Kratos Defense & Security Solutions (KTOS)
Quick 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 263,700 | 329,300 | 301,500 | 308,200 | 338,900 | 72,800 | 42,200 | 48,200 | 46,700 | 81,300 | 125,200 | 142,400 | 254,400 | 349,400 | 369,900 | 369,300 | 383,600 | 380,800 | 374,700 | 397,200 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | 3,200 | 1,800 | — | — | — | — | — | — | — | — | — | — | 211,300 | — |
| Receivables | US$ in thousands | 362,500 | 323,800 | 319,100 | 338,400 | 325,800 | 329,200 | 351,900 | 337,700 | 353,800 | 328,300 | 302,200 | 315,000 | 280,700 | 284,700 | 274,700 | 265,000 | 264,600 | 272,300 | 276,600 | 246,200 |
| 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 |
| Quick ratio | 2.05 | 2.20 | 2.38 | 2.37 | 2.31 | 1.37 | 1.51 | 1.55 | 1.63 | 1.75 | 2.00 | 2.01 | 2.51 | 2.87 | 3.06 | 3.14 | 3.08 | 3.31 | 4.32 | 3.78 |
March 31, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($263,700K
+ $—K
+ $362,500K)
÷ $304,900K
= 2.05
The quick ratio of Kratos Defense & Security Solutions exhibits a fluctuating trend over the period examined. Initially, as of June 30, 2020, the ratio stood at 3.78, indicating a strong liquidity position with ample liquid assets to cover current liabilities. This ratio increased further, reaching a peak of 4.32 by September 30, 2020, reflecting an exceptionally conservative liquidity buffer during that quarter.
Subsequently, the ratio experienced a gradual decline throughout 2021 and into 2022, decreasing to 3.31 as of December 31, 2020, and further dropping to 2.87 by the end of 2021. This downward trend continued into 2022, reaching a low point of 1.75 on December 31, 2022, and further decreasing to 1.37 by March 31, 2023. The last recorded figures in 2023 show the ratio maintaining a level just above 1.5, specifically 1.55 at June 30, 2023, and 1.51 at September 30, 2023, indicating a relatively stable liquidity position, albeit lower than the initial peaks.
In the first quarter of 2024, the ratio increased again to 2.31, and continued to maintain at elevated levels, reaching 2.38 by September 30, 2024. The final data point for December 31, 2024, shows a slight decrease to 2.20, and the ratio stands at 2.05 as of March 31, 2025.
Overall, the quick ratio demonstrates a trend from extremely high liquidity levels at the beginning of the period towards more moderate but still healthy liquidity positions in recent periods. The declining trend from initial highs suggests a possible reduction in liquid assets relative to short-term obligations, yet the ratios remain comfortably above 1.0, indicating that the company's liquid assets continue to adequately cover current liabilities. The recent rebound in 2024 indicates a potential improvement in liquidity management or asset composition.
Peer comparison
Mar 31, 2025