Current Ratio
since 2005
Calculation
United States Steel Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 1.99 | = | 7,866) | ÷ | 3,959) |
| Dec 31, 2021 | 1.86 | = | 7,152) | ÷ | 3,852) |
| Dec 31, 2020 | 1.67 | = | 4,432) | ÷ | 2,656) |
| Dec 31, 2019 | 1.45 | = | 3,813) | ÷ | 2,625) |
| Dec 31, 2018 | 1.51 | = | 4,830) | ÷ | 3,197) |
| Dec 31, 2017 | 1.75 | = | 4,755) | ÷ | 2,721) |
| Dec 31, 2016 | 1.87 | = | 4,356) | ÷ | 2,331) |
| Dec 31, 2015 | 1.82 | = | 3,917) | ÷ | 2,148) |
| Dec 31, 2014 | 1.80 | = | 6,431) | ÷ | 3,569) |
| Dec 31, 2013 | 1.87 | = | 6,078) | ÷ | 3,245) |
| Dec 31, 2012 | 1.80 | = | 5,374) | ÷ | 2,990) |
| Dec 31, 2011 | 1.58 | = | 5,774) | ÷ | 3,649) |
| Dec 31, 2010 | 1.69 | = | 5,304) | ÷ | 3,147) |
| Dec 31, 2009 | 2.03 | = | 5,015) | ÷ | 2,474) |
| Dec 31, 2008 | 2.06 | = | 5,732) | ÷ | 2,778) |
| Dec 31, 2007 | 1.65 | = | 4,959) | ÷ | 3,003) |
| Dec 31, 2006 | 1.92 | = | 5,196) | ÷ | 2,702) |
| Dec 31, 2005 | 1.76 | = | 4,831) | ÷ | 2,749) |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The liquidity position of United States Steel Corp. from 2005 to 2022 exhibits sustained stability, characterized by a current ratio that consistently remained above 1.40. This indicates a persistent capacity to cover short-term obligations with current assets throughout the observed eighteen-year period.
- Current Ratio Trends
- The current ratio reached a peak of 2.06 in 2008, followed by a period of moderate fluctuation. A downward trend was observed between 2017 and 2019, with the ratio hitting a period low of 1.45 in 2019. Subsequently, a strong recovery occurred, with the ratio increasing to 1.67 in 2020, 1.86 in 2021, and finishing at 1.99 in 2022.
- Current Asset Dynamics
- Current assets remained relatively stable between US$ 3.8 billion and US$ 6.4 billion for the majority of the period from 2005 to 2020. A significant expansion in liquidity is evident starting in 2021, where assets rose to US$ 7.15 billion and further increased to US$ 7.87 billion by the end of 2022, marking the highest asset levels in the analyzed timeframe.
- Current Liability Patterns
- Current liabilities demonstrated a consistent range, generally fluctuating between US$ 2.1 billion and US$ 3.6 billion. A notable contraction occurred in 2015, when liabilities dropped to US$ 2.15 billion. In the final two years of the analysis, liabilities increased to US$ 3.85 billion in 2021 and US$ 3.96 billion in 2022, paralleling the increase in assets but at a slower rate of growth.
- Liquidity Correlation
- The overall trend shows that while both assets and liabilities grew in the latter part of the period, the disproportionate increase in current assets relative to current liabilities strengthened the short-term solvency position. The return to a current ratio of 1.99 in 2022 suggests a return to the liquidity levels observed during the 2006-2009 window.
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Comparison to Competitors
United States Steel Corp., current ratio, long-term trends, comparison to competitors
| United States Steel Corp. | Freeport-McMoRan Inc. | |
|---|---|---|
| Dec 31, 2022 | 1.99 | 2.46 |
| Dec 31, 2021 | 1.86 | 2.52 |
| Dec 31, 2020 | 1.67 | 2.72 |
| Dec 31, 2019 | 1.45 | 2.47 |
| Dec 31, 2018 | 1.51 | 3.22 |
| Dec 31, 2017 | 1.75 | 2.14 |
| Dec 31, 2016 | 1.87 | 2.45 |
| Dec 31, 2015 | 1.82 | 1.73 |
| Dec 31, 2014 | 1.80 | 1.75 |
| Dec 31, 2013 | 1.87 | 2.09 |
| Dec 31, 2012 | 1.80 | 3.08 |
| Dec 31, 2011 | 1.58 | 3.42 |
| Dec 31, 2010 | 1.69 | 2.62 |
| Dec 31, 2009 | 2.03 | 2.48 |
| Dec 31, 2008 | 2.06 | 1.66 |
| Dec 31, 2007 | 1.65 | 1.53 |
| Dec 31, 2006 | 1.92 | 2.21 |
| Dec 31, 2005 | 1.76 | 1.48 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Materials)
United States Steel Corp., current ratio, long-term trends, comparison to industry (materials)
| United States Steel Corp. | Materials | |
|---|---|---|
| Dec 31, 2022 | 1.99 | 1.20 |
| Dec 31, 2021 | 1.86 | 1.19 |
| Dec 31, 2020 | 1.67 | 1.14 |
| Dec 31, 2019 | 1.45 | 1.15 |
| Dec 31, 2018 | 1.51 | 1.57 |
| Dec 31, 2017 | 1.75 | 1.50 |
| Dec 31, 2016 | 1.87 | 1.77 |
| Dec 31, 2015 | 1.82 | 1.53 |
| Dec 31, 2014 | 1.80 | 1.40 |
| Dec 31, 2013 | 1.87 | 1.61 |
| Dec 31, 2012 | 1.80 | 2.11 |
| Dec 31, 2011 | 1.58 | 1.95 |
| Dec 31, 2010 | 1.69 | 1.82 |
| Dec 31, 2009 | 2.03 | 1.84 |
| Dec 31, 2008 | 2.06 | 1.17 |
| Dec 31, 2007 | 1.65 | 1.20 |
| Dec 31, 2006 | 1.92 | 1.39 |
| Dec 31, 2005 | 1.76 | 1.23 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).