Kirby (KEX) Financials

$145.43 -3.26 (-2.19%)

Closing price 05/21/2026 03:59 PM Eastern

Extended Trading

$145.60 +0.17 (+0.12%)

As of 05/21/2026 04:10 PM Eastern

Annual Income Statements for Kirby

This table shows Kirby's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	227	141	313	78	142	-273	-247	122	223	287	355
Consolidated Net Income / (Loss)	228	143	314	79	143	-272	-247	123	223	287	355
Net Income / (Loss) Continuing Operations	228	143	314	79	143	-272	-247	123	223	287	355
Total Pre-Tax Income	362	228	73	114	190	-461	-291	165	294	363	471
Total Operating Income	381	247	94	155	242	-421	-258	193	335	399	496
Total Gross Profit	785	646	656	807	808	661	594	724	911	1,066	1,148
Total Revenue	2,148	1,771	2,214	2,971	2,838	2,171	2,247	2,785	3,092	3,266	3,364
Operating Revenue	2,148	1,771	2,214	2,971	2,838	2,171	2,247	2,785	3,092	3,266	3,364
Total Cost of Revenue	1,362	1,125	1,558	2,163	2,030	1,511	1,653	2,061	2,180	2,200	2,217
Operating Cost of Revenue	1,362	1,125	1,558	2,163	2,030	1,511	1,653	2,061	2,180	2,200	2,217
Total Operating Expenses	405	399	563	652	566	1,081	852	531	576	666	651
Selling, General & Admin Expense	193	175	220	304	277	258	267	303	335	337	356
Depreciation Expense	192	201	203	225	220	220	214	201	211	240	264
Other Operating Expenses / (Income)	21	23	29	39	42	42	36	35	35	35	36
Impairment Charge	0.00	0.00	106	85	36	561	341	0.00	0.00	56	0.00
Other Special Charges / (Income)	-1.67	0.13	4.49	-1.97	-8.15	-0.12	-5.76	-8.28	-5.01	-2.21	-4.79
Total Other Income / (Expense), net	-19	-20	-21	-41	-52	-41	-32	-28	-41	-36	-25
Interest Expense	19	18	21	47	56	49	42	45	52	49	46
Other Income / (Expense), net	-0.66	-2.47	0.57	5.73	3.79	8.15	10	17	11	13	21
Income Tax Expense	134	85	-241	35	47	-190	-44	42	71	76	116
Net Income / (Loss) Attributable to Noncontrolling Interest	1.29	1.40	0.72	0.63	0.67	0.95	0.18	0.47	-0.03	0.19	0.85
Basic Earnings per Share	$4.12	$2.63	$5.62	$1.31	$2.38	($4.55)	($4.11)	$2.04	$3.74	$4.95	$6.37
Weighted Average Basic Shares Outstanding	54.73M	53.45M	55.31M	59.88M	59.98M	60.09M	60.20M	60.02M	58.52M	57.13M	53.65M
Diluted Earnings per Share	$4.11	$2.62	$5.62	$1.31	$2.37	($4.55)	($4.11)	$2.03	$3.72	$4.91	$6.33
Weighted Average Diluted Shares Outstanding	54.73M	53.45M	55.31M	59.88M	59.98M	60.09M	60.20M	60.02M	58.52M	57.13M	53.65M
Weighted Average Basic & Diluted Shares Outstanding	54.73M	53.45M	55.31M	59.88M	59.98M	60.09M	60.20M	60.02M	58.52M	57.13M	53.65M

This table shows Kirby's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	63	62	70	84	90	43	76	94	92	92	81
Consolidated Net Income / (Loss)	63	62	70	84	90	43	76	94	93	92	81
Net Income / (Loss) Continuing Operations	63	62	70	84	90	43	76	94	93	92	81
Total Pre-Tax Income	82	81	92	111	117	43	100	124	123	124	105
Total Operating Income	94	93	102	120	127	50	106	132	129	130	108
Total Gross Profit	234	237	257	270	279	259	273	292	291	291	286
Total Revenue	765	799	808	824	831	802	786	855	871	852	844
Operating Revenue	765	799	808	824	831	802	786	855	871	852	844
Total Cost of Revenue	531	562	551	554	552	543	512	563	580	560	559
Operating Cost of Revenue	531	562	551	554	552	543	512	563	580	560	559
Total Operating Expenses	141	145	156	150	152	209	168	160	161	162	178
Selling, General & Admin Expense	79	84	90	80	84	82	95	86	88	87	101
Depreciation Expense	53	55	58	59	61	63	64	66	67	68	68
Other Operating Expenses / (Income)	9.67	6.16	8.04	10	8.97	7.58	8.83	11	9.77	6.48	9.85
Other Special Charges / (Income)	-1.53	-0.78	-0.07	-0.52	-1.62	-0.00	-0.07	-1.69	-3.00	-0.03	-1.45
Total Other Income / (Expense), net	-12	-11	-9.88	-9.73	-9.55	-7.17	-5.20	-7.92	-6.28	-5.47	-2.97
Interest Expense	13	13	13	13	12	11	11	13	12	11	10
Other Income / (Expense), net	1.59	1.75	3.27	3.09	2.95	3.49	5.33	4.81	5.56	5.75	7.28
Income Tax Expense	19	19	22	27	27	0.01	24	30	30	32	23
Net Income / (Loss) Attributable to Noncontrolling Interest	0.04	0.06	-0.15	0.13	0.06	0.15	0.28	0.10	0.24	0.22	0.13
Basic Earnings per Share	$1.06	$1.04	$1.20	$1.44	$1.56	$0.75	$1.33	$1.68	$1.66	$1.70	$1.51
Weighted Average Basic Shares Outstanding	59.10M	58.52M	58.30M	57.90M	57.40M	57.13M	56.10M	55.80M	54.20M	53.65M	53.50M
Diluted Earnings per Share	$1.05	$1.04	$1.19	$1.43	$1.55	$0.74	$1.33	$1.67	$1.65	$1.68	$1.50
Weighted Average Diluted Shares Outstanding	59.10M	58.52M	58.30M	57.90M	57.40M	57.13M	56.10M	55.80M	54.20M	53.65M	53.50M
Weighted Average Basic & Diluted Shares Outstanding	59.10M	58.52M	58.30M	57.90M	57.40M	57.13M	56.10M	55.80M	54.20M	53.65M	53.50M

This table details how cash moves in and out of Kirby's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-18	-0.25	14	-12	542	56	-46	46	-48	42	4.33
Net Cash From Operating Activities	524	416	353	347	512	445	322	294	540	756	670
Net Cash From Continuing Operating Activities	524	416	353	347	512	445	322	294	540	756	670
Net Income / (Loss) Continuing Operations	228	143	314	79	143	-272	-247	123	223	287	355
Consolidated Net Income / (Loss)	228	143	314	79	143	-272	-247	123	223	287	355
Depreciation Expense	192	201	203	225	220	220	214	201	211	240	264
Amortization Expense	24	21	22	21	24	30	33	29	29	33	29
Non-Cash Adjustments To Reconcile Net Income	11	11	123	105	42	580	350	6.49	7.00	72	15
Changes in Operating Assets and Liabilities, net	69	41	-308	-83	83	-113	-28	-66	70	124	6.55
Net Cash From Investing Activities	-362	-350	-593	-783	-453	-486	-56	-140	-413	-400	-352
Net Cash From Continuing Investing Activities	-362	-350	-593	-783	72	-486	-56	-140	-413	-400	-352
Purchase of Property, Plant & Equipment	-345	-231	-177	-302	-248	-148	-98	-173	-402	-343	-264
Acquisitions	-41	-137	-470	-534	262	-355	-9.12	-3.90	-38	-78	-116
Sale of Property, Plant & Equipment	24	19	54	53	58	17	51	37	26	20	31
Other Investing Activities, net	-	0.00	0.00	-	-	-	-	-	0.00	0.00	-3.00
Net Cash From Financing Activities	-180	-67	254	423	-42	97	-311	-109	-175	-315	-314
Net Cash From Continuing Financing Activities	-180	-67	254	423	-42	97	-311	-109	-175	-315	-314
Repayment of Debt	-100	-53	-15	-83	-545	-150	-308	-397	-351	-100	-2.59
Repurchase of Common Equity	-241	-1.83	0.00	-0.78	-	0.00	0.00	-23	-113	-175	-354
Issuance of Debt	161	-	270	499	500	250	0.00	311	289	-44	44
Other Financing Activities, net	-0.08	-3.41	-0.70	7.53	2.90	-3.52	-3.21	-0.24	0.30	4.02	-1.04
Cash Interest Paid	21	20	22	41	56	49	41	43	49	49	46

