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Kuehne + Nagel
(OTC:KHNGY)
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Rating:64Neutral
Price Target:
$54.00
▲(0.02% Upside)
Action:Reiterated
Date:07/24/26
The score reflects solid but not peak-cycle fundamentals: stable revenue and good cash-flow quality are tempered by materially lower margins and higher leverage. The latest earnings call improves the outlook via raised EBIT guidance and credible cost/AI efficiency initiatives, while technicals are moderately supportive. Valuation remains a restraint given the elevated P/E relative to a normalized profitability backdrop.
Positive Factors
Multi‑modal global logistics platform
Kuehne + Nagel’s diversified service mix (sea, air, road, contract logistics and integrated solutions) creates durable revenue diversification and cross‑sell advantages. End‑to‑end capabilities and industry‑specific offerings support sticky client relationships and resilience across transport‑mode cycles, reducing single‑market exposure over the medium term.
Negative Factors
Elevated leverage
Material increase in leverage reduces balance‑sheet flexibility and magnifies downside risk if profitability or cash conversion deteriorates. Higher debt burdens raise interest and refinancing sensitivity, constrain strategic optionality for inorganic investments, and make deleveraging a structural priority if the lower‑margin environment persists.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi‑modal global logistics platform
Kuehne + Nagel’s diversified service mix (sea, air, road, contract logistics and integrated solutions) creates durable revenue diversification and cross‑sell advantages. End‑to‑end capabilities and industry‑specific offerings support sticky client relationships and resilience across transport‑mode cycles, reducing single‑market exposure over the medium term.
Read all positive factors
Kuehne + Nagel (KHNGY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$31.04B
Dividend Yield2.95%
Average Volume (3M)952.00
Price to Earnings (P/E)28.9
Beta (1Y)0.59
Revenue Growth2.87%
EPS Growth-17.85%
CountryUS
Employees80,655
SectorIndustrials
Sector Strength72
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)1.45
Shares Outstanding603,768,900
10 Day Avg. Volume1,310
30 Day Avg. Volume952
Financial Highlights & Ratios
PEG Ratio-0.92
Price to Book (P/B)9.41
Price to Sales (P/S)0.84
P/FCF Ratio13.30
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
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 International AG, together with its subsidiaries, provides integrated logistics services in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. The company operates through four segments: Sea Logistics, Air Logistic...
How the Company Makes Money
Kuehne + Nagel primarily makes money by selling logistics services and earning fees and margins for arranging, managing, and executing the movement and storage of customers’ goods.
1) Freight forwarding (Sea and Air): A major portion of revenue i...
Kuehne + Nagel 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 presented multiple clear operational and financial positives — accelerating recurring EBIT, strong Air Logistics performance, delivery from a cost reduction program, upgraded guidance, and a detailed AI plan with quantified productivity and EBIT uplift targets. These positives outweigh the headwinds, which are principally uneven sea volumes and yields, near‑term contract logistics start‑up costs, working capital pressure on Q2 cash conversion, and currency and AI cost uncertainties. Management provided concrete mitigation and timing (H2 strength, Q4 contract benefits, AI traction in 2027), supporting a constructive outlook.Positive Updates
Q2 Recurring EBIT Growth
Recurring EBIT in Q2 rose to CHF 381 million, up 6% year‑over‑year and +24% sequentially, driven by volume growth (notably Air Logistics) and disciplined cost control.
Negative Updates
Sea Logistics Year‑on‑Year Volume and EBIT Pressure
Sea Logistics volumes were down 1% year‑on‑year in Q2 and EBIT declined 6% YoY (excluding currency effects), with lower yields cited as the main reason and the GCC situation noted as a material drag on volumes.
Read all updates
Q2-2026 Updates
Positive
Negative
Q2 Recurring EBIT Growth
Recurring EBIT in Q2 rose to CHF 381 million, up 6% year‑over‑year and +24% sequentially, driven by volume growth (notably Air Logistics) and disciplined cost control.
Read all positive updates
Company Guidance
Management raised 2026 recurring EBIT guidance to CHF 1.35–1.55 billion (up the lower/upper bounds by CHF 100m/CHF 150m) and expects a stronger second half, supported by a cost‑reduction program that delivered ~CHF 50m in H1 and targets an annualized gross run‑rate of ≥CHF 200m by year‑end 2026 (impact >CHF 120m in 2026); AI is expected to deliver at least 5% productivity across an addressable white‑collar workforce of ~25,000 FTEs (≈CHF 1.7bn staff cost, ~35% of staff cost) with an annualized EBIT contribution of CHF 100–150m by end‑2027; guidance assumes no more than a 5% negative currency translation impact and a 25% effective tax rate, maintains a long‑term preference for a small net cash position, targets net working capital intensity within a 4.5–5.5% corridor (mid‑year 5.5%, NWC >CHF 1.6bn; Q2 core W/C rose CHF 97m), and expects normal free‑cash‑flow conversion to resume (Q2 FCF CHF 116m including CHF 40m disposal proceeds, Q2 conversion ~28% or just above 30% ex cost‑program outflows vs a 54% Q2 average since 2022 and a long‑term 90%+ conversion skewed to H2).Kuehne + Nagel Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
48
Neutral
Cash Flow
69
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.18B | 24.48B | 24.80B | 23.85B | 39.40B | 32.80B |
| Gross Profit | 8.73B | 8.80B | 8.67B | 8.79B | 5.96B | 5.38B |
| EBITDA | 2.15B | 2.19B | 2.50B | 2.76B | 4.60B | 3.70B |
| Net Income | 862.85M | 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 | 2.07B | 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 | 1.54B | 1.18B | 1.39B | 4.16B | 2.26B |
| Operating Cash Flow | 1.65B | 1.78B | 1.48B | 1.70B | 4.40B | 2.46B |
| Investing Cash Flow | -56.00M | -731.00M | -452.00M | -243.00M | -223.00M | -1.08B |
| Financing Cash Flow | -1.03B | -1.59B | -1.91B | -3.12B | -2.64B | -800.00M |
Kuehne + Nagel Technical Analysis
Positive
53.99
Price Trends
51.34
Positive
48.73
Positive
45.99
Positive
Market Momentum
0.63
Positive
48.95
Neutral
6.52
Positive
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 53.99 is above the 20-day moving average (MA) of 52.74, above the 50-day MA of 51.34, and above the 200-day MA of 45.99, indicating a neutral trend. The MACD of 0.63 indicates Positive momentum. The RSI at 48.95 is Neutral, neither overbought nor oversold. The STOCH value of 6.52 is Positive, 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $24.54B | 27.40 | 40.68% | 0.84% | 6.77% | 12.05% | |
72 Outperform | $25.71B | 38.89 | 18.75% | 0.65% | 5.28% | 28.24% | |
69 Neutral | $76.33B | 17.57 | 15.11% | 1.46% | 7.73% | 10.07% | |
64 Neutral | $31.04B | 28.95 | 39.40% | 2.95% | 2.87% | -17.85% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | $17.25B | 27.80 | 36.01% | 1.71% | -0.09% | 19.50% | |
45 Neutral | $5.54B | 42.20 | 4.41% | ― | 7.55% | 114.56% |
* Industrials Sector Average
KHNGY
Kuehne + Nagel
52.47
11.88
29.26%
CHRW
CH Robinson
150.10
25.94
20.90%
EXPD
Expeditors International
185.96
66.25
55.34%
FDX
FedEx
314.13
134.67
75.05%
JBHT
JB Hunt
274.78
134.92
96.47%
GXO
GXO Logistics
46.71
-4.18
-8.21%
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.