Kirby Corporation (KEX)
Quick 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 74,444 | 67,073 | 53,540 | 75,216 | 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 | 322,571 |
| Short-term investments | US$ in thousands | — | — | 150,432 | 65,154 | — | — | — | — | — | — | — | — | — | — | — | — | 2,689 | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| 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 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($74,444K
+ $—K
+ $—K)
÷ $734,753K
= 0.10
The quick ratio of Kirby Corporation has exhibited fluctuations over the period under review. It started at a relatively low level of 0.65 as of March 31, 2020 and dropped to 0.23 by June 30, 2020. The ratio improved slightly to 0.27 by September 30, 2020, before declining sharply to 0.18 by the end of the year.
Throughout 2021 and the first half of 2022, the quick ratio remained low and fluctuated within a narrow range, hovering between 0.11 and 0.06. By the end of December 31, 2022, the ratio saw a temporary increase to 0.13, only to decrease sharply to 0.04 by March 31, 2023.
The quick ratio rebounded significantly in the following quarters, reaching 0.30 by June 30, 2024. However, it dropped to 0.10 in the subsequent quarters and remained at that level at the end of the observation period on December 31, 2024.
Overall, the quick ratio of Kirby Corporation indicates fluctuations in the company's ability to cover its short-term liabilities with its most liquid assets over the period analyzed. The downward trends observed in some quarters may suggest potential liquidity challenges, while the improvements in other periods signify enhanced liquidity positions.
Peer comparison
Dec 31, 2024