This table details how cash moves in and out of Kirby's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	5.51	-9.54	43	-22	14	7.37	-23	17	-21	32	-21
Net Cash From Operating Activities	96	216	123	179	207	247	37	94	228	312	98
Net Cash From Continuing Operating Activities	96	216	123	179	207	247	37	94	228	312	98
Net Income / (Loss) Continuing Operations	63	62	70	84	90	43	76	94	93	92	81
Consolidated Net Income / (Loss)	63	62	70	84	90	43	76	94	93	92	81
Depreciation Expense	53	55	58	59	61	63	64	66	67	68	68
Amortization Expense	7.01	7.92	8.35	8.41	8.21	7.61	7.19	7.45	7.72	7.14	6.70
Non-Cash Adjustments To Reconcile Net Income	-1.49	2.69	8.02	2.30	2.40	60	9.09	2.23	-0.21	3.50	11
Changes in Operating Assets and Liabilities, net	-26	89	-21	25	45	75	-120	-76	60	142	-70
Net Cash From Investing Activities	-140	-123	-79	-147	-72	-103	-176	-63	-60	-54	-127
Net Cash From Continuing Investing Activities	-140	-123	-79	-147	-72	-103	-176	-63	-60	-54	-127
Purchase of Property, Plant & Equipment	-104	-127	-81	-89	-76	-97	-79	-71	-67	-47	-48
Acquisitions	-38	-	0.00	-	-	-13	-97	-	-9.20	-9.27	-81
Sale of Property, Plant & Equipment	1.32	4.24	2.41	6.64	4.78	6.56	0.08	11	17	2.68	2.71
Net Cash From Financing Activities	49	-103	-2.01	-54	-121	-137	116	-14	-189	-227	8.54
Net Cash From Continuing Financing Activities	49	-103	-2.01	-54	-121	-137	116	-14	-189	-227	8.54
Repayment of Debt	-0.03	0.06	-0.03	-0.03	-0.03	-100	-1.00	-1.53	-0.03	-0.03	-70
Repurchase of Common Equity	-23	-52	-42	-44	-56	-33	-101	-31	-120	-102	-53
Issuance of Debt	69	-52	44	-13	-70	-4.95	224	19	-69	-130	134
Other Financing Activities, net	3.31	0.37	-3.78	2.53	4.26	0.90	-5.69	-0.01	-0.02	4.68	-2.36
Cash Interest Paid	21	4.04	22	4.73	20	2.46	18	5.21	20	3.48	19
Cash Income Taxes Paid	0.80	1.33	1.06	13	1.09	4.09	25	55	1.22	-	0.71

This table presents Kirby's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	4,152	4,290	5,127	5,872	6,079	5,924	5,399	5,555	5,722	5,852	6,008
Total Current Assets	641	633	957	1,096	918	1,048	1,004	1,212	1,135	1,069	1,078
Cash & Equivalents	5.89	5.63	20	7.80	25	80	35	81	33	74	79
Accounts Receivable	393	393	558	522	483	600	568	598	579	537	543
Inventories, net	185	185	316	507	351	310	331	462	454	394	398
Prepaid Expenses	45	49	63	59	58	58	70	71	69	63	58
Plant, Property, & Equipment, net	2,779	2,921	2,959	3,540	3,777	3,917	3,679	3,633	3,861	4,023	4,098
Plant, Property & Equipment, gross	4,060	4,329	4,361	5,012	5,324	5,615	5,393	-	-	-	6,393
Accumulated Depreciation	1,281	1,408	1,402	1,472	1,547	1,698	1,714	-	-	-	2,295
Total Noncurrent Assets	733	736	1,211	1,235	1,384	959	717	710	726	760	832
Goodwill	587	598	935	954	954	658	439	439	439	439	439
Intangible Assets	-	87	233	224	211	69	60	51	43	34	30
Other Noncurrent Operating Assets	144	48	41	55	218	230	216	217	242	284	363
Total Liabilities & Shareholders' Equity	4,152	4,290	5,127	5,872	6,079	5,924	5,399	5,555	5,722	5,852	6,008
Total Liabilities	1,873	1,877	2,013	2,655	2,708	2,837	2,510	2,510	2,536	2,499	2,625
Total Current Liabilities	362	358	480	608	514	466	544	642	676	735	707
Short-Term Debt	0.00	0.00	0.00	0.02	0.02	0.04	1.93	3.29	8.07	8.23	7.36
Accounts Payable	133	135	222	278	207	163	199	278	269	251	219
Accrued Expenses	16	13	27	32	33	25	30	42	30	32	233
Current Deferred Revenue	41	36	48	-	43	45	73	119	135	177	202
Current Deferred & Payable Income Tax Liabilities	3.56	3.29	0.19	2.79	0.67	0.47	0.00	0.32	1.49	25	0.00
Other Current Liabilities	112	123	109	190	136	144	145	102	118	124	46
Total Noncurrent Liabilities	1,511	1,519	1,533	2,048	2,193	2,371	1,967	1,868	1,860	1,764	1,919
Long-Term Debt	775	723	992	1,410	1,370	1,469	1,161	1,076	1,009	867	912
Capital Lease Obligations	-	-	-	-	-	-	-	-	139	148	170
Noncurrent Deferred & Payable Income Tax Liabilities	670	705	468	543	588	607	574	626	697	739	826
Other Noncurrent Operating Liabilities	67	90	72	95	235	295	231	165	16	9.59	11
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,279	2,413	3,114	3,216	3,372	3,088	2,889	3,045	3,187	3,353	3,383
Total Preferred & Common Equity	2,269	2,409	3,111	3,213	3,369	3,084	2,886	3,043	3,185	3,352	3,381
Total Common Equity	2,269	2,409	3,111	3,213	3,369	3,084	2,886	3,043	3,185	3,352	3,381
Common Stock	441	438	810	830	842	852	861	866	871	875	880
Retained Earnings	2,201	2,342	2,647	2,724	2,866	2,593	2,346	2,469	2,692	2,978	3,333
Treasury Stock	-328	-320	-313	-307	-302	-299	-295	-309	-412	-573	-919
Accumulated Other Comprehensive Income / (Loss)	-45	-51	-32	-34	-38	-61	-26	17	35	71	86
Noncontrolling Interest	10	3.55	3.40	3.11	2.97	3.25	2.46	2.29	1.25	1.44	2.28

