Current Ratio
since 2005
Calculation
Apache Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2015 | 2.04 | = | 3,752) | ÷ | 1,841) |
| Dec 31, 2014 | 1.75 | = | 6,415) | ÷ | 3,664) |
| Dec 31, 2013 | 1.35 | = | 6,366) | ÷ | 4,700) |
| Dec 31, 2012 | 0.90 | = | 4,962) | ÷ | 5,536) |
| Dec 31, 2011 | 0.97 | = | 4,803) | ÷ | 4,963) |
| Dec 31, 2010 | 0.99 | = | 3,480) | ÷ | 3,524) |
| Dec 31, 2009 | 1.92 | = | 4,586) | ÷ | 2,393) |
| Dec 31, 2008 | 1.70 | = | 4,451) | ÷ | 2,615) |
| Dec 31, 2007 | 1.03 | = | 2,752) | ÷ | 2,665) |
| Dec 31, 2006 | 0.65 | = | 2,490) | ÷ | 3,812) |
| Dec 31, 2005 | 0.99 | = | 2,162) | ÷ | 2,187) |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The analysis of the financial data reveals several notable trends in the company's liquidity position over the examined period.
- Current Assets
- Current assets showed a general upward trajectory from 2005 to 2014, increasing from 2,162 million USD to a peak of 6,415 million USD. This growth was interrupted in 2010 when current assets declined from 4,586 million USD in 2009 to 3,480 million USD. Thereafter, the assets rose again until 2014, followed by a sharp decline to 3,752 million USD in 2015. The fluctuations indicate periods of both asset build-up and drawdown, reflecting changing operational or investment activities.
- Current Liabilities
- Current liabilities exhibited significant volatility over the period. They rose substantially from 2,187 million USD in 2005 to a peak of 5,536 million USD in 2012, suggesting increased short-term obligations. After peaking, current liabilities decreased markedly, falling to 1,841 million USD by 2015. This decrease indicates a possible reduction in short-term debt or other liabilities, improving the company's short-term financial obligations profile.
- Current Ratio
- The current ratio, reflecting liquidity, showed significant variation. It dropped to a low of 0.65 in 2006, indicating potential short-term liquidity concerns. After 2006, the ratio improved markedly, reaching 1.92 in 2009, which suggests a healthy liquidity position at that time. However, it decreased below 1 again in 2010 and 2011, reflecting tighter liquidity. Subsequently, a consistent rise was observed from 2012 onwards, culminating at 2.04 in 2015, indicating that current assets surpassed current liabilities by more than twice, which implies strong short-term financial stability in the latter years.
Comparison to Competitors
Apache Corp., current ratio, long-term trends, comparison to competitors
| Apache Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | Occidental Petroleum Corp. | |
|---|---|---|---|---|---|
| Dec 31, 2015 | 2.04 | 1.34 | 0.95 | 0.79 | 1.37 |
| Dec 31, 2014 | 1.75 | 1.32 | 1.31 | 0.82 | 1.68 |
| Dec 31, 2013 | 1.35 | 1.52 | 1.26 | 0.83 | 1.34 |
| Dec 31, 2012 | 0.90 | 1.63 | 1.38 | 1.01 | 1.30 |
| Dec 31, 2011 | 0.97 | 1.58 | 1.08 | 0.94 | 1.45 |
| Dec 31, 2010 | 0.99 | 1.68 | 1.26 | 0.94 | 1.67 |
| Dec 31, 2009 | 1.92 | 1.42 | 0.89 | 1.06 | 1.33 |
| Dec 31, 2008 | 1.70 | 1.14 | 0.96 | 1.47 | 1.17 |
| Dec 31, 2007 | 1.03 | 1.17 | 0.92 | 1.47 | 1.37 |
| Dec 31, 2006 | 0.65 | 1.28 | 0.95 | 1.55 | 1.27 |
| Dec 31, 2005 | 0.99 | 1.37 | 0.92 | 1.58 | 1.54 |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Apache Corp., current ratio, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Apache Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2015 | 2.04 | 1.00 |
| Dec 31, 2014 | 1.75 | 1.07 |
| Dec 31, 2013 | 1.35 | 1.09 |
| Dec 31, 2012 | 0.90 | 1.25 |
| Dec 31, 2011 | 0.97 | 1.14 |
| Dec 31, 2010 | 0.99 | 1.23 |
| Dec 31, 2009 | 1.92 | 1.13 |
| Dec 31, 2008 | 1.70 | 1.25 |
| Dec 31, 2007 | 1.03 | 1.27 |
| Dec 31, 2006 | 0.65 | 1.32 |
| Dec 31, 2005 | 0.99 | 1.38 |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
Apache Corp., current ratio, long-term trends, comparison to industry (energy)
| Apache Corp. | Energy | |
|---|---|---|
| Dec 31, 2015 | 2.04 | 1.11 |
| Dec 31, 2014 | 1.75 | 1.14 |
| Dec 31, 2013 | 1.35 | 1.17 |
| Dec 31, 2012 | 0.90 | 1.31 |
| Dec 31, 2011 | 0.97 | 1.20 |
| Dec 31, 2010 | 0.99 | 1.26 |
| Dec 31, 2009 | 1.92 | 1.17 |
| Dec 31, 2008 | 1.70 | 1.28 |
| Dec 31, 2007 | 1.03 | 1.28 |
| Dec 31, 2006 | 0.65 | 1.33 |
| Dec 31, 2005 | 0.99 | 1.39 |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).