Helmerich and Payne Inc (HP)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,192,070 | 970,319 | 948,780 | 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 |
| 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 |
| Current ratio | 2.67 | 2.12 | 2.16 | 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 |
September 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,192,070K ÷ $446,949K
= 2.67
The current ratio of Helmerich and Payne Inc has shown fluctuations over the past few quarters, with values ranging from 2.11 to 4.40. The ratio provides an indication of the company's ability to cover its short-term liabilities with its current assets.
In the most recent quarter, as of September 30, 2024, the current ratio stood at 2.67, indicating that the company had $2.67 in current assets for every $1 in current liabilities. This suggests a healthy liquidity position, as the company has more than enough current assets to meet its short-term obligations.
Looking at the trend over the past few quarters, the current ratio has generally been above 2, which is considered a solid level. The peak ratio of 4.40 in December 2020 and the subsequent high ratios in early 2021 demonstrate a period of strong liquidity for the company.
However, it is important to note the significant decrease in the current ratio in the fourth quarter of 2021, where it dropped to 1.83. This sharp decline may indicate a potential liquidity strain or a change in the company's current asset composition during that period.
Overall, the current ratio analysis suggests that Helmerich and Payne Inc has maintained a relatively strong liquidity position over the quarters analyzed, supporting its ability to meet short-term obligations.
Peer comparison
Sep 30, 2024