📊 KEX Key Takeaways
Is KEX a Good Investment? Thesis Analysis
Kirby Corp exhibits strong free cash flow generation ($405.7M) and conservative leverage (0.27x Debt/Equity), but net income growth stalled at 0.0% YoY despite 3% revenue growth, indicating operational margin pressure. The company's solid financial foundation and robust interest coverage (10.7x) provide stability, yet subdued top-line growth and profitability stagnation limit upside potential in the cyclical water transportation sector.
Why Buy KEX? Key Strengths
- Exceptional free cash flow generation at $405.7M with 12.1% FCF margin demonstrates strong cash generation capability
- Low leverage ratio (0.27x Debt/Equity) and strong interest coverage (10.7x) provide substantial financial flexibility and debt service safety
- Operating cash flow of $670.2M substantially exceeds net income, indicating quality earnings and cash conversion strength
- Solid operating margin of 14.8% shows reasonable operational efficiency
KEX Investment Risks to Consider
- Net income stagnation (0.0% YoY) despite 3% revenue growth signals margin compression and operational headwinds
- Low cash position ($78.8M) relative to $919.3M long-term debt and $6.0B asset base limits strategic flexibility
- Quick ratio of 0.96x indicates potential near-term liquidity constraints if cash demands spike
- Modest revenue growth (3% YoY) in mature cyclical industry suggests limited organic expansion opportunities
- High insider activity (34 Form 4 filings in 90 days) creates uncertainty around management confidence
Key Metrics to Watch
- Net income trend and operating margin trajectory to determine if profitability stagnation reverses
- Cash balance growth and working capital management to address liquidity concerns
- Revenue growth acceleration and guidance for industry demand visibility in water transportation sector
- Capital expenditure efficiency and returns to ensure capex investments generate adequate returns
- Free cash flow sustainability and dividend coverage given leverage position
KEX Financial Metrics
💡 AI Analyst Insight
KIRBY CORP presents a mixed fundamental picture. Review the detailed metrics above to form your own investment thesis.
KEX Profitability Ratios
KEX vs Default Sector
How KIRBY CORP compares to Default sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is KEX Overvalued or Undervalued?
Based on fundamental analysis, KIRBY CORP has mixed fundamental signals relative to the Default sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
KEX Balance Sheet & Liquidity
KEX 5-Year Financial Trend & Growth Analysis
5-Year Trend Summary: KIRBY CORP's revenue has grown significantly by 19% over the 5-year period, indicating strong business expansion. The most recent EPS of $3.72 reflects profitable operations.
KEX Growth Metrics (YoY)
KEX Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $831.1M | $90.0M | $1.55 |
| Q2 2025 | $824.4M | $83.9M | $1.43 |
| Q1 2025 | $785.7M | $70.1M | $1.19 |
| Q3 2024 | $764.8M | $63.0M | $1.05 |
| Q2 2024 | $777.2M | $57.4M | $0.95 |
| Q1 2024 | $750.4M | $40.7M | $0.68 |
| Q3 2023 | $745.8M | $39.1M | $0.65 |
| Q2 2023 | $698.0M | $28.5M | $0.47 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
KEX Capital Allocation
KEX SEC 10-K & 10-Q Filing Analysis
Access official SEC EDGAR filings for KIRBY CORP (CIK: 0000056047)
📋 Recent SEC Filings
❓ Frequently Asked Questions about KEX
What is the AI rating for KEX?
KIRBY CORP (KEX) has an AI rating of HOLD with 72% confidence, based on fundamental analysis of SEC EDGAR filings.
What are KEX's key strengths?
Claude: Exceptional free cash flow generation at $405.7M with 12.1% FCF margin demonstrates strong cash generation capability. Low leverage ratio (0.27x Debt/Equity) and strong interest coverage (10.7x) provide substantial financial flexibility and debt service safety.
What are the risks of investing in KEX?
Claude: Net income stagnation (0.0% YoY) despite 3% revenue growth signals margin compression and operational headwinds. Low cash position ($78.8M) relative to $919.3M long-term debt and $6.0B asset base limits strategic flexibility.
What is KEX's revenue and growth?
KIRBY CORP reported revenue of $3.4B.
Does KEX pay dividends?
KIRBY CORP does not currently pay dividends.
Where can I find KEX SEC filings?
Official SEC filings for KIRBY CORP (CIK: 0000056047) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is KEX's EPS?
KIRBY CORP has a diluted EPS of $6.33.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is KEX a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, KIRBY CORP has a HOLD rating with 72% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is KEX stock overvalued or undervalued?
Valuation metrics for KEX: ROE of 10.5% (sector avg: 15%), net margin of 10.5% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
Should I buy KEX stock in 2026?
Our dual AI analysis gives KIRBY CORP a combined HOLD rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is KEX's free cash flow?
KIRBY CORP's operating cash flow is $670.2M, with capital expenditures of $264.5M. FCF margin is 12.1%.
How does KEX compare to other Default stocks?
Vs Default sector averages: Net margin 10.5% (avg: 12%), ROE 10.5% (avg: 15%), current ratio 1.53 (avg: 1.8).