Liberty Oilfield Services Inc (LBRT)

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	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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	188,940	208,112	201,907	732,671	586,012	691,165	564,039	514,613	407,454	434,498	455,249	340,881	338,657	144,405	68,519	335,625	252,910	246,344	346,381	321,237
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
Quick ratio		0.35	0.30	0.31	1.00	0.97	1.01	0.97	0.88	0.75	0.92	0.99	1.04	1.14	1.38	1.91	1.38	1.37	1.52	1.40	1.55

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($36,784K + $—K + $188,940K) ÷ $639,424K
= 0.35

The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. In the case of Liberty Energy Inc, the quick ratio has been relatively stable over the past eight quarters, ranging from 1.00 to 1.17.

A quick ratio above 1 indicates that Liberty Energy Inc has enough liquid assets to cover its current liabilities. The company's quick ratio has generally been above 1, indicating a healthy liquidity position. However, it is important to note that while the quick ratio is above 1, it is not significantly above this threshold, suggesting that the company's liquidity position is adequate but not excessively strong.

Overall, Liberty Energy Inc's quick ratio trend shows consistent liquidity management, with the company maintaining a good balance between liquid assets and current liabilities to meet its short-term obligations.