Kirby (KEX)
Market Price (7/11/2026): $143.75 | Market Cap: $7.7 BilSector: Industrials | Industry: Marine Transportation
Kirby (KEX)
Market Price (7/11/2026): $143.75Market Cap: $7.7 BilSector: IndustrialsIndustry: Marine Transportation
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15% Attractive yieldFCF Yield is 6.4% Low stock price volatilityVol 12M is 36% Megatrend and thematic driversMegatrends include US Energy Independence, and Future of Freight. Themes include US LNG, US Oilfield Technologies, Show more. | Weak multi-year price returns2Y Excs Rtn is -16% | Key risksKEX key risks include [1] its services segment's exposure to volatile oil and gas prices, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15% |
| Attractive yieldFCF Yield is 6.4% |
| Low stock price volatilityVol 12M is 36% |
| Megatrend and thematic driversMegatrends include US Energy Independence, and Future of Freight. Themes include US LNG, US Oilfield Technologies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -16% |
| Key risksKEX key risks include [1] its services segment's exposure to volatile oil and gas prices, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Kirby (KEX) stock has gained about 10% since 3/31/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Earnings Beat and Revenue Growth. Kirby Corporation announced robust fiscal Q1 2026 results on April 30, 2026, reporting earnings per share (EPS) of $1.50, surpassing analyst estimates of $1.41 by $0.09. Additionally, revenue reached $844.10 million, exceeding expectations of $832.57 million, marking a 7.4% increase compared to the same quarter last year.
2. Upgraded Full-Year Fiscal 2026 Earnings Guidance. Following its strong Q1 performance, Kirby raised its fiscal year 2026 EPS growth guidance to a range of 5% to 15%, an increase from its previous forecast of flat to 12% growth. This revised outlook signals management's increased confidence in the company's future financial performance and market conditions.
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Kirby (KEX) stock has gained about 10% since 3/31/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Earnings Beat and Revenue Growth. Kirby Corporation announced robust fiscal Q1 2026 results on April 30, 2026, reporting earnings per share (EPS) of $1.50, surpassing analyst estimates of $1.41 by $0.09. Additionally, revenue reached $844.10 million, exceeding expectations of $832.57 million, marking a 7.4% increase compared to the same quarter last year.
2. Upgraded Full-Year Fiscal 2026 Earnings Guidance. Following its strong Q1 performance, Kirby raised its fiscal year 2026 EPS growth guidance to a range of 5% to 15%, an increase from its previous forecast of flat to 12% growth. This revised outlook signals management's increased confidence in the company's future financial performance and market conditions.
3. Positive Analyst Sentiment and Increased Price Targets. Several Wall Street analysts issued positive reports and raised their price targets for Kirby during the period. On July 8, 2026, Bank of America raised its price target from $169.00 to $182.00 while maintaining a "Buy" rating, contributing to a 7.5% increase in the stock price that day. Earlier, on April 9, 2026, Citigroup increased its target to $160.00 from $147.00, and on April 30, 2026, BTIG Research raised its target to $170.00 from $160.00, both with "Buy" ratings. Stephens also reinstated coverage with an "Overweight" rating and a $175 price target on July 8, 2026.
4. Strengthening Marine Transportation Segment and Improving Transport Sector. The company's core Marine Transportation segment demonstrated strong performance in fiscal Q1 2026, generating revenues of $497.2 million with an operating income of $89.7 million and an 18% operating margin. This segment's strength is further bolstered by a broadly improving transport sector, with analysts anticipating upward momentum to continue through 2027, suggesting a favorable macroeconomic environment for Kirby's operations.
