Par Pacific Holdings Inc (PARR)

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	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	—	—	—	—	—	—	—
Receivables	US$ in thousands	367,249	527,442	402,086	277,700	252,885	287,722	370,773	235,286	195,108	195,157	210,389	155,886	111,657	116,546	114,500	191,800	228,718	232,413	254,684	264,402
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
Quick ratio		0.42	0.45	0.34	0.60	0.41	0.40	0.26	0.21	0.23	0.31	0.28	0.49	0.44	0.28	0.32	0.35	0.34	0.33	0.37	0.34

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($279,107K + $—K + $367,249K) ÷ $1,524,600K
= 0.42

The quick ratio of Par Pacific Holdings Inc fluctuated over the past eight quarters, showing some volatility in the company's ability to cover its short-term liabilities with its most liquid assets.

The quick ratio ranged from a low of 0.22 in Q1 2022 to a high of 0.63 in Q1 2023. A quick ratio below 1 indicates the company may have difficulty meeting its short-term obligations with its liquid assets alone.

While the quick ratio improved in Q1 2023, reaching 0.63, it deteriorated in the following quarters, dropping to 0.53 in Q4 2023. This downward trend may raise concerns about the company's liquidity and ability to meet upcoming financial obligations.

It is important for Par Pacific Holdings Inc to closely monitor its quick ratio going forward to ensure it maintains a healthy liquidity position and is able to cover its short-term liabilities effectively.