Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
United States Steel Corp., liquidity ratios
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Current ratio | 1.99 | 1.86 | 1.67 | 1.45 | 1.51 | |
| Quick ratio | 1.30 | 1.20 | 1.12 | 0.73 | 0.83 | |
| Cash ratio | 0.89 | 0.65 | 0.75 | 0.29 | 0.31 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | United States Steel Corp. current ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | United States Steel Corp. quick ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | United States Steel Corp. cash ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Current Ratio
United States Steel Corp., current ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 7,866) | 7,152) | 4,432) | 3,813) | 4,830) | |
| Current liabilities | 3,959) | 3,852) | 2,656) | 2,625) | 3,197) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 1.99 | 1.86 | 1.67 | 1.45 | 1.51 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| Freeport-McMoRan Inc. | 2.46 | 2.52 | 2.72 | 2.47 | — | |
| Current Ratio, Industry | ||||||
| Materials | 1.20 | 1.19 | 1.14 | — | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Current ratio = Current assets ÷ Current liabilities
= 7,866 ÷ 3,959 = 1.99
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | United States Steel Corp. current ratio improved from 2020 to 2021 and from 2021 to 2022. |
Quick Ratio
United States Steel Corp., quick ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 3,504) | 2,522) | 1,985) | 749) | 1,000) | |
| Receivables, less allowance | 1,485) | 1,968) | 914) | 956) | 1,435) | |
| Receivables from related parties | 150) | 121) | 80) | 221) | 224) | |
| Total quick assets | 5,139) | 4,611) | 2,979) | 1,926) | 2,659) | |
| Current liabilities | 3,959) | 3,852) | 2,656) | 2,625) | 3,197) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 1.30 | 1.20 | 1.12 | 0.73 | 0.83 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| Freeport-McMoRan Inc. | 1.58 | 1.66 | 1.48 | 0.99 | — | |
| Quick Ratio, Industry | ||||||
| Materials | 0.80 | 0.78 | 0.71 | — | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 5,139 ÷ 3,959 = 1.30
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | United States Steel Corp. quick ratio improved from 2020 to 2021 and from 2021 to 2022. |
Cash Ratio
United States Steel Corp., cash ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 3,504) | 2,522) | 1,985) | 749) | 1,000) | |
| Total cash assets | 3,504) | 2,522) | 1,985) | 749) | 1,000) | |
| Current liabilities | 3,959) | 3,852) | 2,656) | 2,625) | 3,197) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.89 | 0.65 | 0.75 | 0.29 | 0.31 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| Freeport-McMoRan Inc. | 1.30 | 1.37 | 1.07 | 0.63 | — | |
| Cash Ratio, Industry | ||||||
| Materials | 0.48 | 0.44 | 0.35 | — | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 3,504 ÷ 3,959 = 0.89
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | United States Steel Corp. cash ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |