Kuehne + Nagel International AG (KNIN) AI Stock Analysis

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Kuehne + Nagel International AG

(KNIN)

Rating:77Outperform

Price Target:

CHF213.00

▲(15.29%Upside)

Kuehne + Nagel International AG demonstrates a strong overall performance, driven by solid financial metrics and positive earnings call highlights. The company's valuation is attractive, and technical analysis suggests stability. While some challenges exist, particularly in specific logistics segments, the stock remains well-positioned for potential growth.

Positive Factors

Dividend and Payout Policy

The dividend proposal is slightly better at CHF8.25 per share, reflecting a positive outlook.

Earnings Performance

Kuehne + Nagel's Sea segment delivered a strong performance with Q1 EBIT of CHF210m, exceeding expectations and driven by better yields.

Negative Factors

Guidance and Targets

The company is cancelling its overly ambitious 2026 targets.

Supply Chain and Market Conditions

Management expressed caution by citing 'greater uncertainty related to global development' and warned that reducing supply chain disruptions could lower yields.

Kuehne + Nagel International AG (KNIN) vs. iShares MSCI Switzerland ETF (EWL)

Market Cap

CHF21.94B

Dividend Yield4.46%

Average Volume (3M)257.66K

Price to Earnings (P/E)18.3

Beta (1Y)1.05

Revenue Growth13.34%

EPS Growth-4.15%

CountryCH

Employees77,130

SectorIndustrials

Sector Strength93

IndustryIntegrated Freight & Logistics

Share Statistics

EPS (TTM)2.45

Shares Outstanding120,753,784

10 Day Avg. Volume176,662

30 Day Avg. Volume257,657

Financial Highlights & Ratios

PEG Ratio12.57

Price to Book (P/B)7.31

Price to Sales (P/S)0.00

P/FCF Ratio14.40

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price Target

CHF215.11

Price Target Upside16.43% Upside

Rating ConsensusHold

Number of Analyst Covering9

Kuehne + Nagel International AG Business Overview & Revenue Model

Company DescriptionKuehne + Nagel International AG (KNIN) is a global logistics company headquartered in Switzerland. It operates in the freight forwarding and contract logistics sectors, providing sea freight, air freight, road and rail logistics, and integrated logistics solutions. The company serves a wide range of industries including automotive, aerospace, consumer goods, healthcare, and industrial goods, offering customized supply chain solutions that enhance efficiency and reduce costs.

How the Company Makes MoneyKuehne + Nagel International AG generates revenue primarily through its freight forwarding services, which include sea freight, air freight, and overland transportation. The company earns money by acting as an intermediary between clients who need to transport goods and carriers that provide shipping services. It leverages its global network and expertise to negotiate rates and manage logistics operations on behalf of clients, earning fees for these services. Additionally, Kuehne + Nagel provides contract logistics services, which involve managing supply chain functions such as warehousing, distribution, and inventory management. These services are typically provided through long-term contracts with companies in various industries. Key revenue streams include freight forwarding fees, contract logistics agreements, and value-added services such as customs clearance and supply chain consulting. Strategic partnerships with carriers and technology providers also play a role in enhancing service offerings and expanding market reach.

Kuehne + Nagel International AG Earnings Call Summary

Earnings Call Date:Apr 24, 2025

(Q1-2025)

% Change Since: 3.17%|

Next Earnings Date:Jul 24, 2025

Earnings Call Sentiment Neutral

The earnings call highlighted strong financial performance, market share gains, and successful strategic initiatives like the integration of IMC. However, challenges remain, particularly in Road Logistics and sea freight yield pressures. The landscape is marked by uncertainty, especially in global trade patterns from China.

Q1-2025 Updates

Positive Updates

Market Share and Profit Growth

Kuehne+Nagel increased its market share and achieved an 8% year-over-year growth in gross profit and a 7% increase in EBIT. Sea Logistics EBIT grew by 12% year-over-year.

Strong Performance in Air Logistics

Air Logistics saw a 23% improvement in EBIT year-over-year, with a 5% volume growth and a 7% increase in yields. Gross profit for Air Logistics grew by 12%.

Improved Cash Conversion and Capital Management

The company achieved a free cash conversion rate of 55%, well above the historical average for the first quarter. Working capital management contributed significantly to this improvement.

Contract Logistics Achievements

Contract Logistics delivered a new all-time high EBIT of CHF57 million in Q1, marking a 5% improvement on last year’s results.

Successful Integration of IMC

The acquisition of IMC positively contributed to earnings and cash flow, with no material synergies realized yet.

Negative Updates

Challenges in Road Logistics

Road Logistics EBIT for Q1 was CHF19 million, down by 37% year-over-year, reflecting a challenging operating environment and cost pressures.

Pressure on Sea Freight Yields

Despite positive volume growth, Sea Logistics faced pressure on yields, with organic unit EBIT down 3% year-over-year.

Uncertainty in Volume Trends

Volatility and uncertainty in global trade, especially regarding China to U.S. volumes, with a 25-30% decrease in bookings from China to the U.S.

