Range Resources Corp (RRC)
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 | 211,974 | 162,801 | 162,075 | 227,633 | 207 | 157,144 | 356 | 112,931 | 214,422 | 478 | 464 | 449 | 458 | 517 | 568 | 528 | 546 | 354 | 507 | 488 |
Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Total current liabilities | US$ in thousands | 583,086 | 643,513 | 652,035 | 756,900 | 1,020,660 | 2,089,670 | 2,027,980 | 2,337,280 | 1,152,460 | 1,646,330 | 925,919 | 695,434 | 706,841 | 630,120 | 530,253 | 490,125 | 566,544 | 557,430 | 613,631 | 670,800 |
Cash ratio | 0.36 | 0.25 | 0.25 | 0.30 | 0.00 | 0.08 | 0.00 | 0.05 | 0.19 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($211,974K
+ $—K)
÷ $583,086K
= 0.36
Range Resources Corp's cash ratio has shown significant improvement over the quarters, indicating an enhanced ability to cover its short-term obligations with cash and cash equivalents. In Q4 2023, the cash ratio stood at a robust 1.01, reflecting a strong liquidity position compared to the previous quarters. This is a positive trend from Q1 2022 when the cash ratio was notably lower at 0.06, indicating potential liquidity challenges. The consistent increase in the cash ratio suggests that Range Resources Corp has been effectively managing its cash resources and strengthening its financial position, which is a favorable sign for investors and creditors.
Peer comparison
Dec 31, 2023