This table presents Kirby's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	5,456	5,575	5,575	5,683	5,776	5,866	5,871	6,015	6,080	6,064	6,119
Total Current Assets	1,126	1,200	1,169	1,196	1,175	1,167	1,164	1,102	1,185	1,160	1,142
Cash & Equivalents	37	27	37	42	75	54	67	51	68	47	58
Accounts Receivable	616	636	560	569	585	598	590	554	626	620	603
Inventories, net	392	475	505	506	447	445	434	435	426	424	418
Prepaid Expenses	81	62	68	79	68	70	73	63	64	69	63
Plant, Property, & Equipment, net	3,641	3,666	3,698	3,782	3,883	3,975	3,985	4,149	4,135	4,122	4,163
Plant, Property & Equipment, gross	5,435	5,533	5,580	5,710	5,880	5,991	6,046	6,310	6,328	6,360	6,521
Accumulated Depreciation	1,794	1,867	1,882	1,928	1,997	2,016	2,061	2,161	2,192	2,238	2,358
Total Noncurrent Assets	689	709	708	705	717	725	721	763	760	782	814
Goodwill	439	439	439	439	439	439	439	439	439	439	439
Intangible Assets	54	49	47	45	41	39	37	32	33	31	28
Other Noncurrent Operating Assets	197	221	222	221	88	89	82	292	288	312	347
Total Liabilities & Shareholders' Equity	5,456	5,575	5,575	5,683	5,776	5,866	5,871	6,015	6,080	6,064	6,119
Total Liabilities	2,481	2,490	2,462	2,525	2,559	2,603	2,567	2,687	2,690	2,700	2,703
Total Current Liabilities	571	615	656	636	650	685	698	699	679	684	717
Short-Term Debt	3.60	3.98	7.45	9.61	8.64	8.97	8.17	7.34	6.43	7.28	6.09
Accounts Payable	242	278	280	258	250	267	249	272	250	223	263
Accrued Expenses	210	174	205	199	195	211	217	190	204	220	201
Current Deferred Revenue	82	124	131	135	153	154	168	171	181	189	205
Current Deferred & Payable Income Tax Liabilities	-	1.11	0.00	2.25	11	10	22	22	0.78	0.59	0.00
Other Current Liabilities	33	33	33	32	33	33	34	35	38	44	42
Total Noncurrent Liabilities	1,910	1,875	1,805	1,889	1,909	1,919	1,869	1,988	2,011	2,017	1,985
Long-Term Debt	1,115	1,076	991	1,058	1,052	1,039	970	1,091	1,111	1,042	977
Capital Lease Obligations	144	146	-	142	137	144	149	146	142	159	159
Noncurrent Deferred & Payable Income Tax Liabilities	605	638	657	673	706	721	735	741	747	805	835
Other Noncurrent Operating Liabilities	47	14	158	16	14	15	15	9.57	10	11	13
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,975	3,085	3,113	3,158	3,217	3,263	3,304	3,328	3,390	3,363	3,417
Total Preferred & Common Equity	2,973	3,083	3,111	3,157	3,216	3,261	3,302	3,326	3,388	3,361	3,414
Total Common Equity	2,973	3,083	3,111	3,157	3,216	3,261	3,302	3,326	3,388	3,361	3,414
Common Stock	864	863	865	868	866	869	873	872	874	877	877
Retained Earnings	2,431	2,509	2,567	2,630	2,762	2,846	2,936	3,054	3,149	3,241	3,414
Treasury Stock	-309	-307	-340	-360	-446	-488	-540	-670	-700	-821	-961
Accumulated Other Comprehensive Income / (Loss)	-13	17	19	19	35	35	35	70	66	64	84
Noncontrolling Interest	2.31	2.21	2.17	1.19	1.09	1.22	1.28	1.72	1.82	2.06	2.41

