Diamondback Energy Inc (FANG)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,621,000 | 1,916,000 | 918,000 | 1,160,000 | 1,392,000 | 1,031,000 | 1,201,000 | 1,347,000 | 1,446,000 | 1,464,000 | 1,142,000 | 851,000 | 602,000 | 558,000 | 654,000 | 1,268,000 | 869,000 | 845,000 | 972,000 | 693,000 |
| Total current liabilities | US$ in thousands | 2,108,000 | 2,141,000 | 2,123,000 | 1,886,000 | 1,716,000 | 1,678,000 | 1,640,000 | 1,872,000 | 1,438,000 | 1,996,000 | 1,972,000 | 1,868,000 | 1,236,000 | 1,229,000 | 1,061,000 | 1,330,000 | 1,263,000 | 1,181,000 | 1,180,000 | 1,112,000 |
| Current ratio | 0.77 | 0.89 | 0.43 | 0.62 | 0.81 | 0.61 | 0.73 | 0.72 | 1.01 | 0.73 | 0.58 | 0.46 | 0.49 | 0.45 | 0.62 | 0.95 | 0.69 | 0.72 | 0.82 | 0.62 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,621,000K ÷ $2,108,000K
= 0.77
The current ratio of Diamondback Energy Inc has shown fluctuations over the quarters, ranging from 0.43 to 0.89. A current ratio below 1 indicates that the company may have difficulty meeting its short-term obligations with its current assets alone.
In Q1 and Q3 of 2023, the current ratio was particularly low at 0.62 and 0.61 respectively, suggesting potential liquidity challenges during those periods. However, there was a slight improvement in Q2 and Q4 of 2023 with ratios of 0.43 and 0.77 respectively, though they still indicate a relatively weak liquidity position.
Comparing with the previous year, the current ratio was relatively stable in 2022, ranging from 0.61 to 0.81. This suggests that the company's liquidity position has deteriorated in 2023 compared to the previous year.
Overall, the trend in Diamondback Energy Inc's current ratio indicates fluctuations and potential liquidity challenges, which may require further investigation and monitoring to ensure the company's ability to meet its short-term obligations.
Peer comparison
Dec 31, 2023