Want to see CH:KNIN full AI Analyst Report?
Top Page
Kuehne + Nagel International AG
(KNIN)
Select Model
Select Model
Rating:61Neutral
Price Target:
CHF236.00
▲(8.76% Upside)
Action:Reiterated
Date:10/23/26
The score is driven primarily by mixed fundamentals: strong cash generation and renewed revenue growth are offset by significantly higher leverage and margins still well below prior-cycle peaks. The earnings call meaningfully supports the outlook via higher EBIT guidance and ahead-of-schedule savings, while technicals are neutral-to-mildly positive. Valuation is the main drag due to the high P/E despite a moderate dividend yield.
Positive Factors
Broad-based operating growth
Growth is emerging across several logistics divisions rather than relying on one market or service line. Volume gains, market-share wins and expanding contract logistics activity can strengthen network density, improve cross-selling opportunities and support more durable revenue growth over the next several quarters.
Negative Factors
Materially higher leverage
The sharp increase in debt relative to equity has reduced financial flexibility and makes the company more exposed to cyclical freight conditions. Although returns on equity are high, the balance-sheet contribution is now larger, increasing the importance of sustained cash generation and disciplined capital allocation.
Read all positive and negative factors
Positive Factors
Negative Factors
Broad-based operating growth
Growth is emerging across several logistics divisions rather than relying on one market or service line. Volume gains, market-share wins and expanding contract logistics activity can strengthen network density, improve cross-selling opportunities and support more durable revenue growth over the next several quarters.
Read all positive factors
Kuehne + Nagel International AG (KNIN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF26.97B
Dividend Yield2.64%
Average Volume (3M)289.00K
Price to Earnings (P/E)27.7
Beta (1Y)0.94
Revenue Growth1.09%
EPS Growth-5.24%
CountryCH
Employees86,981
SectorGeneral
Sector StrengthN/A
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)8.21
Shares Outstanding120,753,784
10 Day Avg. Volume173,267
30 Day Avg. Volume288,998
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
CHF214.56Price Target Upside-1.13% Downside
Rating ConsensusHold
Number of Analyst Covering9
EPS Forecast (FY)9.17
Revenue Forecast (FY)CHF26.08B
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 makes money primarily by organizing and managing the movement and storage of customers’ goods, earning revenue for logistics services delivered across several operating areas.
1) Freight forwarding (Ocean, Air, and Road): A major p...
Kuehne + Nagel International AG Earnings Call Summary
Earnings Call Date:Oct 22, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Mar 02, 2027
Earnings Call Sentiment Positive
The call was strongly positive overall. Profitability, cash flow, conversion rates, market-share gains, and all four business units showed improvement, while 2026 recurring EBIT guidance was raised for the third time and the cost-reduction program was ahead of schedule. The main negatives were higher working capital, earlier foreign-exchange headwinds, an ongoing Apex investigation, external macroeconomic uncertainty, and limited visibility on longer-term Sea Logistics yields.Positive Updates
Strong Group Profitability Growth
Third-quarter recurring EBIT rose to CHF 435 million, up 53% year-over-year and 14% quarter-on-quarter. Recurring group EPS increased 58% year-over-year, with no material currency translation impact.
Negative Updates
Higher Working Capital and Intensity
The working-capital base increased to more than CHF 1.9 billion at the end of Q3, up approximately 17%, reflecting strong volumes and higher rates. Net working-capital intensity rose to 5.8% from 5.5% at mid-year and 5.1% a year earlier. Core working capital increased CHF 281 million during Q3, compared with an CHF 80 million reduction in the same period last year.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Group Profitability Growth
Third-quarter recurring EBIT rose to CHF 435 million, up 53% year-over-year and 14% quarter-on-quarter. Recurring group EPS increased 58% year-over-year, with no material currency translation impact.
Read all positive updates
Company Guidance
Kuehne+Nagel raised 2026 recurring EBIT guidance to CHF 1.5 billion-CHF 1.6 billion, expects gross savings of more than CHF 150 million in 2026, up from the CHF 120 million, and expects savings to accelerate into Q4 and reach an annualized savings run rate of at least CHF 200 million by year-end; guidance assumes no more than 5% negative impact from currency translation and a 25% effective tax rate. The company is calling for CHF 100 million to CHF 150 million of annualized benefits to emerge over the course of 2027, with material AI productivity gains emerging in 2027 with an uplift of CHF 100 million-CHF 150 million, while Amazon collaboration aims to come to CHF 1 billion kind of revenue as of 2027. Air Logistics expects Q3 volume development to materialize in Q4 with stable yields, and market share gains similar to this year should continue; Sea yields should be stable into the Q4 and Q1, but beyond, it's hardly difficult to make any judgment currently.Kuehne + Nagel International AG Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
44
Neutral
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 25.56B | 24.48B | 24.80B | 23.85B | 39.40B | 32.80B |
| Gross Profit | 5.80B | 2.74B | 8.67B | 3.15B | 5.96B | 5.38B |
| EBITDA | 2.27B | 2.13B | 2.49B | 2.75B | 4.59B | 3.69B |
| Net Income | 977.00M | 882.00M | 1.18B | 1.43B | 2.64B | 2.03B |
Balance Sheet | ||||||
| Total Assets | 13.49B | 11.93B | 11.72B | 10.97B | 14.75B | 14.65B |
| Cash, Cash Equivalents and Short-Term Investments | 839.00M | 750.00M | 1.15B | 2.01B | 3.78B | 2.31B |
| Total Debt | 4.02B | 3.96B | 2.35B | 1.82B | 1.70B | 1.89B |
| Total Liabilities | 10.82B | 9.71B | 8.46B | 7.81B | 10.60B | 11.44B |
| Stockholders Equity | 2.63B | 2.18B | 3.26B | 3.15B | 4.14B | 3.20B |
Cash Flow | ||||||
| Free Cash Flow | 1.56B | 1.55B | 1.18B | 1.39B | 4.16B | 2.26B |
| Operating Cash Flow | 1.76B | 1.79B | 1.48B | 1.70B | 4.40B | 2.46B |
| Investing Cash Flow | -950.00M | -1.65B | -452.00M | -243.00M | -223.00M | -1.08B |
| Financing Cash Flow | -202.00M | -673.00M | -1.91B | -3.12B | -2.64B | -800.00M |
Kuehne + Nagel International AG Technical Analysis
Positive
217.00
Price Trends
221.04
Positive
210.54
Positive
192.27
Positive
Market Momentum
2.33
Positive
53.34
Neutral
34.93
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 217 is below the 20-day moving average (MA) of 226.34, below the 50-day MA of 221.04, and above the 200-day MA of 192.27, indicating a bullish trend. The MACD of 2.33 indicates Positive momentum. The RSI at 53.34 is Neutral, neither overbought nor oversold. The STOCH value of 34.93 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | CHF1.87B | 72.32 | ― | 2.47% | 2.60% | -65.24% | |
68 Neutral | CHF20.43B | 30.13 | ― | 3.11% | 4.72% | 3.37% | |
62 Neutral | CHF5.01B | 22.81 | ― | 3.24% | -1.37% | 8.55% | |
61 Neutral | CHF26.97B | 27.66 | ― | 2.64% | 1.09% | -5.24% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
CH:KNIN
Kuehne + Nagel International AG
227.10
73.63
47.98%
CH:DKSH
DKSH Holding AG
77.10
22.88
42.20%
CH:KARN
Kardex AG
242.50
-52.03
-17.66%
CH:SGSN
SGS SA
102.75
15.03
17.13%
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.