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Research

Kone: Marching on in the thicket

By Erkki VesolaAnalyst
Kone
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KONE's Q3 figures were pretty close to consensus but slightly below our expectations. KONE reiterated its 2023 guidance and the market outlook comments were also unchanged. KONE’s share is fairly fully priced with all the indicators we use.

Kone is a manufacturer of elevators, escalators and automatic doors. Other related products and systems provided by the company include barriers, docking systems and traffic gates. The company's products are sold in all global regions through authorized distributors. Kone was founded in 1910 and is headquartered in Espoo.

Read more on company page

Key Estimate Figures26.10.2023

202223e24e
Revenue10,906.711,371.711,819.4
growth-%3.7 %4.3 %3.9 %
EBIT (adj.)1,076.61,285.51,426.9
EBIT-% (adj.)9.9 %11.3 %12.1 %
EPS (adj.)1.591.942.12
Dividend1.751.751.80
Dividend %3.6 %3.2 %3.3 %
P/E (adj.)30.528.326.0
EV/EBITDA18.218.115.9

Forum discussions

This materialized and the company delisted from the Tokyo Stock Exchange. As of March 23, 2026, Fujitec has been delisted from the Prime Market...
3/29/2026, 7:44 PM
by Ilkka
6
Complaint and authority processes are an integral part of various industries when the world’s leading players operate with each other. Even ...
3/25/2026, 5:58 PM
by DefensiveAttitude
1
Quite a lot of whining and threatening from the Swiss boys, unfair, breaking market hegemony… Even disruption… Well, competitive situations ...
3/25/2026, 8:26 AM
by Opa
4
Here are Aapeli’s fresh comments regarding the rumored merger of KONE and TK Elevator. Inderes KONEen ja TK Elevatorin huhutuille yhdistymishaaveille...
3/25/2026, 7:50 AM
by Sijoittaja-alokas
6
Here are Viljakainen’s comments on reports from Bloomberg and Reuters that KONE might be looking to acquire TK Elevator. According to news from...
3/17/2026, 6:33 AM
by Sijoittaja-alokas
9
Kone is once again rumored to be after Thyssen’s elevators. Indeed, in 2020 they went to private equity investors for 17 billion EUR, now there...
3/16/2026, 5:47 PM
by Opa
13
CEO and CFO review from the Annual General Meeting held last week. Inderes KONEen yhtiökokous | Toimitusjohtajan ja talousjohtajan katsaus 5...
3/12/2026, 10:09 AM
by Sara Antonacci
4
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