Summit Midstream Partners LP (Summit Midstream Partners LP) Current Ratio : 0.73 (As of Dec. 2023)

View and export this data going back to 2012. Start your Free Trial

What is Summit Midstream Partners LP Current Ratio?

The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated as a company's Total Current Assets divides by its Total Current Liabilities. Summit Midstream Partners LP's current ratio for the quarter that ended in Dec. 2023 was 0.73.

Summit Midstream Partners LP has a current ratio of 0.73. It indicates that the company may have difficulty meeting its current obligations. Low values, however, do not indicate a critical problem. If Summit Midstream Partners LP has good long-term prospects, it may be able to borrow against those prospects to meet current obligations.

The historical rank and industry rank for Summit Midstream Partners LP's Current Ratio or its related term are showing as below:

SMLP' s Current Ratio Range Over the Past 10 Years
Min: 0.73 Med: 1.17 Max: 1.67
Current: 0.73

During the past 13 years, Summit Midstream Partners LP's highest Current Ratio was 1.67. The lowest was 0.73. And the median was 1.17.

SMLP's Current Ratio is ranked worse than
80.65% of 1075 companies
in the Oil & Gas industry
Industry Median: 1.34 vs SMLP: 0.73

Summit Midstream Partners LP Current Ratio Historical Data

The historical data trend for Summit Midstream Partners LP's Current Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Summit Midstream Partners LP Current Ratio Chart

Summit Midstream Partners LP Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Current Ratio

Get a 7-Day Free Trial

1.56

1.20

1.10

0.83

0.73

Summit Midstream Partners LP Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Current Ratio	Get a 7-Day Free Trial															0.83	0.71	0.75	0.71	0.73

Competitive Comparison of Summit Midstream Partners LP's Current Ratio

For the Oil & Gas Midstream subindustry, Summit Midstream Partners LP's Current Ratio, along with its competitors' market caps and Current Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Summit Midstream Partners LP's Current Ratio Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Summit Midstream Partners LP's Current Ratio distribution charts can be found below:

* The bar in red indicates where Summit Midstream Partners LP's Current Ratio falls into.

Summit Midstream Partners LP Current Ratio Calculation

The current ratio is mainly used to give an idea of the company's ability to pay back its short-term liabilities with its short-term assets.

Summit Midstream Partners LP's Current Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Current Ratio (A: Dec. 2023 )	=	Total Current Assets (A: Dec. 2023 )	/	Total Current Liabilities (A: Dec. 2023 )
	=	98.422	/	134.012
	=	0.73

Summit Midstream Partners LP's Current Ratio for the quarter that ended in Dec. 2023 is calculated as

Current Ratio (Q: Dec. 2023 )	=	Total Current Assets (Q: Dec. 2023 )	/	Total Current Liabilities (Q: Dec. 2023 )
	=	98.422	/	134.012
	=	0.73

Summit Midstream Partners LP (NYSE:SMLP) Current Ratio Explanation

The current ratio can give a sense of the efficiency of a company's operating cycle or its ability to turn its product into cash. Companies that have trouble getting paid on their receivables or have long inventory turnover can run into liquidity problems because they are unable to alleviate their obligations. Because business operations differ in each industry, it is always more useful to compare companies within the same industry.

Acceptable current ratios vary from industry to industry and are generally between 1 and 3 for healthy businesses.

The higher the current ratio, the more capable the company is of paying its obligations. A ratio under 1 suggests that the company would be unable to pay off its obligations if they came due at that point. While this shows the company is not in good financial health, it does not necessarily mean that it will go bankrupt - as there are many ways to access financing - but it is definitely not a good sign.

If all other things were equal, a creditor, who is expecting to be paid in the next 12 months, would consider a high current ratio to be better than a low current ratio, because a high current ratio means that the company is more likely to meet its liabilities which fall due in the next 12 months.

Summit Midstream Partners LP Current Ratio Related Terms

Thank you for viewing the detailed overview of Summit Midstream Partners LP's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.

Summit Midstream Partners LP (Summit Midstream Partners LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Summit Midstream Partners LP (NYSE:SMLP) » Definitions » Current Ratio

Comparable Companies

BPT MMLP DLNG CWPE GPP PXS IMPP OSG BANL SNMP TSX:ENB EPD WMB ET LNG OKE MPLX KMI TSX:TRP CQP

Traded in Other Exchanges

N/A

Address

910 Louisiana Street, Suite 4200, Houston, TX, USA, 77002

Website

http://www.summitmidstream.com

Summit Midstream Partners LP is a United States-based energy solutions provider involved in the oil and gas industry. The company develops, owns, and operates midstream energy infrastructure assets. The company conduct and reports operations in the midstream energy industry through five reportable segments: Northeast, Rockies, Permian, Piceance, and Barnett. It offers systems that gather natural gas from pad sites, wells, and central receipt points connected to the company's systems with provisions to supply to processing plants, contractors, and end-users. The Majority of its assets are located in the producing areas of unconventional resource basins in the continental United States. It derives the majority of its revenues from the Piceance.

Executives

James David Johnston	officer: See remarks below.	910 LOUISIANA STREET, SUITE 4200, HOUSTON TX 77002
Rommel M. Oates	director, other: See Remarks.	910 LOUISIANA STREET, SUITE 4200, HOUSTON TX 77002
William J. Mault	officer: See remarks below.	910 LOUISIANA STREET, SUITE 4200, HOUSTON TX 77002
Matthew B. Sicinski	officer: See remarks below.	910 LOUISIANA STREET, SUITE 4200, HOUSTON TX 77002
James J Cleary	director, other: See Remarks.	12 E. 49TH STREET, 39TH FLOOR, NEW YORK NY 10017
Marguerite Woung-chapman	director, other: See Remarks.	1001 LOUISIANA, HOUSTON TX 77002
Robert Joseph Mcnally	director, other: See Remarks.	625 LIBERTY AVENUE, SUITE 1700, C/O EQT CORPORATION, PITTSBURGH PA 15222
Christopher M Leininger	director, other: See Remarks.	11943 EL CAMINO REAL, SUITE 200, SAN DIEGO CA 92130
Francesco Ciabatti	director, other: See Remarks.	51 JOHN F. KENNEDY PARKWAY, SUITE 200, SHORT HILLS NJ 07078
J Heath Deneke	director, officer: See remarks below.	700 LOUISIANA STREET, SUITE 2550, HOUSTON TX 77002
James Lee Jacobe	director, other: See Remarks.	1790 HUGHES LANDING BLVD., SUITE 500, THE WOODLANDS TX 77380
Energy Capital Partners Ii-c (summit Ip), Lp	director, 10 percent owner	51 JOHN F. KENNEDY PARKWAY, SUITE 1250, SHORT HILLS NJ 07078
Energy Capital Partners Ii (summit Co-invest), Lp	director, 10 percent owner	C/O ENERGY CAPITAL PARTNERS II, 51 JOHN F. KENNEDY PARKWAY, SUITE 200, SHORT HILLS NJ 07078
Energy Capital Partners Ii-b Ip, Lp	director, 10 percent owner	51 JOHN F. KENNEDY PARKWAY, SUITE 1250, SHORT HILLS NJ 07078
Energy Capital Partners Ii, Llc	director, 10 percent owner, other: See Footnotes	51 JOHN F. KENNEDY PARKWAY, SUITE 1250, SHORT HILLS NJ 07078