Helmerich and Payne Inc (HP)
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 | 988,680 | 1,006,620 | 992,828 | 1,004,450 | 1,078,610 | 1,002,940 | 946,158 | 918,496 | 954,694 | 1,586,570 | 983,543 | 978,573 | 952,724 | 963,327 | 990,544 | 1,120,120 | 1,154,640 | 1,115,090 | 1,116,240 | 1,048,000 |
| Total current liabilities | US$ in thousands | 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 | 410,238 | 390,526 | 373,707 |
| Current ratio | 2.11 | 2.40 | 2.29 | 2.43 | 2.30 | 2.54 | 2.36 | 2.43 | 2.39 | 1.83 | 3.71 | 3.89 | 4.17 | 4.40 | 4.09 | 2.97 | 2.75 | 2.72 | 2.86 | 2.80 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $988,680K ÷ $468,986K
= 2.11
The current ratio of Helmerich & Payne, Inc. has shown a fluctuating pattern over the past eight quarters. The current ratio, which measures the company's ability to meet short-term obligations with its current assets, was 2.11 at the end of December 2023, indicating that the company had $2.11 in current assets for every $1 of current liabilities. This reflects a decrease from the previous quarter's current ratio of 2.40. The trend over the past year has been somewhat volatile, with ratios ranging between 2.30 and 2.54.
While the current ratio remains above 2, which generally indicates good short-term liquidity, the downward trend in recent quarters may warrant further investigation into the company's management of its current assets and liabilities. It could be beneficial for stakeholders to closely monitor the company's ability to maintain a strong current ratio and its impact on the overall financial health of Helmerich & Payne, Inc.
Peer comparison
Dec 31, 2023