Kirby Corporation (KEX)
Days of sales outstanding (DSO)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Receivables turnover | 4.60 | 4.41 | 5.29 | 6.89 | 7.49 | |
| DSO | days | 79.40 | 82.71 | 69.00 | 53.00 | 48.76 |
December 31, 2023 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ 4.60
= 79.40
The Days Sales Outstanding (DSO) metric for Kirby Corp. has fluctuated over the past five years. In 2023, the DSO stands at 68.32 days, showing an improvement compared to 2022 when it was higher at 78.38 days. This indicates that Kirby Corp. collected its outstanding receivables more efficiently in 2023.
Looking back further, the DSO was higher in 2021 at 92.27 days and peaked in 2020 at 100.89 days before decreasing in 2019 to 62.16 days. The upward trend from 2020 to 2021 suggests that Kirby Corp. faced challenges in collecting receivables promptly during that period.
Overall, while the DSO has shown variability in recent years, the recent improvement in 2023 is a positive sign of better receivables management. However, it may be beneficial for Kirby Corp. to continue monitoring and optimizing its collections processes to maintain efficiency and streamline cash flows.
Peer comparison
Dec 31, 2023