Kering SA (KER) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Kering SA stock €42.26, price €187, that is 77.4% below the price, quality 48 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range €151.21 – €647.22 · fair‑value band €26.45 – €73.04 · the €187.20 price screens above the €42.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Kering SA manages the development of a collection of renowned houses in fashion, leather goods, and jewelry in the Asia Pacific, Western Europe, North America, Japan, and internationally. The company provides ready-to-wear products, accessories, and beauty products for men and women.
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It also offers leather goods and shoes; watches and jewelry; eyewear products; and fragrances and cosmetics.
The company provides its products under the Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, and Ginori 1735, as well as Kering Eyewear and Kering Beauté brands.
Kering SA was formerly known as PPR SA. and changed its name to Kering SA in May 2013. The company was founded in 1963 and is based in Paris, France.
Stock analysis
Kering SA (KER) currently trades at €187.20, while our model-based Fair Value estimate is €42.26, 77% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of €73.80 per share, and 0 of the 23 models we run sit above the €187.20 price.
Bear case: the Growth Earnings group reads lowest at €9.76, and 23 of the 23 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €26.45 (bear) to €73.04 (bull), the price of €187.20 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 48/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Kering SA reported revenue of €14.7B in FY2025 versus €17.6B in FY2021, a compound −4.5%/yr. Reported net income was €72.0M in FY2025, compounding −61.2%/yr from FY2021.
Key figures
Market cap €23.4B Large · P/S ratio 1.84 · EPS (TTM) €−2.98 · Dividend yield 2.1% · Net margin −1.5% · Return on equity −1.6% · Return on assets (EBIT) 10.5% (5-year average) · Operating margin 12.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).
What moves the price
The share trades about 41% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −1% fair-value upside, at −77%, KER screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (€4.88 to €132.05). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear€26.45Fair Value €42.26Bull€73.04
Price €187.20 · Downside -77.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−14.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−10.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.3%
Start year 2020 (pandemic). Over 10 years: +2.4% a year
Revenue growth 22 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.3%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−47.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−49.7%
Dividend (yield on the price)2.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−49.7% vs −20.0%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.25% → 11%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+8.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +5.9% a year for the price and +1.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
AI conclusion: Moderate brand positioning in luxury goods with gains in jewelry and eyewear forms the main strength, while thin evidence of durable advantage and very low net margin plus ROE remain the key weak point.
Main risk: Elevated net debt could force further asset sales or constrain investment in brand development and marketing across Kering's houses.
Bull case: Successful debt reduction through asset sales and stronger performance at secondary brands could free resources for broader portfolio revitalisation and reduce concentration risks.
Bear case: Persistent high leverage combined with prolonged Gucci underperformance might force deeper cost cuts or delayed brand investments, eroding competitive positioning in luxury.
Kering's Q3 update shows Gucci sales down again while jewelry and eyewear post double-digit gains and the group steps up store closures. Efficiency actions keep the margin improvement goal in reach even after dropping the 2026 growth target. Will the flagship brand's desirability efforts start lifting results before the rest of the portfolio has to carry the load alone?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Luxury Goods · 121 stocks
Beats the industry median on 3/13 measures
Overall it trails its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside−77.4% · Bottom 25%
Profitability
Return on assets0.3% · Bottom 25%
Net margin (12 months)−2.9% · Bottom 25%
Operating margin (12 months)12.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)−2.9% · Bottom 25%
Dividend yield (12 months)2.1% · Below median
Balance sheet
Debt / equity0.70× · Highest 25%
Valuation Multiplesvs Luxury Goods median · lower = cheaper
P/B1.59× · Cheaper than median
P/S (12 months)3.14× · Priciest 25%
Price / free cash flow (fiscal year)27.0× · Pricier than median
EV/EBITDA22.7× · Priciest 25%
PEG0.25× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 16
FUTURE (revenue growth)0· sector 53
PAST (return on equity)0· sector 57
HEALTH (low debt)65· sector 99
DIVIDEND (yield)43· sector 56
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Kering SA Fair Value". https://www.fairvalue-calculator.com/stock/KER
Frequently asked questions
Is Kering SA (KER) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of €42.26 versus a price of €187.20, about 77% lower (overvalued).
What is the fair value of KER?
Our model-based fair value for Kering SA is €42.26 (as of Nov 8, 2026), built from audited fundamentals. The current price: €187.20.
What is the quality score of KER?
Kering SA has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Kering SA (KER)?
Our model-based price target is the fair value of €42.26 (as of Nov 8, 2026) from 24 valuation models. Cautious scenario €26.45, optimistic scenario €73.04. It is a calculation from audited fundamentals, not an analyst target.
