Par Pacific Holdings Inc (PARR)
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 | 279,107 | 347,105 | 190,951 | 661,316 | 490,925 | 409,090 | 186,178 | 140,874 | 112,221 | 201,305 | 174,329 | 214,733 | 68,309 | 127,333 | 142,869 | 62,080 | 126,015 | 110,688 | 106,190 | 60,297 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | 209,010 | 209,010 | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,524,600 | 1,939,590 | 1,769,950 | 1,572,360 | 1,794,090 | 1,721,680 | 2,109,940 | 1,828,620 | 1,355,790 | 1,295,240 | 1,369,690 | 1,190,670 | 878,680 | 875,703 | 806,570 | 727,875 | 1,034,320 | 1,051,600 | 974,193 | 948,072 |
| Cash ratio | 0.18 | 0.18 | 0.11 | 0.42 | 0.27 | 0.24 | 0.09 | 0.08 | 0.08 | 0.16 | 0.13 | 0.36 | 0.32 | 0.15 | 0.18 | 0.09 | 0.12 | 0.11 | 0.11 | 0.06 |
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 shown fluctuations over the past eight quarters. The cash ratio measures the company's ability to cover its current liabilities with its cash and cash equivalents. A higher cash ratio indicates a greater ability to cover short-term obligations.
In Q1 2023, the cash ratio was at its highest point of 0.46, indicating that the company had a strong ability to cover its short-term liabilities with cash. This was followed by a significant decrease in Q2 2023 to 0.12, signifying a lower level of liquidity. The cash ratio then increased in Q3 2023 to 0.20, showing some improvement in liquidity.
However, in Q4 2023, the cash ratio decreased to 0.29, still below the peak reached in Q1 2023. Overall, the company's cash ratio has varied throughout the quarters, displaying periods of stronger and weaker liquidity positions. It is important for the company to maintain a healthy level of liquidity to ensure it can meet its short-term obligations effectively.
Peer comparison
Dec 31, 2023