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Kuehne + Nagel International AG KNIN

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Stock XSWX Rating as of
CHF 267.70 −0.60 (0.22%)
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As of Delayed Price Closed
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Company Report

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Kuehne+Nagel Earnings: A Return to Revenue Growth

Benjamin Slupecki

Results were a mixed bag for narrow-moat Kuehne+Nagel. After a decline in revenue in the first quarter, revenue rose 1% in the second quarter, driven by disruptions in the Red Sea and a recovery in demand for air freight. On a negative note, earnings did not grow in line with revenue, falling 25% year over year, highlighting the downside of the operating leverage inherent in the business. We reiterate our CHF 220 fair value estimate and see shares as overvalued currently.

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Price vs Fair Value

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KNIN is trading at a 156% premium.
Price
CHF 267.70
Fair Value
CHF 283.00
Uncertainty
Medium
1-Star Price
CHF 361.00
5-Star Price
CHF 523.00
Economic Moat
Lftllyy
Capital Allocation
Lmhqsgvt

Bulls Say, Bears Say

Bulls

KN has been in existence for more than 130 years and controls around 20% of global sea freight.

Bears

Sporadic supply gluts among air and ocean cargo carriers add volatility to KN's buy-and-sell rates.

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News

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Trading Information

Previous Close Price
CHF 268.30
Day Range
CHF 266.30–269.60
52-Week Range
CHF 234.50–301.90
Bid/Ask
CHF 265.00 / CHF 270.00
Market Cap
CHF 31.67 Bil
Volume/Avg
101,024 / 189,697

Key Statistics

Price/Earnings (Normalized)
27.03
Price/Sales
1.40
Dividend Yield (Trailing)
3.74%
Dividend Yield (Forward)
3.74%
Total Yield
4.46%

Company Profile

Kuehne + Nagel is a global transportation and logistics company based in Switzerland and founded in 1890. KN is the largest sea freight forwarder globally, and holds the number-two spot in air freight. Sea freight has traditionally constituted the largest part of the business, contributing almost half of group revenue in 2022. The company's goal is to become a more balanced, fully integrated freight forwarder while continually improving its end-to-end offering to its clients.
Sector
Industrials
Industry
Integrated Freight & Logistics
Stock Style Box
Large Value
Total Number of Employees
94,251
Website
http://www.kuehne-nagel.com

Competitors

Valuation

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Metric
KNIN
EXPD
CHRW
Price/Earnings (Normalized)
 27.0323.4728.86
Price/Book Value
 12.357.987.32
Price/Sales
 1.402.050.62
Price/Cash Flow
 17.0422.5323.36
Price/Earnings
KNIN
EXPD
CHRW

Financial Strength

Metric
KNIN
EXPD
CHRW
Quick Ratio
 0.831.611.30
Current Ratio
 0.871.851.37
Interest Coverage
 35.84—18.50
Quick Ratio
KNIN
EXPD
CHRW

Profitability

Metric
KNIN
EXPD
CHRW
Return on Assets (Normalized)
 10.42%15.73%6.56%
Return on Equity (Normalized)
 39.48%28.92%25.22%
Return on Invested Capital (Normalized)
 24.01%22.39%10.70%
Return on Assets
KNIN
EXPD
CHRW
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