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Kadant Inc

KAI Industrials Specialty Industrial Machinery

Kadant Inc’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, roughly unchanged from fiscal 2024.

Revenue
+15.3%
EPS
+28.6%
Free cash flow
+15.9%
Total debt
+76.4%

Quarter to September 2026, against a year earlier

299.50 9.06 −2.94%
Market cap
$3.5B
P/E
30.0×
Fwd P/E
26.4×
Dividend yield
0.47%
F-score
5/9
Altman Z
4.70
Beneish M
−2.59
Dividend safety
92/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.86
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — 2 — — — — — —
Insider Ownership 1.18%

Capital & Financial Ratios $m

Size
Market Cap 3,540.00
Revenue ttm 1,193.74
Net income ttm 109.72
Free cash flow ttm 160.51
Net debt Q 316.60
Valuation
P/E 30.03
Forward P/E 26.40
Price / sales 2.96
Forward P/S Powerpack
Price / FCF 22.03
Price / book 3.42
Financial health
Current ratio Q 8.58 (at or above 1.5: strong)
Debt / equity Q 0.43 (at or below 0.5: strong)
Interest coverage Q 9.57
Growth
Revenue growth Q +15.32% (above 0%: growing)
Operating income growth Q +25.66% (above 0%: growing)
EPS, this year +36.81% (at or above 15%: strong)
EPS, next year A +10.72%
Revenue, next year A +13.95% (at or above 10%: strong)
EPS, past 5 yrs +12.64%
EPS, next 5 yrs A +4.08%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.2×, against a ten-year median of 2.8×; over the ten years it ranged from 1.0× in 2016 to 4.9× in 2024.
P/E against its own 10 years 62.78%
10-year low 10-year high
P/S against its own 10 years 65.09%
10-year low 10-year high
P/B against its own 10 years 52.37%
10-year low 10-year high
EV/Sales against its own 10 years 66.89%
10-year low 10-year high
EV/FCF against its own 10 years 55.26%
10-year low 10-year high

Dividends raised every year since 2018

Yield
0.47%
Annual rate
1.42
Payout ratio
14.3%
Growth, 2018–26
+6.32%/yr
  1. 0.87 ’18
  2. 0.91 ’19 +5
  3. 0.95 ’20 +4
  4. 0.99 ’21 +4
  5. 1.03 ’22 +4
  6. 1.13 ’23 +10
  7. 1.25 ’24 +11
  8. 1.34 ’25 +7
  9. 1.42 ’26 +6
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 106 96 123 139
Receivables 134 142 159 179
Inventory 153 146 207 207
Other 47 58 54 10
440 442 542 535
2023 2024 2025 Q'26
Payables 42 51 53 60
ST’ Debt 3 3 3 2
Other 119 83 112 —
214 192 228 62

Compound Annual Growth %

10y 5y 3y
Sales 10.43% 10.63% 5.16%
Cash Flow 15.55% 13.03% 18.63%
Earnings 11.48% 13.06% (5.53%)
Book Value 13.97% 14.81% 14.77%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 3.00 Actual 3.64

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 2.19 2.27 Beat by 0.08
Q1 FY26 2.35 2.84 Beat by 0.49
Q2 FY26 2.94 3.42 Beat by 0.48
Q3 FY26 3.00 3.64 Beat by 0.64
Q4 FY26 3.43 — Reports 17 February 2027

