Kratos Defense & Security Solutions (KTOS)
Current ratio
| Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 864,400 | 872,100 | 838,400 | 851,200 | 871,700 | 594,200 | 604,400 | 587,800 | 588,100 | 582,600 | 601,300 | 624,300 | 687,900 | 758,100 | 772,600 | 768,700 | 768,600 | 764,800 | 770,800 | 745,000 |
| Total current liabilities | US$ in thousands | 304,900 | 296,700 | 260,500 | 272,300 | 288,200 | 292,500 | 263,000 | 250,900 | 245,000 | 234,200 | 213,500 | 227,800 | 213,300 | 221,100 | 210,600 | 202,100 | 210,200 | 197,600 | 199,700 | 170,000 |
| Current ratio | 2.84 | 2.94 | 3.22 | 3.13 | 3.02 | 2.03 | 2.30 | 2.34 | 2.40 | 2.49 | 2.82 | 2.74 | 3.23 | 3.43 | 3.67 | 3.80 | 3.66 | 3.87 | 3.86 | 4.38 |
March 31, 2025 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $864,400K ÷ $304,900K
= 2.84
The analysis of Kratos Defense & Security Solutions’ current ratio over the specified period indicates a trend of declining liquidity, followed by a recent stabilization. The current ratio was notably high at 4.38 as of June 30, 2020, suggesting a strong liquidity position with ample current assets to cover current liabilities. Throughout the subsequent quarters, the ratio steadily decreased, reaching a low of approximately 2.03 on December 31, 2023. This decline reflects a reduction in liquidity, potentially indicating increased current liabilities or a decrease in current assets.
Despite this downward trend, the current ratio demonstrates a modest recovery in the most recent quarters, rising to approximately 3.02 by March 31, 2024, and maintaining above 3.0 through June 30, 2024, and September 30, 2024, before declining slightly to 2.94 at the end of 2024. Moving into early 2025, the ratio remains resilient at around 2.84.
In summary, the data indicates that while Kratos experienced a substantial decline in current ratio from a peak above 4.0 in mid-2020 to below 2.1 at the end of 2023, recent quarters suggest a stabilization and slight improvement in liquidity position. The current ratio consistently remains above the generally accepted threshold of 1.0, implying that the company maintains sufficient short-term assets to meet its short-term obligations, albeit with a narrower margin compared to earlier periods.
Peer comparison
Mar 31, 2025