Kirby Corporation (KEX)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 32,577 | 80,577 | 34,813 | 80,338 | 24,737 |
| Short-term investments | US$ in thousands | — | — | — | 2,689 | — |
| Receivables | US$ in thousands | 662,991 | 622,906 | 417,958 | 315,283 | 379,174 |
| Total current liabilities | US$ in thousands | 675,795 | 642,197 | 543,772 | 466,032 | 514,115 |
| Quick ratio | 1.03 | 1.10 | 0.83 | 0.85 | 0.79 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($32,577K
+ $—K
+ $662,991K)
÷ $675,795K
= 1.03
The quick ratio is a measure of a company's ability to meet its short-term liabilities with its most liquid assets. A quick ratio above 1 indicates that a company has enough liquid assets to cover its short-term obligations.
Looking at Kirby Corp.'s quick ratio over the past five years, we observe the following trends:
- In 2023, the quick ratio decreased to 1.01 from 1.17 in 2022. This suggests a slight decline in the company's ability to cover its short-term liabilities with its quick assets.
- The quick ratio was highest in 2020 at 1.58, indicating a strong ability to meet short-term obligations with liquid assets.
- The quick ratio fluctuated over the years, reaching a low of 1.10 in 2019 before increasing in subsequent years.
Overall, Kirby Corp.'s quick ratio has shown variability over the years, indicating fluctuations in the company's liquidity position. It is important for the company to maintain a healthy quick ratio above 1 to ensure it can readily meet its short-term financial obligations. Further analysis of the company's asset composition and liquidity management strategies may provide insights into the factors influencing the changes in the quick ratio.
Peer comparison
Dec 31, 2023