Kirby Corporation (KEX)

Return on assets (ROA)

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	222,935	198,338	174,465	145,555	122,291	95,943	-207,878	-226,145	-246,954	-235,711	56,508	71,320	-272,546	-291,973	-271,475	-249,190	142,347	115,133	108,962	90,277
Total assets	US$ in thousands	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	6,263,330	6,079,100	6,127,880	6,232,890	6,300,690
ROA		3.90%	3.49%	3.13%	2.61%	2.20%	1.76%	-3.85%	-4.20%	-4.57%	-4.37%	0.98%	1.23%	-4.60%	-4.88%	-4.51%	-3.98%	2.34%	1.88%	1.75%	1.43%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $222,935K ÷ $5,722,200K
= 3.90%

Kirby Corp.'s return on assets (ROA) has shown a positive trend over the past eight quarters, indicating an improvement in the company's asset utilization efficiency and profitability. The ROA has steadily increased from 2.20% in Q4 2022 to 3.89% in Q4 2023. This suggests that the company has been able to generate more profits relative to its assets, reflecting better management of its asset base.

The company's ROA turned negative in Q2 2022 and Q1 2022, indicating that Kirby Corp. experienced difficulties generating profits from its assets during that period. However, the company was able to reverse this trend and achieve positive ROA figures in subsequent quarters.

Overall, the increasing trend in ROA for Kirby Corp. signals the company's ability to effectively utilize its assets to generate profits for its shareholders. However, further analysis is recommended to understand the specific factors driving this improvement and to assess the sustainability of this positive trend in the future.