KESKOB Stock Analysis: Kesko | HE
Grocery Stores | HE, Finland | Market Cap: 8.756m EUR | 12M Return: 22% | FI0009000202 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 7.80M
EPS Trend: -84.9%
Qual. Beats: 0
Rev. Trend: 90.7%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Kesko Oyj is a Finnish diversified retail company founded in 1940 and headquartered in Helsinki, operating across eight Nordic and Baltic countries: Finland, Sweden, Norway, Denmark, Estonia, Latvia, Lithuania, and Poland. The business is organized into three divisions: Grocery Trade, Building and Technical Trade, and Car Trade.
The Grocery Trade division is the core operation, running wholesale and B2B grocery distribution as well as retail store chains under the K-Citymarket, K-Supermarket, K-Market, and Kespro banners, plus online grocery services. As a Food Retail company in the Consumer Staples sector, this segment provides a relatively defensive revenue base, supported by essential demand and a high concentration among a few major grocery operators in the Nordic market.
The Building and Technical Trade division covers building materials, home improvement, and HEPAC and electrical products through the K-Rauta, K-Bygg, Byggmakker, Davidsen, and Onninen brands. The Car Trade division imports and retails Volkswagen Group passenger cars (Volkswagen, Audi, SEAT, CUPRA, Bentley, Porsche) and commercial vehicles under K-Auto, and additionally operates used car sales, leasing, repair and maintenance services, an EV charging network branded K-Lataus, and Intersport and Budget Sport sports retail chains.
- Grocery Trade defends market share against Lidl in Finland
- Building and Technical Trade revenue follows Nordic housing cycle
- Car Trade profitability depends on Volkswagen deliveries and EV mix
| Net Income: 418.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -3.21 > 1.0 |
| NWC/Revenue: -2.71% < 20% (prev -3.21%; Δ 0.51% < -1%) |
| CFO/TA 0.11 > 3% & CFO 1.02b > Net Income 418.0m |
| Net Debt (5.85b) to EBITDA (1.26b): 4.64 < 3 |
| Current Ratio: 0.90 > 1.5 & < 3 |
| Outstanding Shares: last quarter (398.2m) vs 12m ago 0.05% < -2% |
| Gross Margin: 5.63% > 18% (prev 14.54%; Δ -8.91% > 0.5%) |
| Asset Turnover: 139.2% > 50% (prev 135.5%; Δ 3.73% > 0%) |
| Interest Coverage Ratio: 4.58 > 6 (EBIT TTM 654.4m / Interest Expense TTM 143.0m) |
| A: -0.04 (Total Current Assets 3.24b - Total Current Liabilities 3.58b) / Total Assets 9.57b |
| B: 0.22 (Retained Earnings 2.07b / Total Assets 9.57b) |
| C: 0.07 (EBIT TTM 654.4m / Avg Total Assets 9.24b) |
| D: 0.38 (Book Value of Equity 2.65b / Total Liabilities 6.89b) |
| Altman-Z'' = 1.35 = BB |
| DSRI: 1.01 (Receivables 1.59b/1.47b, Revenue 12.9b/12.1b) |
| GMI: 2.58 (GM 14.54% / 5.63%) |
| AQI: 0.95 (AQ_t 0.15 / AQ_t-1 0.16) |
| SGI: 1.06 (Revenue 12.9b / 12.1b) |
| TATA: -0.06 (NI 418.0m - CFO 1.02b) / TA 9.57b) |
| Beneish M = -1.57 (Cap -4..+1) = CCC |
As of August 28, 2026, the stock is trading at EUR 22.16 with a total of 348,483 shares traded. Over the past week, the price has changed by +2.03%, over one month by +4.63%, over three months by +6.62% and over the past year by +22.02%.
Current recommended Stop Loss: 21.80 (which is 1.6% or 1.3 ATR below the current price).
Kesko has no consensus analysts rating.
