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Krones

BATS-CHIXE:KRND
Snowflake Description

Excellent balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KRND
BATS-CHIXE
€2B
Market Cap
  1. Home
  2. GB
  3. Capital Goods
Company description

Krones AG, together with its subsidiaries, engages in planning, developing, and manufacturing machinery and systems for the fields of process technology, filling and packaging technology, and intralogistics in Germany and internationally. The last earnings update was 27 days ago. More info.


Add to Portfolio Compare Print
  • Krones has significant price volatility in the past 3 months.
KRND Share Price and Events
7 Day Returns
10.8%
BATS-CHIXE:KRND
8.5%
GB Machinery
1.7%
GB Market
1 Year Returns
-36.6%
BATS-CHIXE:KRND
-21.4%
GB Machinery
-21.8%
GB Market
KRND Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Krones (KRND) 10.8% 2.7% -23.6% -36.6% -50.9% -48.4%
GB Machinery 8.5% -11.9% -24.2% -21.4% -15.5% -8.1%
GB Market 1.7% -12% -25.3% -21.8% -22.8% -22.4%
1 Year Return vs Industry and Market
  • KRND underperformed the Machinery industry which returned -21.4% over the past year.
  • KRND underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -21.8% over the past year.
Price Volatility
KRND
Industry
5yr Volatility vs Market

KRND Value

 Is Krones undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Krones to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Krones.

BATS-CHIXE:KRND Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.2%
Perpetual Growth Rate 10-Year GB Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BATS-CHIXE:KRND
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 5.4%
Machinery Unlevered Beta Simply Wall St/ S&P Global 0.99
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.988 (1 + (1- 30%) (9.74%))
1.037
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.04
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.037 * 5.44%)
6.17%

Discounted Cash Flow Calculation for BATS-CHIXE:KRND using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Krones is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

BATS-CHIXE:KRND DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.17%)
2020 58.26 Analyst x5 54.87
2021 106.75 Analyst x5 94.71
2022 140.23 Analyst x4 117.17
2023 164.94 Est @ 17.62% 129.81
2024 185.55 Est @ 12.5% 137.55
2025 202.08 Est @ 8.91% 141.09
2026 215.00 Est @ 6.39% 141.39
2027 224.96 Est @ 4.63% 139.34
2028 232.61 Est @ 3.4% 135.71
2029 238.53 Est @ 2.54% 131.07
Present value of next 10 years cash flows €1,222.00
BATS-CHIXE:KRND DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €238.53 × (1 + 0.53%) ÷ (6.17% – 0.53%)
€4,251.35
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €4,251.35 ÷ (1 + 6.17%)10
€2,336.12
BATS-CHIXE:KRND Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,222.00 + €2,336.12
€3,558.12
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €3,558.12 / 31.59
€112.62
BATS-CHIXE:KRND Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:KRND represents 1.02735x of XTRA:KRN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.02735x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 112.62 x 1.02735
€115.70
Value per share (EUR) From above. €115.70
Current discount Discount to share price of €52.60
= -1 x (€52.60 - €115.70) / €115.70
54.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Krones is available for.
Intrinsic value
>50%
Share price is €52.6 vs Future cash flow value of €115.7
Current Discount Checks
For Krones to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Krones's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Krones's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Krones's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Krones's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:KRND PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.30
XTRA:KRN Share Price ** XTRA (2020-04-07) in EUR €51.2
United Kingdom of Great Britain and Northern Ireland Machinery Industry PE Ratio Median Figure of 18 Publicly-Listed Machinery Companies 13.69x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 13x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Krones.

BATS-CHIXE:KRND PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:KRN Share Price ÷ EPS (both in EUR)

= 51.2 ÷ 0.30

170.43x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Krones is overvalued based on earnings compared to the GB Machinery industry average.
  • Krones is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Krones's expected growth come at a high price?
Raw Data
BATS-CHIXE:KRND PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 170.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
58.4%per year
United Kingdom of Great Britain and Northern Ireland Machinery Industry PEG Ratio Median Figure of 13 Publicly-Listed Machinery Companies 2.03x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 518 Publicly-Listed Companies 1.02x

*Line of best fit is calculated by linear regression .

