KIRBY CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data KIRBY CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,771	2,214	2,971	2,838	2,171	2,247	2,785	3,092	3,266	3,364
Selling, general and administrative	175	220	304	277	258	267	303	335	337	356
Operating income	247	93.6	155	242	-421	-258	193	335	399	496
Interest expense	17.7	21.5	46.9	56	48.7	42.5	44.6	52	49.1	46.3
Other non-operating income	-0.29	-0.05	5.37	3.41
Pre-tax income	228	73	114	190	-461	-291	165	294	363	471
Income tax	84.9	-241	35.1	46.8	-190	-43.8	42.2	71.2	75.9	116
Net income to minority interests	1.4	0.72	0.63	0.67	0.95	0.18	0.47	-0.03	0.19	0.85
Net income	141	313	78.5	142	-273	-247	122	223	287	355
EBITDA	448	297	380	462	-201	-44.4	394	546	639	760
EPS, basic	2.63	5.62	1.31	2.38	-4.55	-4.11	2.04	3.74	4.95	6.37
EPS, diluted	2.62	5.62	1.31	2.37	-4.55	-4.11	2.03	3.72	4.91	6.33
Shares, basic (weighted)	53.5	55.3	59.6	0.06	59.9	60.1	60	59.5	57.9	55.7
Shares, diluted (weighted)	53.5	55.4	59.7	0.06	59.9	60.1	60.3	59.9	58.4	56

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	5.63	20.1	7.8	24.7	80.3	34.8	80.6	32.6	74.4	78.8
Receivables	297	452	418	379	315	418	483	527	490	473
Inventory	185	316	507	351	310	331	462	454	394	398
Other current assets		62.8	59.4	58.1	57.8	69.8	71.4	69.5	63.5	57.9
Total current assets	633	957	1,096	918	1,048	1,004	1,212	1,135	1,069	1,078
Property, plant and equipment	2,921	2,959	3,540	3,777	3,917	3,679	3,633	3,861	4,023	4,098
Lease right-of-use assets			0	160	174	168	155	152	159	193
Goodwill	598	935	954	954	658	439	439	439	439	439
Intangible assets	87.3	233	224	211	69	60.1	51.5	42.9	34.4	30.2
Other non-current assets	47.5	41.2	54.8	58.2	55.3	48	62.8	89.5	125	170
Total assets	4,290	5,127	5,872	6,079	5,924	5,399	5,555	5,722	5,852	6,008
Accounts payable	135	222	278	207	163	199	278	269	251	219
Accrued liabilities	184	210	247	236	225	236	205	229	237	233
Deferred revenue	36	48.3	80.1	43	45.4	72.8	119	135	177	202
Short-term debt	0	0
Total current liabilities	358	480	608	514	466	544	642	676	735	707
Long-term debt	723	992	1,410	1,370	1,469	1,161	1,076	1,009	867	912
Lease liabilities			0	139	163	160	142	139	148	170
Other non-current liabilities	90.4	72	94.6	96	132	71.3	23.2	15.8	9.59	10.6
Total liabilities	1,877	2,013	2,655	2,708	2,837	2,510	2,510	2,536	2,499	2,625
Total debt	723	992	1,410	1,370	1,469	1,163	1,080	1,017	875	919
Paid-in capital	432	803	823	836	845	855	859	864	869	873
Retained earnings	2,342	2,647	2,724	2,866	2,593	2,346	2,469	2,692	2,978	3,333
Treasury stock	-320	-313	-307	-302	-299	-295	-309	-412	-573	-919
Other comprehensive income	-51	-32.4	-33.5	-37.8	-61.5	-26	16.9	35	71.2	86.3
Shareholders' equity	2,409	3,111	3,213	3,369	3,084	2,886	3,043	3,185	3,352	3,381
Minority interests	3.55	3.4	3.11	2.97	3.25	2.46	2.29	1.25	1.44	2.28
Total equity	2,413	3,114	3,216	3,372	3,088	2,889	3,045	3,187	3,353	3,383
Total liabilities and equity	4,290	5,127	5,872	6,079	5,924	5,399	5,555	5,722	5,852	6,008

