Knowles Corporation (KN) 10-Year Financial Performance & Capital Metrics

KN • • Industrial / General

TechnologyCommunication EquipmentWireless Infrastructure & BackhaulWireless Broadband Access

AboutKnowles Corporation offers micro-acoustic microphones and balanced armature speakers, audio solutions, high performance capacitors, and radio frequency products for the consumer electronics, medtech, defense, electric vehicle, industrial, and communications markets. It operates in two segments, Audio and Precision Devices (PD). The Audio segment designs and manufactures audio products, including microphones, balanced armature speakers, and audio processors used in applications that serve the mobile, hearing health, True Wireless Stereo, Internet of Things, and computing markets. The PD segment is involved in the design and delivery of high-performance capacitor products and RF solutions that are used in applications, such as power supplies and medical implants, satellite communications, and radar systems, as well as for communications equipment. The company sells its products directly to original equipment manufacturers and to their contract manufacturers and suppliers, as well as through distributors. It has operations in Asia, the United States, Europe, other Americas, and internationally. The company was founded in 1946 and is headquartered in Itasca, Illinois.Show more

Revenue $554M +21.2%
EBITDA $94M +24.7%
Net Income -$240M -430.8%
EPS (Diluted) -2.67 -438.0%
Gross Margin 39.96% -8.8%
EBITDA Margin 17.04% +2.9%
Operating Margin 10.24% -5.3%
Net Margin -43.27% -373.0%
ROE -26.76% -474.6%
ROIC 4.1% +24.2%
Debt/Equity 0.28 +1.6%
Interest Coverage 2.82 -57.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 21.0% free cash flow margin
✓Trading near 52-week high

✗Weaknesses

✗Sales declining 8.3% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-6.98%

5Y-8.33%

3Y-13.93%

TTM4.23%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM119.02%

EPS CAGR

10Y-

5Y-

3Y-

TTM121.07%

ROCE

10Y Avg5.24%

5Y Avg5.68%

3Y Avg5.66%

Latest5.11%

Peer Comparison

Wireless Broadband Access

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
UIUbiquiti Inc.	33.49B	553.52	47.07	33.45%	28.72%	95.58%	1.87%	0.45
FEIMFrequency Electronics, Inc.	567.4M	58.03	23.59	26.3%	30.12%	35.99%		0.16
CMBMCambium Networks Corporation	44.34M	1.57	-0.56	-25.84%	-56.98%	-224.89%		0.39
AMPGAmpliTech Group, Inc.	84.92M	3.70	-3.43	-38.99%	-33.77%	-21.28%		0.12
AIRGAirgain, Inc.	49.27M	4.12	-5.22	8.14%	-10.87%	-20%		0.13
KNKnowles Corporation	2.12B	24.93	-9.34	21.17%	6.85%	5.23%	5.49%	0.28

