Kirby Valuation

Is KEX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of KEX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KEX ($129.3) is trading below our estimate of fair value ($235.37)

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


Key Valuation Metric

Which metric is best to use when looking at relative valuation for KEX?

Key metric: As KEX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for KEX. This is calculated by dividing KEX's market cap by their current earnings.
What is KEX's PE Ratio?
PE Ratio24.3x
EarningsUS$305.75m
Market CapUS$7.36b

Price to Earnings Ratio vs Peers

How does KEX's PE Ratio compare to its peers?

The above table shows the PE ratio for KEX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.4x
MATX Matson
12.3x-19.6%US$5.1b
DAC Danaos
2.9x-3.9%US$1.7b
GOGL Golden Ocean Group
11.1x15.9%US$2.4b
SBLK Star Bulk Carriers
7.5x17.9%US$2.4b
KEX Kirby
24.3x17.0%US$7.4b

Price-To-Earnings vs Peers: KEX is expensive based on its Price-To-Earnings Ratio (24.3x) compared to the peer average (8.4x).


Price to Earnings Ratio vs Industry

How does KEX's PE Ratio compare vs other companies in the US Shipping Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TORO Toro
0.3xn/aUS$46.84m
PXS Pyxis Tankers
1.3x-16.9%US$42.99m
CTRM Castor Maritime
0.5xn/aUS$33.62m
PSHG Performance Shipping
0.4x7.0%US$23.23m
No more companies available in this PE range
KEX 24.3xIndustry Avg. 4.6xNo. of Companies4PE0612182430+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KEX is expensive based on its Price-To-Earnings Ratio (24.3x) compared to the US Shipping industry average (4.8x).


Price to Earnings Ratio vs Fair Ratio

What is KEX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KEX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.3x
Fair PE Ratio17.6x

Price-To-Earnings vs Fair Ratio: KEX is expensive based on its Price-To-Earnings Ratio (24.3x) compared to the estimated Fair Price-To-Earnings Ratio (17.6x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst KEX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$129.30
US$140.67
+8.8%
2.5%US$147.00US$136.00n/a6
Nov ’25US$114.28
US$138.50
+21.2%
2.0%US$142.00US$134.00n/a6
Oct ’25US$122.41
US$137.67
+12.5%
2.6%US$144.00US$133.00n/a6
Sep ’25US$119.92
US$137.67
+14.8%
2.6%US$144.00US$133.00n/a6
Aug ’25US$113.70
US$135.60
+19.3%
2.4%US$140.00US$131.00n/a5
Jul ’25US$121.05
US$129.50
+7.0%
4.3%US$138.00US$120.00n/a6
Jun ’25US$124.17
US$128.33
+3.4%
3.3%US$132.00US$120.00n/a6
May ’25US$108.17
US$126.00
+16.5%
4.2%US$131.00US$118.00n/a6
Apr ’25US$94.65
US$101.00
+6.7%
5.0%US$109.00US$95.00n/a4
Mar ’25US$87.74
US$101.00
+15.1%
5.0%US$109.00US$95.00n/a4
Feb ’25US$82.40
US$101.00
+22.6%
5.0%US$109.00US$95.00n/a4
Jan ’25US$78.48
US$99.20
+26.4%
3.7%US$105.00US$94.00n/a5
Dec ’24US$77.22
US$99.20
+28.5%
3.7%US$105.00US$94.00n/a5
Nov ’24US$76.05
US$99.20
+30.4%
3.7%US$105.00US$94.00US$114.285
Oct ’24US$82.80
US$99.40
+20.0%
3.4%US$105.00US$95.00US$122.415
Sep ’24US$84.15
US$97.40
+15.7%
5.1%US$105.00US$90.00US$119.925
Aug ’24US$81.41
US$95.40
+17.2%
3.4%US$100.00US$90.00US$113.705
Jul ’24US$76.95
US$87.60
+13.8%
2.9%US$90.00US$84.00US$121.055
Jun ’24US$72.83
US$87.60
+20.3%
2.9%US$90.00US$84.00US$124.175
May ’24US$72.65
US$87.60
+20.6%
2.9%US$90.00US$84.00US$108.175
Apr ’24US$69.70
US$87.00
+24.8%
4.2%US$90.00US$82.00US$94.655
Mar ’24US$73.07
US$85.00
+16.3%
4.9%US$90.00US$80.00US$87.745
Feb ’24US$72.13
US$84.00
+16.5%
6.3%US$90.00US$77.00US$82.405
Jan ’24US$64.35
US$82.40
+28.0%
5.6%US$90.00US$77.00US$78.485
Dec ’23US$68.82
US$82.00
+19.2%
6.2%US$90.00US$75.00US$77.225
Nov ’23US$69.96
US$82.00
+17.2%
6.2%US$90.00US$75.00US$76.055

Analyst Forecast: Target price is less than 20% higher than the current share price.


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