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Western Energy Services (Western Energy Services) Current Ratio : 2.17 (As of Mar. 2024)


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What is Western Energy Services 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. Western Energy Services's current ratio for the quarter that ended in Mar. 2024 was 2.17.

Western Energy Services has a current ratio of 2.17. It generally indicates good short-term financial strength.

The historical rank and industry rank for Western Energy Services's Current Ratio or its related term are showing as below:

WEEEF' s Current Ratio Range Over the Past 10 Years
Min: 0.19   Med: 1.74   Max: 5.64
Current: 2.17

During the past 13 years, Western Energy Services's highest Current Ratio was 5.64. The lowest was 0.19. And the median was 1.74.

WEEEF's Current Ratio is ranked better than
71.55% of 1079 companies
in the Oil & Gas industry
Industry Median: 1.34 vs WEEEF: 2.17

Western Energy Services Current Ratio Historical Data

The historical data trend for Western Energy Services'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.

Western Energy Services Current Ratio Chart

Western Energy Services Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Current Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.22 1.58 1.06 1.55 1.66

Western Energy Services Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Current Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.97 1.59 1.48 1.66 2.17

Competitive Comparison of Western Energy Services's Current Ratio

For the Oil & Gas Drilling subindustry, Western Energy Services'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.


Western Energy Services's Current Ratio Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Western Energy Services's Current Ratio distribution charts can be found below:

* The bar in red indicates where Western Energy Services's Current Ratio falls into.



Western Energy Services 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.

Western Energy Services'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 )
=37.816/22.815
=1.66

Western Energy Services's Current Ratio for the quarter that ended in Mar. 2024 is calculated as

Current Ratio (Q: Mar. 2024 )=Total Current Assets (Q: Mar. 2024 )/Total Current Liabilities (Q: Mar. 2024 )
=40.381/18.644
=2.17

* 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.


Western Energy Services  (OTCPK:WEEEF) 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.


Western Energy Services Current Ratio Related Terms

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Western Energy Services (Western Energy Services) Business Description

Traded in Other Exchanges
Address
215 - 9th Avenue SW, Suite 1700, Calgary, AB, CAN, T2P 1K3
Western Energy Services Corp operates as an oilfield service industry in Canada and the United States of America. The company functions its drilling services through two segments namely, Contract drilling and Production services. Its contract drilling segment is involved in drilling rigs with ancillary equipment as well as provides such services to crude oil and natural gas exploration and production companies. The production service segment includes well servicing rigs and related equipment, and oilfield rental equipment. It generates revenue mainly through its Contract drilling operation segment.

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