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	849.6M	755.7M	744.2M	826.9M	854.8M	764.3M	868.1M	764.7M	456.8M	553.5M
Revenue Growth %	-0.26%	-0.11%	-0.02%	0.11%	0.03%	-0.11%	0.14%	-0.12%	-0.4%	0.21%
Cost of Goods Sold+	534.6M	476.2M	460.1M	510.4M	531.2M	505M	526.6M	463.9M	256.7M	332.3M
COGS % of Revenue	0.63%	0.63%	0.62%	0.62%	0.62%	0.66%	0.61%	0.61%	0.56%	0.6%
Gross Profit+	315M	279.5M	284.1M	316.5M	323.6M	259.3M	341.5M	300.8M	200.1M	221.2M
Gross Margin %	0.37%	0.37%	0.38%	0.38%	0.38%	0.34%	0.39%	0.39%	0.44%	0.4%
Gross Profit Growth %	0.48%	-0.11%	0.02%	0.11%	0.02%	-0.2%	0.32%	-0.12%	-0.33%	0.11%
Operating Expenses+	264.7M	223.7M	212.7M	236.6M	235.5M	211.4M	223.3M	198.4M	150.7M	164.5M
OpEx % of Revenue	0.31%	0.3%	0.29%	0.29%	0.28%	0.28%	0.26%	0.26%	0.33%	0.3%
Selling, General & Admin	171.9M	131.7M	119.3M	136M	138.7M	118.5M	130.5M	116.7M	119.2M	127.4M
SG&A % of Revenue	0.2%	0.17%	0.16%	0.16%	0.16%	0.16%	0.15%	0.15%	0.26%	0.23%
Research & Development	92.8M	92M	93.4M	100.6M	96.8M	92.9M	92.8M	81.7M	31.5M	37.1M
R&D % of Revenue	0.11%	0.12%	0.13%	0.12%	0.11%	0.12%	0.11%	0.11%	0.07%	0.07%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	50.3M	55.8M	71.4M	79.9M	88.1M	47.9M	118.2M	102.4M	49.4M	56.7M
Operating Margin %	0.06%	0.07%	0.1%	0.1%	0.1%	0.06%	0.14%	0.13%	0.11%	0.1%
Operating Income Growth %	3.14%	0.11%	0.28%	0.12%	0.1%	-0.46%	1.47%	-0.13%	-0.52%	0.15%
EBITDA+	127.2M	124.8M	125.2M	132.3M	142.5M	108.5M	180.7M	156.3M	75.6M	94.3M
EBITDA Margin %	0.15%	0.17%	0.17%	0.16%	0.17%	0.14%	0.21%	0.2%	0.17%	0.17%
EBITDA Growth %	-0.01%	-0.02%	0%	0.06%	0.08%	-0.24%	0.67%	-0.14%	-0.52%	0.25%
D&A (Non-Cash Add-back)	76.9M	69M	53.8M	52.4M	54.4M	60.6M	62.5M	53.9M	26.2M	37.6M
EBIT	35.4M	47.9M	39.8M	77.7M	81.6M	28.4M	119M	-413.9M	44.7M	54.8M
Net Interest Income+	-12.7M	-19.7M	-20.2M	-16M	-14.5M	-16.4M	-14.2M	-3.9M	-5.4M	-16.3M
Interest Income	100K	100K	200K	600K	800K	700K	200K	400K	2M	3.8M
Interest Expense	12.8M	19.8M	20.4M	16.6M	15.3M	17.1M	14.4M	4.3M	7.4M	20.1M
Other Income/Expense	-27.7M	-27.7M	-52M	-18.8M	-21.8M	-36.6M	-13.6M	-520.6M	-12.1M	-22M
Pretax Income+	22.6M	28.1M	19.4M	61.1M	66.3M	11.3M	104.6M	-418.2M	37.3M	34.7M
Pretax Margin %	0.03%	0.04%	0.03%	0.07%	0.08%	0.01%	0.12%	-0.55%	0.08%	0.06%
Income Tax+	6.1M	8.3M	12.9M	-4.5M	16.6M	8.4M	-45.6M	11.9M	-28.3M	11.3M
Effective Tax Rate %	-10.35%	-0.59%	0.31%	1.08%	0.74%	0.58%	1.44%	1.03%	1.94%	-6.9%
Net Income+	-233.8M	-16.7M	6M	66.1M	49.1M	6.6M	150.4M	-430.1M	72.4M	-239.5M
Net Margin %	-0.28%	-0.02%	0.01%	0.08%	0.06%	0.01%	0.17%	-0.56%	0.16%	-0.43%
Net Income Growth %	-1.69%	0.93%	1.36%	10.02%	-0.26%	-0.87%	21.79%	-3.86%	1.17%	-4.31%
Net Income (Continuing)	16.5M	19.8M	6.5M	65.6M	49.7M	2.9M	150.2M	-430.1M	65.6M	23.4M
Discontinued Operations	-250.3M	-36.5M	-500K	500K	-600K	3.7M	200K	0	6.8M	-262.9M
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-2.69	-0.47	0.75	0.74	0.53	0.03	1.59	-4.69	0.79	-2.67
EPS Growth %	-1.64%	0.83%	2.6%	-0.01%	-0.28%	-0.94%	49.96%	-3.95%	1.17%	-4.38%
EPS (Basic)	-2.69	-0.48	0.76	0.75	0.54	0.03	1.63	-4.69	0.80	-2.69
Diluted Shares Outstanding	86.8M	89.18M	90.49M	91.19M	93.44M	92.88M	94.7M	91.7M	91.6M	90.1M
Basic Shares Outstanding	86.8M	88.67M	89.33M	90.05M	91.16M	91.7M	92.3M	91.7M	90.9M	88.9M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	419.3M	330.1M	394.9M	365M	388.4M	419.6M	380.3M	362.4M	428.8M	361.4M
Cash & Short-Term Investments	63.3M	66.2M	111.7M	73.5M	78.4M	147.8M	68.9M	48.2M	87.3M	130.1M
Cash Only	63.3M	66.2M	111.7M	73.5M	78.4M	147.8M	68.9M	48.2M	87.3M	130.1M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	145.2M	145.1M	137.7M	140.3M	159.6M	131.4M	146.6M	134.7M	90.7M	105M
Days Sales Outstanding	62.38	70.08	67.54	61.93	68.15	62.75	61.64	64.29	72.47	69.24
Inventory	118.4M	108.2M	125.6M	140.1M	141.8M	130.1M	153.1M	169.5M	127M	118M
