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 | ||
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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.
Peer comparison
Dec 31, 2023