Range Resources Corp (RRC)

Current ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total current assets	US$ in thousands	870,124	539,587	736,665	289,840	427,802
Total current liabilities	US$ in thousands	583,086	1,020,660	1,152,460	706,841	566,544
Current ratio		1.49	0.53	0.64	0.41	0.76

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $870,124K ÷ $583,086K
= 1.49

The current ratio of Range Resources Corp has shown fluctuations over the past five years. The ratio improved significantly from 2019 to 2020, indicating a stronger short-term liquidity position. However, in 2021, there was a decrease in the current ratio, suggesting a potential decline in the company's ability to cover its short-term obligations. The ratio further decreased in 2022, reaching a low point of 0.53, which may raise concerns about the company's liquidity and ability to meet its current liabilities.

The current ratio rebounded in 2023 to 1.49, reflecting a significant improvement in the company's short-term liquidity position compared to the previous year. A current ratio above 1 typically indicates that a company has more current assets than current liabilities, which may suggest that Range Resources Corp is in a better position to meet its short-term financial obligations.

Overall, the trend in Range Resources Corp's current ratio indicates fluctuations in its short-term liquidity position, with notable improvements in 2020 and 2023 following declines in 2021 and 2022. Monitoring changes in the current ratio can provide insights into the company's ability to manage its short-term financial obligations effectively.