Konecranes Plc (KCR.HE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+57.0%

€43.34

vs €27.60 price

Levered DCF

€53.11

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.46

Safe zone

Rating

A+

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	18.63×	13.16×	11.72×	16.25×	18.9×	18.56×	26.59×	20.53×
P/B	3.56×	2.61×	2.02×	1.59×	2.06×	1.83×	1.74×	1.65×
P/S	1.78×	1.15×	0.81×	0.68×	0.88×	0.72×	0.65×	0.66×
EV / EBITDA	10.17×	7.63×	6.93×	8.79×	9.85×	8.8×	10.68×	9.8×
Gross margin	23.7%	55.6%	54.0%	55.0%	55.5%	53.6%	54.7%	56.5%
Operating margin	13.2%	12.1%	10.1%	6.7%	6.9%	5.5%	4.5%	5.3%
Net margin	9.5%	8.7%	6.9%	4.2%	4.6%	3.9%	2.4%	3.2%
Current ratio	1.45×	1.37×	1.39×	1.6×	1.16×	1.37×	1.36×	1.29×
Debt / equity	0.23×	0.48×	0.6×	0.77×	0.64×	0.94×	0.84×	0.61×
Interest coverage	8.67×	8.94×	7.76×	6.87×	8.59×	5.66×	5.72×	5.91×
Dividend yield	1.8%	2.2%	3.1%	4.3%	2.5%	4.2%	4.4%	4.5%
Payout ratio	32.7%	29.0%	35.9%	70.5%	47.4%	77.7%	116.8%	92.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	19.2%	19.8%	17.3%	9.8%	10.9%	9.8%	6.5%	8.0%
Return on invested capital	14.5%	12.3%	10.3%	5.6%	6.3%	4.3%	3.8%	4.7%
Return on assets	8.8%	7.7%	6.1%	3.2%	3.8%	3.0%	2.1%	2.9%
Free cash flow yield	7.0%	8.7%	15.6%	1.0%	4.6%	16.0%	6.1%	3.4%
Earnings yield	5.4%	7.6%	8.5%	6.2%	5.3%	5.4%	3.8%	4.9%
Enterprise value	€7.3B	€5B	€3.6B	€3B	€3.3B	€2.9B	€2.8B	€2.6B
Net debt / EBITDA	-0.23×	0.28×	0.71×	2.05×	1.61×	1.78×	2.49×	2.03×
Cash conversion cycle (days)	142	184	219	244	202	174	175	108