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. Karoon Energy's current ratio for the quarter that ended in Dec. 2023 was 1.15.
Karoon Energy has a current ratio of 1.15. It generally indicates good short-term financial strength.
The historical rank and industry rank for Karoon Energy's Current Ratio or its related term are showing as below:
KRNGY'
s Current Ratio Range Over the Past 10 Years
Min: 0.85 Med: 12.42 Max: 50.01
Current: 1.15
During the past 13 years, Karoon Energy's highest Current Ratio was 50.01. The lowest was 0.85. And the median was 12.42.
KRNGY's Current Ratio is ranked worse than 58.88% of 1075
companies
in the Oil & Gas industry
Industry Median: 1.34
vs KRNGY: 1.15
Karoon Energy Current Ratio Historical Data
The historical data trend for Karoon Energy'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.
Competitive Comparison of Karoon Energy's Current Ratio
For the Oil & Gas E&P subindustry, Karoon Energy'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.
Karoon Energy's Current Ratio Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Karoon Energy's Current Ratio distribution charts can be found below:
* The bar in red indicates where Karoon Energy's Current Ratio falls into.
Karoon Energy 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.
Karoon Energy's Current Ratio for the fiscal year that ended in Jun. 2023 is calculated as
* 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.
Karoon Energy (OTCPK:KRNGY) 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.
Karoon Energy Current Ratio Related Terms
Thank you for viewing the detailed overview of Karoon Energy's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Karoon Energy (Karoon Energy) Business Description
Karoon produces around 8 million barrels of oil annually from its wholly owned Bauna field in Brazil's offshore Santos basin. The company acquired Bauna from Petrobras in 2020 and has been steadily increasing production via well interventions and new developments. Field life is approaching eight years based on proven and probable 2P reserves of 55 million barrels at end December 2022, though this excludes a further 82 million barrels in 2C contingent resources which which have potential to increase life further. We credit life of approximately 10 years, assuming partial conversion of 2C contingent resources into reserve category with drilling. There are also prospective untested targets within Karoon's permits which could potentially add further reserves in the medium term.
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