ProPetro Holding Corp (PUMP)

Current ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total current assets	US$ in thousands	310,809	328,785	251,064	167,726	375,591
Total current liabilities	US$ in thousands	271,149	284,180	173,785	104,163	232,966
Current ratio		1.15	1.16	1.44	1.61	1.61

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $310,809K ÷ $271,149K
= 1.15

The current ratio of ProPetro Holding Corp has exhibited a declining trend over the past five years, decreasing from 1.61 in 2019 to 1.15 in 2023. This may indicate a weakening liquidity position, as the company's current assets may not be as sufficient to cover its current liabilities in the most recent year. The decreasing trend suggests a potential risk in meeting short-term obligations efficiently. However, it is essential to further investigate the components of current assets and liabilities to gain a deeper understanding of the company's liquidity management.