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Intrinsic value of Kirby Corporation (KEX)

Previous Close$63.16
Intrinsic Value
Upside potential
Previous Close
$63.16
Use floor (the cash flow based valuation has rendered a result, which is lower than an estimated minimum value derived from the company’s balance sheet analysis)

VALUATION INPUT DATA (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh38.75 

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

Registered users can save their valuation input data

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

Company description

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii. This segment also transports petrochemicals, black oil, refined petroleum products, and agricultural chemicals by tank barges; and operates offshore dry-bulk barge and tugboat units that are engaged in the offshore transportation of dry-bulk cargoes in the United States coastal trade. As of December 31, 2019, this segment owned and operated 1,053 inland tank barges with 23.4 million barrels of capacity, 299 inland towboats, 49 coastal tank barges with 4.7 million barrels of capacity, 47 coastal tugboats, 4 offshore dry-bulk cargo barges, 4 offshore tugboats, and 1 docking tugboat. The company's Distribution and Services segment sells replacement parts; provides service mechanics to overhaul and repair engines, transmissions, reduction gears, and related oilfield services equipment; rebuilds component parts or diesel engines, transmissions and reduction gears, and related equipment used in oilfield services, marine, power generation, on-highway, and other industrial applications; rents industrial compressors, railcar movers, and high capacity lift trucks; and manufactures and remanufactures oilfield service equipment, including pressure pumping units. It serves oilfield service, on-highway transportation, marine transportation, commercial fishing, construction, and power generation companies, as well as oil and gas operators and producers, and the United States government. The company was formerly known as Kirby Exploration Company, Inc. and changed its name to Kirby Corporation in 1990. Kirby Corporation was founded in 1921 and is headquartered in Houston, Texas.

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FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %3.5NaN
Revenue, $2247NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m2505NaN
Operating income, $m-258NaN
EBITDA, $m-11NaN
Interest expense (income), $mNaN
Earnings before tax, $m-291NaN
Tax expense, $m-44NaN
Net income, $m-247NaN

BALANCE SHEET

Cash and short-term investments, $m35NaN
Total assets, $m5399NaN
Adjusted assets (=assets-cash), $m5364NaN
Average production assets, $m4582NaN
Working capital, $m460NaN
Total debt, $m1357NaN
Total liabilities, $m2513NaN
Total equity, $m2886NaN
Debt-to-equity ratio0.470NaN
Adjusted equity ratio0.538NaN

CASH FLOW

Net income, $m-247NaN
Depreciation, amort., depletion, $m247NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m322NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-47NaN
Free cash flow, $m368NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m460
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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