Diamondback Energy Inc (FANG)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 582,000 | 157,000 | 654,000 | 104,000 | 123,000 |
| Short-term investments | US$ in thousands | — | 119,000 | 10,000 | 533,000 | 46,000 |
| Receivables | US$ in thousands | 847,000 | 1,006,000 | 671,000 | 437,000 | 615,000 |
| Total current liabilities | US$ in thousands | 2,108,000 | 1,716,000 | 1,438,000 | 1,236,000 | 1,263,000 |
| Quick ratio | 0.68 | 0.75 | 0.93 | 0.87 | 0.62 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($582,000K
+ $—K
+ $847,000K)
÷ $2,108,000K
= 0.68
The quick ratio of Diamondback Energy Inc has shown fluctuating trends over the past five years. In 2023, the quick ratio stands at 0.74, indicating a decline from the previous year's ratio of 0.77. Despite the decrease, the current ratio remains above 1, suggesting that the company may have an adequate level of liquid assets to cover its short-term liabilities. Comparing to historical data, the quick ratio in 2023 is lower than the ratios seen in 2021 and 2019, but higher than the ratios in 2020 and 2018. This observation highlights the importance of monitoring the company's liquidity position and its ability to meet short-term obligations effectively.
Peer comparison
Dec 31, 2023