WBAG:KBX

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Executive Summary

Knorr-Bremse Aktiengesellschaft develops, produces, markets, and services braking and other systems for rail and commercial vehicles worldwide.


Snowflake Analysis

High growth potential with adequate balance sheet.


Similar Companies

Share Price & News

How has Knorr-Bremse's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: KBX has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.9%

KBX

1.9%

AT Machinery

1.3%

AT Market


1 Year Return

-1.6%

KBX

-2.0%

AT Machinery

-20.5%

AT Market

Return vs Industry: KBX matched the Austrian Machinery industry which returned -2% over the past year.

Return vs Market: KBX exceeded the Austrian Market which returned -20.5% over the past year.


Shareholder returns

KBXIndustryMarket
7 Day1.9%1.9%1.3%
30 Day-6.3%-5.4%-7.5%
90 Day13.8%15.2%3.6%
1 Year0.4%-1.6%-0.8%-2.0%-19.6%-20.5%
3 Yearn/a-38.1%-42.4%-14.4%-21.0%
5 Yearn/a-31.6%-39.8%15.9%1.2%

Price Volatility Vs. Market

How volatile is Knorr-Bremse's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Knorr-Bremse undervalued compared to its fair value and its price relative to the market?

27.39x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: KBX (€91.68) is trading above our estimate of fair value (€74.21)

Significantly Below Fair Value: KBX is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: KBX is poor value based on its PE Ratio (27.4x) compared to the Machinery industry average (15.8x).

PE vs Market: KBX is poor value based on its PE Ratio (27.4x) compared to the Austrian market (11x).


Price to Earnings Growth Ratio

PEG Ratio: KBX is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: KBX is overvalued based on its PB Ratio (8x) compared to the AT Machinery industry average (1.1x).


Next Steps

Future Growth

How is Knorr-Bremse forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

23.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KBX's forecast earnings growth (23.4% per year) is above the savings rate (0.5%).

Earnings vs Market: KBX's earnings (23.4% per year) are forecast to grow faster than the Austrian market (22% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: KBX's revenue (7.2% per year) is forecast to grow faster than the Austrian market (3.3% per year).

High Growth Revenue: KBX's revenue (7.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KBX's Return on Equity is forecast to be high in 3 years time (27.5%)


Next Steps

Past Performance

How has Knorr-Bremse performed over the past 5 years?

2.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KBX has high quality earnings.

Growing Profit Margin: KBX's current net profit margins (7.8%) are lower than last year (9.2%).


Past Earnings Growth Analysis

Earnings Trend: KBX's earnings have grown by 2.5% per year over the past 5 years.

Accelerating Growth: KBX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: KBX had negative earnings growth (-14%) over the past year, making it difficult to compare to the Machinery industry average (-10.9%).


Return on Equity

High ROE: KBX's Return on Equity (29.3%) is considered high.


Next Steps

Financial Health

How is Knorr-Bremse's financial position?


Financial Position Analysis

Short Term Liabilities: KBX's short term assets (€4.6B) exceed its short term liabilities (€2.8B).

Long Term Liabilities: KBX's short term assets (€4.6B) exceed its long term liabilities (€2.4B).


Debt to Equity History and Analysis

Debt Level: KBX's debt to equity ratio (80.3%) is considered high.

Reducing Debt: KBX's debt to equity ratio has increased from 9.7% to 80.3% over the past 5 years.

Debt Coverage: KBX's debt is well covered by operating cash flow (56.4%).

Interest Coverage: KBX's interest payments on its debt are well covered by EBIT (22.7x coverage).


Balance Sheet


Next Steps

Dividend

What is Knorr-Bremse current dividend yield, its reliability and sustainability?

1.96%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: KBX's dividend (1.96%) is higher than the bottom 25% of dividend payers in the Austrian market (1.67%).

High Dividend: KBX's dividend (1.96%) is low compared to the top 25% of dividend payers in the Austrian market (5.01%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether KBX's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if KBX's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (53.7%), KBX's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: KBX's dividends in 3 years are forecast to be well covered by earnings (46.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.1yrs

Average management tenure


CEO

Bernd Eulitz

0.67

Tenure

€1,478,000

Compensation

Mr. Bernd Eulitz serves as Chairman of the Management Board, Chief Executive Officer, Director of Employment Relations and Member of the Management Board at Knorr-Bremse Aktiengesellschaft since November 0 ...


