Knowles Corporation
- Open
- 34.27
- Day high
- 35.11
- Day low
- 33.71
- Prev close
- 34.33
- Volume
- 911K
- Mkt cap
- $2.9B
- P/E (TTM)
- 43.6
- EPS (TTM)
- $0.79
- P/B
- 3.7
- P/S
- 4.6
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$9.8M over the last 3 months (0 open-market buys, 8 sales)
- 🏛Institutions accumulating (13F)
Knowles Corporation (KN) is a Technology company listed on NYSE. The stock is up 67% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 8 sales (SEC Form 4). Drillr has 2 published research articles covering KN.
Knowles Corporation (KN) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
KN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 23, 2026 | $0.30 | $0.33 | +8.2% | $167M | +6.7% |
| Apr 23, 2026 | $0.23 | $0.27 | +17.9% | $153M | +5.0% |
| Feb 5, 2026 | $0.35 | $0.36 | +3.7% | $162M | +14.8% |
| Oct 23, 2025 | $0.35 | $0.33 | -5.4% | $153M | -0.4% |
| Jul 24, 2025 | $0.17 | $0.02 | -88.3% | $146M | -2.4% |
| Apr 24, 2025 | $0.18 | $0.18 | -0.6% | $132M | -7.1% |
| Feb 13, 2025 | $0.28 | $0.27 | -3.6% | $143M | -5.3% |
| Oct 24, 2024 | $0.26 | $0.26 | -0.8% | $143M | -4.2% |
| Jul 31, 2024 | $0.24 | $0.24 | +0.0% | $205M | +0.7% |
| May 1, 2024 | $0.18 | $0.20 | +11.1% | $196M | +2.2% |
| Feb 7, 2024 | $0.30 | $0.28 | -6.0% | $215M | +1.1% |
| Nov 2, 2023 | $0.28 | $0.31 | +10.7% | $175M | -2.2% |
KN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 18, 2026 | SHAVERS CHERYL Ldirector | Sell | 175 | $39.28 |
| Aug 18, 2026 | SHAVERS CHERYL Ldirector | Sell | 6,443 | $39.27 |
| Aug 14, 2026 | Niew Jeffreydirector, officer: President & CEO | Sell | 150,000 | $39.07 |
| Aug 14, 2026 | Niew Jeffreydirector, officer: President & CEO | Sell | 6,951 | $38.00 |
| Aug 14, 2026 | Niew Jeffreydirector, officer: President & CEO | Sell | 43,049 | $38.69 |
| Aug 13, 2026 | Anderson John S.officer: Senior Vice President & CFO | Sell | 30,000 | $39.07 |
| Aug 13, 2026 | Anderson John S.officer: Senior Vice President & CFO | Sell | 10,000 | $38.84 |
| Jul 28, 2026 | Cabrera Raymond D.officer: SVP, Chief HR Officer | Sell | 6,178 | $36.28 |
| May 29, 2026 | Giesecke Daniel J.officer: Senior Vice President & COO | Sell | 10,189 | $37.33 |
| May 29, 2026 | Giesecke Daniel J.officer: Senior Vice President & COO | Sell | 10,012 | $37.31 |
| May 14, 2026 | Cabrera Raymond D.officer: SVP, Chief HR Officer | Option | 25,210 | $16.77 |
| May 14, 2026 | Cabrera Raymond D.officer: SVP, Chief HR Officer | Tax | 17,599 | $36.62 |
| May 7, 2026 | Niew Jeffreydirector, officer: President & CEO | Option | 142,857 | $16.77 |
| May 7, 2026 | Niew Jeffreydirector, officer: President & CEO | Sell | 142,857 | $33.25 |
| Apr 30, 2026 | Bastarrica Air A. Jr.officer: Vice President, Controller | Sell | 3,623 | $30.91 |
Source: KN SEC Form 4 filings, latest Aug 18, 2026. For informational purposes only — not investment advice.
