KBX Stock Analysis: Knorr-Bremse | XETRA
Auto Parts | XETRA, Germany | Market Cap: 16.571m EUR | 12M Return: 17.6% | DE000KBX1006 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 14.1M
EPS Trend: -9.9%
Qual. Beats: 0
Rev. Trend: -32.6%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 7.8 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 is a Germany-based manufacturer of brake systems and other safety-critical systems for rail and commercial vehicles, headquartered in Munich and founded in 1905. The company operates through two main segments: Rail Vehicle Systems and Commercial Vehicle Systems, and is controlled by KB Holding GmbH.
The Rail Vehicle Systems segment supplies braking systems alongside entrance, HVAC, sanitary, coupling, signaling, power electrics, and digital/smart-service solutions for optimizing rail traffic, supported by an extensive aftermarket offering. The Commercial Vehicle Systems segment provides pneumatic braking systems (including ABS and electronic stability programs), steering systems, driver assistance and automated driving solutions, air treatment products, and engine and transmission control components for trucks, buses, trailers, and agricultural machinery. The company also offers ancillary leasing, logistics, and IT/media services.
Braking and safety-critical systems for rail and commercial vehicles are subject to stringent type-approval and certification regimes, which create high barriers to entry and reinforce long product lifecycles backed by recurring service and aftermarket revenue. Within the GICS classification, Knorr-Bremse sits in the Automotive Parts & Equipment sub-industry of Consumer Discretionary, reflecting its commercial-vehicle exposure, even though rail equipment historically accounts for a meaningful share of group sales.
- Rail systems revenue hinges on China OE orders and global infrastructure spending
- Commercial vehicle segment tracks European and US truck production cycles
- Aftermarket services cushion margins amid OEM order volatility
- Capital returns supported by dividends and disciplined balance sheet management
| 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 August 27, 2026, the stock is trading at EUR 106.10 with a total of 162,935 shares traded. Over the past week, the price has changed by +5.90%, over one month by -1.79%, over three months by +2.66% and over the past year by +17.61%.
Current recommended Stop Loss: 103.00 (which is 2.9% or 1.3 ATR below the current price).
Knorr-Bremse has no consensus analysts rating.
P/E Trailing = 28.2418
P/E Forward = 20.0401
P/S = 2.0637
P/B = 5.1786
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 = 18.5b EUR (16.6b + Debt 3.19b - CCE 1.22b)
Interest Coverage Ratio = 9.33 (Ebit TTM 970.0m / Interest Expense TTM 104.0m)
EV/FCF = 19.83x (Enterprise Value 18.5b / FCF TTM 935.0m)
FCF Yield = 5.04% (FCF TTM 935.0m / Enterprise Value 18.5b)
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 = 1.96 (Enterprise Value 18.5b / 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 = 6.22% (E(16.6b)/V(19.8b) * Re(6.98%) + D(3.19b)/V(19.8b) * Rd(3.26%) * (1-Tc(0.30)))
Discount Rate = 6.98% (= 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=1.22 | Chg30d=+2.94% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=4.72 | Chg30d=+1.82% | Revisions=+62% | GrowthEPS=+24.3% | GrowthRev=+6.4%
EPS next Year (2027-12-31): EPS=5.42 | Chg30d=+0.60% | Revisions=+10% | GrowthEPS=+14.6% | GrowthRev=+5.6%
[Analyst] Revisions Ratio: +44% (up=10, down=3)