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Stock Movement Drivers
Fundamental Drivers
The 8.2% change in KEX stock from 3/31/2026 to 7/10/2026 was primarily driven by a 5.7% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7102026 | Change |
|---|---|---|---|
| Stock Price ($) | 132.88 | 143.75 | 8.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,364 | 3,422 | 1.7% |
| Net Income Margin (%) | 10.5% | 10.5% | -0.3% |
| P/E Multiple | 20.3 | 21.4 | 5.7% |
| Shares Outstanding (Mil) | 54 | 54 | 0.9% |
| Cumulative Contribution | 8.2% |
Market Drivers
3/31/2026 to 7/10/2026| Return | Correlation | |
|---|---|---|
| KEX | 8.2% | |
| Market (SPY) | 16.1% | 21.4% |
| Sector (XLI) | 12.5% | 19.1% |
Fundamental Drivers
The 30.5% change in KEX stock from 12/31/2025 to 7/10/2026 was primarily driven by a 14.0% change in the company's Net Income Margin (%).| (LTM values as of) | 12312025 | 7102026 | Change |
|---|---|---|---|
| Stock Price ($) | 110.18 | 143.75 | 30.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,315 | 3,422 | 3.3% |
| Net Income Margin (%) | 9.2% | 10.5% | 14.0% |
| P/E Multiple | 20.1 | 21.4 | 6.9% |
| Shares Outstanding (Mil) | 56 | 54 | 3.7% |
| Cumulative Contribution | 30.5% |
Market Drivers
12/31/2025 to 7/10/2026| Return | Correlation | |
|---|---|---|
| KEX | 30.5% | |
| Market (SPY) | 11.0% | 22.0% |
| Sector (XLI) | 17.6% | 22.6% |
Fundamental Drivers
The 26.8% change in KEX stock from 6/30/2025 to 7/10/2026 was primarily driven by a 16.5% change in the company's Net Income Margin (%).| (LTM values as of) | 6302025 | 7102026 | Change |
|---|---|---|---|
| Stock Price ($) | 113.41 | 143.75 | 26.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,244 | 3,422 | 5.5% |
| Net Income Margin (%) | 9.0% | 10.5% | 16.5% |
| P/E Multiple | 22.1 | 21.4 | -2.9% |
| Shares Outstanding (Mil) | 57 | 54 | 6.1% |
| Cumulative Contribution | 26.8% |
Market Drivers
6/30/2025 to 7/10/2026| Return | Correlation | |
|---|---|---|
| KEX | 26.8% | |
| Market (SPY) | 23.2% | 22.4% |
| Sector (XLI) | 24.6% | 23.1% |
Fundamental Drivers
The 86.8% change in KEX stock from 6/30/2023 to 7/10/2026 was primarily driven by a 111.2% change in the company's Net Income Margin (%).| (LTM values as of) | 6302023 | 7102026 | Change |
|---|---|---|---|
| Stock Price ($) | 76.95 | 143.75 | 86.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,924 | 3,422 | 17.0% |
| Net Income Margin (%) | 5.0% | 10.5% | 111.2% |
| P/E Multiple | 31.7 | 21.4 | -32.4% |
| Shares Outstanding (Mil) | 60 | 54 | 11.8% |
| Cumulative Contribution | 86.8% |
Market Drivers
6/30/2023 to 7/10/2026| Return | Correlation | |
|---|---|---|
| KEX | 86.8% | |
| Market (SPY) | 76.3% | 46.4% |
| Sector (XLI) | 76.6% | 48.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| KEX Return | 15% | 8% | 22% | 35% | 4% | 29% | 175% |
| Peers Return | 20% | 206% | 48% | -7% | 5% | 59% | 744% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| KEX Win Rate | 42% | 58% | 67% | 67% | 50% | 71% | |
| Peers Win Rate | 50% | 72% | 65% | 45% | 57% | 69% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 57% | |
Max Drawdowns [4] | |||||||
| KEX Max Drawdown | -31% | -25% | -16% | -20% | -34% | -15% | |
| Peers Max Drawdown | -36% | -31% | -29% | -43% | -39% | -21% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MATX, INSW, STNG, TDW, ASC. See KEX Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/10/2026 (YTD)
How Low Can It Go
| Event | KEX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -19.2% | -18.8% |
| % Gain to Breakeven | 23.7% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -11.0% | -6.7% |
| % Gain to Breakeven | 12.4% | 7.1% |
| Time to Breakeven | 66 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -54.1% | -33.7% |
| % Gain to Breakeven | 117.8% | 50.9% |
| Time to Breakeven | 741 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -27.0% | -19.2% |
| % Gain to Breakeven | 37.0% | 23.8% |
| Time to Breakeven | 151 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -35.8% | -12.2% |
| % Gain to Breakeven | 55.7% | 13.9% |
| Time to Breakeven | 146 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -61.6% | -6.8% |
| % Gain to Breakeven | 160.6% | 7.3% |
| Time to Breakeven | 3051 days | 15 days |
In The Past
Kirby's stock fell -19.2% during the 2025 US Tariff Shock. Such a loss loss requires a 23.7% gain to breakeven.
