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German maker of bottling, filling and packaging machinery used by breweries, beverage and liquid-food producers.
German maker of bottling, filling and packaging machinery used by breweries, beverage and liquid-food producers.
Sells whole filling and packaging lines to bottlers and brewers as large capital orders, then earns steadier income from spare parts, upgrades and servicing across the machines already installed. Orders follow beverage makers' capacity spending worldwide. The founding Kronseder family is the biggest shareholder.
In one line: A German maker of beverage-line equipment, akin to a niche Illinois Tool Works segment.
Moat: narrow (installed base, process know-how, switching costs). Large installed base and service/spare-parts revenue at beverage plants worldwide, but capital-goods order cyclicality.
Headquarters: Neutraubling, Germany · Founded: 1951 · Employees: 21,339
Size Krones (KRN.DE) is a Germany Industrials company (Industrial Machinery) with a market value of $3.94B, the 82nd largest of 205 Germany companies the cockpit tracks. Shares closed at €111.20 on 6 Nov 2026.
Performance Over six months the shares fell 6.9%, against -15.6% for the median peer and +2.6% for the Germany market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 3.4% over the last twelve months (peer median +7.8%); the operating margin is 7.3% (peer median 7.4%).
Valuation It trades at 11.2× forward earnings against a peer median of 19.6× (3rd cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.2 points above its cost of capital (8.5% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €5.65B | €5.66B | €5.29B | €4.72B | €4.21B |
| Revenue growth | — | +7% | +12% | +12% | — |
| Gross profit | €1.14B | €1.13B | €1.02B | €846M | €778M |
| EBITDA | €607M | €531M | €504M | €411M | €360M |
| Net income | €292M | €299M | €277M | €225M | €187M |
| Free cash flow | €250M | €329M | €345M | €40.0M | €418M |
| Capital expenditure | €215M | €185M | €181M | €163M | €118M |
| Total debt | €174M | €149M | €137M | €140M | €111M |
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 |
|---|---|---|---|---|---|---|
| Krones KRN.DE | $3.94B | -7% | +3% | 7% | 11.2× | -1.8% |
| GEA Group Aktiengesellschaft G1A.DE | $12.6B | +25% | +4% | 12% | 21.0× | 5.8% |
| Alfa Laval ALFA.ST | $22.5B | 0% | +4% | 18% | 24.2× | 7.9% |
| Shibuya 6340.T | $839M | +40% | +5% | 10% | 11.3× | -0.2% |
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 | KRN.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.9% | -3.1% | 4th highest of 21 |
| 6-month return | -6.9% | -15.6% | 6th highest of 20 |
| Distance from 52-week high | -22.9% | -34.4% | 5th highest of 21 |
| Revenue growth (TTM) | +3.4% | +7.8% | 7th lowest of 21 |
| Operating margin | 7.3% | 7.4% | 11th highest of 21 |
| Forward P/E | 11.2× | 19.6× | 3rd cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -1.8% | 7.5% | 2nd least demanding of 11 |
| Growth delivered (Del g) | +11.3% | +9.5% | 6th highest of 11 |
| Hurdle (Req g minus delivered) | -13.1 pp | -2.6 pp | 2nd least demanding of 11 |
| ROIC minus cost of capital | +6.2 pp | -3.3 pp | 5th highest of 21 |
| EV / EBITDA | 5.4× | 11.4× | 2nd cheapest of 9 |
| Net debt / EBITDA | -0.4× | -0.3× | 5th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Krones KRN.DE | Germany | $3.94B | -7% | +3% | 7% | 11.2× | -1.8% | +11.3% |
| Avic Aviation High-Technology 600862.SS | China | $3.92B | -6% | -3% | 22% | 31.2× | 6.0% | +11.4% |
| Voltas VOLTAS.NS | India | $3.84B | -19% | +4% | 4% | 50.1× | n/a | n/a |
| Aixtron AIXA.DE | Germany | $3.84B | -45% | -9% | 16% | 42.6× | 5.7% | +15.6% |
| Amada 6113.T | Japan | $4.10B | -20% | +18% | 10% | 15.9× | 8.7% | +11.8% |
| Estun Automation 2715.HK | Hong Kong | $3.79B | -9% | +13% | 4% | 42.2× | 28.7% | +13.5% |
| Ningbo Zhenyu Technology 300953.SZ | China | $3.77B | -35% | +58% | 6% | 21.2× | n/a | n/a |
| Mueller Water Products MWA | United States | $3.75B | -9% | +6% | 21% | 15.3× | 2.4% | +5.8% |
| Jiangsu Gao Kai Precision Fluid 688835.SS | China | $4.15B | n/a | +21% | 24% | n/a | n/a | n/a |
| Franklin Electric FELE | United States | $4.16B | -5% | +7% | 13% | 18.0× | 9.2% | +11.3% |
| DMG MORI Aktiengesellschaft GIL.DE | Germany | $4.17B | 0% | +3% | 5% | n/a | 11.3% | +2.7% |
| Zijin Longking 600388.SS | China | $3.70B | -6% | +13% | 11% | 17.4× | n/a | n/a |
| X-Energy XE | United States | $4.24B | -65% | -9% | -156% | n/a | n/a | n/a |
| Sumitomo Heavy Industries 6302.T | Japan | $3.64B | -10% | +9% | 6% | 13.0× | 6.3% | +4.3% |
| Haitian International 1882.HK | Hong Kong | $3.64B | -18% | +8% | 17% | 7.4× | -11.5% | +7.7% |
| Kunshan Kinglai Hygienic Materials 300260.SZ | China | $3.61B | -12% | +11% | 8% | 73.2× | n/a | n/a |
| Danieli & C. Officine Meccaniche DAN.MI | Italy | $3.60B | -24% | -8% | -6% | 13.5× | n/a | n/a |
| Leo 002131.SZ | China | $4.33B | -34% | +10% | -1% | n/a | n/a | n/a |
| Jusung Engineering 036930.KS | South Korea | $4.39B | +5% | -33% | 0% | 145.3× | n/a | n/a |
| THK 6481.T | Japan | $3.52B | -16% | +8% | 7% | 10.6× | 24.8% | +1.9% |
| Anhui Yingliu Electromechanical 603308.SS | China | $3.50B | -58% | +38% | 13% | 42.0× | n/a | n/a |