See the full KN insider & 13F page →KN research & analysis
[KN] Knowles Thesis 2026: Precision Devices MedTech Defense Specialty Compounder
Knowles Corporation (NYSE: KN), headquartered in Itasca-IL, is a Precision-Devices-MedTech-Defense-Hearables + emerging-multi-cycle-MedTech-Defense-Specialty-Capacitor-Cycle leader providing distinctive multi-cycle MedTech-Hearing-Aid-OEM-Component + emerging-Defense-Specialty-Capacitor-and-Industrial-and-Aerospace + emerging-Precision-Devices-Specialty-Audio-and-RF-Filter + emerging-Specialty-Capacitor-Cornell-Dubilier-Electronics services to substantial multi-cycle MedTech-Hearing-Aid-OEM-Customer (Sonova + Demant + WS-Audiology + GN-Store-Nord) + multi-cycle-emerging-Defense-and-Aerospace-Specialty-Capacitor-Customer + multi-cycle-emerging-Industrial-and-Aerospace-Specialty-Capacitor + multi-cycle-emerging-Precision-Devices-Specialty-Audio-and-RF-Filter-Customer + multi-cycle-emerging-MedTech-Implantable + multi-cycle-emerging-Defense-OEM-Lockheed-Martin-and-Northrop-Grumman-and-Raytheon-RTX-and-General-Dynamics-and-L3Harris customer base. The company has distinctive multi-cycle Knowles-and-Itasca-IL-and-Precision-Devices heritage: founded 1946 as Industrial-Research-Products-Founder-Hugh-Knowles + 1957-Knowles-Electronics-rename + 2014-Dover-Corp-Knowles-Corp-Spin-Off-NYSE-Listing; 2014 substantial NYSE Knowles-Corp-Spin-Off-IPO; 2015-2022 substantial multi-cycle MedTech-Hearing-Aid-and-Specialty-Capacitor-Restructure-and-Strategic-Divest (Mobile-Consumer-Audio-Compression-Divestment + 2022-substantial-Consumer-MEMS-Microphones-Divested-to-Syntiant ~$165M providing focus-on-MedTech-Hearing-Aid-and-Defense-Specialty-Capacitor); 2023 substantial Cornell-Dubilier-Electronics-acquired ($263M providing emerging-multi-cycle-Defense-Specialty-Capacitor-and-Industrial-and-Aerospace); 2024 substantial Specialty-Audio-Aftermarket-and-Specialty-Audio-Acquired (~$50-80M); multi-cycle-disciplined-MedTech-Hearing-Aid-and-Defense-Specialty-Capacitor-Bolt-on-Acquisitions; Jeffrey-Niew-CEO-since-2013 + multi-cycle-Dover-Corp-Spin-Off-heritage. FY2025 closes with selected various aggregate revenue ~$540-625M (~2-7% YoY-reflecting MedTech-Hearing-Health-and-Defense-Specialty-Capacitor-Cycle + 2023-Cornell-Dubilier-Electronics-Acquired-emerging-multi-cycle-Defense-Specialty-Capacitor-Revenue-Contribution + 2024-Specialty-Audio-Aftermarket), adjusted EBITDA ~$135-175M (~24-28% margins), adjusted EPS ~$1.05-1.50, net cash ~$45-105M (Conservative-Specialty-Capacitor-and-MedTech-OEM-Component-Model), and ~89-93M shares outstanding under President & CEO Jeffrey Niew (since-2013). The MedTech-Hearing-Aid-and-Defense-Specialty-Capacitor-and-Precision-Devices franchise deep-dive covers distinctive multi-cycle ~2,400+ employees + ~Itasca-IL-HQ + ~Suzhou-China-Penang-Malaysia-Itasca-IL-Globally-Positioned-Precision-Devices-Manufacturing-Facility, MTSA MedTech & Specialty Audio ~50-60% revenue + PD Precision-Devices ~40-50% revenue, substantial multi-cycle MedTech-Hearing-Aid-OEM-Customer (Sonova + Demant + WS-Audiology + GN-Store-Nord) + Defense-OEM-Customer (Lockheed-Martin + Northrop-Grumman + Raytheon-RTX + General-Dynamics + L3Harris + BAE-Systems), 2014-NYSE-Dover-Corp-Knowles-Corp-Spin-Off-IPO + 2022-Consumer-MEMS-Microphones-Divested-to-Syntiant + 2023-Cornell-Dubilier-Electronics-acquired + 2024-Specialty-Audio-Aftermarket-Acquired transformational-platform, emerging-multi-cycle MedTech-Hearing-Aid-and-Hearing-Health-Demand + emerging-Defense-Specialty-Capacitor-and-Industrial-and-Aerospace-Demand + emerging-Defense-Modernization-and-Replacement-Cycle + emerging-MedTech-Implantable-and-Cochlear-Implant + emerging-Specialty-Audio-Aftermarket structural-tailwinds, competing in Precision-Devices space with Sonova/Phonak-MedTech-Hearing-Aid-Customer (vertical-integration-threat), Cochlear, KEMET/Yageo, AVX/Kyocera, TDK, Murata, Vishay Intertechnology, Mersen, Eaton/Mersen/Schaffner; and private-equity-Carlyle-KKR-Blackstone-Apollo-Bain-CD&R-EQT-Veritas-Genstar-Permira-CVC-Bridgepoint-Cinven-Ardian-TPG-Vista-Insight-Hellman-and-Friedman. The Jeffrey-Niew + 2013-CEO-succession + 2014-Dover-Corp-Knowles-Corp-Spin-Off-and-2022-Consumer-MEMS-Microphones-Divested-and-2023-Cornell-Dubilier-Electronics deep-dive covers Jeffrey-Niew-CEO (since-2013, ~12+ year longtime-Knowles-CEO + Former-Knowles-Audio-Group-President + Former-Dover-Corp-veteran) expertise, multi-cycle-disciplined-MedTech-Hearing-Aid-and-Defense-Specialty-Capacitor-Bolt-on-Acquisitions discipline, no-dividend (Cash-Flow-Reinvested-in-Specialty-Capacitor-and-MedTech-M&A) + multi-cycle-emerging-share-buyback-only (~$25-100M/yr discretionary). Capital position is Conservative-Specialty-Capacitor-and-MedTech-OEM-Component-Model (Not-Rated ~Net-Cash + 2023-Cornell-Dubilier-Electronics-acquisition-financing ~0-1x leverage). At ~$14-22 per share, equity value ~$1.30-2.00B, EV ~$1.20-1.95B, providing ~12-17x EPS and ~7-12x EV/EBITDA.
