Krones AG KRNTY

IndustrialsMachinery, Tools, Heavy Vehicles, Trains & ShipsGermany

Last close 64.56 USD on Nov 2, 2026, −17.4% year to date

Quant rating

Quant rating B Rank 149 of 418 in Industrials

Growth B 65 of 418
Valuation C 236 of 418
Quality A 43 of 418
Revisions D 317 of 418
Momentum C 196 of 418

Wall Street consensus Buy (2.00)Average target 155.21 USD +140.4%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 4.0B
Enterprise value: 3.8B
52-week range: 64.15 – 82.00
3-year range: 53.05 – 86.89
Dividend yield: 2.51%
Beta (5 years): –
Shares outstanding: 31.6M
Next earnings: Nov 6, 2026

About the company

Krones AG is a Germany-based designer, developer and manufacturer of processing, packaging and bottling machines and systems. The Company focuses on stretch blow-molding technology, filling and closing technology, aseptic filling, labeling, direct-printing and dressing technology, inspection and monitoring technology, cleaning technology, rinsers and pasteurizers, packing and palletizing technology, conveyor technology, systems engineering, process technology, brewing technology, information technology, polyethylene terephthalate (PET) recycling plants and factory planning. In addition to that, the Company provides logistics services to the food and beverage industry, as well as information technology (IT) solutions under the SitePilot brand.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	6,652	5,480	5,210	4,505	4,132	–
Revenue growth	21.4%	5.2%	15.6%	9.0%	1.8%	10.4%
EPS (basic, normalized)	11.12	9.21	7.68	6.41	5.00	–
EPS growth	20.8%	19.9%	19.8%	28.2%	–	–
Gross margin	53.4%	52.4%	50.5%	52.0%	52.3%	52.1%
Net margin	5.3%	5.2%	4.8%	4.4%	3.9%	4.7%
ROE	14.7%	15.2%	13.5%	12.5%	10.9%	13.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	463
Current ratio	1.42x
Long-term debt (mil)	145
Net debt (mil)	−264
Total equity (mil)	2,503
Net debt / equity	−0.11x
Net debt / EBITDA	−0.37x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	6,652	+21.4%	0.6x	709	+27.4%	5.3x	11.12	+20.8%	5.8x
2026	6,387	−4.0%	0.6x	693	−2.2%	5.5x	11.11	−0.1%	5.8x
2027	6,600	+3.3%	0.6x	730	+5.2%	5.2x	11.78	+6.0%	5.5x
2028	6,937	+5.1%	0.5x	785	+7.6%	4.8x	13.01	+10.5%	5.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	6,387	−1.0%	−1.2%	−2.2%	11.11	−1.4%	−1.8%	−5.2%
2027	6,600	−2.9%	−3.3%	−4.9%	11.78	−5.1%	−5.9%	−9.8%
2028	6,937	−3.6%	−4.1%	−5.5%	13.01	−6.1%	−7.3%	−5.8%

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,247	1,309	1,319	1,419	1,410	1,316	1,381	1,556	1,379	1,336
Sales mean (mil)	1,254	1,295	1,284	1,418	1,387	1,372	1,382	1,578	1,375	1,318
Surprise	−0.6%	+1.1%	+2.7%	0.0%	+1.7%	−4.0%	−0.1%	−1.4%	+0.3%	+1.4%
EPS reported	2.08	2.19	2.08	2.42	2.40	2.21	2.15	2.69	2.17	2.23
EPS mean	2.06	1.41	2.53	2.59	2.41	2.32	2.23	3.33	2.37	2.08
Surprise	+1.2%	+55.4%	−17.9%	−6.5%	−0.5%	−4.5%	−3.4%	−19.3%	−8.3%	+7.4%

Peer comparison Machinery, Tools, Heavy Vehicles, Trains & Ships

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
KRNTY Krones AG	4.0B	−0.37x	5.3%	1.65x	5.8x	5.5x	5.5x	5.2x
THKLY THK Co Ltd	4.3B	0.47x	4.2%	2.32x	6.4x	7.0x	10.0x	8.4x
SOHVY Sumitomo Heavy Industries Ltd	4.3B	1.58x	2.9%	0.95x	3.9x	3.0x	7.0x	6.4x
XE X-Energy Inc	4.2B	–	−357.3%	2.32x	−18.3x	−19.9x	−20.8x	−21.0x
DNIYY Danieli & C Officine Meccaniche SpA	4.0B	–	6.2%	1.26x	8.7x	8.1x	1.8x	1.7x
MWA Mueller Water Products, Inc.	3.8B	−0.13x	13.4%	3.35x	15.5x	15.3x	10.1x	9.7x
Mean		0.39x	−54.2%	1.98x	3.7x	3.2x	2.3x	1.7x
Median		0.17x	4.7%	1.99x	6.1x	6.2x	6.3x	5.8x

