United States Steel Corporation (X)

Cash ratio

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cash and cash equivalents US$ in thousands 2,948,000 3,504,000 2,522,000 1,985,000 749,000
Short-term investments US$ in thousands 19,000 -34,000 1,177,000
Total current liabilities US$ in thousands 3,948,000 3,959,000 3,852,000 2,656,000 2,625,000
Cash ratio 0.75 0.89 0.65 1.19 0.29

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($2,948,000K + $19,000K) ÷ $3,948,000K
= 0.75

The cash ratio of United States Steel Corp. has shown fluctuations over the past five years. In 2023, the cash ratio stood at 0.83, indicating that the company had $0.83 in cash and cash equivalents for every dollar of current liabilities. This was a decrease from the previous year's ratio of 0.98.

Comparing to historical trends, the cash ratio has generally been below 1, suggesting that the company may not have sufficient liquid assets to cover its short-term obligations. However, the ratio has shown some improvement compared to 2019 when it was at a low of 0.32.

Overall, the downward trend in the cash ratio from 2022 to 2023 may indicate that United States Steel Corp. could be facing challenges in managing its liquidity position, and further analysis of its cash management practices and working capital management may be warranted.


Peer comparison

Dec 31, 2023


See also:

United States Steel Corporation Cash Ratio