Days Inventory Outstanding	80.84	82.93	99.64	100.19	97.43	94.03	106.12	133.36	180.58	129.61
Other Current Assets	9.2M	10.6M	19.9M	11.1M	8.6M	10.3M	11.7M	10M	123.8M	8.3M
Total Non-Current Assets+	1.36B	1.19B	1.19B	1.23B	1.27B	1.24B	1.35B	821.5M	1.03B	756.8M
Property, Plant & Equipment	215.3M	186.2M	183M	211.7M	240.1M	214.8M	218.2M	174.4M	156.1M	138.7M
Fixed Asset Turnover	3.95x	4.06x	4.07x	3.91x	3.56x	3.56x	3.98x	4.38x	2.93x	3.99x
Goodwill	925.8M	894.6M	884.9M	887.9M	909.9M	910M	941.3M	471M	270.5M	269.8M
Intangible Assets	97M	77.4M	53.5M	56.7M	91.7M	78.7M	97.3M	85.1M	175.6M	157.4M
Long-Term Investments	0	0	0	0	0	0	0	6.3M	6.2M	84.6M
Other Non-Current Assets	106M	11.8M	11.1M	13.5M	11M	13.9M	16.4M	9.9M	326M	14.6M
Total Assets+	1.7B	1.52B	1.55B	1.55B	1.65B	1.65B	1.73B	1.18B	1.46B	1.12B
Asset Turnover	0.50x	0.50x	0.48x	0.53x	0.52x	0.46x	0.50x	0.65x	0.31x	0.49x
Asset Growth %	-0.15%	-0.11%	0.02%	-0%	0.07%	0%	0.05%	-0.32%	0.24%	-0.24%
Total Current Liabilities+	226.9M	149M	151.6M	141.8M	151.5M	297.3M	166.2M	99.1M	164.6M	197.6M
Accounts Payable	77.2M	71.8M	85.6M	77.2M	87.7M	70.3M	90.9M	41.4M	35.9M	58.5M
Days Payables Outstanding	52.71	55.03	67.91	55.21	60.26	50.81	63.01	32.57	51.05	64.26
Short-Term Debt	32.9M	12.1M	2.5M	2.4M	11.7M	177.9M	14.1M	10.9M	53.8M	72.8M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	32.6M	23.6M	25.7M	17.7M	14.1M	16M	16.7M	17.4M	47.1M	33.2M
Current Ratio	1.85x	2.22x	2.60x	2.57x	2.56x	1.41x	2.29x	3.66x	2.61x	1.83x
Quick Ratio	1.33x	1.49x	1.78x	1.59x	1.63x	0.97x	1.37x	1.95x	1.83x	1.23x
Cash Conversion Cycle	90.51	97.98	99.27	106.91	105.32	105.97	104.75	165.08	202.01	134.6
Total Non-Current Liabilities+	514.3M	357.6M	299.7M	244.8M	222.2M	54.1M	108.9M	91.9M	264.1M	164.6M
Long-Term Debt	399.2M	288.5M	192.6M	158.1M	156.8M	0	70M	45M	224.1M	134M
Capital Lease Obligations	15.4M	13.2M	12.3M	10.1M	32M	24.2M	18.3M	8.6M	8.8M	6.2M
Deferred Tax Liabilities	18.4M	21.7M	40.1M	55.9M	14M	2M	5.6M	3.4M	3M	3.6M
Other Non-Current Liabilities	81.3M	34.2M	54.7M	20.7M	19.4M	27.9M	15M	34.9M	28M	20.8M
Total Liabilities	689.7M	506.6M	451.3M	386.6M	373.7M	351.4M	275.1M	191M	428.7M	362.2M
Total Debt+	447.5M	313.8M	207.4M	170.6M	200.5M	202.1M	102.4M	64.5M	286.7M	213M
Net Debt	384.2M	247.6M	95.7M	97.1M	122.1M	54.3M	33.5M	16.3M	199.4M	82.9M
Debt / Equity	0.44x	0.31x	0.18x	0.14x	0.16x	0.16x	0.07x	0.06x	0.28x	0.28x
Debt / EBITDA	3.52x	2.51x	1.66x	1.29x	1.41x	1.86x	0.57x	0.41x	3.79x	2.26x
Net Debt / EBITDA	3.02x	1.98x	0.76x	0.73x	0.86x	0.50x	0.19x	0.10x	2.64x	0.88x
Interest Coverage	3.93x	2.82x	3.50x	4.81x	5.76x	2.80x	8.21x	23.81x	6.68x	2.82x
Total Equity+	1.01B	1.01B	1.13B	1.21B	1.29B	1.3B	1.46B	992.9M	1.03B	756M
Equity Growth %	-0.19%	0%	0.12%	0.07%	0.06%	0.01%	0.12%	-0.32%	0.04%	-0.27%
Book Value per Share	11.60	11.31	12.51	13.29	13.79	14.03	15.41	10.83	11.29	8.39
Total Shareholders' Equity	1.01B	1.01B	1.13B	1.21B	1.29B	1.3B	1.46B	992.9M	1.03B	756M
Common Stock	900K	900K	900K	900K	900K	900K	1M	1M	1M	1M
Retained Earnings	-317.8M	-360.1M	-291.9M	-224.2M	-175.1M	-168.5M	-18.1M	-448.2M	-375.8M	-613.6M
Treasury Stock	0	0	0	0	0	-16.2M	-62.4M	-103.3M	-151.2M	-205.2M
Accumulated OCI	-126.2M	-132.1M	-100M	-111M	-112M	-100.5M	-100.4M	-122.1M	-129.8M	-138.1M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	78.4M	107.5M	92.9M	98.5M	123.9M	128.1M	182.1M	86.3M	122.7M	130.1M
Operating CF Margin %	0.09%	0.14%	0.12%	0.12%	0.14%	0.17%	0.21%	0.11%	0.27%	0.24%
Operating CF Growth %	-0.32%	0.37%	-0.14%	0.06%	0.26%	0.03%	0.42%	-0.53%	0.42%	0.06%
Net Income	16.5M	19.8M	6.5M	65.6M	49.7M	2.9M	150.2M	-430.1M	65.6M	23.4M
Depreciation & Amortization	76.9M	69M	53.8M	52.4M	54.4M	60.6M	62.5M	53.9M	26.2M	37.6M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-25M	4M	-30.1M	8.7M	-700K	-2.6M	-61.2M	1.6M	-40.3M	9.5M
