In the wake of the increase in Current Liabilities in the third quarter 2024, Quick Ratio fell to 0.15 below Independence Contract Drilling Inc average.

Within Oil Well Services & Equipment industry 6 other companies have achieved higher Quick Ratio than Independence Contract Drilling Inc in third quarter 2024. While Quick Ratio total ranking in the third quarter 2024 has deteriorated compared to the prior quarter from 2610 to 2714.

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ICDI Quick Ratio	(Sep 30 2024) Q3	(Jun 30 2024) Q2	(Mar 31 2024) Q1	(Dec 31 2023) Q4	(Sep 30 2023) Q3
Y / Y Current Liabilities Change	30.88 %	-6.78 %	-29.28 %	-22.01 %	-32.21 %
Y / Y Cash & cash equivalent Change	0.55 %	-0.75 %	3.41 %	4.49 %	-20.12 %
Quick Ratio MRQ	0.15	0.19	0.23	0.14	0.2
ICDI's Total Ranking	# 2714	# 2610	# 2501	# 2884	# 2727
Seq. Current Liabilities Change	34.92 %	-0.74 %	-25.82 %	31.74 %	-3.91 %
Seq. Cash & cash equivalent Change	9.65 %	-20.19 %	24.78 %	-7.93 %	8.24 %

Quick Ratio third quarter 2024 Company Ranking
Within:	No.
Oil Well Services & Equipment Industry	# 7
Energy Sector	# 83
Overall Market	# 2714

Quick Ratio Statistics
High	Average	Low
1.1	0.3	0.1
(Sep 30 2020)		(Dec 31 2022)

Financial Statements
Independence Contract Drilling Inc 's Current Liabilities	$ 40 Millions	Visit ICDI's Balance sheet
Independence Contract Drilling Inc 's Cash & cash equivalent	$ 6 Millions	Visit ICDI's Balance sheet
Source of ICDI's Sales		Visit ICDI's Sales by Geography

Cumulative Independence Contract Drilling Inc 's Quick Ratio

ICDI's Quick Ratio for the trailling 12 Months

ICDI Quick Ratio	(Sep 30 2024) 12 Months	(Jun 30 2024) 12 Months	(Mar 31 2024) 12 Months	(Dec 31 2023) 12 Months	(Sep 30 2023) 12 Months
Y / Y Current Liabilities TTM Growth	-10.53 %	-23.66 %	-24.25 %	-12.57 %	2.74 %
Y / Y Cash & cash equivalent TTM Growth	1.94 %	-4.35 %	-10.27 %	-19.03 %	-16.49 %
Quick Ratio TTM	0.17	0.18	0.18	0.16	0.15
Total Ranking TTM	# 3616	# 3354	# 3480	# 2958	# 3483
Seq. Current Liabilities TTM Growth	7.24 %	-1.63 %	-8.54 %	-7.27 %	-8.5 %
Seq. Cash & cash equivalent TTM Growth	0.14 %	-0.17 %	0.96 %	1.01 %	-6.04 %

Quick ratio ranking by company, industry and sector >> Back to ICDI Financial Strength Comparisons >> Go to Compare ICDI Quick Ratio to its Competitors

On the trailing twelve months basis Due to growth in Current Liabilities in the Q3 2024 to $40.32 millions, cumulative Quick Ratio decreased to 0.17 below the Independence Contract Drilling Inc average Quick Ratio.
Quick Ratio is the average cumulative value over the last four quarters.

Among companies operating within Oil Well Services & Equipment industry 8 other companies have achieved higher Quick Ratio than Independence Contract Drilling Inc . While Quick Ratio total ranking has deteriorated compared to the previous twelve months ending in the second quarter 2024 from 3354 to 3616.

Explain Quick Ratio?
How much Cash & cash equivalents ICDI�s has?
What are ICDI�s Current Liabilities?

TTM Quick Ratio Company Ranking
Within:	No.
Within the Oil Well Services & Equipment Industry	# 9
Energy Sector	# 137
Within the Market	# 3616

trailing twelve months Quick Ratio Statistics
High	Average	Low
0.51	0.27	0.13
(Dec 31 2016)		(Sep 30 2018)

Companies with similar Quick Ratio in the quarter ending Sep 30 2024, within Oil Well Services & Equipment Industry	Quick Ratio	Sep 30 2024 MRQ Cash & cash equivalent	Sep 30 2024 MRQ Current Liabilities
Independence Contract Drilling inc	0.15	$ 6.077 Millions	$ 40.322 Millions
Borr Drilling Limited	0.15	$ 61.600 Millions	$ 409.600 Millions
Team Inc	0.11	$ 19.087 Millions	$ 174.805 Millions
Precision Drilling Corporation	0.09	$ 56.509 Millions	$ 622.351 Millions
Sunrise Communications Ag	0.06	$ 387.958 Millions	$ 6,869.431 Millions

Date modified: 2026-09-26T07:03:58+00:00

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