Kirby Corporation (KEX)

Liquidity ratios

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
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
Quick 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
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

Kirby Corporation's liquidity ratios have shown fluctuations over the period analyzed.

The current ratio, which measures the company's ability to cover its short-term liabilities with its short-term assets, has generally remained above 1, indicating a healthy level of liquidity. However, there was a noticeable decline in the current ratio from a high of 2.76 on March 31, 2020, to a low of 0.04 on March 31, 2023, before recovering to 1.45 by December 31, 2024.

The quick ratio, which provides a more stringent measure of liquidity by excluding inventory from current assets, also showed significant variability. It dropped from 0.65 on March 31, 2020, to 0.05 on June 30, 2022, before improving to 0.30 on June 30, 2024.

The cash ratio, which indicates the company's ability to cover its current liabilities with its cash and equivalents, followed a similar pattern to the quick ratio. It fell from 0.65 on March 31, 2020, to 0.05 on June 30, 2022, before rising to 0.30 by June 30, 2024.

Overall, the liquidity ratios of Kirby Corporation suggest that while the company experienced some fluctuations in liquidity over the period, it generally maintained a sufficient level of short-term assets to cover its short-term liabilities, with improvements seen in the more recent periods.

Additional liquidity measure

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 conversion cycle days 60.46 64.64 67.09 67.76 69.35 78.18 77.41 73.65 74.51 66.27 65.67 67.49 64.79 63.31 70.90 72.69 65.31 63.10 62.04 57.52

The cash conversion cycle of Kirby Corporation has shown some fluctuations over the past few years based on the provided data. The trend indicates an increase in the number of days required for Kirby Corporation to convert its resources into cash. From March 31, 2020, to December 31, 2024, the cycle ranged from a low of 57.52 days to a high of 78.18 days.

During the period, there were notable peaks and troughs in the cash conversion cycle, signifying potential changes in the company's operating efficiency and liquidity management. The cycle reached its highest point at 78.18 days on September 30, 2023, which could suggest delays in the collection of receivables or inefficient management of inventory and payables.

Conversely, the lowest cycle of 57.52 days on March 31, 2020, indicates a more efficient cash conversion process, possibly attributed to improved working capital management practices. Overall, the variations in the cash conversion cycle highlight the importance of monitoring operational processes to ensure optimal utilization of resources and maintain healthy liquidity levels.