CEO Compensation Analysis

Compensation vs Market: Bernd's total compensation ($USD1.67M) is below average for companies of similar size in the Austrian market ($USD3.97M).

Compensation vs Earnings: Insufficient data to compare Bernd's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Bernd Eulitz
Chairman of Management Board0.67yr€1.48mno data
Franz-Josef Birkeneder
First Deputy Chairman of the Supervisory Board & Plant Manager Aldersbach4.33yrs€160.00kno data
Peter Laier
Member of Executive Board4.5yrs€2.43mno data
Jürgen Wilder
Member of Executive Board1.83yrs€2.32mno data
Andreas Spitzauer
Head of Investor Relationsno datano datano data
Alexandra Bufe
Head of Corporate Communicationsno datano datano data

3.1yrs

Average Tenure

Experienced Management: KBX's management team is considered experienced (3.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Franz-Josef Birkeneder
First Deputy Chairman of the Supervisory Board & Plant Manager Aldersbach4.33yrs€160.00kno data
Heinz Hermann Thiele
Honorary Chairman of the Supervisory Boardno datano datano data
Klaus Mangold
Chairman of Supervisory Board1.83yrs€330.00kno data
Werner Ratzisberger
Employee Representative Member of the Supervisory Board13.67yrs€125.00kno data
Kathrin Dahnke
Second Deputy Chair of Supervisory Board2yrs€200.00kno data
Günter Wiese
Employee Representative Member of the Supervisory Board4.5yrs€105.00kno data
Erich Starkl
Employee Representative Member of the Supervisory Board6.33yrs€80.00kno data
Michael Jell
Employee Representative Member of the Supervisory Board5.83yrs€125.00kno data
Julia Thiele-Schürhoff
Member of the Supervisory Board4.33yrs€80.00kno data
Annemarie Sedlmair
Member of the Supervisory Board1.25yrs€60.00kno data

4.3yrs

Average Tenure

77yo

Average Age

Experienced Board: KBX's board of directors are considered experienced (4.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Knorr-Bremse Aktiengesellschaft's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Knorr-Bremse Aktiengesellschaft
  • Ticker: KBX
  • Exchange: WBAG
  • Founded:
  • Industry: Construction Machinery and Heavy Trucks
  • Sector: Capital Goods
  • Market Cap: €14.788b
  • Shares outstanding: 161.20m
  • Website: https://www.knorr-bremse.com

Number of Employees


Location

  • Knorr-Bremse Aktiengesellschaft
  • Moosacher Strasse 80
  • Munich
  • Bavaria
  • 80809
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KBXDB (Deutsche Boerse AG)YesBearer SharesDEEUROct 2018
KBXXTRA (XETRA Trading Platform)YesBearer SharesDEEUROct 2018
KBXWBAG (Wiener Boerse AG)YesBearer SharesATEUROct 2018
KBXDBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEUROct 2018
0KBILSE (London Stock Exchange)YesBearer SharesGBEUROct 2018
KBXSWX (SIX Swiss Exchange)YesBearer SharesCHCHFOct 2018
KNBH.FOTCPK (Pink Sheets LLC)YesBearer SharesUSUSDOct 2018
KBXETLX (Eurotlx)YesBearer SharesITEUROct 2018
KNRR.YOTCPK (Pink Sheets LLC)UNSPONSRED ADSUSUSDJan 2019
KBXADB (Deutsche Boerse AG)UNSPONSRED ADSDEEURJan 2019

Biography

Knorr-Bremse Aktiengesellschaft develops, produces, markets, and services braking and other systems for rail and commercial vehicles worldwide. It offers intelligence entrance, HVAC, auxiliary power supply, control component and windscreen wiper, and driver assistance systems, as well as platform screen doors, friction materials, and control technology products for mass transit and long distance rail vehicles. The company also provides electronic brake controls, as well as driver assistance, air supply, and powertrain systems for trucks, buses, trailers, and agricultural machinery. In addition, it offers leasing, holding, logistics, and media and IT services. The company is headquartered in Munich, Germany. Knorr-Bremse Aktiengesellschaft is a subsidiary of KB Holding GmbH. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/09 21:29
End of Day Share Price2020/07/09 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.