KENNAMETAL INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data KENNAMETAL INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	2,058	2,368	2,375	1,885	1,841	2,012	2,078	2,047	1,967	2,357
Cost of revenue	1,413	1,548	1,544	1,356	1,289	1,364	1,432	1,420	1,369	1,387
Gross profit	645	820	831	529	552	648	646	627	598	970
Research and development	38	38.9	39	38.7	39.5	42.1	43.1	44.2	44.4	43.2
Selling, general and administrative								433	431	479
Operating expenses	469	503	474	388	407	419	437	433	431
Operating income	94.8	290	329	22.3	102	218	192	170	143	473
Interest expense	28.8	30.1	33	35.2	46.4	25.9	28.5	26.5	24.9	28.6
Other non-operating income	16	14.8	15.4	14.9	8.87	14.5	-4.3	0.7	13.8	17.4
Pre-tax income	81.9	275	311	1.96	64.7	207	160	144	132	461
Income tax	29.9	70	63.4	7.01	6.24	56.5	36.3	30.8	33.3	111
Net income to minority interests	2.84	4.88	5.95	0.61	3.98	5.58	4.91	4.32	5.58	8.03
Net income	49.1	200	242	-5.66	54.4	145	118	109	93.1	342
EBITDA	202	399	441	142	229	350	326	305	280	616
EPS, basic	0.61	2.45	2.94	-0.07	0.65	1.74	1.47	1.38	1.21	4.49
EPS, diluted	0.61	2.42	2.90	-0.07	0.65	1.72	1.46	1.37	1.20	4.42
Shares, basic (weighted)	80.4	81.5	82.4	83	83.6	83.3	80.8	79.4	77.3	76.2
Shares, diluted (weighted)	81.2	82.8	83.3	83	84.3	83.9	81.4	80	77.9	77.4
Dividend per share	0.80	0.80	0.80	0.80	0.80	0.80	0.80	0.80	0.80	0.80

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	191	556	182	607	154	85.6	106	128	141	95.8
Receivables	380	401	380	238	303	295	307	303	295	408
Inventory	488	525	572	522	476	571	558	515	538	1,108
Other current assets	55.2	63.3	57.4	73.7	71.5	72.9	55.8	57.2	65.1	159
Total current assets	1,114	1,546	1,191	1,441	1,005	1,025	1,027	1,003	1,039	1,772
Property, plant and equipment	744	824	935	1,038	1,055	1,002	969	938	920	844
Lease right-of-use assets			0	48	50.3	47.2	43	48.1	45.2	45.8
Goodwill	301	302	300	271	278	264	270	272	283	279
Intangible assets	191	176	161	133	120	106	93.2	81.4	67.2	55.9
Other non-current assets	12.8	17.5	17.5	17.4	9.85	8.58	9.54	12.6	25.5	129
Total assets	2,415	2,926	2,656	3,038	2,666	2,574	2,547	2,504	2,545	3,167
Accounts payable	216	222	213	165	178	228	203	192	196	370
Accrued liabilities	85.7	95.2	76.6	47.6	61.5	56.3	55.6	53	55.6	67.9
Short-term debt	0	399	0
Total current liabilities	461	887	462	898	437	486	434	416	422	677
Long-term debt	695	592	592	594	592	594	595	596	597	685
Lease liabilities			0	35.4	36.8	35.3	32.2	35.6	33.4	34.5
Other non-current liabilities	28	24.6	21	34.4	32.2	15.4	22.7	20	21	21.1
Total liabilities	1,363	1,695	1,282	1,769	1,298	1,282	1,233	1,215	1,221	1,553
Total debt	0	399	0	594	592	594	595	596	597	685
Paid-in capital	475	512	529	539	563	494	465	417	374	390
Retained earnings	766	901	1,077	1,005	993	1,071	1,125	1,170	1,202	1,483
Other comprehensive income	-324	-320	-374	-417	-330	-414	-414	-435	-387	-399
Shareholders' equity	1,017	1,194	1,335	1,230	1,330	1,253	1,275	1,250	1,284	1,570
Minority interests	35.4	36	39.5	38.9	38.6	38.7	38.7	38.7	40.7	43.6
Total equity	1,053	1,230	1,375	1,269	1,368	1,291	1,314	1,289	1,325	1,613
Total liabilities and equity	2,415	2,926	2,656	3,038	2,666	2,574	2,547	2,504	2,545	3,167

