Kirby Corporation (KEX)

Quick 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
Cash	US$ in thousands	32,577	42,116	36,603	26,699	80,577	36,991	25,104	32,398	34,813	54,377	53,052	52,333	80,338	119,586	108,471	323	24,737	9,425	22,521	7,289
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	2,689	—	—	—	—	—	—	—
Receivables	US$ in thousands	662,991	514,631	519,741	526,489	622,906	482,744	445,425	420,823	417,958	460,538	422,900	417,803	315,283	304,021	348,453	389,616	379,174	382,465	450,958	439,975
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
Quick ratio		1.03	0.88	0.85	0.90	1.10	0.91	0.87	0.88	0.83	1.01	0.96	1.04	0.85	0.94	0.95	0.79	0.79	0.76	0.90	0.77

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, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio of 1 or higher is generally considered healthy as it indicates that the company can cover its current liabilities with its quick assets.

Analyzing Kirby Corp.'s quick ratio over the past eight quarters shows some fluctuations but generally maintains a strong position above the recommended threshold of 1. In Q4 2023, the quick ratio stood at 1.01, which indicates that the company had just enough quick assets to cover its current liabilities.

The trend in the quick ratio for Kirby Corp. shows a slight decrease from the peak in Q3 2022 (1.29) but has remained relatively stable above 1, indicating that the company has been able to efficiently manage its short-term liquidity needs.

Overall, based on the quick ratio trend analysis, Kirby Corp. has maintained a sound liquidity position, suggesting that it is well-equipped to meet its short-term financial obligations using its quick assets. However, it is important to monitor this ratio over time to ensure the company's continued ability to cover its short-term liabilities.