Olympic Steel Inc (ZEUS)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 603,169 | 658,106 | 789,400 | 402,204 | 419,842 |
| Total current liabilities | US$ in thousands | 180,237 | 164,702 | 224,336 | 126,725 | 101,087 |
| Current ratio | 3.35 | 4.00 | 3.52 | 3.17 | 4.15 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $603,169K ÷ $180,237K
= 3.35
The current ratio of Olympic Steel Inc. has exhibited fluctuations over the past five years. The ratio was 4.15 in 2019, showing a strong liquidity position, which decreased to 3.17 in 2020, indicating a slight decline in short-term liquidity. In 2021, the current ratio improved to 3.52, suggesting an enhancement in the company's ability to cover its short-term obligations. By 2022, the current ratio rose significantly to 4.00, pointing towards a strengthened liquidity position. However, in 2023, the current ratio decreased to 3.35, reflecting a decline in the company's ability to meet its short-term liabilities. Overall, although the current ratio has varied, Olympic Steel Inc. maintained a relatively healthy liquidity position during these years, with the ratio mostly above 3, indicating the company's ability to cover its short-term obligations with current assets.
Peer comparison
Dec 31, 2023