Kirby Corporation (KEX)

Receivables turnover

		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
Revenue (ttm)	US$ in thousands	3,047,864	2,978,815	2,959,644	2,883,549	2,748,750	2,612,051	2,466,984	2,328,190	2,210,984	2,118,857	2,025,957	2,015,773	2,171,408	2,337,579	2,507,821	2,737,704	2,838,399	2,903,965	2,942,001	2,973,630
Receivables	US$ in thousands	662,991	514,631	519,741	526,489	622,906	482,744	445,425	420,823	417,958	460,538	422,900	417,803	315,283	304,021	348,453	389,616	379,174	382,465	450,958	439,975
Receivables turnover		4.60	5.79	5.69	5.48	4.41	5.41	5.54	5.53	5.29	4.60	4.79	4.82	6.89	7.69	7.20	7.03	7.49	7.59	6.52	6.76

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,047,864K ÷ $662,991K
= 4.60

To analyze Kirby Corp.'s receivables turnover, we evaluate the trend over the past eight quarters.

The receivables turnover ratio measures how efficiently a company is collecting its accounts receivables during a specific period. A higher turnover ratio indicates that the company is collecting its receivables more quickly.

Looking at the data, we can see that Kirby Corp.'s receivables turnover has shown some fluctuation over the past eight quarters. In Q4 2023, the receivables turnover ratio was 5.34, which was slightly higher compared to the previous quarter's 5.32.

In general, Kirby Corp. has maintained a relatively stable and healthy receivables turnover ratio above 4. This indicates that the company is efficient in collecting payments from its customers, with a trend towards improvement in recent quarters.

Overall, a consistent and increasing trend in the receivables turnover ratio demonstrates effective management of accounts receivables and a healthy liquidity position for Kirby Corp.