Range Resources Corp (RRC)

Current 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
Total current assets	US$ in thousands	870,124	595,977	561,571	693,764	539,587	862,366	669,395	575,795	736,665	412,355	339,712	308,632	289,840	209,147	331,839	467,117	427,802	412,458	459,099	388,478
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
Current ratio		1.49	0.93	0.86	0.92	0.53	0.41	0.33	0.25	0.64	0.25	0.37	0.44	0.41	0.33	0.63	0.95	0.76	0.74	0.75	0.58

December 31, 2023 calculation

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

Range Resources Corp's current ratio has shown fluctuating trends over the past eight quarters. The current ratio measures the company's ability to cover its short-term liabilities with its current assets. A higher current ratio indicates a stronger liquidity position.

In Q4 2023, the current ratio improved significantly to 1.49, reflecting a more favorable liquidity position compared to the previous quarter. However, the current ratio had been declining since Q2 2022 when it was at 0.33, reaching a low point in Q3 2022 at 0.41. This downward trend may raise concerns about the company's ability to meet its short-term obligations with its current assets during that period.

The current ratio's improvement in recent quarters suggests that Range Resources Corp may have better liquidity management or increased current assets relative to current liabilities. Investors and analysts should continue to monitor the company's current ratio to assess its short-term financial health and ability to meet upcoming obligations.