Kewaunee Scientific Corp key statistics and ratios

In fiscal 2026, Kewaunee Scientific Corp had return on equity of 13.8%, an operating margin of 5.9%, debt equal to 27.0% of equity and a current ratio of 2.18. 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.

Kewaunee Scientific Corp: financial ratios, annual
Fiscal year	2010Apr 2010	2011Apr 2011	2012Apr 2012	2013Apr 2013	2014Apr 2014	2015Apr 2015	2016Apr 2016	2017Apr 2017	2018Apr 2018	2019Apr 2019	2020Apr 2020	2021Apr 2021	2022Apr 2022	2023Apr 2023	2024Apr 2024	2025Apr 2025	2026Apr 2026	LTMJul 2026
Gross margin	21.6%	19.3%	18.6%	19.0%	19.8%	18.3%	18.4%	19.2%	20.3%	17.3%	15.9%	16.3%	14.3%	16.2%	25.5%	28.6%	28.5%	28.6%
Operating margin	5.9%	3.2%	2.6%	4.5%	5.4%	4.4%	4.4%	4.7%	6.3%	1.4%	−1.6%	−0.9%	−1.5%	2.4%	9.0%	7.4%	5.9%	5.4%
Net margin	3.6%	1.8%	1.0%	2.6%	3.5%	3.0%	3.0%	3.3%	3.3%	1.0%	−3.2%	−2.5%	−3.6%	0.3%	9.2%	4.7%	3.4%	3.0%
Free-cash-flow margin	0.3%	−4.0%	5.3%	1.2%	5.4%	−0.2%	4.0%	6.5%	−0.1%	−1.2%	1.1%	−1.0%	−5.8%	−3.6%	7.5%	5.2%	5.2%	3.9%
Return on equity	11.7%	6.0%	3.4%	9.9%	11.9%	10.3%	10.4%	11.1%	11.6%	3.2%	−11.0%	−9.2%	−15.9%	2.0%	40.7%	19.1%	13.8%	11.0%
Return on assets	—	2.9%	1.6%	4.6%	5.9%	5.3%	5.4%	5.9%	6.4%	1.8%	−5.5%	−4.2%	−5.9%	0.6%	14.8%	6.9%	5.2%	4.6%
Asset turnover	—	1.59	1.63	1.77	1.69	1.80	1.81	1.81	1.90	1.70	1.72	1.70	1.62	1.85	1.61	1.46	1.51	1.57
Current ratio	—	2.09	2.20	2.14	2.68	2.32	2.43	2.22	2.33	2.00	2.00	1.77	2.17	2.20	2.37	2.20	2.18	2.20
Debt to equity	0.0%	32.6%	34.8%	10.3%	13.0%	10.8%	8.8%	5.6%	5.1%	3.0%	12.3%	16.6%	4.4%	9.6%	5.7%	60.0%	27.0%	25.1%
Interest cover (operating income ÷ interest)	37.1x	15.9x	6.1x	14.6x	16.0x	16.1x	18.6x	22.4x	33.2x	5.8x	n/m	n/m	n/m	3.1x	10.2x	5.5x	4.3x	4.4x
Effective tax rate	33.9%	29.2%	29.1%	29.5%	33.1%	32.4%	32.4%	31.5%	43.3%	20.9%	—	—	—	69.8%	−45.3%	21.7%	23.8%	26.1%
R&D as % of revenue	—	1.2%	0.9%	0.7%	0.8%	0.8%	0.9%	0.8%	1.0%	1.1%	1.2%	1.0%	0.6%	0.5%	0.5%	0.4%	0.3%	—
Capital spending as % of revenue	4.3%	5.2%	1.4%	2.1%	1.8%	2.2%	1.7%	1.9%	2.1%	2.9%	1.7%	1.6%	1.1%	1.9%	2.1%	0.9%	1.4%	1.4%
Free cash flow ÷ net income	8.2%	−214.9%	532.3%	46.7%	155.3%	−7.8%	133.7%	200.5%	−4.0%	−112.7%	—	—	—	<−999%	81.0%	110.6%	152.8%	132.2%
Dividends ÷ net income	27.3%	55.7%	100.0%	34.0%	28.8%	35.0%	35.8%	34.8%	34.0%	132.8%	—	—	—	—	—	—	—	—
Dividends and buybacks ÷ free cash flow	332.0%	—	18.8%	72.8%	18.6%	—	26.8%	17.3%	—	—	61.6%	—	—	—	13.2%	12.6%	0.0%	—

US$ thousands unless shown otherwise. Fiscal quarters.

Kewaunee Scientific Corp: financial ratios, quarterly
Quarter	2025 Q2Oct 2024	2025 Q3Jan 2025	2025 Q4Apr 2025	2026 Q1Jul 2025	2026 Q2Oct 2025	2026 Q3Jan 2026	2026 Q4Apr 2026	2027 Q1Jul 2026
Gross margin	29.2%	27.4%	31.2%	29.4%	28.1%	26.7%	29.8%	29.6%
Operating margin	9.3%	3.3%	11.0%	6.8%	5.9%	3.7%	7.3%	4.8%
Net margin	6.3%	2.0%	6.3%	4.3%	3.5%	1.0%	4.7%	2.6%
Free-cash-flow margin	16.2%	−4.4%	11.5%	7.1%	−8.3%	15.8%	6.3%	1.8%
Current ratio	2.64	2.16	2.20	2.32	2.48	2.12	2.18	2.20
Debt to equity	—	62.4%	58.5%	55.7%	50.5%	30.2%	26.9%	25.1%

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

4 of 6 checks passed · July 31, 2026

What it owns · $176m

Short-term assets $104mLonger-term assets $72m

What it owes, and who funded it · $174m

Short-term liabilities $47mLonger-term liabilities $51mShareholders' equity $75m

Short-term assets cover short-term liabilities $104m of assets due within a year against $47m of liabilities due within a year.
Short-term assets cover long-term liabilities $104m short-term assets against $51m of longer-dated liabilities.
More cash than debt $8m of cash against $19m of debt.
Debt below 40% of shareholders' equity Debt is 25% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt $15m of operating cash flow against $19m of debt.
Operating profit covers interest at least five times over Operating income of $15m against $3m of interest.

From Kewaunee Scientific Corp'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

29 /100

Weak moat

How hard Kewaunee Scientific'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 4 / 20

Net income has been a median 3.9% of total assets over 10 years.
Pricing power 5 / 20

Gross margin has been a median 19.1%, moving by 5.3 percentage points (standard deviation) across 10 years.
Durability 0 / 20

Operating margin has been a median 4.5%; its worst year was -2.3%.
Cash conversion 6 / 20

Free cash flow was positive in 6 of 10 years, at a median 0.2% of revenue.
Discipline 14 / 20

The diluted share count rose 7.5% over five years; stock-based pay has been a median 0.4% 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 Kewaunee Scientific Corp's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Kewaunee Scientific Corp.