Kering (KER.PA): analysis in plain words
Is Kering cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Kering (KER.PA) is listed on Euronext Paris and we classify it in luxury and apparel. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Kering according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Kering (KER.PA) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | €191.70 | Last price on November 4, 2026 |
| P/E ratio (TTM) | N/A | Price over earnings per share |
| Revenue growth | -2.9% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | -1.5% | Profit for every 100 of sales |
| Net debt / EBITDA | 3.7x | Years of operating profit to repay debt |
| Dividend yield | 1.66% | Annual dividend over price |
| Market cap | €23.5 billion | What the stock market values it at |
The Kering figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any KER.PA figure that is not available shows as N/A: we do not estimate it.
How Kering makes money
Kering is a luxury group whose sales come from its fashion houses: Gucci, the largest, Yves Saint Laurent, Bottega Veneta and others such as Balenciaga and Alexander McQueen, plus jewelry (Boucheron) and Kering Eyewear, which makes glasses. It sells handbags, clothing and shoes through its own stores in Asia, Europe and North America.
Over the last 12 months, Kering brought in revenue of €14.5 billion. For every 100 it sells, Kering keeps 72.1 after the direct cost of what it sells (gross margin) and 12.8 after all operating costs (operating margin). With 41,147 full-time employees, that is about €351,000 of revenue per employee.
Kering against its sector
To know whether a Kering figure is high or low you have to put it next to similar companies. This table compares Kering with the median of the 6 luxury and apparel companies Fintols covers, with data as of November 4, 2026.
| Figure | Kering | luxury and apparel median |
|---|---|---|
| Revenue growth | -2.9% | +1.6% (7) |
| Net margin | -1.5% | 8.5% (7) |
| Dividend yield | 1.66% | 1.66% (7) |
| Net debt / EBITDA | 3.7x | 1.2x (7) |
In short, against the typical luxury and apparel company, Kering grows more slowly, earns a thinner margin and carries more debt. By size, Kering ranks number 6 of 6 luxury and apparel companies quoted in EUR on Fintols.
The bull case for Kering
These are the strengths in the Kering figures as of November 4, 2026:
- Kering generates real cash: €2.5 billion of free cash flow over 12 months, 10.8% of its stock market value.
The main risk for Kering
Kering is losing money: its net margin over the last 12 months is -1.5%, so it spends more than it brings in. Until it turns a profit it relies on its cash or on raising money.
On top of that: kering stock sits 41% below its 52-week high (€325.55): the market has cut its expectations, and it is worth understanding why first.
And, like the rest of luxury and apparel, Kering is exposed to spending by wealthier customers, especially in China and the US, cooling down.
Frequently asked questions about Kering
Is it a good time to buy Kering stock?
Fintols does not tell you whether to buy or sell Kering, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Kering stock trades at €191.70, 41% below its 52-week high (€325.55) and 10% above its low (€173.50). With Kering, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Kering pay a dividend?
Yes. As of November 4, 2026, Kering pays €3.00 per share a year, which at today's price is a yield of 1.66%. It uses 128% of its profit to pay it, more than it earns, which cannot last forever. Its average dividend yield over the last five years is 2.35%. The luxury and apparel median on Fintols is 1.66%.
Is Kering stock expensive?
Kering has no meaningful P/E as of November 4, 2026 because its last 12 months of earnings are negative or close to zero, so that yardstick cannot tell you whether it is expensive. Including its debt, Kering is valued at 12.9x its EBITDA (EV/EBITDA). A high P/E alone does not make Kering expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Kering's competitors?
On Fintols we compare Kering with Adidas, Inditex and LVMH, which are also in luxury and apparel. As of November 4, 2026, Adidas is worth €29.8 billion and trades on a P/E of 19.0; Inditex is worth €184.0 billion and trades on a P/E of 28.0; LVMH is worth €205.2 billion and trades on a P/E of 19.0. Each has a side-by-side comparison with Kering below.
Kering competitors
- Adidas (ADS.DE) analysis · Kering vs Adidas comparison
- Inditex (ITX) analysis · Kering vs Inditex comparison
- LVMH (MC.PA) analysis · Kering vs LVMH comparison
To understand Kering better
More companies like Kering: luxury and apparel stocks. Open the full KER.PA analysis with its valuation and scenarios. Educational content about Kering, not investment advice.