Kardex Holding AG

SWX:KARN Stock Report

Market Cap: CHF 2.2b

Kardex Holding Valuation

Is KARN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of KARN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

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Learn how to determine fair value like the best investors in the world.

Below Fair Value: KARN (CHF287.5) is trading above our estimate of fair value (CHF282.3)

Significantly Below Fair Value: KARN is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KARN?

Key metric: As KARN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for KARN. This is calculated by dividing KARN's market cap by their current earnings.
What is KARN's PE Ratio?
PE Ratio30.3x
Earnings€78.70m
Market Cap€2.38b

Price to Earnings Ratio vs Peers

How does KARN's PE Ratio compare to its peers?

The above table shows the PE ratio for KARN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average40.6x
BCHN Burckhardt Compression Holding
17.8x4.57%CHF 1.9b
DAE Dätwyler Holding
93.8x38.20%CHF 2.9b
INRN Interroll Holding
32x8.96%CHF 1.9b
SFSN SFS Group
18.9x8.55%CHF 4.5b
KARN Kardex Holding
30.3x10.38%CHF 2.2b

Price-To-Earnings vs Peers: KARN is good value based on its Price-To-Earnings Ratio (30.3x) compared to the peer average (40.6x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does KARN's PE Ratio compare vs other companies in the European Machinery Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
KARN 30.3xIndustry Avg. 21.6xNo. of Companies27PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KARN is expensive based on its Price-To-Earnings Ratio (30.3x) compared to the European Machinery industry average (21.6x).

Price to Earnings Ratio vs Fair Ratio

What is KARN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KARN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio30.3x
Fair PE Ratio23.3x

Price-To-Earnings vs Fair Ratio: KARN is expensive based on its Price-To-Earnings Ratio (30.3x) compared to the estimated Fair Price-To-Earnings Ratio (23.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst KARN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 287.50
CHF 348.56
+21.24%
11.80%CHF 401.00CHF 270.00n/a6
Jan ’27CHF 276.50
CHF 348.17
+25.92%
11.79%CHF 401.00CHF 270.00n/a6
Dec ’26CHF 278.00
CHF 351.78
+26.54%
12.53%CHF 401.00CHF 270.00n/a5
Nov ’26CHF 302.00
CHF 359.18
+18.93%
8.59%CHF 401.00CHF 307.00n/a5
Oct ’26CHF 307.00
CHF 359.88
+17.22%
8.54%CHF 401.00CHF 307.00n/a5
Sep ’26CHF 326.50
CHF 373.09
+14.27%
4.71%CHF 401.00CHF 356.38n/a4
Aug ’26CHF 314.00
CHF 322.72
+2.78%
14.40%CHF 401.00CHF 280.00n/a4
Jul ’26CHF 275.50
CHF 322.06
+16.90%
14.03%CHF 398.00CHF 280.00n/a4
Jun ’26CHF 244.50
CHF 301.12
+23.16%
14.79%CHF 378.00CHF 270.00n/a4
May ’26CHF 206.50
CHF 302.78
+46.62%
14.43%CHF 378.00CHF 270.00n/a4
Apr ’26CHF 231.00
CHF 302.78
+31.07%
14.43%CHF 378.00CHF 270.00n/a4
Mar ’26CHF 261.00
CHF 277.35
+6.27%
13.62%CHF 339.00CHF 225.00n/a5
Feb ’26CHF 282.50
CHF 277.35
-1.82%
13.62%CHF 339.00CHF 225.00n/a5
Jan ’26CHF 270.50
CHF 272.74
+0.83%
14.33%CHF 342.00CHF 225.00CHF 276.505
Dec ’25CHF 273.50
CHF 273.17
-0.12%
14.34%CHF 342.00CHF 225.00CHF 278.005
Nov ’25CHF 262.50
CHF 273.17
+4.06%
14.34%CHF 342.00CHF 225.00CHF 302.005
Oct ’25CHF 272.50
CHF 265.97
-2.40%
14.75%CHF 342.00CHF 225.00CHF 307.006
Sep ’25CHF 275.00
CHF 265.97
-3.29%
14.75%CHF 342.00CHF 225.00CHF 326.506
Aug ’25CHF 267.50
CHF 262.93
-1.71%
14.61%CHF 342.00CHF 225.00CHF 314.006
Jul ’25CHF 230.50
CHF 257.71
+11.80%
11.54%CHF 316.00CHF 225.00CHF 275.506
Jun ’25CHF 249.00
CHF 252.74
+1.50%
11.36%CHF 312.00CHF 220.00CHF 244.507
May ’25CHF 244.00
CHF 252.74
+3.58%
11.36%CHF 312.00CHF 220.00CHF 206.507
Apr ’25CHF 253.00
CHF 250.33
-1.06%
11.44%CHF 307.00CHF 220.00CHF 231.006
Mar ’25CHF 235.00
CHF 244.00
+3.83%
11.06%CHF 294.00CHF 210.00CHF 261.006
Feb ’25CHF 224.00
CHF 242.57
+8.29%
10.40%CHF 294.00CHF 210.00CHF 282.507
Jan ’25CHF 218.00
CHF 234.00
+7.34%
6.46%CHF 255.00CHF 210.00CHF 270.506
CHF 348.56
Fair Value
17.5% undervalued intrinsic discount
6
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/01/12 04:21
End of Day Share Price 2026/01/12 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Kardex Holding AG is covered by 13 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Lasse StuebenBerenberg
Constantin HesseJefferies LLC
Martin ComtesseJefferies LLC