Kennametal Inc (KMT) is undervalued and Snap-on Inc (SNA) is slightly undervalued.
Against our estimates of intrinsic value, KMT trades at the wider discount: a margin of safety of +59%, against +17% for SNA.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.6% (average of 3 methods) values the shares at $72.76; the price of $29.60 is 59% below that value, and 74% of that value comes from beyond year five.
Leak Score 100/100 on 3 of 12 signals
Discounting its cash flows at 8.9% (average of 3 methods) values the shares at $448.54; the price of $371.80 is 17% below that value, and 76% of that value comes from beyond year five.
Leak Score 77/100 on 9 of 12 signals
| Metric | KMT | SNA |
|---|---|---|
| Verdict | Undervalued | Slightly undervalued |
| Price | $29.60 | $371.80 |
| Intrinsic value | $72.76 | $448.54 |
| Margin of safety | +59% | +17% |
| Leak Score | 100/100 (3/12) | 77/100 (9/12) |
| Market cap | $2.3B | $19.2B |
| Revenue growth, 5 years | 5.1% | 5.5% |
| Operating margin | 20.4% | 25.4% |
| Net margin | 14.5% | 19.6% |
| Return on equity | 24.0% | 17.6% |
| Debt to equity | 0.49 | 0.22 |
| P/E | 6.7x | 19.0x |
| Forward P/E | 12.0x | 17.4x |
| P/B | 1.4x | 3.2x |
| Dividend yield | 4.4% | 2.7% |