Technical analysis

1M+0.6%
3M+0.6%
1Y−12.2%
3Y+27.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Krones AG, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	6,652	5,480	5,210	4,505	4,132	4,058
Cost of revenue	3,101	2,610	2,578	2,164	1,972	1,977
Gross profit	3,551	2,871	2,632	2,341	2,160	2,081
Selling, general & administrative expenses	2,446	1,991	1,875	1,665	1,612	1,684
Research & development	–	–	–	–	–	–
Depreciation/amortization	217	174	163	149	161	191
Interest expense (income), operating	−42.4	6.9	−1.4	23.8	7.2	−9.1
Unusual expense (income)	−0.7	0	10.2	2.7	0	21.8
Other operating expenses	441	317	263	253	186	244
Operating income	490	382	321	247	194	−49.8
Net interest income (expense)	8.5	6.6	8.6	11.5	8.4	−6.6
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−0.2	6.9	12.9	1.0	−1.2	11.7
Net income before taxes	498	395	343	259	202	−44.7
Provision for taxes	147	108	94.8	58.8	40.8	52.6
Minority interest	−0.6	−0.3	0	−0.1	0	−0.1
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	351	287	248	200	161	−97.3
Extraordinary items	–	–	–	–	–	–
Net income	351	287	248	200	161	−97.3
EBIT, normalized	447	389	330	273	206	74.2
EBITDA, normalized	663	563	493	422	363	251
Basic EPS, normalized	11.12	9.21	7.68	6.41	5.00	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Krones AG, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	645	458	495	722	436	265
Receivables	2,333	1,978	2,031	1,662	1,534	1,514
Total inventory	796	688	708	631	493	434
Prepaid expenses	–	–	–	–	–	–
Other current assets	225	187	243	203	223	177
Total current assets	3,999	3,311	3,476	3,218	2,685	2,390
Property, plant & equipment	1,082	882	842	742	758	801
Goodwill	276	237	202	144	120	124
Intangibles	429	371	306	230	225	243
Long-term investments	25.9	23.3	19.5	22.4	35.5	40.6
Note receivable	24.9	14.4	21.9	31.0	50.7	44.5
Other long-term assets	84.1	77.9	73.5	76.2	98.7	80.7
Total assets	5,922	4,917	4,941	4,464	3,973	3,724
Liabilities
Accounts payable	1,020	831	798	732	586	452
Payable/accrued	–	–	–	–	–	–
Accrued expenses	429	352	340	365	307	266
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	53.0	43.6	40.9	25.5	33.7	67.2
Other current liabilities	1,388	1,252	1,416	1,230	971	892
Total current liabilities	2,890	2,477	2,596	2,353	1,897	1,678
Long-term debt	122	97.9	113	93.2	82.9	88.2
Minority interest	0.4	−0.2	−0.5	−0.5	−0.6	−0.7
Other liabilities	410	352	339	308	411	493
Total liabilities	3,422	2,928	3,048	2,753	2,390	2,258
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	47.0	41.4	44.1	42.8	45.5	48.9
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	2,646	2,098	2,007	1,765	1,722	1,677
Treasury stock	–	–	–	–	–	–
Other equity	−193	−150	−158	−97.4	−185	−260
Total equity	2,500	1,990	1,893	1,711	1,583	1,466
Total liabilities & shareholders' equity	5,922	4,917	4,941	4,464	3,973	3,724

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Krones AG, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	498	395	343	259	202	−44.7
Depreciation, depletion & amortization	218	174	184	153	161	213
Deferred taxes	–	–	–	–	–	–
Non-cash items	84.6	40.7	−40.2	50.2	13.6	15.4
Changes in working capital	−273	−142	−334	50.4	23.7	210
Cash from operations	527	468	152	513	400	393
Investing activities
Capital expenditures	−217	−188	−180	−126	−119	−115
Other investing cash flows	−15.8	−163	−84.1	11.1	−31.5	−8.2
Cash from investing	−233	−351	−264	−115	−151	−123
Financing activities
Financing cash flow items	–	–	–	0	0	0
Cash dividends paid	−96.5	−72.0	−61.0	−47.3	−2.2	−28.9
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−54.0	−47.1	−42.8	−38.1	−67.1	−92.0
Cash from financing	−150	−119	−104	−85.4	−69.2	−121
Foreign exchange effects	−18.1	−4.2	−33.9	−0.4	9.2	−19.1
Net change in cash	126	−6.1	−250	312	189	130
Free cash flow	310	281	−27.6	386	281	278

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.