Kendrion NV (KENDR) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Kendrion NV stock €15.61, price €19.24, that is 18.9% below the price, quality 61 out of 100. Rating: 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 5, 2026.
How to read this chart
60‑month range €8.16 – €21.60 · fair‑value band €11.02 – €21.43 · the €19.24 price screens above the €15.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Kendrion N.V. develops, manufactures, and sells actuators and control systems in the Netherlands, Germany, the rest of Europe, the Americas, Asia, and internationally. It operates through Industrial Brakes; Industrial Actuators and Controls; and Other business segments.
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The company provides industrial brakes, such as permanent magnet, spring-applied, and electromagnetic brakes; linear, locking, oscillating, and rotary solenoids, as well as solenoids and valves; holding and permanent magnets; actuators; door lock systems; optical beam shutters; solenoid pinch valves; electronic modules and rectifiers; service and spare parts; customer solutions; electromagnetic clutches, clutch brake units, and magnetic particle and pneumatic clutches and brakes; solenoid, pinch, mechanically, and pneumatically actuated valves; pneumatic timers; pressure regulators; and fluid and air boards.
Further, it offers electronics and embedded systems; industrial control systems, such as EtherCAT I/O and control systems, industrial controller, industrial touch panels, machinery safety, motion control, software for industrial controller, and CODESYS starter kits; and induction heating systems for the plastic processing industry, textile industry, and paper industry.
The company serves wind energy, robotics, medical devices, factory automation, energy distribution, and industrial heating processes industries. The company was formerly known as Schuttersveld N.V. and changed its name to Kendrion N.V. in 2001.
Kendrion N.V. was founded in 1859 and is headquartered in Amsterdam, the Netherlands.
Stock analysis
Kendrion NV (KENDR) currently trades at €19.24, while our model-based Fair Value estimate is €15.61, 19% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €18.66 per share, and 5 of the 24 models we run sit above the €19.24 price.
Bear case: the Asset-Based group reads lowest at €2.17, and 19 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: €11.02 (bear) to €21.43 (bull), the price of €19.24 sits inside 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 61/100 (solid quality), in the Industrials sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Kendrion NV reported revenue of €246M in FY2025 versus €464M in FY2021, a compound −14.7%/yr. Reported net income was €14.5M in FY2025, compounding +0.2%/yr from FY2021.
Key figures
Market cap €298M Small · P/E ratio 18.0 · P/S ratio 1.26 · EPS (TTM) €1.07 · Dividend yield 7.5% · Net margin 8.3% · Return on equity 11.1% · Return on assets (EBIT) 6.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 53% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at −19%, KENDR screens cheaper than that median.
Fair Value models
Bear€11.02Fair Value €15.61Bull€21.43
Price €19.24 · Downside -18.9%
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.
Best data coverage
FCF DCF€13.58€18.36€26.5081
Growth DCF€14.10€18.65€25.7979
Owner Earnings€10.93€14.87€21.5877
All 24 models by family
DCF Models
FCF DCF€13.58€18.36€26.5081
Owner Earnings€10.93€14.87€21.5877
5Y Revenue Exit€11.66€16.99€24.7172
5Y EBITDA Exit€15.50€23.63€34.3975
5Y P/E Exit€12.68€18.75€26.0271
10Y Revenue Exit€12.11€15.92€19.9468
10Y EBITDA Exit€14.56€19.74€25.2169
10Y P/E Exit€12.97€16.93€20.6565
Earnings-Based
Graham-Dodd€6.51€7.95€8.9467
EPV€8.05€9.40€10.5474
Dividend Discount
Gordon GGM€10.39€11.23€12.4869
DDM Multi-Stage€10.39€12.47€15.1967
Multiples
P/E Multiple€15.79€21.05€26.3163
P/S Multiple€12.20€16.26€20.3358
P/B Multiple€9.72€12.96€16.2055
EV/EBIT€16.97€23.30€29.6266
EV/EBITDA€19.56€26.74€33.9367
EV/Revenue€10.79€16.27€21.7553
Asset-Based
NCAV (Graham)€1.62€2.17€3.2454
Growth DCF
Growth DCF€14.10€18.65€25.7979
Rev-Margin DCF€11.66€17.38€24.4673
Economic Profit
Residual Income€8.48€9.18€10.2476
ROIC Compounder€8.05€9.40€10.6572
Growth Earnings
Growth-Adj P/E€11.13€15.90€20.6667
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
−13.4%
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.
