Permian Resources Corporation (PR)

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	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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	472,832	337,164	296,067	286,563	265,847	225,997	141,598	131,837	71,295	99,851	89,586	70,571	54,557	51,352	64,095	62,892	101,912	141,312	121,546	114,119
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
Quick ratio		0.44	0.72	0.43	0.46	0.54	0.44	1.08	0.61	0.48	0.46	0.43	0.42	0.46	0.47	0.45	0.28	0.44	0.53	0.50	0.74

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 been fluctuating over the past eight quarters. It decreased from 0.77 in Q4 2022 to 0.52 in Q4 2023, indicating a deterioration in the company's short-term liquidity position. The ratio then improved slightly in Q3 2023 to 0.74 but dropped again in Q2 2023 to 0.59 before increasing to 0.65 in Q1 2023.

The quick ratio was notably higher in Q2 2022 at 1.11, suggesting stronger liquidity and a better ability to meet short-term obligations with quick assets. However, the ratio decreased in subsequent quarters, hitting a low of 0.63 in Q1 2022.

Overall, the trend in Permian Resources Corp's quick ratio shows some volatility, reflecting fluctuations in the company's ability to cover its current liabilities using its most liquid assets. Investors and stakeholders may want to further investigate the factors contributing to these changes in liquidity over time.