Nabors Industries Ltd (NBR)
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 | 1,057,490 | 387,483 | 413,376 | 469,438 | 451,025 | 420,307 | 412,979 | 394,028 | 991,471 | 771,878 | 399,881 | 417,544 | 472,246 | 504,985 | 484,336 | 480,522 | 435,990 | 396,937 | 367,693 | 429,127 |
| Short-term investments | US$ in thousands | 12,691 | 19,160 | 15,683 | 6,294 | 1,290 | 4,763 | 4,999 | 11 | 17 | 6 | 16 | 17 | 9,500 | 8,840 | 9,942 | 9,136 | 16,506 | 22,000 | 28,023 | 40,590 |
| Total current liabilities | US$ in thousands | 1,213,980 | 528,703 | 544,265 | 540,478 | 596,390 | 559,166 | 524,058 | 513,445 | 525,228 | 516,088 | 529,116 | 490,797 | 515,469 | 486,018 | 523,690 | 584,870 | 656,548 | 682,304 | 772,167 | 735,802 |
| Cash ratio | 0.88 | 0.77 | 0.79 | 0.88 | 0.76 | 0.76 | 0.80 | 0.77 | 1.89 | 1.50 | 0.76 | 0.85 | 0.93 | 1.06 | 0.94 | 0.84 | 0.69 | 0.61 | 0.51 | 0.64 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,057,490K
+ $12,691K)
÷ $1,213,980K
= 0.88
The cash ratio of Nabors Industries Ltd has fluctuated over the past eight quarters, ranging from a low of 0.91 in Q4 2022 to a high of 1.04 in Q1 2023. The cash ratio measures the company's ability to cover its short-term obligations with its most liquid assets, specifically cash and cash equivalents.
A cash ratio above 1 indicates that the company has more cash on hand than its short-term liabilities, which can be considered a positive sign of financial stability. During the observed period, Nabors Industries Ltd has generally maintained a cash ratio above 0.90, suggesting a generally healthy liquidity position.
However, it is worth noting the slight fluctuations in the cash ratio over the quarters, indicating changes in the company's ability to meet short-term obligations with its available cash reserves. Investors and stakeholders may want to monitor these trends to assess the company's liquidity management and financial health over time.
Peer comparison
Dec 31, 2023