Knife River Corp. (KNF) intrinsic value & 10-year financials

Knife River Corp. (KNF) has a Graham intrinsic value of $43.00 per share. At $50.50 on Oct 17, 2026, the stock trades 17% above that value. Over the last 6 fiscal years revenue grew 9.0% a year to $3.1B, with an average return on invested capital of 13.3%.

Graham intrinsic value
$43.00
Share price (Oct 17, 2026)
$50.50
Price vs Graham value
17% above
Market cap
$2.9B
Revenue (FY2025)
$3.1B
Revenue growth (6-yr CAGR)
9.0%
ROIC (10-yr avg)
13.3%
Free cash flow (FY2025)
-$69.6M

KNF 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $3.1B $157.1M $2.76 -$69.6M 9.1% 8.9%
FY2024 $2.9B $201.7M $3.55 $149.9M 10.9% 12.7%
FY2023 $2.8B $182.9M $3.23 $211.4M 10.5% 15.7%
FY2022 $2.5B $116.2M $2.05 $29.3M 7.7% 13.5%
FY2021 $2.2B $129.8M $2.29 $7.0M 8.6% 15.6%
FY2020 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Knife River Corp revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Knife River Corp returns on capital have been average, hovering around 12.7% ROIC over the decade.

Knife River Corp capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Knife River Corp is modeled at 4.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $43.00 per share.

KNF stock: frequently asked questions

What is the intrinsic value of Knife River Corp. (KNF) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 4.8% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, KNF's intrinsic value is about $43.00 per share.

Is KNF stock undervalued?

At $50.50 (close on Oct 17, 2026), KNF trades 17% above its Graham value of $43.00. On Graham's terms the shares look fully priced. A formula is a starting point for research, not a recommendation.

Does Knife River Corp. generate free cash flow?

Knife River Corp. generated -$69.6M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 4 of the last 5 reported years.

What is KNF's return on invested capital?

Average ROIC over the last 6 fiscal years was 13.3%, and average return on equity was 13.3%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this KNF data come from?

From Knife River Corp.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 4, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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