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	143	314	79.1	143	-272	-247	123	223	287	355
Depreciation and amortization	201	203	225	220	220	214	201	211	240	264
Stock-based compensation	11.7	11.5	19.1	13.6	14.7	15.7	13.9	14.9	15.5	17.6
Deferred income tax	51.3	-256	34.9	46.8	25.2	-44.4	37.8	65.3	31.4	82.5
Change in receivables	-12.8	-60.4	12.5	43.1	-125	29.1	-31.6	-50.1	40.5	16.6
Change in inventory	3.18	19.7	-145	123	47.1	-19.2	-127	7.69	12.1	3.89
Change in payables	-1.74	20.8	22.6	-57.4	-39.8	16	76	-18.3	-11.2	-18.6
Cash from operations	416	353	347	512	445	322	294	540	756	670
Capital expenditures	-231	-177	-302	-248	-148	-98	-173	-402	-343	-264
Acquisitions	-137	-470	-534	262	-355	-9.12	-3.9	-37.5	-77.9	-116
Cash from investing	-350	-593	-783	-453	-486	-55.8	-140	-413	-400	-352
Debt repaid	0	-13.7	0	-125	-150	-60	-395	-350	-100	0
Stock issued	0.32	3.04	13.3	5.74	0.35	0.63	3.89	4.21	9.42	4.95
Share buybacks	-1.83	0	-0.78	0	0	0	-22.9	-113	-175	-354
Cash from financing	-66.5	254	423	-41.9	96.5	-311	-109	-175	-315	-314
Net change in cash	-0.25	14.5	-12.3	16.9	55.6	-45.5	45.8	-48	41.9	4.33
Free cash flow	185	176	45.1	264	297	224	122	138	414	406
Interest paid	19.9	21.7	40.8	55.8	48.7	40.9	42.8	49.3	49.1	46.3
Income taxes paid	18.2	27.2	0.64	2.93	-35.6	-117	2.55	-65.8	19.6	84

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $128.88 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	14.0%	Operating income / revenue.
EBITDA margin	21.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	13.5%	Pre-tax income / revenue.
Net margin	10.2%	Net income / revenue.
FCF margin	13.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	20.3%	Cash from operations / revenue.
Effective tax rate	24.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	10.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.7%	Net income / average total assets.
Return on invested capital (ROIC)	8.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	10.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.7%	Capital expenditures / revenue.
D&A / revenue	7.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	6.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	24.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	37.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	18.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	24.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	23.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	42.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	28.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	46.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-11.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	31.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	8.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-2.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	49.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	6.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	0.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	3.6%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	1.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	2.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	0.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-4.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.68x	Current assets / current liabilities.
Quick ratio	0.92x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.05x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.30x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	16.7%	Total debt / total assets.
Liabilities / assets	44.6%	Total liabilities / total assets.
Net debt	$998.4M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.31x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	11.0x	Operating income / interest expense.
Working capital	$503.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	7.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$2.98B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.56x	Revenue / average total assets.
Fixed asset turnover	0.84x	Revenue / average property, plant and equipment.
Receivables turnover	5.44x	Revenue / average receivables.
Days sales outstanding	67 days	365 x average receivables / revenue.
FCF conversion	133.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	33.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$6.62	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$64.99	Revenue / diluted weighted shares.
FCF per share	$8.86	Free cash flow / diluted weighted shares.
Operating cash flow per share	$13.22	Cash from operations / diluted weighted shares.
Book value per share	$64.11	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$55.45	Tangible book value / shares outstanding.
Cash per share	$0.73	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	70.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$6.80B	Share price x shares outstanding.
Enterprise value	$7.80B	Market cap + total debt - cash - short-term investments.
P/E	19.2x	Market cap / net income. Only when net income is positive.
P/S	1.95x	Market cap / revenue.
P/B	1.98x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.29x	Market cap / tangible book value, when positive.
P/FCF	14.3x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.59x	Market cap / cash from operations, when positive.
EV/Sales	2.24x	Enterprise value / revenue.
EV/EBIT	16.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.2x	Enterprise value / EBITDA, when both are positive.
EV/FCF	16.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.0%	Free cash flow / market cap.
Earnings yield	5.2%	Net income / market cap (the inverse of P/E).
Shareholder yield	4.9%	(Dividends paid + share buybacks) / market cap.
PEG	0.42x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was KIRBY CORP's revenue in fiscal 2025?

KIRBY CORP reported revenue of $3.36B for fiscal 2025, 3% higher than the year before.

Was KIRBY CORP profitable in fiscal 2025?

Yes. Net income was $354.6M, a net margin of 10.5%.

How much free cash flow did KIRBY CORP generate in fiscal 2025?

Cash from operations of $670.2M minus capital expenditures of $264.5M left free cash flow of $405.7M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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