(KBX) Knorr-Bremse - Overview
Sector: Consumer Cyclical | Industry: Auto Parts | Exchange: XETRA (Germany) | Market Cap: 16.064m EUR | Total Return: 13.9% in 12m
Avg Turnover: 20.7M
EPS Trend: -22.1%
Qual. Beats: 0
Rev. Trend: -3.6%
Qual. Beats: -1
Warnings
Beneish M-Score -1.33 > -1.5 - likely earnings manipulation
Below Avwap Earnings
Tailwinds
No distinct edge detected
Knorr-Bremse AG is a Munich-based manufacturer specializing in safety-critical subsystems for the global rail and commercial vehicle industries. The company operates through two primary segments: Rail Vehicle Systems and Commercial Vehicle Systems, providing essential components including braking systems, steering, driver assistance technology, and automated driving solutions. Founded in 1905, it serves as a subsidiary of KB Holding GmbH and maintains a significant presence in the aftermarket and digital services sectors.
The business model relies on high barriers to entry due to the safety-critical nature of its products and stringent regulatory requirements in the transportation industry. As an original equipment manufacturer (OEM), Knorr-Bremse benefits from a large installed base that generates recurring revenue through long-term maintenance, repair, and overhaul contracts. Investors can explore deeper financial metrics and valuation trends for KBX on ValueRay.
The Automotive Parts & Equipment sector is currently characterized by a shift toward electrification and autonomous driving, requiring heavy R&D investment in electronic leveling and vehicle dynamics. Knorr-Bremse addresses these trends by integrating power electrics and signaling systems into its rail portfolio while developing advanced transmission and air management controls for commercial trucks and agricultural machinery.
- Global rail infrastructure spending cycles dictate long-term order book and revenue growth
- Commercial vehicle production volumes in China and Europe impact short-term earnings
- High-margin aftermarket services provide defensive cash flow during economic downturns
- Expansion of autonomous driving and safety regulations increases content per vehicle
- High energy and raw material costs pressure manufacturing margins in European facilities
| Net Income: 552.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA -0.52 > 1.0 |
| NWC/Revenue: 26.41% < 20% (prev 28.65%; Δ -2.24% < -1%) |
| CFO/TA 0.11 > 3% & CFO 1.06b > Net Income 552.0m |
| Net Debt (1.93b) to EBITDA (1.30b): 1.48 < 3 |
| Current Ratio: 1.72 > 1.5 & < 3 |
| Outstanding Shares: last quarter (161.2m) vs 12m ago 0.30% < -2% |
| Gross Margin: 13.76% > 18% (prev 0.38%; Δ 1.34k% > 0.5%) |
| Asset Turnover: 81.38% > 50% (prev 80.79%; Δ 0.58% > 0%) |
| Interest Coverage Ratio: 8.66 > 6 (EBITDA TTM 1.30b / Interest Expense TTM 106.0m) |
| A: 0.22 (Total Current Assets 4.93b - Total Current Liabilities 2.87b) / Total Assets 9.42b |
| B: 0.36 (Retained Earnings 3.40b / Total Assets 9.42b) |
| C: 0.10 (EBIT TTM 918.0m / Avg Total Assets 9.58b) |
| D: 0.54 (Book Value of Equity 3.27b / Total Liabilities 6.05b) |
| Altman-Z'' = 3.82 = AA |
| DSRI: 1.01 (Receivables 1.80b/1.79b, Revenue 7.80b/7.87b) |
| GMI: 2.78 (GM 13.76% / 38.26%) |
| AQI: 1.23 (AQ_t 0.28 / AQ_t-1 0.23) |
| SGI: 0.99 (Revenue 7.80b / 7.87b) |
| TATA: -0.05 (NI 552.0m - CFO 1.06b) / TA 9.42b) |
| Beneish M = -1.33 (Cap -4..+1) = D |
As of May 25, 2026, the stock is trading at EUR 99.65 with a total of 167,539 shares traded.
Over the past week, the price has changed by -2.40%,
over one month by +2.48%,
over three months by -10.98% and
over the past year by +13.91%.
