Kirby Corporation (KEX)
Profitability ratios
Return on sales
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Gross profit margin | 88.74% | 88.71% | 72.17% | 59.65% | 85.52% |
| Operating profit margin | 10.99% | 7.02% | -11.68% | -19.38% | 8.53% |
| Pretax margin | 9.65% | 5.98% | -13.15% | -21.29% | 6.66% |
| Net profit margin | 7.31% | 4.45% | -11.17% | -12.55% | 5.02% |
Kirby Corp.'s profitability ratios demonstrate fluctuating performance over the past five years. The gross profit margin has remained stable at 100% throughout the period, indicating consistent efficiency in managing production costs.
The operating profit margin shows a positive trend, improving from 6.47% in 2020 to 10.68% in 2023, reflecting better operational efficiency and cost management strategies implemented by the company.
However, the pretax margin fluctuates significantly, with negative margins in 2021 and 2020, indicating challenges in generating profits before taxes during those periods. The positive pretax margin in 2023 (9.51%) suggests a recovery and better financial performance.
Similarly, the net profit margin also demonstrates a mixed performance, with negative margins in 2021 and 2020. The improvement in 2023 (7.21%) reflects a better bottom-line profitability for Kirby Corp.
Overall, while the company has shown resilience in maintaining a strong gross profit margin and improving its operating profit margin, challenges in generating profits before taxes in some years have impacted the bottom-line net profit margin. Continuous monitoring and strategic adjustments may be necessary to ensure sustained profitability in the future.
Return on investment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Operating return on assets (Operating ROA) | 5.86% | 3.47% | -4.78% | -7.10% | 3.98% |
| Return on assets (ROA) | 3.90% | 2.20% | -4.57% | -4.60% | 2.34% |
| Return on total capital | 8.25% | 5.08% | -6.13% | -9.08% | 5.17% |
| Return on equity (ROE) | 7.00% | 4.02% | -8.56% | -8.84% | 4.23% |
Kirby Corp.'s profitability ratios have shown varying trends over the past five years.
- Operating return on assets (Operating ROA) has been improving steadily since 2020, reaching 5.77% in 2023. This indicates that the company is generating better operating returns relative to its asset base.
- Return on assets (ROA) also saw an overall positive trend, with a notable negative anomaly in 2021 and 2020. The ratio improved to 3.89% in 2023, suggesting that the company is becoming more efficient in generating profits from its assets.
- Return on total capital has consistently increased from 3.08% in 2020 to 7.86% in 2023. This indicates that the company is generating higher returns in relation to its total capital employed, reflecting improved financial performance.
- Return on equity (ROE) has shown a mixed trend, with sharp declines in 2021 and 2020 followed by a recovery to 7.00% in 2023. Despite the fluctuations, it appears that the company's profitability in relation to shareholders' equity has improved over the years.
Overall, Kirby Corp. has made notable progress in enhancing its profitability metrics, indicating improved operational efficiency and financial performance.