United States Steel Corporation (X)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 6,943,000 | 7,866,000 | 7,152,000 | 4,432,000 | 3,813,000 |
| Total current liabilities | US$ in thousands | 3,948,000 | 3,959,000 | 3,852,000 | 2,656,000 | 2,625,000 |
| Current ratio | 1.76 | 1.99 | 1.86 | 1.67 | 1.45 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $6,943,000K ÷ $3,948,000K
= 1.76
The current ratio of United States Steel Corp. has shown a fluctuating trend over the past five years. The ratio was 1.45 in 2019, indicating a lower liquidity position, which improved to 1.67 in 2020. Subsequently, there was a further increase to 1.86 in 2021, reflecting a better ability to meet short-term obligations. However, in 2022, the ratio increased significantly to 1.99, suggesting the company had even higher current assets relative to current liabilities.
The current ratio decreased slightly to 1.76 in 2023, still indicating a healthy liquidity position, but not as high as the previous year. Overall, the company has maintained a current ratio above 1 for the past five years, which implies that it has sufficient current assets to cover its current liabilities. However, monitoring this ratio in conjunction with other liquidity and financial health metrics would provide a more comprehensive understanding of United States Steel Corp.'s financial stability.
Peer comparison
Dec 31, 2023