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.


Peer comparison

Dec 31, 2023