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Asset Allocation
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| Event | KEX | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -54.1% | -33.7% |
| % Gain to Breakeven | 117.8% | 50.9% |
| Time to Breakeven | 741 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -27.0% | -19.2% |
| % Gain to Breakeven | 37.0% | 23.8% |
| Time to Breakeven | 151 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -35.8% | -12.2% |
| % Gain to Breakeven | 55.7% | 13.9% |
| Time to Breakeven | 146 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -61.6% | -6.8% |
| % Gain to Breakeven | 160.6% | 7.3% |
| Time to Breakeven | 3051 days | 15 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -57.8% | -53.4% |
| % Gain to Breakeven | 136.8% | 114.4% |
| Time to Breakeven | 696 days | 1085 days |
In The Past
Kirby's stock fell -19.2% during the 2025 US Tariff Shock. Such a loss loss requires a 23.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Kirby (KEX)
Kirby Corporation (KEX) is a diversified industrial company primarily engaged in marine transportation and the distribution and servicing of various industrial equipment. Its Marine Transportation segment operates as a leading provider of domestic tank barge and towing services across the United States. This segment specializes in the bulk liquid transportation of petrochemicals, black oil, refined petroleum products, and agricultural chemicals throughout major waterways like the Mississippi River System, the Gulf Intracoastal Waterway, and along all three U.S. coasts, extending to Alaska and Hawaii. Additionally, it provides offshore transportation of dry-bulk cargo using specialized barges and tugboats in coastal trade.
Kirby's Distribution and Services segment focuses on selling, servicing, and manufacturing a wide range of industrial equipment and parts. This includes offering after-market services and genuine replacement parts for engines, transmissions, electric motors, and control systems. The segment also rebuilds critical component parts for diesel engines and related equipment used in various applications. Furthermore, it rents industrial machinery such as generators and compressors, and manufactures and remanufactures specialized equipment for the oilfield service industry, including pressure pumping units. It also produces electric power generation and high-capacity energy storage systems, serving a broad customer base across oilfield service, marine, power generation, on-highway, and other industrial sectors, including various commercial entities and the U.S. government.
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Here are 1-3 brief analogies for Kirby (KEX):
- Think of Kirby as the Union Pacific or CSX of the U.S. waterways, transporting bulk liquids (like chemicals and petroleum) and some dry goods via barges and tugboats across rivers and coasts.
- For its other segment, imagine a large, specialized Caterpillar dealership network that provides parts, service, and rentals for heavy industrial and marine engines, transmissions, and oilfield equipment.
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- Marine Transportation of Liquid Products: Provides marine transportation services for bulk liquid products, including petrochemicals, refined petroleum, and agricultural chemicals, using inland and coastal tank barges and towboats.
- Offshore Dry-Bulk Transportation: Offers offshore transportation of dry-bulk cargo in the United States coastal trade using barges and tugboats.
- Aftermarket Parts & Industrial Equipment Services: Sells aftermarket service and genuine replacement parts, and rebuilds components for engines, transmissions, and related industrial equipment.
- Industrial Equipment Rental: Rents industrial equipment such as generators, compressors, high-capacity lift trucks, and refrigeration trailers.
- Oilfield Service Equipment Manufacturing: Manufactures and remanufactures specialized oilfield service equipment, including pressure pumping units.
- Power & Electrical Equipment Manufacturing: Produces electric power generation equipment, specialized electrical distribution and control systems, and high-capacity energy storage/battery systems.
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Kirby Corporation (KEX) primarily serves other companies and the United States government.
The provided company description does not list specific named customer companies. However, based on the services and products offered, Kirby's major customers can be identified by the industries they operate in:
- Energy and Chemical Companies: This category includes companies involved in the production and distribution of petrochemicals, black oil, and refined petroleum products, which utilize Kirby's marine transportation services for bulk liquid transport. It also encompasses oilfield service companies that purchase or utilize Kirby's manufactured and remanufactured oilfield service equipment (like pressure pumping units) and rely on its aftermarket parts and services for engines, transmissions, and related equipment.
- Agricultural Companies: Customers in this sector utilize Kirby's marine transportation segment for the bulk transport of agricultural chemicals.
- Industrial, Marine, and Power Generation Companies: These customers seek Kirby's aftermarket service, genuine replacement parts, and rebuilt components for various industrial applications, including marine vessels, power generation facilities, and on-highway equipment. This category also includes companies that rent industrial equipment such as generators, compressors, and high-capacity lift trucks.
- United States Government: The U.S. government is explicitly mentioned as a customer for services and equipment provided by Kirby's Distribution and Services segment.
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David W. Grzebinski, Chief Executive Officer
Mr. Grzebinski joined Kirby in 2010 and has served as Chief Executive Officer since April 2014. Previously, he was President & CEO (2014–2024), President & COO (January–April 2014), and EVP/CFO (2010–2014). Before joining Kirby, he held various operational and financial positions with FMC Technologies Inc. starting in 1988, and prior to that, worked at Dow Chemical Company in manufacturing, engineering, and finance roles. He holds a Bachelor of Science in Chemical Engineering from the University of South Florida, an MBA from Tulane University, and is a Chartered Financial Analyst.
