Want to see CH:KNIN full AI Analyst Report?
Top Page
Kuehne + Nagel International AG
(KNIN)
Select Model
Select Model
Rating:63Neutral
Price Target:
CHF218.00
▲(6.55% Upside)
Action:Reiterated
Date:07/24/26
Overall score reflects normalized financial performance with margin compression and higher leverage (key constraint), balanced by solid free cash flow quality. Technicals are supportive with an improving trend and steady momentum. The latest earnings call adds confidence via upgraded EBIT guidance and accelerating cost actions, while valuation remains a headwind due to the elevated P/E.
Positive Factors
Diversified global logistics network
Kuehne + Nagel’s presence across sea, air, road and contract logistics provides durable revenue diversification and cross‑sell opportunities. Scale and global carrier relationships support procurement, lane access and resilience to regional demand swings, preserving long‑term competitive positioning.
Negative Factors
Rising leverage
A materially higher debt‑to‑equity ratio reduces balance‑sheet flexibility and raises interest and refinancing risk, especially if margins remain pressured. Elevated leverage constrains capital allocation choices and increases vulnerability to adverse trade cycles or rate shocks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified global logistics network
Kuehne + Nagel’s presence across sea, air, road and contract logistics provides durable revenue diversification and cross‑sell opportunities. Scale and global carrier relationships support procurement, lane access and resilience to regional demand swings, preserving long‑term competitive positioning.
Read all positive factors
Kuehne + Nagel International AG (KNIN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF24.43B
Dividend Yield2.92%
Average Volume (3M)257.52K
Price to Earnings (P/E)28.2
Beta (1Y)1.06
Revenue Growth-5.87%
EPS Growth-25.05%
CountryCH
Employees82,400
SectorGeneral
Sector StrengthN/A
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)7.30
Shares Outstanding120,753,784
10 Day Avg. Volume223,760
30 Day Avg. Volume257,519
Financial Highlights & Ratios
PEG Ratio-0.90
Price to Book (P/B)9.32
Price to Sales (P/S)0.83
P/FCF Ratio13.08
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF188.89Price Target Upside-7.68% Downside
Rating ConsensusHold
Number of Analyst Covering9
EPS Forecast (FY)8.8
Revenue Forecast (FY)CHF25.11B
Kuehne + Nagel International AG Business Overview & Revenue Model
Company Description
Kuehne + Nagel International AG, supported by its global network of subsidiaries, delivers a comprehensive suite of logistics solutions worldwide. The company structures its operations across four primary divisions: Sea Logistics, Air Logistics, R...
How the Company Makes Money
Kuehne + Nagel primarily makes money by selling logistics services that organize, manage, and execute the transportation and handling of customers’ goods, earning revenue across several main business lines:
1) Sea freight (ocean freight forwardin...
Kuehne + Nagel International AG Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operating momentum driven by strong Air Logistics performance, sequential EBIT improvement (Q2 recurring EBIT +6% YoY, +24% QoQ), tangible cost reduction progress (~CHF 50 million saved in H1 and target CHF 200 million run rate by year-end), and an upgraded full-year recurring EBIT guidance (CHF 1.35–1.55 billion). Management also outlined a credible AI roadmap with targeted productivity gains and a CHF 100–150 million EBIT opportunity by end-2027. Offsetting these positives are lingering sea freight year-over-year weakness, margin/headline pressures in Contract Logistics from start-up and investment costs, higher working capital and weak Q2 cash conversion, and currency translation headwinds. On balance the upgrades, market-share gains, and structural initiatives (cost program and AI) outweigh the near-term operational and cash-cycle challenges.Positive Updates
Group Recurring EBIT Momentum
Q2 recurring EBIT = CHF 381 million, +6% year-over-year and +24% sequentially; group conversion rate improved to 16.9% in Q2 (from 14.6% in Q1 and 16.2% in Q2 last year on a comparable basis).
Negative Updates
Sea Logistics Year-over-Year Weakness
Sea Logistics volumes declined 1% year-over-year in Q2 and EBIT declined ~6% year-over-year (excluding currency effects), driven mainly by lower yields and continued weakness in certain trades (GCC drag and weak backhaul demand to Asia).
