Latest Ratios: P/E Ratio 10.8x · EV/EBITDA 6.8x · ROE 13.4%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $100M | $110M | $94M | $105M | $47M | $40M | $33M | $28M | $63M | $97M | $62M |
| Enterprise Value | $145M | $156M | $130M | $93M | $52M | $103M | $44M | $38M | $64M | $92M | $54M |
| P/E Ratio → | 10.81 | 11.49 | 8.27 | 5.60 | 34.57 | — | — | — | 41.15 | 18.69 | 13.80 |
| P/S Ratio | 0.35 | 0.39 | 0.39 | 0.51 | 0.21 | 0.24 | 0.22 | 0.19 | 0.43 | 0.61 | 0.45 |
| P/B Ratio | 1.35 | 1.44 | 1.42 | 1.87 | 1.23 | 1.10 | 0.80 | 0.73 | 1.33 | 2.04 | 1.41 |
| P/FCF | 6.79 | 7.51 | 7.48 | 6.90 | — | — | — | 16.59 | — | — | 6.90 |
| P/OCF | 5.35 | 5.93 | 6.38 | 5.36 | — | — | 36.32 | 6.76 | 25.39 | 30.49 | 5.35 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.55 | 0.54 | 0.45 | 0.24 | 0.61 | 0.30 | 0.25 | 0.43 | 0.58 | 0.39 |
| EV / EBITDA | 6.75 | 7.25 | 5.75 | 4.33 | 8.00 | 638.88 | 32.14 | 121.58 | 13.56 | 7.80 | 5.89 |
| EV / EBIT | 8.67 | 9.31 | 7.20 | 6.21 | 9.82 | — | — | — | 34.95 | 10.02 | 8.32 |
| EV / FCF | — | 10.59 | 10.27 | 6.10 | — | — | — | 22.15 | — | — | 6.01 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.5% | 28.5% | 28.6% | 25.5% | 16.2% | 14.3% | 16.3% | 15.9% | 17.3% | 20.3% | 19.2% |
| Operating Margin | 5.9% | 5.9% | 7.4% | 9.0% | 1.7% | -1.5% | -0.9% | -1.6% | 1.4% | 5.7% | 4.7% |
| Net Profit Margin | 3.4% | 3.4% | 4.7% | 9.2% | 0.6% | -3.6% | -2.4% | -3.1% | 1.0% | 3.3% | 3.3% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.4% | 13.4% | 18.6% | 39.6% | 3.6% | -15.5% | -9.0% | -10.7% | 3.2% | 11.3% | 10.9% |
| ROA | 5.2% | 5.2% | 6.9% | 14.8% | 1.1% | -5.8% | -4.2% | -5.4% | 1.8% | 6.3% | 5.9% |
| ROIC | 11.2% | 11.2% | 18.3% | 31.4% | 3.8% | -2.6% | -2.0% | -3.7% | 3.5% | 17.3% | 13.3% |
| ROCE | 12.3% | 12.3% | 15.1% | 21.2% | 4.7% | -4.0% | -2.3% | -4.2% | 3.8% | 16.5% | 12.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.74 | 0.74 | 0.76 | 0.20 | 0.34 | 1.87 | 0.39 | 0.36 | 0.23 | 0.11 | 0.10 |
| Debt / EBITDA | 2.65 | 2.65 | 2.23 | 0.51 | 1.99 | 419.66 | 11.78 | 44.66 | 2.33 | 0.43 | 0.49 |
| Net Debt / Equity | — | 0.59 | 0.53 | -0.22 | 0.13 | 1.74 | 0.26 | 0.24 | 0.01 | -0.10 | -0.18 |
| Net Debt / EBITDA | 2.10 | 2.10 | 1.56 | -0.57 | 0.75 | 392.12 | 7.98 | 30.53 | 0.06 | -0.39 | -0.87 |
| Debt / FCF | — | 3.08 | 2.79 | -0.81 | — | — | — | 5.56 | — | — | -0.88 |
| Interest Coverage | 4.33 | 4.33 | 5.60 | 8.29 | 3.05 | -2.93 | -5.73 | -4.81 | 4.95 | 30.85 | 22.40 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.18 | 2.18 | 2.20 | 2.37 | 2.20 | 2.17 | 1.77 | 2.00 | 2.00 | 2.30 | 2.22 |
| Quick Ratio | 1.55 | 1.55 | 1.59 | 1.87 | 1.65 | 1.60 | 1.29 | 1.44 | 1.47 | 1.66 | 1.67 |
| Cash Ratio | 0.24 | 0.24 | 0.28 | 0.57 | 0.20 | 0.10 | 0.15 | 0.16 | 0.33 | 0.35 | 0.46 |
| Asset Turnover | — | 1.58 | 1.24 | 1.51 | 1.85 | 1.42 | 1.65 | 1.76 | 1.68 | 1.87 | 1.72 |
| Inventory Turnover | 6.60 | 6.60 | 5.22 | 7.34 | 8.40 | 6.08 | 7.48 | 8.10 | 7.05 | 7.14 | 7.50 |
| Days Sales Outstanding | — | 76.03 | 94.69 | 80.73 | 76.63 | 118.25 | 81.39 | 69.42 | 82.84 | 75.42 | 78.74 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | 3.7% | 3.2% | 1.8% | 2.5% |
| Payout Ratio | — | — | — | — | — | — | — | — | 132.8% | 34.6% | 34.8% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.3% | 8.7% | 12.1% | 17.9% | 2.9% | — | — | — | 2.4% | 5.4% | 7.2% |
| FCF Yield | 14.7% | 13.3% | 13.4% | 14.5% | — | — | — | 6.0% | — | — | 14.5% |
| Buyback Yield | 0.0% | 0.0% | 1.7% | 1.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 1.7% | 1.9% | 0.0% | 0.0% | 0.0% | 3.7% | 3.3% | 1.8% | 2.5% |
| Shares Outstanding | — | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M |
Project-based revenue lumpiness
Based on reported figures, KEQU trades at a trailing P/E of 9.35, which appears to undervalue the company's specialized role in life-science infrastructure compared to broader furniture peers, though the forward P/E of 23.41 suggests investors anticipate significant earnings volatility or a contraction in project margins.
