Krones AG (KRN) Fair Value & Analysis
Industrials · DE · Market cap €3.5B · ISIN DE0006335003
What is Krones AG really worth?
A solid business, trading 41% below our fair value of €198.88.
Strengths
Risks
For context
Fair value as of: Sep 1, 2026
From 26 valuation models · updated 4 days ago
Share price +0.7% 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 is below even our cautious bear case (€138.57). The market is more pessimistic than our downside scenario.
- Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.
How to read this chart
60‑month range €63.25 – €140.63 · fair‑value band €138.57 – €245.53 · the €117.00 price screens below the €198.88 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 1, 2026.
Analysis
Krones AG (KRN) currently trades at €117.00, while our model-based Fair Value estimate is €198.88, implying the stock looks roughly 41.2% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of €204.08 per share, and 18 of the 26 models we run sit above the €117.00 price. Bear case: the Dividend Discount group reads lowest at €37.59, and 8 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Krones AG generated revenue of €5.7B at a net margin of 5.1%. Revenue declined 2.5% year over year. It earns a return on equity of 13.9%. The balance sheet holds a net cash position of €401M. Fundamentals as of Sep 1, 2026
Our scenario range runs from €138.57 (bear case) to €245.53 (bull case); at €117.00, the current price sits below 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 19% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −52% fair-value upside, at 70%, KRN 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 €4.34 per share, which is 2.2 % 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 26 models by family
Widest divergence: DCF Models (€204.08) versus Dividend Discount (€37.59). Highest evidence: FCF DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 46
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
Krones AG, together with its subsidiaries, plans, develops, manufactures, and sells machines and lines for the fields of process, filling, and packaging technology in Germany, the rest of Europe, the Middle East, the Asia Pacific, China, the Americas, and internationally.
Full company description
Krones AG, together with its subsidiaries, plans, develops, manufactures, and sells machines and lines for the fields of process, filling, and packaging technology in Germany, the rest of Europe, the Middle East, the Asia Pacific, China, the Americas, and internationally. It operates in three segments: Filling and Packaging Technology, Process Technology, and Intralogistics. The Filling and Packaging Technology segment offers machines and systems for producing PET bottles; recycling systems for converting used plastic bottles into food-grade recycled materials. The Process Technology segment supplies machines and lines for producing and processing beer, soft drinks, fruit juices, milk, dairy drinks, and alternative proteins; and provides water treatment solutions and components under the Evoguard and Ampco Pumps brands. The Intralogistics segment is involved in the planning and design of automated warehousing, and order-picking and material flow systems with automated guided vehicle systems and matching software tools. It also provides system and software solutions. The company also offers logistics systems, and custom IT and digitalization solutions that manage and optimize all production processes. It serves beverage producers; and companies from the food, chemical, pharmaceutical, and cosmetic industries. Krones AG was founded in 1951 and is headquartered in Neutraubling, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Krones AG reported revenue of €5.7B in FY2025 versus €3.7B in FY2021, a compound +11.3%/yr. Reported net income was €299M in FY2025, compounding +20.6%/yr from FY2021.
of which total revenue +5.6 % · buybacks/dilution +0.0 %
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).
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Peer Group
Specialty Industrial Machinery · 792 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 Specialty Industrial Machinery 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.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| GE Vernova Inc GEV | $941.84 | $131.95 | −86% |
| SIE SIE | €289.85 | €139.77 | −52% |
| Eaton Corporation ETN | $402.78 | $168.65 | −58% |
| Parker-Hannifin Corporation PH | $995.02 | $398.69 | −60% |
| Atlas Copco AB ATCOA | kr 206.60 | kr 112.59 | −46% |
| Cummins Inc CMI | $564.40 | $348.94 | −38% |
| Illinois Tool Works Inc ITW | $281.67 | $145.84 | −48% |
| Emerson Electric Co EMR | $155.18 | $58.44 | −62% |
| AMETEK, Inc AME | $236.25 | $125.80 | −47% |
| Rockwell Automation, Inc ROK | $417.53 | $125.76 | −70% |
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