Kudelski SA (KDCXF) Fair Value & Analysis

Technology · US · Market cap $159M

Below-average quality, and screening another 31% overvalued on our models.

What matters now

• Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
• The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
• A fairly wide model range ($0.8400 to $1.67) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range $1.15 – $16.85 · fair‑value band $0.8400 – $1.67 · the $1.62 price screens above the $1.12 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Kudelski SA (KDCXF) currently trades at $1.62, while our model-based Fair Value estimate is $1.12, implying the stock looks roughly 30.9% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Kudelski SA generated revenue of $367M at a net margin of -11.6%. Revenue declined 2.3% year over year. It earns a return on equity of -12.9%. Net debt stands at $29.6M. Fundamentals as of Aug 13, 2026

Our scenario range runs from $0.8400 (bear case) to $1.67 (bull case); at $1.62, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 41% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -40% fair-value upside, at -31%, KDCXF screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Asset-Based ($3.96) versus Dividend Discount ($0.8900). Highest evidence: Gordon GGM (70).

Key figures & financial health

Quality Score breakdown

About the company

Kudelski SA, together with its subsidiaries, provides digital access and security solutions for digital television and interactive applications in Switzerland, the United States, France, Germany, Netherlands, and internationally. It operates through three segments: Core Digital Security, Cybersecurity, and Internet of Things (IoT).

Full company description

Kudelski SA, together with its subsidiaries, provides digital access and security solutions for digital television and interactive applications in Switzerland, the United States, France, Germany, Netherlands, and internationally. It operates through three segments: Core Digital Security, Cybersecurity, and Internet of Things (IoT). The company offers middleware software solutions for set-top boxes and other consumer devices, as well as engages in intellectual property activities. It also provides cybersecurity solutions, including advisory services, technology and resale services, and managed security solutions. In addition, the company offers watermarking solutions; smartcards and digital TV sales and support services; finance services; research and development; Middleware for set-top-boxes; and digital broadcasting solutions, as well as operates a travel agency. Kudelski SA was founded in 1951 and is headquartered in Cheseaux-sur-Lausanne, Switzerland.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kudelski SA reported revenue of $384M in FY2025 versus $756M in FY2021, a compound −15.6%/yr. Reported net income was −$44.4M in FY2025.

KDCXF screens 31% overvalued. Compare with SAP SE →

Peer Group

Software - Application · 724 stocks

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.

Valuation Multiples vs Software - Application median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.