KONE Oyj Class B

KNEBV: XHEL (FIN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Kone Earnings: Service and Modernization Power Margin Expansion; Valuation Looks Full

Joachim Kotze

Feb 6, 2026

Kone reported a solid close to 2025, delivering 12% organic order growth and 4% comparable sales growth as modernization and service more than offset continued weakness in China new equipment. Adjusted EBIT margin expanded 0.6% to 13.6%, supported by a more favorable mix and cost reductions.

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KONE Oyj Class B

Kone Earnings: Service and Modernization Power Margin Expansion; Valuation Looks Full

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