KELLANOVA (KEL.DE) Fundamental Analysis & Valuation

FRA:KEL • US4878361082

Current stock price

66.24 EUR
+0.84 (+1.28%)
Last:

This KEL.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

9

1. KEL.DE Profitability Analysis

1.1 Basic Checks

  • KEL had positive earnings in the past year.
  • KEL had a positive operating cash flow in the past year.
  • KEL had positive earnings in each of the past 5 years.
  • KEL had a positive operating cash flow in each of the past 5 years.
KEL.DE Yearly Net Income VS EBIT VS OCF VS FCFKEL.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B

1.2 Ratios

  • KEL has a better Return On Assets (8.41%) than 82.76% of its industry peers.
  • KEL has a Return On Equity of 32.49%. This is amongst the best in the industry. KEL outperforms 91.38% of its industry peers.
  • With an excellent Return On Invested Capital value of 13.24%, KEL belongs to the best of the industry, outperforming 87.93% of the companies in the same industry.
  • KEL had an Average Return On Invested Capital over the past 3 years of 11.99%. This is above the industry average of 7.10%.
  • The 3 year average ROIC (11.99%) for KEL is below the current ROIC(13.24%), indicating increased profibility in the last year.
Industry RankSector 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%
KEL.DE Yearly ROA, ROE, ROICKEL.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40 50

1.3 Margins

  • KEL's Profit Margin of 10.56% is fine compared to the rest of the industry. KEL outperforms 77.59% of its industry peers.
  • In the last couple of years the Profit Margin of KEL has grown nicely.
  • KEL has a better Operating Margin (15.05%) than 84.48% of its industry peers.
  • KEL's Operating Margin has improved in the last couple of years.
  • KEL has a Gross Margin (35.99%) which is comparable to the rest of the industry.
  • KEL's Gross Margin has improved in the last couple of years.
Industry RankSector 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%
KEL.DE Yearly Profit, Operating, Gross MarginsKEL.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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3

2. KEL.DE Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so KEL is still creating some value.
  • KEL has more shares outstanding than it did 1 year ago.
  • KEL has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, KEL has an improved debt to assets ratio.
KEL.DE Yearly Shares OutstandingKEL.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
KEL.DE Yearly Total Debt VS Total AssetsKEL.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

  • KEL has an Altman-Z score of 3.29. This indicates that KEL is financially healthy and has little risk of bankruptcy at the moment.
  • The Altman-Z score of KEL (3.29) is better than 79.31% of its industry peers.
  • KEL has a debt to FCF ratio of 9.04. This is a negative value and a sign of low solvency as KEL would need 9.04 years to pay back of 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 46.55% 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.
  • The Debt to Equity ratio of KEL (1.25) is worse than 79.31% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.25
Debt/FCF 9.04
Altman-Z 3.29
ROIC/WACC1.69
WACC7.83%
KEL.DE Yearly LT Debt VS Equity VS FCFKEL.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B 8B

2.3 Liquidity

  • A Current Ratio of 0.68 indicates that KEL may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.68, KEL is doing worse than 87.93% of the companies in the same industry.
  • A Quick Ratio of 0.45 indicates that KEL may have some problems paying its short term obligations.
  • KEL has a worse Quick ratio (0.45) than 77.59% of its industry peers.
Industry RankSector Rank
Current Ratio 0.68
Quick Ratio 0.45
KEL.DE Yearly Current Assets VS Current LiabilitesKEL.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. KEL.DE Growth Analysis

3.1 Past

  • KEL shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -4.18%.
  • Measured over the past years, KEL shows a decrease in Earnings Per Share. The EPS has been decreasing by -0.46% on average per year.
  • KEL shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.71%.
  • 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 4.29% 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-3.98%
EPS Next 2Y0.05%
EPS Next 3Y1.34%
EPS Next 5Y4.29%
Revenue Next Year0.08%
Revenue Next 2Y1.19%
Revenue Next 3Y1.64%
Revenue Next 5Y2.11%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
KEL.DE Yearly Revenue VS EstimatesKEL.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 5B 10B 15B
KEL.DE Yearly EPS VS EstimatesKEL.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2 4 6

