Kellanova (K) Financial Ratios
30 years of historical data (1995–2024) · Consumer Defensive · Food Confectioners
EV/EBITDA
↑
15.48
+3% vs avg
5yr avg: 14.97
30Y Low8.3·High19.5
P/FCF
↑
25.65
↑+33% vs avg
5yr avg: 19.23
30Y Low13.5·High51.1
P/B Ratio
↑
7.44
↑+30% vs avg
5yr avg: 5.73
30Y Low4.9·High19.5
ROE
↑
37.0%
↓+17% vs avg
5yr avg: 31.6%
30Y Low20%·High82%
Debt/EBITDA
↓
2.83
↓-24% vs avg
5yr avg: 3.71
30Y Low0.6·High4.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
K Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Kellanova trades at 21.5x earnings, 13% above its 5-year average of 19.0x, sitting at the 60th percentile of its historical range. Compared to the Consumer Defensive sector median P/E of 18.8x, the stock trades at a premium of 14%. On a free-cash-flow basis, the stock trades at 25.6x P/FCF, 33% above the 5-year average of 19.2x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $29.0B | $28.1B | $19.3B | $23.0B | $20.7B | $20.1B | $22.3B | $18.6B | $22.0B | $24.5B | $24.1B |
| Enterprise Value | $34.7B | $33.7B | $25.5B | $29.9B | $28.2B | $27.8B | $30.3B | $27.2B | $30.4B | $32.0B | $31.6B |
| P/E Ratio → | 21.51 | 20.92 | 20.26 | 23.96 | 13.96 | 16.09 | 23.18 | 13.97 | 86.20 | 35.29 | 39.42 |
| P/S Ratio | 2.28 | 2.20 | 1.47 | 1.82 | 1.77 | 1.46 | 1.64 | 1.37 | 1.72 | 1.89 | 1.78 |
| P/B Ratio | 7.44 | 7.23 | 5.72 | 5.26 | 4.92 | 5.54 | 6.72 | 5.89 | 10.05 | 12.71 | 11.29 |
| P/FCF | 25.65 | 24.81 | 19.90 | 19.78 | 18.06 | 13.60 | 37.72 | 19.43 | 19.25 | 21.84 | 21.21 |
| P/OCF | 16.50 | 15.96 | 11.71 | 13.93 | 12.19 | 10.14 | 18.93 | 12.12 | 13.39 | 15.04 | 14.28 |
P/E links to full P/E history page with 30-year chart
K EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Kellanova's enterprise value stands at 15.5x EBITDA, roughly in line with its 5-year average of 15.0x. The Consumer Defensive sector median is 11.0x, placing the stock at a 41% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.65 | 1.94 | 2.36 | 2.40 | 2.02 | 2.23 | 2.01 | 2.36 | 2.47 | 2.34 |
| EV / EBITDA | 15.48 | 15.06 | 13.63 | 18.49 | 15.23 | 12.42 | 16.09 | 12.24 | 16.26 | 15.98 | 19.47 |
| EV / EBIT | 18.52 | 16.28 | 17.50 | 25.46 | 17.81 | 15.70 | 18.88 | 15.08 | 16.91 | 17.72 | 21.15 |
| EV / FCF | — | 29.80 | 26.36 | 25.68 | 24.54 | 18.79 | 51.41 | 28.38 | 26.53 | 28.52 | 27.80 |
K Profitability
Margins and return-on-capital ratios measuring operating efficiency
Kellanova earns an operating margin of 14.7%, above the Consumer Defensive sector average of 3.5%. Operating margins have expanded from 9.6% to 14.7% over the past 3 years, signaling improving operational efficiency. Return on equity of 37.0% is exceptionally high — well above the sector median of 6.5%. ROIC of 14.7% represents solid returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.9% | 36.9% | 32.7% | 30.2% | 32.6% | 34.3% | 32.6% | 35.6% | 37.5% | 38.6% | 36.5% |
| Operating Margin | 14.7% | 14.7% | 11.5% | 9.6% | 11.8% | 12.8% | 10.3% | 12.6% | 10.8% | 11.4% | 8.1% |
| Net Profit Margin | 10.5% | 10.5% | 7.2% | 7.6% | 12.7% | 9.1% | 7.1% | 9.9% | 9.8% | 5.4% | 4.5% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 37.0% | 37.0% | 24.6% | 22.4% | 37.9% | 36.0% | 29.7% | 49.9% | 60.9% | 34.4% | 24.6% |
| ROA | 8.6% | 8.6% | 5.6% | 5.2% | 8.2% | 7.0% | 5.4% | 7.8% | 8.0% | 4.6% | 4.0% |
| ROIC | 14.7% | 14.7% | 10.8% | 7.9% | 9.0% | 11.6% | 9.1% | 11.5% | 10.4% | 11.7% | 8.4% |
| ROCE | 17.4% | 17.4% | 13.3% | 9.7% | 10.8% | 13.8% | 10.8% | 13.6% | 12.3% | 14.7% | 10.7% |
K Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Kellanova carries a Debt/EBITDA ratio of 2.8x, which is moderately leveraged (19% below the sector average of 3.5x). Net debt stands at $5.6B ($6.3B total debt minus $694M cash). Interest coverage of 5.3x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.63 | 1.63 | 1.94 | 1.64 | 1.83 | 2.23 | 2.56 | 2.82 | 3.93 | 4.03 | 3.62 |
| Debt / EBITDA | 2.83 | 2.83 | 3.49 | 4.44 | 4.18 | 3.62 | 4.49 | 4.00 | 4.61 | 3.88 | 4.77 |
| Net Debt / Equity | — | 1.45 | 1.86 | 1.57 | 1.77 | 2.11 | 2.44 | 2.71 | 3.80 | 3.89 | 3.51 |
