Kuehne + Nagel (KHNGY)
OTHER OTC:KHNGY
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Kuehne + Nagel
(OTC:KHNGY)
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Rating:54Neutral
Price Target:
$45.00
▲(3.07% Upside)
Action:ReiteratedDate:03/12/26
The score is driven primarily by mixed fundamentals: strong cash-flow resilience is offset by weaker profitability and a more leveraged 2025 balance sheet. Earnings-call guidance and cost actions provide moderate support, while technical indicators remain bearish and valuation looks stretched despite the high dividend yield.
Positive Factors
Strong cash generation
Sustained positive free cash flow and very high Q4 conversion provide durable financial flexibility. This supports dividends, funds the CHF 200m cost program and potential debt paydown, and cushions operating volatility, enabling strategic investments without immediate reliance on external financing.
Negative Factors
Deteriorating balance sheet leverage
A sharp rise in debt alongside lower equity reduces financial cushioning and increases sensitivity to revenue or margin shocks. Higher leverage can constrain strategic optionality, raise refinancing and interest risk, and limit ability to invest or absorb cyclical freight downturns without corrective measures.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained positive free cash flow and very high Q4 conversion provide durable financial flexibility. This supports dividends, funds the CHF 200m cost program and potential debt paydown, and cushions operating volatility, enabling strategic investments without immediate reliance on external financing.
Read all positive factors
Kuehne + Nagel (KHNGY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$27.83B
Dividend Yield5.3%
Average Volume (3M)2.96K
Price to Earnings (P/E)23.3
Beta (1Y)0.71
Revenue Growth10.63%
EPS Growth-7.68%
CountryUS
Employees77,130
SectorIndustrials
Sector Strength72
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)0.33
Shares Outstanding603,768,900
10 Day Avg. Volume2,733
30 Day Avg. Volume2,959
Financial Highlights & Ratios
PEG Ratio-0.93
Price to Book (P/B)9.41
Price to Sales (P/S)0.84
P/FCF Ratio13.30
Enterprise Value/Market Cap0.91
Enterprise Value/Revenue1.04
Enterprise Value/Gross Profit2.89
Enterprise Value/Ebitda11.62
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Kuehne + Nagel Business Overview & Revenue Model
Company Description
Kuehne + Nagel (KHNGY) is a global leader in logistics and supply chain management, providing services across various sectors including sea freight, air freight, contract logistics, and overland transportation. Established in 1890, the company has...
How the Company Makes Money
Kuehne + Nagel primarily makes money by arranging and managing the movement and storage of goods for customers and charging fees and margins for these services. A core revenue stream is freight forwarding in ocean and air freight: the company buys...
Kuehne + Nagel Earnings Call Summary
Earnings Call Date:Mar 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Neutral
The call conveyed a balanced picture: several strong operational and financial positives (notably robust Q4 free cash flow and cash conversion, market share gains in Air, record Contract Logistics performance, completed cloud migration and promising AI pilots, and implementation of a CHF 200m cost program) were offset by material full-year profit declines (underlying EBIT down 14%, EPS down 25%), earlier-year yield pressure in Sea Logistics, one-off provisions (CHF 122m) with cash outflows mainly in 2026, a rising working capital intensity and currency headwinds. Management provided constructive 2026 recurring EBIT guidance (CHF 1.2–1.4bn) but kept AI benefits conservatively out of near-term guidance. Overall, the results show operational resilience and a path to improvement but with meaningful near-term challenges and uncertainties.Positive Updates
Market Share Expansion in Air and Sea
Continued expansion of market share in Air Logistics and improved SME share in Sea Logistics; Air volume growth of 7% in Q4 (well ahead of estimated market growth of 4-5%) and ongoing market share gains in hyperscalers, health care and aerospace.
Negative Updates
Full-Year Profitability Decline
Underlying group EBIT declined by 14% year-over-year on a full-year basis, primarily driven by yield pressure in Sea Logistics during Q2 and Q3 2025.
Read all updates
Q4-2025 Updates
Positive
Negative
Market Share Expansion in Air and Sea
Continued expansion of market share in Air Logistics and improved SME share in Sea Logistics; Air volume growth of 7% in Q4 (well ahead of estimated market growth of 4-5%) and ongoing market share gains in hyperscalers, health care and aerospace.