The divergence between the trailing and forward multiples indicates that the market is pricing in a potential normalization of earnings following recent project-driven spikes. Investors should monitor whether the current valuation reflects a permanent re-rating of the business as a critical infrastructure provider or merely a temporary cyclical peak.
As reported in financial statements, ROIC has fluctuated significantly from a high of 8.9% in 2024Q2 to a low of 1.9% in 2026Q3, suggesting that Kewaunee struggles to consistently deploy capital into projects that generate returns exceeding its cost of capital across the full construction cycle.
The volatility in ROIC appears driven by the company's inability to maintain stable operating margins during periods of lower factory utilization. This inconsistency warrants further investigation into whether the company's capital allocation strategy is effectively prioritizing high-margin, specialized lab work over lower-margin, standard casework projects.
According to recent SEC filings, the cash conversion cycle has remained erratic, swinging from 29 days in 2024Q4 to 95 days in 2026Q3, which highlights the operational friction inherent in managing long-lead-time laboratory construction projects and the resulting impact on liquidity management.
The lengthening of the CCC suggests that the company is experiencing delays in either project milestones or customer payments, which ties up capital in receivables and inventory. This trend may indicate a weakening of leverage over customers or a shift toward more complex, slower-moving international contracts.
Based on reported figures, Kewaunee maintains a disciplined debt-to-equity ratio of 0.45 as of 2026Q3, which provides a necessary defensive posture against the inherent cyclicality of the laboratory infrastructure market and potential interest rate headwinds that could delay client capital expenditure.
The company's low leverage appears to be a strategic choice to mitigate the risks associated with its project-based revenue model. While this conservative approach protects the balance sheet, it may also limit the company's ability to aggressively pursue capacity expansion in high-growth biotech hubs.
The most commonly misapplied metric for Kewaunee is the P/S ratio, which obscures the company's specialized technical moat by grouping it with generalist furniture manufacturers, failing to account for the high switching costs associated with its integrated fume hood and life-safety laboratory infrastructure systems.
Investors should instead focus on backlog quality and project-specific margin profiles, as revenue recognition in this sector is often distorted by construction milestones. Using standard furniture multiples ignores the company's vertical integration in epoxy resin production, which functions more like a medical device component than a consumer fixture.
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Quick answers to the most common questions about buying KEQU stock.
Kewaunee Scientific Corporation's current P/E ratio is 10.8x. The historical average is 18.2x. This places it at the 28th percentile of its historical range.
Kewaunee Scientific Corporation's current EV/EBITDA is 6.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.4x.
Kewaunee Scientific Corporation's return on equity (ROE) is 13.4%. The historical average is 7.9%.
Based on historical data, Kewaunee Scientific Corporation is trading at a P/E of 10.8x. This is at the 28th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Kewaunee Scientific Corporation has 28.5% gross margin and 5.9% operating margin.
Kewaunee Scientific Corporation's Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.