Cleveland-Cliffs Inc (CLF)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 6,636,000 | 6,941,000 | 7,165,000 | 7,444,000 | 7,422,000 | 8,325,000 | 8,768,000 | 8,559,000 | 7,653,000 | 7,146,000 | 6,574,000 | 5,861,000 | 5,298,000 | 2,628,800 | 2,642,300 | 3,065,600 | 898,000 | 1,064,600 | 1,119,400 | 1,126,000 |
| 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 |
| Current ratio | 1.89 | 2.11 | 2.10 | 2.15 | 2.09 | 2.33 | 2.20 | 2.28 | 2.15 | 2.18 | 2.20 | 2.00 | 1.81 | 2.17 | 2.55 | 2.24 | 2.20 | 2.32 | 2.56 | 2.86 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $6,636,000K ÷ $3,508,000K
= 1.89
Cleveland-Cliffs Inc's current ratio has been fluctuating over the past eight quarters, ranging from a low of 1.89 in Q4 2023 to a high of 2.33 in Q3 2022. The current ratio measures the company's ability to cover its short-term liabilities with its current assets. A current ratio above 1 indicates that the company has more current assets than current liabilities, which is generally a positive sign.
The trend in Cleveland-Cliffs Inc's current ratio shows some variability, with occasional decreases followed by increases. The company's current ratio reached its peak at 2.33 in Q3 2022, indicating a strong ability to meet its short-term obligations. However, the current ratio declined in subsequent quarters but remained above 2, indicating continued stability in the company's ability to cover its short-term liabilities.
It is important to monitor the current ratio over time to ensure that the company maintains a healthy liquidity position. While fluctuations in the current ratio are normal, sustained increases or decreases could indicate underlying issues that require attention. Overall, based on the data provided, Cleveland-Cliffs Inc has generally maintained a strong current ratio, suggesting a sound liquidity position.
Peer comparison
Dec 31, 2023