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.
Peer comparison
Dec 31, 2023