Patterson-UTI Energy Inc (PTEN)
Quick ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 239,182 | 190,108 | 137,553 | 117,524 | 224,915 |
| Short-term investments | US$ in thousands | 2,111 | 2,572 | — | — | — |
| Receivables | US$ in thousands | 788,583 | 998,040 | 565,919 | 356,150 | 164,642 |
| Total current liabilities | US$ in thousands | 841,993 | 1,050,440 | 550,966 | 435,853 | 273,722 |
| Quick ratio | 1.22 | 1.13 | 1.28 | 1.09 | 1.42 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($239,182K
+ $2,111K
+ $788,583K)
÷ $841,993K
= 1.22
The quick ratio of Patterson-UTI Energy Inc decreased from 1.42 in December 2020 to 1.09 in December 2021, indicating a potential liquidity concern. However, the ratio improved to 1.28 in December 2022, displaying a recovery in the company's short-term liquidity position. Subsequently, there was a slight drop to 1.13 in December 2023, suggesting a possible decrease in the company's ability to meet its short-term obligations. The ratio then rose to 1.22 by December 2024, showing a modest improvement in the company's liquidity position. Overall, the fluctuations in the quick ratio over the years indicate varying capacity to cover immediate payment obligations with liquid assets.
Peer comparison
Dec 31, 2024