Kennametal (KMT) FY2025 results: revenue $2.0 billion, down 3.9% on the year

Kennametal Inc. (KMT) reported revenue of $2.0 billion for fiscal 2025, the year ended 30 June 2025, down 3.9% on the year before. Net income was $93 million, down 14.8%, and diluted earnings per share $1.20. The figures are the company's own, from the 10-K it filed with the SEC on 12 August 2025.

Revenue

$2.0 billion

-3.9% on the year

FY2018FY2025

Operating margin

7.3%

8.3% a year earlier

FY2018FY2025

Net income

$93 million

-14.8% on the year

FY2018FY2025

Diluted EPS

$1.20

-12.4% on the year

FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ million	FY2025	FY2024	FY2023	On the year
Revenue	1,967	2,047	2,078	-3.9%
Cost of revenue	1,369	1,420	1,432	-3.6%
Gross profit	598	627	646	-4.6%
Gross margin	30.4%	30.6%	31.1%
Research and development	44.4	44.2	43.1	+0.5%
Selling, general and administrative	431	433	n/a	-0.5%
Operating income	143	170	192	-15.9%
Operating margin	7.3%	8.3%	9.3%
Interest expense	24.9	26.5	28.5	-5.8%
Pre-tax income	132	144	160	-8.6%
Income tax	33.3	30.8	36.3	+8.1%
Effective tax rate	25.2%	21.3%	22.7%
Net income	93.1	109	118	-14.8%
Net margin	4.7%	5.3%	5.7%
Diluted EPS	$1.20	$1.37	$1.46	-12.4%

$ million except per share.

Free 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	FY2025	FY2024	FY2023	On the year
Operating cash flow	208	277	258	-24.8%
Capital expenditure	89.0	108	94.4	-17.3%
Free cash flow	119	170	164	-29.6%
Free cash flow margin	6.1%	8.3%	7.9%
Cash from investing	-61.8	-109	-89.2
Cash from financing	-134	-142	-143
Depreciation and amortisation	136	135	134	+1.3%
Share-based compensation	22.1	24.3	24.7	-9.1%
Buybacks	60.1	65.6	49.3	-8.3%
Dividends paid	61.9	63.4	64.5	-2.5%
Dividend per share	$0.80	$0.80	$0.80	0.0%
Diluted shares, weighted	78m	80m	81m	-2.6%

Balance sheet

$ million	FY2025	FY2024	FY2023	On the year
Shareholders' equity	1,284	1,250	1,275	+2.7%
Non-controlling interest	40.7	38.7	38.7	+5.0%
Debt	597	596	595	+0.1%
Operating lease liabilities	33.4	35.6	32.2	-6.2%
Other liabilities	591	584	606	+1.2%
Total liabilities and equity	2,545	2,504	2,547	+1.7%
Fixed assets	920	938	969	-1.9%
Goodwill	283	272	270	+4.1%
Intangible assets	67.2	81.4	93.2	-17.5%
Cash and equivalents	141	128	106	+9.8%
Receivables	295	303	307	-2.4%
Inventory	538	515	558	+4.6%
Other assets	301	267	244	+12.8%
Total assets	2,545	2,504	2,547	+1.7%

10-K for the year ended 30 June 2025, filed 12 August 2025: the filing.