ProPetro Holding Corp (PUMP)
Quick 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 33,354 | 54,330 | 49,890 | 26,498 | 78,862 | 43,208 | 69,789 | 70,768 | 111,918 | 84,601 | 72,701 | 55,859 | 68,772 | 54,255 | 37,306 | 143,717 | 149,036 | 109,191 | 36,279 | 79,518 |
| Short-term investments | US$ in thousands | 7,745 | 8,163 | 6,437 | 6,489 | 10,283 | 8,503 | — | — | 0 | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 237,012 | 260,757 | 251,104 | 290,125 | 215,925 | 210,522 | 182,026 | 172,180 | 128,148 | 149,650 | 138,309 | 110,386 | 84,244 | 94,663 | 65,554 | 222,378 | 212,183 | 275,749 | 371,478 | 357,472 |
| 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 |
| Quick ratio | 1.03 | 1.18 | 1.11 | 1.06 | 1.07 | 1.03 | 1.30 | 1.41 | 1.38 | 1.22 | 1.35 | 1.29 | 1.47 | 1.55 | 1.74 | 1.62 | 1.55 | 1.35 | 1.25 | 1.44 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($33,354K
+ $7,745K
+ $237,012K)
÷ $271,149K
= 1.03
The quick ratio of ProPetro Holding Corp has shown fluctuations over the past years, ranging from a low of 1.03 to a high of 1.74. The quick ratio indicates the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 suggests that the company has an adequate level of liquid assets to cover its current liabilities, with a ratio of 1.0 considered satisfactory.
In general, ProPetro Holding Corp has maintained a healthy quick ratio above the acceptable threshold of 1.0 throughout the periods analyzed. A quick ratio above 1.0 indicates that the company can meet its short-term obligations without having to rely heavily on selling inventory. Both too high and too low quick ratios can be a cause for concern, as an excessively high quick ratio may indicate an inefficient use of assets, while a low ratio could signal liquidity issues.
It is important to monitor the trend of the quick ratio over time to assess the company's liquidity position and ensure that it remains stable and within a reasonable range for the industry. Overall, based on the data provided, ProPetro Holding Corp appears to have maintained a solid liquidity position over the periods analyzed.
Peer comparison
Dec 31, 2023