Diamondback Energy Inc (FANG)
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 | 582,000 | 827,000 | 18,000 | 46,000 | 157,000 | 27,000 | 43,000 | 149,000 | 654,000 | 457,000 | 344,000 | 121,000 | 104,000 | 92,000 | 51,000 | 149,000 | 123,000 | 100,000 | 326,000 | 149,000 |
| Short-term investments | US$ in thousands | — | — | — | — | 119,000 | — | — | — | — | 509,000 | 518,000 | 525,000 | 533,000 | 532,000 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 847,000 | 996,000 | 807,000 | 942,000 | 1,006,000 | 786,000 | 1,037,000 | 1,079,000 | 671,000 | 811,000 | 690,000 | 632,000 | 437,000 | 391,000 | 442,000 | 403,000 | 615,000 | 538,000 | 517,000 | 463,000 |
| 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 |
| Quick ratio | 0.68 | 0.85 | 0.39 | 0.52 | 0.75 | 0.48 | 0.66 | 0.66 | 0.92 | 0.89 | 0.79 | 0.68 | 0.87 | 0.83 | 0.46 | 0.42 | 0.58 | 0.54 | 0.71 | 0.55 |
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 fluctuated over the past 8 quarters, ranging from 0.40 to 0.86. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term obligations using its most liquid assets.
In Q2 2023, the quick ratio was particularly low at 0.40, suggesting potential liquidity challenges during that period. However, the ratio improved in Q3 2023 to 0.86, indicating a stronger ability to cover short-term liabilities with liquid assets.
Overall, the trend in Diamondback Energy Inc's quick ratio shows some variability, but demonstrates that the company has been actively managing its liquidity position. Investors and stakeholders should continue to monitor future changes in the quick ratio to assess the company's short-term financial health and ability to meet its obligations.
Peer comparison
Dec 31, 2023