Kelly Services A Inc (KELYA)

Current ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total current assets	US$ in thousands	1,626,600	1,715,200	1,588,700	1,549,600	1,405,700
Total current liabilities	US$ in thousands	1,019,900	1,128,800	1,095,200	925,600	884,100
Current ratio		1.59	1.52	1.45	1.67	1.59

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $1,626,600K ÷ $1,019,900K
= 1.59

The current ratio of Kelly Services, Inc. has fluctuated over the past five years, ranging from 1.45 to 1.67. The current ratio measures the company's ability to cover its short-term liabilities with its current assets. A current ratio above 1 indicates that Kelly Services, Inc. has more current assets than current liabilities, suggesting a strong liquidity position.

In 2023, the current ratio of 1.59 is higher when compared to 2022 (1.52) and 2019 (1.59), indicating an improvement in the company's short-term liquidity position. However, when compared to 2021 (1.67), the current ratio decreased in 2023. A current ratio of 1.59 in 2023 suggests that Kelly Services, Inc. has $1.59 in current assets for every $1 of current liabilities.

Overall, while the current ratio of Kelly Services, Inc. has shown some variability, it remains above the 1 threshold in each year, indicating that the company has sufficient current assets to cover its short-term obligations.