Kadant is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries.

While Kadant is a relatively new name, and became a fully independent public company in 2001, some of our businesses have been serving industrial customers for more than 100 years. Through a combination of acquisitions and internal development, we continue to strengthen our position as a leading supplier to process industries worldwide.

Kadant Inc. is based in Westford, Massachusetts, USA with revenues of $390 million in 2015 and 1,800 employees worldwide. Our stock trades on the New York Stock Exchange under the symbol KAI. Kadant brand products and services are sold to industries worldwide through our subsidiaries located in North America, South America, Europe, and Asia.

Kadant was founded in 1991 and is headquartered in Westford, US

Kadant has an office in Westford

Westford, US (HQ)

1 Technology Park Dr

Kadant's revenue was reported to be $102.9 m in Q1, 2017

USD

## Revenue (Q1, 2017) | 102.9 m |

## Gross profit (Q1, 2017) | 49 m |

## Gross profit margin (Q1, 2017), % | 48% |

## Net income (Q1, 2017) | 9.1 m |

## EBIT (Q1, 2017) | 12 m |

## Market capitalization (21-Jul-2017) | 882.4 m |

## Cash (01-Apr-2017) | 71.5 m |

Kadant's current market capitalization is $882.4 m.

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Revenue | 344.5 m | 402.1 m | 390.1 m | 414.1 m |

## Revenue growth, % | 17% | (3%) | 6% | |

## Cost of goods sold | 186.8 m | 223.8 m | 210 m | 225.7 m |

## Gross profit | 157.7 m | 178.4 m | 180.1 m | 188.4 m |

## Gross profit Margin, % | 46% | 44% | 46% | 45% |

## Operating expense total | 124.4 m | 136.3 m | 130 m | 368.6 m |

## EBIT | 33.3 m | 42.1 m | 50.1 m | 45.6 m |

## EBIT margin, % | 10% | 10% | 13% | 11% |

## Interest expense | 900 k | 966 k | 948 k | 1.3 m |

## Interest income | 623 k | 398 k | 200 k | 269 k |

## Income tax expense | 9.3 m | 12.4 m | 14.8 m | 12.1 m |

## Net Income | 23.6 m | 29 m | 34.7 m | 32.5 m |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 104.8 m | 98.7 m | 92.3 m | 98.3 m | 91.9 m | 96.5 m | 111.8 m | 105.5 m | 102.9 m |

## Cost of goods sold | 59.8 m | 54.6 m | 47.9 m | 52.6 m | 48.3 m | 52.6 m | 61.6 m | 57.4 m | 53.9 m |

## Gross profit | 45.1 m | 44.1 m | 44.3 m | 45.7 m | 43.7 m | 44 m | 50.3 m | 48.1 m | 49 m |

## Gross profit Margin, % | 43% | 45% | 48% | 47% | 48% | 46% | 45% | 46% | 48% |

## R&D expense | 1.4 m | 1.6 m | 1.7 m | 1.8 m | 1.8 m | 1.7 m | 1.9 m | 2 m | 2.1 m |

## General and administrative expense | 31.6 m | 31.9 m | 32.2 m | 31.1 m | 29.2 m | 32.5 m | 36.1 m | 33.5 m | 34.8 m |

## Operating expense total | 33 m | 33.4 m | 33.9 m | 32.9 m | 31 m | 34.2 m | 38 m | 35.5 m | 36.9 m |

## EBIT | 12 m | 10.2 m | 10.4 m | 12.6 m | 12.7 m | 10.1 m | 12.2 m | 12.6 m | 12 m |

## EBIT margin, % | 11% | 10% | 11% | 13% | 14% | 10% | 11% | 12% | 12% |

## Interest expense | (250 k) | (210 k) | (231 k) | (231 k) | (239 k) | (269 k) | (340 k) | (305 k) | (348 k) |

## Interest income | 82 k | 42 k | 53 k | 43 k | 54 k | 55 k | 66 k | 54 k | 104 k |

## Pre tax profit | 11.8 m | ||||||||

## Income tax expense | 3.9 m | 3.2 m | 3.3 m | 3.9 m | 3.8 m | 2.9 m | 3.5 m | 3.1 m | 2.7 m |

## Net Income | 8 m | 6.7 m | 7 m | 8.5 m | 8.7 m | 7 m | 8.4 m | 9.2 m | 9.1 m |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Cash | 50 m | 45.4 m | 65.5 m | 71.5 m |