BATS-CHIXE:KRND PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 170.43x ÷ 58.4%

2.92x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Krones is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Krones's assets?
Raw Data
BATS-CHIXE:KRND PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €43.38
XTRA:KRN Share Price * XTRA (2020-04-07) in EUR €51.2
United Kingdom of Great Britain and Northern Ireland Machinery Industry PB Ratio Median Figure of 23 Publicly-Listed Machinery Companies 1.4x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.13x
BATS-CHIXE:KRND PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:KRN Share Price ÷ Book Value per Share (both in EUR)

= 51.2 ÷ 43.38

1.18x

* Primary Listing of Krones.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Krones is good value based on assets compared to the GB Machinery industry average.
X
Value checks
We assess Krones's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check)
  5. Krones has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

KRND Future Performance

 How is Krones expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
58.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Krones expected to grow at an attractive rate?
  • Krones's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Krones's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Krones's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:KRND Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:KRND Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 58.4%
BATS-CHIXE:KRND Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 2.9%
United Kingdom of Great Britain and Northern Ireland Machinery Industry Earnings Growth Rate Market Cap Weighted Average 19.3%
United Kingdom of Great Britain and Northern Ireland Machinery Industry Revenue Growth Rate Market Cap Weighted Average 2%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.6%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BATS-CHIXE:KRND Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:KRND Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 4,535 3
2023-12-31 4,381 3
2022-12-31 4,179 269 148 8
2021-12-31 4,009 239 127 10
2020-12-31 3,647 181 53 8
2020-04-08
BATS-CHIXE:KRND Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 4,022 94 9
2019-09-30 4,114 243 92
2019-06-30 4,007 171 107
2019-03-31 3,998 209 148
2018-12-31 3,904 315 151
2018-09-30 3,920 84 172
2018-06-30 3,753 85 183
2018-03-31 3,731 72 184
2017-12-31 3,740 -6 189
2017-09-30 3,597 164 172
2017-06-30 3,670 232 179
2017-03-31 3,572 234 176

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Krones's earnings are expected to grow significantly at over 20% yearly.
  • Krones's revenue is expected to grow by 2.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BATS-CHIXE:KRND Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Krones Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:KRND Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 4.67 5.82 3.48 7.00
2021-12-31 4.23 6.00 2.92 9.00
2020-12-31 1.66 2.51 0.62 7.00
2020-04-08
BATS-CHIXE:KRND Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 0.30
2019-09-30 2.90
2019-06-30 3.39
2019-03-31 4.73
2018-12-31 4.78
2018-09-30 5.46
2018-06-30 5.78
2018-03-31 5.80
2017-12-31 5.97
2017-09-30 5.43
2017-06-30 5.68
2017-03-31 5.57

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Krones is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Krones's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Krones has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

KRND Past Performance

  How has Krones performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Krones's growth in the last year to its industry (Machinery).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Krones's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Krones's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Krones's 1-year earnings growth is negative, it can't be compared to the GB Machinery industry average.
Earnings and Revenue History
Krones's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Krones Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:KRND Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 4,021.89 9.49 1,254.09
2019-09-30 4,114.40 91.88 1,260.11
2019-06-30 4,007.40 107.18 1,230.61
2019-03-31 3,998.00 148.48 1,196.81
2018-12-31 3,903.60 151.08 1,137.27
2018-09-30 3,919.51 172.26 1,147.88
2018-06-30 3,753.01 182.86 1,120.38
2018-03-31 3,730.81 183.66 1,104.38
2017-12-31 3,739.51 188.76 1,086.08
2017-09-30 3,596.51 171.75 1,058.01
2017-06-30 3,670.11 179.05 1,042.81
2017-03-31 3,571.71 176.05 1,027.51
2016-12-31 3,433.41 170.75 998.71
2016-09-30 3,321.24 163.53 973.67
2016-06-30 3,268.44 159.23 968.77
2016-03-31 3,245.04 161.03 952.17
2015-12-31 3,211.84 157.43 941.67
2015-09-30 3,095.62 149.88 924.52
2015-06-30 3,057.52 146.68 911.22
2015-03-31 3,025.22 141.18 888.52
2014-12-31 2,989.32 135.88 876.32
2014-09-30 2,988.13 132.84 870.62
2014-06-30 2,914.63 126.24 852.42
2014-03-31 2,876.23 122.44 841.92
2013-12-31 2,856.63 119.44 832.52
2013-09-30 2,841.30 113.75 824.12
2013-06-30 2,793.80 79.65 805.12

