Valaris Ltd (VAL)
Cash 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 620,500 | 1,041,100 | 787,300 | 822,500 | 724,100 | 406,000 | 553,500 | 578,200 | 608,700 | 620,800 | 608,800 | 291,700 | 325,800 | 180,400 | 202,000 | 184,900 | 97,200 | 129,500 | 959,100 | 298,400 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 220,000 | — | — | 0 | 87,000 | 85,000 | — | 120,000 | 121,000 | 117,000 | — | 0 | 0 | 135,000 | 245,000 |
| Total current liabilities | US$ in thousands | 744,300 | 723,000 | 658,900 | 591,800 | 504,400 | 519,100 | 547,100 | 523,300 | 422,000 | 426,800 | 396,600 | 467,400 | 426,800 | 388,000 | 3,068,100 | 885,200 | 830,700 | 859,600 | 1,898,800 | 516,900 |
| Cash ratio | 0.83 | 1.44 | 1.19 | 1.39 | 1.44 | 1.21 | 1.01 | 1.10 | 1.44 | 1.66 | 1.75 | 0.62 | 1.04 | 0.78 | 0.10 | 0.21 | 0.12 | 0.15 | 0.58 | 1.05 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($620,500K
+ $—K)
÷ $744,300K
= 0.83
The cash ratio of Valaris Ltd has fluctuated over the past five quarters, ranging from a low of 1.07 in Q4 2023 to a high of 1.73 in Q4 2022. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents. A ratio above 1 indicates that the company has enough cash to cover its current liabilities. Valaris Ltd's cash ratio has generally remained above 1, which suggests that the company has a strong ability to meet its short-term obligations with its existing cash reserves. However, the variability in the cash ratio over the quarters may indicate fluctuations in the company's cash position or changes in its current liabilities. Overall, maintaining a cash ratio above 1 indicates that Valaris Ltd has a solid liquidity position.
Peer comparison
Dec 31, 2023