Current Ratio
since 2005
Calculation
Pioneer Natural Resources Co., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.88 | = | 2,605) | ÷ | 2,974) |
| Dec 31, 2022 | 0.96 | = | 3,726) | ÷ | 3,887) |
| Dec 31, 2021 | 1.52 | = | 6,173) | ÷ | 4,073) |
| Dec 31, 2020 | 1.36 | = | 2,595) | ÷ | 1,906) |
| Dec 31, 2019 | 0.88 | = | 2,191) | ÷ | 2,496) |
| Dec 31, 2018 | 1.42 | = | 2,580) | ÷ | 1,818) |
| Dec 31, 2017 | 1.41 | = | 3,010) | ÷ | 2,128) |
| Dec 31, 2016 | 2.11 | = | 3,298) | ÷ | 1,566) |
| Dec 31, 2015 | 2.18 | = | 3,194) | ÷ | 1,462) |
| Dec 31, 2014 | 1.49 | = | 2,359) | ÷ | 1,580) |
| Dec 31, 2013 | 1.38 | = | 1,728) | ÷ | 1,250) |
| Dec 31, 2012 | 1.02 | = | 1,050) | ÷ | 1,035) |
| Dec 31, 2011 | 1.46 | = | 1,479) | ÷ | 1,012) |
| Dec 31, 2010 | 1.56 | = | 1,197) | ÷ | 769) |
| Dec 31, 2009 | 1.08 | = | 616) | ÷ | 571) |
| Dec 31, 2008 | 0.70 | = | 487) | ÷ | 695) |
| Dec 31, 2007 | 0.77 | = | 765) | ÷ | 994) |
| Dec 31, 2006 | 0.60 | = | 537) | ÷ | 887) |
| Dec 31, 2005 | 0.60 | = | 624) | ÷ | 1,033) |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 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 liquidity position of the organization exhibits a cyclical trend over the analyzed period, characterized by an initial phase of deficiency, a prolonged period of strengthening, and a recent return to a more constrained liquidity state.
- Initial Liquidity Constraint (2005–2008)
- During this period, the current ratio remained consistently below 1.0, starting at 0.60 in 2005 and reaching 0.77 by 2007 before dipping to 0.70 in 2008. This indicates that current liabilities exceeded current assets, suggesting a reliance on external financing or operational cash flow to meet short-term obligations.
- Growth and Liquidity Peak (2009–2016)
- A significant shift occurred in 2009 when the current ratio first surpassed 1.0, reaching 1.08. Liquidity continued to improve, peaking at 2.18 in 2015. This era was marked by a substantial increase in current assets, which grew from 616 million USD in 2009 to a high of 3,298 million USD in 2016, while liabilities were managed more conservatively.
- Recent Volatility and Contraction (2017–2023)
- Following the peak, the current ratio experienced increased volatility. A notable decline occurred in 2019, with the ratio falling to 0.88. While there was a recovery peaking at 1.52 in 2021—driven by a surge in current assets to 6,173 million USD—the ratio subsequently declined again to 0.88 by the end of 2023.
The relationship between current assets and current liabilities shows a general correlation in growth, particularly between 2010 and 2021. However, the most recent data indicates a contraction in assets that has outpaced the reduction in liabilities, resulting in a current ratio that has fallen below the 1.0 threshold for the second time in the company's recorded history.
