Kirby Corporation (KEX)

Cash 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 and cash equivalents	US$ in thousands	32,577	42,116	36,603	26,699	80,577	36,991	25,104	32,398	34,813	54,377	53,052	52,333	80,338	119,586	108,471	323	24,737	9,425	22,521	7,289
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	2,689	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	675,795	635,852	656,297	614,788	642,197	570,561	541,372	513,835	543,772	512,197	498,222	453,443	466,032	450,065	478,696	496,332	514,115	516,991	526,033	582,724
Cash ratio		0.05	0.07	0.06	0.04	0.13	0.06	0.05	0.06	0.06	0.11	0.11	0.12	0.18	0.27	0.23	0.00	0.05	0.02	0.04	0.01

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($32,577K + $—K) ÷ $675,795K
= 0.05

The cash ratio of Kirby Corp. has fluctuated over the past eight quarters. The ratio measures the company's ability to cover its short-term liabilities with its available cash and cash equivalents.

In Q4 2023, the cash ratio was 0.15, indicating that Kirby Corp. had $0.15 in cash and cash equivalents for every $1 of current liabilities. This was a decrease from the previous quarter, where the ratio was 0.19.

Throughout the past two years, the company's cash ratio has generally ranged between 0.14 and 0.24, with Q2 2022 showing the highest ratio of 0.24. This indicates that Kirby Corp. has maintained a relatively healthy level of liquidity to cover its short-term obligations.

It is essential for investors and stakeholders to monitor the cash ratio trends to assess the company's ability to meet its immediate financial obligations without relying on external financing. fluctuations in the cash ratio may reflect changes in the company's operating performance and financial management strategies.