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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Today we're going to take a look at the well-established Knorr-Bremse AG (ETR:KBX). The company's stock saw a double-digit share price rise of over 10% in the past couple of months on the XTRA. The recent share price gains has brought the company back closer to its yearly peak. With many analysts covering the large-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price. However, what if the stock is still a bargain? Let’s examine Knorr-Bremse’s valuation and outlook in more detail to determine if there’s still a bargain opportunity.
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What Is Knorr-Bremse Worth?
Good news, investors! Knorr-Bremse is still a bargain right now. According to our valuation, the intrinsic value for the stock is €148.79, but it is currently trading at €106 on the share market, meaning that there is still an opportunity to buy now. However, given that Knorr-Bremse’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future. This is based on its high beta, which is a good indicator for share price volatility.
See our latest analysis for Knorr-Bremse
What kind of growth will Knorr-Bremse generate?XTRA:KBX Earnings and Revenue Growth April 20th 2026
Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. With profit expected to grow by 73% over the next couple of years, the future seems bright for Knorr-Bremse. It looks like higher cash flow is on the cards for the stock, which should feed into a higher share valuation.
What This Means For You
Are you a shareholder? Since KBX is currently undervalued, it may be a great time to accumulate more of your holdings in the stock. With an optimistic outlook on the horizon, it seems like this growth has not yet been fully factored into the share price. However, there are also other factors such as financial health to consider, which could explain the current undervaluation.
Are you a potential investor? If you’ve been keeping an eye on KBX for a while, now might be the time to make a leap. Its prosperous future outlook isn’t fully reflected in the current share price yet, which means it’s not too late to buy KBX. But before you make any investment decisions, consider other factors such as the track record of its management team, in order to make a well-informed buy.
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If you want to dive deeper into Knorr-Bremse, you'd also look into what risks it is currently facing. You'd be interested to know, that we found 1 warning sign for Knorr-Bremse and you'll want to know about this.
If you are no longer interested in Knorr-Bremse, you can use our free platform to see our list of over 50 other stocks with a high growth potential.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Knorr-Bremse logo
Key Points
2026 targets reaffirmed: Management reiterated midterm goals and full-year guidance of revenue €8.0–8.3bn, operating EBIT margin ~14% and free cash flow €750–850m, with rail margins expected to be above 17% in 2026. As part of its BOOST program, the company is close to selling its rail HVAC unit and is driving margin expansion through >12,000 efficiency measures, footprint optimization and targeted “greenfield” growth moves such as signaling acquisitions. Aftermarket resilience and disciplined capital allocation: Aftermarket represents roughly 46% of revenue (56% rail, 34% commercial vehicles) providing annuity-like cash flows; net debt/EBITDA is ~0.5x, the payout target is 40–50%, and buybacks/special dividends are not a near-term focus. Interested in Knorr-Bremse AG? Here are five stocks we like better.
Knorr-Bremse (ETR:KBX) outlined its business mix, strategic priorities and full-year guidance during a presentation at the German Select Conference led by Katharina Kosate, Senior Manager of Investor Relations. The company is the global market leader in braking systems and other safety-critical systems for rail vehicles and commercial vehicles, Kosate said, emphasizing that Knorr-Bremse typically delivers full systems that combine hardware, software and brake control rather than “only” brakes.
Business profile and profitability mix
Kosate described Knorr-Bremse as operating a “balanced portfolio” across two divisions: Rail Vehicle Systems (RVS) contributing about 55% of revenue, and Commercial Vehicle Systems (CVS) contributing about 45%. Rail is structurally more profitable, with an operating EBIT margin of “more than 16.5%,” compared with about 10.5% in the truck business, which Kosate said is “quite a good figure” given the current cycle.
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Geographically, she said the company is not overly dependent on any single region. Europe is its largest market, with “big operations” in North America and Asia as well. Kosate also highlighted the group’s aftermarket exposure as a key strength, accounting for roughly 46% of revenue.
For 2025, Kosate said Knorr-Bremse generated revenue of around EUR 7.8 billion and operating EBIT of about EUR 1 billion, corresponding to an operating EBIT margin of roughly 13%.
