Cadeler A/S vs KIRBY CORPORATION, two Marine Shipping stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Cadeler installs offshore-wind turbines on the open sea; Kirby pushes barges up American rivers and along the coast. Both are marine transport, at opposite ends of exotic. Cadeler's margins tower over Kirby's, 45.17% net against 10.51%, and its return on equity, 18.63%, beats Kirby's 10.53%. But Kirby generates steady free cash, a 6.74% yield, while Cadeler's heavy vessel program pushes its free-cash-flow yield to negative 12.34%. Both carry manageable debt, Kirby at 0.29 and Cadeler at zero. Valuations differ: Cadeler at 24.32 times earnings and 4.54 times book, Kirby at 21.02 times and 2.16 times. Cadeler offers a niche growth buildout, Kirby a slow, dependable inland network, and the cash profiles could hardly differ more.
Comparison updated 2026-07-11.
| Metric | CDLR | KEX |
|---|---|---|
| Price | $22.46 | $143.68 |
| Market cap | $7.9B | $7.8B |
| Sector | Marine Shipping | Marine Shipping |
| Stage | Growth | Mature |
| Implied growth (priced in) | +14.7% | +14.8% |
| P/E | 25.8 | 22.1 |
| P/B | 4.82 | 2.27 |
| P/S | 11.67 | 2.27 |
| EV/EBITDA | 22.1 | 11.3 |
| Revenue growth | +88.8% | +5.5% |
| Gross margin | 61.8% | — |
| Operating margin | 51.2% | 12.8% |
| Net margin | 45.2% | 10.5% |
| Return on equity | 18.6% | 10.5% |
| Return on assets | 8.2% | 5.9% |
| Return on invested capital | 20.6% | 8.8% |
| FCF yield | -11.6% | 6.4% |
| Debt / equity | 0.00 | 0.29 |
| Current ratio | 1.11 | 1.59 |
| Altman Z (solvency) | 2.91 | 7.48 |
| Piotroski F (quality) | 8 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.