Kadant Inc. (KAI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$2.77	$3.42	+23.5%	—	—	—
Q4 26	$2.19	$2.84	+29.7%	—	—	—
Q3 26	$2.19	$2.27	+3.7%	—	—	—
Q2 26	$2.16	$2.59	+19.9%	—	—	—
Q1 26	$1.94	$2.31	+19.1%	—	—	—
Q4 25	$1.97	$2.1	+6.6%	—	—	—
Q3 25	$2.05	$2.25	+9.8%	—	—	—
Q2 25	$2.43	$2.84	+16.9%	—	—	—
Q1 25	$2.43	$2.81	+15.6%	—	—	—
Q4 24	$1.96	$2.38	+21.4%	—	—	—
Q3 24	$2.1	$2.41	+14.8%	—	—	—
Q2 24	$2.27	$2.63	+15.9%	—	—	—
Q1 24	$2.14	$2.54	+18.7%	—	—	—
Q4 23	$2.19	$2.4	+9.6%	—	—	—
Q3 23	$2.03	$2.33	+14.8%	—	—	—
Q2 23	$2.13	$2.38	+11.7%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$8.66	—	—	$1.1B	—
FY24	—	$9.51	—	—	$1.1B	—
FY23	—	$9.92	—	—	$957.7M	—
FY22	—	$10.4	—	—	$904.7M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$414.1M	$515M	$633.8M	$704.6M	$635M	$786.6M	$904.7M	$957.7M	$1.1B	$1.1B
YoY change	+6.16%	+24.4%	+23.1%	+11.2%	-9.88%	+23.9%	+15%	+5.85%	+9.99%	-0.11%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	414.1M	515M	633.8M	704.6M	635M	786.6M	904.7M	957.7M	1.1B	1.1B
Cost of revenue	225.6M	283.9M	355.5M	410.9M	357.7M	449.2M	515.2M	541.4M	587.2M	576.5M
Gross profit	188.5M	231.1M	278.3M	293.8M	277.3M	337.4M	389.6M	416.3M	466.1M	475.7M
Gross margin	45.5%	44.9%	43.9%	41.7%	43.7%	42.9%	43.1%	43.5%	44.3%	45.2%
Research & development	7.4M	9.6M	10.6M	10.9M	11.3M	11.4M	12.7M	13.6M	14.3M	15.3M
Selling, general & administrative	134.8M	159.8M	177.4M	192.5M	181.9M	208.8M	224.4M	236.3M	279.9M	301.9M
Operating expenses	142.2M	169.3M	188M	203.4M	193.2M	220.2M	237.1M	249.8M	294.2M	317.1M
Operating income	46.3M	61.8M	90.3M	90.4M	84.1M	117.2M	152.4M	166.5M	171.9M	158.6M
Operating margin	11.2%	12%	14.3%	12.8%	13.2%	14.9%	16.8%	17.4%	16.3%	15.1%
Non-operating income, net	-752K	-1.1M	-4.1M	-8.9M	-3.2M	-569K	18.8M	-824K	-727K	-1.4M
Pretax income	44.5M	57.7M	79.5M	68.9M	73.7M	112.1M	165.6M	159M	153.1M	143.6M
Income tax	12.1M	26.1M	18.5M	16.4M	17.9M	27.2M	43.9M	42.2M	40.5M	39.9M
Net income	32.5M	31.6M	61M	52.6M	55.7M	84.9M	121.7M	116.8M	112.6M	103.7M
Net margin	7.84%	6.13%	9.63%	7.46%	8.78%	10.8%	13.5%	12.2%	10.7%	9.85%
EBITDA	59.9M	80.8M	111.8M	116.6M	115.4M	151.6M	188.2M	201.4M	223.3M	211.7M
EPS	2.95	2.83	5.45	4.63	4.81	7.26	10.4	9.92	9.51	8.66
Diluted EPS	2.88	2.75	5.3	4.54	4.77	7.21	10.3	9.9	9.48	8.65

