A Business at a Glance
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KERNEL operates in the Food Distribution industry, Consumer Defensive sector. Full business description from SEC filing not yet available.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | 3.6B | 3.6B | 3.5B | 5.3B | 5.6B |
| Net Income | 168M | 168M | 299M | -41M | 513M |
| EPS | $0.65 | $0.65 | $3.86 | $-0.51 | $6.10 |
| Free Cash Flow | 330M | 330M | 639M | -425M | 282M |
| ROIC | 20.8% | 18.6% | 26.2% | 4.4% | 32.2% |
| Gross Margin | 19.0% | 19.0% | 18.4% | 12.2% | 16.2% |
| Debt/Equity | 0.00 | 0.09 | 0.14 | 0.15 | 0.12 |
| Dividends/Share | $0.00 | - | - | $0.43 | $0.42 |
| Operating Income | 276M | 276M | 439M | 91M | 689M |
| Operating Margin | 7.7% | 7.7% | 12.7% | 1.7% | 12.3% |
| ROE | 9.0% | 9.3% | 17.5% | -2.2% | 26.3% |
| Shares Outstanding | 258M | 258M | 78M | 80M | 84M |
| Metric | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | 5.6B | 5.3B | 3.5B | 3.6B | 3.6B |
| Gross Margin | 16.2% | 12.2% | 18.4% | 19.0% | 19.0% |
| R&D | N/A | N/A | N/A | N/A | N/A |
| SG&A | -318M | -230M | -205M | -213M | -213M |
| EBIT | 689M | 91M | 439M | 276M | 276M |
| Op. Margin | 12.3% | 1.7% | 12.7% | 7.7% | 7.7% |
| Net Income | 513M | -41M | 299M | 168M | 168M |
| Net Margin | 9.2% | -0.8% | 8.7% | 4.7% | 4.7% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||
| ROIC | 32.2% | 4.4% | 26.2% | 18.6% | 20.8% |
| ROE | 26.3% | -2.2% | 17.5% | 9.3% | 9.0% |
| ROA | 12.8% | -1.0% | 7.4% | 4.6% | 4.9% |
| Cash Flow | |||||
| Op. Cash Flow | 460M | -305M | 716M | 472M | 472M |
| Free Cash Flow | 282M | -425M | 639M | 330M | 330M |
| Owner Earnings | 343M | -435M | 611M | 367M | 367M |
| CapEx | 178M | 120M | 77M | 143M | 143M |
| Maint. CapEx | 116M | 130M | 105M | 105M | 105M |
| Growth CapEx | 62M | 0 | 0 | 38M | 38M |
| D&A | 116M | 130M | 105M | 105M | 105M |
| CapEx/OCF | 38.8% | N/A | 10.8% | 30.2% | 30.2% |
| Capital Allocation | |||||
| Dividends Paid | 35M | 34M | 0 | 0 | 0 |
| Dividend Yield | 0.7% | 1.5% | N/A | N/A | N/A |
| Share Buybacks | 0 | 97M | 0 | 0 | 0 |
| Buyback Yield | 0.0% | 6.9% | 0.0% | 0.0% | 0.0% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 257M | 230M | 248M | 790M | 790M |
| Balance Sheet | |||||
| Net Debt | -332M | -186M | -712M | -646M | -810M |
| Cash & Equiv. | 574M | 448M | 954M | 810M | 810M |
| Long-Term Debt | 228M | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.12 | 0.15 | 0.14 | 0.09 | 0.00 |
| Interest Coverage | 4.7 | 0.7 | 2.9 | 2.3 | 2.3 |
| Equity | 1.9B | 1.7B | 1.7B | 1.9B | 1.9B |
| Total Assets | 4.0B | 4.2B | 3.9B | 3.4B | 3.4B |
| Total Liabilities | 2.1B | 2.5B | 2.1B | 1.5B | 1.5B |
| Intangibles | 62M | N/A | 36M | 36M | 36M |
| Retained Earnings | 2.0B | 1.9B | 2.1B | 2.3B | 2.3B |
| Working Capital | 1.4B | 285M | 543M | 788M | 788M |
| Current Assets | 2.3B | 2.5B | 2.4B | 2.2B | 2.2B |
| Current Liabilities | 917M | 2.2B | 1.9B | 1.4B | 1.4B |
| Per Share Data | |||||
| EPS | 6.10 | -0.51 | 3.86 | 0.65 | 0.65 |
| Owner EPS | 4.09 | -5.45 | 7.89 | 1.42 | 1.42 |
| Book Value | 23.15 | 21.13 | 22.47 | 7.22 | 7.22 |
| Cash Flow/Share | 5.47 | -3.83 | 9.24 | 1.83 | 1.06 |
| Dividends/Share | 0.42 | 0.43 | N/A | N/A | 0.00 |
| Shares Out. | 84.1M | 79.8M | 77.5M | 258.4M | 258.4M |
| Valuation | |||||
| P/E Ratio | 9.2 | -34.3 | 2.4 | 20.0 | 30.3 |
| P/FCF | 16.8 | N/A | 1.1 | 10.2 | 15.4 |
| EV/EBIT | 6.4 | 13.3 | -0.0 | 9.8 | 15.5 |
| Price/Book | 2.4 | 0.8 | 0.4 | 1.8 | 2.7 |
| Price/Sales | 0.8 | 0.3 | 0.2 | 0.9 | 1.4 |
| FCF Yield | 5.9% | -30.4% | 90.1% | 9.8% | 6.5% |
| Market Cap | 4.7B | 1.4B | 709M | 3.4B | 5.1B |
| Avg. Price | 56.17 | 28.28 | 13.63 | 11.74 | 19.68 |
| Year-End Price | 56.40 | 17.50 | 9.15 | 13.00 | 19.68 |
KERNEL passes 3 of 9 quality checks, indicating weak fundamentals.
KERNEL trades at 30.3x trailing earnings, compared to its 15-year median P/E of 9.2x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 15.4x vs a median of 10.2x. The company's 5-year average ROIC is 20.4% with a gross margin of 16.5%. At current prices, the estimated annualized return to fair value is -6.6%.
KERNEL (KER-WA) has a current P/E ratio of 30.3, compared to its historical median P/E of 9.2. The stock is currently considered Expensive based on its historical valuation range.
KERNEL (KER-WA) has a 5-year average return on invested capital (ROIC) of 20.4%. This indicates strong capital allocation and a potential competitive advantage.
KERNEL (KER-WA) has a market capitalization of $5.1B. It is classified as a mid-cap stock.
KERNEL (KER-WA) does not currently pay a regular dividend.
Based on historical P/E analysis, KERNEL (KER-WA) appears expensive. The current P/E of 30.3 is 227% above its historical median of 9.2. The estimated fair value CAGR (P/E method) is -27.0%.
KERNEL (KER-WA) operates in the Food Distribution industry, within the Consumer Defensive sector.
KERNEL (KER-WA) reported annual revenue of $3.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
KERNEL (KER-WA) has a net profit margin of 4.7%. This is a modest margin.
KERNEL (KER-WA) generated $330 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
KERNEL (KER-WA) has a debt-to-equity ratio of 0.09. This indicates a conservatively financed balance sheet.
KERNEL (KER-WA) reported earnings per share (EPS) of $0.65 in its most recent fiscal year.
KERNEL (KER-WA) has a return on equity (ROE) of 9.3%. This indicates moderate shareholder returns.
KERNEL (KER-WA) has a 5-year average gross margin of 16.5%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 4 years of financial data for KERNEL (KER-WA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
KERNEL (KER-WA) has a book value per share of $7.22, based on its most recent annual SEC filing.
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