EPS $

Mar Jun Sep Dec Year
’26 2.16 2.75 3.02 — —
’25 2.04 2.22 2.35 2.04 8.65
’24 2.10 2.66 2.68 2.04 9.48
’23 2.40 2.54 2.63 2.33 9.90
’22 3.53 2.24 2.35 2.23 10.35
’21 1.43 1.96 1.75 2.07 7.21
’20 1.09 1.00 1.28 1.40 4.77
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 282 313 313 — —
’25 239 255 272 286 1,052
’24 249 275 272 258 1,053
’23 230 245 244 239 958
’22 226 222 225 232 905
’21 172 196 200 219 787
’20 159 153 155 168 635
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 22 54 — — —
’25 23 40 47 61 171
’24 23 28 52 52 155
’23 37 22 47 59 166
’22 24 19 25 35 103
’21 19 44 38 61 162
’20 6 22 24 40 93
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 19 43 — — —
’25 19 37 44 55 155
’24 18 23 48 46 136
’23 32 14 39 51 135
’22 22 12 19 23 77
’21 17 42 35 58 151
’20 3 21 23 38 85
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 414 515 634 705 635 787 905 958 1,053 1,052 1,194 +10.9% 1,199 1,268 — +9.8%
Gross margin, % 45.53 44.88 43.91 41.69 43.67 42.89 43.06 43.47 44.25 45.21 44.36 (0.3) pt
EBT 45 58 80 69 74 112 166 159 153 144 165 +13.9%
EBT margin, % 10.76 11.19 12.55 9.78 11.60 14.25 18.31 16.60 14.53 13.65 13.86 +2.9 pt
Net income 32 31 60 52 55 84 121 116 112 102 110 +13.7%
Per share, $
Per share, $ Revenue 38.10 46.86 57.17 62.72 55.31 67.93 77.63 81.85 89.73 89.38 101.09 +9.9%
Earnings 2.95 2.83 5.44 4.63 4.81 7.26 10.38 9.92 9.51 8.66 9.97 +12.7%
Cash flow 4.69 5.93 5.68 8.67 8.09 14.03 8.81 14.15 13.23 14.55 0.00 +13.4%
Capex (0.49) (1.56) (1.48) (0.85) (0.65) (0.95) (2.24) (2.58) (1.68) (1.43) 0.00 +12.5%
Free cash flow 4.20 4.37 4.21 7.82 7.44 13.07 6.57 11.57 11.55 13.13 0.00 +13.5%
Book value 26.16 30.25 33.79 38.01 43.28 48.85 56.25 66.35 73.10 84.18 90.03 +13.9%
Shares, m 11 11 11 11 11 12 12 12 12 12 12 +0.9%
Valuation, ×
Valuation, × P/E 21.02 34.74 14.97 22.70 29.31 31.79 17.29 27.66 36.28 32.91 30.03 26.9
P/S 1.63 2.11 1.42 1.68 2.55 3.39 2.31 3.35 3.84 3.19 2.96 2.5
P/B 2.37 3.26 2.41 2.77 3.26 4.72 3.19 4.14 4.72 3.39 3.42 3.4
EV/Sales 1.61 2.43 1.63 2.01 2.81 3.62 2.45 3.36 4.03 3.43 3.23 2.7
EV/FCF 14.61 26.02 22.15 16.12 20.90 18.79 28.91 23.76 31.30 23.34 24.01 22.6
Cash, $m
Cash, $m Operating cash flow 51 65 63 97 93 162 103 166 155 171 183 +14.4%
Capex (5) (17) (16) (10) (7) (11) (26) (30) (20) (17) (23) +13.5%
Free cash flow 46 48 47 88 85 151 77 135 136 155 161 +14.5%
Balance, $m
Balance, $m Working capital 118 134 124 151 155 162 202 226 251 314 473 +11.4%
Net debt (7) 165 130 233 167 175 121 4 193 252 317 n/m
Shareholders’ equity 284 333 375 427 497 566 656 776 858 991 1,063 +14.9%
Returns, %
Returns, % ROA 7.24 5.05 8.13 6.25 5.91 8.16 10.60 9.98 8.56 6.49 6.88 (0.8) pt
ROIC 10.52 7.74 10.98 8.32 7.64 9.84 13.78 13.27 10.19 7.91 8.35 (2.6) pt
ROE 11.62 10.08 17.09 12.99 11.95 15.82 19.80 16.21 13.66 11.03 0.00 (0.6) pt
People
People Employees 2,000 2,400 2,500 2,800 2,600 2,900 3,100 3,100 3,500 3,900 — +7.7%
Revenue/emp, $m 0.21 0.21 0.25 0.25 0.24 0.27 0.29 0.31 0.30 0.27 — +3.0%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Kadant Inc vs peers in Specialty Industrial Machinery (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MIDD The Middleby Corporation $5.9B — (loss-making) 21.5× +9.88% (above 0%: growing) −39.80% (below 0%: shrinking) −544.63% (below 0%: shrinking) 38.27% 16.87% Compare
NPO Enpro Inc. $5.5B 87.4× 44.4× +22.40% (above 0%: growing) +84.55% (above 0%: growing) +30.13% (above 0%: growing) 43.67% 18.04% Compare
CSW CSW Industrials, Inc. $4.5B 35.2× 30.1× +30.51% (above 0%: growing) +21.47% (above 0%: growing) +56.64% (above 0%: growing) 42.03% 20.90% Compare
FELE Franklin Electric Co., Inc. $4.2B 21.3× 21.1× +8.92% (above 0%: growing) +273.30% (above 0%: growing) −28.37% (below 0%: shrinking) 35.36% 13.65% Compare
MIR Mirion Technologies, Inc. $4.2B 146× 113× +24.52% (above 0%: growing) +222.00% (above 0%: growing) +255.64% (above 0%: growing) 47.34% 6.19% Compare
MWA MUELLER WATER PRODUCTS $3.9B 17.2× 15.6× +4.10% (above 0%: growing) +26.47% (above 0%: growing) +70.92% (above 0%: growing) 39.35% 20.36% Compare
XE X-Energy, Inc. $3.7B — — — n/m — 100.00% (201.52%) Compare
KAI Kadant Inc $3.5B 30.0× 26.4× +15.32% (above 0%: growing) +28.59% (above 0%: growing) +15.90% (above 0%: growing) 44.73% 17.10%
SXI Standex International Corporation $2.8B 24.8× 25.6× +6.96% (above 0%: growing) +58.73% (above 0%: growing) −13.24% (below 0%: shrinking) 44.37% 17.38% Compare
Median of peers $4.2B 30.0× 25.6× +9.88% +58.73% +30.13% 42.85% 17.13%

