Kimball Electronics, Inc.
KEdata completeness 100%14 fiscal years on fileData notes: no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'
Kimball Electronics, Inc. earns about 7% on invested capital, below its ~9% cost of capital, with a roughly flat share count — no moat visible in the numbers. The estimate methods put fair value between $11.54 and $19.57 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|---|---|
| Revenue | $1.35B1 | $1.82B2 | $1.71B3 | $1.49B3 | $1.43B3 |
| Net income | $31.3M4 | $55.8M5 | $20.5M6 | $17M6 | $28M6 |
| Operating cash flow | −$83.2M7 | −$13.8M8 | $73.2M9 | $183.9M9 | $72.3M9 |
| Capital expenditure | $74M10 | $89.4M11 | $46.1M12 | $33.3M12 | $51.5M12 |
| Free cash flow (derived) | −$157.1M7 | −$103.2M8 | $27.1M9 | $150.7M9 | $20.8M9 |
| Total debt | — | — | $294.8M13 | $147.1M14 | $116.2M14 |
| Cash & equivalents | $49.9M15 | $43M16 | $78M17 | $88.8M17 | $88.9M17 |
| Diluted shares | 25.2M | 25.1M | 25.3M | 25.0M | 24.8M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $236.25 of net worth that earned you $11.29 and generated $8.39 of cash last year, against $46.92 of debt.
It earned about 7% on invested capital against a ~9% cost of capital — below the cost of funding. The numbers show no moat.
seeing a moat in the numbers →Share count is roughly flat over 5 years — little dilution, little buyback. Total debt has fallen 61% — deleveraging.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $11.54 and $19.57 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.8%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$27.1M
assumptions (10)
- riskFreeRate4.8%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$27.1M
assumptions (8)
- riskFreeRate4.8%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$28M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $14.26 |
| Base | 5.0% | $17.97 |
| Bull | 10.0% | $22.41 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 5.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 10-K · period ending 2022-06-30 · accession 0001606757-24-000024 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-06-30 · accession 0001606757-25-000027 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2024-06-30 · accession 0001606757-26-000032 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2022-06-30 · accession 0001606757-24-000024 (NetIncomeLoss)
- 10-K · period ending 2023-06-30 · accession 0001606757-25-000027 (NetIncomeLoss)
- 10-K · period ending 2024-06-30 · accession 0001606757-26-000032 (NetIncomeLoss)
- 10-K · period ending 2022-06-30 · accession 0001606757-24-000024 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-06-30 · accession 0001606757-25-000027 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2024-06-30 · accession 0001606757-26-000032 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-06-30 · accession 0001606757-24-000024 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-06-30 · accession 0001606757-25-000027 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2024-06-30 · accession 0001606757-26-000032 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2024-06-30 · accession 0001606757-25-000027 (LongTermDebt)
- 10-K · period ending 2025-06-30 · accession 0001606757-26-000032 (LongTermDebt)
- 10-K · period ending 2022-06-30 · accession 0001606757-24-000024 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2023-06-30 · accession 0001606757-25-000027 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2024-06-30 · accession 0001606757-26-000032 (CashAndCashEquivalentsAtCarryingValue)