RPC Inc (RES)

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	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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	437,693	389,667	446,757	424,705	567,285	515,466	403,059	342,965	401,039	289,213	231,676	269,503	276,099	187,465	156,090	282,965	322,895	309,334	362,676	418,357
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
Quick ratio		4.35	4.01	3.99	3.80	3.88	2.78	2.78	2.99	3.69	3.07	3.67	3.43	4.53	3.57	5.13	3.09	3.68	2.63	2.38	3.25

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($223,310K + $—K + $437,693K) ÷ $151,857K
= 4.35

The quick ratio of RPC, Inc. indicates the company's ability to meet its short-term obligations using 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.

Looking at the trend of RPC, Inc.'s quick ratio over the past eight quarters, we observe an overall positive trend. The quick ratio has consistently been above 1, with values ranging from 2.83 to 4.70. This indicates that the company has maintained a strong liquidity position and a healthy ability to meet its short-term obligations.

Specifically, in the latest quarter (Q4 2023), the quick ratio stands at 4.06, showing a slight decline from the previous quarter but still well above the 1 threshold. This implies that RPC, Inc. continues to have a robust ability to cover its current liabilities with its quick assets.

Overall, based on the quick ratio trend, RPC, Inc. appears to have a solid liquidity position and is likely effectively managing its short-term financial obligations.