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.