Kelly Services A Inc (KELYA)

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	125,800	117,200	124,800	111,700	153,700	122,400	133,900	230,300	112,700	43,500	64,400	239,400	223,000	248,200	216,200	48,300	25,800	22,800	37,200	30,900
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	264,300	—	—	—	164,200	145,800	127,200	96,800	173,200	174,900	213,700	147,200
Receivables	US$ in thousands	1,160,600	1,388,200	1,423,600	—	1,491,600	—	—	—	1,423,200	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	1,019,900	1,025,300	1,054,900	1,050,900	1,128,800	1,143,000	1,161,000	1,196,300	1,095,200	1,078,000	1,053,900	962,900	925,600	796,500	791,400	842,800	884,100	900,000	931,100	973,400
Quick ratio		1.26	1.47	1.47	0.11	1.46	0.11	0.12	0.19	1.64	0.04	0.06	0.25	0.42	0.49	0.43	0.17	0.23	0.22	0.27	0.18

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 shown relatively consistent values over the past eight quarters, ranging from 1.47 to 1.55. This indicates that the company has maintained a sufficient level of liquid assets to cover its current liabilities in the short term. A quick ratio above 1.0 generally suggests that the company is able to meet its short-term obligations using its most liquid assets.

The trend of the quick ratio hovering around 1.50 indicates that Kelly Services, Inc. has a stable liquidity position, providing some confidence in its ability to meet its current liabilities. However, an investor or analyst may still want to consider other factors along with the quick ratio to get a more holistic view of the company's financial health.