Read all positive updates
Company Guidance
Management reiterated 2026 recurring group EBIT guidance of CHF 1.2–1.4 billion, with an expected effective tax rate of ~25% and an additional ~5% negative currency‑translation headwind from USD depreciation versus 2025; the cost‑reduction program remains on track for at least CHF 200 million of gross annual savings (greater share now from FTE reductions), with an estimated net impact of ~CHF 100 million in 2026 and full run‑rate by year‑end 2026 (Q4 one‑offs of CHF 122 million, most cash outflows expected in 2026). They adjusted the net working‑capital intensity corridor to 4.5–5.5% (Q4 2025 NWC intensity 5.2% vs 5.1% in Q3 and 4.4% at end‑2024; NWC +8% y/y), confirmed strong free‑cash‑flow seasonality after generating CHF 396 million in Q4 (conversion 147% in Q4; 86% FY), proposed a CHF 6 per‑share dividend, said net‑debt/EBITDA is ~1.5x (comfortable), expect Q1 recurring EBIT to be roughly comparable to Q3 2025 (Q1 typically weaker vs H2) and are not yet factoring material AI productivity gains into 2026 (material traction expected from 2027).Kuehne + Nagel Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
45
Neutral
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 24.48B | 24.80B | 23.85B | 39.40B | 32.80B |
| Gross Profit | 8.80B | 8.67B | 8.79B | 5.96B | 5.38B |
| EBITDA | 2.19B | 2.50B | 2.76B | 4.60B | 3.70B |
| Net Income | 882.00M | 1.18B | 1.43B | 2.64B | 2.03B |
Balance Sheet | |||||
| Total Assets | 11.93B | 11.72B | 10.97B | 14.75B | 14.65B |
| Cash, Cash Equivalents and Short-Term Investments | 750.00M | 1.15B | 2.07B | 3.78B | 2.31B |
| Total Debt | 3.96B | 2.35B | 1.82B | 1.70B | 1.89B |
| Total Liabilities | 9.71B | 8.46B | 7.81B | 10.60B | 11.44B |
| Stockholders Equity | 2.18B | 3.26B | 3.15B | 4.14B | 3.20B |
Cash Flow | |||||
| Free Cash Flow | 1.54B | 1.18B | 1.39B | 4.16B | 2.26B |
| Operating Cash Flow | 1.78B | 1.48B | 1.70B | 4.40B | 2.46B |
| Investing Cash Flow | -731.00M | -452.00M | -243.00M | -223.00M | -1.08B |
| Financing Cash Flow | -1.59B | -1.91B | -3.12B | -2.64B | -800.00M |
Kuehne + Nagel Technical Analysis
Positive
43.66
Price Trends
45.32
Positive
43.65
Positive
42.28
Positive
Market Momentum
0.11
Negative
62.56
Neutral
100.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KHNGY, the sentiment is Positive. The current price of 43.66 is below the 20-day moving average (MA) of 43.96, below the 50-day MA of 45.32, and above the 200-day MA of 42.28, indicating a bullish trend. The MACD of 0.11 indicates Negative momentum. The RSI at 62.56 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KHNGY.
Kuehne + Nagel Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $86.29B | 22.26 | 15.76% | 1.94% | 3.09% | 14.94% | |
66 Neutral | $19.47B | 24.87 | 35.57% | 1.02% | 12.54% | 19.59% | |
66 Neutral | $83.36B | 11.75 | 35.12% | 6.55% | -1.25% | -2.25% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $23.49B | 50.75 | 17.81% | ― | -0.30% | -11.02% | |
61 Neutral | $19.91B | 32.93 | 32.52% | 1.51% | -7.08% | 71.39% | |
54 Neutral | $27.83B | 23.26 | 38.91% | 5.30% | 10.63% | -7.68% |
* Industrials Sector Average
KHNGY
Kuehne + Nagel
46.87
8.31
21.53%
CHRW
CH Robinson
167.84
80.33
91.80%
EXPD
Expeditors International
145.81
41.42
39.68%
XPO
XPO
200.52
108.47
117.84%
FDX
FedEx
361.63
160.86
80.12%
UPS
United Parcel
98.18
8.73
9.76%
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.