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Kirby vs Tidewater: KEX and TDW compared

Kirby is the larger company: $977M of revenue in its latest quarter (Q3 2026) against $342M for Tidewater (Q2 2026). Kirby is growing faster (+12% against +0.3% a year earlier). Tidewater is more profitable, with an operating margin of 18.3% against 15.4%.

Kirby vs Tidewater, latest quarterKirby vs Tidewater, latest quarterKirby (KEX)Tidewater (TDW)Revenue$977M$342MRevenue growth, Y/Y+12%+0.3%Operating margin15.4%18.3%Net margin11.3%6.3%Free cash flow$74.0M$52.1M

Where the money goes: KEX and TDW

Kirby (KEX) · Q3 2026

Kirby, Q3 2026: revenue $977M (+12% year over year), operating margin 15.4%, net earnings $111M, operating cash flow $143M. The chart follows the revenue to costs, profit and cash.

Tidewater (TDW) · Q2 2026

Tidewater, Q2 2026: revenue $342M (+0.3% year over year), operating margin 18.3%, net earnings $21.7M, operating cash flow $67.0M. The chart follows the revenue to costs, profit and cash.

Kirby revenue by segment, Q3 2026Kirby revenue by segment, Q3 2026Marine Transportation$569MDistribution and Services$408M
Tidewater revenue by segment, Q2 2026Tidewater revenue by segment, Q2 2026Vessel$340MProduct and Service, Other$2.6M
Kirby (KEX)Tidewater (TDW)
Latest quarterQ3 2026Q2 2026
Revenue$977M$342M
Revenue growth, Y/Y+12%+0.3%
Operating margin15.4%18.3%
Net earnings$111M$21.7M
Net margin11.3%6.3%
Operating cash flow$143M$67.0M
Free cash flow$74.0M$52.1M
Market value$6.4B$3.5B
P/E17.2×14.3×
Analysts’ mean target$174.71$96.75

Where the revenue comes from

Kirby

Tidewater

Questions

Which is bigger, Kirby or Tidewater?

Kirby is the larger company: $977M of revenue in its latest quarter (Q3 2026) against $342M for Tidewater (Q2 2026).

Is Kirby or Tidewater growing faster?

Kirby is growing faster (+12% against +0.3% a year earlier).

Which is more profitable, Kirby or Tidewater?

Tidewater is more profitable, with an operating margin of 18.3% against 15.4%.

More: Kirby earnings · how Kirby makes money · Tidewater earnings · how Tidewater makes money

From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Aug 3, 2026). Fiscal quarters can end on different dates. Not investment advice.