ProPetro Holding Corp (PUMP)

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	50,443	46,566	66,886	46,458	33,354	54,330	62,113	44,793	88,862	43,208	69,789	70,768	111,918	84,601	72,701	55,859	68,772	54,255	37,306	149,036
Short-term investments	US$ in thousands	7,849	7,405	7,797	7,143	7,745	8,163	6,437	6,489	10,283	8,503	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	222,266	254,852	295,544	303,984	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	232,966
Quick ratio		0.26	0.21	0.25	0.18	0.15	0.23	0.25	0.17	0.35	0.20	0.36	0.41	0.64	0.44	0.46	0.43	0.66	0.56	0.63	0.64

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($50,443K + $7,849K + $—K) ÷ $222,266K
= 0.26

The quick ratio of ProPetro Holding Corp has shown fluctuations over the past few years. The quick ratio, which measures the company's ability to meet its short-term obligations with its most liquid assets, decreased from 0.64 as of March 31, 2020, to a low of 0.15 by December 31, 2023. This significant decline may indicate a potential liquidity challenge for the company during that period.

Subsequently, there was a slight improvement in the quick ratio to 0.26 as of December 31, 2024. However, it is important to note that the quick ratio remained below 1 for most of the periods, suggesting that ProPetro Holding Corp may have had difficulty covering its short-term liabilities with its quick assets alone.

Overall, the trend in the quick ratio indicates varying levels of liquidity risk for ProPetro Holding Corp throughout the analyzed period. The company may need to closely monitor its liquidity position and take appropriate measures to ensure it can meet its short-term obligations effectively.