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	244.2M	238.7M	249M	274.8M	271.6M	258M	239.2M	255.3M	271.6M	286.2M	281.5M	312.9M
Cost of revenue	138.5M	136.7M	138M	152.9M	150.2M	146.2M	128.9M	138.2M	148.9M	160.5M	154.8M	175.9M
Gross profit	105.7M	102M	111M	121.9M	121.4M	111.9M	110.3M	117M	122.7M	125.7M	126.7M	137M
Gross margin	43.3%	42.7%	44.6%	44.4%	44.7%	43.4%	46.1%	45.9%	45.2%	43.9%	45%	43.8%
Research & development	3.3M	3.5M	3.7M	3.5M	3.4M	3.7M	3.5M	3.7M	3.9M	4.1M	4.1M	4.5M
Selling, general & administrative	57.9M	59.8M	70.3M	70M	69M	70.6M	71.2M	73.9M	75.8M	80.9M	82.5M	81.6M
Operating expenses	61.2M	63.3M	74M	73.5M	72.5M	74.3M	74.7M	77.7M	80M	85M	86.6M	86.1M
Operating income	44.5M	38.7M	36.9M	48.4M	49M	37.6M	35.6M	39.4M	42.6M	41M	40.1M	50.9M
Operating margin	18.2%	16.2%	14.8%	17.6%	18%	14.6%	14.9%	15.4%	15.7%	14.3%	14.2%	16.3%
Non-operating income, net	-989K	281K	-30K	-2K	-16K	-679K	-16K	-17K	-19K	-1.3M	-13K	-32K
Pretax income	41.9M	38M	32.8M	43.6M	43.9M	32.8M	32.3M	36.5M	39.9M	35M	36M	46M
Income tax	10.8M	10.4M	7.9M	12M	12M	8.7M	7.8M	9.8M	11.8M	10.5M	10.1M	13.2M
Net income	31M	27.6M	25M	31.6M	31.9M	24.1M	24.4M	26.6M	28.1M	24.5M	25.8M	32.8M
Net margin	12.7%	11.5%	10%	11.5%	11.7%	9.34%	10.2%	10.4%	10.4%	8.56%	9.17%	10.5%
EBITDA	53.2M	47.7M	49.2M	60.8M	62.2M	51.2M	48.1M	51.9M	55.4M	55M	55.1M	66.9M
EPS	2.64	2.34	2.11	2.66	2.69	2.05	2.05	2.22	2.35	2.04	2.16	2.75
Diluted EPS	2.63	2.33	2.1	2.66	2.68	2.04	2.04	2.22	2.35	2.04	2.16	2.75

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	665.2M	1.1B	903.1M	1.2B	1.6B	2.7B	2.1B	3.3B	4B	3.4B	3.2B
Enterprise value	660.1M	1.3B	1B	1.4B	1.8B	2.8B	2.2B	3.3B	4.2B	3.6B	3.6B
Shares outstanding	10.9M	11M	11.1M	11.2M	11.5M	11.6M	11.7M	11.7M	11.7M	11.8M	11.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	20.5	34.9	14.8	22.5	29	31.4	17	28.1	36	32.4	28.8
P/S	1.61	2.14	1.42	1.68	2.55	3.39	2.29	3.42	3.84	3.19	2.75
P/B	2.34	3.32	2.41	2.77	3.26	4.72	3.16	4.23	4.72	3.39	3.1
EV/EBITDA	11	15.7	9.24	12.2	15.5	18.8	11.7	16.3	19	17.1	15.1
EV/Sales	1.59	2.47	1.63	2.01	2.81	3.62	2.43	3.43	4.03	3.43	3.14
Earnings yield	4.88%	2.86%	6.76%	4.44%	3.44%	3.18%	5.88%	3.56%	2.78%	3.09%	3.47%
FCF yield	6.79%	4.34%	5.14%	7.39%	5.27%	5.61%	3.6%	4.08%	3.32%	4.6%	3.32%
PEG	—	—	—	—	—	—	—	—	—	—	1.21

