KADANT INC

Listed Company

KAICIK 0000886346NYSELarge AcceleratedSpecial Industry Machinery (No Metalworking Machinery)DelawareFY ends Jan 2

Period

FY 2025

Revenue

$1.05B

Net Income

$101.97M

Total Assets

$1.71B

Equity

$979.81M

Shares Out

11.79M

Op. Cash Flow

$171.33M

Business

KADANT INC is a global supplier of technologies and engineered systems that drive Sustainable Industrial Processing, providing products and services to improve efficiency, energy utilization, and yield in process industries. The company offers engineered equipment and consumables such as fluid-handling systems, rotary joints, syphons, doctoring, cleaning, and filtration systems, wood-processing and fiber-processing machinery, conveying and vibratory equipment, balers, and fiber-based granules. Kadant reports results in three segments: Flow Control, Industrial Processing, and Material Handling. It sells worldwide to paper, packaging, tissue, wood products, mining, metals, food, recycling and other industrial customers via direct sales, agents, and distributors in North America, Europe, Asia, and Canada.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue (Notes 1 and 11)	1,052	1,053	958	905	787
Cost of revenue	577	587	541	515	449
Selling, general, and administrative expenses	302	280	236	224	209
Research and development expenses	15	14	14	13	11
Other costs, net (Note 8)	1	658,000	723,000	—	—
Total Costs and Operating Expenses	895	882	792	733	670
Operating Income	157	171	166	171	117
Interest Income	2	2	2	904,000	267,000
Interest Expense	−16	−20	−8	−6	—
Other Expense, Net	−61,000	−69,000	−101,000	−72,000	−104,000
Income Before Provision for Income Taxes	144	153	159	166	112
Provision for Income Taxes (Note 5)	40	41	42	44	27
Net Income	104	113	117	122	85
Net Income Attributable to Noncontrolling Interests	−2	−956,000	−737,000	−802,000	−838,000
Net income attributable to Kadant	102	112	116	121	84
Basic (in dollars per share)	8.66	9.51	9.92	10.38	7.26
Diluted (in dollars per share)	8.65	9.48	9.9	10.35	7.21
Basic (in shares)	12	12	12	12	12
Diluted (in shares)	12	12	12	12	12

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	120	95	104	76	91
Restricted cash	3	1	3	3	3
Accounts receivable, net of allowances of $5,149 and $4,403	159	142	134	130	117
Inventories	207	146	153	164	134
Contract assets	7	18	8	15	9
Other current assets	47	39	39	27	30
Total Current Assets	542	442	440	415	384
Property, Plant, and Equipment, Net	197	170	141	119	108
Other Assets	68	59	44	55	44
Intangible Assets, Net (Notes 1 and 2)	350	279	159	176	199
Goodwill (Notes 1 and 2)	556	479	392	385	397
Total Assets	1,712	1,430	1,176	1,150	1,132
Current maturities of long-term obligations (Note 6)	3	3	3	4	5
Accounts payable	53	51	42	58	59
Accrued payroll and employee benefits	47	44	42	36	37
Accrued warranty and installation costs	12	11	8	—	—
Customer deposits	57	36	63	64	59
Advanced billings	10	8	12	8	12
Other current liabilities	46	39	44	44	49
Total Current Liabilities	228	192	214	213	221
Long-Term Obligations (Note 6)	371	285	108	197	264
Deferred Income Taxes (Note 5)	62	42	36	39	35
Other Long-Term Liabilities	59	54	41	45	46
Commitments and Contingencies (Note 7)	—	—	—	—	—
Preferred stock, $.01 par value, 5,000,000 shares authorized; none issued	0	0	0	0	0
Common stock, $.01 par value, 150,000,000 shares authorized; 14,624,159 shares issued	146,000	146,000	146,000	146,000	146,000
Capital in excess of par value	139	130	125	120	116
Retained earnings	946	860	763	661	552
Treasury stock at cost, 2,835,165 and 2,878,080 shares	−69	−71	−71	−72	−74
Accumulated other comprehensive items (Note 13)	−35	−72	−43	−55	−30
Total Kadant Stockholders' Equity	980	847	774	654	564
Noncontrolling interests	11	11	3	2	2
Total Stockholders' Equity	991	858	776	656	566
Total Liabilities and Stockholders' Equity	1,712	1,430	1,176	1,150	1,132

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	51	50	33	35	34
Stock-based compensation expense	11	11	10	9	9
Provision for losses on accounts receivable	737,000	721,000	531,000	1	5,000
Other income (Note 8)	0	0	−841,000	−20	−515,000
Other non-cash costs (Note 8)	287,000	658,000	36,000	731,000	804,000
Deferred income tax provision (benefit)	2	1	−2	7	−1
Other items, net	8	7	5	7	6
Accounts receivable	14	−3	−2	−19	−17
Contract assets	12	−7	6	−7	−1
Inventories	−13	24	14	−36	−11
Other assets	2	−1	4	−2	−6
Accounts payable	−7	11	−20	1	26
Customer deposits	9	−30	−9	14	28
Other liabilities	−23	−21	9	−11	10
Net cash provided by operating activities	171	155	166	103	162
Acquisitions, net of cash acquired (Note 2)	−190	−300	−905,000	−3	−144
Purchases of property, plant, and equipment	−17	−21	−32	−28	−13
Proceeds from sale of property, plant, and equipment	250,000	1	2	2	2
Other investing activities	1	914,000	328,000	42,000	537,000
Net cash used in investing activities	−205	−319	−31	−30	−154
Proceeds from issuance of long-term obligations (Note 6)	199	305	0	22	152
Repayment of short- and long-term obligations	−123	−124	−94	−86	−116
Dividends paid	−16	−15	−13	−12	−11
Proceeds from issuance of Company common stock	5	2	0	1	2
Tax withholding payments related to stock-based compensation	−6	−6	−4	−5	−3
Dividends paid to noncontrolling interests	−2	−1	0	−630,000	−560,000
Acquisition of subsidiary shares from noncontrolling interest (Note 2)	0	−523,000	0	0	—
Payment of debt issuance costs	−3	0	−8,000	−1	0
Net cash provided by (used in) financing activities	54	160	−111	−81	23
Exchange Rate Effect on Cash, Cash Equivalents, and Restricted Cash	7	−7	3	−7	−3
Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash	27	−11	27	−14	28

Filings

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