olivLaw · European equity research
Konecranes Oyj KCR.HE
Finland · Nasdaq Helsinki · Vertical: Listed companies from Finland
Konecranes Oyj makes and services material handling equipment and solutions, serving industrial and port customers worldwide. In 2025 it recorded higher orders and a better comparable EBITA margin, which makes the company relevant for those tracking the global industrial cycle.
At the close of 05 Nov 2026, Konecranes Oyj (KCR.HE) stock was 28.36 EUR (+0.35% on the day), with market capitalisation 2.2 bn EUR, P/E 5.6 on diluted EPS of 5.03 EUR over the last 12 months, beta 1.28, 52-week range 25.54–34.57 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 46.9
- neutral
- Bollinger (20, 2)
- 26.22 – 31.25
- in the lower half of the band · %B 0.43 · band width 17.5%
- SMA 50 / 200
- 29.44 / 29.13
- mixed trend
- MACD (12, 26, 9)
- -0.53 / -0.52
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −10.5% | +0.4% | −10.9 pp | — |
| 3 months | +3.1% | −3.3% | +6.4 pp | — |
| 6 months | +3.3% | +4.0% | −0.7 pp | — |
| Year to date | −9.4% | +8.1% | −17.5 pp | — |
| 1 year | +2.0% | +10.7% | −8.7 pp | −1.2% |
| 3 years | +168.4% | +50.1% | +118.3 pp | +4.1% |
| 5 years | +115.8% | +43.6% | +72.2 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 50 percentile of its own 2-quarter history (min 4.4, median 5.3, max 6.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2024 | 2025 |
|---|---|---|
| Revenue | 4.2 bn | 4.2 bn |
| Revenue YoY | unavailable | −0.9% |
| Net income | 368.4 m | 399.8 m |
| Net income YoY | unavailable | +8.5% |
| Diluted EPS | 4.63 | 5.03 |
| Diluted EPS YoY | unavailable | +8.6% |
| net % | 8.7% | 9.5% |
| Free cash flow | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 631.9 m EUR
- Financial debt
- 469.9 m EUR
- Net debt
- -162.0 m EUR
- Equity
- 2.1 bn EUR
- Total assets
- 4.6 bn EUR
- Debt / equity
- 0.23x
- Current ratio
- 1.45x
- ROE
- 20.3%
- ROA
- 8.6%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Revenue | 4.2 bn | 4.2 bn | esef· 04 Mar 2026verified |
| Operating income | 511.4 m | 542.4 m | esef· 04 Mar 2026verified |
| Interest expense | 57.9 m | 63.7 m | esef· 04 Mar 2026verified |
| Pre-tax income | 485.3 m | 516.5 m | esef· 04 Mar 2026verified |
| Income tax | 116.9 m | 116.8 m | esef· 04 Mar 2026verified |
| Net income | 368.4 m | 399.8 m | esef· 04 Mar 2026verified |
| Diluted EPS | 4.63 | 5.03 | esef· 04 Mar 2026verified |
Balance sheet · EUR
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Cash | 710.0 m | 631.9 m | esef· 04 Mar 2026verified |
| Inventories | 946.3 m | 913.4 m | esef· 04 Mar 2026verified |
| Current assets | 2.7 bn | 2.6 bn | esef· 04 Mar 2026verified |
| Goodwill | 1.1 bn | 1.0 bn | esef· 04 Mar 2026verified |
| Intangibles (excl. goodwill) | 449.9 m | 417.7 m | esef· 04 Mar 2026verified |
| Total assets | 4.8 bn | 4.6 bn | esef· 04 Mar 2026verified |
| Short-term debt | 356.3 m | 166.2 m | esef· 04 Mar 2026verified |
| Long-term debt | 539.3 m | 303.7 m | esef· 04 Mar 2026verified |
| Current liabilities | 2.0 bn | 1.8 bn | esef· 04 Mar 2026verified |
| Total liabilities | 2.9 bn | 2.5 bn | esef· 04 Mar 2026verified |
| Equity | 1.9 bn | 2.1 bn | esef· 04 Mar 2026verified |
| Shares outstanding at year end | 79.2 m | 79.2 m | esef· 04 Mar 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 37.5% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 2.2 bn EUR
Key indicators
Coverage and freshness
Score by group
38% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 44.61 – 93.05 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E44.61 – 93.05 (Mid 58.44)23 companies used · median multiple 11.6x · quartiles 8.9x – 18.5xALMA.HE, APETIT.HE, ASPO.HE, ATRAV.HE, BIOBV.HE, CAPMAN.HE, CONSTI.HE, DIGIA.HE, ELEAV.HE, ELISA.HE, ENENTO.HE, ETTE.HE, FORTUM.HE, FSECURE.HE, GLA1V.HE, GRK.HE, HARVIA.HE, ICP1V.HE, ILKKA.HE, INVEST.HE, KALMAR.HE, KAMUX.HE, KEMIRA.HE
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 21.2% | 92 (vs peers) | 28% |
| Net margin · Quality | 9.5% | 72 (vs peers) | 17% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 8.5x | 100 (on a fixed band) | 17% |
| Current ratio · Balance sheet | 1.4x | 54 (on a fixed band) | 11% |
| P/E (TTM) · Valuation | 5.6x | 86 (vs peers) | 28% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet82/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality84/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial86/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Konecranes Oyj (KCR.HE). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 4.2 bn EUR in 2025; YoY growth -0.9%; net margin 9.5%; ROE 20.3%.