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	45.5%	44.9%	43.9%	41.7%	43.7%	42.9%	43.1%	43.5%	44.3%	45.2%	43.8%
Operating margin	11.2%	12%	14.3%	12.8%	13.2%	14.9%	16.8%	17.4%	16.3%	15.1%	16.8%
Net margin	7.84%	6.13%	9.63%	7.46%	8.78%	10.8%	13.5%	12.2%	10.7%	9.85%	9.52%
ROE	11.4%	9.5%	16.3%	12.3%	11.2%	15%	18.6%	15%	13.1%	10.5%	11.3%
ROA	6.9%	4.15%	8.41%	5.6%	6.01%	7.5%	10.6%	9.94%	7.87%	6.06%	6.79%
ROIC	12.1%	6.79%	13.7%	10.4%	9.57%	11.9%	14.4%	15.6%	12%	9.19%	8.79%
Return on tangible assets	52.1%	-77.1%	-353%	-65.3%	-57%	-140.9%	439.8%	160.2%	-129.4%	-103.9%	-79.3%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.33	2.01	1.96	2.04	2.15	1.73	1.95	2.05	2.31	2.38	2.59
Quick ratio	1.71	1.37	1.29	1.33	1.36	1.13	1.18	1.34	1.55	1.47	1.63
Debt / equity	0.23	0.73	0.47	0.7	0.47	0.48	0.31	0.14	0.34	0.38	0.49
Debt / assets	0.14	0.32	0.24	0.32	0.25	0.24	0.17	0.09	0.2	0.22	0.27
Net debt / EBITDA	-0.08	2.06	1.16	2.01	1.45	1.18	0.66	0.03	0.87	1.2	1.62
Interest coverage	35.5	17.3	12.3	6.4	10.9	24.2	26.6	19.9	8.64	10.2	9.61
Effective tax rate	27.1%	45.2%	23.2%	23.7%	24.4%	24.2%	26.5%	26.5%	26.5%	27.8%	29.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	38.1	46.9	57.2	62.7	55.3	67.9	77.6	81.9	89.7	89.4	97.7
EPS (basic)	2.95	2.83	5.45	4.63	4.81	7.26	10.4	9.92	9.51	8.66	8.66
EPS (diluted)	2.88	2.75	5.3	4.54	4.77	7.21	10.3	9.9	9.48	8.65	9.31
Book value per share	26.2	30.3	33.8	38	43.3	48.8	56.3	66.3	73.1	84.2	86.6
FCF per share	4.16	4.36	4.19	7.78	7.43	12.9	6.39	11.4	11.4	13.1	13.5
Cash per share	6.58	6.86	4.13	5.94	5.72	7.88	6.55	8.87	8.06	10.2	11.4
Capex per share	0.49	1.56	1.48	0.85	0.65	0.95	2.24	2.58	1.68	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.3%	3.33%	2.58%	1.36%	1.17%	1.4%	2.88%	3.15%	1.87%	—	—
Capex / operating cash flow	10.6%	26.5%	26.8%	10.7%	8.22%	6.8%	21.6%	18.2%	12.8%	—	—
Payout ratio	24.8%	28.5%	15.8%	19.4%	19.6%	13.5%	9.86%	11.3%	13%	15.2%	14.8%
Dividend yield	1.21%	0.82%	1.07%	0.86%	0.67%	0.43%	0.58%	0.4%	0.36%	0.47%	0.53%

Yield

0.53%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.36

ex-dividend Jul 16, 2026

Payout ratio

15%

of earnings

Dividend growth

12 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 16, 2026	$0.36
Apr 15, 2026	$0.36
Jan 8, 2026	$0.34
Oct 9, 2025	$0.34
Jul 10, 2025

