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Kuehne + Nagel International AG (CH:KNIN)
:KNIN
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Kuehne + Nagel International AG
(KNIN)
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Rating:68Neutral
Price Target:
CHF169.00
▲(11.99% Upside)
Kuehne + Nagel International AG's overall stock score reflects strong financial performance and attractive dividend yield. However, technical indicators suggest a bearish trend, and the earnings call highlighted financial pressures. The company's ability to manage leverage and execute cost reduction measures will be crucial for future stability.
Positive Factors
Market Share Expansion
Expanding market share in key logistics segments enhances competitive positioning and indicates robust demand for services, supporting long-term growth.
Improved Cash Flow Conversion
Strong cash flow conversion indicates effective management of operations and financial health, providing flexibility for future investments and debt management.
Contract Logistics Performance
Growth in contract logistics EBIT suggests successful client retention and service expansion, contributing to stable revenue streams and profitability.
Negative Factors
Decline in Group EBIT and EPS
Declining EBIT and EPS reflect operational challenges and profitability pressures, potentially impacting future earnings and investor confidence.
Rising Leverage
Increased leverage can strain financial resources, limiting flexibility and increasing risk, especially in volatile market conditions.
Yield Pressure in Logistics
Yield pressure in logistics indicates competitive pricing and market saturation, which could hinder margin expansion and revenue growth.
Kuehne + Nagel International AG (KNIN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF17.89B
Dividend Yield5.47%
Average Volume (3M)257.52K
Price to Earnings (P/E)15.5
Beta (1Y)1.01
Revenue Growth6.54%
EPS Growth-10.57%
CountryCH
Employees77,130
SectorServices
Sector StrengthN/A
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)1.63
Shares Outstanding120,753,784
10 Day Avg. Volume223,760
30 Day Avg. Volume257,519
Financial Highlights & Ratios
PEG Ratio-1.20
Price to Book (P/B)7.55
Price to Sales (P/S)0.99
P/FCF Ratio20.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF155.33Price Target Upside2.94% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering9
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Kuehne + Nagel International AG Business Overview & Revenue Model
Company DescriptionKuehne + Nagel International AG, together with its subsidiaries, provides integrated logistics services worldwide. The company operates through Sea Logistics, Air Logistics, Road Logistics, and Contract Logistics segments. It provides less-than-container load, reefer and project logistics, cargo insurance, full container shipping solutions, and customs clearance services. In addition, the company offers time-critical solutions, sea-air and time-defined products, airside and charter services, and time-critical solutions. Further, it provides aftermarket, production, and E commerce logistics, and distribution, packaging, process solutions. In addition, the company offers supply chain consulting and order management services. It serves aerospace, automotive, mobility, consumer, healthcare, high-tech, industrial, and perishables industries. The company was founded in 1890 and is based in Schindellegi, Switzerland. Kuehne + Nagel International AG is a subsidiary of Kuehne Holding AG.
How the Company Makes MoneyKuehne + Nagel generates revenue through multiple streams primarily by providing logistics and supply chain solutions. The company's key revenue streams include sea freight and air freight services, where they charge clients for the transportation of goods across international borders. Additionally, contract logistics services contribute significantly to their earnings, as clients often seek long-term partnerships for warehousing and distribution needs. The company also earns from integrated logistics services, which involve a combination of their core offerings to create tailored solutions for customers. Strategic partnerships with shipping lines, airlines, and technology providers enhance their service capabilities and cost efficiency, further boosting revenues. The company's focus on digitalization and investments in technology also play a crucial role in optimizing operations and enhancing customer service, thereby contributing to its financial performance.
Kuehne + Nagel International AG Earnings Call Summary
Earnings Call Date:Oct 23, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 03, 2026
Earnings Call Sentiment Negative
The earnings call reflected a challenging environment with notable declines in earnings and pressure on logistics yields. Despite these challenges, Kuehne + Nagel managed to expand its market share and improve cash flow conversion. However, significant cost reduction measures indicate ongoing financial pressures.Q3-2025 Updates
Positive Updates
Market Share Expansion
Kuehne + Nagel significantly expanded its global market share in Air Logistics and the SME segment in Sea Logistics despite challenging market conditions.
Improved Free Cash Flow Conversion
Free cash flow conversion improved to 105% in Q3, the first time it exceeded 100% since Q3 2022.
Contract Logistics Performance
Contract Logistics produced an EBIT of CHF 62 million in Q3, reflecting a 9% year-over-year EBIT growth or 12% excluding currency effects.
