Kirby Corporation (KEX)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,008,530 | 1,076,330 | 1,161,430 | 1,468,550 | 1,369,750 |
| Total stockholders’ equity | US$ in thousands | 3,185,430 | 3,042,880 | 2,886,320 | 3,084,310 | 3,368,620 |
| Debt-to-capital ratio | 0.24 | 0.26 | 0.29 | 0.32 | 0.29 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,008,530K ÷ ($1,008,530K + $3,185,430K)
= 0.24
The debt-to-capital ratio of Kirby Corp. has been relatively stable over the last five years, declining from 0.29 in 2019 to 0.24 in 2023. This ratio measures the proportion of the company's total debt to its total capital, which includes both debt and equity.
A lower debt-to-capital ratio indicates that Kirby Corp. relies less on debt financing and has a stronger financial position. The downward trend in the ratio from 2019 to 2023 suggests that the company has been reducing its debt levels or increasing its equity compared to its total capital.
Overall, Kirby Corp.'s decreasing debt-to-capital ratio over the years indicates improved financial health and a potentially lower financial risk due to a reduced reliance on debt to fund its operations.
Peer comparison
Dec 31, 2023