| Net Debt / EBITDA | 2.52 | 2.52 | 3.34 | 4.25 | 4.02 | 3.43 | 4.28 | 3.86 | 4.46 | 3.74 | 4.61 |
| Debt / FCF | — | 4.99 | 6.46 | 5.90 | 6.48 | 5.18 | 13.68 | 8.95 | 7.28 | 6.68 | 6.59 |
| Interest Coverage | 5.29 | 5.29 | 4.29 | 3.63 | 6.07 | 5.81 | 4.46 | 6.11 | 5.64 | 3.61 | 4.47 |
K Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.81x is below 1.0, meaning current liabilities exceed current assets. The current ratio has improved from 0.66x to 0.81x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.81 | 0.81 | 0.66 | 0.66 | 0.64 | 0.66 | 0.72 | 0.70 | 0.67 | 0.66 | 0.56 |
| Quick Ratio | 0.56 | 0.56 | 0.41 | 0.45 | 0.38 | 0.42 | 0.46 | 0.40 | 0.40 | 0.38 | 0.35 |
| Cash Ratio | 0.15 | 0.15 | 0.05 | 0.05 | 0.05 | 0.08 | 0.08 | 0.07 | 0.06 | 0.06 | 0.04 |
| Asset Turnover | — | 0.82 | 0.84 | 0.68 | 0.65 | 0.77 | 0.77 | 0.76 | 0.79 | 0.86 | 0.89 |
| Inventory Turnover | 6.91 | 6.91 | 7.11 | 6.60 | 5.66 | 7.04 | 7.46 | 6.56 | 6.61 | 6.43 | 6.87 |
| Days Sales Outstanding | — | 43.57 | 43.62 | 44.19 | 46.27 | 40.74 | 42.37 | 37.05 | 39.44 | 34.66 | 36.27 |
K Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Kellanova returns 2.7% to shareholders annually primarily through dividends. A payout ratio of 57.8% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 4.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.7% | 2.8% | 4.2% | 3.5% | 3.8% | 3.9% | 3.5% | 4.1% | 3.3% | 2.9% | 2.9% |
| Payout Ratio | 57.8% | 57.8% | 84.1% | 83.0% | 53.0% | 62.5% | 80.1% | 57.0% | 58.7% | 102.4% | 114.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.7% | 4.8% | 4.9% | 4.2% | 7.2% | 6.2% | 4.3% | 7.2% | 1.2% | 2.8% | 2.5% |
| FCF Yield | 3.9% | 4.0% | 5.0% | 5.1% | 5.5% | 7.4% | 2.7% | 5.1% | 5.2% | 4.6% | 4.7% |
| Buyback Yield | 0.0% | 0.0% | 0.9% | 1.3% | 1.2% | 0.0% | 1.0% | 1.7% | 2.3% | 1.7% | 3.0% |
| Total Shareholder Yield | 2.7% | 2.8% | 5.0% | 4.8% | 5.0% | 3.9% | 4.4% | 5.8% | 5.7% | 4.7% | 5.9% |
| Shares Outstanding | — | $346M | $345M | $344M | $343M | $345M | $343M | $348M | $346M | $354M | $356M |
Peer Comparison
Compare K with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 KYou | $29B | 21.5 | 15.5 | 25.6 | 36.9% | 14.7% | 37.0% | 14.7% | 2.8 |
 GIS | $18B | 8.2 | 8.5 | 7.8 | 34.6% | 17.0% | 24.3% | 10.6% | 4.0 |
 CPB | $6B | 10.5 | 7.5 | 8.9 | 30.4% | 13.2% | 15.6% | 9.1% | 4.0 |
 SJM | $12B | -85.3 | 33.0 | 10.2 | 33.5% | 4.0% | -2.4% | 2.1% | 12.4 |
 CAG | $6B | 5.5 | 8.3 | 4.8 | 25.9% | 11.8% | 12.9% | 6.0% | 4.7 |
 HRL | $13B | 27.8 | 15.8 | 24.9 | 15.6% | 5.9% | 6.0% | 5.3% | 2.9 |
 MKC | $12B | 15.9 | 11.9 | 16.0 | 37.9% | 16.0% | 14.2% | 8.5% | 3.0 |
 MDLZ | $77B | 31.8 | 19.6 | 23.9 | 28.0% | 9.4% | 9.3% | 6.0% | 4.5 |
 HSY | $35B | 39.8 | 27.2 | 20.0 | 33.3% | 12.1% | 18.9% | 11.5% | 3.7 |
 FRPT | $3B | 20.8 | 16.4 | 218.4 | 38.6% | 8.6% | 12.3% | 5.3% | 3.1 |
 ADM | $36B | 33.7 | 16.7 | 8.6 | 6.3% | 1.8% | 4.7% | 3.3% | 3.2 |
| Consumer Defensive Median | — | 18.8 | 11.0 | 15.3 | 40.8% | 3.5% | 6.5% | 5.7% | 3.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into K consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
K — Frequently Asked Questions
Quick answers to the most common questions about buying K stock.
What is Kellanova's P/E ratio?
Kellanova's current P/E ratio is 21.5x. The historical average is 24.1x. This places it at the 60th percentile of its historical range.
What is Kellanova's EV/EBITDA?
Kellanova's current EV/EBITDA is 15.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.4x.
What is Kellanova's ROE?
Kellanova's return on equity (ROE) is 37.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 45.6%.
Is K stock overvalued?
Based on historical data, Kellanova is trading at a P/E of 21.5x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Kellanova's dividend yield?
Kellanova's current dividend yield is 2.69% with a payout ratio of 57.8%.
What are Kellanova's profit margins?
Kellanova has 36.9% gross margin and 14.7% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Kellanova have?
Kellanova's Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.