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$244.2M	$238.7M	$249M	$274.8M	$271.6M	$258M	$239.2M	$255.3M	$271.6M	$286.2M	$281.5M	$312.9M
YoY change	+8.76%	+2.83%	+8.36%	+12.1%	+11.2%	+8.11%	-3.92%	-7.1%	-0.02%	+10.9%	+17.7%	+22.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	71.5M	75.4M	45.8M	66.8M	65.7M	91.2M	76.4M	103.8M	94.7M	119.6M
Receivables	66M	89.6M	92.6M	95.7M	91.5M	117.2M	130.3M	133.9M	142.5M	158.6M
Inventory	55M	84.9M	86.4M	102.7M	106.8M	134.4M	163.7M	152.7M	146.1M	206.9M
Total current assets	207.3M	266M	252.8M	297.6M	289.8M	383.9M	415.4M	440.2M	442.3M	541.9M
Property, plant & equipment	8M	31.6M	21.3M	27.5M	23.9M	40.2M	49.9M	47.9M	65.3M	70.1M
Goodwill & intangibles	408.4M	802.1M	743M	1B	1B	1.2B	1.1B	1.1B	1.5B	1.8B
Total assets	470.7M	761.1M	725.7M	939.4M	927.6M	1.1B	1.1B	1.2B	1.4B	1.7B
Accounts payable	23.9M	35.5M	35.7M	45.9M	32.3M	59.3M	58.1M	42.1M	51.1M	53.4M
Short-term debt	643K	696K	1.7M	2.9M	1.5M	5.4M	3.8M	3.2M	3.4M	3.1M
Total current liabilities	88.9M	132.2M	129M	146.2M	134.7M	221.5M	213.5M	214.4M	191.6M	228.2M
Long-term debt	65.8M	241.4M	174.2M	298.2M	232M	264.2M	197.3M	107.7M	285.2M	371.4M
Total liabilities	186.4M	428.6M	351.2M	512.3M	430.7M	566.6M	494.3M	399.4M	572.2M	721.1M
Shareholders' equity	284.3M	332.5M	374.6M	427.1M	496.9M	565.6M	655.6M	776.2M	858.1M	991.1M
Total debt	66.4M	242.1M	175.8M	301M	233.5M	269.5M	201.2M	110.9M	288.5M	374.5M
Net debt	-5.1M	166.7M	130M	234.2M	167.8M	178.3M	124.8M	7M	193.9M	254.9M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	76.8M	103.8M	81.4M	73.8M	88.4M	94.7M	91.7M	95.3M	124.5M	119.6M	117M	134.5M
Receivables	140.1M	133.9M	149.6M	149.7M	155M	142.5M	145.9M	152.6M	158.8M	158.6M	172.4M	168.7M
Inventory	164.3M	152.7M	172M	173.5M	169.3M	146.1M	153.5M	168.6M	179.7M	206.9M	214.8M	216.5M
Total current assets	436.1M	440.2M	454.7M	455.3M	469.6M	442.3M	446.7M	474.7M	520M	541.9M	562.6M	580.8M
Property, plant & equipment	-128.4M	47.9M	-135M	-139.1M	-145.9M	65.3M	-152M	-159.5M	-164.5M	70.1M	-178.1M	-184.3M
Goodwill & intangibles	1.1B	1.1B	1.5B	1.5B	1.6B	1.5B	1.5B	1.5B	1.5B	1.8B	1.8B	2B
Total assets	1.2B	1.2B	1.4B	1.5B	1.5B	1.4B	1.4B	1.5B	1.5B	1.7B	1.7B	1.9B
Accounts payable	44.3M	42.1M	55.6M	54.4M	50.5M	51.1M	49.3M	52.5M	50.6M	53.4M	55.5M	56.3M
Short-term debt	3.1M	3.2M	3.2M	3.2M	3.3M	3.4M	3.4M	3.3M	3.4M	3.1M	3.2M	3.2M
Total current liabilities	213.6M	214.4M	222.1M	202M	205.2M	191.6M	180.6M	199.8M	212.5M	228.2M	227.4M	224.2M
Long-term debt	126.1M	107.7M	306.8M	342M	323.2M	285.2M	273.5M	245.7M	254.6M	371.4M	360.2M	507.5M
