Par Pacific Holdings Inc (PARR)

Cash ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	US$ in thousands	279,107	490,925	112,221	68,309	126,015
Short-term investments	US$ in thousands	—	—	—	209,010	—
Total current liabilities	US$ in thousands	1,524,600	1,794,090	1,355,790	878,680	1,034,320
Cash ratio		0.18	0.27	0.08	0.32	0.12

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($279,107K + $—K) ÷ $1,524,600K
= 0.18

The cash ratio of Par Pacific Holdings Inc has fluctuated over the past five years. The ratio stood at 0.29 at the end of 2023, slightly lower than the previous year's 0.30. This indicates that for every dollar of current liabilities, the company had $0.29 in cash available at the end of 2023.

Comparing to historical data, the cash ratio was notably higher in 2021 at 0.10 but then increased in 2022 and 2023. The cash ratio was at its peak in 2020 at 0.30, reflecting a strong cash position that year.

Overall, while the cash ratio has shown some variability, it is important to consider the company's cash management strategy and liquidity needs when interpreting these fluctuations.