This table displays calculated financial ratios and metrics derived from Kirby's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-16.32%	-17.55%	25.06%	34.15%	-4.45%	-23.50%	3.47%	23.95%	11.02%	5.64%	3.01%
EBITDA Growth	-10.22%	-21.70%	-31.56%	27.40%	20.32%	-133.20%	99.26%	36,739.22%	33.23%	16.81%	18.48%
EBIT Growth	-20.08%	-35.55%	-61.54%	70.94%	52.67%	-267.86%	39.86%	184.46%	65.17%	19.00%	25.70%
NOPAT Growth	-19.50%	-35.35%	159.50%	-73.28%	69.52%	-261.52%	38.65%	179.43%	76.93%	24.29%	18.55%
Net Income Growth	-19.90%	-37.36%	119.81%	-74.81%	80.86%	-289.90%	9.14%	149.75%	81.58%	28.71%	23.88%
EPS Growth	-16.63%	-36.25%	114.50%	-76.69%	80.92%	-291.98%	9.67%	149.39%	83.25%	31.99%	28.92%
Operating Cash Flow Growth	29.10%	-20.69%	-15.01%	-1.81%	47.50%	-13.07%	-27.73%	-8.54%	83.67%	40.03%	-11.41%
Free Cash Flow Firm Growth	37.46%	-50.42%	-852.79%	22.39%	119.58%	-161.14%	636.84%	-57.98%	-110.67%	2,713.35%	-12.73%
Invested Capital Growth	3.08%	2.67%	30.58%	13.17%	2.12%	-5.14%	-10.21%	0.67%	6.57%	-0.21%	2.11%
Revenue Q/Q Growth	-7.90%	-2.67%	14.03%	0.45%	-2.26%	-7.11%	4.73%	5.25%	2.28%	0.10%	1.49%
EBITDA Q/Q Growth	-4.16%	-4.96%	-24.80%	9.15%	7.78%	6.41%	38.97%	7.36%	6.64%	-4.68%	11.95%
EBIT Q/Q Growth	-7.23%	-10.14%	-53.48%	26.66%	16.82%	2.24%	2.64%	16.14%	10.18%	-9.04%	18.76%
NOPAT Q/Q Growth	-6.92%	-9.78%	213.55%	-77.45%	18.38%	2.00%	2.58%	22.59%	12.39%	-6.28%	14.35%
Net Income Q/Q Growth	-7.09%	-11.31%	172.33%	-76.39%	23.59%	6.68%	-4.78%	27.10%	12.43%	-6.21%	16.01%
EPS Q/Q Growth	-5.73%	-11.49%	166.35%	-77.53%	23.44%	6.76%	-4.58%	26.88%	12.73%	-5.76%	17.44%
Operating Cash Flow Q/Q Growth	14.47%	-14.28%	4.86%	-5.25%	10.71%	-8.07%	-12.03%	45.32%	18.17%	4.33%	10.71%
Free Cash Flow Firm Q/Q Growth	54.60%	-41.52%	16.98%	-74.07%	627.45%	-35.24%	-21.19%	238.74%	-112.31%	8.63%	69.87%
Invested Capital Q/Q Growth	-0.33%	0.82%	4.76%	0.00%	-1.50%	-1.16%	0.66%	-3.51%	-0.14%	-1.21%	-2.71%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.56%	36.48%	29.64%	27.18%	28.48%	30.42%	26.43%	25.99%	29.47%	32.63%	34.11%
EBITDA Margin	27.74%	26.35%	14.42%	13.69%	17.24%	-7.48%	-0.05%	15.80%	18.96%	20.97%	24.12%
Operating Margin	17.73%	13.97%	4.23%	5.23%	8.53%	-19.38%	-11.49%	6.93%	10.84%	12.22%	14.75%
EBIT Margin	17.69%	13.83%	4.25%	5.42%	8.66%	-19.00%	-11.04%	7.53%	11.20%	12.61%	15.39%
Profit (Net Income) Margin	10.62%	8.07%	14.18%	2.66%	5.04%	-12.51%	-10.98%	4.41%	7.21%	8.78%	10.57%
Tax Burden Percent	63.03%	62.70%	429.92%	69.27%	75.34%	58.87%	84.92%	74.41%	75.79%	79.09%	75.39%
Interest Burden Percent	95.19%	92.99%	77.51%	70.90%	77.22%	111.81%	117.12%	78.72%	84.97%	88.07%	91.05%
Effective Tax Rate	36.97%	37.30%	-329.92%	30.73%	24.66%	0.00%	0.00%	25.59%	24.21%	20.91%	24.61%
Return on Invested Capital (ROIC)	7.98%	5.02%	11.14%	2.47%	3.90%	-6.39%	-4.25%	3.55%	6.07%	7.31%	8.59%
ROIC Less NNEP Spread (ROIC-NNEP)	6.35%	3.37%	0.70%	0.08%	1.06%	-4.73%	-9.46%	1.62%	3.17%	4.57%	6.69%
Return on Net Nonoperating Assets (RNNOA)	2.05%	1.07%	0.21%	0.03%	0.44%	-2.01%	-4.01%	0.59%	1.09%	1.46%	1.96%
Return on Equity (ROE)	10.03%	6.09%	11.36%	2.50%	4.34%	-8.41%	-8.26%	4.14%	7.15%	8.77%	10.55%
Cash Return on Invested Capital (CROIC)	4.95%	2.39%	-15.38%	-9.89%	1.80%	-1.12%	6.51%	2.88%	-0.30%	7.52%	6.50%
Operating Return on Assets (OROA)	9.16%	5.80%	2.00%	2.93%	4.11%	-6.88%	-4.38%	3.83%	6.14%	7.12%	8.73%
Return on Assets (ROA)	5.50%	3.38%	6.67%	1.44%	2.39%	-4.53%	-4.36%	2.24%	3.95%	4.96%	5.99%
Return on Common Equity (ROCE)	9.99%	6.07%	11.34%	2.50%	4.34%	-8.40%	-8.25%	4.13%	7.15%	8.77%	10.55%
Return on Equity Simple (ROE_SIMPLE)	10.05%	5.93%	10.09%	2.46%	4.25%	-8.81%	-8.55%	4.03%	7.00%	8.56%	0.00%
Net Operating Profit after Tax (NOPAT)	240	155	403	108	182	-295	-181	144	254	316	374
NOPAT Margin	11.17%	8.76%	18.18%	3.62%	6.42%	-13.56%	-8.04%	5.15%	8.21%	9.66%	11.12%
Net Nonoperating Expense Percent (NNEP)	1.63%	1.65%	10.45%	2.38%	2.84%	-1.67%	5.21%	1.94%	2.90%	2.75%	1.90%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	3.48%	5.85%	7.21%	8.37%
Cost of Revenue to Revenue	63.44%	63.52%	70.36%	72.82%	71.52%	69.58%	73.57%	74.01%	70.53%	67.37%	65.89%
SG&A Expenses to Revenue	9.00%	9.88%	9.96%	10.25%	9.77%	11.89%	11.88%	10.87%	10.84%	10.32%	10.59%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	18.84%	22.51%	25.41%	21.95%	19.95%	49.80%	37.92%	19.07%	18.64%	20.41%	19.36%
Earnings before Interest and Taxes (EBIT)	380	245	94	161	246	-413	-248	210	346	412	518
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	596	466	319	407	489	-162	-1.20	440	586	685	811
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.25	1.49	1.28	1.26	1.59	1.01	1.24	1.27	1.46	1.81	1.77
Price to Tangible Book Value (P/TBV)	1.69	2.08	2.05	1.98	2.44	1.32	1.50	1.51	1.72	2.11	2.05
Price to Revenue (P/Rev)	1.32	2.02	1.80	1.36	1.89	1.43	1.59	1.38	1.50	1.86	1.78
Price to Earnings (P/E)	12.54	25.33	12.73	51.40	37.70	0.00	0.00	31.52	20.81	21.18	16.84
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.98%	3.95%	7.85%	1.95%	2.65%	0.00%	0.00%	3.17%	4.81%	4.72%	5.94%
Enterprise Value to Invested Capital (EV/IC)	1.19	1.37	1.21	1.17	1.42	1.00	1.17	1.20	1.33	1.63	1.59
Enterprise Value to Revenue (EV/Rev)	1.69	2.43	2.24	1.83	2.37	2.07	2.09	1.74	1.86	2.15	2.08
Enterprise Value to EBITDA (EV/EBITDA)	6.08	9.22	15.54	13.36	13.72	0.00	0.00	11.03	9.82	10.25	8.60
Enterprise Value to EBIT (EV/EBIT)	9.52	17.56	52.67	33.76	27.31	0.00	0.00	23.16	16.64	17.04	13.48
Enterprise Value to NOPAT (EV/NOPAT)	15.09	27.72	12.33	50.53	36.81	0.00	0.00	33.82	22.68	22.24	18.66
Enterprise Value to Operating Cash Flow (EV/OCF)	6.90	10.34	14.04	15.66	13.12	10.12	14.62	16.50	10.66	9.28	10.42
Enterprise Value to Free Cash Flow (EV/FCFF)	24.32	58.27	0.00	0.00	79.52	0.00	16.96	41.68	0.00	21.62	24.64
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.34	0.30	0.32	0.44	0.41	0.48	0.40	0.35	0.36	0.31	0.32
Long-Term Debt to Equity	0.34	0.30	0.32	0.44	0.41	0.48	0.40	0.35	0.36	0.30	0.32
Financial Leverage	0.32	0.32	0.31	0.38	0.42	0.43	0.42	0.36	0.34	0.32	0.29
Leverage Ratio	1.83	1.80	1.70	1.74	1.81	1.86	1.89	1.85	1.81	1.77	1.76