Read all updates
Q2-2026 Updates
Positive
Negative
Group Recurring EBIT Momentum
Q2 recurring EBIT = CHF 381 million, +6% year-over-year and +24% sequentially; group conversion rate improved to 16.9% in Q2 (from 14.6% in Q1 and 16.2% in Q2 last year on a comparable basis).
Read all positive updates
Company Guidance
Management raised 2026 recurring EBIT guidance to CHF 1.35–1.55 billion (upgraded by CHF 100m/CHF 150m at the lower/upper ends) and expects H2 recurring EBIT to be stronger than H1; Q2 recurring EBIT was CHF 381m (+6% YoY, +24% QoQ) with recurring group EPS +6% YoY (+11% ex FX). The cost‑reduction program delivered ~CHF 50m in H1 and targets an annualized gross run‑rate of at least CHF 200m by year‑end 2026 (>CHF 120m impact in 2026 alone) with similar Q3 run‑rate and acceleration into Q4. On AI, management targets at least 5% productivity gains across a ~25,000‑FTE addressable white‑collar population (CHF 1.7bn cost base, ~35% of staff costs) and projects CHF 100–150m of annualized EBIT impact by end‑2027. Cash metrics: Q2 free cash flow was CHF 116m (incl. CHF 40m disposal proceeds), Q2 conversion ~28% (just above 30% excl. cost‑program outflows), core working capital rose to >CHF 1.6bn (+CHF 97m in Q2) with net working capital intensity improving to 5.5% (guidance corridor 4.5–5.5%). Guidance assumes ≤5% FX translation headwind, a 25% effective tax rate and a long‑term preference for a small net‑cash position.Kuehne + Nagel International AG Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
48
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.22B | 24.48B | 24.80B | 23.85B | 39.40B | 32.80B |
| Gross Profit | 5.62B | 2.74B | 8.67B | 3.15B | 5.96B | 5.38B |
| EBITDA | 2.13B | 2.13B | 2.49B | 2.75B | 4.59B | 3.69B |
| Net Income | 864.00M | 882.00M | 1.18B | 1.43B | 2.64B | 2.03B |
Balance Sheet | ||||||
| Total Assets | 12.35B | 11.93B | 11.72B | 10.97B | 14.75B | 14.65B |
| Cash, Cash Equivalents and Short-Term Investments | 617.00M | 750.00M | 1.15B | 2.01B | 3.78B | 2.31B |
| Total Debt | 4.08B | 3.96B | 2.35B | 1.82B | 1.70B | 1.89B |
| Total Liabilities | 10.27B | 9.71B | 8.46B | 7.81B | 10.60B | 11.44B |
| Stockholders Equity | 2.05B | 2.18B | 3.26B | 3.15B | 4.14B | 3.20B |
Cash Flow | ||||||
| Free Cash Flow | 1.44B | 1.55B | 1.18B | 1.39B | 4.16B | 2.26B |
| Operating Cash Flow | 1.65B | 1.79B | 1.48B | 1.70B | 4.40B | 2.46B |
| Investing Cash Flow | -953.00M | -1.65B | -452.00M | -243.00M | -223.00M | -1.08B |
| Financing Cash Flow | -80.00M | -673.00M | -1.91B | -3.12B | -2.64B | -800.00M |
Kuehne + Nagel International AG Technical Analysis
Positive
204.60
Price Trends
197.99
Positive
185.99
Positive
174.64
Positive
Market Momentum
0.83
Positive
45.32
Neutral
19.15
Positive
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 204.6 is below the 20-day moving average (MA) of 205.88, above the 50-day MA of 197.99, and above the 200-day MA of 174.64, indicating a neutral trend. The MACD of 0.83 indicates Positive momentum. The RSI at 45.32 is Neutral, neither overbought nor oversold. The STOCH value of 19.15 is Positive, 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
UnderperformOutperform
Sector (55)
CH:KNIN
Kuehne + Nagel International AG
199.55
34.69
21.04%
CH:ADEN
Adecco Group AG
23.66
-1.89
-7.39%
CH:DKSH
DKSH Holding AG
68.90
13.63
24.65%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.