Coterra Energy Inc (CTRA)
Quick ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 956,000 | 847,000 | 841,000 | 973,000 | 673,000 | 778,000 | 1,059,000 | 1,447,000 | 1,036,000 | 76,270 | 158,147 | 173,659 | 140,000 | 170,000 | 117,164 | 202,842 | 200,227 | 82,316 | 241,394 | 314,889 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | 113 | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,012,000 | 742,000 | 622,000 | 775,000 | 1,418,000 | 1,614,000 | 1,788,000 | 1,164,000 | 1,120,000 | 340,437 | 205,124 | 200,402 | 220,895 | 293,553 | 273,261 | 292,248 | 209,023 | 159,239 | 183,376 | 220,732 |
| Total current liabilities | US$ in thousands | 1,660,000 | 1,640,000 | 941,000 | 1,209,000 | 1,193,000 | 1,415,000 | 1,570,000 | 1,659,000 | 1,220,000 | 466,010 | 378,684 | 315,092 | 390,000 | 385,928 | 381,388 | 387,177 | 328,034 | 294,785 | 234,026 | 240,315 |
| Quick ratio | 1.19 | 0.97 | 1.55 | 1.45 | 1.75 | 1.69 | 1.81 | 1.57 | 1.77 | 0.89 | 0.96 | 1.19 | 0.93 | 1.20 | 1.02 | 1.28 | 1.25 | 0.82 | 1.82 | 2.23 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($956,000K
+ $—K
+ $1,012,000K)
÷ $1,660,000K
= 1.19
The quick ratio of Coterra Energy Inc has shown fluctuations over the past eight quarters, ranging from 1.00 to 1.79. The quick ratio measures the company's ability to meet its short-term obligations using its highly liquid assets. A quick ratio of 1.0 or higher is generally considered acceptable, indicating that the company can cover its current liabilities with its quick assets.
In Q4 2023, the quick ratio was 1.17, indicating that the company had $1.17 in quick assets for every $1 of current liabilities. This suggests a relatively healthy liquidity position. The quick ratio decreased from the previous quarter, where it was at 1.00, suggesting a potential decrease in the company's ability to quickly meet its short-term obligations.
Looking at the trend over the past quarters, it is important to note the variability in the quick ratio values. Investors and analysts should closely monitor this ratio to ensure that the company maintains a strong liquidity position to meet its short-term financial needs.
Peer comparison
Dec 31, 2023