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KION GROUP AG (KGX) Fair Value & Analysis

Industrials · DE · Market cap €5.4B

KG KION GROUP AG KGX · XETRA
Price€41.75
Fair Value€42.74
Upside+2.4%
Quality48/100
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Mixed Growth
Thin margins · 3.3% net margin
Low debt · generates free cash flow
1.51% dividend yield
Mixed vs. peers (7/15)
Narrow moat 34/100
Evidence: High Range €39.60 – €53.43 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from €30.42 to €42.74 (+40.5%) since Jul 12, 2026. Share price +2.0% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from €39.60 (bear) to €53.43 (bull), base €42.74. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 48/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€94.42 €18.25 Fair Value €42.74 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range €18.25 – €94.42 · fair‑value band €39.60 – €53.43 · the €41.75 price screens below the €42.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

KION GROUP AG (KGX) currently trades at €41.75, while our model-based Fair Value estimate is €42.74, implying the stock looks roughly 2.4% fairly valued today. The Quality Score stands at 48/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, KION GROUP AG generated revenue of €11.3B at a net margin of 3.3%. Revenue declined 0.6% year over year. It earns a return on equity of 6.1%. Net debt stands at €7.0B. Fundamentals as of Aug 13, 2026

Our scenario range runs from €39.60 (bear case) to €53.43 (bull case); at €41.75, the current price sits within 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 40% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -16% fair-value upside, at 2%, KGX screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF €54.84 €80.56 €115.66 80
Residual Income €34.02 €33.52 €29.38 76
Rev-Margin DCF €38.41 €59.21 €83.09 74
All 26 models by family
DCF Models
FCF DCF €53.95 €83.01 €125.14 38
Owner Earnings €77.75 €118.89 €178.55 31
5Y Revenue Exit €38.41 €58.65 €83.81 39
5Y EBITDA Exit €87.00 €148.88 €220.89 41
5Y P/E Exit €33.14 €48.86 €64.84 38
10Y Revenue Exit €42.72 €62.20 €87.22 36
10Y EBITDA Exit €73.92 €123.20 €188.79 37
10Y P/E Exit €40.44 €55.59 €73.16 35
Earnings-Based
Graham-Dodd €11.93 €35.83 €47.47 54
Lynch FV €7.60 €10.86 €14.12 50
PEG = 1.0 €7.60 €10.86 €14.12 46
EPV €23.38 €27.59 €31.22 59
Dividend Discount
Gordon GGM €7.20 €14.35 €21.73 70
DDM Multi-Stage €7.20 €11.52 €15.14 61
Multiples
P/E Multiple €27.64 €36.85 €46.06 63
P/S Multiple €22.37 €29.83 €37.29 58
P/B Multiple €22.37 €29.83 €37.29 55
EV/EBIT €45.09 €61.22 €77.34 53
EV/EBITDA €119.89 €160.94 €201.99 54
EV/Revenue €31.25 €46.04 €60.84 43
Asset-Based
NCAV (Graham) €23.25 €31.16 €46.50 50
Growth DCF
Growth DCF €54.84 €80.56 €115.66 80
Rev-Margin DCF €38.41 €59.21 €83.09 74
Economic Profit
Residual Income €34.02 €33.52 €29.38 76
ROIC Compounder €23.38 €27.59 €31.22 72
Growth Earnings
Growth-Adj P/E €22.57 €32.25 €41.92 68

Widest divergence: DCF Models (€62.20) versus Earnings-Based (€10.86). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €11.3B
Revenue growth (YoY) -0.6%
Net margin 3.3%
Return on equity 6.1%
Free cash flow €702M FY2025
P/E ratio 14.9
More key figures
Operating margin 6.4%
EPS (TTM) €2.81
Dividend yield 1.5%
EPS growth (YoY) -38.5%
Net debt €7.0B FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 48 · Market factors (momentum, volatility) 15

Profitability 27
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 21
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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.

About the company

KION GROUP AG provides industrial trucks and supply chain solutions in Western and Eastern Europe, the Middle East, Africa, North America, Central and South America, China, and the rest of the Asia Pacific. It operates through Industrial Trucks & Services; and Supply Chain Solutions segments.

