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Kirby

KEX NYSE Marine Transportation Financials FY2016–FY2025

Kirby's revenue rose 3.0% to $3.4 billion in fiscal 2025. Its operating margin was 14.8%, up from 12.2% a year earlier. Free cash flow was $406 million, down 2.0%. It paid out $354 million in dividends and buybacks, 87% of free cash flow. The diluted share count fell 4.0%.

Last close · Oct 23, 2026

$133.15

1.3%
Value it Compare
Revenue Total sales reported in the income statement.
$3.4B
3.0% vs prior year
Operating margin Operating income as a share of revenue.
14.8%
2.5 pts
Net income Profit after all expenses, interest and tax.
$355M
23.7%
Free cash flow Cash from operations minus capital spending.
$406M
2.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
8.9%
1.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$7.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
20.5x
On $6.51 EPS (TTM)

What Kirby does

No business description yet.

Legal name
KIRBY CORPORATION
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001193125-26-054016
0000056047

Revenue and margins

Kirby had $3.4B of revenue in fiscal 2025, up 3.0% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 10.3% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $406M in fiscal 2025, 12.1% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Kirby returned $354M to shareholders in fiscal 2025, 87% of free cash flow. The diluted share count fell 4.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Kirby yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$841M and divides by 56.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 20.5x · peers 12.4x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Kirby can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $34.8M$80.6M$32.6M$74.4M$78.8M
Debt incl. finance leases $1.2B$1.1B$1.0B$875M$919M
Net debt / EBITDA —2.5x1.8x1.3x1.1x
Debt / equity 0.4x0.4x0.3x0.3x0.3x
Interest coverage −6.1x4.3x6.4x8.1x10.7x
Current ratio 1.9x1.9x1.7x1.5x1.5x
Quick ratio 1.2x1.2x1.0x0.9x1.0x
Total assets $5.4B$5.6B$5.7B$5.9B$6.0B
Total liabilities $2.5B$2.5B$2.5B$2.5B$2.6B
Shareholders' equity $2.9B$3.0B$3.2B$3.4B$3.4B
Net debt (− = net cash) $1.1B$999M$984M$801M$841M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$12.9M

8 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
May 15, 2026 Amy D. HustedExec VP General Counsel & Sec Sold 4,000 $145.43 $0.6M Form 4
May 15, 2026 Christian G. O'NeilPresident and COO Sold 11,287 $145.93 $1.6M Form 4
May 15, 2026 William Matthew WoodruffVP of Public and Govt Affairs Sold 678 $147.37 $0.1M Form 4
May 4, 2026 Ronald A DraggVice President and Controller Sold 1,726 $145.01 $0.3M Form 4
Mar 2, 2026 Christian G. O'NeilPresident and COO Sold 11,287 $132.34 $1.5M Form 4
Mar 2, 2026 Raj KumarExec VP and CFO Sold 3,000 $132.70 $0.4M Form 4
Feb 24, 2026 David W GrzebinskiCEO, Director Sold 34,152 $130.05 $4.4M Form 4
Feb 20, 2026 Amy D. HustedExec VP General Counsel & Sec Sold 11,667 $129.33 $1.5M Form 4
Feb 19, 2026 Barry E DavisDirector Sold 8,480 $128.51 $1.1M Form 4
Feb 10, 2026 Scott P MillerVP - CIO Sold 3,960 $120.68 $0.5M Form 4
Feb 9, 2026 William Matthew WoodruffVP of Public and Govt Affairs Sold 2,000 $121.88 $0.2M Form 4
Feb 4, 2026 Ronald A DraggVice President and Controller Sold 5,429 $122.00 $0.7M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose ✕ ✕ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✓ ✓ ✓
F-score 7 / 87 / 87 / 8
Accruals ratio −5.6%−8.1%−5.3%
Altman Z'' 3.773.904.12