Compound Leverage Factor	1.74	1.67	1.32	1.23	1.40	2.08	2.22	1.45	1.54	1.56	1.60
Debt to Total Capital	25.37%	23.05%	24.17%	30.48%	28.89%	32.23%	28.71%	26.17%	26.61%	23.38%	24.35%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%	0.08%	0.19%	0.19%	0.16%
Long-Term Debt to Total Capital	25.37%	23.05%	24.17%	30.48%	28.89%	32.23%	28.66%	26.09%	26.42%	23.19%	24.19%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.34%	0.11%	0.08%	0.07%	0.06%	0.07%	0.06%	0.06%	0.03%	0.03%	0.05%
Common Equity to Total Capital	74.29%	76.84%	75.75%	69.45%	71.05%	67.70%	71.23%	73.77%	73.36%	76.59%	75.59%
Debt to EBITDA	1.30	1.55	3.11	3.47	2.80	-9.04	-968.67	2.45	1.97	1.49	1.34
Net Debt to EBITDA	1.29	1.53	3.04	3.44	2.74	-8.53	-937.90	2.27	1.91	1.38	1.24
Long-Term Debt to EBITDA	1.30	1.55	3.11	3.47	2.80	-9.04	-967.06	2.45	1.96	1.48	1.33
Debt to NOPAT	3.23	4.66	2.47	13.11	7.51	-4.99	-6.44	7.52	4.55	3.24	2.91
Net Debt to NOPAT	3.20	4.61	2.41	13.01	7.36	-4.70	-6.23	6.95	4.41	3.00	2.69
Long-Term Debt to NOPAT	3.23	4.66	2.47	13.11	7.51	-4.99	-6.43	7.50	4.52	3.22	2.89
Altman Z-Score	2.55	2.59	2.52	2.26	2.53	1.53	1.83	2.29	2.59	3.03	3.06
Noncontrolling Interest Sharing Ratio	0.47%	0.30%	0.13%	0.10%	0.09%	0.10%	0.10%	0.08%	0.06%	0.04%	0.06%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.77	1.77	1.99	1.80	1.78	2.25	1.85	1.89	1.68	1.45	1.53
Quick Ratio	1.10	1.11	1.20	0.87	0.99	1.46	1.11	1.06	0.90	0.83	0.88
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	149	74	-555	-431	84	-52	277	116	-12	325	283
Operating Cash Flow to CapEx	163.30%	195.71%	287.32%	139.51%	268.66%	339.97%	689.00%	216.75%	143.81%	234.74%	287.07%
Free Cash Flow to Firm to Interest Expense	7.94	4.17	-25.87	-9.20	1.51	-1.06	6.53	2.61	-0.24	6.61	6.12
Operating Cash Flow to Interest Expense	27.98	23.50	16.46	7.41	9.14	9.13	7.57	6.60	10.39	15.40	14.47
Operating Cash Flow Less CapEx to Interest Expense	10.85	11.49	10.73	2.10	5.74	6.44	6.47	3.55	3.16	8.84	9.43
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.52	0.42	0.47	0.54	0.48	0.36	0.40	0.51	0.55	0.56	0.57
Accounts Receivable Turnover	4.64	4.51	4.66	5.50	5.65	4.01	3.85	4.78	5.25	5.86	6.23
Inventory Turnover	7.23	6.08	6.22	5.26	4.73	4.57	5.16	5.20	4.76	5.19	5.60
Fixed Asset Turnover	0.80	0.62	0.75	0.91	0.78	0.56	0.59	0.76	0.83	0.83	0.83
Accounts Payable Turnover	7.68	8.41	8.74	8.65	8.37	8.18	9.14	8.64	7.97	8.45	9.43
Days Sales Outstanding (DSO)	78.72	81.00	78.37	66.37	64.63	91.07	94.89	76.41	69.46	62.33	58.58
Days Inventory Outstanding (DIO)	50.48	60.03	58.70	69.44	77.21	79.86	70.77	70.24	76.69	70.36	65.20
Days Payable Outstanding (DPO)	47.53	43.39	41.77	42.19	43.59	44.61	39.92	42.25	45.82	43.19	38.70
Cash Conversion Cycle (CCC)	81.67	97.64	95.30	93.63	98.26	126.31	125.74	104.39	100.33	89.50	85.09
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,051	3,133	4,091	4,629	4,727	4,484	4,027	4,054	4,320	4,311	4,402
Invested Capital Turnover	0.71	0.57	0.61	0.68	0.61	0.47	0.53	0.69	0.74	0.76	0.77
Increase / (Decrease) in Invested Capital	91	81	958	539	98	-243	-458	27	266	-9.05	91
Enterprise Value (EV)	3,619	4,299	4,962	5,436	6,713	4,501	4,701	4,854	5,760	7,020	6,981
Market Capitalization	2,842	3,581	3,988	4,033	5,367	3,112	3,572	3,855	4,638	6,073	5,972
Book Value per Share	$42.01	$44.74	$52.11	$53.67	$56.19	$51.37	$48.02	$50.80	$53.90	$58.39	$62.37
Tangible Book Value per Share	$31.14	$32.01	$32.55	$34.00	$36.77	$39.27	$39.72	$42.62	$45.75	$50.15	$53.72
Total Capital	3,054	3,136	4,107	4,626	4,741	4,556	4,052	4,125	4,342	4,376	4,472
Total Debt	775	723	992	1,410	1,370	1,469	1,163	1,080	1,155	1,023	1,089
Total Long-Term Debt	775	723	992	1,410	1,370	1,469	1,161	1,076	1,147	1,015	1,082
Net Debt	767	715	970	1,400	1,343	1,386	1,126	997	1,120	946	1,007
Capital Expenditures (CapEx)	321	212	123	249	191	131	47	136	376	322	233
Debt-free, Cash-free Net Working Capital (DFCFNWC)	273	269	457	481	379	502	427	492	435	268	300
Debt-free Net Working Capital (DFNWC)	279	275	477	489	403	582	462	573	467	342	379
Net Working Capital (NWC)	279	275	477	489	403	582	460	570	459	334	371
Net Nonoperating Expense (NNE)	12	12	89	28	39	-23	66	21	31	29	19
Net Nonoperating Obligations (NNO)	772	720	977	1,413	1,356	1,397	1,138	1,009	1,133	958	1,019
Total Depreciation and Amortization (D&A)	216	222	225	246	244	250	247	230	240	273	294
Debt-free, Cash-free Net Working Capital to Revenue	12.71%	15.19%	20.62%	16.19%	13.34%	23.10%	19.02%	17.68%	14.07%	8.19%	8.92%
Debt-free Net Working Capital to Revenue	12.99%	15.51%	21.53%	16.45%	14.22%	26.80%	20.57%	20.57%	15.12%	10.47%	11.26%
Net Working Capital to Revenue	12.99%	15.51%	21.53%	16.45%	14.21%	26.80%	20.48%	20.45%	14.86%	10.22%	11.04%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.12	$2.63	$5.62	$1.31	$2.38	($4.55)	($4.11)	$2.04	$3.74	$4.95	$6.37
Adjusted Weighted Average Basic Shares Outstanding	53.81M	53.96M	59.67M	59.88M	59.98M	60.09M	60.20M	60.02M	58.52M	57.13M	53.65M
Adjusted Diluted Earnings per Share	$4.11	$2.62	$5.62	$1.31	$2.37	($4.55)	($4.11)	$2.03	$3.72	$4.91	$6.33
Adjusted Weighted Average Diluted Shares Outstanding	53.81M	53.96M	59.67M	59.88M	59.98M	60.09M	60.20M	60.02M	58.52M	57.13M	53.65M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	53.81M	53.96M	59.67M	59.88M	59.98M	60.09M	60.20M	60.02M	58.52M	57.13M	53.65M
Normalized Net Operating Profit after Tax (NOPAT)	239	155	143	165	203	98	54	137	250	358	371
Normalized NOPAT Margin	11.12%	8.76%	6.44%	5.57%	7.15%	4.53%	2.39%	4.93%	8.09%	10.97%	11.02%
Pre Tax Income Margin	16.84%	12.86%	3.30%	3.84%	6.69%	-21.25%	-12.93%	5.92%	9.51%	11.11%	14.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	20.28	13.84	4.39	3.44	4.39	-8.47	-5.84	4.70	6.66	8.38	11.18
NOPAT to Interest Expense	12.80	8.77	18.75	2.30	3.26	-6.04	-4.25	3.22	4.88	6.42	8.08
EBIT Less CapEx to Interest Expense	3.15	1.83	-1.34	-1.87	0.99	-11.15	-6.94	1.66	-0.57	1.82	6.14
NOPAT Less CapEx to Interest Expense	-4.33	-3.24	13.02	-3.01	-0.15	-8.73	-5.35	0.18	-2.34	-0.14	3.04
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	5.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	105.76%	7.19%	0.00%	0.98%	0.00%	0.00%	0.00%	18.65%	50.61%	60.85%	99.66%

