Kadant Inc. supplies technologies and engineered systems worldwide. The company operates through three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems, equipment, and integrated technologies, such as rotary joints, syphons, Turbulator bars, expansion joints, and engineered steam and condensate systems, as well as doctor systems and holders, doctor blades, cleaning showers and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems. The Industrial Processing segment provides ring and rotary debarkers, stranders, chippers, engineered knife systems, and industrial automation and control products. This segment also offers recycling and approach flow systems, virgin pulping process equipment, boiler cleaning technologies, and single and double-screw presses. The Material Handling segment provides vibratory and conveying equipment; individual components and equipment for baling recyclable and waste materials; and fiber-based products. It sells its products and services through direct sales, independent sales agents, and distributors. The company was formerly known as Thermo Fibertek, Inc. and changed its name to Kadant Inc. in July 2001. Kadant Inc. was incorporated in 1991 and is headquartered in Westford, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.1B | $210M | $102M | $154M | 10.4% | -0.1% | -8.6% |
| 2024 | $1.1B | $223M | $112M | $134M | 13.2% | 10.0% | -3.9% |
| 2023 | $958M | $201M | $116M | $134M | 15.0% | 5.9% | -4.0% |
| 2022 | $905M | $207M | $121M | $74M | 18.5% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 904.74 | 957.67 | 1,053.38 | 1,052.25 |
| Cost Of Revenue | - | 515.18 | 541.37 | 587.24 | 576.52 |
| Gross Profit | - | 389.56 | 416.31 | 466.15 | 475.73 |
| Operating Expense | - | 237.13 | 249.83 | 294.24 | 317.13 |
| Operating Income | - | 152.43 | 166.48 | 171.91 | 158.60 |
| EBITDA | - | 207.05 | 200.71 | 222.68 | 210.38 |
| EBIT | - | 172.11 | 167.41 | 173.10 | 159.16 |
| Pretax Income | - | 165.64 | 159.02 | 153.07 | 143.58 |
| Tax Provision | - | 43.91 | 42.21 | 40.52 | 39.90 |
| Net Income | - | 120.93 | 116.07 | 111.60 | 101.97 |
| Net Income Common Stockholders | - | 120.93 | 116.07 | 111.60 | 101.97 |
| Total Expenses | - | 752.31 | 791.19 | 881.47 | 893.65 |
| Interest Expense | - | 6.48 | 8.40 | 20.03 | 15.57 |
| Interest Income | - | 0.90 | 1.76 | 1.92 | 1.93 |
| Research And Development | - | 12.72 | 13.56 | 14.32 | 15.26 |
| Selling General And Administration | - | 224.40 | 236.26 | 279.92 | 301.86 |
| Normalized EBITDA | - | 188.19 | 201.43 | 223.34 | 211.69 |
| Normalized Income | - | 107.07 | 116.60 | 112.08 | 102.92 |
| Market Cap | 3,693 | 3,693 | 3,693 | 3,693 | 3,693 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Kadant Inc.this co. | KAI | $3.7B | 36.22β premium | 3.77 | 10.4% | 18.77 |
| Griffon Corporation | GFF | $4.2B | 84.78 | 58.58 | 69.1% | 20.34 |
| AAR Corp. | AIR | $3.9B | 351.64 | 3.63 | 1.0% | 31.54 |
| Brady Corporation | BRC | $3.8B | 20.14 | 3.20 | 15.9% | 13.44 |
| SkyWest, Inc. | SKYW | $3.5B | 8.08 | 1.26 | 15.6% |
| - |
| - |
| - |
| - |
| 5.62 |
| Korn Ferry | KFY | $3.5B | 13.88 | 1.83 | 13.2% | 6.68 |
| Hayward Holdings, Inc. | HAYW | $3.3B | 22.06 | 2.10 | 9.5% | 13.20 |
| Standex International Corporation | SXI | $3.3B | 59.40 | 4.65 | 7.8% | 29.74 |
| Kennametal Inc. | KMT | $3.0B | 32.08 | 2.33 | 7.3% | 11.89 |
| Peer Median | - | 27.07 | 2.76 | 11.3% | 13.32 | |