# Kennametal Inc. (KMT)

> Source: Nexqual · https://nexqual.com/KMT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Kennametal Inc. (KMT), nexqual.com/KMT" · informational, not investment advice.

**Price:** USD 29.59 (-4.89% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 31.11 · day 28.86–30.56 · 52w 21.7–43.81 · market cap $2.26B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.36B, net income $342M (14.5% margin), free cash flow -$80.9M (SEC filings).
- Valuation: P/E 6.6x (avg 14.8x at the last 3 fiscal year-ends), EV/EBITDA 4.6x, net debt $589M.
- 1 of 80 tracked superinvestors hold KMT (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Sell (mean 3.75 on a 1–5 scale) (8 analysts), mean target USD 31.43 (range 27–35).
- Total return with dividends: 1Y +33.3% vs S&P 500 +14.9%; 5Y -10.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 2.65, revenue estimate $770M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.01B | $2.08B | $2.05B | $1.97B | $2.36B | $2.36B |
| Gross profit | $648M | $646M | $627M | $598M | $970M | — |
| Operating income | $218M | $192M | $170M | $143M | $473M | $473M |
| Net income | $145M | $118M | $109M | $93.1M | $342M | $342M |
| EPS (diluted) | $1.72 | $1.46 | $1.37 | $1.20 | $4.42 | — |
| Free cash flow | -$278M | $164M | $170M | $119M | -$80.9M | -$80.9M |
| Gross margin | 32.2% | 31.1% | 30.6% | 30.4% | 41.2% | — |
| Operating margin | 10.8% | 9.3% | 8.3% | 7.3% | 20.1% | 20.1% |
| Net margin | 7.2% | 5.7% | 5.3% | 4.7% | 14.5% | 14.5% |
| Revenue growth | +9.3% | +3.3% | -1.5% | -3.9% | +19.8% | — |
| Cash + short-term investments | $85.6M | $106M | $128M | $141M | $95.8M | — |
| Total debt | $599M | $599M | $599M | $599M | $685M | — |
Fiscal years end Jun. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 6.6x · P/S 1.0x · EV/EBITDA 4.6x · EV/Sales 1.2x · P/B 1.4x · FCF yield -3.58% · Earnings yield 15.15% · Dividend yield (paid, TTM) 2.69% · Buyback yield (TTM) 0.45% · Net debt $589M · EV $2.85B
P/E at fiscal year-ends: Jun 2026 7.9x, Jun 2025 19.2x, Jun 2024 17.2x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold KMT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| John Rogers | Ariel Investments | <0.01% | $274K | Reduced -99.1% |

## Analysts
Consensus Sell (mean 3.75 on a 1–5 scale), 8 analysts; mean target USD 31.43 (low 27, high 35).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-08 | JP Morgan | Target lowered | Underweight | $34 → $30 |
| 2026-08-11 | DA Davidson | Target lowered | Neutral | $34 → $30 |
| 2026-08-10 | UBS | Target lowered | Neutral | $39 → $35 |
| 2026-08-10 | Morgan Stanley | Downgrade | Equal-Weight → Underweight | $31 → $27 |
| 2026-07-17 | Morgan Stanley | Target lowered | Equal-Weight | $36 → $31 |
| 2026-07-13 | JP Morgan | Target lowered | Underweight | $40 → $34 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +33.3% | -10.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +33.4% | -2.3% |
| Volatility (annualized) | 44.2% | 34.0% |
| Max drawdown | -31.9% (May 2026→Sep 2026) | -47.9% (Oct 2021→Apr 2025) |

## Peers (Tools & Accessories)
HLMN (Hillman Solutions Corp.) USD 7.36 +1.38% · TKR (Timken Company (The)) USD 108.4 -5.71% · TTC (Toro Company (The)) USD 105.32 +1.91% · LECO (Lincoln Electric Holdings, Inc.) USD 256.98 -2.34% · SWK (Stanley Black & Decker, Inc.) USD 98.97 +3.70% · RBC (RBC Bearings Incorporated) USD 478.03 -5.24%

## More
Full page: https://nexqual.com/KMT · 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 KMT's own 10-K filed 2026-08-12 (https://www.sec.gov/Archives/edgar/data/55242/000162828026056143/kmt-20260630.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Toolpath Labs | "Recent initiatives include our strategic partnerships with Toolpath Labs, Inc. during fiscal 2025 and ModuleWorks GmbH during fiscal 2024, which support our digital manufacturing and intelligent machining solutions strat…" |
| Partner | ModuleWorks | "Recent initiatives include our strategic partnerships with Toolpath Labs, Inc. during fiscal 2025 and ModuleWorks GmbH during fiscal 2024, which support our digital manufacturing and intelligent machining solutions strat…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Metal Cutting | $397.8M | 54.0% | +24.1% | $106.2M | 26.7% |
| Infrastructure | $338.8M | 46.0% | +73.0% | $197.4M | 58.3% |
| Total revenue | $736.6M | 100% | — | $302.9M | 41.1% |

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

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $1.02B | 43.2% | +28.1% |
| Germany | $297.9M | 12.6% | +12.9% |
| Other | $234.4M | 9.9% | +11.2% |
| China | $219.3M | 9.3% | +15.7% |
| India | $143.4M | 6.1% | +20.1% |
| Canada | $101.3M | 4.3% | +6.4% |
| Italy | $70.1M | 3.0% | +19.6% |
| France | $62.7M | 2.7% | +16.4% |
| Mexico | $58.5M | 2.5% | +30.9% |
| South Africa | $56.1M | 2.4% | +21.5% |
| Spain | $34.9M | 1.5% | +6.9% |
| United Kingdom | $32.6M | 1.4% | +2.1% |
| Brazil | $27.7M | 1.2% | +8.4% |
| Total revenue | $2.36B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.65 | $1.55 | +71.3% | $770.4M | 8 |
| Next quarter (ends 2026-12-31) | $1.36 | $0.99 | +37.7% | $840.6M | 5 |
| Current fiscal year (ends 2027-06-30) | $4.96 | $3.81 | +30.1% | $3.38B | 8 |
| Next fiscal year (ends 2028-06-30) | $2.44 | $2.38 | +2.5% | $3.48B | 5 |