Kellanova (K)
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 | 274,000 | 1,099,000 | 308,000 | 347,000 | 299,000 | 373,000 | 323,000 | 313,000 | 286,000 | 440,000 | 395,000 | 391,000 | 435,000 | 1,329,000 | 1,047,000 | 1,016,000 | 397,000 | 453,000 | 340,000 | 272,000 |
| Short-term investments | US$ in thousands | — | 32,000 | 9,000 | 9,000 | 49,000 | 2,000 | 57,000 | — | — | 423,000 | 394,000 | 397,000 | 391,000 | 250,000 | 200,000 | — | 0 | — | — | — |
| Receivables | US$ in thousands | 1,568,000 | 1,876,000 | 1,930,000 | — | 1,736,000 | — | — | — | 1,489,000 | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 5,060,000 | 6,524,000 | 6,476,000 | 6,001,000 | 6,349,000 | 6,033,000 | 6,051,000 | 5,848,000 | 5,315,000 | 5,029,000 | 4,946,000 | 5,385,000 | 5,238,000 | 6,034,000 | 5,856,000 | 5,595,000 | 4,778,000 | 4,389,000 | 4,989,000 | 4,978,000 |
| Quick ratio | 0.36 | 0.46 | 0.35 | 0.06 | 0.33 | 0.06 | 0.06 | 0.05 | 0.33 | 0.17 | 0.16 | 0.15 | 0.16 | 0.26 | 0.21 | 0.18 | 0.08 | 0.10 | 0.07 | 0.05 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($274,000K
+ $—K
+ $1,568,000K)
÷ $5,060,000K
= 0.36
The quick ratio of Kellanova has fluctuated over the past few quarters, ranging from as low as 0.05 to as high as 0.46. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term liabilities.
The quick ratio was relatively low in the first quarter of 2023 at 0.06, suggesting that Kellanova may have had challenges in meeting its short-term obligations with its liquid assets during that period. However, the quick ratio improved in the following quarters, reaching 0.46 in September 2023, which indicates a stronger liquidity position.
It is important to further analyze the components of the quick ratio, such as cash, marketable securities, and accounts receivable, to understand the changes in liquidity for Kellanova. Additionally, comparing the quick ratio to industry benchmarks or historical trends can provide more insights into the company's liquidity position and financial health.
Peer comparison
Dec 31, 2023