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	52	205	248	-5.05	58.4	150	123	114	98.7	350
Depreciation and amortization	108	109	112	120	126	132	134	135	136	143
Stock-based compensation	21.1	20.8	22.8	16	24.8	21	24.7	24.3	22.1	34.9
Deferred income tax	6.27	22.9	2.81	-23.9	-21.2	11.3	-9.22	-8.02	-13.1	44.7
Change in receivables	-7.61	-22.2	17.3	129	-53.3	-14.4	-11.5	-2.62	9.07	-117
Change in inventory	-24.3	-37.2	-53.4	28.2	61.3	-127	17.6	36.8	-17.4	-593
Change in payables	54.6	-5.05	-49.4	-46.3	46.8	32	-32.5	-6.09	-6.16	226
Cash from operations	195	277	301	224	236	-181	258	277	208	-4.01
Capital expenditures	-118	-171	-212	-244	-127	-96.9	-94.4	-108	-89	-76.9
Acquisitions						0	0	-4.01	0	0
Cash from investing	-113	-157	-201	-218	-123	-94.9	-89.2	-109	-61.8	-71.3
Debt issued	25.3	296	0	0	298	0	0	0	0	297
Debt repaid	-25.9	-0.19	-400	0	-300	0	0	0	0	-209
Share buybacks	-0.24	-0.22	-0.21	-0.21	-0.2	-85.5	-49.3	-65.6	-60.1	-10.1
Dividends paid	-64.1	-65.1	-65.7	-66.3	-66.7	-66.6	-64.5	-63.4	-61.9	-60.8
Cash from financing	-53.3	247	-471	425	-574	-151	-143	-142	-134	31.6
Exchange rate effect	-0.26	-2.11	-1.74	-6.18	8.9	-4.23	-5.17	-3.99	-0.01	-1.08
Net change in cash	29.1	366	-374	425	-453	-68.5	20.4	22	12.6	-44.7
Free cash flow	77.3	106	88.2	-20.4	108	-278	164	170	119	-80.9
Interest paid	27.5	27.9	30.3	25.8	43.6	25.3	28.2	26.4	24.8	27.1
Income taxes paid	16.8	36	51.5	36.9	48.9	36.1	43.7	48.5	58.6	55.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $24.03 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	50.6%	Gross profit / revenue.
Operating margin	31.0%	Operating income / revenue.
EBITDA margin	36.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	29.9%	Pre-tax income / revenue.
Net margin	22.5%	Net income / revenue.
FCF margin	-10.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-8.5%	Cash from operations / revenue.
Effective tax rate	23.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	32.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	15.2%	Net income / average total assets.
Return on invested capital (ROIC)	23.6%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	18.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.5%	Capital expenditures / revenue.
D&A / revenue	5.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	19.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	62.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	14.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	11.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	230.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	34.9%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	35.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	120.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	23.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	21.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	267.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	42.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	44.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	268.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	44.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	46.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-101.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-167.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	0.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	22.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	7.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	3.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	24.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	7.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.45x	Current assets / current liabilities.
Quick ratio	0.96x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.37x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.60x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	28.2%	Total debt / total assets.
Liabilities / assets	51.9%	Total liabilities / total assets.
Net debt	$821.3M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.86x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	24.1x	Operating income / interest expense.
Working capital	$1.79B	Current assets - current liabilities.
Goodwill and intangibles / assets	8.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.49B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.68x	Revenue / average total assets.
Fixed asset turnover	3.20x	Revenue / average property, plant and equipment.
Inventory turnover	0.80x	Cost of revenue / average inventory.
Days inventory	454 days	365 x average inventory / cost of revenue.
Receivables turnover	6.11x	Revenue / average receivables.
Days sales outstanding	60 days	365 x average receivables / revenue.
Days payables	109 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	405 days	Days inventory + days sales outstanding - days payables.
FCF conversion	-48.7%	Free cash flow / net income, when net income is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$7.56	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$33.63	Revenue / diluted weighted shares.
FCF per share	-$3.68	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$2.85	Cash from operations / diluted weighted shares.
Book value per share	$23.34	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$19.10	Tangible book value / shares outstanding.
Cash per share	$3.49	(Cash + short-term investments) / shares outstanding.
Payout ratio	10.3%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.83B	Share price x shares outstanding.
Enterprise value	$2.65B	Market cap + total debt - cash - short-term investments.
P/E	3.10x	Market cap / net income. Only when net income is positive.
P/S	0.70x	Market cap / revenue.
P/B	1.00x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.23x	Market cap / tangible book value, when positive.
EV/Sales	1.01x	Enterprise value / revenue.
EV/EBIT	3.26x	Enterprise value / operating income, when both are positive.
EV/EBITDA	2.77x	Enterprise value / EBITDA, when both are positive.
FCF yield	-15.7%	Free cash flow / market cap.
Earnings yield	32.3%	Net income / market cap (the inverse of P/E).
Dividend yield	3.3%	Dividends paid over the period / market cap.
Shareholder yield	3.3%	(Dividends paid + share buybacks) / market cap.
PEG	0.07x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was KENNAMETAL INC's revenue in fiscal 2026?

KENNAMETAL INC reported revenue of $2.36B for fiscal 2026, 19.8% higher than the year before.

Was KENNAMETAL INC profitable in fiscal 2026?

Yes. Net income was $342.4M, a net margin of 14.5%.

How much free cash flow did KENNAMETAL INC generate in fiscal 2026?

Cash from operations of $4.0M minus capital expenditures of $76.9M left free cash flow of -$80.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to KENNAMETAL INC