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