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Kirby cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$73.9M in Q3 2026 · $389M over twelve months

Operating cash flow$143M
Capital spending−$69.5M
Free cash flow+$73.9M
Cash / net income1.3×

Analysis

In Q3 2026, Kirby generated $143M of operating cash flow and spent $69.5M on capital projects, leaving free cash flow of $73.9M. That is $86.3M less than in Q3 2025 ($160M).

Over the twelve months to Sep 30, 2026, operating cash flow was $626M; the largest uses were buybacks ($326M), capital spending ($236M), acquisitions ($105M); besides operations, cash came from net borrowing (+) / repaid (−) ($22.8M), asset & business sales ($12.5M); the cash balance fell by $8.7M.

Operating cash flow was $143M against net income of $111M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$71.6M, stock-based pay +$2.4M, gains on disposals +$813K.

Free cash flow

Kirby: free cash flow by quarterKirby: free cash flow by quarter$151MQ4 2024−$42.1MQ1 2025$22.4MQ2 2025$160MQ3 2025$265MQ4 2025$49.4MQ1 2026$758KQ2 2026$73.9MQ3 2026
Operating cash flow less capital spending.
Kirby: operating cash flow against capital spendingKirby: operating cash flow against capital spendingOperating cash flowCapital spending$247M$96.7MQ4 2024$36.5M$78.7MQ1 2025$93.9M$71.5MQ2 2025$228M$67.3MQ3 2025$312M$47.0MQ4 2025$97.7M$48.3MQ1 2026$72.3M$71.5MQ2 2026$143M$69.5MQ3 2026
Latest (Q3 2026): Operating cash flow $143M, Capital spending $69.5M.

Capital allocation, year by year

Kirby: where the cash came from (up) and went (down), by fiscal yearKirby: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $322MFY2021: Net borrowing −$308MFY2021: Shares issued $629KFY2021: Asset sales $51.3MFY2021: Capital spending −$98.0MFY2021: Acquisitions −$9.1M$374MFY2021FY2022: Operating cash flow $294MFY2022: Net borrowing −$394MFY2022: Shares issued $3.9MFY2022: Asset sales $36.9MFY2022: Capital spending −$173MFY2022: Acquisitions −$3.9MFY2022: Buybacks −$22.9M$335MFY2022FY2023: Operating cash flow $540MFY2023: Net borrowing −$301MFY2023: Shares issued $4.2MFY2023: Asset sales $26.1MFY2023: Capital spending −$402MFY2023: Acquisitions −$37.5MFY2023: Buybacks −$113M$571MFY2023FY2024: Operating cash flow $756MFY2024: Net borrowing −$144MFY2024: Shares issued $9.4MFY2024: Asset sales $20.4MFY2024: Capital spending −$343MFY2024: Acquisitions −$77.9MFY2024: Buybacks −$175M$786MFY2024FY2025: Operating cash flow $670MFY2025: Net borrowing $44.1MFY2025: Shares issued $4.9MFY2025: Asset sales $31.0MFY2025: Capital spending −$264MFY2025: Acquisitions −$116MFY2025: Buybacks −$354M$750MFY2025
Over these 5 years operating cash flow totalled $2.6B; the largest uses were capital spending ($1.3B) and net borrowing ($1.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$38.3M
Debt$1.1B
Net debt$1.0B
Due within a year$7.4M

Kirby funds itself: free cash flow was $389M over the last twelve months, and $38.3M of cash and investments stands against $1.1B of debt ($7.4M due within a year, 5.2× covered by cash).

Kirby: debt maturities by year (FY2025)Kirby: debt maturities by year (FY2025)$7.4MYear 1$115MYear 2$500MYear 3$300MAfter year 5
Principal due in each year as disclosed in the annual report, against $38.3M of cash and investments now.

Where the cash came from and went

Kirby: sources (+) and uses (−) of cash, Q3 2026Kirby: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$143MBuybacks−$112MCapital spending−$69.5MNet borrowing (+) / repaid (−)$34.1MAsset & business sales$3.2MCash drawn (+) / kept (−)$665KOther financing−$30KTaxes on employees’ shares−$24K
Kirby: sources (+) and uses (−) of cash, TTM to Q3 2026Kirby: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$626MBuybacks−$326MCapital spending−$236MAcquisitions−$105MNet borrowing (+) / repaid (−)$22.8MAsset & business sales$12.5MShares issued$9.0MCash drawn (+) / kept (−)$8.7MTaxes on employees’ shares−$6.7MOther financing−$4.7M

From profit to cash

Kirby: net income to operating cash flow, Q3 2026Kirby: net income to operating cash flow, Q3 2026Net income$111MDepreciation & amortization$71.6MStock-based pay$2.4MDeferred taxes−$4KGains on disposals$813KOther non-cash$314KOperating cash flow$143M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$143M−$69.5M—−$112M$34.1M—$665K$73.9M
Q2 2026$72.3M−$71.5M−$14.4M−$59.7M$54.9M—$19.1M$758K
Q1 2026$97.7M−$48.3M−$81.4M−$52.7M$63.7M$4.3M$20.8M$49.4M
Q4 2025$312M−$47.0M−$9.3M−$102M−$130M$4.7M−$31.8M$265M
Q3 2025$228M−$67.3M−$9.2M−$120M−$69.2M—$21.4M$160M
Q2 2025$93.9M−$71.5M—−$31.2M$19.1M—−$17.3M$22.4M
Q1 2025$36.5M−$78.7M−$97.2M−$101M$224M$262K$23.4M−$42.1M
Q4 2024$247M−$96.7M−$12.6M−$33.3M−$105M$1.0M−$7.4M$151M

Kirby: income statement and cash flow

Kirby, Q3 2026: revenue $977M (+12% year over year), operating margin 15.4%. The chart follows the revenue to costs, profit and cash.

Kirby: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.