KELLANOVA (KEL.DE) Stock Fundamental Analysis
Europe - FRA:KEL - US4878361082 - Common Stock
66.24 EUR
+0.84 (+1.28%)
Taking everything into account, KEL scores 5 out of 10 in our fundamental rating. KEL was compared to 55 industry peers in the Food Products industry. KEL scores excellent on profitability, but there are concerns on its financial health. KEL does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
In the past year KEL was profitable.
In the past year KEL had a positive cash flow from operations.
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
The Return On Assets of KEL (8.41%) is better than 85.45% of its industry peers.
KEL has a better Return On Equity (32.49%) than 92.73% of its industry peers.
KEL has a better Return On Invested Capital (13.24%) than 90.91% of its industry peers.
The Average Return On Invested Capital over the past 3 years for KEL is above the industry average of 7.42%.
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
KEL has a better Profit Margin (10.56%) than 78.18% of its industry peers.
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 85.45% of its industry peers.
In the last couple of years the Operating Margin of KEL has grown nicely.
Looking at the Gross Margin, with a value of 35.99%, KEL is in line with its industry, outperforming 47.27% of the companies in the same industry.
KEL's Gross Margin has improved in the last couple of years.
| 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 3.29 indicates that KEL is not in any danger for bankruptcy at the moment.
KEL has a Altman-Z score of 3.29. This is amongst the best in the industry. KEL outperforms 81.82% 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.
KEL has a Debt to FCF ratio of 9.04. This is comparable to the rest of the industry: KEL outperforms 41.82% of its industry peers.
A Debt/Equity ratio of 1.25 is on the high side and indicates that KEL has dependencies on debt financing.
KEL has a worse Debt to Equity ratio (1.25) than 78.18% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.25 | ||
| Debt/FCF | 9.04 | ||
| Altman-Z | 3.29 |
ROIC/WACC1.68
WACC7.87%
2.3 Liquidity
A Current Ratio of 0.68 indicates that KEL may have some problems paying its short term obligations.
With a Current ratio value of 0.68, KEL is not doing good in the industry: 87.27% of the companies in the same industry are doing better.
A Quick Ratio of 0.45 indicates that KEL may have some problems paying its short term obligations.
KEL has a Quick ratio of 0.45. This is in the lower half of the industry: KEL underperforms 78.18% of its industry peers.
| 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%.
The Earnings Per Share has been decreasing by -0.46% on average over the past years.
The Revenue has grown by 10.71% in the past year. This is quite good.
Measured over the past years, KEL shows a decrease in Revenue. The Revenue has been decreasing by -1.25% on average per year.
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 4.34% on average per year.
Based on estimates for the next years, KEL will show a small growth in Revenue. The Revenue will grow by 2.11% on average per year.
EPS Next Y-4.24%
EPS Next 2Y-0.07%
EPS Next 3Y1.34%
EPS Next 5Y4.34%
Revenue Next Year0.11%
Revenue Next 2Y1.26%
Revenue Next 3Y1.64%
Revenue Next 5Y2.11%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 21.16 indicates a rather expensive valuation of KEL.
Based on the Price/Earnings ratio, KEL is valued a bit more expensive than the industry average as 60.00% of the companies are valued more cheaply.
KEL's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.32.
A Price/Forward Earnings ratio of 20.23 indicates a rather expensive valuation of KEL.
KEL's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. KEL is more expensive than 65.45% of the companies in the same industry.
KEL is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.89, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.16 | ||
| Fwd PE | 20.23 |
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 69.09% of the companies in the same industry.
63.64% of the companies in the same industry are cheaper than KEL, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 41.63 | ||
| EV/EBITDA | 14 |
4.3 Compensation for Growth
The excellent profitability rating of KEL may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-0.07%
EPS Next 3Y1.34%
5. Dividend
5.1 Amount
KEL has a Yearly Dividend Yield of 2.97%. Purely for dividend investing, there may be better candidates out there.
KEL's Dividend Yield is a higher than the industry average which is at 3.26.
Compared to an average S&P500 Dividend Yield of 2.38, KEL pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.97% |
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 2Y-0.07%
EPS Next 3Y1.34%
FRA:KEL (9/25/2025, 7:00:00 PM)
66.24
+0.84 (+1.28%)
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 Cap23.05B
Analysts54.55
Price Target72.45 (9.38%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.97% |
Yearly Dividend1.93
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)-1.15%
PT rev (3m)-2.34%
EPS NQ rev (1m)-0.56%
EPS NQ rev (3m)-4.72%
EPS NY rev (1m)0%
EPS NY rev (3m)-4.4%
Revenue NQ rev (1m)-0.12%
Revenue NQ rev (3m)-0.6%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.48%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.16 | ||
| Fwd PE | 20.23 | ||
| P/S | 2.14 | ||
| P/FCF | 41.63 | ||
| P/OCF | 20.74 | ||
| P/B | 6.59 | ||
| P/tB | N/A | ||
| EV/EBITDA | 14 |
EPS(TTM)3.13
EY4.73%
EPS(NY)3.27
Fwd EY4.94%
FCF(TTM)1.59
FCFY2.4%
OCF(TTM)3.19
OCFY4.82%
SpS30.95
BVpS10.06
TBVpS-6.77
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 | 3.29 |
F-Score6
WACC7.87%
ROIC/WACC1.68
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-4.24%
EPS Next 2Y-0.07%
EPS Next 3Y1.34%
EPS Next 5Y4.34%
Revenue 1Y (TTM)10.71%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%0.34%
Revenue Next Year0.11%
Revenue Next 2Y1.26%
Revenue Next 3Y1.64%
Revenue Next 5Y2.11%
EBIT growth 1Y20.29%
EBIT growth 3Y1.56%
EBIT growth 5Y5.55%
EBIT Next Year19.43%
EBIT Next 3Y8.89%
EBIT Next 5Y6.99%
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%