Kardex Holding AG/Fr. KARN
1D1W1MYTD1Y5YMAX
Capital at risk
About Kardex Holding AG
Kardex Holding AG is a Swiss-based company specializing in intralogistics solutions. The company operates primarily through two divisions: Kardex Remstar and Kardex Mlog. Kardex Remstar provides automated storage and retrieval systems, enhancing warehouse efficiency and inventory management. Kardex Mlog focuses on integrated materials handling systems and services, including conveyor systems and storage solutions. Founded in 1973 and headquartered in Zurich, Switzerland, Kardex serves a diverse range of industries, including automotive, electronics, and healthcare. The company's strategic emphasis on innovation in automated solutions positions it to address the growing demand for efficient supply chain operations.
- Ticker
- Fr. KARN
- Sector
- Industrials
- Primary listing
- XSWX
- Employees
- 3,037
- Headquarters
- Zurich, Switzerland
- Website
- www.kardex.com
KARN Metrics
BasicAdvanced
CHF 1.8B
69.67
CHF 3.39
1.37
CHF 6.00
2.54%
Price and volume
Market cap
CHF 1.8B
Beta
1.37
52-week high
CHF 315.50
52-week low
CHF 202.00
Average daily volume
13K
Dividend rate
CHF 6.00
Financial strength
Current ratio
1.525
Quick ratio
1.266
Total debt to equity
0.009
Dividend payout ratio (TTM)
179.64%
Profitability
EBITDA (TTM)
120.59
Gross margin (TTM)
31.94%
Net profit margin (TTM)
3.20%
Operating margin (TTM)
9.41%
Effective tax rate (TTM)
43.09%
Revenue per employee (TTM)
CHF 270,670
Management effectiveness
Return on assets (TTM)
10.20%
Return on equity (TTM)
11.01%
Valuation
Price to earnings (TTM)
69.669
Price to revenue (TTM)
2.229
Price to book
7.46
Price to tangible book (TTM)
8.4
Price to free cash flow (TTM)
110.835
Free cash flow yield (TTM)
0.90%
Free cash flow per share (TTM)
2.129
Dividend yield (TTM)
2.54%
Forward dividend yield
2.54%
Growth
Revenue change (TTM)
4.54%
Earnings per share change (TTM)
-64.38%
3-year revenue growth (CAGR)
10.85%
10-year revenue growth (CAGR)
9.80%
3-year earnings per share growth (CAGR)
-19.66%
10-year earnings per share growth (CAGR)
-0.40%
3-year dividend per share growth (CAGR)
22.08%
10-year dividend per share growth (CAGR)
8.85%
Bulls say / Bears say
Demand indicators are strong: H1 bookings rose 25.8% to a record €571.5 million and the order backlog grew 41.8% to €727.2 million. This gives Kardex substantial revenue visibility and supports its 15–20% full-year growth guidance. (EQS News, VZ VermögensZentrum)
The medium-term recovery case remains credible if current investments pay off: UBS kept a Buy rating, raised its sales-growth forecasts for 2026–28 and expects margins to recover after 2026. Kardex still targets €1.5 billion of revenue and a 10–14% EBIT margin in 2029–31. (MarketScreener, EQS News)
Profitability has weakened sharply: H1 EBIT fell 38.4% and net profit fell 38.2%. Kardex cut its 2026 EBIT-margin guidance to 8–10%, below its 10–14% medium-term target. (EQS News, MarketScreener)
The higher-margin Automated Products division is under pressure, with H1 revenue down 11.1% and EBIT down 41.7%. Underused production capacity, higher ERP costs and continued investment spending could delay the expected recovery. (VZ VermögensZentrum, EQS News)
Valuation still leaves little room for disappointment: the reported P/E of 70.5 times was far above European machinery and peer averages. The investment case therefore depends heavily on backlog execution and a sustained margin recovery. (Simply Wall St)
Data summarised monthly by Lightyear AI. Last updated on 19 Sept 2026.
Upcoming events
No upcoming events
Funds containing KARN
AllUSDEURGBP
Fund name | Fund size | Fr. KARN weighting |
|---|---|---|
iShares Automation & Robotics$RBOT | $5.2B | 0.09% |
iShares Automation & Robotics€2B76 | €4.5B | 0.09% |
iShares Automation & Robotics£RBTX | £3.8B | 0.09% |
iShares MSCI World Small Cap$WSML | $9B | 0.02% |
iShares MSCI World Small Cap€IUSN | €7.8B | 0.02% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by CBOE Europe and Deutsche Börse.