Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Kesko Oyj is a Finnish trading sector leader operating in grocery trade, building and technical trade, and car trade. As a retail conglomerate, it manages around 1,800 stores across Finland, Sweden, Norway, Denmark, Estonia, Latvia, Lithuania, and Poland, combining an extensive physical network with online sales and digital services for seamless customer experiences. Together with K-retailers, Kesko Oyj forms the K Group, Finland's largest trading operator and one of Northern Europe's biggest, with 2024 retail sales totaling approximately €16 billion and employing about 45,000 people including its Kesko Senukai joint venture in the Baltics. The company emphasizes sustainability as a competitive edge, focusing on climate and nature, value chain impacts, employee well-being, and strong governance to enable eco-friendly customer choices throughout production to consumption. Founded in 1940 from a merger of regional wholesaling firms, Kesko Oyj drives profitable growth in its core areas while fostering close partnerships with retailer entrepreneurs and suppliers, solidifying its role as a prominent force in Northern European retail.
€19.45
+€0.11 (+0.57%)
EOD Jul 2, 2026
Operating margin is thin at 4.43%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 4.7%, steady but not accelerating. Free cash flow declined 27% despite revenue growth, conversion is weakening.
Free cash flow declined 27% versus the prior year, cash generation momentum has weakened. Net debt of €3.41B represents 9.0x FCF, leverage limits flexibility.
18.9x earnings, 16.1x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
€12.68B
▲ +4.7% YoY
Net Income (TTM)
€408M
▲ +6.6% YoY
Op. Margin
4.42%
▲ +0.3pp YoY
ROIC
7.00%
▲ +0.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€480M
▼ -27.0% YoY
Op. Cash Flow (TTM)
€495M
▼ -37.0% YoY
Net Debt
€3.41B
Cash & Equiv.
€166M
3Y CAGR: +1.8%
3Y CAGR: -12.5%
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At a P/E of 18.9 and a price-to-free-cash-flow of 16.1, Kesko Oyj (KESKOA.XHEL) trades above a two-stage DCF intrinsic value of about €12.32 per share, so at €19.45 the stock looks overvalued (36.7% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Kesko Oyj scores 32/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 4.6%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about €12.32 per share for KESKOA.XHEL, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around €9.24. At today's €19.45, that puts the stock about 36.7% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Kesko Oyj scores 32 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a 4.4% operating margin and a 7.0% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Kesko Oyj pays a regular dividend of about €0.90 per share per year (typically in quarterly installments), a yield of roughly 4.6% at the current price. That is a payout ratio of about 87.9% of earnings, so the dividend is stretched at this level. Kesko Oyj has grown the dividend at roughly 5.6% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For KESKOA.XHEL's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. KESKOA.XHEL currently trades above its estimated intrinsic value and scores 32/100 on quality (lower-quality). It also yields about 4.6%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.