Kirby Corporation (KEX)

Financial leverage ratio

		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
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
Total stockholders’ equity	US$ in thousands	3,351,810	3,302,330	3,261,460	3,215,650	3,185,430	3,158,080	3,112,810	3,085,140	3,045,170	2,975,360	2,929,740	2,911,860	2,888,780	2,846,220	3,105,330	3,088,740	3,087,550	3,075,260	3,048,880	3,124,530
Financial leverage ratio		1.75	1.78	1.80	1.80	1.80	1.80	1.79	1.81	1.82	1.83	1.84	1.85	1.87	1.89	1.86	1.87	1.92	1.94	1.97	1.96

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $5,851,950K ÷ $3,351,810K
= 1.75

The financial leverage ratio of Kirby Corporation has been gradually declining over the years from 1.96 as of March 31, 2020, to 1.75 as of December 31, 2024. This indicates that the company has been reducing its reliance on debt to finance its operations and investments. A decreasing trend in the financial leverage ratio suggests that Kirby Corporation has been strengthening its financial position by lowering its debt levels relative to its equity. A lower leverage ratio can be seen as a positive indicator of financial health, as it signifies a lower risk of default and a lower financial risk for the company. It shows that Kirby Corporation is becoming less reliant on debt financing, which can lead to increased stability and resilience in the face of economic challenges. This could improve the company's ability to weather downturns and take advantage of growth opportunities.