Knorr-Bremse has no consensus analysts rating.
P/E Trailing = 37.0446
P/E Forward = 20.0401
P/S = 2.0365
P/B = 5.3538
Revenue TTM = 7.80b EUR
EBIT TTM = 918.0m EUR
EBITDA TTM = 1.30b EUR
Long Term Debt = 1.98b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 702.0m EUR (from shortTermDebt, last quarter)
Debt = 3.20b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.93b EUR (calculated: Debt 3.20b - CCE 1.26b)
Enterprise Value = 18.0b EUR (16.1b + Debt 3.20b - CCE 1.26b)
Interest Coverage Ratio = 8.66 (Ebit TTM 918.0m / Interest Expense TTM 106.0m)
EV/FCF = 22.58x (Enterprise Value 18.0b / FCF TTM 797.0m)
FCF Yield = 4.43% (FCF TTM 797.0m / Enterprise Value 18.0b)
FCF Margin = 10.22% (FCF TTM 797.0m / Revenue TTM 7.80b)
Net Margin = 7.08% (Net Income TTM 552.0m / Revenue TTM 7.80b)
Gross Margin = 13.76% ((Revenue TTM 7.80b - Cost of Revenue TTM 6.72b) / Revenue TTM)
Gross Margin QoQ = 23.59% (prev -45.72%)
Tobins Q-Ratio = 1.91 (Enterprise Value 18.0b / Total Assets 9.42b)
Interest Expense / Debt = 3.31% (Interest Expense 106.0m / Debt 3.20b)
Taxrate = 26.27% (57.0m / 217.0m)
NOPAT = 676.9m (EBIT 918.0m * (1 - 26.27%))
Current Ratio = 1.72 (Total Current Assets 4.93b / Total Current Liabilities 2.87b)
Debt / Equity = 0.97 (Debt 3.20b / totalStockholderEquity, last quarter 3.29b)
Debt / EBITDA = 1.48 (Net Debt 1.93b / EBITDA 1.30b)
Debt / FCF = 2.43 (Net Debt 1.93b / FCF TTM 797.0m)
Total Stockholder Equity = 3.07b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.76% (Net Income 552.0m / Total Assets 9.42b)
RoE = 17.95% (Net Income TTM 552.0m / Total Stockholder Equity 3.07b)
RoCE = 18.17% (EBIT 918.0m / Capital Employed (Equity 3.07b + L.T.Debt 1.98b))
RoIC = 9.33% (NOPAT 676.9m / Invested Capital 7.25b)
WACC = 7.04% (E(16.1b)/V(19.3b) * Re(7.96%) + D(3.20b)/V(19.3b) * Rd(3.31%) * (1-Tc(0.26)))
Discount Rate = 7.96% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 0.0 | Cagr: 0.0%
[DCF] Terminal Value 74.15% ; FCFF base≈827.9m ; Y1≈769.6m ; Y5≈698.6m
[DCF] Fair Price = 56.59 (EV 11.1b - Net Debt 1.93b = Equity 9.12b / Shares 161.2m; r=8.35% [WACC [floored]]; 5y FCF grow -8.85% → 2.50% )
EPS Correlation: -22.11 | EPS CAGR: -3.42% | SUE: -0.37 | # QB: 0
Revenue Correlation: -3.55 | Revenue CAGR: -0.05% | SUE: -1.83 | # QB: -1
EPS current Quarter (2026-06-30): EPS=1.21 | Chg30d=+1.89% | Revisions=+20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=1.19 | Chg30d=+1.13% | Revisions=+20% | Analysts=1
EPS current Year (2026-12-31): EPS=4.61 | Chg30d=+1.31% | Revisions=+0% | GrowthEPS=+21.3% | GrowthRev=+5.4%
EPS next Year (2027-12-31): EPS=5.34 | Chg30d=+0.97% | Revisions=+0% | GrowthEPS=+15.9% | GrowthRev=+6.2%
[Analyst] Revisions Ratio: +20%