Kennametal Inc. (KMT) intrinsic value & 10-year financials
Kennametal Inc. (KMT) has a Graham intrinsic value of $25.36 per share. At $30.79 on Oct 17, 2026, the stock trades 21% above that value. Over the last 10 fiscal years revenue shrank 0.7% a year to $2.0B, with an average return on invested capital of 6.1%.
- Graham intrinsic value
- $25.36
- Share price (Oct 17, 2026)
- $30.79
- Price vs Graham value
- 21% above
- Market cap
- $2.4B
- Revenue (FY2025)
- $2.0B
- Revenue growth (10-yr CAGR)
- -0.7%
- ROIC (10-yr avg)
- 6.1%
- Free cash flow (FY2025)
- $119.4M
KMT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.0B | $93.1M | $1.20 | $119.4M | 7.3% | 6.1% |
| FY2024 | $2.0B | $109.3M | $1.37 | $169.5M | 8.3% | 7.6% |
| FY2023 | $2.1B | $118.5M | $1.46 | $163.6M | 9.3% | 8.3% |
| FY2022 | $2.0B | $144.6M | $1.72 | $84.5M | 10.8% | 8.9% |
| FY2021 | $1.8B | $54.4M | $0.65 | $108.4M | 5.5% | 6.1% |
| FY2020 | $1.9B | -$5.7M | -$0.07 | -$20.4M | 1.2% | 0.7% |
| FY2019 | $2.4B | $241.9M | $2.90 | $88.2M | 13.8% | 15.4% |
| FY2018 | $2.4B | $200.2M | $2.42 | $106.3M | 13.0% | 14.4% |
| FY2017 | $2.1B | $49.1M | $0.61 | $74.2M | 5.5% | 4.6% |
| FY2016 | $2.1B | -$226.0M | -$2.83 | $108.6M | -8.3% | -11.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
KENNAMETAL INC is facing top-line stagnation, with revenue contracting over the decade.
KENNAMETAL INC has historically struggled to out-earn its cost of capital, averaging just 6.1% ROIC.
KENNAMETAL INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, KENNAMETAL INC is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $25.36 per share.