Raj Kumar, Executive Vice President and Chief Financial Officer
Mr. Kumar joined Kirby Corporation as Executive Vice President and Chief Financial Officer in November 2021. Prior to his role at Kirby, he served as Vice President and Chief Financial Officer at Dril-Quip, Inc. from 2020, and held the positions of Vice President and Treasurer at Dril-Quip from 2017 to 2019. From 2015 to 2017, he was Vice President Finance and led the Integrated Supply Chain function at Franks International. His extensive corporate finance background includes roles as a Segment Controller at LyondellBasell and in Division CFO, treasury, strategic planning, and corporate development at FMC Technologies and Dell Technologies. He also served as VP-Finance & Chief Accounting Officer of Innovex International Inc. Mr. Kumar holds a Bachelor of Business in Accounting from Deakin University and an MBA from Columbia University.
Christian G. O'Neil, President and Chief Operating Officer
Mr. O'Neil has served as President & Chief Operating Officer since April 2024. His previous roles at Kirby include Executive Vice President and Chief Operating Officer of Kirby Inland Marine and Kirby Offshore Marine from May 2016 to January 2018. He also served as Executive Vice President – Commercial Operations of Kirby Inland Marine and Kirby Offshore Marine from April 2014 to May 2016, Vice President – Human Resources of the Company from May 2012 to April 2014, Vice President – Sales for Kirby Inland Marine from 2009 to 2012, and President of Osprey from 2006 through 2008.
Amy D. Husted, Executive Vice President, General Counsel and Secretary
Ms. Husted has been Executive Vice President, General Counsel and Secretary since July 2024, having joined Kirby as Corporate Counsel in November 1999. Her career at Kirby includes serving as Vice President of Legal from January 2008 to January 2017, Vice President and General Counsel from January 2017 to April 2019, and Vice President, General Counsel and Secretary from April 2019 to April 2024. Before Kirby, she was Corporate Counsel at Hollywood Marine from 1996 to 1999, having started there in 1994. Ms. Husted earned her Juris Doctor from South Texas College of Law and a Bachelor of Science degree in Political Science from the University of Houston.
Jenny N. McCauley, Chief Human Resources Officer
Ms. McCauley joined Kirby as Chief Human Resources Officer in February 2025. She previously held various Human Resources leadership positions, including Senior Vice President Chief Administrative Officer at Southwestern Energy from January 2016 to December 2020, and Chief Human Resources Officer at Southwestern Energy from June 2009 to December 2015. Prior to her tenure at Southwestern Energy, she was the Vice President Human Resources at BG Group from June 2007 to May 2009, and held several executive human resources roles at JPMorgan Chase from December 1997 to May 2007.
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Key Risks to Kirby Corporation (KEX)
The key risks to Kirby Corporation's business largely stem from its deep entanglement with the energy and industrial sectors, alongside the inherent operational and regulatory challenges of marine transportation:
- Reliance on the Energy and Petrochemical Sectors: A substantial portion of Kirby's business, across both its Marine Transportation and Distribution and Services segments, is directly tied to the health and activity of the energy (oil and gas) and petrochemical industries. The Marine Transportation segment primarily transports petrochemicals, black oil, and refined petroleum products, while the Distribution and Services segment provides equipment and services for oilfield operations. Fluctuations in crude oil and natural gas prices, shifts in global energy policy towards renewables, and a potential decrease in demand for fossil fuels or specific chemicals could significantly impact the demand for Kirby's transportation services and equipment sales.
- Environmental and Regulatory Risks: As a major operator of tank barges and towboats transporting bulk liquids, including hazardous materials, Kirby is exposed to significant environmental risks. Potential spills or accidents could lead to substantial cleanup costs, fines, and reputational damage. Furthermore, the company faces an evolving landscape of environmental regulations, which could impose increased compliance costs, operational restrictions, and significant liabilities if incidents occur.
- General Economic Conditions and Industrial Demand: Kirby's operational performance is sensitive to overall economic conditions and the demand for industrial and agricultural products. A downturn in industrial production, consumer spending, or agricultural output directly impacts the volume of goods requiring transportation by its marine segment and the demand for equipment and services in its distribution segment. Economic contraction could lead to reduced utilization rates, lower revenues, and decreased profitability across its operations.
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The global energy transition and decarbonization efforts, leading to a decreased reliance on fossil fuels and internal combustion engines, pose a clear emerging threat. This trend threatens the long-term demand for Kirby's marine transportation services, which primarily transport black oil, refined petroleum products, and petrochemicals. Additionally, it threatens the demand for their distribution and services segment's oilfield service equipment, and diesel engine-related parts and services, as industries shift towards alternative energy sources and propulsion systems.
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Kirby Corporation (KEX) operates in several distinct addressable markets primarily within the United States.
Marine Transportation Segment:
- U.S. Inland Water Transportation Market: The U.S. inland water transportation industry is projected to reach approximately $8.8 billion in revenue in 2026.
