Kimball Electronics Inc KE

Information TechnologySemiconductors & Semiconductor EquipmentUnited States of America

Last close 27.01 USD on Nov 1, 2026, −7.0% year to date

Quant rating

Quant rating B Rank 138 of 389 in Information Technology

Growth C 208 of 389
Valuation B 61 of 389
Quality B 136 of 389
Revisions B 109 of 389
Momentum C 259 of 389

Wall Street consensus Buy (2.33)Average target 33.50 USD +24.0%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 620M
Enterprise value: 648M
52-week range: 21.56 – 32.00
3-year range: 12.91 – 33.13
Dividend yield: –
Beta (5 years): 1.22
Shares outstanding: 24.0M
Next earnings: Nov 4, 2026

About the company

Kimball Electronics, Inc. is a global, multifaceted manufacturer offering electronics manufacturing services (EMS) and contract manufacturing organization (CMO) solutions. It provides electronics manufacturing services, including engineering and supply chain support, to customers in the automotive, medical, and industrial end markets. Its CMO solutions include operations such as precision molded plastics and cold chain management to drug integration. The Company provides contract manufacturing services, including engineering and supply chain support, for the production of electronic assemblies and other products including medical devices, medical disposables, precision molded plastics, and complete device assembly primarily in automotive, medical, and industrial applications. The Company has acquired a Contract Development and Manufacturing Organization (CDMO), based in Europe and with operations in India focused on microfluidics, diagnostics, and drug delivery.

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	1,431	1,487	1,715	1,823	1,350	–
Revenue growth	−3.7%	−13.3%	−6.0%	35.1%	4.5%	2.1%
EPS (basic, normalized)	1.09	1.12	1.42	2.22	1.20	–
EPS growth	−2.7%	−21.1%	−36.0%	85.0%	–	–
Gross margin	8.2%	7.0%	8.2%	8.6%	7.8%	7.9%
Net margin	2.0%	1.4%	1.5%	3.5%	3.0%	2.3%
ROE	4.8%	3.7%	5.0%	13.0%	9.0%	7.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	88.9
Current ratio	2.09x
Long-term debt (mil)	108
Net debt (mil)	27.3
Total equity (mil)	585
Net debt / equity	0.05x
Net debt / EBITDA	0.26x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	1,431	−3.7%	0.5x	104	+17.3%	6.2x	1.09	−2.7%	24.8x
2027	1,544	+7.9%	0.4x	112	+7.5%	5.8x	1.60	+47.1%	16.8x
2028	1,608	+4.2%	0.4x	122	+8.6%	5.3x	1.80	+12.1%	15.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	1,544	0.0%	+0.4%	+3.7%	1.60	+2.4%	+14.9%	+8.3%
2028	1,608	0.0%	+0.5%	–	1.80	−1.7%	+8.7%	–
2029	–	–	–	–	–	–	–	–

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	425	430	374	357	375	380	366	341	353	372
Sales mean (mil)	440	446	375	360	338	333	338	339	356	373
Surprise	−3.4%	−3.6%	−0.1%	−0.7%	+10.8%	+14.2%	+8.0%	+0.6%	−0.9%	−0.5%
EPS reported	0.34	0.33	0.22	0.29	0.27	0.34	0.49	0.28	0.33	−0.01
EPS mean	0.40	0.44	0.27	0.23	0.19	0.15	0.26	0.26	0.33	0.39
Surprise	−15.4%	−24.7%	−17.8%	+28.9%	+42.1%	+132.5%	+88.8%	+9.8%	−0.8%	−102.6%

Peer comparison Semiconductors & Semiconductor Equipment

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
KE Kimball Electronics Inc	620M	0.26x	2.0%	1.06x	16.8x	15.0x	5.8x	5.3x
TTMI TTM Technologies Inc	8.7B	1.71x	5.9%	4.28x	16.8x	10.0x	11.4x	7.3x
ROG Rogers Corporation	2.4B	−1.99x	−7.6%	1.94x	33.5x	29.5x	14.3x	12.8x
LASR nLIGHT, Inc.	2.1B	−14.08x	−9.0%	4.87x	78.4x	61.3x	49.7x	39.6x
SHMD SCHMID Group NV	171M	–	−106.1%	−5.04x	−77.8x	9.7x	29.1x	8.0x
NSYS Nortech Systems Inc	30M	–	−0.2%	0.84x	–	–	–	–
Mean		−3.52x	−19.2%	1.32x	13.6x	25.1x	22.1x	14.6x
Median		−0.86x	−3.9%	1.50x	16.8x	15.0x	14.3x	8.0x

