Kirby Corporation (KEX)
Cash ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 74,444 | 32,577 | 80,577 | 34,813 | 80,338 |
| Short-term investments | US$ in thousands | -7,371 | — | — | — | 2,689 |
| Total current liabilities | US$ in thousands | 734,753 | 675,795 | 642,197 | 543,772 | 466,032 |
| Cash ratio | 0.09 | 0.05 | 0.13 | 0.06 | 0.18 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($74,444K
+ $-7,371K)
÷ $734,753K
= 0.09
The cash ratio of Kirby Corporation has shown fluctuations over the past five years. In December 31, 2020, the company had a cash ratio of 0.18, indicating that it had $0.18 in cash and cash equivalents for every $1 of current liabilities. However, this ratio decreased to 0.06 by December 31, 2021, suggesting a significant decline in the company's liquidity position.
Subsequently, by December 31, 2022, the cash ratio improved to 0.13, showcasing a recovery in Kirby Corporation's ability to meet its short-term obligations with cash on hand. However, by December 31, 2023, the ratio dropped to 0.05, indicating a lower level of liquidity compared to the previous year.
Lastly, as of December 31, 2024, the cash ratio increased slightly to 0.09, reflecting a marginal improvement in the company's cash position relative to its current liabilities. Overall, the fluctuating nature of Kirby Corporation's cash ratio over the years highlights the importance of closely monitoring the company's liquidity position for potential financial stability.
Peer comparison
Dec 31, 2024