Range Resources Corp (RRC)

Quick ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash	US$ in thousands	304,490	211,974	207	214,422	458
Short-term investments	US$ in thousands	—	101,641	—	—	—
Receivables	US$ in thousands	302,212	274,669	481,050	471,775	252,642
Total current liabilities	US$ in thousands	1,274,070	583,086	1,020,660	1,152,460	706,841
Quick ratio		0.48	1.01	0.47	0.60	0.36

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($304,490K + $—K + $302,212K) ÷ $1,274,070K
= 0.48

Range Resources Corp's quick ratio has fluctuated over the years, starting at 0.36 on December 31, 2020, increasing to 0.60 by December 31, 2021, then decreasing to 0.47 by December 31, 2022, before experiencing a significant improvement to 1.01 on December 31, 2023, and dropping slightly to 0.48 by December 31, 2024.

The quick ratio measures the company's ability to cover its short-term liabilities with its most liquid assets. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term obligations with its current assets. In the case of Range Resources Corp, the quick ratio has generally been below 1, signaling potential liquidity challenges.

The notable improvement in the quick ratio to 1.01 on December 31, 2023, suggests that Range Resources Corp may have enhanced its liquidity position during that period. However, the subsequent decrease to 0.48 by December 31, 2024, raises concerns about the company's ability to meet its short-term obligations with its liquid assets.

Overall, Range Resources Corp's quick ratio trend highlights the importance of closely monitoring liquidity levels and managing short-term obligations effectively to ensure financial stability and sustainability.