Kelly Services A Inc (KELYA)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	125,800	153,700	112,700	223,000	25,800
Short-term investments	US$ in thousands	—	—	264,300	164,200	173,200
Receivables	US$ in thousands	1,160,600	1,491,600	1,423,200	1,265,200	1,282,200
Total current liabilities	US$ in thousands	1,019,900	1,128,800	1,095,200	925,600	884,100
Quick ratio		1.26	1.46	1.64	1.79	1.68

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($125,800K + $—K + $1,160,600K) ÷ $1,019,900K
= 1.26

The quick ratio of Kelly Services, Inc. has exhibited some fluctuations over the past five years. The trend shows a gradual decrease from 1.67 in January 2021 to 1.31 in December 2023. Despite the fluctuations, the quick ratio has generally remained above 1, indicating that the company has had an acceptable level of short-term liquidity to cover its immediate liabilities with its most liquid assets. This suggests that Kelly Services, Inc. has been able to meet its short-term obligations effectively over the years, although the slight decrease in the quick ratio may warrant further monitoring to ensure continued liquidity management.