KESKOB Stock Analysis: Kesko | HE
Grocery Stores | HE, Finland | Market Cap: 7.780m EUR | 12M Return: -1.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 13.0M
EPS Trend: -91.5%
Qual. Beats: 0
Rev. Trend: 81.5%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 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: 406.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -1.02 > 1.0 |
| NWC/Revenue: -3.57% < 20% (prev -3.67%; Δ 0.11% < -1%) |
| CFO/TA 0.11 > 3% & CFO 981.7m > Net Income 406.9m |
| Net Debt (5.92b) to EBITDA (1.25b): 4.73 < 3 |
| Current Ratio: 0.87 > 1.5 & < 3 |
| Outstanding Shares: last quarter (398.2m) vs 12m ago 0.04% < -2% |
| Gross Margin: 8.60% > 18% (prev 11.42%; Δ -2.82% > 0.5%) |
| Asset Turnover: 141.9% > 50% (prev 138.8%; Δ 3.09% > 0%) |
| Interest Coverage Ratio: 4.61 > 6 (EBIT TTM 648.1m / Interest Expense TTM 140.5m) |
| A: -0.05 (Total Current Assets 2.97b - Total Current Liabilities 3.42b) / Total Assets 9.23b |
| B: 0.21 (Retained Earnings 1.93b / Total Assets 9.23b) |
| C: 0.07 (EBIT TTM 648.1m / Avg Total Assets 8.93b) |
| D: 0.38 (Book Value of Equity 2.51b / Total Liabilities 6.69b) |
| Altman-Z'' = 1.24 = BB |
| DSRI: 1.05 (Receivables 1.51b/1.36b, Revenue 12.7b/12.0b) |
| GMI: 1.33 (GM 11.42% / 8.60%) |
| AQI: 0.97 (AQ_t 0.16 / AQ_t-1 0.16) |
| SGI: 1.06 (Revenue 12.7b / 12.0b) |
| TATA: -0.06 (NI 406.9m - CFO 981.7m) / TA 9.23b) |
| Beneish M = -2.67 (Cap -4..+1) = A |
As of July 14, 2026, the stock is trading at EUR 19.64 with a total of 591,786 shares traded. Over the past week, the price has changed by +2.29%, over one month by -1.06%, over three months by -1.26% and over the past year by -1.55%.
Current recommended Stop Loss: 18.80 (which is 4.3% or 2.3 ATR below the current price).
Kesko has no consensus analysts rating.
P/E Trailing = 18.9612
P/E Forward = 12.285
P/S = 0.6137
P/B = 3.0915
P/EG = 6.2679
Revenue TTM = 12.7b EUR
EBIT TTM = 648.1m EUR
EBITDA TTM = 1.25b EUR
Long Term Debt = 1.24b EUR (from longTermDebt, last quarter)
Short Term Debt = 777.0m EUR (from shortTermDebt, last quarter)
Debt = 6.09b EUR (from shortLongTermDebtTotal, last quarter) + Leases 2.21b
Net Debt = 5.92b EUR (calculated: Debt 6.09b - CCE 169.3m)
Enterprise Value = 13.7b EUR (7.78b + Debt 6.09b - CCE 169.3m)
Interest Coverage Ratio = 4.61 (Ebit TTM 648.1m / Interest Expense TTM 140.5m)
EV/FCF = 22.86x (Enterprise Value 13.7b / FCF TTM 599.1m)
FCF Yield = 4.37% (FCF TTM 599.1m / Enterprise Value 13.7b)
FCF Margin = 4.73% (FCF TTM 599.1m / Revenue TTM 12.7b)
Net Margin = 3.21% (Net Income TTM 406.9m / Revenue TTM 12.7b)
Gross Margin = 8.60% ((Revenue TTM 12.7b - Cost of Revenue TTM 11.6b) / Revenue TTM)
Gross Margin QoQ = 1.24% (prev 14.83%)
Tobins Q-Ratio = 1.48 (Enterprise Value 13.7b / Total Assets 9.23b)
Interest Expense / Debt = 2.31% (Interest Expense 140.5m / Debt 6.09b)
Taxrate = 20.70% (106.4m / 513.9m)
NOPAT = 513.9m (EBIT 648.1m * (1 - 20.70%))
Current Ratio = 0.87 (Total Current Assets 2.97b / Total Current Liabilities 3.42b)
Debt / Equity = 2.42 (Debt 6.09b / totalStockholderEquity, last quarter 2.51b)
Debt / EBITDA = 4.73 (Net Debt 5.92b / EBITDA 1.25b)
Debt / FCF = 9.88 (Net Debt 5.92b / FCF TTM 599.1m)
Total Stockholder Equity = 2.63b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.55% (Net Income 406.9m / Total Assets 9.23b)
RoE = 15.48% (Net Income TTM 406.9m / Total Stockholder Equity 2.63b)
RoCE = 16.77% (EBIT 648.1m / Capital Employed (Equity 2.63b + L.T.Debt 1.24b))
RoIC = 8.00% (NOPAT 513.9m / Invested Capital 6.42b)
WACC = 3.88% (E(7.78b)/V(13.9b) * Re(5.48%) + D(6.09b)/V(13.9b) * Rd(2.31%) * (1-Tc(0.21)))
Discount Rate = 5.48% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 64.44 | Cagr: 0.04%
[DCF] Terminal Value 74.33% ; FCFF base≈619.0m ; Y1≈581.6m ; Y5≈539.5m
[DCF] Fair Price = 9.58 (EV 8.52b - Net Debt 5.92b = Equity 2.60b / Shares 271.4m; r=8.35% [WACC [floored]]; 5y FCF grow -7.66% → 2.50% )
EPS Correlation: -91.47 | EPS CAGR: -9.79% | SUE: 0.0 | # QB: 0
Revenue Correlation: 81.54 | Revenue CAGR: 2.34% | SUE: 0.36 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.32 | Chg30d=+0.00% | Revisions=+0% | Analysts=5
EPS next Quarter (2026-09-30): EPS=0.38 | Chg30d=+0.18% | Revisions=+0% | Analysts=5
EPS current Year (2026-12-31): EPS=1.16 | Chg30d=+0.01% | Revisions=+25% | GrowthEPS=+8.7% | GrowthRev=+2.5%
EPS next Year (2027-12-31): EPS=1.30 | Chg30d=-0.01% | Revisions=-25% | GrowthEPS=+11.9% | GrowthRev=+3.8%
[Analyst] Revisions Ratio: +0% (up=1, down=1)