ProPetro Holding Corp (PUMP)

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	310,809	349,999	347,124	368,693	328,785	300,241	259,001	250,828	251,064	242,939	217,134	176,441	167,726	157,073	111,829	377,962	375,591	392,728	417,967	449,655
Total current liabilities	US$ in thousands	271,149	273,821	276,294	304,479	284,180	253,817	193,658	172,091	173,785	192,042	156,777	128,459	104,163	96,267	59,269	225,925	232,966	284,160	324,969	302,657
Current ratio		1.15	1.28	1.26	1.21	1.16	1.18	1.34	1.46	1.44	1.27	1.38	1.37	1.61	1.63	1.89	1.67	1.61	1.38	1.29	1.49

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 fluctuated over the past years, ranging from a low of 1.15 to a high of 1.89. A current ratio above 1 indicates that the company has more current assets than current liabilities, which is generally considered favorable.

Analyzing the trend, the current ratio has shown some volatility but has generally remained above 1 over the period. This suggests that the company has been able to meet its short-term obligations using its current assets.

The current ratio peaked at 1.89 in June 2020 before gradually declining to 1.15 by December 2023. This downward trend may indicate a decrease in the company's ability to cover its short-term liabilities with its current assets.

Overall, while the current ratio has fluctuated, it is important for ProPetro Holding Corp to monitor and manage its current assets and liabilities effectively to ensure its short-term liquidity and financial health.