Cleveland-Cliffs Inc (CLF)
Cash ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 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 | 353,000 | 399,300 | 377,200 | 430,200 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 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 | 409,000 | 458,500 | 437,400 | 394,000 |
| Cash ratio | 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 | 0.86 | 0.87 | 0.86 | 1.09 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($198,000K
+ $—K)
÷ $3,508,000K
= 0.06
The cash ratio of Cleveland-Cliffs Inc has fluctuated over the past eight quarters. The company's cash ratio ranged from a low of 0.04 in Q2 2023 to a high of 0.13 in Q3 2022.
A cash ratio of 0.10 in Q4 2023 indicates that for every $1 of current liabilities, Cleveland-Cliffs had $0.10 in cash or cash equivalents on hand to cover those obligations. This suggests that the company may have a relatively tight liquidity position in the most recent quarter.
Overall, Cleveland-Cliffs Inc's cash ratio has shown some volatility, which could be an indication of changing liquidity levels and the company's ability to cover short-term obligations with its available cash resources. It would be important for the company to closely monitor its cash position and manage its liquidity effectively to ensure it can meet its short-term financial commitments.
Peer comparison
Dec 31, 2023