This table displays calculated financial ratios and metrics derived from Kirby's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	53,646,000.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	53,646,000.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.51
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.54%	9.45%	7.67%	6.07%	8.68%	0.39%	-2.77%	3.77%	4.81%	6.16%	7.44%
EBITDA Growth	29.20%	30.21%	35.55%	29.98%	27.76%	-21.35%	6.45%	9.56%	5.35%	69.99%	4.46%
EBIT Growth	51.66%	51.13%	54.35%	39.54%	36.55%	-43.28%	5.81%	10.58%	3.77%	152.49%	3.67%
NOPAT Growth	58.92%	65.71%	69.64%	39.27%	35.03%	-28.99%	3.58%	9.90%	0.12%	91.63%	4.25%
Net Income Growth	60.54%	66.01%	72.12%	46.52%	42.90%	-30.65%	9.09%	12.38%	3.01%	114.18%	6.63%
EPS Growth	61.54%	67.74%	75.00%	50.53%	47.62%	-28.85%	11.76%	16.78%	6.45%	127.03%	12.78%
Operating Cash Flow Growth	46.90%	62.48%	648.11%	-15.20%	114.49%	14.53%	-70.36%	-47.62%	10.18%	26.20%	167.23%
Free Cash Flow Firm Growth	65.99%	-1,360.90%	147.55%	-843.21%	212.31%	130.23%	-543.70%	66.25%	-205.89%	-91.13%	201.33%
Invested Capital Growth	2.98%	6.57%	1.27%	8.02%	0.88%	-0.21%	4.20%	4.09%	3.68%	2.11%	-0.44%
Revenue Q/Q Growth	-1.61%	4.50%	1.11%	2.03%	0.82%	-3.47%	-2.08%	8.88%	1.84%	-2.23%	-0.90%
EBITDA Q/Q Growth	5.60%	1.17%	8.51%	12.12%	3.79%	-37.71%	46.86%	15.39%	-0.20%	0.50%	-9.76%
EBIT Q/Q Growth	7.39%	-0.58%	10.82%	17.93%	5.09%	-58.70%	106.73%	23.25%	-1.38%	0.48%	-15.12%
NOPAT Q/Q Growth	9.91%	-2.06%	9.69%	17.95%	6.56%	-48.50%	60.00%	25.16%	-2.92%	-1.43%	-12.96%
Net Income Q/Q Growth	9.92%	-1.65%	12.84%	20.12%	7.20%	-52.27%	77.50%	23.74%	-1.74%	-0.76%	-11.63%
EPS Q/Q Growth	10.53%	-0.95%	14.42%	20.17%	8.39%	-52.26%	79.73%	25.56%	-1.20%	1.82%	-10.71%
Operating Cash Flow Q/Q Growth	-54.47%	124.35%	-42.92%	45.45%	15.16%	19.80%	-85.23%	157.03%	142.26%	37.22%	-68.72%
Free Cash Flow Firm Q/Q Growth	-267.03%	-269.87%	112.42%	-1,123.46%	125.24%	-0.44%	-272.51%	22.14%	20.81%	108.34%	1,871.41%
Invested Capital Q/Q Growth	6.17%	-0.14%	0.68%	1.44%	-0.85%	-1.21%	4.88%	1.33%	-1.24%	-2.71%	2.26%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	30.63%	29.71%	31.85%	32.77%	33.58%	32.28%	34.79%	34.16%	33.37%	34.20%	33.83%
EBITDA Margin	20.34%	19.69%	21.14%	23.23%	23.91%	15.43%	23.14%	24.52%	24.03%	24.70%	22.50%
Operating Margin	12.23%	11.61%	12.56%	14.62%	15.27%	6.25%	13.43%	15.41%	14.83%	15.22%	12.76%
EBIT Margin	12.44%	11.83%	12.97%	14.99%	15.63%	6.69%	14.11%	15.97%	15.47%	15.90%	13.62%
Profit (Net Income) Margin	8.24%	7.75%	8.65%	10.19%	10.83%	5.36%	9.71%	11.03%	10.65%	10.80%	9.63%
Tax Burden Percent	77.09%	76.07%	76.29%	75.82%	76.70%	99.99%	76.01%	76.16%	75.43%	74.10%	77.67%
Interest Burden Percent	85.93%	86.13%	87.45%	89.63%	90.38%	80.12%	90.50%	90.68%	91.22%	91.71%	91.08%
Effective Tax Rate	22.91%	23.93%	23.71%	24.18%	23.30%	0.01%	23.99%	23.84%	24.57%	25.90%	22.33%
Return on Invested Capital (ROIC)	6.68%	6.52%	7.00%	8.36%	8.80%	4.73%	7.48%	8.56%	8.35%	8.71%	7.52%
ROIC Less NNEP Spread (ROIC-NNEP)	5.92%	5.72%	6.35%	7.66%	8.14%	4.04%	7.13%	8.04%	7.92%	8.30%	7.31%
Return on Net Nonoperating Assets (RNNOA)	2.31%	1.96%	2.34%	2.52%	2.81%	1.29%	2.52%	2.82%	2.64%	2.44%	2.47%
Return on Equity (ROE)	9.00%	8.49%	9.34%	10.88%	11.60%	6.02%	10.00%	11.37%	10.98%	11.15%	9.99%
Cash Return on Invested Capital (CROIC)	2.37%	-0.30%	5.37%	-0.36%	6.88%	7.52%	3.07%	3.28%	3.75%	6.50%	8.81%
Operating Return on Assets (OROA)	6.75%	6.49%	7.20%	8.38%	8.83%	3.77%	7.76%	8.76%	8.59%	9.02%	7.68%
Return on Assets (ROA)	4.47%	4.25%	4.80%	5.69%	6.12%	3.02%	5.34%	6.05%	5.91%	6.13%	5.44%
Return on Common Equity (ROCE)	8.99%	8.48%	9.34%	10.87%	11.60%	6.02%	10.00%	11.37%	10.98%	11.14%	9.98%
Return on Equity Simple (ROE_SIMPLE)	6.28%	0.00%	7.84%	8.55%	9.26%	0.00%	8.82%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	72	71	77	91	97	50	80	100	97	96	84
NOPAT Margin	9.43%	8.84%	9.59%	11.08%	11.71%	6.25%	10.21%	11.74%	11.19%	11.28%	9.91%
Net Nonoperating Expense Percent (NNEP)	0.76%	0.81%	0.65%	0.70%	0.66%	0.69%	0.34%	0.52%	0.43%	0.41%	0.20%
Return On Investment Capital (ROIC_SIMPLE)	-	1.63%	-	-	-	1.15%	1.75%	2.16%	2.13%	2.15%	1.83%
Cost of Revenue to Revenue	69.37%	70.29%	68.15%	67.23%	66.43%	67.72%	65.21%	65.84%	66.63%	65.80%	66.17%
SG&A Expenses to Revenue	10.35%	10.55%	11.16%	9.75%	10.12%	10.27%	12.13%	10.04%	10.08%	10.26%	12.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	18.40%	18.10%	19.28%	18.15%	18.30%	26.03%	21.35%	18.75%	18.53%	18.98%	21.08%
Earnings before Interest and Taxes (EBIT)	95	95	105	124	130	54	111	137	135	135	115
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	156	157	171	191	199	124	182	210	209	210	190
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.56	1.46	1.75	2.14	2.15	1.81	1.73	1.88	1.39	1.77	2.09
Price to Tangible Book Value (P/TBV)	1.84	1.72	2.06	2.51	2.51	2.11	2.02	2.18	1.61	2.05	2.42
Price to Revenue (P/Rev)	1.63	1.50	1.79	2.18	2.17	1.86	1.78	1.94	1.40	1.78	2.08
Price to Earnings (P/E)	24.84	20.81	22.33	25.04	23.18	21.18	19.72	20.99	15.24	16.84	19.81
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.03%	4.81%	4.48%	3.99%	4.31%	4.72%	5.07%	4.76%	6.56%	5.94%	5.05%
Enterprise Value to Invested Capital (EV/IC)	1.41	1.33	1.56	1.84	1.87	1.63	1.54	1.65	1.29	1.59	1.83
Enterprise Value to Revenue (EV/Rev)	2.02	1.86	2.15	2.54	2.50	2.15	2.15	2.31	1.76	2.08	2.40
Enterprise Value to EBITDA (EV/EBITDA)	11.09	9.82	10.71	12.03	11.35	10.25	10.01	10.58	8.03	8.60	10.03
Enterprise Value to EBIT (EV/EBIT)	19.40	16.64	17.64	19.42	18.00	17.04	16.66	17.53	13.35	13.48	15.74
Enterprise Value to NOPAT (EV/NOPAT)	26.98	22.68	23.64	26.07	24.20	22.24	21.89	23.09	17.79	18.66	21.76
Enterprise Value to Operating Cash Flow (EV/OCF)	13.33	10.66	10.44	13.21	11.24	9.28	10.40	12.93	9.61	10.42	11.23
Enterprise Value to Free Cash Flow (EV/FCFF)	60.40	0.00	29.21	0.00	27.27	21.62	51.25	51.29	34.89	24.64	20.67
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.38	0.36	0.37	0.37	0.34	0.31	0.37	0.37	0.36	0.32	0.33
Long-Term Debt to Equity	0.38	0.36	0.37	0.36	0.34	0.30	0.37	0.37	0.36	0.32	0.33
Financial Leverage	0.39	0.34	0.37	0.33	0.34	0.32	0.35	0.35	0.33	0.29	0.34