Aftermarket and barriers to entry
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A central theme of the presentation was resilience, which Kosate tied to differing economic cycles across the two divisions and to the company’s installed base. She said Knorr-Bremse products are in “more than every second train worldwide,” supporting the aftermarket business.
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Kosate pointed to homologation requirements in rail as a major barrier to switching suppliers, supporting high aftermarket share, particularly in rail. She described the aftermarket as “annuity-like in nature,” supported by long product life cycles, with trains typically lasting 40 years or more and trucks about 10 years for the company’s relevant service window.
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She cited aftermarket shares of 56% in rail and 34% in commercial vehicles, adding that the aftermarket provides “strong margins, cash flow stability, and a significant future potential.” She also said digital and connectivity-based services can further enhance that growth potential.
BOOST program and portfolio actions
Kosate said the company’s BOOST program, launched in 2023, is designed to drive margin expansion through cost optimization and footprint improvements, while also expanding into growth areas. She described two components:
“Brownfield” (housekeeping): efficiency measures, cost base improvements, footprint reorganization, and disposal of underperforming assets. “Greenfield” (growth): expansion into attractive, margin-accretive areas.
As part of its “Sell-It” actions, Kosate said the company is close to completing divestments, with one asset remaining: its rail HVAC (air conditioning) business. She said the unit is being sold because it is unlikely to reach the group’s margin expectations. “We will do it in the next couple of months and then sell it,” she said.
On efficiency, Kosate said the company has implemented more than 12,000 measures group-wide and characterized the work as ongoing.
In greenfield initiatives, she highlighted a signaling acquisition in North America purchased from Alstom in 2024, calling it the first step into signaling and stating that Knorr-Bremse became market leader in wayside signaling in North America. She said the technology can be expanded to markets such as South Africa, Australia and India, though not Europe. To build a European presence, Kosate pointed to the September acquisition of Duagon, describing it as a “first tiny step” in European signaling and adding that “one could expect some more smaller M&A regarding signaling in Europe in the next couple of years.”
Financial priorities, leverage and shareholder returns
Kosate said Knorr-Bremse’s financial priorities include profitable organic growth, margin expansion, improved cost conversion and disciplined capital allocation, while maintaining its investment-grade profile. She said net debt to EBITDA stands at about 0.5x and noted that leverage could rise for larger transactions, but a “superior financial profile” remains important.
In capital allocation, she listed priorities as investing in organic growth first, pursuing disciplined M&A second, and returning capital via dividends as a more distant third priority. The company targets a payout ratio of 40% to 50%. Share buybacks and special dividends are “nothing that we really have in a big focus at the moment,” she said.
Asked in Q&A whether buybacks or special dividends could change over time, Kosate said management discusses the topic but “for now, it’s not an option,” adding, “never say never,” while cautioning she does not see it “in the near future.”
Guidance, segment outlook and truck-cycle commentary
Kosate reiterated full-year expectations of revenue between EUR 8.0 billion and EUR 8.3 billion, operating EBIT margin of around 14%, and free cash flow between EUR 750 million and EUR 850 million. She said this is in line with the company’s midterm targets through 2026, and indicated an update to midterm targets could come with Q2 results “end of July.”
She said Rail has already reached its midterm margin target of 16.5% and is expected to be “definitely above the 17%” level this year. In Q&A, she added that rail margins could be around 17.5% in 2026, depending on the timing of the HVAC divestment.
On the truck business, Kosate said the segment is coming off a weak cycle but that the recovery is “rather slow” and “visible.” She said Knorr-Bremse expects to increase truck margins by about 150 basis points, from 10.4% in 2025 to about 12% in 2026, even in what she described as “still not so good” market conditions. Management has also said truck could reach 13% margin in a good market and 14% in a very good market, she added, while emphasizing this is not expected this year.
Regarding demand signals, Kosate said the company saw the “first kind of recovery” in orders in Q4 and expects a stronger second half of 2026 than the first half. She also said markets expect a potential “pre-buy effect” related to North American EPA regulation for 2027, though she noted the company does not include that in its budgets.