All 79 Specialty Industrial Machinery stocks →

Pay and ownership Proxy statement filed 1 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2024 6.13m 7.99m 249.89
2023 6.03m 8.89m —
2022 4.94m 3.32m —

Ownership

Directors and executive officers, together 1.30%
BlackRock, Inc. 15.10%
The Vanguard Group 10.30%
Kayne Anderson Rudnick Investment Management, LLC 10.10%
Wasatch Advisors LP 7.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Kadant Inc (KAI) Latest News

4 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript
Impact 3 · · Simply Wall St.
Impact 3 · · Moby
Impact 3 · · Simply Wall St.

3 Nov

Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · StockStory
Impact 3 · · Associated Press
Impact 3 · · GlobeNewswire

29 Oct

Impact 3 · · GlobeNewswire

23 Oct

Impact 3 · · StockStory

20 Oct

Impact 3 · · Zacks

19 Oct

Impact 4 · · MoneyShow

9 Oct

Impact 3 · · StockStory

25 Sep

Impact 4 ·

21 Sep

Impact 3 · · StockStory

10 Sep

Impact 3 ·

11 Aug

Impact 4 · · The Motley Fool transcript

8 Aug

Impact 3 · · MarketBeat

5 Aug

Impact 4 ·
Impact 4 ·

4 Aug

Impact 3 ·
Impact 3 ·

4 Jun

Impact 3 · · StockStory

22 May

Impact 5 · · Simply Wall St.

21 May

Impact 3 · · GlobeNewswire

14 May

Impact 3 · · StockStory

11 May

Impact 4 · · MarketBeat

7 May

Impact 4 · · The Motley Fool transcript

KAI metrics, ten years each

stockrow.com/KAI · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com