KELLANOVA (KEL.DE) Stock Fundamental Analysis
FRA:KEL - Deutsche Boerse Ag - US4878361082 - Common Stock - Currency: EUR
Overall KEL gets a fundamental rating of 5 out of 10. We evaluated KEL against 57 industry peers in the Food Products industry. While KEL has a great profitability rating, there are quite some concerns on its financial health. KEL has a expensive valuation and it also scores bad on growth.
1. Profitability
1.1 Basic Checks
In the past year KEL was profitable.
KEL had a positive operating cash flow in the past year.
Each year in the past 5 years KEL has been profitable.
KEL had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
KEL has a better Return On Assets (8.41%) than 89.47% of its industry peers.
Looking at the Return On Equity, with a value of 32.49%, KEL belongs to the top of the industry, outperforming 94.74% of the companies in the same industry.
The Return On Invested Capital of KEL (13.24%) is better than 96.49% of its industry peers.
KEL had an Average Return On Invested Capital over the past 3 years of 11.99%. This is significantly above the industry average of 6.40%.
The 3 year average ROIC (11.99%) for KEL is below the current ROIC(13.24%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.41% | ||
| ROE | 32.49% | ||
| ROIC | 13.24% |
ROA(3y)6.62%
ROA(5y)7%
ROE(3y)29.96%
ROE(5y)34.02%
ROIC(3y)11.99%
ROIC(5y)11.58%
1.3 Margins
With an excellent Profit Margin value of 10.56%, KEL belongs to the best of the industry, outperforming 82.46% of the companies in the same industry.
KEL's Profit Margin has improved in the last couple of years.
KEL's Operating Margin of 15.05% is amongst the best of the industry. KEL outperforms 84.21% of its industry peers.
In the last couple of years the Operating Margin of KEL has grown nicely.
KEL has a Gross Margin of 35.99%. This is comparable to the rest of the industry: KEL outperforms 49.12% of its industry peers.
In the last couple of years the Gross Margin of KEL has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 15.05% | ||
| PM (TTM) | 10.56% | ||
| GM | 35.99% |
OM growth 3Y5.23%
OM growth 5Y6.89%
PM growth 3Y0.13%
PM growth 5Y8.3%
GM growth 3Y3.3%
GM growth 5Y2.28%
2. Health
2.1 Basic Checks
KEL has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
Compared to 1 year ago, KEL has more shares outstanding
KEL has more shares outstanding than it did 5 years ago.
The debt/assets ratio for KEL has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 3.33 indicates that KEL is not in any danger for bankruptcy at the moment.
KEL's Altman-Z score of 3.33 is amongst the best of the industry. KEL outperforms 82.46% of its industry peers.
The Debt to FCF ratio of KEL is 9.04, which is on the high side as it means it would take KEL, 9.04 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 9.04, KEL perfoms like the industry average, outperforming 42.11% of the companies in the same industry.
KEL has a Debt/Equity ratio of 1.25. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.25, KEL is not doing good in the industry: 80.70% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.25 | ||
| Debt/FCF | 9.04 | ||
| Altman-Z | 3.33 |
ROIC/WACC1.66
WACC7.99%
2.3 Liquidity
KEL has a Current Ratio of 0.68. This is a bad value and indicates that KEL is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of KEL (0.68) is worse than 85.96% of its industry peers.
KEL has a Quick Ratio of 0.68. This is a bad value and indicates that KEL is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.45, KEL is not doing good in the industry: 75.44% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.68 | ||
| Quick Ratio | 0.45 |
3. Growth
3.1 Past
KEL shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -4.18%.
KEL shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -0.46% yearly.
The Revenue has grown by 10.71% in the past year. This is quite good.
The Revenue has been decreasing by -1.25% on average over the past years.
EPS 1Y (TTM)-4.18%
EPS 3Y-2.63%
EPS 5Y-0.46%
EPS Q2Q%-6.93%
Revenue 1Y (TTM)10.71%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%0.34%
3.2 Future
Based on estimates for the next years, KEL will show a small growth in Earnings Per Share. The EPS will grow by 4.63% on average per year.
The Revenue is expected to grow by 2.24% on average over the next years.
EPS Next Y-0.1%
EPS Next 2Y2.12%
EPS Next 3Y3.03%
EPS Next 5Y4.63%
Revenue Next Year0.48%
Revenue Next 2Y1.44%
Revenue Next 3Y2%
Revenue Next 5Y2.24%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 21.84 indicates a rather expensive valuation of KEL.
Compared to the rest of the industry, the Price/Earnings ratio of KEL is on the same level as its industry peers.
KEL's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.11.
The Price/Forward Earnings ratio is 19.95, which indicates a rather expensive current valuation of KEL.
Based on the Price/Forward Earnings ratio, KEL is valued a bit more expensive than 70.18% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of KEL to the average of the S&P500 Index (35.78), we can say KEL is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.84 | ||
| Fwd PE | 19.95 |
4.2 Price Multiples
KEL's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. KEL is more expensive than 70.18% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, KEL is valued a bit more expensive than 63.16% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 42.76 | ||
| EV/EBITDA | 14.32 |
4.3 Compensation for Growth
KEL has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y2.12%
EPS Next 3Y3.03%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.90%, KEL has a reasonable but not impressive dividend return.
KEL's Dividend Yield is a higher than the industry average which is at 3.32.
KEL's Dividend Yield is a higher than the S&P500 average which is at 2.39.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.9% |
5.2 History
The dividend of KEL has a limited annual growth rate of 1.51%.
