KELLANOVA (KEL.DE) Stock Fundamental Analysis
FRA:KEL - Deutsche Boerse Ag - US4878361082 - Common Stock - Currency: EUR
KEL gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 59 industry peers in the Food Products industry. KEL scores excellent on profitability, but there are 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.
In the past year KEL had a positive cash flow from operations.
In the past 5 years KEL has always been profitable.
Each year in the past 5 years KEL had a positive operating cash flow.
1.2 Ratios
KEL has a better Return On Assets (8.92%) than 91.53% of its industry peers.
KEL has a better Return On Equity (35.25%) than 96.61% of its industry peers.
Looking at the Return On Invested Capital, with a value of 13.11%, KEL belongs to the top of the industry, outperforming 98.31% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for KEL is significantly above the industry average of 6.44%.
The 3 year average ROIC (11.99%) for KEL is below the current ROIC(13.11%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.92% | ||
| ROE | 35.25% | ||
| ROIC | 13.11% |
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
The Profit Margin of KEL (10.92%) is better than 86.44% of its industry peers.
In the last couple of years the Profit Margin of KEL has grown nicely.
The Operating Margin of KEL (15.51%) is better than 84.75% of its industry peers.
KEL's Operating Margin has improved in the last couple of years.
The Gross Margin of KEL (36.59%) is comparable to the rest of the industry.
KEL's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 15.51% | ||
| PM (TTM) | 10.92% | ||
| GM | 36.59% |
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
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.
2.2 Solvency
KEL has an Altman-Z score of 3.51. This indicates that KEL is financially healthy and has little risk of bankruptcy at the moment.
KEL's Altman-Z score of 3.51 is amongst the best of the industry. KEL outperforms 84.75% of its industry peers.
KEL has a debt to FCF ratio of 6.51. This is a slightly negative value and a sign of low solvency as KEL would need 6.51 years to pay back of all of its debts.
With a Debt to FCF ratio value of 6.51, KEL perfoms like the industry average, outperforming 49.15% of the companies in the same industry.
KEL has a Debt/Equity ratio of 1.43. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.43, KEL is not doing good in the industry: 84.75% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.43 | ||
| Debt/FCF | 6.51 | ||
| Altman-Z | 3.51 |
ROIC/WACC1.6
WACC8.21%
2.3 Liquidity
A Current Ratio of 0.80 indicates that KEL may have some problems paying its short term obligations.
KEL has a Current ratio of 0.80. This is amonst the worse of the industry: KEL underperforms 86.44% of its industry peers.
A Quick Ratio of 0.52 indicates that KEL may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.52, KEL is doing worse than 76.27% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.8 | ||
| Quick Ratio | 0.52 |
3. Growth
3.1 Past
The earnings per share for KEL have decreased by -8.11% in the last year.
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.
Looking at the last year, KEL shows a small growth in Revenue. The Revenue has grown by 2.96% in the last year.
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)-8.11%
EPS 3Y-2.63%
EPS 5Y-0.46%
EPS Q2Q%-10.89%
Revenue 1Y (TTM)2.96%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%-3.66%
3.2 Future
KEL is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.30% yearly.
The Revenue is expected to grow by 2.40% on average over the next years.
EPS Next Y-0.18%
EPS Next 2Y2.2%
EPS Next 3Y2.96%
EPS Next 5Y5.3%
Revenue Next Year0.45%
Revenue Next 2Y1.38%
Revenue Next 3Y1.95%
Revenue Next 5Y2.4%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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
Based on the Price/Earnings ratio of 21.83, the valuation of KEL can be described as rather expensive.
Compared to the rest of the industry, the Price/Earnings ratio of KEL is on the same level as its industry peers.
Compared to an average S&P500 Price/Earnings ratio of 26.25, KEL is valued at the same level.
KEL is valuated rather expensively with a Price/Forward Earnings ratio of 20.33.
KEL's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. KEL is more expensive than 67.80% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of KEL to the average of the S&P500 Index (22.15), we can say KEL is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.83 | ||
| Fwd PE | 20.33 |
4.2 Price Multiples
66.10% of the companies in the same industry are cheaper than KEL, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of KEL is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 32.87 | ||
| EV/EBITDA | 14.27 |
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 2Y2.2%
EPS Next 3Y2.96%
5. Dividend
5.1 Amount
KEL has a Yearly Dividend Yield of 2.76%.
KEL's Dividend Yield is a higher than the industry average which is at 3.21.