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Krones has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Krones used its assets less efficiently than the GB Machinery industry average last year based on Return on Assets.
  • Krones's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Krones's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Krones has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

KRND Health

 How is Krones's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Krones's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Krones is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Krones's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Krones's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 30x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Krones Company Filings, last reported 3 months ago.

BATS-CHIXE:KRND Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,370.03 72.24 110.38
2019-09-30 1,429.40 330.10 177.00
2019-06-30 1,422.70 253.10 144.40
2019-03-31 1,478.30 86.50 157.40
2018-12-31 1,433.21 3.72 218.80
2018-09-30 1,373.20 247.00 212.90
2018-06-30 1,355.50 135.00 184.70
2018-03-31 1,370.80 75.00 218.80
2017-12-31 1,330.11 24.62 182.00
2017-09-30 1,266.60 122.70 200.60
2017-06-30 1,240.80 30.00 190.40
2017-03-31 1,273.10 0.00 256.10
2016-12-31 1,225.53 0.00 368.89
2016-09-30 1,173.20 94.30 216.10
2016-06-30 1,131.60 65.00 214.60
2016-03-31 1,142.70 0.00 249.50
2015-12-31 1,110.72 0.00 364.59
2015-09-30 1,042.30 0.00 253.70
2015-06-30 1,029.00 0.00 274.90
2015-03-31 1,036.60 0.00 280.20
2014-12-31 988.50 0.00 336.44
2014-09-30 959.80 0.00 207.10
2014-06-30 945.20 0.00 157.20
2014-03-31 977.90 0.00 199.80
2013-12-31 954.18 0.00 239.88
2013-09-30 897.60 1.40 121.80
2013-06-30 882.90 0.00 128.60
  • Krones's level of debt (5.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 5.3% today).
  • Debt is well covered by operating cash flow (129.5%, greater than 20% of total debt).
  • Krones earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Krones's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Krones has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

KRND Dividends

 What is Krones's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.46%
Current annual income from Krones dividends. Estimated to be 2.02% next year.
If you bought €2,000 of Krones shares you are expected to receive €29 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Krones's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.51%).
  • Krones's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (6.87%).
Upcoming dividend payment

Purchase Krones before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BATS-CHIXE:KRND Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Machinery Industry Average Dividend Yield Market Cap Weighted Average of 19 Stocks 3.3%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 588 Stocks 5.5%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.3%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.5%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 6.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BATS-CHIXE:KRND Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 1.40 7.00
2021-12-31 1.18 10.00
2020-12-31 0.54 8.00
2020-04-08
BATS-CHIXE:KRND Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-03-12 0.750 1.587
2019-03-21 1.700 2.704
2018-03-15 1.700 1.893
2017-03-23 1.550 1.428
2016-04-28 1.450 1.576
2016-03-17 1.450 1.396
2015-06-17 1.250 1.245
2014-04-30 1.000 1.269
2013-03-28 0.750 1.226
2013-01-15 0.750 1.521
2012-03-30 0.600 1.460
2012-01-16 0.600 1.438
2011-03-29 0.400 0.899
2010-10-27 0.000 0.000
2010-07-28 0.000 0.000
2010-07-15 0.000 0.000
2010-03-31 0.000 0.000
2010-01-04 0.000 0.000
2009-04-28 0.600 1.912

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Krones's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
X
Income/ dividend checks
We assess Krones's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Krones afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Krones has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

KRND Management

 What is the CEO of Krones's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Christoph Klenk
COMPENSATION €829,000
AGE 56
TENURE AS CEO 4.3 years
CEO Bio

Mr. