Kardex AG (KARN) AI Stock Analysis

• Market Cap: CHF2.49B
• Dividend Yield: 1.87%
• Average Volume (3M): 16.25K
• Price to Earnings (P/E): 33.6
• Beta (1Y): 0.90
• Revenue Growth: 11.43%
• EPS Growth: 6.46%
• Country: CH
• Employees: 2,586
• Sector: Industrials
• Sector Strength: 73
• Industry: Industrial - Machinery
• EPS (TTM): 4.42
• Shares Outstanding: 7,730,000
• 10 Day Avg. Volume: 16,600
• 30 Day Avg. Volume: 16,254
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: CHF351.50
• Price Target Upside: 9.50% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 70 Outperform
• Price Target: ―

Kardex AG scores well in financial performance, reflecting strong revenue growth, stable balance sheet, and healthy cash flows. However, technical analysis indicates a bearish trend with the stock being oversold, which might present short-term price pressure. The valuation is fair, with a reasonable P/E ratio and dividend yield, making it an attractive option for income-focused investors. Overall, while the financial health is robust, market sentiment and technical indicators suggest caution.

Positive Factors

Revenue Growth

Consistent revenue growth indicates a strong market position and effective business model, supporting long-term expansion and stability.

Balance Sheet Health

A strong balance sheet with low debt levels enhances financial stability and flexibility, enabling strategic investments and growth.

Cash Generation Ability

Strong cash generation supports operational needs and strategic initiatives, ensuring liquidity and financial resilience.

Negative Factors

Market Sentiment

Bearish market sentiment can impact investor confidence and stock performance, potentially affecting capital raising and valuation.

Cash Flow Management

Improving cash flow management is crucial for maintaining liquidity and supporting ongoing operations and investments.

Stock Performance

A significant decline in stock performance may affect investor perception and could hinder future capital-raising efforts.

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, produces, and maintains dynamic storage and retrieval systems. The Kardex Mlog segment offers integrated material handling systems and automated high bay warehouses. The company provides vertical buffer, carousel, and lift, as well as horizontal carousel modules; heavy duty units; office solutions; stacker cranes; AutoStore; pick and place robotics; conveyor systems; software and control solutions; and accessories. Its products are used in automated storage and retrieval systems, buffering and sequencing, order fulfillment, controlled environment, document storage, and general contractor applications. Kardex Holding AG is headquartered in Zurich, Switzerland.

How the Company Makes Money

Kardex AG generates revenue through the sale of its automated storage and retrieval systems and related services. The company's key revenue streams include the sale of new equipment, installation services, and ongoing maintenance and support contracts. Kardex also earns income from software solutions that complement its hardware offerings, providing clients with integrated logistics management capabilities. Additionally, the company benefits from long-term relationships and partnerships with businesses across diverse sectors, which contribute to consistent demand for its innovative solutions and services.

Kardex AG Financial Statement Overview

Summary

Kardex AG exhibits strong financial health across all verticals. The company has achieved significant revenue and profit growth, maintained a solid balance sheet with low leverage, and generated robust cash flows. These factors position the company well for future growth and stability, though continued focus on cash flow management could provide additional financial flexibility.

Income Statement

Kardex AG has demonstrated strong revenue growth, with a consistent increase over the past few years. The gross profit margin stands at 34.98%, showing good cost management. The net profit margin has improved to 10.20%, reflecting effective expense control. EBIT and EBITDA margins are also healthy at 12.44% and 14.85%, respectively, indicating operational efficiency. The upward trajectory in revenue and profits suggests a positive outlook for future growth.

Balance Sheet

The company maintains a robust balance sheet with an impressive equity ratio of 57.53%, indicating strong financial stability. The debt-to-equity ratio is negligible due to low debt levels, highlighting prudent financial management. A solid return on equity (ROE) of 28.43% demonstrates effective use of shareholder funds to generate profits, further reinforcing the company's stable financial position.

Cash Flow

Kardex AG has shown a commendable increase in free cash flow, with a growth rate of 62.93% year-over-year. The operating cash flow to net income ratio is 1.41, indicating strong cash generation relative to reported profits. The free cash flow to net income ratio of 1.22 further supports the company's ability to generate cash, though there is room for improvement in cash flow management to enhance liquidity further.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	791.20M	702.90M	565.60M	455.50M	412.90M
Gross Profit	276.80M	235.90M	177.70M	163.30M	153.00M
EBITDA	117.50M	100.70M	63.70M	65.20M	62.10M
Net Income	80.70M	66.60M	37.80M	43.90M	40.70M
Balance Sheet
Total Assets	493.50M	422.20M	364.10M	337.80M	277.30M
Cash, Cash Equivalents and Short-Term Investments	173.30M	119.60M	102.70M	129.10M	122.40M
Total Debt	100.00K	0.00	0.00	600.00K	100.00K
Total Liabilities	208.60M	182.10M	159.50M	143.90M	103.00M
Stockholders Equity	283.90M	239.10M	203.90M	193.80M	173.90M
Cash Flow
Free Cash Flow	98.90M	60.70M	-3.80M	72.60M	31.00M
Operating Cash Flow	114.20M	80.40M	10.40M	79.60M	49.80M
Investing Cash Flow	-48.50M	-15.00M	6.10M	-49.20M	-24.60M
Financing Cash Flow	-39.40M	-27.50M	-32.80M	-27.50M	-33.90M

Kardex AG Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 321.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• 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 321 is below the 20-day moving average (MA) of 324.30, above the 50-day MA of 312.36, and above the 200-day MA of 266.68, indicating a neutral trend. The MACD of 2.01 indicates Positive momentum. The RSI at 51.54 is Neutral, neither overbought nor oversold. The STOCH value of 35.15 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	70 Outperform	CHF2.49B	33.60		1.87%	11.43%	6.46%
BUCN	70 Outperform	CHF3.93B	17.42		2.84%	-11.64%	-24.17%
INRN	68 Neutral	CHF1.96B	32.92		1.35%	-3.67%	-12.95%
Sector *	63 Neutral	$10.70B	15.26	7.37%	2.02%	2.87%	-14.59%
KOMN	49 Neutral	CHF407.12M	99.21		2.84%	-13.64%	-281.19%
0QW1	―	CHF734.17M	486.72	-9.18%	1.11%	―	―
0QQF	―	CHF298.02M	9.68	14.20%	2.69%	―	―

Kardex AG Corporate Events

Kardex Holding AG’s AGM Approves All Motions, Including Dividend

At the 47th Annual General Meeting of Kardex Holding AG, all motions proposed by the Board of Directors were approved by the shareholders, including a dividend payment of CHF 6.00 per registered share. The re-election of all board members for another year was also confirmed. This approval reflects strong shareholder confidence in the company’s strategic direction and management, potentially reinforcing its market position and stability.