The estimated value range is 44.61–93.05 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 58.44 EUR, the price of 28.36 EUR leaves a potential of 106.1% (value / price − 1) and a margin of safety of 51.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 21.2%
- Net margin: 9.5%
- Interest coverage: 8.5x
- P/E (TTM): 5.6x
- The price is below the estimated value range
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Finland · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| FORTUM.HEFortum Oyj | 20.8 bn | 27.2 | 8.7% | 15.3% | −14.0% | +32% / +81% |
| ELISA.HEElisa Oyj | 5.6 bn | 16.3 | 27.0% | 15.2% | +3.0% | −8% / −15% |
| KEMIRA.HEKemira Oyj | 2.5 bn | 13.6 | 10.5% | 6.6% | −6.6% | −17% / +4% |
| KALMAR.HEKalmar Oyj | 2.4 bn | 14.7 | 24.1% | 9.4% | +1.2% | +0% / unavailable |
| KCR.HEKonecranes Oyj | 2.2 bn | 5.6 | 20.3% | 9.5% | −0.9% | −4% / +134% |
| EXEL.HEExel Composites Oyj | 1.8 bn | — | -18.5% | -5.3% | +3.6% | +163% / +74% |
| BITTI.HEBittium Oyj | 1.2 bn | 55.8 | 17.5% | 17.9% | +40.1% | +73% / +603% |
| ALMA.HEAlma Media Oyj | 1.2 bn | 21.2 | 23.0% | 16.9% | +4.6% | +9% / +57% |
| FIA1S.HEFinnair Oyj | 927.4 m | 50.4 | 2.9% | 0.6% | +1.9% | +54% / +22% |
| GRK.HEGRK Infra Oyj | 788.5 m | 18.3 | 27.8% | 4.9% | +19.7% | +52% / unavailable |
| HARVIA.HEHarvia Oyj | 768.7 m | 29.3 | 21.0% | 13.3% | +13.5% | −1% / +64% |
| ATRAV.HEAtria Oyj | 451.7 m | 11.1 | 9.8% | 2.2% | +3.3% | +13% / +57% |
| ANORA.HEAnora Group Oyj | 317.6 m | 57.8 | 1.4% | 0.8% | −4.9% | +26% / +11% |
| CAPMAN.HECapMan Oyj | 300.2 m | 23.1 | 6.8% | 20.9% | +9.4% | −8% / −20% |
| ICP1V.HEIncap Oyj | 261.0 m | 18.7 | 10.4% | 6.5% | −6.7% | −3% / +37% |
| FSECURE.HEF-Secure Oyj | 243.7 m | 10.9 | 43.4% | 15.3% | −0.4% | −17% / −23% |
| ASPO.HEAspo Oyj | 219.4 m | 9.3 | 15.4% | 5.0% | +2.1% | +2% / +9% |
| ETTE.HEEtteplan Oyj | 173.7 m | 16.4 | 8.8% | 2.9% | +0.1% | −27% / −51% |
| DIGIA.HEDigia Oyj | 131.6 m | 10.5 | 14.5% | 5.9% | +5.5% | −16% / −12% |
| ILKKA.HEIlkka Oyj | 93.8 m | 8.1 | 6.2% | 30.8% | +22.6% | +0% / +21% |
| CONSTI.HEConsti Oyj | 77.4 m | 11.6 | 15.3% | 2.0% | +2.9% | −8% / −6% |
| APETIT.HEApetit Oyj | 75.6 m | 8.4 | 8.2% | 5.4% | +3.1% | −14% / −3% |
| ESENSE.HEEnersense International Oyj | 74.9 m | 74.7 | 3.1% | 0.4% | −27.7% | +12% / +9% |
| CTH1V.HEComponenta Oyj | 66.1 m | 324.0 | 0.8% | 0.2% | −4.6% | +49% / +182% |
| KAMUX.HEKamux Oyj | 47.4 m | 10.3 | 4.2% | 0.5% | +0.8% | −40% / −77% |
1- and 3-year price returns: for KCR.HE from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 15.91 Total return -44% · Per year -44% | 28.21 Total return -1% · Per year -1% | 42.60 Total return 50% · Per year 50% |
| 3 years | 13.80 Total return -51% · Per year -21% | 27.69 Total return -2% · Per year -1% | 46.14 Total return 63% · Per year 18% |
| 5 years | 11.98 Total return -58% · Per year -16% | 27.18 Total return -4% · Per year -1% | 49.97 Total return 76% · Per year 12% |
- Exit P/E± 6.92
- Net margin± 4.85
- Annual revenue growth± 4.20
- Annual dilution± 0.41
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Konecranes Oyj makes and services material handling equipment and solutions, serving industrial and port customers worldwide. In 2025 it recorded higher orders and a better comparable EBITA margin, which makes the company relevant for those tracking the global industrial cycle 1.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Industrial cyclicalityhigh
Demand depends on industrial production, and a slowdown could reduce new orders 1.
