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Kendrion N.V (KENDR) Fair Value & Analysis

Industrials · NL · Market cap €309M

KN Kendrion N.V KENDR · AS
Price€19.62
Fair Value€15.61
Upside-20.4%
Quality70/100
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Mixed Growth
Thin margins · 8.2% net margin
Low debt · generates free cash flow
3.59% dividend yield
Ranks above peers (11/14)
Moderate moat 47/100
Evidence: High Range €11.35 – €22.93 Share as image

Fair value as of: Jul 14, 2026

From 24 valuation models · updated 27 days ago

Fair value updated Jul 14, 2026, revised from €15.69 to €15.61 (−0.5%) since Jun 24, 2026. Share price +0.5% over the past month.

A solid business, but screening 20% overvalued on our models.

What matters now

  • A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • A fairly wide model range (€11.35 to €22.93) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€21.60 €8.16 Fair Value €15.61 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range €8.16 – €21.60 · fair‑value band €11.35 – €22.93 · the €19.62 price screens above the €15.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

Full chart & analysis →

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Analysis

Kendrion N.V (KENDR) currently trades at €19.62, while our model-based Fair Value estimate is €15.61, implying the stock looks roughly 20.4% overvalued today. The Quality Score stands at 70/100 (solid quality), in the Industrials 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: high).

Over the trailing twelve months, Kendrion N.V generated revenue of €253M at a net margin of 8.2%. Revenue declined 16.2% year over year. It earns a return on equity of 9.9%. Net debt stands at €30.3M. Fundamentals as of Jul 14, 2026

Our scenario range runs from €11.35 (bear case) to €22.93 (bull case); at €19.62, 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 about 9% below its 52-week high and 107% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -20%, KENDR 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.

Model 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. Evidence
Highest evidence
Growth DCF €11.51 €15.13 €20.73 80
Residual Income €8.10 €8.74 €9.72 76
Rev-Margin DCF €10.44 €15.80 €22.42 74
All 24 models by family
DCF Models
FCF DCF €11.10 €14.92 €21.32 38
Owner Earnings €10.63 €14.31 €20.47 31
5Y Revenue Exit €10.44 €15.47 €22.78 39
5Y EBITDA Exit €14.10 €21.81 €32.01 41
5Y P/E Exit €11.41 €17.15 €24.02 38
10Y Revenue Exit €10.38 €13.89 €17.61 36
10Y EBITDA Exit €12.69 €17.47 €22.56 37
10Y P/E Exit €11.19 €14.84 €18.28 35
Earnings-Based
Graham-Dodd €6.31 €7.71 €8.68 54
EPV €7.54 €8.77 €9.79 59
Dividend Discount
Gordon GGM €9.80 €10.56 €11.70 70
DDM Multi-Stage €9.80 €11.66 €14.07 61
Multiples
P/E Multiple €15.31 €20.42 €25.52 63
P/S Multiple €11.83 €15.78 €19.72 58
P/B Multiple €11.83 €15.78 €19.72 55
EV/EBIT €16.93 €23.07 €29.21 53
EV/EBITDA €19.44 €26.41 €33.38 54
EV/Revenue €10.94 €16.25 €21.57 43
Asset-Based
NCAV (Graham) €4.91 €6.58 €9.82 50
Growth DCF
Growth DCF €11.51 €15.13 €20.73 80
Rev-Margin DCF €10.44 €15.80 €22.42 74
Economic Profit
Residual Income €8.10 €8.74 €9.72 76
ROIC Compounder €7.54 €8.77 €9.79 72
Growth Earnings
Growth-Adj P/E €10.80 €15.42 €20.05 68

Widest divergence: Multiples (€16.25) versus Asset-Based (€6.58). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €253M
Revenue growth (YoY) +5.0%
Net margin 8.2%
Return on equity 9.9%
Free cash flow €24.2M FY2025
P/E ratio 19.7
More key figures
Operating margin 10.8%
EPS (TTM) €0.9900
Dividend yield 3.6%
EPS growth (YoY) +45.0%
Net debt €30.3M FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 68 · Market factors (momentum, volatility) 79

Profitability 42
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 78
Price trend over the last 3–12 months (market factor)
52W Momentum 92
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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. 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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kendrion N.V 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.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€246M
Avg. growth/yr (3Y) 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.
−13.4%
Avg. growth/yr (5Y) 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.
−6.1%
Avg. growth/yr (22Y) 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.
−4.5%
Revenue −14.7%/yr
FY21 €464M
FY22 €519M
FY23 €309M
FY24 €302M
FY25 €246M
Net income +0.2%/yr
FY21 €14.4M
FY22 −€46.3M
FY23 €9.9M
FY24 −€4.5M
FY25 €14.5M
Character of growth · EPS growth decomposed (2014-2025) −4.1 % p.a.
Revenue per share −5.2 pp

of which total revenue −5.0 pp · buybacks/dilution −0.3 pp

EBIT margin +7.1 pp
Tax rate −1.0 pp
Residual (interest, one-offs) −4.9 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

KENDR screens 20% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Kendrion N.V Fair Value". https://www.fairvalue-calculator.com/stock/KENDR

Peer Group

Specialty Industrial Machinery · 808 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.

Quality Score 70 · Top 25%
Fair Value upside −20% · Above median
Return on equity (TTM) 10% · Above median
Return on assets 5% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth 5% · Above median
Dividend yield (TTM) 3.6% · Top 25%
Debt / equity 0.34× · Higher than 75% of peers

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 19.7× · Cheaper than median
P/B 2.32× · Pricier than median
P/S (TTM) 1.41× · Cheaper than median
P/FCF 14.7× · Pricier than median
EV/EBITDA 10.2× · Cheaper than median

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 6 · sector 0
FUTURE 25 · sector 23
PAST 40 · sector 28
HEALTH 83 · sector 96
DIVIDEND 72 · sector 24

Insider activity: 45/100

Values & ESG

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

None of the checked exposures detected

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

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is Kendrion N.V (KENDR) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of €15.61 versus a price of €19.62, about −20% (overvalued).
What is the fair value of KENDR?
Our model-based fair value for Kendrion N.V is €15.61 (as of Jul 14, 2026), built from audited fundamentals. The current price is €19.62.
What is the quality score of KENDR?
Kendrion N.V has a Quality Score of 70/100. 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 revenue of Kendrion N.V (KENDR)?
Kendrion N.V reported trailing-twelve-month revenue of about €253M (latest available figure, as of Jul 14, 2026).
What is the net profit margin of KENDR?
The net profit margin of Kendrion N.V is about 8.2%, meaning it keeps roughly 8.2% of revenue as net income. Based on the latest reported figures.

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.

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