Viper Energy Ut (VNOM)

Quick ratio

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cash	US$ in thousands	168,649	35,211	20,005	25,869	146,814	13,079	9,106	18,179	11,616	4,312	33,066	39,448	41,515	42,422	11,727	19,121	7,374	9,663	40,271	3,602
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	—	—	—	813	—	—	83,038	81,657	94,215	122,444	98,500	68,568	47,133	42,011	41,791	32,210	32,108	32,118	37,960	58,089
Total current liabilities	US$ in thousands	44,208	29,091	54,885	33,256	47,491	28,079	29,771	21,946	25,081	26,842	37,104	24,466	61,565	68,960	62,855	44,898	44,189	46,406	24,309	13,432
Quick ratio		3.81	1.21	0.36	0.80	3.09	0.47	3.10	4.55	4.22	4.72	3.55	4.41	1.44	1.22	0.85	1.14	0.89	0.90	3.22	4.59

September 30, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($168,649K + $—K + $—K) ÷ $44,208K
= 3.81

The quick ratio of Viper Energy Ut has displayed significant variability over the past few years. In the most recent period ending September 30, 2024, the quick ratio stood at a healthy 3.81, indicating a strong ability to cover its short-term liabilities with its most liquid assets. This was a substantial improvement from the previous quarter's ratio of 1.21.

Looking further back, the quick ratio fluctuated considerably, with notable lows in March 2024 and June 2023 at 0.36 and 0.47, respectively, suggesting potential liquidity concerns during those periods. However, Viper Energy Ut showed resilience and experienced relatively high quick ratios in December 2022, March 2023, and September 2022, ranging from 3.10 to 4.72, reflecting a robust liquidity position.

The company's quick ratio has shown a pattern of volatility, but the overall trend demonstrates an ability to maintain a healthy liquidity position to meet short-term obligations, with occasional fluctuations that may warrant further investigation into the company's working capital management.