What is the Kering SA stock forecast for 2026?
Our models put fair value at €42.26, about 77% lower versus a price of €187.20 (overvalued). Cautious scenario €26.45, optimistic scenario €73.04. The calculation is refreshed regularly with new filings.
What is the revenue of Kering SA (KER)?
Kering SA reported trailing-twelve-month revenue of about €14.5B (latest available figure, as of Nov 8, 2026).
Does Kering SA pay a dividend?
Kering SA currently shows a dividend yield of 2.14% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Kering SA (KER) and when is the ex-dividend date?
Kering SA pays a dividend of €4.00 per share a year, a dividend yield of 2.1%. The last ex-dividend date was Jun 2, 2026. A dividend has been paid every year since at least 1990. The payout ratio is 92.1% of earnings (on adjusted earnings, reported 681%). Free cash flow covers the dividend 3.43 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Kering SA (KER)?
For today's price to be fair in a discounted-cash-flow model, Kering SA would have to grow free cash flow by +8.2 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.3 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of KER use?
Our models discount Kering SA at 9.8 %: a base by market capitalisation (large), damped by beta 1.00, country premium for France. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Kering SA that is +8.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Kering SA (KER) delivered so far?
Over the past 5 years revenue at Kering SA grew +2.3 % a year. The price currently implies free-cash-flow growth of +8.2 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Kering SA (KER) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Kering SA (+8.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Kering SA (KER)?
The free-cash-flow yield on the price is 7.32 %: that much free cash flow Kering SA produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kering SA (KER)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kering SA it is €42.26 per share (as of Nov 8, 2026), against a price of €187.20. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Kering SA stock overvalued or undervalued in 2026?
As of Nov 8, 2026, KER trades above its calculated fair value: price €187.20, fair value €42.26, a gap of about −77% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of KER?
No. The price is what the market pays today (€187.20); the fair value is what the company's own numbers justify (€42.26). For Kering SA the two are €144.94 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kering SA worth?
The market values Kering SA at about €23.4B (market capitalisation, as of Nov 8, 2026). Per share that is €187.20; our models calculate a fair value of €42.26 per share.
What do the bullish and bearish scenarios say about KER?
Our models span a range for Kering SA: cautious scenario €26.45, base €42.26, optimistic €73.04 per share (as of Nov 8, 2026, price €187.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of KER?
The PEG ratio of Kering SA is 0.25 (P/E divided by earnings growth, as of Nov 8, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Kering SA (KER)?
Balance-sheet figures for Kering SA (as of Nov 8, 2026): return on equity −1.6%, debt of 0.70 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is KER from its 52-week high?
Kering SA trades at €187.20, about 41% below its 52-week high of €316.52 and 6% above the low of €176.28 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €42.26 is for.
Which stocks are comparable to Kering SA?
From the same area (Consumer Cyclical) we also value Compagnie Financière Richemont SA, Christian Dior SE, Titan Company, Tapestry, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Kering SA stock attractive at the current price?
The data as of Nov 8, 2026: price €187.20, calculated fair value €42.26 (−77%), Quality Score 48/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of KER calculated?
We run Kering SA through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €42.26 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Kering SA itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Kering SA (KER)?
The closing price on Nov 6, 2026 was €187.20. Our model-based fair value is €42.26, about 77% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kering SA right now?
The price sits above even our optimistic bull case (€73.04). The favourable scenario is already priced in. Weak quality (48/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (€26.45 to €73.04). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Where does the earnings growth of Kering SA (KER) come from?
Earnings per share at Kering SA grew +8.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.0 %, EBIT margin +3.6 %, tax rate −0.1 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Kering SA
How large is the market capitalisation of Kering SA (KER)?
The market capitalisation of Kering SA is €23.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Kering SA (KER)?
The price-to-sales ratio of Kering SA is 1.84 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Kering SA (KER)?
Earnings per share at Kering SA are €−2.98. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kering SA (KER)?
The dividend yield of Kering SA is 2.1% (payout 92.1%, on adjusted earnings, reported 681%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Kering SA (KER)?
The net margin of Kering SA is −1.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Kering SA (KER)?
The return on equity (ROE) of Kering SA is −1.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Kering SA (KER)?
On an EBIT basis the return on assets of Kering SA is 10.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Kering SA (KER)?
The operating margin of Kering SA is 12.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kering SA (KER)?
Revenue at Kering SA is growing −2.9% versus a year earlier (3y avg −10.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Kering SA (KER)?
Earnings per share at Kering SA are growing −60.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Kering SA (KER) carry?
The net debt of Kering SA is €19.3B (fiscal year 2025, ≈ 11.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 8, 2026