−6.1%
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.
−4.5%
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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.
≈ +23.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +16.2%
Dividend (yield on the price)7.5%
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.base effect: 16.2% / −0.3%
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.8% → 9%
⚠ Revenue per share shrinking 4.8%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.59 per share, median 1.19 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
Growth Forecast
Price in line with expectations
The price assumes more growth than the company has delivered so far and about what 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).
+4.2%
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.
+4.0%
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 +2.0% a year for the price and +1.8% for the forecasts.
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.Specialty Industrial Machinery · 813 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside−16.2% · Above median
Profitability
Return on equity (12 months)11.1% · Above median
Return on assets5.3% · Above median
Net margin (12 months)8.3% · Above median
Operating margin (12 months)11.5% · Above median
Growth and dividend
Revenue growth (quarter YoY)5.0% · Below median
Dividend yield (12 months)7.5% · Top 25%
Balance sheet
Debt / equity0.34× · Highest 25%
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
P/E (12 months)18.0× · Cheaper than median
P/B2.10× · Pricier than median
P/S (12 months)1.26× · Cheaper than median
Price / free cash flow (fiscal year)13.3× · Cheaper than median
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). "Kendrion NV Fair Value". https://www.fairvalue-calculator.com/stock/KENDR
Frequently asked questions
Is Kendrion NV (KENDR) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of €15.61 versus a price of €19.24, about 19% lower (overvalued).
What is the fair value of KENDR?
Our model-based fair value for Kendrion NV is €15.61 (as of Nov 5, 2026), built from audited fundamentals. The current price: €19.24.
What is the quality score of KENDR?
Kendrion NV has a Quality Score of 61/100. 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 Kendrion NV (KENDR)?
Our model-based price target is the fair value of €15.61 (as of Nov 5, 2026) from 24 valuation models. Cautious scenario €11.02, optimistic scenario €21.43. It is a calculation from audited fundamentals, not an analyst target.
What is the Kendrion NV stock forecast for 2026?
Our models put fair value at €15.61, about 19% lower versus a price of €19.24 (overvalued). Cautious scenario €11.02, optimistic scenario €21.43. The calculation is refreshed regularly with new filings.
What is the revenue of Kendrion NV (KENDR)?
Kendrion NV reported trailing-twelve-month revenue of about €256M (latest available figure, as of Nov 5, 2026).
Does Kendrion NV pay a dividend?
Kendrion NV currently shows a dividend yield of 7.54% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Kendrion NV (KENDR) and when is the ex-dividend date?
Kendrion NV pays a dividend of €1.45 per share a year, a dividend yield of 7.5%. The last ex-dividend date was Apr 15, 2026. A dividend has been paid every year since 2021. The payout ratio is 136% of earnings. Free cash flow covers the dividend 1.10 times. Our assessment: Payout strained. The dividend exceeds reported earnings (though reported profit is often depressed by one-off charges), and free cash flow only just covers it (or coverage is unknown). Not an emergency, but little room for error.
What growth is priced into Kendrion NV (KENDR)?
For today's price to be fair in a discounted-cash-flow model, Kendrion NV would have to grow free cash flow by +4.2 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -9.1 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of KENDR use?
Our models discount Kendrion NV at 10.6 %: a base by market capitalisation (small), damped by beta 0.87, country premium for Netherlands. 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 Kendrion NV that is +4.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has Kendrion NV (KENDR) delivered so far?