On digitalization investments such as predictive maintenance and condition-based monitoring—particularly in rail—Kosate said the company has multiple pilot projects and sees some early effects, but that the “bigger impact should be expected end of 2020s.”
She also provided color on smaller acquisitions. TruckServices, she said, is an app aimed at fleet and driver services that fits into a truck aftermarket ecosystem alongside Knorr-Bremse’s SafetyDirect condition-monitoring offering. Duagon, she said, brings both European signaling exposure and rail electronics capabilities that the company intends to combine with its existing electronics business.
About Knorr-Bremse (ETR:KBX)
Knorr-Bremse AG, together with its subsidiaries, engages in the development, production, marketing, and servicing of braking and other systems for rail and commercial vehicles worldwide. The company operates in two segments, Rail Vehicle Systems and Commercial Vehicle Systems. The Rail Vehicle Systems segment offers braking systems, entrance and HVAC systems, sanitary systems, coupling systems, digital solutions, smart services for optimizing rail traffic, power electrics, rail computing and communication (RCC)/TCMS, signaling systems, stationary and mobile testing equipment, windshield wiper and wash systems, and extensive aftermarket solutions.
The article "Knorr-Bremse at German Select Conference Reaffirms 2026 Targets, Eyes Rail HVAC Divestment" was originally published by MarketBeat.
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
For those looking to find strong Auto-Tires-Trucks stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Daimler Truck Holding AG - Sponsored ADR (DTRUY) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Auto-Tires-Trucks peers, we might be able to answer that question.
Daimler Truck Holding AG - Sponsored ADR is one of 103 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Daimler Truck Holding AG - Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DTRUY's full-year earnings has moved 11.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, DTRUY has moved about 14.1% on a year-to-date basis. At the same time, Auto-Tires-Trucks stocks have lost an average of 9%. This means that Daimler Truck Holding AG - Sponsored ADR is performing better than its sector in terms of year-to-date returns.
Knorr-Bremse - Unsponsored ADR (KNRRY) is another Auto-Tires-Trucks stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 6.3%.
Over the past three months, Knorr-Bremse - Unsponsored ADR's consensus EPS estimate for the current year has increased 2.5%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Daimler Truck Holding AG - Sponsored ADR belongs to the Automotive - Foreign industry, a group that includes 23 individual stocks and currently sits at #67 in the Zacks Industry Rank. On average, this group has lost an average of 3.2% so far this year, meaning that DTRUY is performing better in terms of year-to-date returns.
In contrast, Knorr-Bremse - Unsponsored ADR falls under the Automotive - Replacement Parts industry. Currently, this industry has 7 stocks and is ranked #73. Since the beginning of the year, the industry has moved -0.9%.
Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to Daimler Truck Holding AG - Sponsored ADR and Knorr-Bremse - Unsponsored ADR as they could maintain their solid performance.
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Daimler Truck Holding AG - Sponsored ADR (DTRUY) : Free Stock Analysis Report
Knorr-Bremse - Unsponsored ADR (KNRRY) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
**Zusammenfassung (Max. 450 Wörter)**
Dieser Artikel analysiert die Performance von Daimler Truck Holding AG - Sponsored ADR (DTRUY) und Knorr-Bremse - Unsponsored ADR (KNRRY) innerhalb des Sektors Auto-Reifen-Lkw und hebt ihre Outperformance im Vergleich zum Gesamtmarkt hervor. Die Analyse basiert auf dem Zacks-Rank-System, das Aktien mit verbessernden Prognosen für die Erträge priorisiert – ein System, das für kurzfristigen Markterfolg bekannt ist.
Daimler Truck Holding AG - Sponsored ADR hat aktuell einen Zacks-Rank von #2 (Buy), was einen starken Analysten-Optimismus widerspiegelt. Im Vergleich zum Jahresbeginn hat die Aktie eine robuste Rendite von 14,5 % erzielt, deutlich besser als der durchschnittliche Rückgang im Auto-Reifen-Lkw-Sektor von 3 %. Darüber hinaus hat sich die Konsensschätzung für den Jahresumsatz des Unternehmens um 11,9 % in den letzten drei Monaten erhöht, was ein wachsendes Vertrauen der Analysten signalisiert.
