Nucor Corp (NUE)

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	6,383,300	5,855,950	4,510,560	3,800,030	4,280,850	3,049,860	2,002,710	3,725,270	2,364,860	1,764,290	2,722,660	2,460,720	2,639,670	2,866,580	2,789,190	1,245,160	1,534,600	1,686,360	1,431,790	1,550,810
Short-term investments	US$ in thousands	747,479	863,140	870,475	817,811	576,946	377,426	363,287	446,868	253,005	247,247	398,409	402,595	408,004	412,401	247,473	146,000	300,040	249,616	50,000	50,000
Receivables	US$ in thousands	2,953,310	3,427,700	3,874,930	—	3,591,030	—	—	—	3,853,970	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	4,594,510	4,283,850	4,004,170	3,829,940	4,329,740	4,632,090	5,359,200	5,133,840	5,157,410	4,797,600	3,879,950	2,970,450	2,627,860	2,373,300	1,965,040	2,218,570	2,463,770	2,585,990	2,380,410	2,568,020
Quick ratio		2.19	2.37	2.31	1.21	1.95	0.74	0.44	0.81	1.25	0.42	0.80	0.96	1.16	1.38	1.55	0.63	0.74	0.75	0.62	0.62

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($6,383,300K + $747,479K + $2,953,310K) ÷ $4,594,510K
= 2.19

The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. A higher quick ratio indicates a stronger liquidity position.

Looking at the data for Nucor Corp., we observe an increasing trend in the quick ratio over the past eight quarters. In Q4 2023, the quick ratio is 2.35, which means the company has $2.35 in liquid assets for every $1 of current liabilities. This represents an improvement from the previous quarter, Q3 2023, where the quick ratio was 2.50.

The company's quick ratio has generally been above 1, indicating that Nucor has a comfortable cushion to cover its short-term obligations without having to rely heavily on selling inventory. The upward trend in the quick ratio suggests that Nucor's liquidity position has been strengthening over time.

It is important to note that a quick ratio of 2.35 in Q4 2023 reflects a healthy liquidity position for Nucor Corp., providing a favorable indication of the company's ability to meet its short-term financial obligations.