Over the past 5 years revenue at Kendrion NV grew -9.1 % a year. The price currently implies free-cash-flow growth of +4.2 % 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 Kendrion NV (KENDR) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Kendrion NV (+4.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Kendrion NV (KENDR)?
The free-cash-flow yield on the price is 8.12 %: that much free cash flow Kendrion NV produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kendrion NV (KENDR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kendrion NV it is €15.61 per share (as of Nov 5, 2026), against a price of €19.24. 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 Kendrion NV stock overvalued or undervalued in 2026?
As of Nov 5, 2026, KENDR trades above its calculated fair value: price €19.24, fair value €15.61, a gap of about −19% (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 KENDR?
No. The price is what the market pays today (€19.24); the fair value is what the company's own numbers justify (€15.61). For Kendrion NV the two are €3.63 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kendrion NV worth?
The market values Kendrion NV at about €298M (market capitalisation, as of Nov 5, 2026). Per share that is €19.24; our models calculate a fair value of €15.61 per share.
What do the bullish and bearish scenarios say about KENDR?
Our models span a range for Kendrion NV: cautious scenario €11.02, base €15.61, optimistic €21.43 per share (as of Nov 5, 2026, price €19.24). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KENDR?
Kendrion NV trades at a price-to-earnings ratio of 18.0 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €15.61 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2016 to 2025), reported earnings: 22.9. Other multiples: P/B 2.1, P/S 1.3, EV/EBITDA 9.1.
How solid is the balance sheet of Kendrion NV (KENDR)?
Balance-sheet figures for Kendrion NV (as of Nov 5, 2026): return on equity 11.1%, debt of 0.34 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is KENDR from its 52-week high?
Kendrion NV trades at €19.24, about 11% below its 52-week high of €21.60 and 53% above the low of €12.54 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of €15.61 is for.
Which stocks are comparable to Kendrion NV?
From the same area (Industrials) we also value SIE, GE Vernova Inc, Eaton Corporation, Parker-Hannifin Corporation, 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 Kendrion NV stock attractive at the current price?
The data as of Nov 5, 2026: price €19.24, calculated fair value €15.61 (−19%), Quality Score 61/100, 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 KENDR calculated?
We run Kendrion NV 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 €15.61 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 13.3% above its aggregate fair value. Kendrion NV 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 Kendrion NV (KENDR)?
The closing price on Nov 9, 2026 was €19.24. Our model-based fair value is €15.61, about 19% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kendrion NV right now?
Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (€11.02 to €21.43) leaves room in how you read the outcome.
Where does the earnings growth of Kendrion NV (KENDR) come from?
Earnings per share at Kendrion NV grew −4.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share −5.2 %, EBIT margin +7.1 %, tax rate −1.0 %, residual (interest, one-offs) −4.5 %. 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 Kendrion NV
How large is the market capitalisation of Kendrion NV (KENDR)?
The market capitalisation of Kendrion NV is €298M. 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 Kendrion NV (KENDR)?
The price-to-sales ratio of Kendrion NV is 1.26 (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 Kendrion NV (KENDR)?
Earnings per share at Kendrion NV are €1.07 (price ÷ EPS = P/E 18.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kendrion NV (KENDR)?
The dividend yield of Kendrion NV is 7.5% (payout 136%). 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 Kendrion NV (KENDR)?
The net margin of Kendrion NV is 8.3% (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 Kendrion NV (KENDR)?
The return on equity (ROE) of Kendrion NV is 11.1% (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 Kendrion NV (KENDR)?
On an EBIT basis the return on assets of Kendrion NV is 6.3% (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 Kendrion NV (KENDR)?
The operating margin of Kendrion NV is 11.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kendrion NV (KENDR)?
Revenue at Kendrion NV is growing +5.0% versus a year earlier (3y avg −22.1%). 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 Kendrion NV (KENDR)?
Earnings per share at Kendrion NV are growing +10.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Kendrion NV (KENDR) carry?
The net debt of Kendrion NV is €30.3M (fiscal year 2025, ≈ 1.3 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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Broad data
Nov 5, 2026