Olympic Steel Inc (ZEUS)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 191,149 | 227,847 | 227,992 | 236,844 | 219,789 | 279,344 | 320,917 | 319,536 | 284,570 | 303,236 | 264,451 | 210,695 | 151,601 | 148,555 | 129,618 | 165,782 | 133,572 | 168,037 | 185,048 | 204,448 |
| 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 |
| Quick ratio | 1.13 | 1.30 | 1.37 | 1.36 | 1.41 | 1.26 | 1.35 | 1.49 | 1.31 | 1.39 | 1.28 | 1.26 | 1.24 | 1.59 | 1.45 | 1.55 | 1.38 | 1.50 | 1.86 | 1.62 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($13,224K
+ $—K
+ $191,149K)
÷ $180,237K
= 1.13
The quick ratio of Olympic Steel Inc. has shown some fluctuations over the past eight quarters, ranging from a low of 1.20 in Q4 2023 to a high of 1.54 in Q1 2022. Generally, a quick ratio above 1 indicates that the company has an adequate level of liquid assets to cover its short-term liabilities.
The downward trend in the quick ratio from Q1 2022 to Q4 2023 may suggest a decrease in the company's ability to meet its short-term obligations with its most liquid assets. However, it is important to note that the quick ratio has mostly been above 1, which is a positive sign for the company's liquidity position.
Further analysis, such as comparing the quick ratio to industry benchmarks or evaluating trends in current assets and current liabilities, would provide additional insight into Olympic Steel Inc.'s liquidity and financial health.
Peer comparison
Dec 31, 2023