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KEX

KirbyNYSE:KEX Stock Report

Market Cap

US$3.4b

7D

4.0%

1Y

47.6%

Updated

23 Oct, 2021

Data

Company Financials +
KEX fundamental analysis
Snowflake Score
Valuation3/6
Future Growth3/6
Past Performance2/6
Financial Health2/6
Dividends0/6

KEX Overview

Kirby Corporation operates domestic tank barges in the United States.

Kirby Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Kirby
Historical stock prices
Current Share PriceUS$56.82
52 Week HighUS$35.76
52 Week LowUS$70.60
Beta1.5
1 Month Change11.63%
3 Month Change-4.04%
1 Year Change47.62%
3 Year Change-22.48%
5 Year Change-3.71%
Change since IPO1,145.37%

Recent News & Updates

Oct 12
Should You Think About Buying Kirby Corporation (NYSE:KEX) Now?

Should You Think About Buying Kirby Corporation (NYSE:KEX) Now?

Kirby Corporation ( NYSE:KEX ), is not the largest company out there, but it received a lot of attention from a...

Sep 16
Here's Why Kirby (NYSE:KEX) Has A Meaningful Debt Burden

Here's Why Kirby (NYSE:KEX) Has A Meaningful Debt Burden

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...

Aug 13

Kirby Looking More Interesting After Some Recent Underperformance

Kirby is starting to see inland barge demand recover off of the pandemic-driven bottoms, with refinery utilization and refined product demand improving in recent months. Coastal barge demand isn't likely to show the same inflection, but the D&S business could surprise some with increased demand from on-highway, industrial, and energy customers, and better margin leverage. A near-term fair value of $65 to $70 makes Kirby a name worth considering today.

Jul 19
Is Kirby Corporation (NYSE:KEX) Trading At A 43% Discount?

Is Kirby Corporation (NYSE:KEX) Trading At A 43% Discount?

Today we will run through one way of estimating the intrinsic value of Kirby Corporation ( NYSE:KEX ) by projecting its...

Shareholder Returns

KEXUS ShippingUS Market
7D4.0%3.4%1.7%
1Y47.6%104.2%30.3%

Return vs Industry: KEX underperformed the US Shipping industry which returned 104.2% over the past year.

Return vs Market: KEX exceeded the US Market which returned 30.3% over the past year.

Price Volatility

Is KEX's price volatile compared to industry and market?
KEX volatility
KEX Beta1.5
Industry Beta1.33
Market Beta1

Stable Share Price: KEX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: KEX's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19215,400David Grzebinskihttps://kirbycorp.com

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii. It also transports petrochemicals, black oil, refined petroleum products, and agricultural chemicals by tank barges; and operates offshore dry-bulk barge and tugboat units that are engaged in the offshore transportation of dry-bulk cargoes in the United States coastal trade.

Kirby Fundamentals Summary

How do Kirby's earnings and revenue compare to its market cap?
KEX fundamental statistics
Market CapUS$3.42b
Earnings (TTM)US$56.50m
Revenue (TTM)US$2.04b

60.4x

P/E Ratio

1.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
KEX income statement (TTM)
RevenueUS$2.04b
Cost of RevenueUS$1.46b
Gross ProfitUS$586.57m
ExpensesUS$530.07m
EarningsUS$56.50m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Oct 28, 2021

Earnings per share (EPS)0.94
Gross Margin28.71%
Net Profit Margin2.77%
Debt/Equity Ratio41.1%

How did KEX perform over the long term?

See historical performance and comparison

Valuation

Is Kirby undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: KEX ($56.82) is trading below our estimate of fair value ($136.69)

Significantly Below Fair Value: KEX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: KEX is poor value based on its PE Ratio (60.4x) compared to the US Shipping industry average (10.5x).

PE vs Market: KEX is poor value based on its PE Ratio (60.4x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: KEX is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: KEX's PB Ratio (1.1x) is in line with the US Shipping industry average.


Future Growth

How is Kirby forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

68.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KEX's forecast earnings growth (68.6% per year) is above the savings rate (2%).

Earnings vs Market: KEX's earnings (68.6% per year) are forecast to grow faster than the US market (14.9% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: KEX's revenue (9.6% per year) is forecast to grow slower than the US market (9.9% per year).

High Growth Revenue: KEX's revenue (9.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if KEX's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Kirby performed over the past 5 years?

-40.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KEX has high quality earnings.

Growing Profit Margin: KEX became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: KEX's earnings have declined by 40.6% per year over the past 5 years.

Accelerating Growth: KEX has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: KEX has become profitable in the last year, making it difficult to compare its past year earnings growth to the Shipping industry (359.5%).


Return on Equity

High ROE: KEX's Return on Equity (1.8%) is considered low.


Financial Health

How is Kirby's financial position?


Financial Position Analysis

Short Term Liabilities: KEX's short term assets ($963.1M) exceed its short term liabilities ($498.2M).

Long Term Liabilities: KEX's short term assets ($963.1M) do not cover its long term liabilities ($2.2B).


Debt to Equity History and Analysis

Debt Level: KEX's debt to equity ratio (41.1%) is considered high.

Reducing Debt: KEX's debt to equity ratio has increased from 33.9% to 41.1% over the past 5 years.

Debt Coverage: KEX's debt is well covered by operating cash flow (31.4%).

Interest Coverage: KEX's interest payments on its debt are not well covered by EBIT (1.9x coverage).


Balance Sheet


Dividend

What is Kirby current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate KEX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate KEX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if KEX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if KEX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of KEX's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.0yrs

Average management tenure


CEO

David Grzebinski (60 yo)

7.5yrs

Tenure

US$4,206,966

Compensation

Mr. David W. Grzebinski, CFA, has been Chief Executive Officer of Kirby Corporation since April 29, 2014 and its President since January 01, 2014. Mr. Grzebinski served as Chief Financial Officer of Kirby...


CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD4.21M) is about average for companies of similar size in the US market ($USD5.19M).

Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: KEX's management team is considered experienced (4 years average tenure).


Board Members

Experienced Board: KEX's board of directors are considered experienced (7.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: KEX insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Kirby Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Kirby Corporation
  • Ticker: KEX
  • Exchange: NYSE
  • Founded: 1921
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: US$3.415b
  • Shares outstanding: 60.11m
  • Website: https://kirbycorp.com

Number of Employees


Location

  • Kirby Corporation
  • 55 Waugh Drive
  • Suite 1000
  • Houston
  • Texas
  • 77007
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/23 22:21
End of Day Share Price2021/10/22 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.