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KONE Oyj Class B KNEBV

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Stock XHEL Rating as of
€46.92 +0.02 (0.04%)
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Company Report

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Elevator Modernization Orders Continue To Grow at Pace for Kone in Early 2024

Grant Slade

Kone is a global top-four elevator and escalator original equipment manufacturer. Its operations are integrated across manufacturing and installation activities, while also spanning E&E servicing for existing installations. Kone also performs elevator modernization services for elevator systems that have come to the end of their useful lives, which is typically 15-20 years. Active in all major geographies, Kone has an approximate 15% share of the estimated $80 billion global E&E market.

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Price vs Fair Value

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KNEBV is trading at a 145% premium.
Price
€46.90
Fair Value
€99.00
Uncertainty
Low
1-Star Price
€83.00
5-Star Price
€66.20
Economic Moat
Wst
Capital Allocation
Bkrthztj

Bulls Say, Bears Say

Bulls

Kone has an installed-base business model that delivers strong and steady free cash flow generation thanks to the third-largest elevator service portfolio.

Bears

Global new elevator installations have likely peaked structurally as the rate of urbanization in the Asia-Pacific (ex-Southeast Asia) region slows.

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Trading Information

Previous Close Price
€46.90
Day Range
€46.82–47.03
52-Week Range
€37.20–51.38
Bid/Ask
€46.92 / €46.94
Market Cap
€24.28 Bil
Volume/Avg
17,762 / 645,190

Key Statistics

Price/Earnings (Normalized)
21.94
Price/Sales
2.22
Dividend Yield (Trailing)
3.73%
Dividend Yield (Forward)
3.73%
Total Yield
3.71%

Company Profile

Kone is a global top-four supplier of elevators and escalators. Kone began producing elevators in Finland in 1918 and today generates revenue in three ways: selling new elevators and escalators, modernizing old equipment, and servicing its installed base. Most of the company's profit comes from the last activity, where contracts are rolled over annually with built-in price increases. The bulk of Kone's business is in elevators, which are more numerous globally than escalators. Its business model is similar to its closest competitors Otis, Schindler, and TK Elevator.
Sector
Industrials
Industry
Specialty Industrial Machinery
Stock Style Box
Large Core
Total Number of Employees
63,647
Website
https://www.kone.com

Competitors

Valuation

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Metric
KNEBV
OTIS
SCHN
Price/Earnings (Normalized)
 21.9426.6631.07
Price/Book Value
 11.80—5.60
Price/Sales
 2.222.782.15
Price/Cash Flow
 20.9523.6218.77
Price/Earnings
KNEBV
OTIS
SCHN

Financial Strength

Metric
KNEBV
OTIS
SCHN
Quick Ratio
 0.690.850.40
Current Ratio
 0.980.991.30
Interest Coverage
 56.0414.5434.88
Quick Ratio
KNEBV
OTIS
SCHN

Profitability

Metric
KNEBV
OTIS
SCHN
Return on Assets (Normalized)
 10.76%14.60%8.05%
Return on Equity (Normalized)
 37.70%—21.69%
Return on Invested Capital (Normalized)
 30.10%59.74%18.27%
Return on Assets
KNEBV
OTIS
SCHN
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Specialty Industrial Machinery Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Siemens AG ADR
SIEGY
YqhvkhqkjMjkqg$146.6 Bil
 Eaton Corp PLC
ETN
DyqzzplcFprvrxh$127.6 Bil
 Illinois Tool Works Inc
ITW
DhqknvrddPvdqkgg$71.4 Bil
 Parker Hannifin Corp
PH
HkckqcwyFwbjyj$67.6 Bil
 Emerson Electric Co
EMR
VthkysmbGsh$61.6 Bil
 Otis Worldwide Corp Ordinary Shares
OTIS
JkcqztwyVtty$39.0 Bil
 Cummins Inc
CMI
JgnshthvKtrckt$37.2 Bil
 Ingersoll Rand Inc
IR
HykqmvdvLszbg$36.9 Bil
 Xylem Inc
XYL
ZtgncrqgTkykjp$33.6 Bil
 Rockwell Automation Inc
ROK
YyjdwsbjHctsj$29.1 Bil

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