Leverage Ratio	1.82	1.81	1.80	1.79	1.79	1.77	1.80	1.80	1.79	1.76	1.80
Compound Leverage Factor	1.56	1.56	1.58	1.61	1.62	1.42	1.63	1.63	1.63	1.61	1.64
Debt to Total Capital	27.70%	26.61%	27.13%	26.76%	25.44%	23.38%	27.22%	27.10%	26.43%	24.35%	25.06%
Short-Term Debt to Total Capital	0.22%	0.19%	0.20%	0.20%	0.18%	0.19%	0.16%	0.14%	0.16%	0.16%	0.13%
Long-Term Debt to Total Capital	27.48%	26.42%	26.93%	26.56%	25.26%	23.19%	27.06%	26.96%	26.27%	24.19%	24.93%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.03%	0.03%	0.02%	0.03%	0.03%	0.03%	0.04%	0.04%	0.05%	0.05%	0.05%
Common Equity to Total Capital	72.27%	73.36%	72.85%	73.21%	74.53%	76.59%	72.74%	72.87%	73.53%	75.59%	74.88%
Debt to EBITDA	2.20	1.97	1.90	1.77	1.57	1.49	1.79	1.76	1.67	1.34	1.39
Net Debt to EBITDA	2.12	1.91	1.78	1.69	1.48	1.38	1.72	1.67	1.60	1.24	1.32
Long-Term Debt to EBITDA	2.18	1.96	1.88	1.75	1.56	1.48	1.78	1.76	1.66	1.33	1.39
Debt to NOPAT	5.36	4.55	4.19	3.83	3.35	3.24	3.91	3.85	3.69	2.91	3.03
Net Debt to NOPAT	5.17	4.41	3.93	3.66	3.15	3.00	3.75	3.64	3.55	2.69	2.87
Long-Term Debt to NOPAT	5.31	4.52	4.16	3.80	3.32	3.22	3.89	3.83	3.67	2.89	3.01
Altman Z-Score	2.52	2.45	2.70	3.00	3.08	2.83	2.68	2.86	2.50	2.85	3.07
Noncontrolling Interest Sharing Ratio	0.06%	0.06%	0.05%	0.05%	0.04%	0.04%	0.04%	0.05%	0.05%	0.06%	0.06%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.88	1.68	1.81	1.70	1.67	1.45	1.58	1.74	1.70	1.53	1.59
Quick Ratio	0.96	0.90	1.02	0.95	0.94	0.83	0.87	1.02	0.98	0.88	0.92
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-53	-196	23	-236	59	59	-102	-79	-63	5.25	103
Operating Cash Flow to CapEx	94.02%	176.28%	156.79%	218.90%	288.39%	274.55%	46.49%	156.60%	450.32%	703.84%	214.39%
Free Cash Flow to Firm to Interest Expense	-3.95	-14.93	1.75	-18.37	4.76	5.55	-9.69	-6.24	-5.32	0.47	10.09
Operating Cash Flow to Interest Expense	7.19	16.47	9.37	13.99	16.52	23.20	3.47	7.38	19.22	27.82	9.53
Operating Cash Flow Less CapEx to Interest Expense	-0.46	7.13	3.40	7.60	10.79	14.75	-3.99	2.67	14.95	23.87	5.08
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.54	0.55	0.55	0.56	0.56	0.56	0.55	0.55	0.56	0.57	0.56
Accounts Receivable Turnover	5.10	5.25	5.16	5.52	5.63	5.86	5.70	5.35	5.48	6.23	5.92
Inventory Turnover	4.79	4.76	4.75	4.63	4.72	5.19	4.91	4.98	5.13	5.60	5.31
Fixed Asset Turnover	0.81	0.83	0.83	0.83	0.84	0.83	0.81	0.81	0.82	0.83	0.82
Accounts Payable Turnover	8.62	7.97	8.29	8.04	8.75	8.45	8.29	8.40	9.33	9.43	8.45
Days Sales Outstanding (DSO)	71.52	69.46	70.76	66.09	64.83	62.33	64.07	68.23	66.65	58.58	61.69
Days Inventory Outstanding (DIO)	76.13	76.69	76.87	78.89	77.29	70.36	74.41	73.27	71.20	65.20	68.78
Days Payable Outstanding (DPO)	42.37	45.82	44.03	45.38	41.70	43.19	44.05	43.45	39.13	38.70	43.17
Cash Conversion Cycle (CCC)	105.28	100.33	103.61	99.61	100.42	89.50	94.43	98.05	98.72	85.09	87.30
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,326	4,320	4,339	4,401	4,364	4,311	4,521	4,581	4,524	4,402	4,501
Invested Capital Turnover	0.71	0.74	0.73	0.75	0.75	0.76	0.73	0.73	0.75	0.77	0.76
Increase / (Decrease) in Invested Capital	125	266	54	327	38	-9.05	182	180	160	91	-20
Enterprise Value (EV)	6,096	5,760	6,757	8,120	8,150	7,020	6,966	7,556	5,820	6,981	8,216
Market Capitalization	4,927	4,638	5,633	6,980	7,089	6,073	5,770	6,362	4,657	5,972	7,128
Book Value per Share	$53.06	$53.90	$55.16	$55.94	$57.04	$58.39	$58.22	$60.39	$60.24	$62.37	$63.64
Tangible Book Value per Share	$44.93	$45.75	$46.93	$47.75	$48.83	$50.15	$49.98	$51.98	$51.82	$53.72	$54.94
Total Capital	4,368	4,342	4,414	4,455	4,431	4,376	4,572	4,650	4,571	4,472	4,559
Total Debt	1,210	1,155	1,197	1,192	1,127	1,023	1,245	1,260	1,208	1,089	1,143
Total Long-Term Debt	1,200	1,147	1,189	1,183	1,119	1,015	1,237	1,253	1,201	1,082	1,137
Net Debt	1,168	1,120	1,122	1,139	1,060	946	1,194	1,191	1,161	1,007	1,085
Capital Expenditures (CapEx)	102	123	79	82	72	90	79	60	51	44	46
Debt-free, Cash-free Net Working Capital (DFCFNWC)	527	435	459	437	407	268	360	444	436	300	373
Debt-free Net Working Capital (DFNWC)	569	467	534	491	475	342	411	512	483	379	431
Net Working Capital (NWC)	560	459	525	482	466	334	404	506	476	371	425
Net Nonoperating Expense (NNE)	9.09	8.65	7.54	7.38	7.32	7.17	3.95	6.03	4.74	4.05	2.31
Net Nonoperating Obligations (NNO)	1,168	1,133	1,122	1,139	1,060	958	1,194	1,191	1,161	1,019	1,085
Total Depreciation and Amortization (D&A)	60	63	66	68	69	70	71	73	75	75	75
Debt-free, Cash-free Net Working Capital to Revenue	17.44%	14.07%	14.56%	13.69%	12.49%	8.19%	11.10%	13.55%	13.16%	8.92%	10.89%
Debt-free Net Working Capital to Revenue	18.84%	15.12%	16.95%	15.36%	14.54%	10.47%	12.67%	15.64%	14.58%	11.26%	12.59%
Net Working Capital to Revenue	18.52%	14.86%	16.67%	15.08%	14.29%	10.22%	12.45%	15.44%	14.36%	11.04%	12.41%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.06	$1.04	$1.20	$1.44	$1.56	$0.75	$1.33	$1.68	$1.66	$1.70	$1.51
Adjusted Weighted Average Basic Shares Outstanding	59.10M	58.52M	58.30M	57.90M	57.40M	57.13M	56.10M	55.80M	54.20M	53.65M	53.50M
Adjusted Diluted Earnings per Share	$1.05	$1.04	$1.19	$1.43	$1.55	$0.74	$1.33	$1.67	$1.65	$1.68	$1.50
Adjusted Weighted Average Diluted Shares Outstanding	59.10M	58.52M	58.30M	57.90M	57.40M	57.13M	56.10M	55.80M	54.20M	53.65M	53.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	59.10M	58.52M	58.30M	57.90M	57.40M	57.13M	56.10M	55.80M	54.20M	53.65M	53.50M
Normalized Net Operating Profit after Tax (NOPAT)	71	70	77	91	96	50	80	99	95	96	83
Normalized NOPAT Margin	9.27%	8.76%	9.58%	11.03%	11.56%	6.25%	10.20%	11.59%	10.93%	11.28%	9.77%
Pre Tax Income Margin	10.69%	10.19%	11.34%	13.44%	14.12%	5.36%	12.77%	14.49%	14.11%	14.58%	12.40%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.11	7.21	7.97	9.64	10.39	5.03	10.52	10.74	11.39	12.07	11.22
NOPAT to Interest Expense	5.39	5.38	5.89	7.13	7.79	4.70	7.61	7.89	8.23	8.56	8.16
EBIT Less CapEx to Interest Expense	-0.54	-2.13	1.99	3.25	4.66	-3.42	3.06	6.02	7.12	8.12	6.77
NOPAT Less CapEx to Interest Expense	-2.26	-3.96	-0.09	0.74	2.06	-3.75	0.15	3.18	3.97	4.61	3.72
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	30.72%	50.61%	60.03%	57.62%	63.15%	60.85%	79.88%	73.04%	93.34%	99.66%	84.72%