Negative Updates
Decline in Group EBIT and EPS
Group EBIT declined by 13% year-over-year, excluding currency effects, with Sea and Air Logistics combined EBIT down 16%. Group EPS declined 18% year-over-year or 15% excluding currency effects.
Yield Pressure in Sea and Air Logistics
Sea Logistics volume grew by only 2% in Q3, missing aspirations, with EBIT reflecting yield pressure. Air Logistics yields declined by 6% Q-on-Q due to excess capacity.
Cost Reduction Measures
In response to financial performance, the company announced measures to reduce recurring operation costs by at least CHF 200 million over the coming quarters.
Currency Impact
Negative currency impact of 4% in the third quarter alone, equating to CHF 85 million.
Company Guidance
During the Kuehne + Nagel Q3 2025 results call, the company discussed several key metrics and strategic actions. Year-to-date group EBIT decreased by 13% year-over-year, excluding currency effects, with Sea and Air Logistics combined EBIT down 16%. The conversion rate for these segments was 28% for the first nine months of 2025. The company reported a group EPS decline of 18% year-over-year, or 15% when excluding currency effects. Despite challenges, Kuehne + Nagel expanded its market share in Air Logistics and the SME segment in Sea Logistics. Free cash flow conversion improved to 105% in Q3, marking the first time since Q3 2022 that it exceeded 100%. The company announced a cost reduction program targeting CHF 200 million in savings to address the challenging market environment. Additionally, Kuehne + Nagel is set to acquire Partners Group's 24.9% stake in Apex, expected to settle in Q4 2025, financed by bank loans. The company adjusted its 2025 recurring EBIT guidance to greater than CHF 1.3 billion, excluding nonrecurring items.Kuehne + Nagel International AG Financial Statement Overview
Summary
Kuehne + Nagel International AG exhibits a solid financial performance with strong profitability and cash flow metrics. While the income statement reflects efficient operations, 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
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.78
Positive
Balance Sheet
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.65
Positive
Cash Flow
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.82
Very Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 25.73B | 24.80B | 23.85B | 39.40B | 32.80B | 20.38B |
| Gross Profit | 8.82B | 8.67B | 3.15B | 5.96B | 5.38B | 3.40B |
| EBITDA | 2.50B | 2.49B | 2.75B | 4.59B | 3.69B | 1.81B |
| Net Income | 1.15B | 1.18B | 1.43B | 2.64B | 2.03B | 788.00M |
Balance Sheet | ||||||
| Total Assets | 11.75B | 11.72B | 10.97B | 14.75B | 14.65B | 9.85B |
| Cash, Cash Equivalents and Short-Term Investments | 581.00M | 1.15B | 2.01B | 3.78B | 2.31B | 1.70B |
| Total Debt | 3.41B | 2.35B | 1.82B | 1.70B | 1.89B | 1.99B |
| Total Liabilities | 9.79B | 8.46B | 7.81B | 10.60B | 11.44B | 7.44B |
| Stockholders Equity | 1.92B | 3.26B | 3.15B | 4.14B | 3.20B | 2.41B |
Cash Flow | ||||||
| Free Cash Flow | 1.49B | 1.18B | 1.39B | 4.16B | 2.26B | 1.53B |
| Operating Cash Flow | 1.73B | 1.48B | 1.70B | 4.40B | 2.46B | 1.72B |
| Investing Cash Flow | -785.00M | -452.00M | -243.00M | -223.00M | -1.08B | 158.00M |
| Financing Cash Flow | -1.55B | -1.91B | -3.12B | -2.64B | -800.00M | -1.04B |
Kuehne + Nagel International AG Technical Analysis
Negative
150.90
Price Trends
156.53
Negative
163.46
Negative
176.90
Negative
Market Momentum
-1.16
Positive
39.36
Neutral
19.14
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:KNIN, the sentiment is Negative. The current price of 150.9 is below the 20-day moving average (MA) of 153.76, below the 50-day MA of 156.53, and below the 200-day MA of 176.90, indicating a bearish trend. The MACD of -1.16 indicates Positive momentum. The RSI at 39.36 is Neutral, neither overbought nor oversold. The STOCH value of 19.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:KNIN.
Kuehne + Nagel International AG Peers Comparison
UnderperformOutperform
Sector (55)
CH:KNIN
Kuehne + Nagel International AG
150.90
-48.43
-24.30%
CH:ADEN
Adecco Group AG
24.20
0.53
2.24%
CH:DKSH
DKSH Holding AG
55.10
-9.23
-14.35%
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.