Kirby Corporation (KEX)

Cash ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cash and cash equivalents	US$ in thousands	74,444	67,073	53,540	75,216	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	322,571
Short-term investments	US$ in thousands	—	—	150,432	65,154	—	—	—	—	—	—	—	—	—	—	—	—	2,689	—	—	—
Total current liabilities	US$ in thousands	734,753	697,978	684,623	650,394	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
Cash ratio		0.10	0.10	0.30	0.22	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	0.65

December 31, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($74,444K + $—K) ÷ $734,753K
= 0.10

The cash ratio of Kirby Corporation has varied over the years based on the provided data. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents.

From March 31, 2020, to June 30, 2024, the cash ratio fluctuated between 0.04 and 0.30. A higher cash ratio indicates that the company has more cash on hand to cover its short-term obligations, while a lower ratio suggests potential liquidity issues.

The lowest cash ratio was observed on March 31, 2024, and December 31, 2022, both at 0.04, indicating a relatively low level of cash compared to its short-term liabilities during those periods. On the other hand, the highest cash ratio was recorded on June 30, 2024, at 0.30, suggesting improved liquidity.

Overall, Kirby Corporation's cash ratio trended downwards towards the end of the period, dropping from a peak of 0.30 on June 30, 2024, to 0.10 on December 31, 2024. This downward trend may warrant further investigation into the company's cash management practices and overall liquidity position.