Permian Resources Corporation (PR)
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 | 73,290 | 211,703 | 18,280 | 25,593 | 59,545 | 45,514 | 201,092 | 50,624 | 9,380 | 4,985 | 4,702 | 10,936 | 5,800 | 5,177 | 7,214 | 3,841 | 10,223 | 10,933 | 28,444 | 89,482 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,241,550 | 760,011 | 722,724 | 681,998 | 605,569 | 615,766 | 316,101 | 299,727 | 167,899 | 228,536 | 220,879 | 194,191 | 131,868 | 120,705 | 157,861 | 239,045 | 254,466 | 287,488 | 301,583 | 274,435 |
| Cash ratio | 0.06 | 0.28 | 0.03 | 0.04 | 0.10 | 0.07 | 0.64 | 0.17 | 0.06 | 0.02 | 0.02 | 0.06 | 0.04 | 0.04 | 0.05 | 0.02 | 0.04 | 0.04 | 0.09 | 0.33 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($73,290K
+ $—K)
÷ $1,241,550K
= 0.06
The cash ratio of Permian Resources Corp has shown fluctuations over the past eight quarters. In Q4 2023, the cash ratio decreased significantly to 0.14, indicating that the company's cash and cash equivalents are relatively low compared to its current liabilities. This decline may raise concerns about the company's liquidity and ability to meet its short-term obligations using its available cash resources.
The trend observed over the past quarters also shows variability in the cash ratio, with Q3 2022 having the highest value of 0.66 and Q4 2022 having a similar value at 0.30. These higher ratios suggest that the company had a more comfortable position in terms of cash availability relative to its current liabilities during those periods.
Overall, the decreasing trend in the cash ratio from the previous highs suggests that Permian Resources Corp may need to closely monitor its cash management practices to ensure it maintains an adequate level of liquidity to meet its short-term financial obligations. A low cash ratio can indicate a potential risk of liquidity problems, and the company may need to consider strategies to improve its cash position in the future.
Peer comparison
Dec 31, 2023