Helmerich and Payne Inc (HP)
Cash ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 217,341 | 203,633 | 193,636 | 214,104 | 257,174 | 220,609 | 159,672 | 229,186 | 232,131 | 188,663 | 202,206 | 234,196 | 917,534 | 370,553 | 427,243 | 373,980 | 487,884 | 426,245 | 336,089 | 355,010 |
| Short-term investments | US$ in thousands | 292,919 | 86,088 | 83,390 | 84,121 | 93,600 | 72,609 | 85,090 | 118,457 | 117,101 | 144,331 | 148,377 | 207,068 | 198,700 | 187,256 | 134,491 | 149,822 | 89,335 | 65,787 | 45,655 | 57,044 |
| Total current liabilities | US$ in thousands | 446,949 | 456,792 | 438,837 | 468,986 | 418,931 | 433,496 | 413,721 | 469,571 | 394,810 | 401,276 | 377,598 | 398,976 | 866,306 | 265,301 | 251,603 | 228,261 | 219,136 | 242,167 | 377,419 | 419,347 |
| Cash ratio | 1.14 | 0.63 | 0.63 | 0.64 | 0.84 | 0.68 | 0.59 | 0.74 | 0.88 | 0.83 | 0.93 | 1.11 | 1.29 | 2.10 | 2.23 | 2.29 | 2.63 | 2.03 | 1.01 | 0.98 |
September 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($217,341K
+ $292,919K)
÷ $446,949K
= 1.14
The cash ratio of Helmerich and Payne Inc has fluctuated over the periods indicated. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to cover short-term obligations.
In the recent period ending September 30, 2024, the cash ratio was 1.14, showing an improvement compared to the previous quarter. However, it is important to note that the ratio has been volatile in recent quarters, with values ranging from 0.59 to 2.29 over the past two years.
The company had a peak cash ratio of 2.63 at the end of December 2020, indicating a strong liquidity position at that time. Subsequently, the ratio saw a decline before fluctuating within a range in the following quarters.
Overall, the cash ratio of Helmerich and Payne Inc has shown variability, suggesting fluctuations in its cash reserves in relation to its short-term liabilities. Investors and analysts may want to monitor the trend of the cash ratio over time to assess the company's liquidity management and financial health.
Peer comparison
Sep 30, 2024