Auch Knorr-Bremse - Unsponsored ADR zeigt eine starke Performance mit einer Gewinnsteigerung im Vergleich zum Jahresbeginn von 21,1 %. Diese Aktie hat ebenfalls einen Zacks-Rank von #2 (Buy) und die Konsensschätzung für ihren aktuellen Jahresumsatz ist in den letzten drei Monaten um 8 % gestiegen.
Die Analyse geht auf den breiteren Sektor ein. Der Auto-Reifen-Lkw-Sektor insgesamt rangiert auf #11 innerhalb des Zacks Sector Rank, der die durchschnittliche Zacks-Rank-Bewertung von 103 Unternehmen berücksichtigt. Die Automotive - Foreign Branche, in der sich DTRUY befindet, hat im Vergleich zum Jahresbeginn 6 % zugelegt, was die positive Performance von DTRUY weiter stärkt.
Die Automotive - Replacement Parts Branche, in der Knorr-Bremse tätig ist, hat jedoch einen moderateren Zuwachs von 12 % verzeichnet. Dies unterstreicht die Bedeutung der branchenspezifischen Analyse.
Letztendlich empfiehlt der Artikel, sowohl DTRUY als auch KNRRY genau zu beobachten, angesichts ihrer derzeitigen starken Performance im Auto-Reifen-Lkw-Sektor. Der Bericht der Zacks Investment Research ermutigt zur Downloadung einer Liste der 7 besten Aktien für die nächsten 30 Tage.
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
**Zusammenfassung (ca. 500 Wörter)**
Dieser Artikel analysiert die Performance von Knorr-Bremse AG (KBX), einem deutschen Unternehmen, und untersucht, ob sichere Renditen über dem durchschnittlichen Marktrisiko hinaus bewegen. Während Indexfonds im Allgemeinen Marktrisiken widerspiegeln, können die Auswahl einzelner Unternehmen mit soliden Fundamentaldaten zu höheren Renditen führen.
Die Analyse zeigt ein gemischtes Bild. Innerhalb der letzten drei Jahre ist Knorr-Bremse’s Aktienkurs deutlich gestiegen (57 %), weit über dem Marktrisiko von 25 % (ohne Dividenden). Allerdings waren die Renditen neuerdings geringer (18 % inklusive Dividenden). Der Artikel untersucht die Gründe für diese Schwankungen.
Ein Schlüsselfaktor ist das sinkende Gewinn-pro-Aktie (EPS) über das Wachstum und der Zeitraum, dieser sank um 5,6 % jährlich. Dies deutet darauf hin, dass der Markt derzeit nicht hauptsächlich durch EPS-Wachstum angetrieben wird.
Stattdessen könnte die Umsatzwachstumsrate von 3,4 % über drei Jahren das Vertrauen der Investoren gestärkt haben, was auf eine Überzeugung hindeutet, dass eine bessere Zukunft vor sich liegt. Knorr-Bremse könnte sich vorübergehend darauf konzentrieren, den Umsatz zu steigern, auch wenn dies den EPS-Wert vorübergehend verringert.
Die Gesamtrendite für Aktionäre (TSR), die Dividenden und Übernahmen berücksichtigt, war im Vergleich zum Aktienkurs deutlich höher - 68 % innerhalb von drei Jahren. Dies lag hauptsächlich an den Dividendenzahlungen.
Der Artikel betont die Wichtigkeit, alle Renditekennzahlen zu berücksichtigen, insbesondere wenn Dividenden involviert sind. Die Analystenüberwachung von Knorr-Bremse deutet auf ein angemessenes Maß an Transparenz in Bezug auf zukünftige Wachstumsaussichten hin.
Darüber hinaus weist die Analyse darauf hin, dass das Investitionsrisiko berücksichtigt werden muss. Investoren werden dazu angehalten, jegliche Warnsignale im Zusammenhang mit dem Unternehmen zu berücksichtigen.
Schließlich plädiert der Artikel für die Betrachtung langfristiger Unternehmensleistung, die sich im Aktienkurs widerspiegelt, und die Suche nach Unternehmen, die einen nachweislichen Erfolg bei der Steigerung der Gewinne haben.
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