Dividend Growth(5Y)1.51%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
59.03% of the earnings are spent on dividend by KEL. This is a bit on the high side, but may be sustainable.
The dividend of KEL is growing, but earnings are growing more, so the dividend growth is sustainable.
DP59.03%
EPS Next 2Y2.12%
EPS Next 3Y3.03%
FRA:KEL (8/11/2025, 7:00:00 PM)
69.02
+0.34 (+0.5%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)
Earnings (Next)
Inst Owners82.33%
Inst Owner ChangeN/A
Ins Owners0.44%
Ins Owner ChangeN/A
Market Cap23.95B
Analysts54.55
Price Target73.29 (6.19%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.9% |
Yearly Dividend1.94
Dividend Growth(5Y)1.51%
DP59.03%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-9.7%
Min EPS beat(2)-12.53%
Max EPS beat(2)-6.87%
EPS beat(4)2
Avg EPS beat(4)-1.39%
Min EPS beat(4)-12.53%
Max EPS beat(4)8.62%
EPS beat(8)6
Avg EPS beat(8)5.6%
EPS beat(12)10
Avg EPS beat(12)6.19%
EPS beat(16)14
Avg EPS beat(16)7.38%
Revenue beat(2)0
Avg Revenue beat(2)-3.24%
Min Revenue beat(2)-4.93%
Max Revenue beat(2)-1.54%
Revenue beat(4)1
Avg Revenue beat(4)-1.84%
Min Revenue beat(4)-4.93%
Max Revenue beat(4)0.37%
Revenue beat(8)3
Avg Revenue beat(8)-0.13%
Revenue beat(12)6
Avg Revenue beat(12)0.14%
Revenue beat(16)9
Avg Revenue beat(16)0.33%
PT rev (1m)-1.2%
PT rev (3m)-1.43%
EPS NQ rev (1m)-3.24%
EPS NQ rev (3m)-5.74%
EPS NY rev (1m)0%
EPS NY rev (3m)-3.54%
Revenue NQ rev (1m)-0.15%
Revenue NQ rev (3m)-0.03%
Revenue NY rev (1m)-0.03%
Revenue NY rev (3m)0.03%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.84 | ||
| Fwd PE | 19.95 | ||
| P/S | 2.2 | ||
| P/FCF | 42.76 | ||
| P/OCF | 21.3 | ||
| P/B | 6.76 | ||
| P/tB | N/A | ||
| EV/EBITDA | 14.32 |
EPS(TTM)3.16
EY4.58%
EPS(NY)3.46
Fwd EY5.01%
FCF(TTM)1.61
FCFY2.34%
OCF(TTM)3.24
OCFY4.7%
SpS31.4
BVpS10.2
TBVpS-6.87
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.41% | ||
| ROE | 32.49% | ||
| ROCE | 18.15% | ||
| ROIC | 13.24% | ||
| ROICexc | 13.67% | ||
| ROICexgc | 36.94% | ||
| OM | 15.05% | ||
| PM (TTM) | 10.56% | ||
| GM | 35.99% | ||
| FCFM | 5.14% |
ROA(3y)6.62%
ROA(5y)7%
ROE(3y)29.96%
ROE(5y)34.02%
ROIC(3y)11.99%
ROIC(5y)11.58%
ROICexc(3y)12.48%
ROICexc(5y)11.99%
ROICexgc(3y)36.74%
ROICexgc(5y)35.13%
ROCE(3y)15.6%
ROCE(5y)14.99%
ROICexcg growth 3Y9.44%
ROICexcg growth 5Y7.97%
ROICexc growth 3Y8.64%
ROICexc growth 5Y9.53%
OM growth 3Y5.23%
OM growth 5Y6.89%
PM growth 3Y0.13%
PM growth 5Y8.3%
GM growth 3Y3.3%
GM growth 5Y2.28%
F-Score6
Asset Turnover0.8
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.25 | ||
| Debt/FCF | 9.04 | ||
| Debt/EBITDA | 2.25 | ||
| Cap/Depr | 177.51% | ||
| Cap/Sales | 5.18% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 57.44% | ||
| Profit Quality | 48.69% | ||
| Current Ratio | 0.68 | ||
| Quick Ratio | 0.45 | ||
| Altman-Z | 3.33 |
F-Score6
WACC7.99%
ROIC/WACC1.66
Cap/Depr(3y)144.93%
Cap/Depr(5y)131.73%
Cap/Sales(3y)4.42%
Cap/Sales(5y)4.17%
Profit Quality(3y)102.41%
Profit Quality(5y)100.55%
High Growth Momentum
Growth
EPS 1Y (TTM)-4.18%
EPS 3Y-2.63%
EPS 5Y-0.46%
EPS Q2Q%-6.93%
EPS Next Y-0.1%
EPS Next 2Y2.12%
EPS Next 3Y3.03%
EPS Next 5Y4.63%
Revenue 1Y (TTM)10.71%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%0.34%
Revenue Next Year0.48%
Revenue Next 2Y1.44%
Revenue Next 3Y2%
Revenue Next 5Y2.24%
EBIT growth 1Y20.29%
EBIT growth 3Y1.56%
EBIT growth 5Y5.55%
EBIT Next Year19.43%
EBIT Next 3Y8.89%
EBIT Next 5Y7.16%
FCF growth 1Y-30.11%
FCF growth 3Y-0.47%
FCF growth 5Y13.92%
OCF growth 1Y-12.42%
OCF growth 3Y1.14%
OCF growth 5Y8.4%