Kirby Corporation (KEX)

Current 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
Total current assets	US$ in thousands	1,068,560	1,164,330	1,166,620	1,175,480	1,135,160	42,116	36,603	26,699	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
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
Current ratio		1.45	1.67	1.70	1.81	1.68	0.07	0.06	0.04	1.89	1.97	1.94	1.98	1.85	1.91	1.93	2.11	2.25	2.36	2.25	2.76

December 31, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $1,068,560K ÷ $734,753K
= 1.45

The current ratio of Kirby Corporation has shown fluctuations over the period analyzed. The current ratio, which measures the company's ability to cover its short-term liabilities with its current assets, stood at a healthy 2.76 as of March 31, 2020. However, there was a slight decrease to 2.25 by June 30, 2020, followed by a small increase to 2.36 by September 30, 2020, and then a return to 2.25 by December 31, 2020.

Subsequently, the current ratio experienced a declining trend starting from March 31, 2021, at 2.11, dropping to 1.93 by June 30, 2021, and further to 1.91 by September 30, 2021. The ratio decreased to 1.85 by December 31, 2021, and continued to fluctuate within a narrow range before dropping sharply to 0.04 in March 31, 2023.

The significant decrease observed in March 31, 2023, was unusual and may warrant further investigation into the company's liquidity position and management of working capital. However, there was a recovery in the current ratio over the subsequent periods, reaching 1.81 by March 31, 2024. The ratio fluctuated around 1.7 in the following periods before declining slightly to 1.45 by December 31, 2024.

Overall, the current ratio of Kirby Corporation reflects the company's ability to meet its short-term obligations with its current assets, but the downward trend in recent periods indicates potential challenges that require attention to ensure ongoing liquidity and financial stability.