Knife River Corporation (KNF)
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 281,134 | 267,442 | 57,169 | 170,658 | 262,300 | 116,159 | 68,500 | 7,218 | 221,294 |
| Short-term investments | US$ in thousands | -34 | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 370,037 | 426,103 | 378,309 | 297,230 | 347,300 | 424,967 | 384,400 | 473,155 | 286,006 |
| Quick ratio | 0.76 | 0.63 | 0.15 | 0.57 | 0.76 | 0.27 | 0.18 | 0.02 | 0.77 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($281,134K
+ $-34K
+ $—K)
÷ $370,037K
= 0.76
The quick ratio of Knife River Corporation has shown fluctuations over the past few years. As of December 31, 2022, the quick ratio was 0.77, indicating that the company had $0.77 of liquid assets available to cover each dollar of its current liabilities. However, by March 31, 2023, the quick ratio dropped significantly to 0.02, suggesting a potential liquidity issue as the company may struggle to meet its short-term obligations with its current liquid assets.
Subsequently, the quick ratio improved to 0.18 by June 30, 2023, and further increased to 0.27 by September 30, 2023, signaling a positive trend in the company's liquidity position. This improvement was maintained as the quick ratio reached 0.76 by December 31, 2023, and 0.57 by March 31, 2024.
However, there was a decline in the quick ratio to 0.15 by June 30, 2024, raising concerns about the company's ability to meet its short-term liabilities with its readily available assets. The quick ratio rebounded to 0.63 by September 30, 2024, and eventually returned to 0.76 by December 31, 2024.
Overall, the fluctuating quick ratio of Knife River Corporation indicates varying levels of liquidity and the need for continuous monitoring of the company's ability to cover its short-term obligations with its quick assets.
Peer comparison
Dec 31, 2024