Other Non-Cash Items	25.9M	-7M	62.3M	32.5M	34.2M	44.5M	44.3M	508.3M	45.4M	32.3M
Working Capital Changes	-15.9M	21.7M	400K	-60.7M	-13.7M	22.7M	-13.7M	-47.4M	25.8M	27.3M
Change in Receivables	45.2M	35.9M	2.4M	-300K	-17.8M	29M	-12.3M	11.1M	12.7M	4M
Change in Inventory	11.7M	21.9M	-34M	-15.7M	-300K	16.7M	-20.7M	-22.8M	11.5M	1.6M
Change in Payables	-42.7M	-26.6M	4.9M	-6.3M	12.1M	-17.5M	17.2M	-41.2M	6.2M	25M
Cash from Investing+	-95.2M	5.9M	69.5M	-88M	-110.5M	-35.1M	-129.6M	-32.7M	-141.6M	45.2M
Capital Expenditures	-64.6M	-38.7M	-51.6M	-80.1M	-41.2M	-31.9M	-48.6M	-32.1M	-17.2M	-13.6M
CapEx % of Revenue	0.08%	0.05%	0.07%	0.1%	0.05%	0.04%	0.06%	0.04%	0.04%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	800K
Cash from Financing+	26.1M	-109.9M	-117.9M	-48.6M	-8.5M	-23.9M	-131.4M	-73.2M	58.2M	-132M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.2M	-1.5M	-5.1M	-5.7M	-9.3M	-160.28M	-180.2M	-6.9M	-6.2M	-6.6M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	15.3M	68.8M	41.3M	18.4M	82.7M	96.2M	133.5M	54.2M	105.5M	116.5M
FCF Margin %	0.02%	0.09%	0.06%	0.02%	0.1%	0.13%	0.15%	0.07%	0.23%	0.21%
FCF Growth %	-0.52%	3.5%	-0.4%	-0.55%	3.49%	0.16%	0.39%	-0.59%	0.95%	0.1%
FCF per Share	0.18	0.77	0.46	0.20	0.89	1.04	1.41	0.59	1.15	1.29
FCF Conversion (FCF/Net Income)	-0.34x	-6.44x	15.48x	1.49x	2.52x	19.41x	1.21x	-0.20x	1.69x	-0.54x
Interest Paid	11.2M	12.2M	11.3M	9M	7.5M	8.1M	7.4M	3.6M	5.4M	12M
Taxes Paid	19.3M	4.2M	13.1M	18M	12.1M	16.8M	16.1M	6.2M	10.6M	14.9M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-20.85%	-1.66%	0.56%	5.64%	3.93%	0.51%	10.89%	-35.08%	7.14%	-26.76%
Return on Invested Capital (ROIC)	2.53%	3.16%	4.31%	4.72%	4.86%	2.6%	6.22%	6.14%	3.3%	4.1%
Gross Margin	37.08%	36.99%	38.18%	38.28%	37.86%	33.93%	39.34%	39.34%	43.8%	39.96%
Net Margin	-27.52%	-2.21%	0.81%	7.99%	5.74%	0.86%	17.33%	-56.24%	15.85%	-43.27%
Debt / Equity	0.44x	0.31x	0.18x	0.14x	0.16x	0.16x	0.07x	0.06x	0.28x	0.28x
Interest Coverage	3.93x	2.82x	3.50x	4.81x	5.76x	2.80x	8.21x	23.81x	6.68x	2.82x
FCF Conversion	-0.34x	-6.44x	15.48x	1.49x	2.52x	19.41x	1.21x	-0.20x	1.69x	-0.54x
Revenue Growth	-25.56%	-11.05%	-1.52%	11.11%	3.37%	-10.59%	13.58%	-11.91%	-40.26%	21.17%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Precision Devices	-	-	106.8M	144.7M	172M	173.1M	201.1M	242.9M	221.4M	300M
Precision Devices Growth	-	-	-	35.49%	18.87%	0.64%	16.18%	20.79%	-8.85%	35.50%
MedTech & Specialty Audio	-	-	-	-	-	-	-	229.9M	230M	253.5M
MedTech & Specialty Audio Growth	-	-	-	-	-	-	-	-	0.04%	10.22%
Consumer MEMS Microphones	-	-	-	-	-	-	-	291.9M	256.2M	-
Consumer MEMS Microphones Growth	-	-	-	-	-	-	-	-	-12.23%	-
Audio	-	-	637.4M	682.2M	682.8M	591.2M	667M	-	-	-
Audio Growth	-	-	-	7.03%	0.09%	-13.42%	12.82%	-	-	-
Mobile Consumer Electronics	656.7M	439.8M	-	-	-	-	-	-	-	-
Mobile Consumer Electronics Growth	-	-33.03%	-	-	-	-	-	-	-	-
Specialty Components	427.9M	419.5M	-	-	-	-	-	-	-	-
Specialty Components Growth	-	-1.96%	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	186.2M	121.8M	101.3M	126.6M	130.4M	116.7M	153.2M	174.3M	161.4M	236M
UNITED STATES Growth	-	-34.59%	-16.83%	24.98%	3.00%	-10.51%	31.28%	13.77%	-7.40%	46.22%
Asia	781M	626.1M	560.8M	605.4M	614.7M	559.6M	611.5M	471.3M	426.1M	187.1M
Asia Growth	-	-19.83%	-10.43%	7.95%	1.54%	-8.96%	9.27%	-22.93%	-9.59%	-56.09%
Europe	102.3M	96.6M	72.3M	85.8M	97.4M	80M	93.5M	104.4M	101.5M	103.2M
Europe Growth	-	-5.57%	-25.16%	18.67%	13.52%	-17.86%	16.88%	11.66%	-2.78%	1.67%
Other Geographical Locations Member	7.1M	7.7M	5.4M	5.5M	6M	4.3M	4.4M	7.2M	11.5M	15.1M
Other Geographical Locations Member Growth	-	8.45%	-29.87%	1.85%	9.09%	-28.33%	2.33%	63.64%	59.72%	31.30%
Other Americas	8M	7.1M	4.4M	3.6M	6.3M	3.7M	5.5M	7.5M	7.1M	12.1M
Other Americas Growth	-	-11.25%	-38.03%	-18.18%	75.00%	-41.27%	48.65%	36.36%	-5.33%	70.42%

