Kirby Corporation (KEX)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 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 |
Based on the provided data for Kirby Corporation, the solvency ratios indicate a very strong financial position in terms of debt management. The Debt-to-assets ratio, Debt-to-capital ratio, and Debt-to-equity ratio have consistently remained at 0.00 from March 2020 to December 2024. This suggests that the company has no debt relative to its assets, capital, and equity during the entire period, indicating a low level of financial risk and a stable financial structure.
Furthermore, the Financial leverage ratio has shown a decreasing trend from 1.96 in March 2020 to 1.75 in December 2024. A decreasing trend in the financial leverage ratio signifies that the company has been reducing its reliance on debt to finance its operations and investments over time, which is a positive indicator of financial health and stability.
Overall, based on the solvency ratios provided, Kirby Corporation appears to have a strong financial position with minimal debt levels and prudent debt management practices, which bodes well for its ability to weather economic downturns and support future growth initiatives.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 9.06 | 8.44 | 7.46 | 6.88 | 6.06 | 5.57 | 5.11 | 4.58 | 4.33 | 3.81 | -4.74 | -5.28 | -5.78 | -5.79 | 1.89 | 2.06 | -8.33 | -8.23 | -6.93 | -5.90 |
Kirby Corporation's interest coverage ratio provides insight into the company's ability to meet its interest obligations from its operating income. A higher ratio indicates a stronger ability to cover interest expenses. Over the observed period, the interest coverage ratio for Kirby Corporation has fluctuated significantly.
From March 31, 2020, to June 30, 2021, Kirby Corporation experienced negative interest coverage ratios, indicating that the company's operating income was insufficient to cover its interest expenses during these periods. This raised concerns about the company's ability to meet its interest obligations.
However, starting from March 31, 2021, the interest coverage ratio turned positive, indicating an improvement in financial performance. The ratio continued to increase steadily throughout 2022 and 2023, reaching higher levels each period. This trend suggests that Kirby Corporation's operating income was more than sufficient to cover its interest expenses during these periods.
By the end of December 31, 2024, Kirby Corporation's interest coverage ratio had steadily risen to 9.06, which signifies a strong ability to cover interest expenses. This improvement indicates that the company's financial position regarding its ability to meet interest obligations had significantly strengthened compared to the earlier periods.
In conclusion, the analysis of Kirby Corporation's interest coverage ratio shows a positive turnaround from negative ratios to consistently improving ratios, reflecting a healthier financial position in terms of meeting interest obligations over the specified time frame.