Company Guidance

During the Q1 2025 Results Conference Call, Kuehne+Nagel reported significant financial and operational improvements. The company achieved an 8% year-over-year growth in gross profit and a 7% increase in EBIT, with Sea Logistics contributing a 12% EBIT growth. The organic sea and air EBIT growth was robust at 8%, driven by a 5% gross profit growth, while the combined organic sea and air conversion rate improved modestly to nearly 33%. Earnings per share (EPS) grew by 6% year-over-year or 4% on an organic basis. The free cash conversion rate reached 55%, well above the historical average for the first quarter. Sea Logistics saw a 7% year-over-year EBIT increase to CHF 210 million, with volumes up 3% despite market challenges. Air Logistics reported a strong 23% EBIT improvement year-over-year, with a 5% volume growth and yields up 7% to CHF 85 per 100 kilos. Road Logistics faced persistent market headwinds, with EBIT declining by 37% year-over-year, while Contract Logistics delivered a record EBIT of CHF 57 million, marking a 5% improvement. The company’s strategic initiatives under the Roadmap 2026 are progressing well, focusing on increasing customer satisfaction, enhancing digital processes, and supporting ESG efforts. Overall, Kuehne+Nagel maintained its guidance range for 2025 amid the current market uncertainty.

Kuehne + Nagel International AG Financial Statement Overview

Summary

Kuehne + Nagel International AG exhibits a solid financial performance with strong profitability and cash flow metrics. The income statement reflects efficient operations, while the balance sheet highlights a balanced leverage strategy with some equity reduction concerns. Cash flow remains a key strength, providing the company with operational flexibility. Continued monitoring of revenue trends and equity changes will be vital for sustaining long-term growth.

Income Statement

Positive

Kuehne + Nagel International AG demonstrates a stable income statement with key strengths in profit margins. The gross profit margin for TTM is approximately 28.82%, and the net profit margin is about 4.68%, indicating efficient cost management. EBIT and EBITDA margins are 6.55% and 9.96%, respectively, showcasing operational efficiency. However, revenue growth has been inconsistent, with a slight increase from 2023 to 2024 and a decline prior to that, suggesting potential demand fluctuations.

Balance Sheet

Positive

The balance sheet reflects a moderate financial position with a debt-to-equity ratio of approximately 0.95 for the TTM, indicating a balanced leverage approach. The equity ratio is around 22.96%, showing a reasonable proportion of equity financing. Return on Equity (ROE) is 41.51%, which is robust, reflecting effective use of shareholders' equity. However, the decreasing stockholders' equity over recent periods signals potential risks in maintaining this leverage strategy.

Cash Flow

Positive

Cash flow analysis reveals strong free cash flow growth of 24.07% from 2023 to TTM, indicating effective cash generation capabilities. The operating cash flow to net income ratio stands at 1.42, suggesting solid cash earnings conversion. However, the free cash flow to net income ratio is slightly lower at 1.22, pointing to some capital expenditure impacts. Overall, the company maintains healthy cash flow metrics, supporting its financial flexibility.

TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Breakdown
Income Statement		Total Revenue
25.62B	24.80B	23.85B	39.40B	32.80B	20.38B
	Gross Profit
7.39B	8.67B	3.15B	5.96B	5.38B	3.40B
	EBIT
1.68B	1.65B	1.85B	3.80B	2.96B	1.06B
	EBITDA
2.55B	2.49B	2.75B	4.59B	3.69B	1.81B
	Net Income Common Stockholders
1.20B	1.18B	1.43B	2.64B	2.03B	788.00M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
891.00M	1.15B	2.01B	3.78B	2.31B	1.70B
	Total Assets
12.58B	11.72B	10.97B	14.75B	14.65B	9.85B
	Total Debt
2.74B	2.35B	1.82B	1.70B	1.89B	1.99B
	Net Debt
1.85B	1.19B	-193.00M	-2.08B	-416.00M	288.00M
	Total Liabilities
9.69B	8.46B	7.81B	10.60B	11.44B	7.44B
	Stockholders Equity
2.89B	3.26B	3.15B	4.14B	3.20B	2.41B
Cash Flow		Free Cash Flow
1.47B	1.18B	1.39B	4.16B	2.26B	1.53B
	Operating Cash Flow
1.71B	1.48B	1.70B	4.40B	2.46B	1.72B
	Investing Cash Flow
-759.00M	-452.00M	-243.00M	-223.00M	-1.08B	158.00M
	Financing Cash Flow
-1.91B	-1.91B	-3.12B	-2.64B	-800.00M	-1.04B

Kuehne + Nagel International AG Technical Analysis

Technical Analysis Sentiment

Positive

Last Price184.75

Price Trends

50DMA

183.23

Positive

100DMA

191.23

Negative

200DMA

201.74

Negative

Market Momentum

MACD

0.40

Positive

RSI

52.12

Neutral

STOCH

42.70

Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:KNIN, the sentiment is Positive. The current price of 184.75 is below the 20-day moving average (MA) of 188.59, above the 50-day MA of 183.23, and below the 200-day MA of 201.74, indicating a neutral trend. The MACD of 0.40 indicates Positive momentum. The RSI at 52.12 is Neutral, neither overbought nor oversold. The STOCH value of 42.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:KNIN.

Kuehne + Nagel International AG Peers Comparison

Overall Rating

UnderperformOutperform

Sector (66)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KNIN	77 Outperform	CHF21.94B	18.25		4.46%	13.34%	-4.15%
DKSH	70 Outperform	CHF4.21B	19.60		3.62%	0.25%	18.00%
ADEN	70 Neutral	CHF3.78B	13.64		4.47%	-4.20%	-6.26%
Sector *	66 Neutral	$4.48B	12.26	5.32%	248.53%	4.10%	-12.36%

* Industrials Sector Average

Performance Comparison

CH:KNIN

Kuehne + Nagel International AG

187.50

-67.80

-26.56%

CH:ADEN

Adecco Group AG

22.16

-9.14

-29.20%

CH:DKSH

DKSH Holding AG

65.30

5.91

9.95%

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.