Frequently Asked Questions

Growth & Financials

Knowles Corporation (KN) reported $573.5M in revenue for fiscal year 2024. This represents a 49% decrease from $1.12B in 2012.

Knowles Corporation (KN) grew revenue by 21.2% over the past year. This is strong growth.

Yes, Knowles Corporation (KN) is profitable, generating $39.3M in net income for fiscal year 2024 (-43.3% net margin).

Dividend & Returns

Knowles Corporation (KN) has a return on equity (ROE) of -26.8%. Negative ROE indicates the company is unprofitable.

Knowles Corporation (KN) generated $81.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Knowles Corporation (KN) 10-Year Financial Performance & Capital Metrics

KN • • Industrial / General

TechnologyCommunication EquipmentWireless Infrastructure & BackhaulWireless Broadband Access

Revenue $554M +21.2%
EBITDA $94M +24.7%
Net Income -$240M -430.8%
EPS (Diluted) -2.67 -438.0%
Gross Margin 39.96% -8.8%
EBITDA Margin 17.04% +2.9%
Operating Margin 10.24% -5.3%
Net Margin -43.27% -373.0%
ROE -26.76% -474.6%
ROIC 4.1% +24.2%
Debt/Equity 0.28 +1.6%
Interest Coverage 2.82 -57.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 21.0% free cash flow margin
✓Trading near 52-week high

✗Weaknesses

✗Sales declining 8.3% over 5 years

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-6.98%

5Y-8.33%

3Y-13.93%

TTM4.23%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM119.02%

EPS CAGR

10Y-

5Y-

3Y-

TTM121.07%

ROCE

10Y Avg5.24%

5Y Avg5.68%

3Y Avg5.66%

Latest5.11%

Peer Comparison

Wireless Broadband Access

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
UIUbiquiti Inc.	33.49B	553.52	47.07	33.45%	28.72%	95.58%	1.87%	0.45
FEIMFrequency Electronics, Inc.	567.4M	58.03	23.59	26.3%	30.12%	35.99%		0.16
CMBMCambium Networks Corporation	44.34M	1.57	-0.56	-25.84%	-56.98%	-224.89%		0.39
AMPGAmpliTech Group, Inc.	84.92M	3.70	-3.43	-38.99%	-33.77%	-21.28%		0.12
AIRGAirgain, Inc.	49.27M	4.12	-5.22	8.14%	-10.87%	-20%		0.13
KNKnowles Corporation	2.12B	24.93	-9.34	21.17%	6.85%	5.23%	5.49%	0.28

