Kardex AG (KARN) AI Stock Analysis

• Market Cap: CHF1.98B
• Dividend Yield: 2.17%
• Average Volume (3M): 12.02K
• Price to Earnings (P/E): 54.7
• Beta (1Y): 0.59
• Revenue Growth: 11.43%
• EPS Growth: 6.46%
• Country: CH
• Employees: 2,586
• Sector: General
• Sector Strength: N/A
• Industry: Industrial - Machinery
• EPS (TTM): 0.65
• Shares Outstanding: 7,730,000
• 10 Day Avg. Volume: 10,610
• 30 Day Avg. Volume: 12,020
• PEG Ratio: -1.14
• Price to Book (P/B): 8.55
• Price to Sales (P/S): 2.68
• P/FCF Ratio: 58.36
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: CHF360.50
• Price Target Upside: 40.27% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 11.44
• Revenue Forecast (FY): CHF975.95M

• Rating: 73 Outperform
• Price Target: CHF287.00 ▲(11.67% Upside)
• Action: Reiterated Date: 03/13/26
• Date: Action: Reiterated 03/13/26

The score is primarily driven by strong financial quality (notably the near-debt-free balance sheet and solid multi-year growth), partly offset by recent earnings/free-cash-flow volatility. Technical indicators are cautious, while valuation (mid-teens P/E and a ~2.3% yield) provides moderate support.

Positive Factors

Very conservative balance sheet

Near-zero leverage gives Kardex durable financial flexibility: it can fund capex, R&D, and service investments from internal resources, withstand downturns in project cycles, and pursue selective M&A without stressing liquidity. This supporting capital structure benefits long-term stability and strategic optionality.

Negative Factors

Volatile cash generation

Material year-to-year swings in operating and free cash flow reduce predictability for reinvestment, dividend pacing, and financing plans. This variability means management must retain larger liquidity buffers and can complicate capital allocation, weakening confidence in steady long-term free-cash-flow conversion.

Kardex AG Business Overview & Revenue Model

Company Description

Kardex Holding AG provides intralogistics solutions; and supplies automated storage solutions and materials handling systems worldwide. The company operates in two segments, Kardex Remstar and Kardex Mlog. The Kardex Remstar segment develops, prod...

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Kardex Holding AG provides intralogistics solutions; and supplies automated storage solutions and materials handling systems worldwide. The company operates in two segments, Kardex Remstar and Kardex Mlog. The Kardex Remstar segment develops, prod...

How the Company Makes Money

Kardex primarily makes money by selling and implementing intralogistics automation systems and then supporting them throughout their lifecycle. Key revenue streams typically include: (1) System/equipment sales and project business: revenue from de...

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Kardex primarily makes money by selling and implementing intralogistics automation systems and then supporting them throughout their lifecycle. Key revenue streams typically include: (1) System/equipment sales and project business: revenue from de...

Kardex AG Financial Statement Overview

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	855.15M	791.20M	702.90M	565.60M	455.50M
Gross Profit	286.06M	276.80M	235.90M	177.70M	163.30M
EBITDA	111.12M	117.50M	100.70M	63.70M	65.90M
Net Income	41.87M	80.70M	66.60M	37.80M	43.90M
Balance Sheet
Total Assets	502.61M	493.50M	422.20M	364.10M	337.80M
Cash, Cash Equivalents and Short-Term Investments	136.19M	173.30M	119.60M	102.70M	129.10M
Total Debt	0.00	100.00K	0.00	0.00	600.00K
Total Liabilities	233.12M	208.60M	182.10M	159.50M	143.90M
Stockholders Equity	268.09M	283.90M	239.10M	203.90M	193.80M
Cash Flow
Free Cash Flow	39.25M	98.90M	60.70M	-3.80M	72.60M
Operating Cash Flow	63.21M	114.20M	80.40M	10.40M	79.60M
Investing Cash Flow	-25.06M	-48.50M	-15.00M	6.10M	-49.20M
Financing Cash Flow	-50.83M	-39.40M	-27.50M	-32.80M	-27.50M

Kardex AG Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 257.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:KARN, the sentiment is Positive. The current price of 257 is above the 20-day moving average (MA) of 249.13, above the 50-day MA of 254.81, and below the 200-day MA of 285.75, indicating a neutral trend. The MACD of -2.26 indicates Negative momentum. The RSI at 55.31 is Neutral, neither overbought nor oversold. The STOCH value of 78.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:KARN.

Kardex AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KARN	73 Outperform	CHF1.98B	54.72	―	2.17%	11.43%	6.46%
BUCN	73 Outperform	CHF3.71B	15.87	―	2.99%	-11.64%	-24.17%
MIKN	69 Neutral	CHF278.37M	6.02	13.91%	2.43%	-1.94%	6.63%
INRN	62 Neutral	CHF1.32B	33.61	―	1.46%	-3.67%	-12.95%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
BYS	48 Neutral	CHF470.49M	-19.34	-9.18%	1.50%	-21.53%	-4693.32%
KOMN	44 Neutral	CHF277.39M	-36.22	―	―	-13.64%	-281.19%

Kardex AG Corporate Events