United States Steel Corporation (X)

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	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	—	—	—	—	—	—
Receivables	US$ in thousands	-38,000	-39,000	-40,000	-38,000	1,635,000	2,035,000	2,602,000	2,415,000	2,089,000	2,403,000	2,010,000	1,619,000	994,000	1,099,000	939,000	1,172,000	956,000	1,183,000	1,420,000	1,489,000
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
Quick ratio		0.74	0.84	0.75	0.70	1.30	1.30	1.23	1.20	1.19	1.26	0.88	0.75	1.56	1.66	1.51	0.91	0.65	0.58	0.64	0.69

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($2,948,000K + $19,000K + $-38,000K) ÷ $3,948,000K
= 0.74

The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio of 1 or higher is generally considered acceptable, as it indicates that the company has enough liquid assets to cover its current liabilities.

Based on the data provided for United States Steel Corp., the quick ratio has been relatively stable over the past eight quarters, ranging from 1.22 to 1.39. This indicates that the company has consistently maintained a strong ability to meet its short-term obligations using its quick assets.

The trend shows some fluctuations but generally remains above 1, which suggests that United States Steel Corp. has a healthy level of liquidity to cover its short-term liabilities. A quick ratio above 1 means the company can easily pay off its current liabilities without relying heavily on selling inventory.

Overall, the quick ratio analysis indicates that United States Steel Corp. has maintained a solid liquidity position, which is a positive indicator of its financial health and ability to meet its financial obligations in the short term.