Kinder Morgan Inc (KMI)
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 | 83,000 | 80,000 | 497,000 | 416,000 | 745,000 | 483,000 | 100,000 | 84,000 | 1,140,000 | 102,000 | 1,365,000 | 1,377,000 | 1,184,000 | 632,000 | 526,000 | 360,000 | 185,000 | 241,000 | 213,000 | 221,000 |
| Short-term investments | US$ in thousands | 199,000 | 8,000 | 14,000 | 8,000 | 1,000 | 42,000 | 65,000 | 7,545,000 | 7,578,000 | 7,620,000 | — | — | 0 | 0 | 0 | 0 | 925,000 | — | — | — |
| Receivables | US$ in thousands | 1,588,000 | 1,502,000 | 1,284,000 | 1,321,000 | 1,882,000 | 1,873,000 | 2,063,000 | 1,661,000 | 1,653,000 | 1,433,000 | 1,416,000 | 1,425,000 | 1,340,000 | 1,142,000 | 1,073,000 | 1,186,000 | 1,408,000 | 1,273,000 | 1,227,000 | 1,310,000 |
| Total current liabilities | US$ in thousands | 7,221,000 | 6,251,000 | 5,603,000 | 4,775,000 | 6,930,000 | 6,148,000 | 6,892,000 | 6,450,000 | 5,821,000 | 5,825,000 | 5,059,000 | 4,618,000 | 5,074,000 | 4,376,000 | 5,202,000 | 5,608,000 | 5,100,000 | 13,726,000 | 5,659,000 | 5,009,000 |
| Quick ratio | 0.26 | 0.25 | 0.32 | 0.37 | 0.38 | 0.39 | 0.32 | 1.44 | 1.78 | 1.57 | 0.55 | 0.61 | 0.50 | 0.41 | 0.31 | 0.28 | 0.49 | 0.11 | 0.25 | 0.31 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($83,000K
+ $199,000K
+ $1,588,000K)
÷ $7,221,000K
= 0.26
The quick ratio of Kinder Morgan Inc has been fluctuating over the past eight quarters. The quick ratio measures the company's ability to meet its short-term financial obligations with its liquid assets excluding inventory.
From Q1 2022 to Q4 2023, the quick ratio has shown a downward trend, decreasing from 0.34 to 0.28. This indicates a potential decline in the company's ability to cover its current liabilities with its most liquid assets.
Despite some fluctuations, the quick ratio has generally remained below 1, indicating that Kinder Morgan Inc may have difficulty meeting its short-term obligations with its quick assets alone. Investors and creditors may view this as a potential risk factor, suggesting a need for careful monitoring of the company's liquidity position.
Peer comparison
Dec 31, 2023