Knight Transportation Inc (KNX)

Current 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
Total current assets	US$ in thousands	1,709,020	1,761,170	1,885,110	1,442,640	1,493,570	1,474,350	1,473,420	1,466,270	1,414,280	1,404,460	1,074,880	963,745	923,363	998,553	829,500	838,442	890,028	900,968	868,312	813,462
Total current liabilities	US$ in thousands	1,825,290	1,730,370	945,421	905,811	894,007	912,352	1,103,800	1,166,030	1,074,820	852,541	705,548	948,439	839,708	1,262,200	971,483	979,281	993,038	696,758	743,587	761,967
Current ratio		0.94	1.02	1.99	1.59	1.67	1.62	1.33	1.26	1.32	1.65	1.52	1.02	1.10	0.79	0.85	0.86	0.90	1.29	1.17	1.07

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 eight quarters, ranging from a low of 0.94 in Q4 2023 to a high of 1.99 in Q2 2023. Generally, a current ratio above 1 indicates that the company has more current assets than current liabilities to cover its short-term obligations. In Q4 2023, the current ratio of 0.94 suggests that the company may have had difficulties meeting its short-term liabilities with its current assets. However, the current ratio improved in the following quarters and reached its peak in Q2 2023 at 1.99, indicating a strong ability to cover short-term obligations. The downward trend in the subsequent quarters, with ratios declining to 1.02 in Q3 2023 and 0.94 in Q4 2023, may raise concerns about liquidity management. Overall, it is important for Knight-Swift Transportation Holdings Inc to closely monitor its current ratio to ensure it maintains a healthy balance between current assets and current liabilities for financial stability.