Kirby Corporation (KEX)

Operating return on assets (Operating ROA)

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Operating income (ttm)	US$ in thousands	398,508	440,402	406,995	374,312	334,313	253,593	171,986	82,102	-159	20,122	-308,720	-282,108	-258,133	-264,960	81,877	92,101	-292,826	-301,423	-253,433	-211,842
Total assets	US$ in thousands	5,851,950	5,870,720	5,865,900	5,775,840	5,722,200	5,682,880	5,574,580	5,574,750	5,554,920	5,456,300	5,405,160	5,382,790	5,399,060	5,389,880	5,767,820	5,788,090	5,924,170	5,981,120	6,017,010	6,137,580
Operating ROA		6.81%	7.50%	6.94%	6.48%	5.84%	4.46%	3.09%	1.47%	-0.00%	0.37%	-5.71%	-5.24%	-4.78%	-4.92%	1.42%	1.59%	-4.94%	-5.04%	-4.21%	-3.45%

December 31, 2024 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $398,508K ÷ $5,851,950K
= 6.81%

Kirby Corporation's operating return on assets (ROA) experienced a volatile trend over the analyzed periods, starting from negative values in the early quarters of 2020 and 2021. However, there was a significant positive turnaround in the performance starting from March 31, 2021, where the operating ROA improved to 1.59%. This positive trend continued through the following quarters of 2021 and into 2022, reaching a peak of 7.50% on September 30, 2024.

The company's operating ROA remained relatively stable and healthy in the latter part of the analysis period, with values consistently above 6%, indicating efficient utilization of assets to generate operating income. Despite a slight decline to 6.81% by December 31, 2024, Kirby Corporation demonstrated a strong ability to generate earnings from its asset base.

Overall, Kirby Corporation's operating ROA exhibited a noteworthy improvement and stabilization over the analyzed period, reflecting effective management of assets to drive profitability.