- Currencymedium
Exposure to the euro-dollar rate can influence sales and reported results, as variations in 2025 showed 1.
- Raw material pricesmedium
Steel and copper are important inputs, and their price swings can affect production costs 1.
- Port trafficmedium
Port Solutions depends on global container traffic, which can fluctuate 1.
- Climate and environmental riskslow
Climate scenarios and climate-related risks can influence operations and financial estimates 1.
Investment thesis
What would need to be true (bull case)
What to watch
- Development of orders and the order bookQ1 2027
- Comparable EBITA margin of Industrial Equipment2027
- Global container traffic and Port Solutions demand2027
- Integration of acquisitions as reported in the next annual reportnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The company has three Business Areas: Industrial Service, Industrial Equipment and Port Solutions. Konecranes operates in EMEA, the Americas and APAC, and in 2025 EMEA made up 51 percent of sales on a rolling basis, according to the annual report 1. The business model combines equipment sales with service and maintenance agreements, which stabilises revenue over the long term 1.
Konecranes sells under several brands: Konecranes products go directly to end-customers, while Demag, SWF, Verlinde, R&M and Donati products are sold through distributors and original equipment manufacturers 1. The multi-brand approach follows from past acquisitions that brought strong positions in certain products and regions 1.
The maintenance ecosystem includes TRUCONNECT, a remote monitoring system that collects real-time data on equipment condition, and the SLIM application used by field technicians 1. These tools help anticipate maintenance needs and guide service sales 1.
Segments
Market context
Trends
- Global industrial cyclemixed
The manufacturing PMI drives demand for material handling equipment. If industrial production recovers, demand for new equipment could rise 1.
- Port container traffictailwind
Global container traffic remained strong in 2025, supporting demand for Port Solutions 1.
- Automation and electrificationtailwind
The company identifies opportunities in port and factory automation and electrification, which could open new orders 1.
- Materials costs and currencyheadwind
Steel prices were below the prior year while copper prices were higher, and EUR/USD movements affect reported results 1.
Competitive position
Konecranes operates in a competitive material handling equipment market where advantage rests on technology, patents and the service network 1. The company states it owns the largest patent portfolio in its industry 1.
The annual report does not detail direct competitors, so positioning against rivals relies on the company's own statements about technology and service 1.
- Terex CorporationTEX
Named as an example of a lifting equipment competitor; not drawn from the supplied source.
- Manitowoc CompanyMTW
Crane manufacturer, cited as a possible competitor; not detailed in the supplied source.
- Columbus McKinnonCMCO
Specialises in material handling and hoisting; possible competitor in industrial equipment.
- Gottwald Port Technology
Port technology business linked to the group's port brands; not listed in the US.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202504 Mar 2026
- Annual report 202504 Mar 2026
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Konecranes Oyj · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.