- U.S. Ocean & Coastal Transportation Market: The market size for Ocean & Coastal Transportation in the U.S. was $62.7 billion in 2025 and is projected to reach $63.7 billion in 2026.
Distribution and Services Segment:
- U.S. Oilfield Services Market: The United States Oilfield Services Market is projected to grow from USD 35.38 billion in 2025 to USD 43.67 billion by 2031.
- North American Industrial Machinery Repair/Aftermarket Services Market: The global Industrial Machinery Repair/Aftermarket Services Market was valued at USD 282.31 billion in 2025, with North America contributing 36% of this market share, equating to approximately USD 101.63 billion in 2025. The U.S. holds the largest market share within North America for industrial services.
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Kirby Corporation (KEX) is expected to experience future revenue growth over the next 2-3 years driven by several key factors across its Marine Transportation and Distribution and Services segments:
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Strong Demand in Power Generation: The Distribution and Services segment is anticipated to see significant revenue growth from its power generation business. This is fueled by robust demand for behind-the-meter and backup power capabilities from data centers and other industrial customers. The company has noted strong order activity and a healthy backlog for these projects, with power generation revenues increasing substantially year-over-year.
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Favorable Coastal Marine Market Conditions and Pricing: The coastal marine transportation segment is expected to benefit from sustained strong market fundamentals. This includes steady customer demand, high barge utilization rates (in the mid-to-high 90% range), and limited new vessel construction, which collectively support ongoing pricing improvements and higher term contract renewals.
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Improving Inland Marine Market Fundamentals and Pricing: While the inland marine market faced some temporary softness in late 2025, it is projected to improve over the next 2-3 years. Revenue growth is expected to come from factors such as limited new barge construction, solid refinery utilization, an anticipated improvement in petrochemicals customer demand, and increasing barge utilization rates, leading to pricing improvements throughout the period.
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Steady Marine Repair Activity: Within the commercial and industrial markets of the Distribution and Services segment, steady marine repair activity is expected to contribute to revenue growth. This, alongside a modest recovery in on-highway service, provides a consistent revenue stream for the segment.
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Share Repurchases
- In the fourth quarter of 2025, Kirby repurchased 1,030,729 shares of its common stock for $101.6 million.
- For the full year 2024, the company purchased approximately 1.6 million shares for $174.6 million.
- As of September 5, 2025, the Board authorized the repurchase of up to an additional 8 million shares, bringing the total authorized for repurchase to approximately 8.8 million shares, with no expiration date.
Inbound Investments
- In the fourth quarter of 2025, Atlantic Investment Management initiated a new stake in Kirby Corporation by purchasing 223,000 shares, valued at approximately $24.57 million.
Outbound Investments
- In the first quarter of 2025, Kirby spent $97 million on acquiring businesses and equipment.
- The company's capital allocation priorities include pursuing inland marine acquisitions and investing in new growth areas such as power generation.
Capital Expenditures
- Total capital spending for 2025 was $264 million, with approximately $220 million directed towards marine maintenance and improvements, and $45 million for growth initiatives.
