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Kuehne + Nagel
(OTC:KHNGY)
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Rating:63Neutral
Price Target:
$59.00
▲(9.28% Upside)
Action:Reiterated
Date:10/24/26
The score is anchored by mid-level fundamentals: recovering revenue and solid free cash flow are tempered by meaningfully lower margins and higher leverage. Technicals are supportive with an uptrend and healthy (not overbought) momentum. Valuation is a headwind due to a relatively high P/E, while the latest earnings call was a clear positive thanks to raised 2026 EBIT guidance and cost-savings progress despite working-capital and visibility risks.
Positive Factors
Revenue and cash generation
Revenue recovery combined with solid free cash flow and roughly 89% conversion indicates earnings are translating into cash, not merely accounting gains. This supports investment, debt service and customer-facing capacity across cycles, giving the global network financial resilience over the next several quarters.
Negative Factors
Lower structural margins
Profitability remains materially below the peak-cycle levels reached in 2022-2023, indicating that earnings power has normalized lower. Weaker margins reduce the buffer available for freight-rate volatility, cost inflation or pricing pressure and make sustained profit growth more dependent on efficiency gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and cash generation
Revenue recovery combined with solid free cash flow and roughly 89% conversion indicates earnings are translating into cash, not merely accounting gains. This supports investment, debt service and customer-facing capacity across cycles, giving the global network financial resilience over the next several quarters.
Read all positive factors
Kuehne + Nagel (KHNGY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$34.19B
Dividend Yield2.67%
Average Volume (3M)230.00
Price to Earnings (P/E)28.9
Beta (1Y)0.59
Revenue Growth7.83%
EPS Growth1.67%
CountryUS
Employees80,655
SectorIndustrials
Sector Strength72
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)1.63
Shares Outstanding603,768,900
10 Day Avg. Volume0
30 Day Avg. Volume230
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 Cap1.03
Enterprise Value/Revenue1.38
Enterprise Value/Gross Profit3.97
Enterprise Value/Ebitda15.44
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 to businesses that need to move, store, and manage goods. Its core revenue model is service-based: it quotes customers rates for transport and logistics solutions, procures underly...
Kuehne + Nagel 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, led by 53% year-over-year recurring EBIT growth, substantial improvements across Sea, Air, Road and Contract Logistics, accelerated cost savings, strong cash generation and another increase in 2026 EBIT guidance. The main challenges were higher working capital, the prior first-half foreign exchange headwind, persistent macroeconomic and geopolitical uncertainty, an ongoing Apex investigation, and limited visibility on longer-term Sea yields and freight-rate effects.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. The group conversion rate improved to 18.2% in Q3 from 16.9% in Q2 and 13.4% in Q3 last year on a like-for-like basis.
Negative Updates
Higher Working Capital and Working Capital Intensity
The working-capital base increased to more than CHF 1.9 billion at the end of Q3, up about 17%, reflecting strong volume development and higher rates. Net working capital intensity increased to 5.8% from 5.5% at mid-year and 5.1% a year earlier.
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. The group conversion rate improved to 18.2% in Q3 from 16.9% in Q2 and 13.4% in Q3 last year on a like-for-like basis.
Read all positive updates
Company Guidance
For 2026, Kuehne+Nagel raised recurring EBIT guidance to CHF 1.5 billion-CHF 1.6 billion, with the current midpoint nearly 20% greater than opening estimates; gross savings are expected to be more than CHF 150 million in 2026, with an annualized savings run rate of at least CHF 200 million by year-end and targeted savings delivered by year-end 2026, while currency translation is assumed to have no more than 5% negative impact and the effective tax rate remains 25%. Underlying free cash flow conversion is expected to follow normal seasonality, with a long-term average of 90%, heavily weighted to the second half of the year. The company expects CHF 100 million to CHF 150 million of annualized AI benefits to emerge over the course of 2027 and does not currently make any statement that it will go beyond CHF 150 million; Air Logistics volume development in Q3 is expected to materialize in Q4 with stable yields, Sea Logistics yields should be stable into Q4 and Q1, and the Amazon collaboration aims to come to CHF 1 billion kind of revenue as of 2027.Kuehne + Nagel Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
52
Neutral
Cash Flow
63
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 | 8.91B | 8.80B | 8.67B | 8.79B | 5.96B | 5.38B |
| EBITDA | 2.29B | 2.19B | 2.50B | 2.76B | 4.60B | 3.70B |
| Net Income | 976.87M | 882.00M | 1.18B | 1.43B | 2.64B | 2.03B |
Balance Sheet | ||||||
| Total Assets | 13.38B | 11.93B | 11.72B | 10.97B | 14.75B | 14.65B |
| Cash, Cash Equivalents and Short-Term Investments | 832.13M | 750.00M | 1.15B | 2.07B | 3.78B | 2.31B |
| Total Debt | 3.99B | 3.96B | 2.35B | 1.82B | 1.70B | 1.89B |
| Total Liabilities | 10.73B | 9.71B | 8.46B | 7.81B | 10.60B | 11.44B |
| Stockholders Equity | 2.61B | 2.18B | 3.26B | 3.15B | 4.14B | 3.20B |
Cash Flow | ||||||
| Free Cash Flow | 1.57B | 1.54B | 1.18B | 1.39B | 4.16B | 2.26B |
| Operating Cash Flow | 1.77B | 1.78B | 1.48B | 1.70B | 4.40B | 2.46B |
| Investing Cash Flow | -58.22M | -731.00M | -452.00M | -243.00M | -223.00M | -1.08B |
| Financing Cash Flow | -1.10B | -1.59B | -1.91B | -3.12B | -2.64B | -800.00M |
Kuehne + Nagel Technical Analysis
Positive
53.99
Price Trends
54.24
Positive
52.01
Positive
48.50
Positive
Market Momentum
0.71
Negative
62.57
Neutral
93.30
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 53.99 is below the 20-day moving average (MA) of 55.11, below the 50-day MA of 54.24, and above the 200-day MA of 48.50, indicating a bullish trend. The MACD of 0.71 indicates Negative momentum. The RSI at 62.57 is Neutral, neither overbought nor oversold. The STOCH value of 93.30 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $25.85B | 28.86 | 40.68% | 0.79% | 6.77% | 12.05% | |
70 Outperform | $73.37B | 19.45 | 12.56% | 1.52% | 3.09% | 14.94% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $34.19B | 28.89 | 41.90% | 2.67% | 7.83% | 1.67% | |
62 Neutral | $14.39B | 22.09 | 39.59% | 2.02% | 10.38% | 12.97% | |
61 Neutral | $20.61B | 31.05 | 18.71% | 0.81% | 10.59% | 23.25% | |
54 Neutral | $5.77B | 43.91 | 4.41% | ― | 7.55% | 114.56% |
* Industrials Sector Average
KHNGY
Kuehne + Nagel
57.64
20.07
53.43%
CHRW
CH Robinson
124.61
-27.07
-17.85%
EXPD
Expeditors International
198.85
78.21
64.83%
FDX
FedEx
313.28
112.30
55.88%
JBHT
JB Hunt
221.08
53.59
32.00%
GXO
GXO Logistics
50.27
-5.94
-10.57%
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.