XTRA:KBX

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Solid track record 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


Market Performance


7 Day Return

0.9%

KBX

0.9%

DE Machinery

2.4%

DE Market


1 Year Return

5.5%

KBX

-16.7%

DE Machinery

2.3%

DE Market

Return vs Industry: KBX exceeded the German Machinery industry which returned -16.7% over the past year.

Return vs Market: KBX exceeded the German Market which returned 2.3% over the past year.


Shareholder returns

KBXIndustryMarket
7 Day0.9%0.9%2.4%
30 Day-2.5%-6.2%-0.2%
90 Day-8.6%-7.6%0.6%
1 Year7.4%5.5%-14.0%-16.7%5.5%2.3%
3 Yearn/a-19.3%-25.1%18.9%8.6%
5 Yearn/a21.6%7.2%44.8%25.1%

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

Valuation

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

21.61x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: KBX (€87.47) is trading above our estimate of fair value (€66.93)

Significantly Undervalued: 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 (21.6x) compared to the Machinery industry average (14.3x).

PE vs Market: KBX is poor value based on its PE Ratio (21.6x) compared to the German market (19.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: KBX is poor value based on its PEG Ratio (3.2x)


Price to Book Ratio

PB vs Industry: KBX is overvalued based on its PB Ratio (9.2x) compared to the DE Machinery industry average (1.3x).


Next Steps

Future Growth

How is Knorr-Bremse forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

6.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KBX's forecast earnings growth (6.8% per year) is above the savings rate (0.2%).

Earnings vs Market: KBX's earnings (6.8% per year) are forecast to grow slower than the German market (12.6% per year).

High Growth Earnings: KBX's earnings are forecast to grow, but not significantly.

Revenue vs Market: KBX's revenue (3% per year) is forecast to grow slower than the German market (5% per year).

High Growth Revenue: KBX's revenue (3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: KBX's Return on Equity is forecast to be high in 3 years time (30.8%)


Next Steps

Past Performance

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

5.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: KBX's earnings have grown by 5.4% per year over the past 5 years.

Accelerating Growth: KBX's earnings growth over the past year (12%) exceeds its 5-year average (5.4% per year).

Earnings vs Industry: KBX earnings growth over the past year (12%) exceeded the Machinery industry -9.7%.


Return on Equity

High ROE: KBX's Return on Equity (41.6%) is considered outstanding.


Return on Assets

ROA vs Industry: KBX has a higher Return on Assets than the Machinery industry average last year.


Return on Capital Employed

ROCE Improving: KBX's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Knorr-Bremse's financial position?


Financial Position Analysis

Short Term Liabilities: KBX's short term assets (€4.2B) exceeds its short term liabilities (€2.7B)

Long Term Liabilities: KBX's short term assets (4.2B) exceeds its long term liabilities (2.5B)


Debt to Equity History and Analysis

Debt Level: KBX's debt to equity ratio (91.6%) is considered high

Reducing Debt: KBX's debt to equity ratio has increased from 10.7% to 91.6% over the past 5 years.

Debt Coverage: KBX's debt is well covered by operating cash flow (52%).

Interest Coverage: KBX's interest payments on its debt are well covered by EBIT (24.6x coverage).


Balance Sheet

Inventory Level: KBX has a high level of physical assets or inventory.

Debt Coverage by Assets: KBX's debt is covered by short term assets (assets are 2.782090x debt).


Next Steps

Dividend

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

2.00%

Current Dividend Yield


Dividend Yield vs Market

company2.0%marketbottom25%1.4%markettop25%3.9%industryaverage2.4%forecastin3Years2.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: KBX's dividend (2%) is higher than the bottom 25% of dividend payers in the German market (1.43%).

High Dividend: KBX's dividend (2%) is low compared to the top 25% of dividend payers in the German market (3.86%).

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 reasonably low payout ratio (43.2%), KBX's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: KBX's dividends in 3 years are forecast to be well covered by earnings (49.8% payout ratio).


Next Steps

Management

What is the CEO of Knorr-Bremse's salary, the management and board of directors tenure and is there insider trading?

2.8yrs

Average management tenure


CEO

Knorr-Bremse has no CEO, or we have no data on them.


Management Age and Tenure

2.8yrs

Average Tenure

51yo

Average Age

Experienced Management: KBX's management team is considered experienced (2.8 years average tenure).


Board Age and Tenure

4.4yrs

Average Tenure

73.5yo

Average Age

Experienced Board: KBX's board of directors are considered experienced (4.4 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Ralph Heuwing (53yo)

    CFO & Member of Executive Board

    • Tenure: 1.9yrs
  • Peter Laier (51yo)

    Member of Executive Board

    • Tenure: 3.8yrs
  • Franz-Josef Birkeneder

    First Deputy Chairman of the Supervisory Board & Plant Manager Aldersbach

    • Tenure: 3.6yrs
  • Andreas Spitzauer

    Head of Investor Relations

    • Tenure: 0yrs
  • Jürgen Wilder (48yo)

    Member of Executive Board

    • Tenure: 1.1yrs
  • Alexandra Bufe

    Head of Corporate Communications

    • Tenure: 0yrs

Board Members

  • Heinz Hermann Thiele (78yo)

    Honorary Chairman of the Supervisory Board

    • Tenure: 0yrs
  • Klaus Mangold (76yo)

    Chairman of Supervisory Board

    • Tenure: 1.1yrs
  • Wolfram Mörsdorf (71yo)

    Member of the Supervisory Board

    • Tenure: 0yrs
  • Werner Ratzisberger

    Employee Representative Member of the Supervisory Board

    • Tenure: 12.9yrs
  • Kathrin Dahnke (58yo)

    Second Deputy Chair of Supervisory Board

    • Tenure: 1.3yrs
  • Günter Wiese

    Employee Representative Member of the Supervisory Board

    • Tenure: 3.8yrs
  • Georg Weiberg

    Member of the Supervisory Board

    • Tenure: 5.9yrs
  • Erich Starkl

    Employee Representative Member of the Supervisory Board

    • Tenure: 5.6yrs
  • Michael Jell

    Employee Representative Member of the Supervisory Board

    • Tenure: 5.1yrs
  • Franz-Josef Birkeneder

    First Deputy Chairman of the Supervisory Board & Plant Manager Aldersbach

    • Tenure: 3.6yrs

Company Information

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


Key Information

  • Name: Knorr-Bremse Aktiengesellschaft
  • Ticker: KBX
  • Exchange: XTRA
  • Founded:
  • Industry: Construction Machinery and Heavy Trucks
  • Sector: Capital Goods
  • Market Cap: €14.100b
  • 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
KNRR.YOTCPK (Pink Sheets LLC)UNSPONSRED ADSUSUSDJan 2019

Biography

Knorr-Bremse Aktiengesellschaft develops, produces, markets, and services braking systems for rail and commercial vehicles worldwide. The company also provides entrance systems, HVAC systems, control compo ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 22:13
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.