Technical analysis

1M−6.1%
3M+4.9%
1Y−11.6%
3Y+2.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Kimball Electronics Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	1,431	1,487	1,715	1,823	1,350	1,292
Cost of revenue	1,314	1,382	1,574	1,667	1,245	1,174
Gross profit	117	104	140	156	105	118
Selling, general & administrative expenses	58.5	48.0	63.2	63.8	53.4	52.7
Research & development	–	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	−9.7	8.6	25.2	–	−1.4	0
Other operating expenses	2.7	2.3	2.5	4.6	0	−0.4
Operating income	66.1	45.5	49.3	87.7	52.5	65.7
Net interest income (expense)	−7.9	−15.1	−22.9	−12.6	−8.3	2.7
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−5.0	−4.2	−1.1	−0.3	−0.5	1.6
Net income before taxes	53.2	26.2	25.2	74.7	43.7	70.1
Provision for taxes	25.3	5.9	−1.2	11.1	3.6	3.5
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	28.0	20.3	26.4	63.6	40.2	66.6
Extraordinary items	–	−3.3	−5.9	−7.8	−8.9	−9.8
Net income	28.0	17.0	20.5	55.8	31.3	56.8
EBIT, normalized	56.3	54.1	74.5	87.7	51.2	65.7
EBITDA, normalized	95.0	91.1	113	120	80.6	99.7
Basic EPS, normalized	1.09	1.12	1.42	2.22	1.20	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Kimball Electronics Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	88.9	88.8	78.0	43.0	49.9	106
Receivables	289	294	359	387	287	249
Total inventory	272	274	338	450	396	200
Prepaid expenses	42.1	35.3	43.9	48.3	28.7	27.3
Other current assets	0.7	7.5	28.4	0.9	0	0
Total current assets	693	700	847	929	761	583
Property, plant & equipment	285	277	270	270	210	165
Goodwill	6.2	6.2	6.2	12.0	12.0	12.0
Intangibles	1.9	2.4	3.0	12.3	14.7	17.0
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	106	92.5	82.1	35.7	38.0	36.8
Total assets	1,092	1,077	1,208	1,260	1,036	814
Liabilities
Accounts payable	234	219	214	322	309	217
Payable/accrued	–	–	–	–	–	–
Accrued expenses	58.5	44.6	60.7	72.5	42.1	50.4
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	8.2	17.4	59.8	46.5	35.6	26.2
Other current liabilities	31.0	37.8	41.2	33.9	22.5	7.6
Total current liabilities	332	319	375	475	409	301
Long-term debt	108	130	235	235	145	40.0
Minority interest	–	–	–	–	–	–
Other liabilities	66.8	59.2	57.1	25.6	28.1	31.3
Total liabilities	507	507	667	736	582	372
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0	0	0	0	0	0
Additional paid-in capital	326	323	319	315	311	308
Retained earnings (accumulated deficit)	362	334	317	296	240	209
Treasury stock	−97.5	−88.0	−77.8	−76.5	−77.7	−70.2
Other equity	−4.7	1.1	−17.8	−11.0	−19.7	−4.9
Total equity	585	570	540	524	454	442
Total liabilities & shareholders' equity	1,092	1,077	1,208	1,260	1,036	814

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Kimball Electronics Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	28.0	17.0	20.5	55.8	31.3	56.8
Depreciation, depletion & amortization	38.7	37.0	38.0	32.4	29.4	34.0
Deferred taxes	0.5	−6.2	−8.9	−1.7	0.8	−5.8
Non-cash items	−4.4	8.8	33.0	6.9	8.2	4.7
Changes in working capital	9.5	127	−9.4	−107	−153	40.4
Cash from operations	72.3	184	73.2	−13.8	−83.2	130
Investing activities
Capital expenditures	−51.7	−33.7	−47.0	−90.7	−74.7	−39.4
Other investing cash flows	25.7	19.0	0.5	0.2	−0.1	0.6
Cash from investing	−25.9	−14.7	−46.5	−90.5	−74.8	−38.8
Financing activities
Financing cash flow items	−4.2	−1.5	−1.6	−1.5	−2.2	2.2
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−42.8	−159	10.6	101	106	−55.3
Cash from financing	−47.0	−161	9.0	99.2	104	−53.1
Foreign exchange effects	0.9	2.3	−0.8	−0.9	−2.4	3.2
Net change in cash	0.2	10.7	34.9	−6.0	−56.6	41.5
Free cash flow	20.6	150	26.2	−104	−158	90.7

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.