Kalmar
33.265
EUR
+1.82 %
KALMAR
NASDAQ Helsinki
Transport & Logistics
Industrials
1,879 following
+1.82%
+2.61%
+23.32%
-
-
-
-
-
+26%
www.kalmarglobal.com
Kalmar operates in freight handling for ports, terminals, distribution centers and heavy industry. The company develops various solutions, and provides, among other things, border tractors, terminal tractors, reach stackers, empty container handlers and forklifts. Kalmar is a spin-off of the Cargotec group. The company has its headquarters in Helsinki.
P/E (adj.) (24e)
13.72
EV/EBIT (adj.) (24e)
10.47
P/B (24e)
3.46
Dividend yield-% (24e)
3 %
Target price
35.00 EUR
Recommendation
Accumulate
Updated
4.11.2024
NASDAQ Helsinki
KALMAR
Daily low / high price
32.66 / 33.485
EUR
Market cap
2.14B EUR
Turnover
2.88M EUR
Volume
87K
Business risk
Valuation risk
Current
Previous
Latest research
Extensive report
Inderes' extensive report is an investor's handbook on customer companies covered by our research.
The latest extensive report was released
Read the reportAnalyst
Erkki Vesola
Analyst
Latest videos
Financial calendar
Annual report
13.02.2025
General meeting
27.03.2025
Interim report
29.04.2025
Interim report
25.07.2025
Interim report
31.10.2025
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,529.1 | 1,512.2 | 1,942.8 | 2,049.6 | 1,695.3 | 1,704.0 | 1,855.0 | 2,018.0 |
| growth-% | -11.3 % | -1.1 % | 28.5 % | 5.5 % | -17.3 % | 0.5 % | 8.9 % | 8.8 % |
| EBITDA | 165.3 | 373.7 | 170.6 | 297.3 | 242.5 | 271.2 | 300.2 | 344.1 |
| EBIT (adj.) | 154.5 | 100.3 | 168.9 | 254.7 | 214.2 | 216.5 | 242.7 | 280.2 |
| EBIT | 21.3 | 320.8 | 118.3 | 240.2 | 182.1 | 216.5 | 242.7 | 280.2 |
| Profit before taxes | -14.6 | 319.0 | 117.5 | 241.5 | 178.0 | 205.1 | 234.0 | 273.3 |
| Net income | -41.0 | 261.5 | 92.6 | 193.8 | 132.0 | 155.9 | 177.9 | 207.7 |
| EPS (adj.) | 0.92 | 0.64 | 2.05 | 3.18 | 2.43 | 2.42 | 2.77 | 3.23 |
| growth-% | -9.2 % | -30.8 % | 223.1 % | 54.6 % | -23.6 % | -0.1 % | 14.1 % | 16.8 % |
| Dividend | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 1.25 | 1.40 | 1.70 |
| Dividend ratio | 48.6 % | 51.5 % | 50.6 % | 52.6 % |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 10.8 % | 24.7 % | 8.8 % | 14.5 % | 14.3 % | 15.9 % | 16.2 % | 17.1 % |
| EBIT-% (adj.) | 10.1 % | 6.6 % | 8.7 % | 12.4 % | 12.6 % | 12.7 % | 13.1 % | 13.9 % |
| EBIT-% | 1.4 % | 21.2 % | 6.1 % | 11.7 % | 10.7 % | 12.7 % | 13.1 % | 13.9 % |
| ROE | 67.4 % | 11.4 % | 23.2 % | 18.4 % | 23.5 % | 23.4 % | 24.0 % | |
| ROI | 66.4 % | 12.3 % | 23.2 % | 18.1 % | 22.1 % | 24.3 % | 26.5 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 33.82 | 43.84 | 41.32 | 52.70 | 33.27 | 33.27 | 33.27 | 33.27 |
| Shares | 64.5 | 64.5 | 64.5 | 64.7 | 64.3 | 64.3 | 64.3 | 64.3 |
| Market cap | 2,180.8 | 2,826.9 | 2,664.4 | 3,409.7 | 2,139.7 | 2,139.7 | 2,139.7 | 2,139.7 |
| Enterprise value | 2,180.8 | 2,737.4 | 2,475.6 | 3,291.9 | 2,242.9 | 2,153.1 | 2,095.2 | 2,016.7 |
| EV/S | 1.4 | 1.8 | 1.3 | 1.6 | 1.3 | 1.3 | 1.1 | 1.0 |
| EV/EBITDA | 13.2 | 7.3 | 14.5 | 11.1 | 9.2 | 7.9 | 7.0 | 5.9 |
| EV/EBIT (adj.) | 14.1 | 27.3 | 14.7 | 12.9 | 10.5 | 9.9 | 8.6 | 7.2 |
| EV/EBIT | 102.4 | 8.5 | 20.9 | 13.7 | 12.3 | 9.9 | 8.6 | 7.2 |
| P/E (adj.) | 36.8 | 69.0 | 20.1 | 16.6 | 13.7 | 13.7 | 12.0 | 10.3 |
| P/E | - | 10.8 | 28.8 | 17.6 | 16.2 | 13.7 | 12.0 | 10.3 |
| P/B | - | 3.6 | 3.1 | 4.2 | 3.5 | 3.0 | 2.6 | 2.3 |
| P/S | 1.4 | 1.9 | 1.4 | 1.7 | 1.3 | 1.3 | 1.2 | 1.1 |
| Dividend yield | 3.0 % | 3.8 % | 4.2 % | 5.1 % | ||||
| Equity ratio | 44.1 % | 44.8 % | 44.3 % | 37.0 % | 42.7 % | 46.0 % | 49.4 % | |
| Gearing ratio | -11.5 % | -22.1 % | -14.4 % | 16.7 % | 1.9 % | -5.5 % | -13.3 % |
Quarter data
| Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24 | Q4/24e | 2024e | Q1/25e | Q2/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 509.6 | 2,049.6 | 439.1 | 416.5 | 424.7 | 415.0 | 1,695.3 | 386.3 | 416.2 |
| EBITDA | 67.4 | 297.3 | 61.2 | 49.8 | 69.5 | 62.0 | 242.5 | 58.8 | 67.8 |
| EBIT | 53.2 | 240.2 | 45.8 | 35.8 | 54.0 | 46.5 | 182.1 | 45.2 | 54.1 |
| Profit before taxes | 54.0 | 241.5 | 47.7 | 39.7 | 49.1 | 41.5 | 178.0 | 42.3 | 51.3 |
| Net income | 45.0 | 193.8 | 33.4 | 31.2 | 36.3 | 31.1 | 132.0 | 32.2 | 39.0 |
ShowingAll content types
Kalmar Corporation: Share Repurchase 2.12.2024
KALMAR CORPORATION: SHARE REPURCHASE 29.11.2024
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