Abraxas Petroleum (Abraxas Petroleum) Quick Ratio : 1.76 (As of Dec. 2022)

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What is Abraxas Petroleum Quick Ratio?

The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. Abraxas Petroleum's quick ratio for the quarter that ended in Dec. 2022 was 1.76.

Abraxas Petroleum has a quick ratio of 1.76. It generally indicates good short-term financial strength.

The historical rank and industry rank for Abraxas Petroleum's Quick Ratio or its related term are showing as below:

AXAS's Quick Ratio is not ranked ^*
in the Oil & Gas industry.
Industry Median: 1.11
* Ranked among companies with meaningful Quick Ratio only.

Abraxas Petroleum Quick Ratio Historical Data

The historical data trend for Abraxas Petroleum's Quick 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.

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Abraxas Petroleum Quick Ratio Chart

Abraxas Petroleum Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Quick Ratio

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0.79

0.42

0.11

0.10

1.76

Abraxas Petroleum Quarterly Data
	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22
Quick Ratio	Get a 7-Day Free Trial															0.10	1.50	2.12	2.86	1.76

Competitive Comparison of Abraxas Petroleum's Quick Ratio

For the Oil & Gas E&P subindustry, Abraxas Petroleum's Quick Ratio, along with its competitors' market caps and Quick 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.

Abraxas Petroleum's Quick Ratio Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Abraxas Petroleum's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Abraxas Petroleum's Quick Ratio falls into.

Abraxas Petroleum Quick Ratio Calculation

The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.

Abraxas Petroleum's Quick Ratio for the fiscal year that ended in Dec. 2022 is calculated as

Quick Ratio (A: Dec. 2022 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(11.213	-	0)	/	6.369
	=	1.76

Abraxas Petroleum's Quick Ratio for the quarter that ended in Dec. 2022 is calculated as

Quick Ratio (Q: Dec. 2022 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(11.213	-	0)	/	6.369
	=	1.76

Abraxas Petroleum (OTCPK:AXAS) Quick Ratio Explanation

The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.

In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.

The higher the quick ratio, the better the company's liquidity position.

Abraxas Petroleum Quick Ratio Related Terms

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Abraxas Petroleum (Abraxas Petroleum) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Abraxas Petroleum Corp (OTCPK:AXAS) » Definitions » Quick Ratio

Comparable Companies

Traded in Other Exchanges

N/A

Address

19100 Ridgewood Parkway, Suite 1200, San Antonio, TX, USA, 78259

Website

http://www.abraxaspetroleum.com

Abraxas Petroleum Corp is an independent energy company. It is primarily engaged in the acquisition, exploration, development, and production of oil and gas in the United States. The company's oil and gas assets are located in two operating regions, the Permian/Delaware Basin and the Rocky Mountain. It produces oil and gas from multiple stacked formations and various reservoirs, primarily the Bakken, Three Forks, and Red River formations. It generates the vast majority of its revenue from oil sales.

Executives

Krog George William Jr	officer: Chief Accounting Officer	18803 MEISNER DRIVE, SAN ANTONIO TX 78258
Biglari Holdings Inc.	10 percent owner	19100 RIDGEWOOD PKWY, SUITE 1200, SAN ANTONIO TX 78259
Sardar Biglari,	director	C/O BIGLARI HOLDINGS INC., 19100 RIDGEWOOD PKWY, SUITE 1200, SAN ANTONIO TX 78259
Bruce Lewis	director	17802 IH 10 WEST, SUITE 400, SAN ANTONIO TX 78257
Philip L Cooley	director	TRINITY UNIVERSITY, ONE TRINITY PLACE, SAN ANTONIO TX 78212-7200
David N Roberts	director	245 PARK AVE 26TH FL, C/O ANGELO GRODON & CO, NEW YORK NY 10167
Daniel Baddeloo	director	245 PARK AVENUE, 26TH FLOOR, NEW YORK NY 10167
Damon Putman	director	245 PARK AVENUE, 26TH FLOOR, NEW YORK NY 10167
Joshua Baumgarten	10 percent owner	100 BELLEVUE PARKWAY, WILMINGTON DE 19809
Adam R Schwartz	10 percent owner	245 PARK AVENUE, 26TH FLOOR, NEW YORK NY 10167
Todd A Dittmann	director	C/O ANGELO, GORDON & CO., L.P., 712 MAIN STREET, SUITE 1300, HOUSTON TX 77002
Ag Partners Lp	director, 10 percent owner	C/O ANGELO GORDON & CO, 245 PARK AVE 26TH FL, NEW YORK NY 10167
Angelo Gordon & Co Lp/ny	director, 10 percent owner	245 PARK AVENUE, 26TH FLOOR, NEW YORK NY 10167
Michael L Gordon	director, 10 percent owner	C/O ANGELO GORDON & CO, 245 PARK AVE 26TH FL, NEW YORK NY 10167
Ag Energy Funding, Llc	director, 10 percent owner	C/O ANGELO, GORDON & CO., L.P., 245 PARK AVENUE, 26TH FLOOR, NEW YORK NY 10167