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.


Peer comparison

Dec 31, 2023