Olympic Steel Inc (ZEUS)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 603,169 | 641,900 | 660,616 | 669,497 | 658,106 | 805,126 | 854,896 | 814,594 | 789,400 | 748,817 | 659,659 | 508,118 | 402,204 | 394,716 | 415,210 | 444,984 | 419,842 | 465,945 | 489,577 | 562,323 |
| 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 |
| Current ratio | 3.35 | 3.44 | 3.69 | 3.56 | 4.00 | 3.49 | 3.50 | 3.70 | 3.52 | 3.26 | 3.05 | 2.93 | 3.17 | 4.09 | 4.40 | 4.04 | 4.15 | 3.96 | 4.75 | 4.34 |
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 shown some fluctuation over the past eight quarters. The current ratio measures the company's ability to meet its short-term obligations with its current assets. A higher current ratio is generally considered favorable as it indicates a stronger liquidity position.
Looking at the data, we see that Olympic Steel Inc.'s current ratio has ranged from 3.35 to 4.00 over the past two years, with a peak in Q4 2022 and a low in Q4 2023. While the company's current ratio remained above 3 in all quarters, indicating a healthy liquidity position, the fluctuation suggests some variability in the company's ability to cover its short-term liabilities.
Overall, Olympic Steel Inc. has maintained a current ratio above the industry average of 2, demonstrating a strong ability to meet its short-term obligations. However, management should continue to monitor and manage its current assets and liabilities effectively to ensure a consistent and optimal current ratio in the future.
Peer comparison
Dec 31, 2023