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	849.6M	755.7M	744.2M	826.9M	854.8M	764.3M	868.1M	764.7M	456.8M	553.5M
Revenue Growth %	-0.26%	-0.11%	-0.02%	0.11%	0.03%	-0.11%	0.14%	-0.12%	-0.4%	0.21%
Cost of Goods Sold+	534.6M	476.2M	460.1M	510.4M	531.2M	505M	526.6M	463.9M	256.7M	332.3M
COGS % of Revenue	0.63%	0.63%	0.62%	0.62%	0.62%	0.66%	0.61%	0.61%	0.56%	0.6%
Gross Profit+	315M	279.5M	284.1M	316.5M	323.6M	259.3M	341.5M	300.8M	200.1M	221.2M
Gross Margin %	0.37%	0.37%	0.38%	0.38%	0.38%	0.34%	0.39%	0.39%	0.44%	0.4%
Gross Profit Growth %	0.48%	-0.11%	0.02%	0.11%	0.02%	-0.2%	0.32%	-0.12%	-0.33%	0.11%
Operating Expenses+	264.7M	223.7M	212.7M	236.6M	235.5M	211.4M	223.3M	198.4M	150.7M	164.5M
OpEx % of Revenue	0.31%	0.3%	0.29%	0.29%	0.28%	0.28%	0.26%	0.26%	0.33%	0.3%
Selling, General & Admin	171.9M	131.7M	119.3M	136M	138.7M	118.5M	130.5M	116.7M	119.2M	127.4M
SG&A % of Revenue	0.2%	0.17%	0.16%	0.16%	0.16%	0.16%	0.15%	0.15%	0.26%	0.23%
Research & Development	92.8M	92M	93.4M	100.6M	96.8M	92.9M	92.8M	81.7M	31.5M	37.1M
R&D % of Revenue	0.11%	0.12%	0.13%	0.12%	0.11%	0.12%	0.11%	0.11%	0.07%	0.07%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	50.3M	55.8M	71.4M	79.9M	88.1M	47.9M	118.2M	102.4M	49.4M	56.7M
Operating Margin %	0.06%	0.07%	0.1%	0.1%	0.1%	0.06%	0.14%	0.13%	0.11%	0.1%
Operating Income Growth %	3.14%	0.11%	0.28%	0.12%	0.1%	-0.46%	1.47%	-0.13%	-0.52%	0.15%
EBITDA+	127.2M	124.8M	125.2M	132.3M	142.5M	108.5M	180.7M	156.3M	75.6M	94.3M
EBITDA Margin %	0.15%	0.17%	0.17%	0.16%	0.17%	0.14%	0.21%	0.2%	0.17%	0.17%
EBITDA Growth %	-0.01%	-0.02%	0%	0.06%	0.08%	-0.24%	0.67%	-0.14%	-0.52%	0.25%
D&A (Non-Cash Add-back)	76.9M	69M	53.8M	52.4M	54.4M	60.6M	62.5M	53.9M	26.2M	37.6M
EBIT	35.4M	47.9M	39.8M	77.7M	81.6M	28.4M	119M	-413.9M	44.7M	54.8M
Net Interest Income+	-12.7M	-19.7M	-20.2M	-16M	-14.5M	-16.4M	-14.2M	-3.9M	-5.4M	-16.3M
Interest Income	100K	100K	200K	600K	800K	700K	200K	400K	2M	3.8M
Interest Expense	12.8M	19.8M	20.4M	16.6M	15.3M	17.1M	14.4M	4.3M	7.4M	20.1M
Other Income/Expense	-27.7M	-27.7M	-52M	-18.8M	-21.8M	-36.6M	-13.6M	-520.6M	-12.1M	-22M
Pretax Income+	22.6M	28.1M	19.4M	61.1M	66.3M	11.3M	104.6M	-418.2M	37.3M	34.7M
Pretax Margin %	0.03%	0.04%	0.03%	0.07%	0.08%	0.01%	0.12%	-0.55%	0.08%	0.06%
Income Tax+	6.1M	8.3M	12.9M	-4.5M	16.6M	8.4M	-45.6M	11.9M	-28.3M	11.3M
Effective Tax Rate %	-10.35%	-0.59%	0.31%	1.08%	0.74%	0.58%	1.44%	1.03%	1.94%	-6.9%
Net Income+	-233.8M	-16.7M	6M	66.1M	49.1M	6.6M	150.4M	-430.1M	72.4M	-239.5M
Net Margin %	-0.28%	-0.02%	0.01%	0.08%	0.06%	0.01%	0.17%	-0.56%	0.16%	-0.43%
Net Income Growth %	-1.69%	0.93%	1.36%	10.02%	-0.26%	-0.87%	21.79%	-3.86%	1.17%	-4.31%
Net Income (Continuing)	16.5M	19.8M	6.5M	65.6M	49.7M	2.9M	150.2M	-430.1M	65.6M	23.4M
Discontinued Operations	-250.3M	-36.5M	-500K	500K	-600K	3.7M	200K	0	6.8M	-262.9M
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-2.69	-0.47	0.75	0.74	0.53	0.03	1.59	-4.69	0.79	-2.67
EPS Growth %	-1.64%	0.83%	2.6%	-0.01%	-0.28%	-0.94%	49.96%	-3.95%	1.17%	-4.38%
EPS (Basic)	-2.69	-0.48	0.76	0.75	0.54	0.03	1.63	-4.69	0.80	-2.69
Diluted Shares Outstanding	86.8M	89.18M	90.49M	91.19M	93.44M	92.88M	94.7M	91.7M	91.6M	90.1M
Basic Shares Outstanding	86.8M	88.67M	89.33M	90.05M	91.16M	91.7M	92.3M	91.7M	90.9M	88.9M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	419.3M	330.1M	394.9M	365M	388.4M	419.6M	380.3M	362.4M	428.8M	361.4M
Cash & Short-Term Investments	63.3M	66.2M	111.7M	73.5M	78.4M	147.8M	68.9M	48.2M	87.3M	130.1M
Cash Only	63.3M	66.2M	111.7M	73.5M	78.4M	147.8M	68.9M	48.2M	87.3M	130.1M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	145.2M	145.1M	137.7M	140.3M	159.6M	131.4M	146.6M	134.7M	90.7M	105M
Days Sales Outstanding	62.38	70.08	67.54	61.93	68.15	62.75	61.64	64.29	72.47	69.24
Inventory	118.4M	108.2M	125.6M	140.1M	141.8M	130.1M	153.1M	169.5M	127M	118M
Days Inventory Outstanding	80.84	82.93	99.64	100.19	97.43	94.03	106.12	133.36	180.58	129.61
Other Current Assets	9.2M	10.6M	19.9M	11.1M	8.6M	10.3M	11.7M	10M	123.8M	8.3M
