Knorr-Bremse AG (KBX) Fair Value & Analysis
Consumer Cyclical · DE · Market cap €16.5B · ISIN DE000KBX1006
What is Knorr-Bremse AG really worth?
A solid business, but trading 43% above our fair value of €72.88.
Strengths
Risks
For context
Fair value as of: Aug 29, 2026
From 25 valuation models · updated 6 days ago
Share price +1.2% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (€91.10). The favourable scenario is already priced in.
- Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (€49.99 to €91.10) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range €39.31 – €113.11 · fair‑value band €49.99 – €91.10 · the €104.30 price screens above the €72.88 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Knorr-Bremse AG (KBX) currently trades at €104.30, while our model-based Fair Value estimate is €72.88, implying the stock looks roughly 43.1% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of €73.77 per share, and 0 of the 25 models we run sit above the €104.30 price. Bear case: the Asset-Based group reads lowest at €12.90, and 25 of the 25 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Knorr-Bremse AG generated revenue of €7.9B at a net margin of 7.0%. Revenue declined 0.9% year over year. It earns a return on equity of 17.9%. Net debt stands at €1.3B. Fundamentals as of Aug 29, 2026
Our scenario range runs from €49.99 (bear case) to €91.10 (bull case); at €104.30, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 8% below its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −38% fair-value upside, at −30%, KBX screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €1.03 per share, which is 1.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 25 models by family
Widest divergence: DCF Models (€73.77) versus Asset-Based (€12.90). Highest evidence: FCF DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 60
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Knorr-Bremse AG, together with its subsidiaries, develops, produces, and markets brake systems for rail and commercial vehicles and other safety-critical systems worldwide. It operates in two segments, Rail Vehicle Systems and Commercial Vehicle Systems.
Full company description
Knorr-Bremse AG, together with its subsidiaries, develops, produces, and markets brake systems for rail and commercial vehicles and other safety-critical systems worldwide. It 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 Commercial Vehicle Systems segment provides pneumatic braking systems comprising brake control systems, disk brakes, drum brakes, brake cylinders, valves, and pedal units; steering systems; vehicle dynamics solutions, such as anti-lock braking systems and electronic stability programs; driver assistance systems; automated driving and electronic leveling control; energy supply and distribution systems, including compressors and air treatment products; and engine components and transmission control systems, such as vibration dampers, engine air management, transmission control, and gear/clutch actuation products for trucks, buses, trailers, and agricultural machinery. The company offers leasing, holding, logistics, and media and IT services. The company was founded in 1905 and is headquartered in Munich, Germany. Knorr-Bremse AG operates as a subsidiary of KB Holding GmbH.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Knorr-Bremse AG reported revenue of €7.8B in FY2025 versus €6.7B in FY2021, a compound +3.9%/yr. Reported net income was €534M in FY2025, compounding −3.7%/yr from FY2021.
of which total revenue +4.1 % · buybacks/dilution −0.2 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
KBX screens 43% overvalued. Compare with O'Reilly Automotive, Inc →
Peer Group
Auto Parts · 640 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Auto Parts median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Auto Parts stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| O'Reilly Automotive, Inc ORLY | $88.50 | $47.50 | −46% |
| AutoZone, Inc AZO | $2,932 | $2,287 | −22% |
| Hyundai Mobis Co 012330 | 450,500 KRW | 643,909 KRW | +43% |
| Fuyao Glass Industry Group 600660 | ¥57.67 | ¥84.47 | +46% |
| Samvardhana Motherson International Limited MOTHERSON | ₹165.30 | ₹80.63 | −51% |
| Magna International Inc MGA | $65.57 | $68.17 | +4% |
| Genuine Parts Company GPC | $137.51 | $58.07 | −58% |
| Bosch Limited BOSCHLTD | ₹48,700 | ₹11,534 | −76% |
| Ningbo Tuopu Group 601689 | ¥45.82 | ¥28.28 | −38% |
| Bharat Forge Limited BHARATFORG | ₹2,063 | ₹393.20 | −81% |
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