Kennametal Inc. engages in development and application of tungsten carbides, ceramics, and hard materials and solutions worldwide. It operates through two segments, Metal Cutting and Infrastructure. The Metal Cutting segment offers milling, hole making, turning, threading, and toolmaking systems used in the manufacture of airframes, aero engines, trucks and automobiles, ships, and various types of industrial equipment under the Kennametal, WIDIA, WIDIA Hanita, and WIDIA GTD brands through its direct sales force, a network of independent and national distributors, integrated supplier channels, and digitally. Its Infrastructure segment produces engineered tungsten carbide and ceramic components, earth-cutting tools, and metallurgical powders, such as compacts, nozzles, frac seats, and custom components used in oil and gas and petrochemical industries; rod blanks and abrasive water jet nozzles for general industries; earth cutting tools and systems used in underground mining, trenching and foundation drilling, and road milling; tungsten carbide powders for the oil and gas, aerospace, and process industries; high temperature critical wear components, tungsten penetrators, and armor solutions for aerospace and defense; and ceramics used by the packaging industry for metallization of films and papers under the Kennametal brand through a direct sales force and distributors. The company was founded in 1938 and is based in Pittsburgh, Pennsylvania.
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 | $2.0B | $293M | $93M | $119M | 7.3% | -3.9% | -14.8% |
| 2024 | $2.0B | $306M | $109M | $170M | 8.7% | -1.5% | -7.7% |
| 2023 | $2.1B | $322M | $118M | $164M | 9.3% | 3.3% | -18.1% |
| 2022 | $2.0B | $364M | $145M | $85M | 11.5% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,012.46 | 2,078.18 | 2,046.90 | 1,966.84 |
| Operating Revenue | - | 2,012.46 | 2,078.18 | 2,046.90 | 1,966.84 |
| Cost Of Revenue | - | 1,364.48 | 1,431.74 | 1,419.81 | 1,368.78 |
| Gross Profit | - | 647.98 | 646.44 | 627.09 | 598.07 |
| Operating Expense | - | 432.08 | 449.92 | 444.72 | 441.62 |
| Total Expenses | - | 1,796.56 | 1,881.66 | 1,864.52 | 1,810.40 |
| Operating Income | - | 215.90 | 196.52 | 182.38 | 156.45 |
| Total Operating Income As Reported | - | 218.14 | 192.42 | 170.22 | 143.12 |
| EBITDA | - | 364.32 | 322.14 | 305.61 | 293.43 |
| Normalized EBITDA | - | 362.08 | 326.25 | 317.76 | 306.76 |
| EBIT | - | 232.65 | 188.12 | 170.92 | 156.93 |
| Interest Expense | - | 25.91 | 28.50 | 26.47 | 24.93 |
| Net Interest Income | - | -25.91 | -28.50 | -26.47 | -24.93 |
| Other Non Operating Income Expenses | - | 14.51 | -4.30 | 0.70 | 13.81 |
| Other Income Expense | - | 16.75 | -8.41 | -11.45 | 0.49 |
| Interest Expense Non Operating | - | 25.91 | 28.50 | 26.47 | 24.93 |
| Net Non Operating Interest Income Expense | - | -25.91 | -28.50 | -26.47 | -24.93 |
| Pretax Income | - | 206.73 | 159.62 | 144.45 | 132 |
| Tax Provision | - | 56.53 | 36.26 | 30.81 | 33.30 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.61 | -0.93 | -2.59 | -3.36 |
| Net Income Continuous Operations | - | 150.20 | 123.37 | 113.64 | 98.71 |
| Net Income From Continuing And Discontinued Operation | - | 144.62 | 118.46 | 109.32 | 93.12 |
| Net Income From Continuing Operation Net Minority Interest | - | 144.62 | 118.46 | 109.32 | 93.12 |
| Net Income | - | 144.62 | 118.46 | 109.32 | 93.12 |
| Net Income Common Stockholders | - | 144.62 | 118.46 | 109.32 | 93.12 |
| Net Income Including Noncontrolling Interests | - | 150.20 | 123.37 | 113.64 | 98.71 |
| Normalized Income | - | 142.99 | 121.63 | 118.89 | 103.09 |
| Diluted NI Availto Com Stockholders | - | 144.62 | 118.46 | 109.32 | 93.12 |
| Basic Average Shares | - | 83.25 | 80.80 | 79.39 | 77.26 |
| Diluted Average Shares | - | 83.94 | 81.40 | 79.96 | 77.89 |
| Reconciled Depreciation | - | 131.68 | 134.02 | 134.69 | 136.50 |
| Reconciled Cost Of Revenue | - | 1,245.79 | 1,310.34 | 1,296.68 | 1,243.07 |
| Total Unusual Items | - | 2.24 | -4.11 | -12.15 | -13.32 |
| Total Unusual Items Excluding Goodwill | - | 2.24 | -4.11 | -12.15 | -13.32 |
| Minority Interests | - | -5.58 | -4.91 | -4.32 | -5.58 |
| Special Income Charges | - | 2.24 | -4.11 | -12.15 | -13.32 |
| Gain On Sale Of Business | - | 1 | 0 | 0 | -1.51 |
| Impairment Of Capital Assets | 0 | 0 | - | - | - |
| Restructuring And Mergern Acquisition | - | -1.24 | 4.11 | 12.15 | 11.81 |
| Depreciation Amortization Depletion Income Statement | - | 12.99 | 12.62 | 11.56 | 10.79 |
| Depreciation And Amortization In Income Statement | - | 12.99 | 12.62 | 11.56 | 10.79 |
| Other Operating Expenses | - | 419.09 | 437.29 | 433.16 | 430.84 |
| Amortization | - | 12.99 | 12.62 | 11.56 | 10.79 |
| Amortization Of Intangibles Income Statement | - | 12.99 | 12.62 | 11.56 | 10.79 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Kennametal Inc.this co. | KMT | $2.5B | 26.92β premium | 1.95 | 7.3% | 10.26 |
| Hub Group, Inc. | HUBG | $2.7B | 25.63 | 1.62 | 6.3% | 9.06 |
| Werner Enterprises, Inc. | WERN | $2.6B | - | 1.90 | -1.1% | 10.78 |
| Trinity Industries, Inc. | TRN | $2.6B | 10.23 | 2.40 | 23.5% | 8.20 |
| DXP Enterprises, Inc. | DXPE | $2.5B | 28.20 |
| - |
| - |
| - |
| - |
| 5.02 |
| 17.8% |
| 14.18 |
| DNOW Inc. | DNOW | $2.5B | -27.69 | 1.10 | -4.0% | -99.50 |
| ABM Industries Incorporated | ABM | $2.3B | 14.37 | 1.31 | 9.1% | 9.26 |
| CoreCivic, Inc. | CXW | $2.3B | 19.57 | 1.62 | 8.3% | 10.14 |
| Pitney Bowes Inc. | PBI | $2.3B | 15.67 | -2.83 | -18.0% | 10.12 |
| Peer Median | - | 15.67 | 1.62 | 7.3% | 9.69 | |