Kirby Corporation (KEX)
Working capital turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,265,880 | 3,091,640 | 2,784,750 | 2,246,660 | 2,171,410 |
| Total current assets | US$ in thousands | 67,073 | 1,135,160 | 1,211,760 | 1,003,860 | 1,047,970 |
| Total current liabilities | US$ in thousands | 734,753 | 675,795 | 642,197 | 543,772 | 466,032 |
| Working capital turnover | — | 6.73 | 4.89 | 4.88 | 3.73 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $3,265,880K ÷ ($67,073K – $734,753K)
= —
Working capital turnover measures how efficiently a company is utilizing its working capital to generate sales. Based on the data provided for Kirby Corporation:
- In December 31, 2020, the working capital turnover was 3.73, indicating that Kirby generated $3.73 in sales for every dollar of working capital invested.
- The ratio improved steadily over the next few years, reaching 4.88 in December 31, 2021 and staying relatively stable at 4.89 in December 31, 2022.
- The efficiency further improved significantly in December 31, 2023, with a working capital turnover of 6.73, suggesting that Kirby was able to generate $6.73 in sales per dollar of working capital invested.
- However, there is missing data for December 31, 2024, making it difficult to assess the trend for that year.
Overall, the trend indicates that Kirby Corporation has been utilizing its working capital more efficiently over the years, with a notable improvement in 2023. This could suggest effective management of working capital resources to drive sales growth.
Peer comparison
Dec 31, 2024