Knight Transportation Inc (KNX)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,709,020 | 1,493,570 | 1,414,280 | 923,363 | 890,028 |
| Total current liabilities | US$ in thousands | 1,825,290 | 894,007 | 1,074,820 | 839,708 | 993,038 |
| Current ratio | 0.94 | 1.67 | 1.32 | 1.10 | 0.90 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,709,020K ÷ $1,825,290K
= 0.94
The current ratio of Knight-Swift Transportation Holdings Inc has fluctuated over the past five years, indicating variations in its liquidity position. The current ratio stood at 0.94 as of December 31, 2023, which represents a decrease from the previous year's ratio of 1.67. This decline suggests that the company's current assets may not be sufficient to cover its current liabilities as effectively as in the prior year.
Comparing the current ratio to 2021 and 2020, where it was 1.32 and 1.10, respectively, we observe a downward trend in liquidity over the last three years. However, it is worth noting that the current ratio has improved compared to the ratio of 0.90 recorded at the end of 2019.
Overall, the current ratio indicates a mixed liquidity position for Knight-Swift Transportation Holdings Inc. Further analysis of the company's current asset composition and management of current liabilities would provide a more in-depth understanding of its short-term liquidity management.
Peer comparison
Dec 31, 2023