Kirby Corporation (KEX)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	2,704,550	2,438,460	1,595,600	1,295,150	2,427,500
Revenue	US$ in thousands	3,047,860	2,748,750	2,210,980	2,171,410	2,838,400
Gross profit margin		88.74%	88.71%	72.17%	59.65%	85.52%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $2,704,550K ÷ $3,047,860K
= 88.74%

The gross profit margin of Kirby Corp. has remained consistently high at 100% over the past five years, including the most recent data as of December 31, 2023. This indicates that for every dollar of revenue generated, the company retains the entirety as gross profit after deducting the cost of goods sold. A consistently high gross profit margin suggests that Kirby Corp. effectively controls its production costs and maintains healthy pricing strategies, resulting in strong profitability at the gross profit level. However, it is essential to consider other aspects of the company's financial performance, such as operating expenses and net profit margins, to gain a more comprehensive understanding of its overall financial health and efficiency.