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2

4. KEL.DE Valuation Analysis

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 62.07% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 27.89, KEL is valued a bit cheaper.
  • The Price/Forward Earnings ratio is 20.17, which indicates a rather expensive current valuation of KEL.
  • Based on the Price/Forward Earnings ratio, KEL is valued a bit more expensive than the industry average as 63.79% of the companies are valued more cheaply.
  • KEL's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 38.50.
Industry RankSector Rank
PE 21.16
Fwd PE 20.17
KEL.DE Price Earnings VS Forward Price EarningsKEL.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

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 68.97% of the companies in the same industry.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as KEL.
Industry RankSector Rank
P/FCF 41.61
EV/EBITDA 13.99
KEL.DE Per share dataKEL.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

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 2Y0.05%
EPS Next 3Y1.34%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. KEL.DE Dividend Analysis

5.1 Amount

  • KEL has a Yearly Dividend Yield of 2.81%.
  • Compared to an average industry Dividend Yield of 2.37, KEL pays a bit more dividend than its industry peers.
  • KEL's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.81%

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
KEL.DE Yearly Dividends per shareKEL.DE Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2

5.3 Sustainability

  • KEL pays out 59.03% of its income as dividend. 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 2Y0.05%
EPS Next 3Y1.34%
KEL.DE Yearly Income VS Free CF VS DividendKEL.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B
KEL.DE Dividend Payout.KEL.DE Dividend Payout, showing the Payout Ratio.KEL.DE Dividend Payout.PayoutRetained Earnings

More info and screens

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KEL.DE Fundamentals: All Metrics, Ratios and Statistics

KELLANOVA

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)07-31
Earnings (Next)10-29
Inst Owners84.18%
Inst Owner ChangeN/A
Ins Owners0.44%
Ins Owner ChangeN/A
Market Cap23.05B
Revenue(TTM)12.64B
Net Income(TTM)1.33B
Analysts54.29
Price Target72.25 (9.07%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.81%
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)-1.35%
PT rev (3m)-2.6%
EPS NQ rev (1m)0.01%
EPS NQ rev (3m)-4.41%
EPS NY rev (1m)0.27%
EPS NY rev (3m)-4.14%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.69%
Revenue NY rev (1m)-0.03%
Revenue NY rev (3m)-0.51%
Valuation
Industry RankSector Rank
PE 21.16
Fwd PE 20.17
P/S 2.14
P/FCF 41.61
P/OCF 20.73
P/B 6.58
P/tB N/A
EV/EBITDA 13.99
EPS(TTM)3.13
EY4.73%
EPS(NY)3.28
Fwd EY4.96%
FCF(TTM)1.59
FCFY2.4%
OCF(TTM)3.2
OCFY4.82%
SpS30.96
BVpS10.06
TBVpS-6.77
PEG (NY)N/A
PEG (5Y)N/A
Graham Number0 (-100%)
Profitability
Industry RankSector 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%
ROICexgc growth 3Y9.44%
ROICexgc 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 RankSector 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
WACC7.83%
ROIC/WACC1.69
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-3.98%
EPS Next 2Y0.05%
EPS Next 3Y1.34%
EPS Next 5Y4.29%
Revenue 1Y (TTM)10.71%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%0.34%
Revenue Next Year0.08%
Revenue Next 2Y1.19%
Revenue Next 3Y1.64%
Revenue Next 5Y2.11%
EBIT growth 1Y20.29%
EBIT growth 3Y1.56%
EBIT growth 5Y5.55%
EBIT Next Year17.18%
EBIT Next 3Y7.63%
EBIT Next 5Y6.96%
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%

KELLANOVA / KEL.DE Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for KELLANOVA?

ChartMill assigns a fundamental rating of 5 / 10 to KEL.DE.


What is the valuation status for KEL stock?

ChartMill assigns a valuation rating of 2 / 10 to KELLANOVA (KEL.DE). This can be considered as Overvalued.


How profitable is KELLANOVA (KEL.DE) stock?

KELLANOVA (KEL.DE) has a profitability rating of 9 / 10.


What is the financial health of KELLANOVA (KEL.DE) stock?

The financial health rating of KELLANOVA (KEL.DE) is 3 / 10.


Is the dividend of KELLANOVA sustainable?

The dividend rating of KELLANOVA (KEL.DE) is 5 / 10 and the dividend payout ratio is 59.03%.