- For 2026, capital expenditures are projected to range between $220 million and $260 million, with a focus on marine maintenance and improvements, and growth capital spending.
- Capital expenditures totaled $322 million in 2024 and $294 million in 2023.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 83.90 |
| Mkt Cap | 4.1 |
| Rev LTM | 1,191 |
| Op Inc LTM | 426 |
| FCF LTM | 243 |
| FCF 3Y Avg | 262 |
| CFO LTM | 502 |
| CFO 3Y Avg | 560 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -1.8% |
| Rev Chg 3Y Avg | -2.7% |
| Rev Chg Q | 13.1% |
| QoQ Delta Rev Chg LTM | 3.1% |
| Op Inc Chg LTM | -7.2% |
| Op Inc Chg 3Y Avg | -3.1% |
| Op Mgn LTM | 20.9% |
| Op Mgn 3Y Avg | 23.7% |
| QoQ Delta Op Mgn LTM | 2.5% |
| CFO/Rev LTM | 24.9% |
| CFO/Rev 3Y Avg | 27.5% |
| FCF/Rev LTM | 13.4% |
| FCF/Rev 3Y Avg | 15.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.1 |
| P/S | 2.5 |
| P/Op Inc | 11.7 |
| P/EBIT | 11.2 |
| P/E | 11.8 |
| P/CFO | 10.1 |
| Total Yield | 9.4% |
| Dividend Yield | 1.0% |
| FCF Yield 3Y Avg | 8.4% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Marine Transportation (KMT) | 1,935 | 1,913 | 1,722 | 1,617 | 1,323 |
| Distribution and Services (KDS) | 1,429 | 1,353 | 1,370 | 1,168 | 924 |
| Total | 3,364 | 3,266 | 3,092 | 2,785 | 2,247 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Marine Transportation (KMT) | 374 | 363 | 239 | 136 | 63 |
| Distribution and Services (KDS) | 131 | 109 | 114 | 67 | 28 |
| Gain on disposition of assets | 5 | 2 | 5 | 8 | 6 |
| Impairments | 0 | -56 | 0 | ||
| General corporate expenses | -14 | -19 | -23 | -19 | -14 |
| Inventory write-down | -341 | ||||
| Total | 496 | 399 | 335 | 193 | -258 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Marine Transportation (KMT) | 4,706 | 4,579 | 4,455 | 4,286 | 4,319 |
| Distribution and Services (KDS) | 1,112 | 1,116 | 1,156 | 1,042 | 893 |
| Other | 191 | 158 | 111 | 227 | 187 |
| Total | 6,008 | 5,852 | 5,722 | 5,555 | 5,399 |
Price Behavior
| Market Price | $143.75 | |
| Market Cap ($ Bil) | 7.7 | |
| First Trading Date | 08/21/1991 | |
| Distance from 52W High | -5.8% | |
| 50 Days | 200 Days | |
| DMA Price | $141.35 | $122.66 |
| DMA Trend | up | indeterminate |
| Distance from DMA | 1.7% | 17.2% |
| 3M | 1YR | |
| Volatility | 24.8% | 35.7% |
| Downside Capture | 49.83 | 91.12 |
| Upside Capture | 38.52 | 94.25 |
| Correlation (SPY) | 22.1% | 22.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.47 | 0.47 | 0.29 | 0.42 | 0.63 | 0.94 |
| Up Beta | -0.47 | -0.11 | -0.38 | -0.33 | 0.09 | 0.93 |
| Down Beta | 0.93 | 0.65 | 0.80 | 0.75 | 0.47 | 0.93 |
| Up Capture | 40% | 11% | 33% | 72% | 85% | 88% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 11 | 19 | 34 | 67 | 134 | 402 |
| Down Capture | 71% | 98% | 72% | 44% | 94% | 98% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 10 | 22 | 29 | 58 | 115 | 346 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KEX | |
|---|---|---|---|---|
| KEX | 23.4% | 35.6% | 0.66 | - |
| Sector ETF (XLI) | 22.7% | 16.7% | 1.05 | 23.1% |
| Equity (SPY) | 22.1% | 12.5% | 1.31 | 22.2% |
| Gold (GLD) | 23.5% | 27.8% | 0.75 | 6.2% |
| Commodities (DBC) | 23.6% | 18.7% | 0.99 | 12.3% |
| Real Estate (VNQ) | 13.4% | 13.9% | 0.67 | 8.4% |
| Bitcoin (BTCUSD) | -43.4% | 42.8% | -1.21 | 10.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KEX | |
|---|---|---|---|---|
| KEX | 18.8% | 32.0% | 0.59 | - |
| Sector ETF (XLI) | 13.7% | 17.6% | 0.61 | 56.2% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 51.8% |
| Gold (GLD) | 17.8% | 18.3% | 0.79 | 7.9% |
| Commodities (DBC) | 7.3% | 19.5% | 0.27 | 30.3% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.05 | 37.6% |
| Bitcoin (BTCUSD) | 13.5% | 53.4% | 0.44 | 19.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KEX | |
|---|---|---|---|---|
| KEX | 8.5% | 35.9% | 0.33 | - |
