• Kirby average debt/equity ratio for 2023 was 0.33, a 13.16% decline from 2022.
• Kirby average debt/equity ratio for 2022 was 0.38, a 9.52% decline from 2021.
• Kirby average debt/equity ratio for 2021 was 0.42, a 19.23% decline from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.