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.