| Sector ETF (XLI) | 14.6% | 20.0% | 0.64 | 62.1% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 56.1% |
| Gold (GLD) | 11.6% | 16.1% | 0.59 | 3.0% |
| Commodities (DBC) | 6.0% | 18.0% | 0.26 | 35.1% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 44.2% |
| Bitcoin (BTCUSD) | 58.3% | 66.2% | 0.98 | 14.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/30/2026 | -2.2% | -5.5% | -5.5% |
| 1/29/2026 | -3.7% | -2.8% | 8.8% |
| 10/29/2025 | 13.9% | 17.8% | 27.6% |
| 7/31/2025 | 0.2% | 5.2% | 2.0% |
| 5/1/2025 | 4.9% | 4.3% | 12.3% |
| 1/30/2025 | -2.6% | -4.4% | -10.6% |
| 10/30/2024 | -0.7% | 9.9% | 9.4% |
| 8/1/2024 | -3.3% | 1.4% | 5.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 16 | 17 |
| # Negative | 11 | 8 | 7 |
| Median Positive | 2.8% | 4.1% | 8.4% |
| Median Negative | -2.6% | -4.3% | -5.5% |
| Max Positive | 13.9% | 17.8% | 44.5% |
| Max Negative | -5.4% | -5.5% | -10.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/30/2026 | -2.2% | -5.5% | -5.5% |
| 1/29/2026 | -3.7% | -2.8% | 8.8% |
| 10/29/2025 | 13.9% | 17.8% | 27.6% |
| 7/31/2025 | 0.2% | 5.2% | 2.0% |
| 5/1/2025 | 4.9% | 4.3% | 12.3% |
| 1/30/2025 | -2.6% | -4.4% | -10.6% |
| 10/30/2024 | -0.7% | 9.9% | 9.4% |
| 8/1/2024 | -3.3% | 1.4% | 5.5% |
| 4/25/2024 | -0.1% | -2.3% | 9.1% |
| 2/1/2024 | 1.7% | 2.5% | 8.4% |
| 10/26/2023 | -2.6% | -4.2% | -2.6% |
| 7/27/2023 | 2.8% | 3.8% | 3.2% |
| 4/27/2023 | 5.9% | 7.5% | 9.3% |
| 1/31/2023 | 1.9% | 3.9% | 4.9% |
| 10/24/2022 | -3.9% | -2.2% | -3.2% |
| 7/28/2022 | -5.4% | -4.5% | 7.4% |
| 4/28/2022 | 4.0% | 4.2% | 2.5% |
| 1/27/2022 | 3.2% | 4.0% | 4.1% |
| 10/28/2021 | -2.5% | 3.5% | -2.8% |
| 7/29/2021 | 1.3% | -5.5% | -9.5% |
| 4/29/2021 | -2.1% | 2.5% | 0.7% |
| 1/28/2021 | 2.5% | 11.8% | 22.6% |
| 10/29/2020 | 4.5% | 10.4% | 44.5% |
| 7/30/2020 | 2.7% | 0.0% | -7.0% |
| SUMMARY STATS | |||
| # Positive | 13 | 16 | 17 |
| # Negative | 11 | 8 | 7 |
| Median Positive | 2.8% | 4.1% | 8.4% |
| Median Negative | -2.6% | -4.3% | -5.5% |
| Max Positive | 13.9% | 17.8% | 44.5% |
| Max Negative | -5.4% | -5.5% | -10.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/17/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/17/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 02/18/2022 | 10-K |
| 09/30/2021 | 11/08/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/23/2021 | 10-K |
| 09/30/2020 | 11/09/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/24/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
| 06/30/2019 | 08/02/2019 | 10-Q |
Recent Forward Guidance
Updated 7/9/2026Latest: Q1 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 EPS Growth | 5.0% | 10.0% | 15.0% | 4.0% | Raised | Guidance: 6.0% for 2026 | |
| 2026 Inland Revenue Growth | 2.0% | 3.5% | 0.0% | Affirmed | Guidance: 3.5% for 2026 | ||
| 2026 Inland Operating Margin | 17.0% | 18.5% | -1.0% | Lowered | Guidance: 19.5% for 2026 | ||
| 2026 Coastal Revenue Growth | 5.0% | 0.0% | Affirmed | Guidance: 5.0% for 2026 | |||
| 2026 Coastal Operating Margin | 17.0% | 18.0% | -0.5% | Lowered | Guidance: 18.5% for 2026 | ||
| 2026 Distribution and Services Revenue Growth | 0.0% | 1.0% | |||||
| 2026 Distribution and Services Operating Margin | 5.0% | 7.0% | 0.0% | Affirmed | Guidance: 7.0% for 2026 | ||
| 2026 Net Cash Provided by Operating Activities | 575.00 Mil | 625.00 Mil | 675.00 Mil | 0.0% | Affirmed | Guidance: 625.00 Mil for 2026 | |
| 2026 Capital Expenditures | 220.00 Mil | 240.00 Mil | 260.00 Mil | 0.0% | Affirmed | Guidance: 240.00 Mil for 2026 | |
Prior: Q4 2025 Earnings Reported 1/29/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 EPS Growth | 0.0% | 6.0% | |||||
| 2026 Inland Revenue Growth | 1.0% | 3.5% | |||||
| 2026 Inland Operating Margin | 17.0% | 19.5% | |||||
| 2026 Coastal Revenue Growth | 5.0% | ||||||
| 2026 Coastal Operating Margin | 17.0% | 18.5% | |||||
| 2026 Distribution and Services Operating Margin | 5.0% | 7.0% | |||||
