Metallus Inc (MTUS)

Cash ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	US$ in thousands	280,600	257,200	259,600	102,800	27,100
Short-term investments	US$ in thousands	—	—	—	—	—
Total current liabilities	US$ in thousands	248,400	186,700	250,800	181,000	112,300
Cash ratio		1.13	1.38	1.04	0.57	0.24

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($280,600K + $—K) ÷ $248,400K
= 1.13

The cash ratio of Metallus Inc has shown a fluctuating trend over the past five years. The ratio was 1.13 at the end of 2023, indicating that for every dollar of current liabilities, the company had $1.13 in cash or cash equivalents on hand to cover its short-term obligations. This was a decrease from the previous year's ratio of 1.38.

In 2022, the cash ratio was at its highest point in the given period at 1.38, suggesting a stronger liquidity position compared to other years. The ratio then decreased to 1.04 in 2021 but remained above 1, indicating the company's ability to meet its short-term obligations with its available cash reserves.

The cash ratio of 0.57 in 2020 marked a significant decrease from the previous year, signaling a potential liquidity strain. However, the ratio improved from 0.24 in 2019, which was the lowest point in the period analyzed. Overall, fluctuations in the cash ratio reflect changes in the company's cash position and its ability to cover short-term liabilities with liquid assets.