Total Non-Current Assets+	1.36B	1.19B	1.19B	1.23B	1.27B	1.24B	1.35B	821.5M	1.03B	756.8M
Property, Plant & Equipment	215.3M	186.2M	183M	211.7M	240.1M	214.8M	218.2M	174.4M	156.1M	138.7M
Fixed Asset Turnover	3.95x	4.06x	4.07x	3.91x	3.56x	3.56x	3.98x	4.38x	2.93x	3.99x
Goodwill	925.8M	894.6M	884.9M	887.9M	909.9M	910M	941.3M	471M	270.5M	269.8M
Intangible Assets	97M	77.4M	53.5M	56.7M	91.7M	78.7M	97.3M	85.1M	175.6M	157.4M
Long-Term Investments	0	0	0	0	0	0	0	6.3M	6.2M	84.6M
Other Non-Current Assets	106M	11.8M	11.1M	13.5M	11M	13.9M	16.4M	9.9M	326M	14.6M
Total Assets+	1.7B	1.52B	1.55B	1.55B	1.65B	1.65B	1.73B	1.18B	1.46B	1.12B
Asset Turnover	0.50x	0.50x	0.48x	0.53x	0.52x	0.46x	0.50x	0.65x	0.31x	0.49x
Asset Growth %	-0.15%	-0.11%	0.02%	-0%	0.07%	0%	0.05%	-0.32%	0.24%	-0.24%
Total Current Liabilities+	226.9M	149M	151.6M	141.8M	151.5M	297.3M	166.2M	99.1M	164.6M	197.6M
Accounts Payable	77.2M	71.8M	85.6M	77.2M	87.7M	70.3M	90.9M	41.4M	35.9M	58.5M
Days Payables Outstanding	52.71	55.03	67.91	55.21	60.26	50.81	63.01	32.57	51.05	64.26
Short-Term Debt	32.9M	12.1M	2.5M	2.4M	11.7M	177.9M	14.1M	10.9M	53.8M	72.8M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	32.6M	23.6M	25.7M	17.7M	14.1M	16M	16.7M	17.4M	47.1M	33.2M
Current Ratio	1.85x	2.22x	2.60x	2.57x	2.56x	1.41x	2.29x	3.66x	2.61x	1.83x
Quick Ratio	1.33x	1.49x	1.78x	1.59x	1.63x	0.97x	1.37x	1.95x	1.83x	1.23x
Cash Conversion Cycle	90.51	97.98	99.27	106.91	105.32	105.97	104.75	165.08	202.01	134.6
Total Non-Current Liabilities+	514.3M	357.6M	299.7M	244.8M	222.2M	54.1M	108.9M	91.9M	264.1M	164.6M
Long-Term Debt	399.2M	288.5M	192.6M	158.1M	156.8M	0	70M	45M	224.1M	134M
Capital Lease Obligations	15.4M	13.2M	12.3M	10.1M	32M	24.2M	18.3M	8.6M	8.8M	6.2M
Deferred Tax Liabilities	18.4M	21.7M	40.1M	55.9M	14M	2M	5.6M	3.4M	3M	3.6M
Other Non-Current Liabilities	81.3M	34.2M	54.7M	20.7M	19.4M	27.9M	15M	34.9M	28M	20.8M
Total Liabilities	689.7M	506.6M	451.3M	386.6M	373.7M	351.4M	275.1M	191M	428.7M	362.2M
Total Debt+	447.5M	313.8M	207.4M	170.6M	200.5M	202.1M	102.4M	64.5M	286.7M	213M
Net Debt	384.2M	247.6M	95.7M	97.1M	122.1M	54.3M	33.5M	16.3M	199.4M	82.9M
Debt / Equity	0.44x	0.31x	0.18x	0.14x	0.16x	0.16x	0.07x	0.06x	0.28x	0.28x
Debt / EBITDA	3.52x	2.51x	1.66x	1.29x	1.41x	1.86x	0.57x	0.41x	3.79x	2.26x
Net Debt / EBITDA	3.02x	1.98x	0.76x	0.73x	0.86x	0.50x	0.19x	0.10x	2.64x	0.88x
Interest Coverage	3.93x	2.82x	3.50x	4.81x	5.76x	2.80x	8.21x	23.81x	6.68x	2.82x
Total Equity+	1.01B	1.01B	1.13B	1.21B	1.29B	1.3B	1.46B	992.9M	1.03B	756M
Equity Growth %	-0.19%	0%	0.12%	0.07%	0.06%	0.01%	0.12%	-0.32%	0.04%	-0.27%
Book Value per Share	11.60	11.31	12.51	13.29	13.79	14.03	15.41	10.83	11.29	8.39
Total Shareholders' Equity	1.01B	1.01B	1.13B	1.21B	1.29B	1.3B	1.46B	992.9M	1.03B	756M
Common Stock	900K	900K	900K	900K	900K	900K	1M	1M	1M	1M
Retained Earnings	-317.8M	-360.1M	-291.9M	-224.2M	-175.1M	-168.5M	-18.1M	-448.2M	-375.8M	-613.6M
Treasury Stock	0	0	0	0	0	-16.2M	-62.4M	-103.3M	-151.2M	-205.2M
Accumulated OCI	-126.2M	-132.1M	-100M	-111M	-112M	-100.5M	-100.4M	-122.1M	-129.8M	-138.1M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	78.4M	107.5M	92.9M	98.5M	123.9M	128.1M	182.1M	86.3M	122.7M	130.1M
Operating CF Margin %	0.09%	0.14%	0.12%	0.12%	0.14%	0.17%	0.21%	0.11%	0.27%	0.24%
Operating CF Growth %	-0.32%	0.37%	-0.14%	0.06%	0.26%	0.03%	0.42%	-0.53%	0.42%	0.06%
Net Income	16.5M	19.8M	6.5M	65.6M	49.7M	2.9M	150.2M	-430.1M	65.6M	23.4M
Depreciation & Amortization	76.9M	69M	53.8M	52.4M	54.4M	60.6M	62.5M	53.9M	26.2M	37.6M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-25M	4M	-30.1M	8.7M	-700K	-2.6M	-61.2M	1.6M	-40.3M	9.5M
Other Non-Cash Items	25.9M	-7M	62.3M	32.5M	34.2M	44.5M	44.3M	508.3M	45.4M	32.3M
Working Capital Changes	-15.9M	21.7M	400K	-60.7M	-13.7M	22.7M	-13.7M	-47.4M	25.8M	27.3M
Change in Receivables	45.2M	35.9M	2.4M	-300K	-17.8M	29M	-12.3M	11.1M	12.7M	4M
Change in Inventory	11.7M	21.9M	-34M	-15.7M	-300K	16.7M	-20.7M	-22.8M	11.5M	1.6M
Change in Payables	-42.7M	-26.6M	4.9M	-6.3M	12.1M	-17.5M	17.2M	-41.2M	6.2M	25M