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Knowles Corporation company profile
Overview
Knowles Corporation (NYSE:KN) is a specialized technology company founded in 1946 and headquartered in Itasca, Illinois. Originally established as a provider of hearing aid components, the company has evolved into a leading manufacturer of micro-acoustic solutions and precision electronic components. Following its spin-off from Dover Corporation in 2014, Knowles has undergone significant strategic transformation, divesting its consumer-focused MEMS microphone business in 2024 to concentrate on higher-margin, specialized markets including medical technology, defense, industrial applications, and emerging energy sectors.
Business
Knowles operates in the specialized electronics manufacturing industry, focusing on two primary business segments that serve niche, high-performance applications. The MedTech and Specialty Audio (MSA) segment represents approximately 45% of revenue and designs advanced acoustic solutions primarily for hearing health applications. This division manufactures balanced armature speakers - tiny, highly efficient speakers that convert electrical signals into sound waves for hearing aids and premium earphones. These components are critical because they must deliver exceptional audio quality while fitting into extremely small form factors. The segment also produces specialized microphones and audio processors for medical devices, True Wireless Stereo earbuds, and Internet of Things applications. The hearing health market benefits from strong secular trends including global aging demographics and expanding middle-class populations in developing countries. The Precision Devices (PD) segment accounts for approximately 55% of revenue and manufactures high-performance electronic components for mission-critical applications. This includes specialty capacitors - electronic components that store and release electrical energy in precise amounts, essential for power management in demanding environments like medical implants, satellite communications, and industrial equipment. The segment also produces radio frequency (RF) solutions for defense radar systems, communications equipment, and emerging applications in electric vehicles. These products require exceptional reliability and performance specifications that far exceed standard commercial-grade components, often operating in extreme temperatures, high-vibration environments, or life-critical medical applications. Both segments serve markets where product failure is not acceptable, requiring extensive testing, certification, and customization that creates significant barriers to entry and supports premium pricing.
Revenue model
Knowles generates revenue primarily through direct product sales to original equipment manufacturers (OEMs) and their contract manufacturers, with some distribution through specialized channel partners. The company's business model centers on developing highly customized, engineered solutions that command premium pricing due to their specialized nature and the high switching costs associated with changing suppliers in mission-critical applications. Revenue streams include one-time design and development fees, followed by ongoing manufacturing contracts that can span multiple years. In the MedTech segment, customers typically engage Knowles early in their product development cycle, creating sole-source relationships where Knowles becomes the exclusive supplier for specific components. The Precision Devices segment operates similarly, with long design cycles and multi-year supply agreements, particularly in defense and aerospace applications where qualification processes can take years but result in stable, long-term revenue streams. The company's margins are influenced by several key factors. Positive margin drivers include the specialized nature of products that limits competition, long-term sole-source customer relationships that reduce pricing pressure, economies of scale in manufacturing, and the ability to pass through raw material cost increases due to the critical nature of components. Margin pressures come from commodity-like applications where competition is more intense, fluctuations in raw material costs (particularly precious metals used in some components), customer inventory adjustments that can cause temporary demand volatility, and the need for continuous investment in research and development to maintain technological leadership. The company has successfully improved margins through strategic portfolio optimization, including the 2024 divestiture of its lower-margin consumer MEMS microphone business.
