Kirby Corporation (KEX)

Current 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
Total current assets	US$ in thousands	1,135,160	1,195,570	1,168,660	1,200,370	1,211,760	1,126,380	1,052,260	1,015,330	1,003,860	978,591	963,143	958,517	1,047,970	1,060,720	1,078,310	1,368,010	917,579	958,533	1,054,260	1,118,250
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
Current ratio		1.68	1.88	1.78	1.95	1.89	1.97	1.94	1.98	1.85	1.91	1.93	2.11	2.25	2.36	2.25	2.76	1.78	1.85	2.00	1.92

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $1,135,160K ÷ $675,795K
= 1.68

The current ratio of Kirby Corp. has shown fluctuations over the past eight quarters, ranging from 1.68 to 1.98. A current ratio above 1 indicates that the company has more current assets than current liabilities, suggesting a strong liquidity position. The highest current ratio recorded was 1.98 in Q1 2022, indicating a peak level of liquidity during that period.

Although the current ratio has generally been above 1, which is seen as a positive sign, the decrease in current ratio from Q1 2023 to Q4 2023 (1.95 to 1.68) may indicate a slight reduction in liquidity or an increase in short-term liabilities relative to current assets. This trend warrants further investigation to assess the impact on Kirby Corp.'s ability to meet its short-term obligations.

Overall, while Kirby Corp. has maintained a reasonably healthy current ratio, investors and analysts should continue to monitor the trend to ensure the company's ongoing ability to meet its short-term financial obligations.