KEX
Kirby Corporation
NYSE: KEX · INDUSTRIALS · MARINE SHIPPING
$146.09
-1.18% today
Updated 2026-06-05
Market cap
$7.67B
P/E ratio
22.06
P/S ratio
2.24x
EPS (TTM)
$6.50
Dividend yield
—
52W range
$80 – $158
Volume
0.6M
Kirby Corporation (KEX) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed KEX price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$146.09
Today
Analyst consensus
$146.20
+0.08% · 12M
2030 Base
$124.86
-14.53% future
NPV today
$83.22
@ 9% WACC
7 analysts:
5 Buy2 Hold0 Sell
Management guidance
Kirby raised full-year 2026 EPS growth guidance to 5-15% range (from prior unspecified guidance). CEO commentary emphasizes strong utilization rates across marine fleets, improving pricing in coastal marine segment, and power generation growth as key drivers. No explicit 2030 revenue target disclosed, but management highlighted acquisition-driven growth strategy ($95.8M in barges acquired in Q1 2026) and confidence in continued market strength through 2026.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
KEX · Kirby Corporation · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$124.86
NPV today: $83.22
Base case (2030)
$124.86
NPV today: $83.22
Bull case (2030)
$218.31
NPV today: $145.50
WallStSmart.com
KEX financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $3.4B | $3.7B | $4.0B | $4.4B | $4.7B | $5.0B |
| Revenue growth | 3.0% | 9.5% | 9.2% | 8.9% | 7.8% | 6.9% |
| Net margin | — | 11.4% | 12.2% | 13.1% | 13.5% | 13.8% |
| EPS | $6.33 | $7.85 | $9.15 | $10.65 | $11.85 | $12.90 |
| Diluted shares | — | 54M | 54M | 54M | 54M | 54M |
| Net debt | — | $-351.08M | $-648.54M | $-972.64M | $-1.32B | $-1.70B |
| P/S multiple | — | 1.0x | 1.0x | 1.0x | 1.0x | 1.0x |
| Implied price (base) | — | $75.20 | $86.91 | $99.45 | $112.03 | $124.86 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $5.0B | $5.0B | $5.0B |
| P/S multiple | 1.0x | 1.0x | 2.0x |
| Diluted shares | 54M | 54M | 54M |
| Net debt | $-1.70B | $-1.70B | $-1.70B |
| Implied P/E † | 10x | 10x | 17x |
| 2030 Price | $124.86 | $124.86 | $218.31 |
| NPV @ 9% | $83.22 | $83.22 | $145.50 |
† Implied P/E: Multiples remain elevated across all three scenarios because KEX is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $124.86 base case
KEX catalysts and risks
Growth catalysts
+ Coastal marine utilization expansion and pricing improvement trajectory through 2027-2028
+ Power generation segment growth acceleration driven by energy infrastructure and grid resilience capex
+ Organic fleet expansion and strategic M&A to capture market share in inland barge and offshore supply vessel markets
+ Energy sector recovery and increased demand for marine transportation of crude and chemical products
+ Fleet replacement cycle and customer capex plans supporting multi-year growth visibility
Key risks
- Recession-driven decline in coastal shipping demand and pricing power deterioration
- Oil & Gas market softness persisting longer than management expects (currently cited as near-term headwind)
- Weather disruptions and OEM engine supply constraints impacting utilization and revenue
- Insider selling signal (President/COO and EVP sold shares in May 2026) suggests potential valuation concerns
- Competitive pressure in marine transportation and inability to maintain pricing gains
Methodology · Kirby Corporation 2030 stock forecast model
Kirby Corporation 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 7 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (1% cumulative for KEX by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($-1.70B by 2030) |
| 3. Time value | NPV calculated using 9% WACC (CAPM: beta 0.855) |
| 4. Multiple framework | P/S compresses with scale: bear 1.0x / base 1.0x / bull 2.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 21, 2026.
KEX price target FAQ
What is the KEX price target for 2030?
WallStSmart's Kirby Corporation 2030 base case is $124.86 per share, with a bull case of $218.31 and bear case of $124.86. The NPV of the base case discounted to today at 9% WACC is $83.22.
How is the Kirby Corporation 2030 stock forecast calculated?
The KEX 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the KEX price target account for dilution?
Kirby Corporation is projected to grow diluted share count from 53M to 54M by 2030 (a 1% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 1%.
What is the analyst consensus on KEX stock?
7 analysts cover KEX with an average 12-month price target of $146.20. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.