RPC Inc (RES)
Cash 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 and cash equivalents | US$ in thousands | 223,310 | 171,874 | 100,535 | 177,904 | 126,424 | 35,885 | 78,233 | 73,189 | 82,433 | 80,835 | 121,015 | 85,421 | 84,496 | 145,619 | 145,405 | 82,646 | 50,023 | 49,523 | 47,642 | 113,014 |
Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Total current liabilities | US$ in thousands | 151,857 | 140,112 | 137,099 | 158,514 | 178,603 | 198,244 | 173,233 | 139,232 | 130,849 | 120,721 | 96,223 | 103,547 | 79,565 | 93,262 | 58,814 | 118,178 | 101,402 | 136,220 | 172,384 | 163,527 |
Cash ratio | 1.47 | 1.23 | 0.73 | 1.12 | 0.71 | 0.18 | 0.45 | 0.53 | 0.63 | 0.67 | 1.26 | 0.82 | 1.06 | 1.56 | 2.47 | 0.70 | 0.49 | 0.36 | 0.28 | 0.69 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($223,310K
+ $—K)
÷ $151,857K
= 1.47
The cash ratio measures a company's ability to cover its short-term obligations using only its cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet these obligations.
Looking at RPC, Inc.'s cash ratio over the past eight quarters, we observe a fluctuation in the ratio. In Q4 2023, the cash ratio was 1.57, indicating an improvement in the company's liquidity position compared to the previous quarters. This suggests that RPC, Inc. had sufficient cash reserves to cover its short-term liabilities.
In contrast, the cash ratio was relatively low in Q3 2022 at 0.23, indicating a potential liquidity issue during that period. However, the company managed to improve its cash position in the subsequent quarters.
Overall, RPC, Inc.'s cash ratio has shown variability, with some periods demonstrating strong liquidity and others indicating potential challenges in meeting short-term obligations. Monitoring this ratio over time can provide insights into the company's liquidity management and financial health.
Peer comparison
Dec 31, 2023