Cleveland-Cliffs Inc (CLF)
Current ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 6,907,000 | 6,636,000 | 7,422,000 | 7,653,000 | 5,298,000 |
| Total current liabilities | US$ in thousands | 3,322,000 | 3,508,000 | 3,549,000 | 3,561,000 | 2,929,000 |
| Current ratio | 2.08 | 1.89 | 2.09 | 2.15 | 1.81 |
December 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $6,907,000K ÷ $3,322,000K
= 2.08
The current ratio of Cleveland-Cliffs Inc has shown a generally positive trend over the past five years.
As of December 31, 2020, the current ratio was 1.81, indicating that the company had $1.81 in current assets for every dollar of current liabilities. This ratio improved to 2.15 by December 31, 2021, and remained relatively strong at 2.09 on December 31, 2022.
However, there was a slight decrease in the current ratio to 1.89 by December 31, 2023. This could suggest a potential strain in meeting short-term obligations with available current assets.
Nonetheless, by December 31, 2024, the current ratio improved again to 2.08, indicating a better ability to cover current liabilities with current assets.
Overall, the current ratio of Cleveland-Cliffs Inc has been fluctuating within a decent range over the years, with some periods of improvement and slight declines. It is essential for the company to ensure a healthy current ratio to effectively manage its short-term financial obligations.
Peer comparison
Dec 31, 2024