Full company description

KION GROUP AG provides industrial trucks and supply chain solutions in Western and Eastern Europe, the Middle East, Africa, North America, Central and South America, China, and the rest of the Asia Pacific. It operates through Industrial Trucks & Services; and Supply Chain Solutions segments. The company offers forklift and heavy trucks, counterbalance trucks with electric drive and internal combustion engine, intralogistics systems, components and spare parts, narrow aisle trucks, lithium-ion batteries, and industrial and warehouse trucks under the Linde, STILL, Baoli, Fenwick, and OM brands. It also leases and rents industrial trucks and related equipment; and provides maintenance and repair services, fleet management solutions, driver assistance systems, and service options, as well as finance solutions. In addition, the company provides integrated technology and software solutions, automated guided vehicle systems, warehouse automation solutions, palletizers, storage and picking equipment, automated storage and retrieval systems, system components and racking, sorters, and conveyors under the Dematic brand. Further, it offers logistics solutions. The company was formerly known as KION Holding 1 GmbH. KION GROUP AG was founded in 2006 and is headquartered in Frankfurt am Main, Germany.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KION GROUP AG reported revenue of €11.3B in FY2025 versus €10.3B in FY2021, a compound +2.4%/yr. Reported net income was €230M in FY2025, compounding −20.2%/yr from FY2021.

Growth Quality 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€11.3B
Latest YoY
−1.8%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.5%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.3%
Avg. growth/yr (16Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.5%
Revenue +2.4%/yr
FY21 €10.3B
FY22 €11.1B
FY23 €11.4B
FY24 €11.5B
FY25 €11.3B
Net income −20.2%/yr
FY21 €568M
FY22 €98.0M
FY23 €306M
FY24 €360M
FY25 €230M
Character of growth · EPS growth decomposed (2014-2025) +0.9 % p.a.
Revenue per share +6.2 pp

of which total revenue +9.3 pp · buybacks/dilution −3.1 pp

EBIT margin −2.6 pp
Tax rate −0.7 pp
Residual (interest, one-offs) −2.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "KION GROUP AG Fair Value". https://www.fairvalue-calculator.com/stock/KGX

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Farm & Heavy Construction Machinery · 149 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.

Quality Score 48 · Below median
Fair Value upside +2% · Above median
Return on equity (TTM) 6% · Below median
Return on assets 2% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 6% · Below median
Revenue growth -1% · Below median
Dividend yield (TTM) 1.5% · Below median
Debt / equity 0.15× · Lower than median

Valuation Multiples vs Farm & Heavy Construction Machinery median · lower = cheaper

P/E (TTM) 14.9× · Cheaper than median
P/B 1.02× · Cheaper than median
P/S (TTM) 0.55× · Cheaper than median
P/FCF 8.9× · Pricier than median
EV/EBITDA 4.0× · Cheaper than 75% of peers
PEG 0.41× · Cheaper than 75% of peers

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 37 · sector 21
FUTURE 0 · sector 30
PAST 25 · sector 34
HEALTH 93 · sector 93
DIVIDEND 30 · sector 39

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Farm & Heavy Construction Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Caterpillar Inc CAT $855.60 $307.83 -64%
Deere & Company DE $619.77 $182.29 -71%
AB Volvo (publ), VOLVA kr 344.00 kr 288.08 -16%
PACCAR Inc PCAR $131.06 $94.80 -28%
Epiroc AB EPIA kr 254.50 kr 144.14 -43%
Sany Heavy Industry Co 600031 ¥18.91 ¥20.84 +10%
XCMG Construction Machinery Co 000425 ¥8.25 ¥11.79 +43%
Sinotruk (Hong Kong) Limited 3808 HK$41.42 HK$53.57 +29%
Yutong Bus Co 600066 ¥29.82 ¥42.00 +41%
Ashok Leyland Limited ASHOKLEY ₹176.70 ₹118.01 -33%

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Frequently asked questions

Is KION GROUP AG (KGX) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €42.74 versus a price of €41.75, about +2% (fairly valued).
What is the fair value of KGX?
Our model-based fair value for KION GROUP AG is €42.74 (as of Aug 13, 2026), built from audited fundamentals. The current price is €41.75.
What is the quality score of KGX?
KION GROUP AG has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of KION GROUP AG (KGX)?
KION GROUP AG reported trailing-twelve-month revenue of about €11.3B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of KGX?
The net profit margin of KION GROUP AG is about 3.3%, meaning it keeps roughly 3.3% of revenue as net income. Based on the latest reported figures.
Does KION GROUP AG pay a dividend?
KION GROUP AG currently shows a dividend yield of about 1.41% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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