Nucor Corp (NUE)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 16,385,900 | 14,691,700 | 12,799,600 | 9,488,660 | 8,226,370 |
| Total current liabilities | US$ in thousands | 4,594,510 | 4,329,740 | 5,157,410 | 2,627,860 | 2,463,770 |
| Current ratio | 3.57 | 3.39 | 2.48 | 3.61 | 3.34 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $16,385,900K ÷ $4,594,510K
= 3.57
The current ratio of Nucor Corp. has shown varying trends over the past five years. In 2023, the current ratio improved to 3.57 from 3.39 in 2022. This indicates that Nucor Corp. had $3.57 in current assets for every $1 in current liabilities as of December 31, 2023.
Comparing this to previous years, the company's liquidity position weakened in 2021 with a current ratio of 2.48 but then improved in 2022 and 2023. The peak current ratio was observed in 2020 at 3.61. Overall, Nucor Corp. has maintained a relatively strong liquidity position over the years, though there have been fluctuations.
A current ratio above 1 is typically seen as favorable as it suggests that a company has more current assets to cover its current liabilities. Nucor Corp.'s current ratios above 3 demonstrate a healthy liquidity position, indicating the company's ability to meet its short-term obligations efficiently.
Peer comparison
Dec 31, 2023