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Kadant

Logo: Kadant Inc., Public domain, via Wikimedia Commons6

US-based paper company

Kadant Inc. is a company that was established in 1991, as a partly privately owned subsidiary of Thermo Electron, and partly publicly traded company, and was fully spun out and renamed Kadant in 2001.3 From Wikipedia, CC BY-SA 4.0

$259.39 up 0.31 (0.12%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 19, 2026.

Overview

$1.1BRevenue, fiscal 20267
$102.0MNet income, fiscal 20267
1991Founded1

Compare with JBT Marel Corporation, nVent Electric plc or Pentair, or pick any stock.

  • TickerKAI on NYSE1
  • IndustrySpecial Industry Machinery (No Metalworking Machinery)1
  • HeadquartersWestford1
  • Incorporated inDE8
  • Business addressOne Technology Park Drive, Westford, Ma 018868
  • Filer categoryLarge accelerated filer8
  • Legal formCorporation4
  • LEI549300K06LNJYBMPYP154
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 22786694

Kadant Inc. is a company that was established in 1991, as a partly privately owned subsidiary of Thermo Electron, and partly publicly traded company, and was fully spun out and renamed Kadant in 2001. The company supports papermaking, paper recycling, wood processing, material handling, and other processing industries. Kadant is a multi-national corporation with operations in Asia, Europe, North America, and South America.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

14.9%Operating margin7
9.7%Net margin7
10.4%Return on equity7
0.38×Debt to equity7
$154.3MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Parts and Consumables brought in 71% of the revenue Kadant broke down this way in fiscal 2025.

  1. Parts and Consumables$748.4M771%up 8% from 2024
  2. Capital$303.8M729%down 16% from 2024
Products and services by year
Products and services202320242025
Parts and Consumables$598.3M$693.6M$748.4M
Capital$359.3M$359.8M$303.8M

Business segments

Industrial Processing brought in 39% of the revenue Kadant broke down this way in fiscal 2025.

  1. Industrial Processing$409.5M739%down 5% from 2024
  2. Flow Control$382.9M736%up 3% from 2024
  3. Material Handling Systems$259.9M725%up 4% from 2024
Business segments by year
Business segments202320242025
Industrial Processing$354.7M$432.7M$409.5M
Flow Control$363.5M$371.2M$382.9M
Material Handling Systems$239.5M$249.5M$259.9M

Regions

United States brought in 37% of the revenue Kadant broke down this way in fiscal 2025.

  1. United States$534.0M737%up 2% from 2024
  2. Segment, Geographical, Groups of Countries, Other Countries$307.2M721%up 3% from 2024
  3. Europe$241.7M717%up 5% from 2024
  4. CA [member]$104.2M77%down 9% from 2024
  5. Asia$88.5M76%down 13% from 2024
  6. Rest of World$66.1M75%up 9% from 2024
  7. [Canada]$62.6M74%down 18% from 2024
  8. DEMember$44.2M73%up 1% from 2024
Regions by year
Regions202320242025
United States$448.6M$521.5M$534.0M
Segment, Geographical, Groups of Countries, Other Countries$311.4M$297.8M$307.2M
Europe$245.2M$230.1M$241.7M
CA [member]$73.2M$114.3M$104.2M
Asia$113.5M$101.7M$88.5M
Rest of World$60.3M$60.5M$66.1M
[Canada]$81.5M$75.9M$62.6M
DEMember$43.0M$43.9M$44.2M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue55¢$576.5M
  • Research and development1¢$15.3M
  • Selling, general and admin29¢$301.9M
  • Other costs2¢$16.7M
  • Income tax4¢$39.9M
  • Profit10¢$102.0M

Out of $1.1B in revenue.7

Where each dollar of operating cash went, fiscal 2026

  • Capital spending10¢$17.0M
  • Dividends paid9¢$15.8M
  • Kept or used elsewhere81¢$138.5M

Out of $171.3M of cash from operations.7

Financial statements

Revenue1112137$1.1B in 2026+49% since 2019
0$500.0M$1.0B$1.5B2019: $704.6M$704.6M20192021: $635.0M$635.0M2021−10%2022: $904.7M$904.7M2022+42%2023: $957.7M$957.7M2023+6%2024: $1.1B$1.1B2024+10%2026: $1.1B$1.1B2026−0%
Operating income1112137$157.3M in 2026+79% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $87.8M$87.8M20192021: $81.1M$81.1M2021−8%2022: $171.3M$171.3M2022+111%2023: $165.8M$165.8M2023−3%2024: $171.3M$171.3M2024+3%2026: $157.3M$157.3M2026−8%
Net income1112137$102.0M in 2026+96% since 2019
0$50.0M$100.0M$150.0M2019: $52.1M$52.1M20192021: $55.2M$55.2M2021+6%2022: $120.9M$120.9M2022+119%2023: $116.1M$116.1M2023−4%2024: $111.6M$111.6M2024−4%2026: $102.0M$102.0M2026−9%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Revenue (Notes 1 and 11)$1.1B$1.1B$957.7M
Cost of revenue$576.5M$587.2M$541.4M
Selling, general, and administrative expenses$301.9M$279.9M$236.3M
Research and development expenses$15.3M$14.3M$13.6M
Other costs, net (Note 8)$1.3M$658.0K$723.0K
Total Costs and Operating Expenses$895.0M$882.1M$791.9M
Operating Income$157.3M$171.3M$165.8M
Interest Income$1.9M$1.9M$1.8M
Interest Expense-$15.6M-$20.0M-$8.4M
Other Expense, Net-$61.0K-$69.0K-$101.0K
Income Before Provision for Income Taxes$143.6M$153.1M$159.0M
Provision for Income Taxes (Note 5)$39.9M$40.5M$42.2M
Net Income$103.7M$112.6M$116.8M
Net Income Attributable to Noncontrolling Interests-$1.7M-$956.0K-$737.0K
Net income attributable to Kadant$102.0M$111.6M$116.1M
Basic (in dollars per share)$8.66$9.51$9.92
Diluted (in dollars per share)$8.65$9.48$9.90
Basic (in shares)11.8M shares11.7M shares11.7M shares
Diluted (in shares)11.8M shares11.8M shares11.7M shares

Compare Kadant with another company

The story

The company was established as Thermo Fibrotek in 1991 as a wholly owned subsidiary of Thermo Electron as part of its parent's strategy to innovate and grow by creating subsidiaries that were privately owned in part, and publicly traded in part. Its initial focus was paper making and paper recycling equipment.

In 1996, the company set up a subsidiary, Thermo Fibergen, which it in turn made partially publicly traded, to focus on technologies to recover products from paper-making waste products; that company in turn acquired Granulation Technology, Inc. and created a division called GranTek that produced granules from sludge that were used, for example, as a carrier for agricultural chemicals and pesticides. The original plan was that Fibergen would build its plants adjacent to paper-making plants to process their waste, but this plan failed because it required paper-making plants to commit to long-term contracts to dispose of their waste, which they were unwilling to do. The granule business became the focus of Fibergen, helped in part by enzymologist Anatole Klyosov.

In 1997, the company acquired Black Clawson for $110 million.

In 2001, Thermo Electron fully spun out Thermo Fibrotek, which changed its name to Kadant at the same time; the Fibrogen division was renamed to Kadant Composites at the same time. The granule business of Kadant Composites took off when the company started using it as a filler in composite plastics products for decking, with sales growing from under $2 million in 2001 to $15 million in 2004.

In 2013, the company acquired Carmanah Design and Manufacturing Inc. for Canadian dollars (CAD) 54 million in cash, or approximately US$52 million.

From Wikipedia’s article on Kadant, shared under CC BY-SA 4.0.9

Leadership

Who has led Kadant, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (22)

Products and brands

Products

Kadant engages in mainly four segments: stock preparation systems; fluid handling systems; roll doctoring, cleaning and filtration; and fiber-based granules.

Kadant provides custom-engineered systems (e.g. recycling and approach flow systems) and equipment (e.g. virgin pulping process equipment). The company also provides fluid-handling systems (e.g. rotary joints, syphons, turbulator bars, precision unions) widely used in the dryer section of the papermaking process, and the production of corrugated boxboard, metals, plastics, rubber, textiles, chemicals, and food. In addition, the company offers doctoring systems (e.g. doctor blades), profiling systems, shower and fabric-conditioning, formation, and water filtration systems. Kadant also provides individual components, widely used in pulping, de-inking, screening, cleaning, refining recycled. The company supplies biodegradable absorbent granules from papermaking byproducts for some agriculture uses.

Research and development

Kadant's Research and Development facilities are based in Europe and the US, engaging in fiber processing, heat transfer, doctoring, and fluid handling. These facilities are located where customers can test under their own operating conditions. The company also holds seminars and training programs.

From Wikipedia’s article on Kadant, shared under CC BY-SA 4.0.9

Subsidiaries and ownership

Subsidiaries (GLEIF)

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Former names

  • THERMO FIBERTEK INCMay 3, 1996 to Apr 6, 20018

Timeline

  1. Nov 1, 2019New chief executive Jeffrey L. Powell becomes CEO19
  2. Jan 5, 2010New chief executive Jonathan W. Painter becomes CEO20
  3. Jun 14, 2006New chief executive William A. Rainville becomes CEO21
  4. 1991Founded Founded1

Filings

424 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 46 major events, 264 insider forms, 30 large holders, 64 other. The latest 20:

  1. Oct 5, 20264 EDGAR
  2. Oct 5, 20264 EDGAR
  3. Oct 5, 20264 EDGAR
  4. Oct 5, 20264 EDGAR
  5. Oct 5, 20264 EDGAR
  6. Sep 10, 20268-K KAI FORM 8-K 9-10-2026 CEO SUCCESSION PLAN EDGAR
  7. Aug 12, 202610-Q KAI FORM 10-Q Q2 2026 EDGAR
  8. Aug 4, 20268-K KAI FORM 8-K 08-04-2026 EDGAR
  9. Jul 15, 2026SCHEDULE 13G/A EDGAR
  10. Jul 6, 20264 EDGAR
  11. Jul 6, 20264 EDGAR
  12. Jul 6, 20264 EDGAR
  13. Jul 6, 20264 EDGAR
  14. Jul 6, 20264 EDGAR
  15. Jun 3, 20264 EDGAR
  16. May 29, 2026SD EDGAR
  17. May 27, 20264 EDGAR
  18. May 27, 2026144 EDGAR
  19. May 26, 20268-K FORM 8-K 2026 ANNUAL STOCKHOLDER MEETING EDGAR
  20. May 18, 20264 EDGAR

The 424 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

65 open-market trades by officers, directors and large owners since October 2021: 0 buys and 65 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 27, 2026KRAUSE STACY D.SVP, GC and SecretarySale1,227$334.17$410.0KForm 4
May 18, 2026Blanchard Thomas AndrewVice PresidentSale1,400$322.04$450.9KForm 4
Nov 25, 2025Russell Erin LDirectorSale1,435$282.36$405.2KForm 4
Nov 11, 2025O'Mara Rebecca MartinezDirectorSale699$266.91$186.6KForm 4
Aug 27, 2025LEONARD THOMAS CDirectorSale415$338.41$140.4KForm 4
Aug 18, 2025Blanchard Thomas AndrewVice PresidentSale714$343.00$244.9KForm 4
Jun 13, 2025Flynn Peter J.Senior Vice PresidentSale1,500$320.00$480.0KForm 4
Mar 19, 2025Blanchard Thomas AndrewVice PresidentSale325$341.59$111.0KForm 4
Feb 28, 2025MCKENNEY MICHAEL JExecutive Vice President & CFOSale8,026$370.58$3.0MForm 4
Nov 19, 2024LEONARD THOMAS CDirectorSale152$398.22$60.5KForm 4
Nov 19, 2024Mitchell Dara FSenior VP, Corp. DevelopmentSale1,001$397.64$398.0KForm 4
Nov 18, 2024Westerhout Fredrik HVice PresidentSale600$397.25$238.3KForm 4
Nov 15, 2024O'Mara Rebecca MartinezDirectorSale300$392.59$117.8KForm 4
Nov 12, 2024Colwell Michael C.Senior Vice PresidentSale497$396.56$197.1KForm 4
Sep 26, 2024LEONARD THOMAS CDirectorSale2,000$337.40$674.8KForm 4
Sep 16, 2024LEONARD THOMAS CDirectorSale5,133$321.29$1.6MForm 4
Sep 16, 2024Powell Jeffrey LPresident & CEOSale8,277$321.93$2.7MForm 4
Sep 13, 2024Powell Jeffrey LPresident & CEOSale1,723$324.35$558.9KForm 4
Aug 29, 2024O'Mara Rebecca MartinezDirectorSale200$318.26$63.7KForm 4
Aug 28, 2024MCKENNEY MICHAEL JExecutive Vice President & CFOSale5,500$317.66$1.7MForm 4

All 65 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.1,798,699$565.2M0.0%+62,069
Kayne Anderson Rudnick Investment Management LLC1,075,244$337.9M1.0%−86,351
Wasatch Advisors LP868,696$273.0M1.8%−169,852
Vanguard Portfolio Management LLC710,867$223.4M0.0%+8,927
Vanguard Capital Management LLC532,346$167.3M0.0%+3,298
State Street Corp482,921$151.7M0.0%+22,407
Capital International Investors454,554$142.8M0.0%+6,713
Morgan Stanley348,784$109.6M0.0%+185,611
Geode Capital Management, LLC343,896$108.1M0.0%+24,274
Goldman Sachs Group Inc317,583$99.8M0.0%+213,234
Neuberger Berman Group LLC288,432$90.6M0.1%−81,054
Dimensional Fund Advisors LP287,244$90.3M0.0%+8,699
Royce & Associates LP265,709$83.5M0.7%+27,763
Capital World Investors253,815$79.8M0.0%−101,035
Nomura Asset Management International Inc.211,370$66.4M0.1%+28,963
Grandeur Peak Global Advisors, LLC211,036$66.3M15.3%+97,433
Riverbridge Partners LLC194,573$61.1M1.7%−57,657
Brown Advisory Inc158,366$49.8M0.1%−14,099
Brown Brothers Harriman & Co151,837$47.7M0.2%No change
Conestoga Capital Advisors, LLC150,265$47.2M1.0%−59,684
Northern Trust Corp148,074$46.5M0.0%+1,851
Charles Schwab Investment Management Inc137,453$43.2M0.0%+2,316
Wells Fargo & Company/mn129,451$40.7M0.0%+459
Massachusetts Financial Services Co /ma/108,550$36.4M0.0%+20,757
Bank Of America Corp /de/108,182$34.0M0.0%−10,066

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

5 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Feb 28, 2022Donald S. Beyer, Jr.Democratic, HouseSale$1,001 - $15,000+45.7%Report
Mar 18, 2021Donald S. Beyer, Jr.Democratic, HouseBuy$1,001 - $15,000−51.8%Report
Mar 11, 2021Donald S. Beyer, Jr.Democratic, HouseBuy$1,001 - $15,000−49.3%Report
Feb 4, 2021Donald S. Beyer, Jr.Democratic, HouseBuy$1,001 - $15,000−24.8%Report
Dec 15, 2020Donald S. Beyer, Jr.Democratic, HouseBuy$1,001 - $15,000−25.6%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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