Competitive moat
Knowles possesses a moderate to strong competitive moat built primarily on technical expertise, customer relationships, and switching costs rather than traditional scale advantages. The company's moat stems from its deep engineering capabilities in miniaturized acoustic and electronic components, where decades of accumulated knowledge in materials science, manufacturing processes, and design optimization create significant barriers for new entrants. The strongest moat elements include sole-source supplier relationships in mission-critical applications, particularly in hearing aids where Knowles has dominant market share and decades-long customer relationships. The extensive qualification processes required in medical devices and defense applications create substantial switching costs, as customers must invest significant time and resources to validate alternative suppliers. Additionally, the company's manufacturing expertise in producing components at microscopic scales with extreme precision requirements represents a significant technical barrier. However, the moat faces several potential vulnerabilities. In some industrial and consumer applications, the company competes against larger electronics manufacturers with greater scale advantages. Technological disruption could potentially bypass Knowles' current solutions - for example, advances in semiconductor integration might eliminate the need for discrete components in some applications. The company's dependence on specific end markets also creates concentration risk, particularly in hearing aids where alternative hearing solutions or changes in healthcare reimbursement could impact demand. Furthermore, some customers, particularly larger OEMs, continuously evaluate alternative suppliers to reduce dependency, which could erode sole-source positions over time. Despite these challenges, the specialized nature of Knowles' markets and the critical performance requirements of its products provide meaningful protection against competitive threats.
Risks & safety
The company demonstrates solid financial stability with manageable risk levels, though recent strategic transitions have impacted some metrics. • Liquidity and Solvency: Strong current ratio of 2.02x and quick ratio of 1.30x indicate healthy short-term liquidity. Cash position of $102 million provides adequate working capital buffer. Debt-to-equity ratio of 0.28x represents conservative leverage levels. • Cash Generation: Positive operating cash flow of $1.3 million in Q1 2025, though free cash flow turned slightly negative at -$2.7 million due to capital investments. Full year 2024 generated strong free cash flow of $116.5 million. • Valuation Metrics: EV/EBITDA of 28.8x appears elevated, though this reflects recent business portfolio changes and should normalize as operations stabilize. Price-to-book ratio of 1.77x suggests reasonable asset valuation. • Other Considerations: Recent divestiture of consumer MEMS business eliminated a volatile revenue stream while strengthening balance sheet. Company maintains disciplined capital allocation with ongoing share repurchase program and debt reduction efforts.
Recent development
Knowles has undergone significant strategic transformation over the past few years, fundamentally reshaping its business portfolio and market focus. The most significant development was the divestiture of the Consumer MEMS Microphone business in 2024, which eliminated approximately $260 million in annual revenue but allowed management to focus on higher-margin, more specialized markets. This strategic exit removed the company's exposure to volatile consumer electronics markets, particularly smartphones, where pricing pressure and inventory fluctuations created earnings volatility. The company completed the acquisition of Cornell Dubilier in 2023, significantly expanding its Precision Devices segment and adding expertise in specialty film capacitors. This acquisition has delivered strong results, contributing to 36% revenue growth in the Precision Devices segment and providing opportunities for operational improvements and margin expansion. Management has achieved $5 million in pricing actions and expects continued margin improvements through 2025. Market diversification efforts have intensified, with particular focus on defense, medical technology, industrial automation, and emerging energy applications. The company secured a significant $75 million order in the energy sector, with $25 million expected to ship in 2026, demonstrating success in expanding beyond traditional markets. In the defense sector, Knowles has benefited from increased spending and long-term program commitments, while the MedTech segment continues to benefit from favorable demographics and expanding global access to hearing healthcare. Operational improvements have been a key focus, with management implementing cost reduction programs that delivered $28 million in annualized savings. The company has also invested in manufacturing capabilities and supply chain optimization to support growth in core segments while maintaining its commitment to returning capital to shareholders through share repurchases and debt reduction.
KN company profile · for informational purposes only — not investment advice.
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