Olympic Steel Inc (ZEUS)
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 | 13,224 | 9,091 | 15,170 | 18,413 | 12,189 | 10,232 | 8,446 | 8,009 | 9,812 | 15,143 | 11,636 | 8,309 | 5,533 | 5,144 | 7,105 | 5,284 | 5,742 | 8,488 | 6,373 | 5,113 |
| Short-term investments | US$ in thousands | — | 5,407 | 1,142 | 1,343 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 180,237 | 186,372 | 178,792 | 188,005 | 164,702 | 230,717 | 244,599 | 219,983 | 224,336 | 229,434 | 216,370 | 173,412 | 126,725 | 96,504 | 94,445 | 110,243 | 101,087 | 117,628 | 103,121 | 129,705 |
| Cash ratio | 0.07 | 0.08 | 0.09 | 0.11 | 0.07 | 0.04 | 0.03 | 0.04 | 0.04 | 0.07 | 0.05 | 0.05 | 0.04 | 0.05 | 0.08 | 0.05 | 0.06 | 0.07 | 0.06 | 0.04 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($13,224K
+ $—K)
÷ $180,237K
= 0.07
The cash ratio for Olympic Steel Inc. has shown some fluctuations over the past eight quarters. In the most recent quarter, Q4 2023, the cash ratio stood at 0.14, indicating that the company had $0.14 of cash and cash equivalents for every $1 of current liabilities. This was an improvement compared to the previous quarter's ratio of 0.12.
Looking further back, the cash ratio ranged from 0.13 to 0.15 in the first three quarters of 2023, showing a relatively stable liquidity position during that period. Comparing to the same quarter in the previous year (Q4 2022), the cash ratio has also improved from 0.13 to 0.14.
It is worth noting that the cash ratio for Olympic Steel Inc. was relatively low in the earlier quarters of 2022, ranging from 0.08 to 0.09. However, there has been a clear upward trend in the ratios throughout 2023, indicating an improvement in the company's ability to cover short-term obligations with its available cash resources.
Overall, the upward trend in the cash ratio of Olympic Steel Inc. over the past year suggests that the company has been enhancing its liquidity position, which is a positive signal for its financial health and ability to meet its short-term obligations.
Peer comparison
Dec 31, 2023