Patterson-UTI Energy Inc (PTEN)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 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 | 631,815 | 677,560 | 897,744 | 927,731 |
| Total current liabilities | US$ in thousands | 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 | 400,602 | 438,858 | 470,044 | 511,158 |
| Current ratio | 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 | 1.58 | 1.54 | 1.91 | 1.81 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,485,700K ÷ $1,050,440K
= 1.41
The current ratio of Patterson-UTI Energy Inc has fluctuated over the past eight quarters. As of Q4 2023, the current ratio stands at 1.41, reflecting the company's ability to cover its short-term obligations with its current assets. The current ratio has remained above 1 in all quarters, indicating that the company has more current assets than current liabilities.
The current ratio peaked at 1.76 in Q2 2023, suggesting a strong liquidity position during that period. On the other hand, the lowest current ratio of 1.35 was recorded in Q1 2022, which still indicates the company's ability to meet its short-term obligations.
Overall, fluctuations in the current ratio may be attributed to changes in the company's current assets and liabilities over time. Investors and stakeholders should continue to monitor Patterson-UTI Energy Inc's current ratio to assess its liquidity position and ability to manage short-term financial obligations.
Peer comparison
Dec 31, 2023