Total liabilities	420.2M	399.4M	614.7M	637.6M	626.6M	572.2M	548.9M	547.2M	570.7M	721.1M	708.5M	855.5M
Shareholders' equity	733.9M	776.2M	794.8M	818.4M	862.8M	858.1M	886.6M	937.3M	961.5M	991.1M	1B	1B
Total debt	129.2M	110.9M	310M	345.3M	326.4M	288.5M	276.9M	248.9M	258M	374.5M	363.4M	510.6M
Net debt	52.4M	7M	228.6M	271.5M	238M	193.9M	185.2M	153.6M	133.5M	254.9M	246.3M	376.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	32.5M	31.6M	61M	52.6M	55.7M	84.9M	121.7M	116.8M	112.6M	103.7M
Depreciation & amortization	14.3M	19.4M	23.6M	32.4M	31.3M	34.3M	34.9M	33.3M	49.6M	51.2M
Stock-based compensation	5.1M	5.8M	7M	6.8M	6.8M	8.5M	8.6M	9.8M	10.6M	11.2M
Change in working capital	-633K	7M	-27.6M	-5.5M	-8M	29.3M	-58.1M	3.3M	-27.3M	-6.3M
Operating cash flow	50.9M	64.7M	61.1M	89.2M	90.7M	162.1M	120.9M	165.8M	153.9M	171.3M
Capital expenditure	-5.4M	-17.2M	-16.4M	-9.6M	-7.5M	-11M	-26.1M	-30.2M	-19.7M	—
Investing cash flow	-62M	-221.9M	-16.4M	-187.4M	-14.5M	-154.5M	-29.5M	-30.8M	-319.1M	-188.6M
Dividends paid	-8M	-9M	-9.6M	-10.2M	-10.9M	-11.5M	-12M	-13.2M	-14.7M	-15.8M
Share repurchases	0	—	—	—	—	—	—	—	—	—
Financing cash flow	5M	150.5M	-184.2M	-13.9M	-184.1M	59.2M	-144M	-205.1M	35.4M	-69.4M
Net change in cash	-6.1M	-6.7M	-139.5M	-112.1M	-108M	66.8M	-52.6M	-70M	-129.8M	-86.7M
Free cash flow	45.2M	47.9M	46.4M	87.5M	85.3M	149.6M	74.4M	133.7M	134.3M	154.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	31M	27.6M	25M	31.6M	31.9M	24.1M	24.4M	26.6M	28.1M	24.5M	25.8M	32.8M
Depreciation & amortization	8.2M	8.4M	11.7M	12M	12.8M	13.1M	12M	12.1M	12.4M	14.7M	14.6M	15.5M
Stock-based compensation	2.4M	2.5M	2.4M	2.9M	2.6M	2.7M	2.8M	3.1M	2.7M	2.7M	2.9M	2.9M
Change in working capital	4.6M	20.7M	-17.5M	-19.4M	3.7M	5.9M	-18.5M	-2.9M	2.7M	12.4M	-25.2M	596K
Operating cash flow	46.5M	61.5M	22.4M	28.2M	51.9M	50.2M	23.1M	40.5M	47.3M	60.8M	21.9M	53.5M
Capital expenditure	-8.4M	-8.7M	-5M	-4.9M	-4.2M	-5.6M	-3.8M	—	—	—	—	—
Investing cash flow	-7.2M	-10.7M	-237.3M	-64.3M	-14.6M	-3.3M	-3.8M	0	-16.1M	-173.3M	-1.2M	-170.6M
Dividends paid	-3.4M	-3.4M	-3.4M	-3.8M	-3.8M	-3.8M	-3.8M	-4M	-4M	-4M	-4M	-4.3M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-54.8M	-47.5M	159.5M	4.3M	-58.4M	235.2M	-45.6M	-72.8M	-10.3M	88.3M	-39.2M	117.3M
Net change in cash	-15.5M	3.2M	-55.4M	-31.8M	-21.1M	282.2M	-26.4M	-32.3M	20.9M	-24.2M	-18.4M	243K
Free cash flow	38.1M	49.5M	16.6M	23.1M	48.3M	46.3M	19M	36.5M	44.1M	54.7M	18.7M	42.6M

Date	Ratio
Jul 12, 2001	1:5
Jun 27, 1996	3:2
Sep 18, 1995	3:2

Kadant Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history