Loading financials from SEC filings…
Marine shipping · Industrials · Fiscal year ends Dec 31
KIRBY reported revenue of $3.4B in the fiscal year ended Dec 2025, up 3.0% from the year before. Operating income was $496M, an operating margin of 14.8%, and net income was $355M. Operating cash flow of $670M less capital expenditure of $264M left free cash flow of $406M. Net debt was $833M.
Ranks among the 17 marine shipping companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 2,247 | 2,785 | 3,092 | 3,266 | 3,364 |
| Selling, general & admin | 267 | 303 | 335 | 337 | 356 |
| Operating income | −258 | 193 | 335 | 399 | 496 |
| Interest expense | 42.5 | 44.6 | 52.0 | 49.1 | 46.3 |
| Pre-tax income | −291 | 165 | 294 | 363 | 471 |
| Income tax | −43.8 | 42.2 | 71.2 | 75.9 | 116 |
| Net income | −247 | 122 | 223 | 287 | 355 |
| Diluted EPS | −4.11 | 2.03 | 3.72 | 4.91 | 6.33 |
| Diluted shares | 60.1 | 60.3 | 59.9 | 58.4 | 56.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 34.8 | 80.6 | 32.6 | 74.4 | 78.8 |
| Receivables | 418 | 483 | 527 | 490 | 473 |
| Inventory | 331 | 462 | 454 | 394 | 398 |
| Current assets | 1,004 | 1,212 | 1,135 | 1,069 | 1,078 |
| Net PP&E | 3,679 | 3,633 | 3,861 | 4,023 | 4,098 |
| Goodwill | 439 | 439 | 439 | 439 | 439 |
| Total assets | 5,399 | 5,555 | 5,722 | 5,852 | 6,008 |
| Payables | 199 | 278 | 269 | 251 | 219 |
| Deferred revenue | 72.8 | 119 | 135 | 177 | 202 |
| Current liabilities | 544 | 642 | 676 | 735 | 707 |
| Long-term debt | 1,161 | 1,076 | 1,009 | 867 | 912 |
| Total liabilities | 2,510 | 2,510 | 2,536 | 2,499 | 2,625 |
| Shareholders' equity | 2,886 | 3,043 | 3,185 | 3,352 | 3,381 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 322 | 294 | 540 | 756 | 670 |
| Capital expenditure | 98.0 | 173 | 402 | 343 | 264 |
| Free cash flow | 224 | 122 | 138 | 414 | 406 |
| Depreciation & amortisation | 214 | 201 | 211 | 240 | 264 |
| Stock-based compensation | 15.7 | 13.9 | 14.9 | 15.5 | 17.6 |
| Acquisitions | 9.1 | 3.9 | 37.5 | 77.9 | 116 |
| Share buybacks | 0.0 | 22.9 | 113 | 175 | 354 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 24.0% | 11.0% | 5.6% | 3.0% |
| Operating income growth (YoY) | – | – | 73.7% | 19.1% | 24.4% |
| EPS growth (YoY) | – | – | 83.3% | 32.0% | 28.9% |
| Operating margin | −11.5% | 6.9% | 10.8% | 12.2% | 14.8% |
| Net margin | −11.0% | 4.4% | 7.2% | 8.8% | 10.5% |
| Return on equityBlank when equity is negative | −8.6% | 4.0% | 7.0% | 8.6% | 10.5% |
| ROCEEBIT ÷ (assets − current liabilities) | −5.3% | 3.9% | 6.6% | 7.8% | 9.4% |
| Free cash flow margin | 10.0% | 4.4% | 4.5% | 12.7% | 12.1% |
| Cash conversion (CFO ÷ net income) | −1.30x | 2.41x | 2.42x | 2.64x | 1.89x |
| Receivable days | 68 | 63 | 62 | 55 | 51 |
| Interest cover | −6.08x | 4.33x | 6.44x | 8.12x | 10.7x |
| Debt ÷ equity | 0.40x | 0.35x | 0.32x | 0.26x | 0.27x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 1,127 | 996 | 976 | 792 | 833 |
| Current ratio | 1.85x | 1.89x | 1.68x | 1.45x | 1.53x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.