Patterson-UTI Energy Inc (PTEN)
Current ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,295,320 | 1,302,250 | 1,279,380 | 1,354,700 | 1,485,700 | 1,424,270 | 801,327 | 780,268 | 829,419 | 712,949 | 621,218 | 532,909 | 583,653 | 543,532 | 508,100 | 487,602 | 477,956 | 532,110 | 517,535 | 584,707 |
| Total current liabilities | US$ in thousands | 841,993 | 858,402 | 851,197 | 916,901 | 1,050,440 | 1,037,130 | 454,321 | 486,824 | 550,966 | 459,996 | 448,421 | 396,180 | 435,853 | 338,849 | 293,482 | 272,260 | 273,722 | 263,397 | 272,139 | 354,282 |
| Current ratio | 1.54 | 1.52 | 1.50 | 1.48 | 1.41 | 1.37 | 1.76 | 1.60 | 1.51 | 1.55 | 1.39 | 1.35 | 1.34 | 1.60 | 1.73 | 1.79 | 1.75 | 2.02 | 1.90 | 1.65 |
December 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,295,320K ÷ $841,993K
= 1.54
The current ratio of Patterson-UTI Energy Inc has shown fluctuations over the past few years, ranging from a low of 1.34 on December 31, 2021, to a high of 2.02 on September 30, 2020. This ratio indicates the company's ability to cover its short-term obligations with its current assets.
The current ratio was consistently above 1.5 for most of the period, suggesting that the company typically had more current assets than current liabilities. This indicates a relatively healthy liquidity position for the company during this time frame.
However, there were a few instances where the current ratio fell below 1.5, such as on December 31, 2021, and March 31, 2024. During these periods, the company may have faced challenges in meeting its short-term obligations with its current assets alone.
Overall, the current ratio trend suggests that Patterson-UTI Energy Inc generally maintained a sound liquidity position, although there were some fluctuations that investors and analysts should take into consideration when evaluating the company's financial health.
Peer comparison
Dec 31, 2024