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Kardex

SWX:KARN · CH0100837282
MachineryMedium

360

74
Medium confidence — indicative
EV / EBIT24
Price / Owner Earnings34
Owner Earnings Yield57
Dividend Yield57
Price/Sales20
EV / Gross Profit46
Price/Book8
Return on Capital100
Cash Return on Capital90
Return on Equity80
EBIT Margin64
Gross Profitability99
Cash Conversion45
Accruals45
Owner Earnings Margin55
Sales growth92
Profit Growth42
Long-Term EPS Growth93
Owner Earnings Growth30
Reinvestment69
Price momentum51
Debt load80
Refinancing17
Debt Payback100
Liquidity100
Analyst ratings82
Opinion Changes50
Price Target Upside88
Market mood85
Value Creation14/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Kardex generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountrySwitzerland
IndustryMachinery
SizeMedium
TypePublic Company
ExchangeSWX
Employees1,287
Websitekardex.com/en
ISINCH0100837282
Last UpdateApr 2, 2026
Indices
SPI (Switzerland)
Themes
Industrial AutomationStorage ManagementProcess Automation

Description

Kardex Holding AG (Kardex) is a company specializing in the provision of automated storage and retrieval systems, integrated material handling solutions, and digitization services and operates primarily in the fields of logistics and supply chain man…

Analysis

Quality compounder

Kardex Holding AG earns the quality_compounder label: good underlying economics priced fairly, with no obvious bargain or excess. Worth noting: the cash the business generates has lagged behind what the income statement shows.

On valuation, the picture is expensive. The owner-earnings multiple stands at 27.9×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 11% a year, against analyst forecasts of 44%. The price, in other words, assumes less than the experts do.

Growth is moderate; the safety picture is uncertain. The company scores 14/20 on our value-creation score: strong value creator.

Flags to be aware of: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
76
2023202420252026

All-time high

76

Jun 2026

All-time low

20

Jan 2023

Average rank

57

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
20
11
13
13
Price/Earnings
14
7
13
16
Price/Book
8
5
5
8
Dividend Yield
57
47
52
65
Value (overall)
17
10
12
15

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →