Kernel Holding SA

Kernel Holding SA maintains a conservative capital structure with a debt-to-equity ratio of 0.36 and a current ratio of 3.01, indicating strong short-term liquidity coverage. The company holds total assets of $3.32 billion against total liabilities of $1.24 billion, resulting in total equity of $2.08 billion. Despite the strong current ratio, the risk assessment flags medium liquidity risk and notes that net cash is negative after subtracting total debt, suggesting reliance on operating cash flows to service obligations. The company generated $241.7 million in operating cash flow and $262.3 million in free cash flow, demonstrating positive cash generation despite capital expenditures of $84.9 million.

Profitability metrics show a return on equity of 11.46% and a return on assets of 7.17%, reflecting efficient use of capital. The company reported revenue of $4.12 billion with a gross profit of $561.9 million, resulting in an operating income of $360.8 million and net income of $238.2 million. The valuation multiples include a price-to-earnings ratio of 23.73, a price-to-book ratio of 2.72, and an EV/EBITDA of 17.74, positioning the company at a premium valuation relative to its book value. The EV/Revenue ratio of 1.56 suggests a moderate enterprise value relative to sales scale.

Revenue concentration and geographic exposure details are not provided in the available data, preventing a detailed analysis of segment or regional risk. The company’s primary activity is identified as Exploration & Production, with no further breakdown of revenue streams by product or geography disclosed in the current snapshot.

Growth trajectory analysis is limited due to the absence of historical period data in the input. The current financial snapshot provides a single-period view of revenue and net income, but without multi-year or quarterly trend data, long-term growth rates and momentum cannot be calculated. The company’s current revenue base of $4.12 billion serves as the baseline for future performance evaluation.

Risk factors include medium liquidity risk and low dilution risk, with a key flag noting negative net cash after debt subtraction. The company’s ESG profile shows a total score of 63.44 with a grade of B, comprising an environment pillar score of 62.02, social pillar of 70.49, and governance pillar of 52.80. The ESG controversies score is 100, indicating minimal controversy exposure. The low dilution risk is supported by identical basic and diluted share counts of 293.1 million, suggesting no significant outstanding options or convertible securities impacting share count.

Recent observations include analyst estimates confirming last actual revenue of $4.115 billion. The company’s market capitalization is reported at $5.65 billion based on a market price of $19.28, though a reference note mentions a market capitalization of $33.68 billion, which may reflect a different currency or data source discrepancy. No specific filing, news, or transcript events are detailed in the available observations beyond the ESG and analyst estimate data.

Free cash flow surged 112.1% year-over-year to $262.3 million, demonstrating strong operational cash generation capabilities.

Net income grew 41.8% to $238.2 million, indicating a robust recovery in profitability compared to the prior year.

Long-term debt decreased significantly to $755.0 million, reducing leverage and improving the company's balance sheet strength.

Revenue increased 14.9% to $4.12 billion, showing top-line growth momentum despite a negative four-year CAGR.

The company faces medium liquidity risk and medium credit risk, highlighting potential financial stability concerns.

Cash conversion ratio of 1.01 is below the 1.22 median for the Oil & Gas Exploration & Production cohort.

Revenue $1.02B, +3,7% YoY; Operating income +256,1% YoY.

• ▍Revenue $1.02B, +3,7% YoY
• ▍Operating income +256,1% YoY
• ▍Net income +156,9% YoY
• ▍Free cash flow +158,2% YoY
• ▍Net margin 2.0%

Revenue $1.14B; Operating income $83.9M.

• ▍Revenue $1.14B
• ▍Operating income $83.9M
• ▍Net margin 3.6%

Revenue $1.15B; Operating income $91.3M.

• ▍Revenue $1.15B
• ▍Operating income $91.3M
• ▍Net margin 4.9%

Revenue $797.7M; Operating income $141.0M.

• ▍Revenue $797.7M
• ▍Operating income $141.0M
• ▍Net margin 15.2%

Revenue $986.5M; Operating income -$28.7M.

• ▍Revenue $986.5M
• ▍Operating income -$28.7M
• ▍Net margin -3.6%

Revenue $4.12B, +14,9% YoY; Operating income +33,3% YoY.

• ▍Revenue $4.12B, +14,9% YoY
• ▍Operating income +33,3% YoY
• ▍Net income +41,8% YoY
• ▍Free cash flow +112,0% YoY
• ▍Net margin 5.8%

Revenue $3.58B, +3,7% YoY; Operating income −38,4% YoY.

• ▍Revenue $3.58B, +3,7% YoY
• ▍Operating income −38,4% YoY
• ▍Net income −43,9% YoY
• ▍Free cash flow −59,8% YoY
• ▍Net margin 4.7%

Revenue $3.46B, −35,2% YoY; Operating income +384,7% YoY.

• ▍Revenue $3.46B, −35,2% YoY
• ▍Operating income +384,7% YoY
• ▍Net income +827,9% YoY
• ▍Free cash flow +228,8% YoY
• ▍Net margin 8.7%

Revenue $5.33B, −4,7% YoY; Operating income −86,8% YoY.

• ▍Revenue $5.33B, −4,7% YoY
• ▍Operating income −86,8% YoY
• ▍Net income −108,0% YoY
• ▍Free cash flow −157,7% YoY
• ▍Net margin -0.8%

Revenue $5.59B; Operating income $689.3M.

• ▍Revenue $5.59B
• ▍Operating income $689.3M
• ▍Net margin 9.2%