United States Steel Corporation (X)
Cash 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 and cash equivalents | US$ in thousands | 2,948,000 | 3,222,000 | 3,080,000 | 2,837,000 | 3,504,000 | 3,364,000 | 3,035,000 | 2,866,000 | 2,522,000 | 2,044,000 | 1,329,000 | 753,000 | 1,985,000 | 1,696,000 | 2,300,000 | 1,350,000 | 749,000 | 476,000 | 651,000 | 676,000 |
| Short-term investments | US$ in thousands | 19,000 | — | — | — | — | — | — | — | -34,000 | 628,000 | 572,000 | — | 1,177,000 | 1,286,000 | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 3,948,000 | 3,801,000 | 4,072,000 | 4,015,000 | 3,959,000 | 4,162,000 | 4,568,000 | 4,405,000 | 3,852,000 | 4,030,000 | 4,451,000 | 3,144,000 | 2,656,000 | 2,463,000 | 2,141,000 | 2,777,000 | 2,625,000 | 2,850,000 | 3,223,000 | 3,140,000 |
| Cash ratio | 0.75 | 0.85 | 0.76 | 0.71 | 0.89 | 0.81 | 0.66 | 0.65 | 0.65 | 0.66 | 0.43 | 0.24 | 1.19 | 1.21 | 1.07 | 0.49 | 0.29 | 0.17 | 0.20 | 0.22 |
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 ranged between 0.75 and 0.98 over the past eight quarters. The cash ratio measures the company's ability to cover its short-term liabilities with cash and cash equivalents. A higher cash ratio indicates a stronger liquidity position, suggesting the company has sufficient liquid assets to meet its short-term obligations.
In Q4 2023, the cash ratio decreased to 0.83 from the previous quarter's 0.93. This decline may signal a slight reduction in the company's ability to cover its short-term liabilities with cash alone. However, the ratio remains relatively healthy compared to historical levels.
Overall, United States Steel Corp. has maintained a stable cash ratio above 0.75, which indicates that the company has a reasonable level of liquidity to meet its short-term financial obligations. Investors and analysts may continue to monitor changes in the cash ratio to assess the company's liquidity position in the future.
Peer comparison
Dec 31, 2023