| 2026 Net Cash Provided by Operating Activities | 575.00 Mil | 625.00 Mil | -6.7% | Lower New | Guidance: 670.00 Mil for 2025 | ||
| 2026 Capital Expenditures | 220.00 Mil | 240.00 Mil | -12.7% | Lower New | Guidance: 275.00 Mil for 2025 | ||
Q3 2025 Earnings Reported 10/29/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Net Cash Provided by Operating Activities | 620.00 Mil | 670.00 Mil | 720.00 Mil | 0 | Affirmed | Guidance: 670.00 Mil for 2025 | |
| 2025 Capital Expenditures | 260.00 Mil | 275.00 Mil | 290.00 Mil | 0 | Affirmed | Guidance: 275.00 Mil for 2025 | |
| 2025 Distribution and Services Revenue Growth | 5.0% | ||||||
Insider Activity
Updated 5/18/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Woodruff, William Matthew | VP of Public and Govt Affairs | Direct | Sell | 5182026 | 147.37 | 678 | 99,917 | 1,326 | Form |
| 2 | O'Neil, Christian G | President and COO | Direct | Sell | 5182026 | 145.93 | 11,287 | Form | ||
| 3 | Husted, Amy D | Exec VP General Counsel & Sec | Direct | Sell | 5182026 | 145.43 | 4,000 | 581,720 | 1,572,680 | Form |
| 4 | Dragg, Ronald A | Vice President and Controller | Direct | Sell | 5062026 | 145.01 | 1,726 | 250,287 | 1,257,672 | Form |
| 5 | O'Neil, Christian G | President and COO | Direct | Sell | 3042026 | 132.34 | 11,287 | 1,493,722 | 1,493,722 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Woodruff, William Matthew | VP of Public and Govt Affairs | Direct | Sell | 5182026 | 147.37 | 678 | 99,917 | 1,326 | Form |
| 2 | O'Neil, Christian G | President and COO | Direct | Sell | 5182026 | 145.93 | 11,287 | Form | ||
| 3 | Husted, Amy D | Exec VP General Counsel & Sec | Direct | Sell | 5182026 | 145.43 | 4,000 | 581,720 | 1,572,680 | Form |
| 4 | Dragg, Ronald A | Vice President and Controller | Direct | Sell | 5062026 | 145.01 | 1,726 | 250,287 | 1,257,672 | Form |
| 5 | O'Neil, Christian G | President and COO | Direct | Sell | 3042026 | 132.34 | 11,287 | 1,493,722 | 1,493,722 | Form |
| 6 | Kumar, Raj | Exec VP and CFO | Direct | Sell | 3042026 | 132.70 | 3,000 | 398,100 | 596,354 | Form |
| 7 | Grzebinski, David W | CEO | Direct | Sell | 2262026 | 130.05 | 34,152 | 4,441,468 | 12,776,242 | Form |
| 8 | Husted, Amy D | Exec VP General Counsel & Sec | Direct | Sell | 2232026 | 129.33 | 11,667 | 1,508,893 | 1,915,895 | Form |
| 9 | Davis, Barry E | Direct | Sell | 2232026 | 128.51 | 8,480 | 1,089,765 | 4,590,763 | Form | |
| 10 | Miller, Scott P | VP - CIO | Direct | Sell | 2112026 | 120.68 | 3,960 | 477,893 | 430,224 | Form |
| 11 | Woodruff, William Matthew | VP of Public and Govt Affairs | Direct | Sell | 2112026 | 121.88 | 2,000 | 243,760 | 83,732 | Form |
| 12 | Dragg, Ronald A | Vice President and Controller | Direct | Sell | 2062026 | 122.00 | 5,429 | 662,338 | 1,268,678 | Form |
| 13 | O'Neil, Christian G | President and COO | Direct | Sell | 12232025 | 111.68 | 11,145 | 1,244,674 | 1,656,773 | Form |
| 14 | Niemietz, Kurt A | VP IR & Treasurer | Direct | Sell | 12022025 | 114.12 | 1,500 | 171,180 | 109,327 | Form |
| 15 | Husted, Amy D | Exec VP General Counsel & Sec | Direct | Sell | 11242025 | 107.42 | 10,413 | 1,118,564 | 1,263,259 | Form |
| 16 | Grzebinski, David W | CEO | Direct | Sell | 11242025 | 107.41 | 29,451 | 3,163,332 | 8,561,544 | Form |
| 17 | Dragg, Ronald A | Vice President and Controller | Direct | Sell | 11132025 | 110.29 | 2,715 | 299,437 | 1,138,744 | Form |
| 18 | Stewart, Richard Ross | Direct | Sell | 11122025 | 107.83 | 1,923 | 207,357 | 1,670,071 | Form |
Investor Activity (13F)
Updated Jul 11, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank and community-bank filers are excluded.
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Marine Transportation Resources |
| The Maritime Executive |
| MarineLink |
| gCaptain |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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