Patterson-UTI Energy Inc (PTEN)
Current ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,295,320 | 1,485,700 | 829,419 | 583,653 | 477,956 |
| Total current liabilities | US$ in thousands | 841,993 | 1,050,440 | 550,966 | 435,853 | 273,722 |
| Current ratio | 1.54 | 1.41 | 1.51 | 1.34 | 1.75 |
December 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,295,320K ÷ $841,993K
= 1.54
Patterson-UTI Energy Inc's current ratio has shown some fluctuations over the past five years. The current ratio, which measures the company's ability to cover its short-term liabilities with its short-term assets, was 1.75 as of December 31, 2020. However, it decreased to 1.34 by the end of 2021, indicating a potential liquidity challenge.
Subsequently, there was a slight improvement in the current ratio to 1.51 by December 31, 2022, suggesting a better ability to meet short-term obligations. However, by December 31, 2023, the ratio declined slightly to 1.41, which may indicate some strain in meeting short-term liabilities.
In the most recent year, as of December 31, 2024, the current ratio increased to 1.54, demonstrating a stronger position in covering short-term obligations with current assets. Overall, while the current ratio has shown variability, it is important for stakeholders to monitor this metric closely to assess Patterson-UTI Energy Inc's short-term liquidity position.
Peer comparison
Dec 31, 2024