P/E Trailing = 20.9333
P/E Forward = 12.285
P/S = 0.6805
P/B = 3.3066
P/EG = 6.2679
Revenue TTM = 12.9b EUR
EBIT TTM = 654.4m EUR
EBITDA TTM = 1.26b EUR
Long Term Debt = 1.24b EUR (from longTermDebt, last quarter)
Short Term Debt = 868.8m EUR (from shortTermDebt, last quarter)
Debt = 6.23b EUR (from shortLongTermDebtTotal, last quarter) + Leases 2.23b
Net Debt = 5.85b EUR (calculated: Debt 6.23b - CCE 376.3m)
Enterprise Value = 14.6b EUR (8.76b + Debt 6.23b - CCE 376.3m)
Interest Coverage Ratio = 4.58 (Ebit TTM 654.4m / Interest Expense TTM 143.0m)
EV/FCF = 27.35x (Enterprise Value 14.6b / FCF TTM 534.0m)
FCF Yield = 3.66% (FCF TTM 534.0m / Enterprise Value 14.6b)
FCF Margin = 4.15% (FCF TTM 534.0m / Revenue TTM 12.9b)
Net Margin = 3.25% (Net Income TTM 418.0m / Revenue TTM 12.9b)
Gross Margin = 5.63% ((Revenue TTM 12.9b - Cost of Revenue TTM 12.1b) / Revenue TTM)
Gross Margin QoQ = 2.89% (prev 1.24%)
Tobins Q-Ratio = 1.53 (Enterprise Value 14.6b / Total Assets 9.57b)
Interest Expense / Debt = 2.30% (Interest Expense 143.0m / Debt 6.23b)
Taxrate = 20.69% (109.4m / 528.8m)
NOPAT = 519.0m (EBIT 654.4m * (1 - 20.69%))
Current Ratio = 0.90 (Total Current Assets 3.24b / Total Current Liabilities 3.58b)
Debt / Equity = 2.35 (Debt 6.23b / totalStockholderEquity, last quarter 2.65b)
Debt / EBITDA = 4.64 (Net Debt 5.85b / EBITDA 1.26b)
Debt / FCF = 10.96 (Net Debt 5.85b / FCF TTM 534.0m)
Total Stockholder Equity = 2.66b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.52% (Net Income 418.0m / Total Assets 9.57b)
RoE = 15.71% (Net Income TTM 418.0m / Total Stockholder Equity 2.66b)
RoCE = 16.77% (EBIT 654.4m / Capital Employed (Equity 2.66b + L.T.Debt 1.24b))
RoIC = 8.02% (NOPAT 519.0m / Invested Capital 6.47b)
WACC = 3.77% (E(8.76b)/V(15.0b) * Re(5.15%) + D(6.23b)/V(15.0b) * Rd(2.30%) * (1-Tc(0.21)))
Discount Rate = 5.15% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -45.50 | Cagr: -0.49%
[DCF] Terminal Value 73.10% ; FCFF base≈634.0m ; Y1≈556.0m ; Y5≈449.2m
[DCF] Fair Price = 5.01 (EV 7.21b - Net Debt 5.85b = Equity 1.36b / Shares 271.4m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -84.87 | EPS CAGR: -7.15% | SUE: 0.0 | # QB: 0
Revenue Correlation: 90.73 | Revenue CAGR: 3.29% | SUE: 1.24 | # QB: 1
EPS current Quarter (2026-09-30): EPS=0.39 | Chg30d=+0.52% | Revisions=+25% | Analysts=5
EPS current Year (2026-12-31): EPS=1.17 | Chg30d=+0.85% | Revisions=+29% | GrowthEPS=+9.7% | GrowthRev=+3.0%
EPS next Year (2027-12-31): EPS=1.30 | Chg30d=+0.07% | Revisions=+0% | GrowthEPS=+11.0% | GrowthRev=+4.0%
[Analyst] Revisions Ratio: +25% (up=6, down=3)