Added to YB: 2025-11-24
Pitch date: 2025-11-20
KRN.DE [neutral]
Krones AG
+6.37%
current return
Author Info
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Company Info
Krones AG, together with its subsidiaries, engages in the planning, development, and manufacture of machines and lines for the production, filling, and packaging technology for the food and beverage industry in Germany and internationally.
Market Cap
EUR 3.9B
Pitch Price
EUR 125.60
Price Target
N/A
Dividend
2.09%
EV/EBITDA
6.97
P/E
13.57
EV/Sales
0.65
Sector
Machinery
Category
value
[KRN] Krones AG: Family Control, Zero Debt, and the Commoditisation Clock
KRN.DE (overview): German beverage packaging equipment leader at 6.2x EV/EBITDA despite 19.5% ROCE & 10.5% EBITDA margins (vs 4% in 2020). €4.29B backlog provides 9mo visibility. Bull case: operational improvements sticky, Ingeniq service model creates switching costs. Bear case: Chinese competition, customer self-sufficiency, 1.00x book-to-bill signals stalled growth.
Read full article (18 min)