Liberty Oilfield Services Inc (LBRT)

Cash 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 and cash equivalents	US$ in thousands	36,784	26,603	31,667	20,900	43,676	24,045	41,476	32,925	19,998	34,705	30,710	69,500	69,000	84,819	124,504	56,531	112,690	139,995	32,503	103,300
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	639,424	793,809	744,230	754,777	649,497	704,857	622,072	623,200	569,247	509,052	491,144	393,549	356,146	166,015	100,952	283,268	266,495	253,980	270,696	274,409
Cash ratio		0.06	0.03	0.04	0.03	0.07	0.03	0.07	0.05	0.04	0.07	0.06	0.18	0.19	0.51	1.23	0.20	0.42	0.55	0.12	0.38

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($36,784K + $—K) ÷ $639,424K
= 0.06

The cash ratio of Liberty Energy Inc has shown some fluctuations over the past eight quarters, ranging from 0.40 to 0.55. The cash ratio measures the company's ability to cover its short-term liabilities with cash and cash equivalents.

In Q4 2023, the cash ratio increased to 0.55 from 0.42 in Q3 2023, indicating an improved ability to meet short-term obligations with available cash. This may be due to an increase in cash reserves or a reduction in short-term liabilities during the quarter.

Compared to the same quarter in the previous year (Q4 2022), the cash ratio has slightly increased from 0.51 to 0.55 in Q4 2023, suggesting a relatively stronger liquidity position.

Overall, Liberty Energy Inc's cash ratio has exhibited some variability but has generally remained above 0.40, indicating that the company has a sufficient level of cash to meet its short-term liabilities. Financial analysts may consider further examining the company's cash management practices and liquidity position to assess its overall financial health.