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Kadant Inc key statistics and ratios

In fiscal 2025, Kadant Inc had return on equity of 11.2% and a net margin of 9.7%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Jan 20102010Jan 20112011Dec 20112012Dec 20122013Dec 20132014Jan 20152015Jan 20162016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Jan 20212021Jan 20222022Dec 20222023Dec 20232024Dec 20242025Jan 2026LTMJul 2026
Net margin−2.6%6.9%10.0%9.5%6.8%7.1%8.8%7.7%6.0%9.5%7.4%8.7%10.7%13.4%12.1%10.6%9.7%9.5%
Return on equity−3.1%9.3%15.7%13.4%9.0%10.7%13.0%11.7%10.1%17.2%13.0%12.0%15.9%19.9%16.3%13.8%11.2%11.0%
Return on assets—5.5%9.7%8.8%5.8%6.7%8.3%7.2%5.0%8.1%6.3%5.9%8.2%10.6%10.0%8.6%6.5%6.1%
Effective tax rate—21.8%11.2%13.5%28.2%30.0%29.9%27.1%45.2%23.2%23.7%24.4%24.2%26.5%26.5%26.5%27.8%29.1%
R&D as % of revenue2.5%2.0%1.7%1.8%1.9%1.5%1.7%1.8%1.9%1.7%1.5%1.8%1.4%1.4%1.4%1.4%1.5%1.4%
SG&A as % of revenue36.0%33.0%30.6%31.1%34.1%32.2%31.5%32.6%31.0%28.0%27.3%28.6%26.5%24.8%24.7%26.6%28.7%27.9%
Dividends ÷ net income——0.0%0.0%17.9%22.1%20.9%25.1%29.0%16.0%19.6%19.8%13.6%9.9%11.4%13.1%15.5%14.8%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 6 checks passed · July 4, 2026
What it owns · $1.9bn
Short-term assets $581mLonger-term assets $1.3bn
What it owes, and who funded it · $1.2bn
Short-term liabilities $224mShareholders' equity $1.0bn
  • Short-term assets cover short-term liabilities $581m of assets due within a year against $224m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $135m of cash against $511m of debt.
  • Debt below 40% of shareholders' equity Debt is 50% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 47% to 50% over five years.
  • A year's operating cash flow covers at least 20% of debt $183m of operating cash flow against $511m of debt.
  • Operating profit covers interest at least five times over Operating income of $173m against $18m of interest.

From Kadant Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

73 /100

Strong moat

How hard Kadant's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 12 / 20

    Cash operating profit has been a median 9.6% of total assets over 10 years.

  • Pricing power 15 / 20

    Gross margin has been a median 43.6%, moving by 1.2 percentage points (standard deviation) across 10 years.

  • Durability 14 / 20

    Operating margin has been a median 14.7%; its worst year was 11.5%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 10 of 10 years, at a median 12.6% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 1.7% over five years; stock-based pay has been a median 1.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Kadant Inc's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Kadant Inc.