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KEQU

Kewaunee Scientific Corporation

KEQU

Kewaunee Scientific Corporation • NASDAQ
$37.22 ▼ -2.96% (-1.14)
Market Cap $106.65 M
52w High $71.33
52w Low $30.33
Dividend Yield 0%
P/E 9.01
Volume 2.34K
Outstanding Shares 2.87M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $71.104M ▼ $16.12M ▲ $3.093M ▼ 4.35% ▼ $1.08 ▼ $4.81M ▼
Q4-2025 $77.148M ▲ $15.538M ▼ $4.85M ▲ 6.287% ▲ $1.7 ▲ $9.887M ▲
Q3-2025 $67.167M ▲ $16.129M ▲ $1.354M ▼ 2.016% ▼ $0.47 ▼ $3.975M ▼
Q2-2025 $47.764M ▼ $9.518M ▼ $3.008M ▲ 6.298% ▲ $1.05 ▲ $5.179M ▲
Q1-2025 $48.393M $9.913M $2.193M 4.532% $0.77 $3.717M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $19.489M ▲ $193.486M ▼ $124.617M ▼ $68.869M ▲
Q4-2025 $14.942M ▲ $194.654M ▲ $128.409M ▲ $64.457M ▲
Q3-2025 $9.454M ▼ $189.148M ▲ $127.027M ▲ $60.801M ▲
Q2-2025 $25.963M ▲ $134.478M ▲ $73.821M ▼ $59.328M ▲
Q1-2025 $24.211M $132.018M $74.505M $56.023M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $3.159M ▼ $5.791M ▼ $-771K ▼ $-1.463M ▲ $3.277M ▼ $5.02M ▼
Q4-2025 $4.947M ▲ $9.407M ▲ $-516K ▲ $-4.338M ▼ $4.829M ▲ $8.891M ▲
Q3-2025 $1.383M ▼ $-2.266M ▼ $-29.424M ▼ $14.635M ▲ $-17.329M ▼ $-2.955M ▼
Q2-2025 $3.015M ▲ $8.436M ▲ $-683K ▼ $-3.229M ▼ $4.478M ▲ $7.753M ▲
Q1-2025 $2.238M $-794K $-278K $343K $-752K $-1.072M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Domestic Operations
Domestic Operations
 $40.00M ▲$50.00M ▲$60.00M ▲$50.00M ▼
International Operations
International Operations
 $10.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the last several years, moving from a small base to a clearly larger level today. Profitability has improved as well: gross margins have widened and operating income has turned consistently positive instead of hovering around breakeven. That said, net income has been uneven, with a swing from losses a few years ago to a very strong year and then some cooling off more recently. Earnings per share appear quite volatile, suggesting that one‑time items or unusual conditions may have played a role in recent peaks. Overall, the trend points to a healthier, more efficient business than a few years ago, but with earnings that can still be bumpy from year to year.

Balance Sheet

Balance Sheet The balance sheet shows a business that has grown in size, with total assets expanding over time and shareholders’ equity gradually building. Cash balances are modest and move around, so the company does not appear to be sitting on excess liquidity. Debt was very low for several years but has recently stepped up, likely to support growth or acquisitions, which increases financial obligations compared with the past. The capital structure is still equity‑heavy, but the recent rise in borrowing means interest costs and leverage need closer watching going forward.

Cash Flow

Cash Flow Cash generation has improved meaningfully. Operating cash flow has shifted from occasional shortfalls to a more consistently positive level in the last few years, broadly in line with the improvement in profits. Free cash flow follows a similar pattern, turning positive and staying there recently, helped by limited capital spending needs. Earlier periods with negative or flat free cash flow highlight that the business can become cash‑tight in weaker years, but the current picture is one of a company that is now able to fund itself from internal cash more reliably, as long as performance holds up.

Competitive Edge

Competitive Edge Kewaunee operates in a specialized niche: laboratory furniture and technical products. Its long history in the field and reputation for quality give it credibility with customers that often make large, long‑term investments in their lab infrastructure. The company stands out by offering full “design to installation” solutions rather than just individual products, and by handling multiple materials and highly customized layouts. A well‑established dealer and distribution network reinforces this position but also creates concentration risk, since a large share of sales flows through a small number of key partners. Competition remains active, yet Kewaunee’s integrated solutions, customization capability, and brand history give it a defensible spot in a fragmented market.

Innovation and R&D

Innovation and R&D Innovation is focused less on pure research and more on applied engineering and systems design. Kewaunee has developed proprietary ventilation features for fume hoods and modular lab systems that can be reconfigured as research needs change, which is increasingly important for modern labs. Its “total laboratory solutions” model blends product development with design, engineering, and project management expertise. Looking ahead, the alliance with Schneider Electric aims to push the company into “smart lab” territory, integrating connected, data‑aware systems for safety and efficiency, while the NuAire acquisition broadens its product range into critical lab equipment. These moves suggest a strategy of layering higher‑tech, higher‑value offerings on top of its traditional furniture base, but they also introduce integration and execution risks.

Summary

Overall, Kewaunee looks like a long‑established niche player that has strengthened its profitability and cash generation over the past few years while modestly expanding its balance sheet. The business has moved from uneven, sometimes loss‑making results toward more consistent operating profits, though earnings still fluctuate and appear sensitive to one‑off factors and market conditions. Financially, leverage has increased from very low levels, likely tied to growth initiatives and acquisitions, which improves growth potential but raises financial risk compared with the past. Strategically, the company benefits from deep relationships, a strong reputation in a specialized market, and a shift toward more technologically advanced, integrated solutions. Key uncertainties include the cyclicality of lab spending, dependence on major dealers, and the challenge of successfully executing its smart‑lab strategy and integrating NuAire without disrupting the steady progress made in recent years.

NEWS

November 26, 2025 · 4:02 PM UTC

Kewaunee Scientific to Report Results for Second Quarter Fiscal Year 2026

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September 10, 2025 · 4:08 PM UTC

Kewaunee Scientific Reports Results for First Quarter of Fiscal Year 2026

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September 2, 2025 · 4:03 PM UTC

Kewaunee Scientific to Attend the 2025 Arablab Live Trade Show in Dubai

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