## Inventories | 62.8 m | 55.2 m | 56.8 m | 55 m |

## Current Assets | 206.3 m | 183.7 m | 205.1 m | 207.4 m |

## Goodwill | 131.9 m | 127.9 m | 119.1 m | 151.5 m |

## Total Assets | 442.2 m | 413.7 m | 415.5 m | 470.7 m |

## Accounts Payable | 28.4 m | 27.2 m | 24.4 m | 23.9 m |

## Current Liabilities | 99.8 m | 87.2 m | 96.6 m | 88.9 m |

## Additional Paid-in Capital | 96.8 m | 98.8 m | 100.5 m | 101.4 m |

## Retained Earnings | 248.2 m | 270.2 m | 297.3 m | 321.1 m |

## Total Equity | 270.4 m | 265.5 m | 267.9 m | 284.3 m |

## Financial Leverage | 1.6 x | 1.6 x | 1.6 x | 1.7 x |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 37.5 m | 41.1 m | 42.8 m | 47.4 m | 56.1 m | 104.5 m | 54.2 m | 63.2 m | 71.5 m |

## Inventories | 60.1 m | 57.7 m | 60.6 m | 64.2 m | 67.5 m | 58.7 m | 63.5 m | 58.7 m | 59.8 m |

## Current Assets | 188.4 m | 191.1 m | 188.1 m | 197.6 m | 210.3 m | 244.6 m | 201.5 m | 205.9 m | 222.1 m |

## Goodwill | 134.1 m | 129.9 m | 121.5 m | 122.8 m | 121 m | 121.7 m | 157.5 m | 157.7 m | 153.8 m |

## Total Assets | 423.5 m | 418.3 m | 407.1 m | 415.8 m | 422.9 m | 457.6 m | 480.8 m | 484.1 m | 488.8 m |

## Accounts Payable | 29.3 m | 27.9 m | 26.5 m | 28.5 m | 27.2 m | 23.8 m | 30.8 m | 25.2 m | 25.2 m |

## Current Liabilities | 91.1 m | 95.4 m | 83.9 m | 92.4 m | 102 m | 84.2 m | 97.9 m | 91.5 m | 90.6 m |

## Additional Paid-in Capital | 96 m | 97.2 m | 96.5 m | 98.1 m | 99.3 m | 97.9 m | 99 m | 100.2 m | 99 m |

## Retained Earnings | 257.8 m | 262.8 m | 275.3 m | 281.9 m | 288.7 m | 302.1 m | 308.3 m | 315.4 m | 327.7 m |

## Total Equity | 271.1 m | 268.2 m | 258.3 m | 265.7 m | 262.9 m | 277.6 m | 281.2 m | 289.2 m | 295.3 m |

## Financial Leverage | 1.6 x | 1.6 x | 1.6 x | 1.6 x | 1.6 x | 1.6 x | 1.7 x | 1.7 x | 1.7 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | 23.6 m | 29 m | 34.7 m | 32.5 m |

## Depreciation and Amortization | 9.8 m | 11.2 m | 10.8 m | 14.3 m |

## Accounts Receivable | (2.2 m) | 8.4 m | (11 m) | 1 m |

## Inventories | (2 m) | 5.1 m | (6.5 m) | 3.6 m |

## Accounts Payable | 2.6 m | 652 k | (1.8 m) | (5.2 m) |

## Cash From Operating Activities | 40.1 m | 48.9 m | 37.9 m | 51 m |

## Purchases of PP&E | (6.3 m) | (6.8 m) | (5.5 m) | (5.8 m) |

## Dividends Paid | (4.2 m) | (6.3 m) | (7.2 m) | (8 m) |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 8 m | 6.7 m | 7 m | 8.5 m | 8.7 m | 7 m | 8.4 m | 9.2 m | 9.1 m |

## Inventories | 60.1 m | 57.7 m | 60.6 m | 64.2 m | 67.5 m | 58.7 m | 63.5 m | 58.7 m | 59.8 m |

## Accounts Payable | 29.3 m | 27.9 m | 26.5 m | 28.5 m | 27.2 m | 23.8 m | 30.8 m | 25.2 m | 25.2 m |

Y, 2017 | |
---|---|

## Financial Leverage | 1.7 x |