Kirby Corporation (KEX)

Quick ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash	US$ in thousands	74,444	32,577	80,577	34,813	80,338
Short-term investments	US$ in thousands	-7,371	—	—	—	2,689
Receivables	US$ in thousands	—	—	—	—	—
Total current liabilities	US$ in thousands	734,753	675,795	642,197	543,772	466,032
Quick ratio		0.09	0.05	0.13	0.06	0.18

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($74,444K + $-7,371K + $—K) ÷ $734,753K
= 0.09

The quick ratio of Kirby Corporation, as reflected in the provided data, has shown significant fluctuations over the past five years. In December 2020, the quick ratio stood at 0.18, indicating that the company had $0.18 in liquid assets for every $1 of current liabilities. However, by the end of 2021, the quick ratio had decreased to 0.06, suggesting a decline in the company's ability to cover its short-term obligations with its most liquid assets.

The quick ratio improved in 2022 to 0.13, but then dropped sharply in 2023 to 0.05, which raised concerns about Kirby Corporation's liquidity position. However, by the end of 2024, the quick ratio had increased to 0.09, showing a slight improvement in the company's ability to meet its short-term liabilities with its quick assets.

Overall, the fluctuating trend in Kirby Corporation's quick ratio highlights the importance of closely monitoring the company's liquidity position and managing its short-term obligations effectively to ensure financial stability and operational continuity.