Company Valuation: Knorr-Bremse AG

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 18,003 14,008 8,228 9,479 11,340 17,023 17,023 -
Change - -22.19% -41.27% 15.2% 19.64% 50.11% 0% -
Enterprise Value (EV) 1 18,703 14,777 9,563 10,947 13,024 18,522 18,288 17,870
Change - -20.99% -35.28% 14.47% 18.97% 42.22% -1.26% -2.28%
P/E ratio 36.4x 22.5x 16.8x 17.1x 25.4x 29.9x 23.5x 20.7x
PBR 9.83x 6.01x 3.21x 3.34x 3.72x 5.13x 4.61x 4.08x
PEG - 0.9x -0.8x 1.3x -1.3x 1.1x 0.9x 1.5x
Capitalization / Revenue 2.92x 2.09x 1.15x 1.2x 1.44x 2.18x 2.07x 1.95x
EV / Revenue 3.04x 2.2x 1.34x 1.38x 1.65x 2.38x 2.22x 2.05x
EV / EBITDA 16.9x 12.2x 9.15x 8.97x 10x 14.1x 12.1x 10.7x
EV / EBIT 23x 16.1x 13.3x 12.6x 14.3x 20.4x 16.2x 13.9x
EV / FCF 27.7x 24.6x 50.5x 19.8x 18.7x 27.1x 23.5x 21.2x
FCF Yield 3.61% 4.07% 1.98% 5.04% 5.34% 3.69% 4.26% 4.71%
Dividend per Share 2 1.52 1.85 1.45 1.64 1.75 1.783 2.144 2.397
Rate of return 1.36% 2.13% 2.84% 2.79% 2.49% 1.69% 2.03% 2.27%
EPS 2 3.07 3.87 3.03 3.43 2.77 3.538 4.503 5.107
Distribution rate 49.5% 47.8% 47.9% 47.8% 63.2% 50.4% 47.6% 46.9%
Net sales 1 6,157 6,706 7,150 7,926 7,883 7,798 8,236 8,713
EBITDA 1 1,107 1,211 1,046 1,221 1,302 1,315 1,518 1,674
EBIT 1 814 920.3 721.3 869.9 910.7 908.6 1,130 1,281
Net income 1 495.5 624.3 487.7 552.5 445.5 569.8 721.3 808.5
Net Debt 1 699.9 768.3 1,335 1,468 1,683 1,499 1,265 847.7
Reference price 2 111.68 86.90 51.04 58.80 70.35 105.60 105.60 105.60
Nbr of stocks (in thousands) 161,200 161,200 161,200 161,200 161,200 161,200 161,200 -
Announcement Date 31/03/21 24/02/22 23/03/23 21/03/24 19/02/25 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
29.85x2.38x14.09x1.69% 20.2B
28.31x2.21x20.06x2.86% 66.73B
19.48x1.93x10.84x2.48% 45.53B
27.09x1.8x19.72x1.31% 40.2B
15.82x1.13x11.8x3.81% 39.16B
37.01x4.99x20.48x1.44% 33.7B
21.7x1.84x14.86x1.61% 23.33B
-20.34x - - 0.69% 17.75B
27.63x2.88x15.83x2.23% 16.45B
30.49x1.01x17.62x2.14% 15.89B
Average 21.70x 2.24x 16.15x 2.03% 31.89B
Weighted average by Cap. 23.26x 2.24x 16.43x 2.22%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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