Cactus Inc (WHD)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 133,792 | 344,527 | 301,669 | 288,659 | 202,603 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 175,660 | 116,649 | 92,574 | 48,915 | 91,126 |
| Cash ratio | 0.76 | 2.95 | 3.26 | 5.90 | 2.22 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($133,792K
+ $—K)
÷ $175,660K
= 0.76
The cash ratio of Cactus Inc has shown a declining trend over the past five years. It decreased from 5.90 in 2020 to 0.76 in 2023, indicating a substantial decrease in the company's ability to cover its short-term liabilities with its available cash. The sharp decline in the cash ratio suggests potential liquidity issues or inefficiencies in managing cash flow. Further investigation into the company's cash management practices and overall financial health may be warranted to address the declining trend in the cash ratio.
Peer comparison
Dec 31, 2023
Company name
Symbol
Cash ratio
Cactus Inc
WHD
0.76
Baker Hughes Co
BKR
0.28
Dril-Quip Inc
DRQ
1.81
NOV Inc.
NOV
0.34
Now Inc
DNOW
0.72
Weatherford International PLC
WFRD
0.51