Cash from Investing+	-95.2M	5.9M	69.5M	-88M	-110.5M	-35.1M	-129.6M	-32.7M	-141.6M	45.2M
Capital Expenditures	-64.6M	-38.7M	-51.6M	-80.1M	-41.2M	-31.9M	-48.6M	-32.1M	-17.2M	-13.6M
CapEx % of Revenue	0.08%	0.05%	0.07%	0.1%	0.05%	0.04%	0.06%	0.04%	0.04%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	800K
Cash from Financing+	26.1M	-109.9M	-117.9M	-48.6M	-8.5M	-23.9M	-131.4M	-73.2M	58.2M	-132M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.2M	-1.5M	-5.1M	-5.7M	-9.3M	-160.28M	-180.2M	-6.9M	-6.2M	-6.6M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	15.3M	68.8M	41.3M	18.4M	82.7M	96.2M	133.5M	54.2M	105.5M	116.5M
FCF Margin %	0.02%	0.09%	0.06%	0.02%	0.1%	0.13%	0.15%	0.07%	0.23%	0.21%
FCF Growth %	-0.52%	3.5%	-0.4%	-0.55%	3.49%	0.16%	0.39%	-0.59%	0.95%	0.1%
FCF per Share	0.18	0.77	0.46	0.20	0.89	1.04	1.41	0.59	1.15	1.29
FCF Conversion (FCF/Net Income)	-0.34x	-6.44x	15.48x	1.49x	2.52x	19.41x	1.21x	-0.20x	1.69x	-0.54x
Interest Paid	11.2M	12.2M	11.3M	9M	7.5M	8.1M	7.4M	3.6M	5.4M	12M
Taxes Paid	19.3M	4.2M	13.1M	18M	12.1M	16.8M	16.1M	6.2M	10.6M	14.9M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-20.85%	-1.66%	0.56%	5.64%	3.93%	0.51%	10.89%	-35.08%	7.14%	-26.76%
Return on Invested Capital (ROIC)	2.53%	3.16%	4.31%	4.72%	4.86%	2.6%	6.22%	6.14%	3.3%	4.1%
Gross Margin	37.08%	36.99%	38.18%	38.28%	37.86%	33.93%	39.34%	39.34%	43.8%	39.96%
Net Margin	-27.52%	-2.21%	0.81%	7.99%	5.74%	0.86%	17.33%	-56.24%	15.85%	-43.27%
Debt / Equity	0.44x	0.31x	0.18x	0.14x	0.16x	0.16x	0.07x	0.06x	0.28x	0.28x
Interest Coverage	3.93x	2.82x	3.50x	4.81x	5.76x	2.80x	8.21x	23.81x	6.68x	2.82x
FCF Conversion	-0.34x	-6.44x	15.48x	1.49x	2.52x	19.41x	1.21x	-0.20x	1.69x	-0.54x
Revenue Growth	-25.56%	-11.05%	-1.52%	11.11%	3.37%	-10.59%	13.58%	-11.91%	-40.26%	21.17%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Precision Devices	-	-	106.8M	144.7M	172M	173.1M	201.1M	242.9M	221.4M	300M
Precision Devices Growth	-	-	-	35.49%	18.87%	0.64%	16.18%	20.79%	-8.85%	35.50%
MedTech & Specialty Audio	-	-	-	-	-	-	-	229.9M	230M	253.5M
MedTech & Specialty Audio Growth	-	-	-	-	-	-	-	-	0.04%	10.22%
Consumer MEMS Microphones	-	-	-	-	-	-	-	291.9M	256.2M	-
Consumer MEMS Microphones Growth	-	-	-	-	-	-	-	-	-12.23%	-
Audio	-	-	637.4M	682.2M	682.8M	591.2M	667M	-	-	-
Audio Growth	-	-	-	7.03%	0.09%	-13.42%	12.82%	-	-	-
Mobile Consumer Electronics	656.7M	439.8M	-	-	-	-	-	-	-	-
Mobile Consumer Electronics Growth	-	-33.03%	-	-	-	-	-	-	-	-
Specialty Components	427.9M	419.5M	-	-	-	-	-	-	-	-
Specialty Components Growth	-	-1.96%	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	186.2M	121.8M	101.3M	126.6M	130.4M	116.7M	153.2M	174.3M	161.4M	236M
UNITED STATES Growth	-	-34.59%	-16.83%	24.98%	3.00%	-10.51%	31.28%	13.77%	-7.40%	46.22%
Asia	781M	626.1M	560.8M	605.4M	614.7M	559.6M	611.5M	471.3M	426.1M	187.1M
Asia Growth	-	-19.83%	-10.43%	7.95%	1.54%	-8.96%	9.27%	-22.93%	-9.59%	-56.09%
Europe	102.3M	96.6M	72.3M	85.8M	97.4M	80M	93.5M	104.4M	101.5M	103.2M
Europe Growth	-	-5.57%	-25.16%	18.67%	13.52%	-17.86%	16.88%	11.66%	-2.78%	1.67%
Other Geographical Locations Member	7.1M	7.7M	5.4M	5.5M	6M	4.3M	4.4M	7.2M	11.5M	15.1M
Other Geographical Locations Member Growth	-	8.45%	-29.87%	1.85%	9.09%	-28.33%	2.33%	63.64%	59.72%	31.30%
Other Americas	8M	7.1M	4.4M	3.6M	6.3M	3.7M	5.5M	7.5M	7.1M	12.1M
Other Americas Growth	-	-11.25%	-38.03%	-18.18%	75.00%	-41.27%	48.65%	36.36%	-5.33%	70.42%

Frequently Asked Questions

Growth & Financials

Knowles Corporation (KN) reported $573.5M in revenue for fiscal year 2024. This represents a 49% decrease from $1.12B in 2012.

Knowles Corporation (KN) grew revenue by 21.2% over the past year. This is strong growth.

Yes, Knowles Corporation (KN) is profitable, generating $39.3M in net income for fiscal year 2024 (-43.3% net margin).

Dividend & Returns

Knowles Corporation (KN) has a return on equity (ROE) of -26.8%. Negative ROE indicates the company is unprofitable.

Knowles Corporation (KN) generated $81.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.