Cleveland-Cliffs Inc (CLF)
Cash ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 54,000 | 39,000 | 110,000 | 30,000 | 198,000 | 31,000 | 34,000 | 59,000 | 26,000 | 56,000 | 47,000 | 35,000 | 48,000 | 42,000 | 73,000 | 110,000 | 112,000 | 56,000 | 73,700 | 186,900 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 3,322,000 | 3,255,000 | 3,318,000 | 3,396,000 | 3,508,000 | 3,294,000 | 3,408,000 | 3,460,000 | 3,549,000 | 3,580,000 | 3,987,000 | 3,751,000 | 3,561,000 | 3,279,000 | 2,986,000 | 2,933,000 | 2,929,000 | 1,214,100 | 1,038,000 | 1,370,800 |
| Cash ratio | 0.02 | 0.01 | 0.03 | 0.01 | 0.06 | 0.01 | 0.01 | 0.02 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.04 | 0.04 | 0.05 | 0.07 | 0.14 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($54,000K
+ $—K)
÷ $3,322,000K
= 0.02
The cash ratio measures a company's ability to cover its current liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger liquidity position.
For Cleveland-Cliffs Inc, the cash ratio has fluctuated over the reporting periods. The ratio was relatively high at 0.14 as of March 31, 2020, but decreased steadily to 0.01 as of September 30, 2021. This decline suggests a potential strain on the company's ability to meet short-term obligations with its available cash resources.
The ratio remained at 0.01 for several periods before showing slight increases in the subsequent quarters. Notably, there was a spike in the ratio to 0.06 as of December 31, 2023, which may indicate improved liquidity temporarily.
Overall, the cash ratio for Cleveland-Cliffs Inc has displayed volatility, with periods of both strength and weakness in liquidity. It is essential for the company to closely monitor its cash position to ensure it can meet its short-term debt obligations effectively.
Peer comparison
Dec 31, 2024