Kadant (KAI) FY2023 results: revenue $958 million, up 5.9% on the year
Kadant Inc. (KAI) reported revenue of $958 million for fiscal 2023, the year ended 30 December 2023, up 5.9% on the year before. Net income was $116 million, down 4.0%, and diluted earnings per share $9.90. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.
Revenue
$958 million
+5.9% on the year
FY2016FY2023
Operating margin
17.3%
18.9% a year earlier
FY2016FY2023
Net income
$116 million
-4.0% on the year
FY2016FY2023
Diluted EPS
$9.90
-4.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
166
103
162
+61.3%
Capital expenditure
31.9
28.2
12.8
+12.9%
Free cash flow
134
74.4
150
+79.6%
Free cash flow margin
14.0%
8.2%
19.0%
Cash from investing
-30.8
-29.5
-154
Cash from financing
-111
-80.6
22.8
Depreciation and amortisation
33.3
34.9
34.3
-4.7%
Share-based compensation
9.8
8.6
8.5
+13.9%
Dividends paid
13.2
12.0
11.5
+10.2%
Dividend per share
$1.16
$1.04
$1.00
+11.5%
Diluted shares, weighted
12m
12m
12m
+0.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
774
654
564
+18.3%
Non-controlling interest
2.5
1.7
1.7
+47.4%
Debt
111
201
270
-44.9%
Operating lease liabilities
19.4
17.8
20.0
+8.6%
Finance lease liabilities
0.8
1.0
0.7
-16.0%
Other liabilities
268
274
276
-2.2%
Total liabilities and equity
1,176
1,150
1,132
+2.2%
Goodwill
392
385
397
+1.7%
Intangible assets
159
176
199
-9.3%
Loans
n/a
n/a
1.4
Cash and equivalents
104
76.4
91.2
+36.0%
Receivables
134
130
117
+2.8%
Inventory
153
164
134
-6.7%
Other assets
234
218
192
+7.1%
Total assets
1,176
1,150
1,132
+2.2%
10-K for the year ended 30 December 2023, filed 27 February 2024: the filing.