KBX Stock Analysis: Knorr-Bremse | XETRA
Auto Parts | XETRA, Germany | Market Cap: 15.765m EUR | 12M Return: 27.9% | DE000KBX1006 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 14.7M
EPS Trend: -9.9%
Qual. Beats: 0
Rev. Trend: -32.6%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 8 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Knorr-Bremse AG, founded in 1905 and headquartered in Munich, Germany, is a global manufacturer of braking and safety-critical systems operating through two segments: Rail Vehicle Systems and Commercial Vehicle Systems. The rail segment supplies braking, entrance, HVAC, coupling, signaling, and digital/RCC-TCMS systems, alongside aftermarket services, while the commercial vehicle segment provides pneumatic braking systems, steering systems, driver assistance and automated driving solutions, energy supply components, and engine/transmission control products for trucks, buses, trailers, and agricultural machinery. The company also offers leasing, logistics, and IT services, and operates as a subsidiary of KB Holding GmbH.
The rail brake systems market is characterized by high regulatory and certification barriers, which tend to favor established suppliers and support recurring aftermarket revenue across long product lifecycles. As a leading global supplier in this space, Knorr-Bremse derives a meaningful share of its earnings from rail aftermarket and service activities, complementing its original equipment business in both rail and commercial vehicles.
- China commercial vehicle demand weakness pressures CV Systems revenue
- Rail aftermarket services expand higher-margin recurring revenue base
- European truck production cycle recovery lifts braking equipment orders
| Net Income: 585.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA -0.27 > 1.0 |
| NWC/Revenue: 23.95% < 20% (prev 26.09%; Δ -2.14% < -1%) |
| CFO/TA 0.13 > 3% & CFO 1.19b > Net Income 585.0m |
| Net Debt (1.97b) to EBITDA (1.36b): 1.44 < 3 |
| Current Ratio: 1.63 > 1.5 & < 3 |
| Outstanding Shares: last quarter (160.1m) vs 12m ago -0.66% < -2% |
| Gross Margin: 14.58% > 18% (prev 46.45%; Δ -31.87% > 0.5%) |
| Asset Turnover: 88.15% > 50% (prev 91.39%; Δ -3.23% > 0%) |
| Interest Coverage Ratio: 9.33 > 6 (EBIT TTM 970.0m / Interest Expense TTM 104.0m) |
| A: 0.20 (Total Current Assets 4.93b - Total Current Liabilities 3.03b) / Total Assets 9.47b |
| B: 0.34 (Retained Earnings 3.26b / Total Assets 9.47b) |
| C: 0.11 (EBIT TTM 970.0m / Avg Total Assets 9.03b) |
| D: 0.52 (Book Value of Equity 3.20b / Total Liabilities 6.17b) |
| Altman-Z'' = 3.71 = AA |
| DSRI: 1.03 (Receivables 1.80b/1.73b, Revenue 7.96b/7.85b) |
| GMI: 3.19 (GM 46.45% / 14.58%) |
| AQI: 1.12 (AQ_t 0.28 / AQ_t-1 0.25) |
| SGI: 1.01 (Revenue 7.96b / 7.85b) |
| TATA: -0.06 (NI 585.0m - CFO 1.19b) / TA 9.47b) |
| Beneish M = -0.95 (Cap -4..+1) = D |
As of October 15, 2026, the stock is trading at EUR 99.60 with a total of 138,921 shares traded. Over the past week, the price has changed by -0.40%, over one month by -0.80%, over three months by -0.70% and over the past year by +27.89%.
Current recommended Stop Loss: 96.40 (which is 3.2% or 1.3 ATR below the current price).
Knorr-Bremse has no consensus analysts rating.
P/E Trailing = 26.8681
P/E Forward = 20.0401
P/S = 1.9633
P/B = 5.3246
Revenue TTM = 7.96b EUR
EBIT TTM = 970.0m EUR
EBITDA TTM = 1.36b EUR
Long Term Debt = 1.98b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 729.0m EUR (from shortTermDebt, last quarter)
Debt = 3.19b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.97b EUR (calculated: Debt 3.19b - CCE 1.22b)
Enterprise Value = 17.7b EUR (15.8b + Debt 3.19b - CCE 1.22b)
Interest Coverage Ratio = 9.33 (Ebit TTM 970.0m / Interest Expense TTM 104.0m)
EV/FCF = 18.97x (Enterprise Value 17.7b / FCF TTM 935.0m)
FCF Yield = 5.27% (FCF TTM 935.0m / Enterprise Value 17.7b)
FCF Margin = 11.75% (FCF TTM 935.0m / Revenue TTM 7.96b)
Net Margin = 7.35% (Net Income TTM 585.0m / Revenue TTM 7.96b)
Gross Margin = 14.58% ((Revenue TTM 7.96b - Cost of Revenue TTM 6.80b) / Revenue TTM)
Gross Margin QoQ = 54.44% (prev 23.59%)
Tobins Q-Ratio = 1.87 (Enterprise Value 17.7b / Total Assets 9.47b)
Interest Expense / Debt = 3.26% (Interest Expense 104.0m / Debt 3.19b)
Taxrate = 29.83% (264.0m / 885.0m)
NOPAT = 680.6m (EBIT 970.0m * (1 - 29.83%))
Current Ratio = 1.63 (Total Current Assets 4.93b / Total Current Liabilities 3.03b)
Debt / Equity = 1.00 (Debt 3.19b / totalStockholderEquity, last quarter 3.20b)
Debt / EBITDA = 1.44 (Net Debt 1.97b / EBITDA 1.36b)
Debt / FCF = 2.10 (Net Debt 1.97b / FCF TTM 935.0m)
Total Stockholder Equity = 3.16b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.48% (Net Income 585.0m / Total Assets 9.47b)
RoE = 18.54% (Net Income TTM 585.0m / Total Stockholder Equity 3.16b)
RoCE = 18.90% (EBIT 970.0m / Capital Employed (Equity 3.16b + L.T.Debt 1.98b))
RoIC = 10.05% (NOPAT 680.6m / Invested Capital 6.77b)
WACC = 6.10% (E(15.8b)/V(19.0b) * Re(6.87%) + D(3.19b)/V(19.0b) * Rd(3.26%) * (1-Tc(0.30)))
Discount Rate = 6.87% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 21.25 | Cagr: -0.47%
[DCF] Terminal Value 76.34% ; FCFF base≈909.8m ; Y1≈968.2m ; Y5≈1.15b
[DCF] Fair Price = 97.61 (EV 17.7b - Net Debt 1.97b = Equity 15.7b / Shares 161.2m; r=8.35% [WACC [floored]]; 5y FCF grow 7.21% → 2.50% )
EPS Correlation: -9.91 | EPS CAGR: -1.61% | SUE: -0.37 | # QB: 0
Revenue Correlation: -32.59 | Revenue CAGR: -0.34% | SUE: 1.59 | # QB: 1
EPS current Quarter (2026-09-30): EPS=1.23 | Chg30d=+0.90% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=4.68 | Chg30d=-0.95% | Revisions=+25% | GrowthEPS=+23.1% | GrowthRev=+6.3%
EPS next Year (2027-12-31): EPS=5.42 | Chg30d=-0.01% | Revisions=+25% | GrowthEPS=+15.7% | GrowthRev=+5.6%
[Analyst] Revisions Ratio: +50% (up=3, down=0)