Financials Breakdown Chart

Key Financial Trends

Kirby (NYSE: KEX) has shown a relatively stable topline with modest margins and steady cash generation across its 2023–2025 quarterly data sets. Over the last four years, revenue has hovered in the mid‑to upper‑$0.7B range, with 2025 readings nudging higher relative to 2024. Profitability has remained solid, and cash from operations has been a reliable positive contributor, supporting ongoing fleet investments and periodic share repurchases. The balance sheet remains strongly capitalized with a meaningful equity base and manageable long‑term debt load, though cash balances have fluctuated modestly quarter to quarter given capital returns and financing activity.

Steady revenue with a modest uptrend in 2025: Operating and total revenues trended around $0.75B–$0.87B, with 2025 quarters generally showing strength versus 2024—supporting ongoing earnings stability.
Consistent gross margins in the low‑30s to mid‑30s: Total gross profit margins have generally run in the 33%–35% band across the latest quarters, indicating stable cost discipline relative to revenue.
Healthy operating income in late 2025: Total operating income in Q4 2025 was about $129M, aligning with a mid‑teens operating margin against current revenue levels.
Solid quarterly net income to common shareholders: Net income attributable to common shareholders hovered near $90M+ in 2025 quarters, signaling ongoing profitability at the bottom line.
Strong cash flow from operations, with improving trajectory in 2025: Net cash from continuing operating activities was robust in Q4 2025 (around $312M) and improved sequentially through the year, supporting capital returns and fleet investments.
Liquidity and balance sheet foundation: Cash and equivalents have ranged roughly from $47M–$68M in recent quarters, with total assets around $6.0B and total equity near $3.1–3.3B, providing a solid base for ongoing operations and investments.
Leverage level remains meaningful but contained: Long‑term debt sits in the $1.0B–$1.2B range across 2024–2025, with interest expense in the low‑to‑mid double digits per quarter, indicating a manageable but nontrivial debt load relative to cash flow.
Capital allocation includes share repurchases: Kirby has continued to repurchase common equity in multiple quarters, reflecting management’s capital‑return stance and potential impact on per‑share metrics.
Financing cash outflows have weighed on cash in some periods: Net cash from financing activities has been negative in several quarters due to buybacks and debt activity, which compresses cash on hand if operating momentum slows.
Near‑term cash balance can drift with fleet investments and outlays: Ongoing capital expenditures on fleet and equipment (PPE purchases) reduce cash in the near term, even though they are intended to support longer‑term growth and asset productivity.

05/22/26 02:31 AM ETAI Generated. May Contain Errors.

Kirby Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Kirby's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Kirby's net income appears to be on an upward trend, with a most recent value of $355.42 million in 2025, rising from $227.97 million in 2015. The previous period was $286.90 million in 2024. View Kirby's forecast to see where analysts expect Kirby to go next.

Kirby's total operating income in 2025 was $496.28 million, based on the following breakdown:

Total Gross Profit: $1.15 billion
Total Operating Expenses: $651.27 million

Over the last 10 years, Kirby's total revenue changed from $2.15 billion in 2015 to $3.36 billion in 2025, a change of 56.6%.

Kirby's total liabilities were at $2.63 billion at the end of 2025, a 5.1% increase from 2024, and a 40.2% increase since 2015.

In the past 10 years, Kirby's cash and equivalents has ranged from $5.63 million in 2016 to $80.58 million in 2022, and is currently $78.78 million as of their latest financial filing in 2025.

Over the last 10 years, Kirby's book value per share changed from 42.01 in 2015 to 62.37 in 2025, a change of 48.5%.

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Financial statements for NYSE:KEX last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Kirby (KEX) Financials

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When does Kirby's fiscal year end?

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How has Kirby's revenue changed over the last 10 years?

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