Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Texas Pacific Land Corp., liquidity ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Current ratio | 19.43 | 16.00 | 10.34 | 15.56 | 14.99 | |
| Quick ratio | 19.24 | 15.53 | 10.28 | 15.40 | 14.99 | |
| Cash ratio | 16.34 | 12.90 | 8.41 | 13.15 | 12.41 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Texas Pacific Land Corp. current ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Texas Pacific Land Corp. quick ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Texas Pacific Land Corp. cash ratio improved from 2021 to 2022 and from 2022 to 2023. |
Current Ratio
Texas Pacific Land Corp., current ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current assets | 862,464) | 633,401) | 526,513) | 332,530) | 366,640) | |
| Current liabilities | 44,387) | 39,595) | 50,900) | 21,376) | 24,464) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 19.43 | 16.00 | 10.34 | 15.56 | 14.99 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| Chevron Corp. | 1.27 | 1.47 | 1.26 | 1.18 | — | |
| ConocoPhillips | 1.43 | 1.46 | 1.34 | 2.25 | 2.40 | |
| Exxon Mobil Corp. | 1.48 | 1.41 | 1.04 | 0.80 | 0.78 | |
| Occidental Petroleum Corp. | 0.92 | 1.15 | 1.23 | 1.07 | 1.25 | |
| Current Ratio, Sector | ||||||
| Oil, Gas & Consumable Fuels | 1.37 | 1.42 | 1.15 | 1.00 | — | |
| Current Ratio, Industry | ||||||
| Energy | 1.37 | 1.40 | 1.15 | 1.02 | — | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 862,464 ÷ 44,387 = 19.43
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Texas Pacific Land Corp. current ratio improved from 2021 to 2022 and from 2022 to 2023. |
Quick Ratio
Texas Pacific Land Corp., quick ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 725,169) | 510,834) | 428,242) | 281,046) | 303,645) | |
| Accounts receivable and accrued receivables, net | 128,971) | 103,983) | 95,217) | 48,216) | 62,995) | |
| Total quick assets | 854,140) | 614,817) | 523,459) | 329,262) | 366,640) | |
| Current liabilities | 44,387) | 39,595) | 50,900) | 21,376) | 24,464) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 19.24 | 15.53 | 10.28 | 15.40 | 14.99 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| Chevron Corp. | 0.87 | 1.12 | 0.90 | 0.77 | — | |
| ConocoPhillips | 1.21 | 1.27 | 1.10 | 1.98 | 1.93 | |
| Exxon Mobil Corp. | 1.06 | 1.03 | 0.69 | 0.44 | 0.47 | |
| Occidental Petroleum Corp. | 0.51 | 0.68 | 0.84 | 0.50 | 0.63 | |
| Quick Ratio, Sector | ||||||
| Oil, Gas & Consumable Fuels | 0.98 | 1.06 | 0.80 | 0.62 | — | |
| Quick Ratio, Industry | ||||||
| Energy | 0.97 | 1.04 | 0.81 | 0.63 | — | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 854,140 ÷ 44,387 = 19.24
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Texas Pacific Land Corp. quick ratio improved from 2021 to 2022 and from 2022 to 2023. |
Cash Ratio
Texas Pacific Land Corp., cash ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 725,169) | 510,834) | 428,242) | 281,046) | 303,645) | |
| Total cash assets | 725,169) | 510,834) | 428,242) | 281,046) | 303,645) | |
| Current liabilities | 44,387) | 39,595) | 50,900) | 21,376) | 24,464) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 16.34 | 12.90 | 8.41 | 13.15 | 12.41 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| Chevron Corp. | 0.25 | 0.52 | 0.21 | 0.25 | — | |
| ConocoPhillips | 0.66 | 0.72 | 0.55 | 1.46 | 1.45 | |
| Exxon Mobil Corp. | 0.48 | 0.43 | 0.12 | 0.08 | 0.05 | |
| Occidental Petroleum Corp. | 0.16 | 0.13 | 0.33 | 0.24 | 0.20 | |
| Cash Ratio, Sector | ||||||
| Oil, Gas & Consumable Fuels | 0.41 | 0.47 | 0.21 | 0.22 | — | |
| Cash Ratio, Industry | ||||||
| Energy | 0.40 | 0.45 | 0.22 | 0.22 | — | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 725,169 ÷ 44,387 = 16.34
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Texas Pacific Land Corp. cash ratio improved from 2021 to 2022 and from 2022 to 2023. |