Current Ratio
since 2005
Calculation
Texas Pacific Land Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 19.43 | = | 862,464) | ÷ | 44,387) |
| Dec 31, 2022 | 16.00 | = | 633,401) | ÷ | 39,595) |
| Dec 31, 2021 | 10.34 | = | 526,513) | ÷ | 50,900) |
| Dec 31, 2020 | 15.56 | = | 332,530) | ÷ | 21,376) |
| Dec 31, 2019 | — | = | —) | ÷ | —) |
| Dec 31, 2018 | — | = | —) | ÷ | —) |
| Dec 31, 2017 | — | = | —) | ÷ | —) |
| Dec 31, 2016 | — | = | —) | ÷ | —) |
| Dec 31, 2015 | — | = | —) | ÷ | —) |
| Dec 31, 2014 | — | = | —) | ÷ | —) |
| Dec 31, 2013 | — | = | —) | ÷ | —) |
| Dec 31, 2012 | — | = | —) | ÷ | —) |
| Dec 31, 2011 | — | = | —) | ÷ | —) |
| Dec 31, 2010 | — | = | —) | ÷ | —) |
| Dec 31, 2009 | — | = | —) | ÷ | —) |
| Dec 31, 2008 | — | = | —) | ÷ | —) |
| Dec 31, 2007 | — | = | —) | ÷ | —) |
| Dec 31, 2006 | — | = | —) | ÷ | —) |
| Dec 31, 2005 | — | = | —) | ÷ | —) |
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 thousands
The financial position between 2020 and 2023 is characterized by a significant expansion of current assets and an exceptionally high liquidity profile. Current assets grew consistently from 332,530 thousand US dollars in 2020 to 862,464 thousand US dollars by the end of 2023, indicating a substantial accumulation of short-term resources.
- Current Asset Trends
- A strong upward trajectory is observed in current assets, which more than doubled over the analyzed four-year period. This growth suggests an increasing capacity to meet short-term obligations and an accumulation of liquid capital.
- Current Liability Trends
- Current liabilities remained relatively low and stable in comparison to assets. Although a peak was observed in 2021 at 50,900 thousand US dollars, the balance decreased to 44,387 thousand US dollars by 2023, reflecting a controlled short-term debt environment.
- Current Ratio Interpretation
- The current ratio remained at an extremely high level throughout the period, fluctuating from 15.56 in 2020 to a low of 10.34 in 2021, before rising to 19.43 in 2023. These figures indicate a massive surplus of current assets over current liabilities, signifying negligible short-term solvency risk and a highly conservative liquidity posture.
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Comparison to Competitors
Texas Pacific Land Corp., current ratio, long-term trends, comparison to competitors
| Texas Pacific Land Corp. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2023 | 19.43 | 1.27 | 1.43 | 1.48 |
| Dec 31, 2022 | 16.00 | 1.47 | 1.46 | 1.41 |
| Dec 31, 2021 | 10.34 | 1.26 | 1.34 | 1.04 |
| Dec 31, 2020 | 15.56 | 1.18 | 2.25 | 0.80 |
| Dec 31, 2019 | — | 1.07 | 2.40 | 0.78 |
| Dec 31, 2018 | — | 1.25 | 1.79 | 0.84 |
| Dec 31, 2017 | — | 1.03 | 1.76 | 0.82 |
| Dec 31, 2016 | — | 0.93 | 1.25 | 0.87 |
| Dec 31, 2015 | — | 1.34 | 0.95 | 0.79 |
| Dec 31, 2014 | — | 1.32 | 1.31 | 0.82 |
| Dec 31, 2013 | — | 1.52 | 1.26 | 0.83 |
| Dec 31, 2012 | — | 1.63 | 1.38 | 1.01 |
| Dec 31, 2011 | — | 1.58 | 1.08 | 0.94 |
| Dec 31, 2010 | — | 1.68 | 1.26 | 0.94 |
| Dec 31, 2009 | — | 1.42 | 0.89 | 1.06 |
| Dec 31, 2008 | — | 1.14 | 0.96 | 1.47 |
| Dec 31, 2007 | — | 1.17 | 0.92 | 1.47 |
| Dec 31, 2006 | — | 1.28 | 0.95 | 1.55 |
| Dec 31, 2005 | — | 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)
Texas Pacific Land Corp., current ratio, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Texas Pacific Land Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2023 | 19.43 | 1.41 |
| Dec 31, 2022 | 16.00 | 1.44 |
| Dec 31, 2021 | 10.34 | 1.14 |
| Dec 31, 2020 | 15.56 | 0.99 |
| Dec 31, 2019 | — | 0.98 |
| Dec 31, 2018 | — | 1.04 |
| Dec 31, 2017 | — | 0.97 |
| Dec 31, 2016 | — | 0.92 |
| Dec 31, 2015 | — | 0.97 |
| Dec 31, 2014 | — | 1.02 |
| Dec 31, 2013 | — | 1.07 |
| Dec 31, 2012 | — | 1.25 |
| Dec 31, 2011 | — | 1.12 |
| Dec 31, 2010 | — | 1.20 |
| Dec 31, 2009 | — | 1.11 |
| Dec 31, 2008 | — | 1.26 |
| Dec 31, 2007 | — | 1.26 |
| Dec 31, 2006 | — | 1.32 |
| Dec 31, 2005 | — | 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)
Texas Pacific Land Corp., current ratio, long-term trends, comparison to industry (energy)
| Texas Pacific Land Corp. | Energy | |
|---|---|---|
| Dec 31, 2023 | 19.43 | 1.40 |
| Dec 31, 2022 | 16.00 | 1.42 |
| Dec 31, 2021 | 10.34 | 1.15 |
| Dec 31, 2020 | 15.56 | 1.02 |
| Dec 31, 2019 | — | 1.00 |
| Dec 31, 2018 | — | 1.06 |
| Dec 31, 2017 | — | 1.00 |
| Dec 31, 2016 | — | 1.02 |
| Dec 31, 2015 | — | 1.09 |
| Dec 31, 2014 | — | 1.10 |
| Dec 31, 2013 | — | 1.16 |
| Dec 31, 2012 | — | 1.31 |
| Dec 31, 2011 | — | 1.18 |
| Dec 31, 2010 | — | 1.24 |
| Dec 31, 2009 | — | 1.17 |
| Dec 31, 2008 | — | 1.28 |
| Dec 31, 2007 | — | 1.27 |
| Dec 31, 2006 | — | 1.33 |
| Dec 31, 2005 | — | 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).