Permian Resources Corporation (PR)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	73,290	59,545	9,380	5,800	10,223
Short-term investments	US$ in thousands	—	—	—	—	—
Receivables	US$ in thousands	472,832	265,847	71,295	54,557	101,912
Total current liabilities	US$ in thousands	1,241,550	605,569	167,899	131,868	254,466
Quick ratio		0.44	0.54	0.48	0.46	0.44

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($73,290K + $—K + $472,832K) ÷ $1,241,550K
= 0.44

The quick ratio of Permian Resources Corp has shown some fluctuations over the past five years. In 2019 and 2020, the quick ratio was 0.47 and 0.50, respectively, indicating the company had less liquidity to cover its short-term obligations. However, there was an improvement in 2021 with the quick ratio increasing to 0.52. This improvement was reversed in 2022 with a quick ratio of 0.77, suggesting an increase in the company's ability to meet its short-term liabilities with its most liquid assets.

However, in 2023, the quick ratio decreased to 0.52. This decrease could potentially signal a reduced ability to cover short-term obligations using current assets that can be quickly converted into cash. Overall, the quick ratio of Permian Resources Corp has been variable in recent years, indicating fluctuations in the company's short-term liquidity position. Additional analysis of the company's current assets and liabilities would be required to determine the underlying reasons for these fluctuations.