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Kirby KEX $7.2B 3.0% 14.8% 12.1% 8.9% 20.5x 7
Matson MATX $6.9B −2.3% 14.9% 4.6% 14.3% 15.4x 5 Compare →
ZIM Integrated Shipping ZIM $3.5B −18.1% 14.7% 30.2% 24.9% — 4 Compare →
Grab GRAB $11.7B 20.5% 1.9% −0.5% 0.9% — 5 Compare →
IES IESC $4.3B 16.9% 11.4% 6.5% 50.5% 9.5x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.8B $2.2B $3.0B $2.8B $2.2B $2.2B $2.8B $3.1B $3.3B $3.4B
Operating income $247M $93.6M $155M $242M −$421M −$258M $193M $335M $399M $496M
Interest expense $17.7M $21.5M $46.9M $56.0M $48.7M $42.5M $44.6M $52.0M $49.1M $46.3M
Pretax income $228M $73.0M $114M $190M −$461M −$291M $165M $294M $363M $471M
Income tax $84.9M −$241M $35.1M $46.8M −$190M −$43.8M $42.2M $71.2M $75.9M $116M
Net income $141M $313M $78.5M $142M −$273M −$247M $122M $223M $287M $355M
Diluted EPS $2.62 $5.62 $1.31 $2.37 −$4.55 −$4.11 $2.03 $3.72 $4.91 $6.33
Diluted shares 0.05B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B
Cash flow
Cash from operations $416M $353M $347M $512M $445M $322M $294M $540M $757M $670M
Capital expenditure $231M $177M $302M $248M $148M $98.0M $173M $402M $343M $265M
Free cash flow $185M $176M $45.1M $264M $297M $224M $122M $139M $414M $406M
Depreciation and amortization $201M $203M $225M $220M $220M $214M $201M $211M $240M $264M
Stock-based compensation $11.7M $11.5M $19.1M $13.6M $14.7M $15.7M $13.9M $14.9M $15.5M $17.6M
Acquisitions $137M $470M $534M $263M $355M $9.1M $3.9M $37.5M $77.9M $116M
Share buybacks $1.8M $0.0M $0.8M $0.0M $0.0M $0.0M $22.9M $113M $175M $354M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $1.8M $0.0M $0.8M $0.0M $0.0M $0.0M $22.9M $113M $175M $354M
Balance sheet
Cash and short-term investments $5.6M $20.1M $7.8M $24.7M $80.3M $34.8M $80.6M $32.6M $74.4M $78.8M
Total debt $723M $992M $1.4B $1.4B $1.5B $1.2B $1.1B $1.0B $875M $919M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $633M $957M $1.1B $918M $1.0B $1.0B $1.2B $1.1B $1.1B $1.1B
Current liabilities $358M $480M $608M $514M $466M $544M $642M $676M $735M $707M
Inventory $185M $316M $507M $351M $310M $331M $462M $454M $394M $398M
Property and equipment, net $2.9B $3.0B $3.5B $3.8B $3.9B $3.7B $3.6B $3.9B $4.0B $4.1B
Total assets $4.3B $5.1B $5.9B $6.1B $5.9B $5.4B $5.6B $5.7B $5.9B $6.0B
Total liabilities $1.9B $2.0B $2.7B $2.7B $2.8B $2.5B $2.5B $2.5B $2.5B $2.6B
Shareholders' equity $2.4B $3.1B $3.2B $3.4B $3.1B $2.9B $3.0B $3.2B $3.4B $3.4B
Margins
Operating margin 14.0% 4.2% 5.2% 8.5% −19.4% −11.5% 6.9% 10.8% 12.2% 14.8%
EBITDA margin 25.3% 13.4% 12.8% 16.3% −9.3% −2.0% 14.2% 17.7% 19.6% 22.6%
Net margin 8.0% 14.1% 2.6% 5.0% −12.6% −11.0% 4.4% 7.2% 8.8% 10.5%
FCF margin 10.4% 8.0% 1.5% 9.3% 13.7% 10.0% 4.4% 4.5% 12.7% 12.1%
Returns
Return on capital 5.0% 2.6% 2.5% 3.9% −7.2% −4.8% 3.6% 6.2% 7.6% 8.9%
Return on capital employed 6.4% 2.2% 3.1% 4.5% −7.6% −5.0% 4.0% 6.7% 7.9% 9.5%
Return on equity 6.1% 11.4% 2.5% 4.3% −8.5% −8.3% 4.1% 7.2% 8.8% 10.5%
Return on assets 3.4% 6.7% 1.4% 2.4% −4.5% −4.4% 2.2% 4.0% 5.0% 6.0%
Growth
Revenue growth −17.6% 25.1% 34.2% −4.5% −23.5% 3.5% 24.0% 11.0% 5.6% 3.0%
Net income growth −37.6% 121.5% −75.0% 81.4% −291.5% — — 82.3% 28.6% 23.7%
EPS growth −36.3% 114.5% −76.7% 80.9% −292.0% — — 83.3% 32.0% 28.9%
FCF growth 3.3% −4.6% −74.4% 484.1% 12.6% −24.7% −45.6% 14.0% 198.8% −2.0%
Share count change −2.4% 3.5% 7.8% 0.4% 0.0% 0.2% 0.5% −0.8% −2.5% −4.0%
Financial health
Net debt / EBITDA 1.6x 3.3x 3.7x 2.9x — — 2.5x 1.8x 1.3x 1.1x
Debt / equity 0.3x 0.3x 0.4x 0.4x 0.5x 0.4x 0.4x 0.3x 0.3x 0.3x
Interest coverage 14.0x 4.4x 3.3x 4.3x −8.6x −6.1x 4.3x 6.4x 8.1x 10.7x
Current ratio 1.8x 2.0x 1.8x 1.8x 2.3x 1.9x 1.9x 1.7x 1.5x 1.5x
Quick ratio 1.3x 1.3x 1.0x 1.1x 1.6x 1.2x 1.2x 1.0x 0.9x 1.0x
Capital allocation
Capex / revenue 13.1% 8.0% 10.2% 8.7% 6.8% 4.4% 6.2% 13.0% 10.5% 7.9%
Stock comp / revenue 0.7% 0.5% 0.6% 0.5% 0.7% 0.7% 0.5% 0.5% 0.5% 0.5%
Payouts / FCF 1.0% 0.0% 1.7% 0.0% 0.0% 0.0% 18.9% 81.5% 42.2% 87.3%
Quality scores
Piotroski F-score 5.0 6.0 4.0 5.0 3.0 5.0 7.0 7.0 7.0 7.0
Altman Z'' 3.9 4.0 3.5 3.6 2.7 2.9 3.6 3.8 3.9 4.1
Accruals ratio −6.5% −0.9% −4.9% −6.2% −12.0% −10.0% −3.1% −5.6% −8.1% −5.3%

Source: SEC EDGAR XBRL filings (CIK 0000056047). Data updated October 16, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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