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Comparison to Competitors
Pioneer Natural Resources Co., current ratio, long-term trends, comparison to competitors
| Pioneer Natural Resources Co. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2023 | 0.88 | 1.27 | 1.43 | 1.48 |
| Dec 31, 2022 | 0.96 | 1.47 | 1.46 | 1.41 |
| Dec 31, 2021 | 1.52 | 1.26 | 1.34 | 1.04 |
| Dec 31, 2020 | 1.36 | 1.18 | 2.25 | 0.80 |
| Dec 31, 2019 | 0.88 | 1.07 | 2.40 | 0.78 |
| Dec 31, 2018 | 1.42 | 1.25 | 1.79 | 0.84 |
| Dec 31, 2017 | 1.41 | 1.03 | 1.76 | 0.82 |
| Dec 31, 2016 | 2.11 | 0.93 | 1.25 | 0.87 |
| Dec 31, 2015 | 2.18 | 1.34 | 0.95 | 0.79 |
| Dec 31, 2014 | 1.49 | 1.32 | 1.31 | 0.82 |
| Dec 31, 2013 | 1.38 | 1.52 | 1.26 | 0.83 |
| Dec 31, 2012 | 1.02 | 1.63 | 1.38 | 1.01 |
| Dec 31, 2011 | 1.46 | 1.58 | 1.08 | 0.94 |
| Dec 31, 2010 | 1.56 | 1.68 | 1.26 | 0.94 |
| Dec 31, 2009 | 1.08 | 1.42 | 0.89 | 1.06 |
| Dec 31, 2008 | 0.70 | 1.14 | 0.96 | 1.47 |
| Dec 31, 2007 | 0.77 | 1.17 | 0.92 | 1.47 |
| Dec 31, 2006 | 0.60 | 1.28 | 0.95 | 1.55 |
| Dec 31, 2005 | 0.60 | 1.37 | 0.92 | 1.58 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 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)
Pioneer Natural Resources Co., current ratio, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Pioneer Natural Resources Co. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2023 | 0.88 | 1.41 |
| Dec 31, 2022 | 0.96 | 1.44 |
| Dec 31, 2021 | 1.52 | 1.14 |
| Dec 31, 2020 | 1.36 | 0.99 |
| Dec 31, 2019 | 0.88 | 0.98 |
| Dec 31, 2018 | 1.42 | 1.04 |
| Dec 31, 2017 | 1.41 | 0.97 |
| Dec 31, 2016 | 2.11 | 0.92 |
| Dec 31, 2015 | 2.18 | 0.97 |
| Dec 31, 2014 | 1.49 | 1.02 |
| Dec 31, 2013 | 1.38 | 1.07 |
| Dec 31, 2012 | 1.02 | 1.25 |
| Dec 31, 2011 | 1.46 | 1.12 |
| Dec 31, 2010 | 1.56 | 1.20 |
| Dec 31, 2009 | 1.08 | 1.11 |
| Dec 31, 2008 | 0.70 | 1.26 |
| Dec 31, 2007 | 0.77 | 1.26 |
| Dec 31, 2006 | 0.60 | 1.32 |
| Dec 31, 2005 | 0.60 | 1.37 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 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)
Pioneer Natural Resources Co., current ratio, long-term trends, comparison to industry (energy)
| Pioneer Natural Resources Co. | Energy | |
|---|---|---|
| Dec 31, 2023 | 0.88 | 1.40 |
| Dec 31, 2022 | 0.96 | 1.42 |
| Dec 31, 2021 | 1.52 | 1.15 |
| Dec 31, 2020 | 1.36 | 1.02 |
| Dec 31, 2019 | 0.88 | 1.00 |
| Dec 31, 2018 | 1.42 | 1.06 |
| Dec 31, 2017 | 1.41 | 1.00 |
| Dec 31, 2016 | 2.11 | 1.02 |
| Dec 31, 2015 | 2.18 | 1.09 |
| Dec 31, 2014 | 1.49 | 1.10 |
| Dec 31, 2013 | 1.38 | 1.16 |
| Dec 31, 2012 | 1.02 | 1.31 |
| Dec 31, 2011 | 1.46 | 1.18 |
| Dec 31, 2010 | 1.56 | 1.24 |
| Dec 31, 2009 | 1.08 | 1.17 |
| Dec 31, 2008 | 0.70 | 1.28 |
| Dec 31, 2007 | 0.77 | 1.27 |
| Dec 31, 2006 | 0.60 | 1.33 |
| Dec 31, 2005 | 0.60 | 1.38 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 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).