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PrimeEnergy Resources (PrimeEnergy Resources) Quick Ratio : 0.49 (As of Dec. 2023)


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What is PrimeEnergy Resources 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. PrimeEnergy Resources's quick ratio for the quarter that ended in Dec. 2023 was 0.49.

PrimeEnergy Resources has a quick ratio of 0.49. It indicates that the company cannot currently fully pay back its current liabilities.

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

PNRG' s Quick Ratio Range Over the Past 10 Years
Min: 0.49   Med: 0.91   Max: 1.76
Current: 0.49

During the past 13 years, PrimeEnergy Resources's highest Quick Ratio was 1.76. The lowest was 0.49. And the median was 0.91.

PNRG's Quick Ratio is ranked worse than
84.84% of 1075 companies
in the Oil & Gas industry
Industry Median: 1.11 vs PNRG: 0.49

PrimeEnergy Resources Quick Ratio Historical Data

The historical data trend for PrimeEnergy Resources'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.

* Premium members only.

PrimeEnergy Resources Quick Ratio Chart

PrimeEnergy Resources Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Quick Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.05 0.63 1.17 1.76 0.49

PrimeEnergy Resources Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Quick 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 1.76 0.94 0.94 0.90 0.49

Competitive Comparison of PrimeEnergy Resources's Quick Ratio

For the Oil & Gas E&P subindustry, PrimeEnergy Resources'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.


PrimeEnergy Resources's Quick Ratio Distribution in the Oil & Gas Industry

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

* The bar in red indicates where PrimeEnergy Resources's Quick Ratio falls into.



PrimeEnergy Resources 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.

PrimeEnergy Resources's Quick Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Quick Ratio (A: Dec. 2023 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(31.776-0)/64.809
=0.49

PrimeEnergy Resources's Quick Ratio for the quarter that ended in Dec. 2023 is calculated as

Quick Ratio (Q: Dec. 2023 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(31.776-0)/64.809
=0.49

* 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.


PrimeEnergy Resources  (NAS:PNRG) 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.


PrimeEnergy Resources Quick Ratio Related Terms

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PrimeEnergy Resources (PrimeEnergy Resources) Business Description

Traded in Other Exchanges
N/A
Address
9821 Katy Freeway, Houston, TX, USA, 77024
PrimeEnergy Resources Corp is an independent oil and natural gas company that is engaged in acquiring, developing, and producing oil and natural gas. It owns producing and non-producing properties located in Texas and Oklahoma. The company's business activities include development and exploratory drilling and provide well servicing support operations for many of the onshore oil and gas wells through its subsidiaries. It is also active in the acquisition of producing oil and gas properties through joint ventures with industry partners.
Executives
Rothschild Robert De 10 percent owner 1251 AVENUE OF THE AMERICAS 51ST FL, NEW YORK NY 10020
Clint Hurt director 4015 HOLLAND #101, DALLAS TX 75219
Drimal Charles E Jr director, 10 percent owner, officer: Chief Executive Officer 4015 HOLLAND #101, DALLAS TX 75219
Gaines Wehrle director, 10 percent owner
Gifford Fong director
Jan K Smeets director 4015 HOLLAND #101, DALLAS TX 75219
Mcjunkin Red Man Holding Corp 10 percent owner FULBRIGHT TOWER, 1301 MCKINNEY STREET, SUITE 2300, HOUSTON TX 77010
Mcjunkin Red Man Corp 10 percent owner 2 HOUSTON CENTER, 909 FANNIN, SUITE 3100, HOUSTON TX 77010
Rene Pierre Azria 10 percent owner C/O JARDEN CORP, 555 THEODORE FREMD AVE, RYE NY 10580
Gimbel Thomas S T director
Goldman Sachs Group Inc 10 percent owner 200 WEST STREET, NEW YORK NY 10282
Goldman Sachs & Co. Llc 10 percent owner 200 WEST STREET, NEW YORK NY 10282
Gs Capital Partners Vi Gmbh & Co Kg 10 percent owner 200 WEST STREET, New York NY 10282
Gs Capital Partners Vi Parallel Lp 10 percent owner 85 Broad St, New York NY 10004
Gs Advisors Vi, L.l.c. 10 percent owner 1209 ORANGE STREET, WILMINGTON DE 19801