Cleveland-Cliffs Inc (CLF)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,840,000 | 2,122,000 | 2,290,000 | 2,216,000 | 1,960,000 | 2,301,000 | 2,571,000 | 2,667,000 | 2,157,000 | 2,348,000 | 2,062,000 | 1,659,000 | 1,193,000 | 662,700 | 544,800 | 622,500 | 152,600 | 223,600 | 251,800 | 137,400 |
| 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 |
| Quick ratio | 0.58 | 0.65 | 0.68 | 0.66 | 0.56 | 0.66 | 0.66 | 0.72 | 0.62 | 0.73 | 0.72 | 0.60 | 0.45 | 0.59 | 0.60 | 0.59 | 1.24 | 1.36 | 1.44 | 1.44 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($198,000K
+ $—K
+ $1,840,000K)
÷ $3,508,000K
= 0.58
The quick ratio of Cleveland-Cliffs Inc has shown some fluctuations over the past eight quarters. The quick ratio, which measures the company's ability to meet its short-term obligations with its most liquid assets, ranged from a low of 0.62 in Q4 2023 to a high of 0.80 in Q1 2022.
A decreasing trend can be observed in the quick ratio from Q1 2022 to Q4 2023, indicating a potential weakening in the company's short-term liquidity position. Despite the fluctuations, the quick ratio has generally remained above 1, which suggests that the company has sufficient liquid assets to cover its current liabilities in most of the quarters.
It is essential for investors and stakeholders to monitor the quick ratio of Cleveland-Cliffs Inc closely to ensure that the company can continue to meet its short-term obligations effectively. Further analysis and comparison with industry peers would provide more insights into the company's liquidity management and financial health.
Peer comparison
Dec 31, 2023