KEL's Dividend Yield is comparable with the S&P500 average which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.76% |
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 Years5
5.3 Sustainability
56.67% 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.
DP56.67%
EPS Next 2Y2.2%
EPS Next 3Y2.96%
FRA:KEL (5/29/2025, 7:00:00 PM)
72.48
-0.52 (-0.71%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)
Earnings (Next)
Inst Owners82.7%
Inst Owner ChangeN/A
Ins Owners0.72%
Ins Owner ChangeN/A
Market Cap25.15B
Analysts54.55
Price Target74.36 (2.59%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.76% |
Yearly Dividend2
Dividend Growth(5Y)1.51%
DP56.67%
Div Incr Years0
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-1.95%
Min EPS beat(2)-12.53%
Max EPS beat(2)8.62%
EPS beat(4)3
Avg EPS beat(4)2.8%
Min EPS beat(4)-12.53%
Max EPS beat(4)9.89%
EPS beat(8)7
Avg EPS beat(8)7.81%
EPS beat(12)11
Avg EPS beat(12)7.62%
EPS beat(16)15
Avg EPS beat(16)8.34%
Revenue beat(2)0
Avg Revenue beat(2)-3.1%
Min Revenue beat(2)-4.93%
Max Revenue beat(2)-1.26%
Revenue beat(4)1
Avg Revenue beat(4)-1.62%
Min Revenue beat(4)-4.93%
Max Revenue beat(4)0.37%
Revenue beat(8)3
Avg Revenue beat(8)-0.28%
Revenue beat(12)7
Avg Revenue beat(12)0.61%
Revenue beat(16)10
Avg Revenue beat(16)0.52%
PT rev (1m)-3.24%
PT rev (3m)-5.37%
EPS NQ rev (1m)-2.49%
EPS NQ rev (3m)-2.65%
EPS NY rev (1m)-3.62%
EPS NY rev (3m)-4.01%
Revenue NQ rev (1m)-0.64%
Revenue NQ rev (3m)-0.76%
Revenue NY rev (1m)-0.87%
Revenue NY rev (3m)-0.77%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.83 | ||
| Fwd PE | 20.33 | ||
| P/S | 2.25 | ||
| P/FCF | 32.87 | ||
| P/OCF | 18.76 | ||
| P/B | 7.25 | ||
| P/tB | N/A | ||
| EV/EBITDA | 14.27 |
EPS(TTM)3.32
EY4.58%
EPS(NY)3.56
Fwd EY4.92%
FCF(TTM)2.21
FCFY3.04%
OCF(TTM)3.86
OCFY5.33%
SpS32.28
BVpS10
TBVpS-7.36
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.92% | ||
| ROE | 35.25% | ||
| ROCE | 17.6% | ||
| ROIC | 13.11% | ||
| ROICexc | 13.49% | ||
| ROICexgc | 33.43% | ||
| OM | 15.51% | ||
| PM (TTM) | 10.92% | ||
| GM | 36.59% | ||
| FCFM | 6.83% |
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-Score7
Asset Turnover0.82
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.43 | ||
| Debt/FCF | 6.51 | ||
| Debt/EBITDA | 2.41 | ||
| Cap/Depr | 174% | ||
| Cap/Sales | 5.14% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 64.84% | ||
| Profit Quality | 62.54% | ||
| Current Ratio | 0.8 | ||
| Quick Ratio | 0.52 | ||
| Altman-Z | 3.51 |
F-Score7
WACC8.21%
ROIC/WACC1.6
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)-8.11%
EPS 3Y-2.63%
EPS 5Y-0.46%
EPS Q2Q%-10.89%
EPS Next Y-0.18%
EPS Next 2Y2.2%
EPS Next 3Y2.96%
EPS Next 5Y5.3%
Revenue 1Y (TTM)2.96%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%-3.66%
Revenue Next Year0.45%
Revenue Next 2Y1.38%
Revenue Next 3Y1.95%
Revenue Next 5Y2.4%
EBIT growth 1Y23.29%
EBIT growth 3Y1.56%
EBIT growth 5Y5.55%
EBIT Next Year19.54%
EBIT Next 3Y9.19%
EBIT Next 5Y7.6%
FCF growth 1Y-17.57%
FCF growth 3Y-0.47%
FCF growth 5Y13.92%
OCF growth 1Y-5.5%
OCF growth 3Y1.14%
OCF growth 5Y8.4%