Loading…
Global freight forwarder managing sea, air, road and contract-logistics shipments for other companies.
Global freight forwarder managing sea, air, road and contract-logistics shipments for other companies.
Buys space from shipping lines and airlines and resells it to shippers with its handling services, keeping the difference, so it owns few ships or planes. Gross profit per shipment rather than the freight rate itself is what matters. Klaus-Michael Kuhne's holding company is the controlling shareholder.
In one line: The freight-forwarding equivalent of Expeditors International, but larger.
Moat: narrow (scale, network effects, data). Global carrier volume and IT platform give cost/visibility edge, but forwarding is asset-light and competitive.
Headquarters: Schindellegi, Switzerland · Founded: 1890 · Employees: 105,444
Size Kuehne & Nagel International (KNIN.SW) is a Switzerland Industrials company (Marine Shipping) with a market value of $34.3B, the 18th largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 235.50 on 6 Nov 2026.
Performance Over six months the shares gained 35.2%, against +14.0% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 3rd highest of 15 in its peer set.
Growth Revenue grew 1.1% over the last twelve months (peer median -2.2%); the operating margin is 5.2% (peer median 12.0%).
Valuation It trades at 25.4× forward earnings against a peer median of 6.3× (most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 13.2 points above its cost of capital (5.0% WACC).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 25.6B | CHF 24.5B | CHF 24.8B | CHF 23.8B | CHF 39.4B |
| Revenue growth | — | -1% | +4% | -39% | — |
| Gross profit | CHF 2.88B | CHF 2.74B | CHF 2.98B | CHF 3.15B | CHF 5.20B |
| EBITDA | CHF 2.22B | CHF 2.13B | CHF 2.47B | CHF 2.63B | CHF 4.52B |
| Net income | CHF 977M | CHF 882M | CHF 1.18B | CHF 1.43B | CHF 2.64B |
| Free cash flow | CHF 1.56B | CHF 1.55B | CHF 1.21B | CHF 1.44B | CHF 4.18B |
| Capital expenditure | CHF 198M | CHF 239M | CHF 304M | CHF 310M | CHF 247M |
| Total debt | CHF 4.02B | CHF 3.96B | CHF 2.35B | CHF 1.82B | CHF 1.70B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Kuehne & Nagel International KNIN.SW | $34.3B | +35% | +1% | 5% | 25.4× | 3.2% |
| Dsv A/s DSV.CO | $51.5B | -3% | +37% | 8% | 23.5× | 3.9% |
| Deutsche Post DHL.DE | $72.8B | +21% | +1% | 8% | 16.0× | 3.3% |
| Expeditors International EXPD | $24.0B | +18% | +19% | 10% | 21.1× | 8.9% |
| Nippon Express Hldgs 9147.T | $8.22B | +35% | +2% | 3% | 17.6× | 7.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | KNIN.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.0% | -5.3% | 4th highest of 15 |
| 6-month return | +35.2% | +14.0% | 3rd highest of 15 |
| Distance from 52-week high | -4.0% | -16.2% | 2nd highest of 15 |
| Revenue growth (TTM) | +1.1% | -2.2% | 7th highest of 15 |
| Operating margin | 5.2% | 12.0% | 3rd lowest of 15 |
| Forward P/E | 25.4× | 6.3× | most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 3.2% | -2.3% | 4th most demanding of 14 |
| Growth delivered (Del g) | +3.7% | +7.8% | 2nd lowest of 14 |
| Hurdle (Req g minus delivered) | -0.6 pp | -13.0 pp | 2nd most demanding of 14 |
| ROIC minus cost of capital | +13.2 pp | +1.0 pp | 2nd highest of 15 |
| EV / EBITDA | 14.0× | 5.7× | 2nd most expensive of 12 |
| Net debt / EBITDA | 1.4× | 0.0× | 4th most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kuehne & Nagel International KNIN.SW | Switzerland | $34.3B | +35% | +1% | 5% | 25.4× | 3.2% | +3.7% |
| COSCO SHIPPING 1919.HK | Hong Kong | $38.5B | +20% | -5% | 13% | 6.0× | -8.7% | +4.3% |
| Hapag-Lloyd HLAG.DE | Germany | $25.1B | +11% | -9% | 2% | 18.5× | 34.4% | +7.8% |
| A.P. Moller - Maersk A/S MAERSK-A.CO | Denmark | $47.6B | +44% | -8% | 5% | 5.9× | -1.3% | +6.6% |
| China Merchants Energy Shipping 601872.SS | China | $19.6B | -8% | +60% | 39% | 6.3× | -9.5% | +5.4% |
| Nippon Yusen Kabushiki Kaisha 9101.T | Japan | $16.8B | +17% | 0% | 6% | 9.0× | 7.8% | +8.5% |
| Evergreen Marine Corp(taiwan) 2603.TW | Taiwan | $16.1B | +28% | -20% | 15% | 5.0× | -9.1% | +12.9% |
| SITC International 1308.HK | Hong Kong | $15.8B | +34% | +5% | 34% | 10.7× | -0.4% | +15.3% |
| HMM 011200.KS | South Korea | $15.3B | +8% | -5% | 11% | 9.7× | -1.8% | +11.2% |
| Mitsui O.s.k. Lines 9104.T | Japan | $15.0B | +10% | +20% | 6% | 7.3× | n/a | n/a |
| COSCO SHIPPING Energy Transportation 600026.SS | China | $13.2B | -21% | +38% | 33% | 6.1× | -8.2% | +7.8% |
| OOIL 0316.HK | Hong Kong | $12.8B | +10% | -8% | 10% | 5.9× | -2.3% | +3.6% |
| Kawasaki Kisen Kaisha 9107.T | Japan | $11.0B | +17% | +11% | 8% | 9.4× | 7.3% | +10.2% |
| Ningbo Zhoushan Port 601018.SS | China | $10.4B | -4% | +12% | 16% | n/a | -7.3% | +7.6% |
| Wan Hai Lines 2615.TW | Taiwan | $9.12B | +40% | -14% | 22% | 5.8× | -12.0% | +11.4% |