Patterson-UTI Energy Inc (PTEN)
Quick 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 239,182 | 113,379 | 72,444 | 167,665 | 190,108 | 61,856 | 150,288 | 157,218 | 137,553 | 42,735 | 19,636 | 48,264 | 117,524 | 191,284 | 216,682 | 214,144 | 224,915 | 303,741 | 246,781 | 152,200 |
| Short-term investments | US$ in thousands | 2,111 | 2,103 | — | 385,360 | 2,572 | 5,192 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 788,583 | 898,992 | 902,662 | 898,750 | 998,040 | 1,040,600 | 503,431 | 493,563 | 565,919 | 546,711 | 473,340 | 377,639 | 356,150 | 263,250 | 196,726 | 181,261 | 164,642 | 136,107 | 166,706 | 327,446 |
| 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 |
| Quick ratio | 1.22 | 1.18 | 1.15 | 1.58 | 1.13 | 1.07 | 1.44 | 1.34 | 1.28 | 1.28 | 1.10 | 1.08 | 1.09 | 1.34 | 1.41 | 1.45 | 1.42 | 1.67 | 1.52 | 1.35 |
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 has experienced fluctuations over the years. The company's quick ratio ranged from a low of 1.08 as of March 31, 2022, to a high of 1.67 as of September 30, 2020. Generally, a quick ratio above 1 indicates that the company has an adequate level of liquid assets to cover its short-term liabilities.
In the most recent period as of December 31, 2024, the quick ratio stood at 1.22, suggesting that the company's ability to meet its short-term obligations with its most liquid assets has improved compared to the previous quarter. This may indicate a strengthening financial position or effective management of working capital.
It is important to continue monitoring the quick ratio trend to assess the company's liquidity position and its ability to meet upcoming financial obligations. Any significant deviations from the historical pattern could signal changes in the company's financial health that warrant further investigation.
Peer comparison
Dec 31, 2024