# Kimball Electronics, Inc. (KE)

> Source: Nexqual · https://nexqual.com/KE · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Kimball Electronics, Inc. (KE), nexqual.com/KE" · informational, not investment advice.

**Price:** USD 24.6 (-1.62% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 25.01 · day 24.03–25.12 · 52w 21.01–32 · market cap $590M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.43B, net income $28.0M (2.0% margin), free cash flow $20.8M (SEC filings).
- Valuation: P/E 21.1x (avg 26.0x at the last 3 fiscal year-ends), EV/EBITDA 5.9x, net debt $27.3M.
- Analysts: Buy (mean 2.33 on a 1–5 scale) (3 analysts), mean target USD 34 (range 30–37).
- Total return with dividends: 1Y -17.2% vs S&P 500 +13.4%; 5Y -14.4% vs S&P 500 +76.9%.
- Next earnings: 2026-11-04, EPS estimate USD 0.37, revenue estimate $386M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.35B | $1.82B | $1.71B | $1.49B | $1.43B | $1.43B |
| Gross profit | $105M | $156M | $140M | $104M | $117M | — |
| Operating income | $52.5M | $87.7M | $49.3M | $45.5M | $66.1M | $66.1M |
| Net income | $31.3M | $55.8M | $20.5M | $17.0M | $28.0M | $28.0M |
| EPS (diluted) | $1.24 | $2.22 | $0.81 | $0.68 | $1.13 | — |
| Free cash flow | -$157M | -$103M | $27.1M | $151M | $20.8M | $20.8M |
| Gross margin | 7.8% | 8.6% | 8.2% | 7.0% | 8.2% | — |
| Operating margin | 3.9% | 4.8% | 2.9% | 3.1% | 4.6% | 4.6% |
| Net margin | 2.3% | 3.1% | 1.2% | 1.1% | 2.0% | 2.0% |
| Revenue growth | +4.5% | +35.1% | -6.0% | -13.3% | -3.7% | — |
| Cash + short-term investments | $49.9M | $43.0M | $78.0M | $88.8M | $88.9M | — |
| Total debt | — | — | $295M | $147M | $116M | — |
Fiscal years end Jun. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 21.1x · P/S 0.4x · EV/EBITDA 5.9x · EV/Sales 0.4x · P/FCF 28.4x · P/B 1.0x · FCF yield 3.52% · Earnings yield 4.74% · Buyback yield (TTM) 2.01% · Net debt $27.3M · EV $617M
P/E at fiscal year-ends: Jun 2026 22.7x, Jun 2025 28.3x, Jun 2024 27.1x.

## Analysts
Consensus Buy (mean 2.33 on a 1–5 scale), 3 analysts; mean target USD 34 (low 30, high 37).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-02 | Keybanc | Initiated | Sector Weight |  |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -17.2% | -14.4% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -17.2% | -3.1% |
| Volatility (annualized) | 50.5% | 40.3% |
| Max drawdown | -27.9% (Jan 2026→Mar 2026) | -57.6% (Aug 2023→Apr 2025) |

## Peers (Electrical Equipment & Parts)
ENVX (Enovix Corporation) USD 2.79 +9.41% · EOSE (Eos Energy Enterprises, Inc.) USD 1.73 +1.17% · TE (T1 Energy Inc.) USD 2.29 -0.87% · ADSE (ADS-TEC ENERGY PLC) USD 9.7 +1.57% · FCEL (FuelCell Energy, Inc.) USD 11.11 -4.06% · AMPX (Amprius Technologies, Inc.) USD 8.18 +3.41%

## More
Full page: https://nexqual.com/KE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in KE's own 10-K filed 2026-08-19 (https://www.sec.gov/Archives/edgar/data/1606757/000160675726000032/ke-20260630.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Kimball Solutions | "The Kimball Solutions brand complements our long-standing electronics manufacturing services business and reflects our strategy to provide customers with a broader package of value through integrated manufacturing soluti…" |
| Customer | Helvoet Polymer Technologies | "The success of the Helvoet acquisition depends on our ability to integrate Helvoet's operations, employees, customers, information systems, financial and internal controls, and manufacturing processes with those of the C…" |
| Competitor | Flex (FLEX) | "Our competition includes EMS companies such as Benchmark Electronics, Inc., Flex Ltd., Jabil Inc., Plexus Corp., and Sanmina Corporation as well as specialized providers of medical device manufacturing, drug delivery sol…" |
| Competitor | Jabil (JBL) | "Our competition includes EMS companies such as Benchmark Electronics, Inc., Flex Ltd., Jabil Inc., Plexus Corp., and Sanmina Corporation as well as specialized providers of medical device manufacturing, drug delivery sol…" |
| Competitor | Sanmina (SANM) | "Our competition includes EMS companies such as Benchmark Electronics, Inc., Flex Ltd., Jabil Inc., Plexus Corp., and Sanmina Corporation as well as specialized providers of medical device manufacturing, drug delivery sol…" |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Automotive | $169.7M | 45.7% | -3.0% |
| Medical | $108.8M | 29.3% | +1.5% |
| Industrial | $93.1M | 25.1% | -5.3% |
| Total revenue | $371.6M | 100% | — |

## Revenue by region (fiscal year ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| MEXICO | $359.7M | 25.1% | -19.3% |
| UNITED STATES | $293.6M | 20.5% | -14.1% |
| Poland | $288.7M | 20.2% | +19.3% |
| CHINA | $236.5M | 16.5% | -8.6% |
| THAILAND | $158.6M | 11.1% | +19.9% |
| Other Foreign | $94.3M | 6.6% | +42.7% |
| Total revenue | $1.43B | 100% | — |

## Customer concentration

Period ended 2026-06-30: 18%, 11%, 11% of revenue from unnamed direct customers (10-K, filed 2026-08-19).

## Company outlook (8-K filed 2026-08-12)

- "COMPANY PROVIDES GUIDANCE FOR FISCAL 2027 HIGHLIGHTED BY ORGANIC SALES GROWTH AND ACCRETIVE IMPACT OF THE HELVOET ACQUISITION JASPER, Ind., August 12, 2026 -- (BUSINESS WIRE) -- Kimball Electronics, Inc."
- "Sales in Q4 were in line with expectations, adjusted operating income was better than estimates, and we generated strong cash from operations, which was used to pay down debt to its lowest level in over 4 years."
- "Our guidance for fiscal 2027 is highlighted by organic sales growth and the accretive impact from Helvoet."
- "Our guidance for fiscal 2027 projects a return to top line growth and we will be leveraging the balance sheet to support those efforts." Jana T."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.37 | $0.34 | +8.1% | $385.9M | 4 |
| Next quarter (ends 2026-12-31) | $0.39 | $0.34 | +12.9% | $382.1M | 4 |
| Current fiscal year (ends 2027-06-30) | $1.56 | $1.40 | +11.6% | $1.54B | 4 |
| Next fiscal year (ends 2028-06-30) | $1.83 | $1.60 | +14.2% | $1.61B | 4 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-04): ±20.0%; last 8 reports averaged ±11.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 89.9% | ±20.0% |
| 2027-02-19 | 119 | 56.6% | ±26.0% |
| 2027-05-21 | 210 | 52.4% | ±31.9% |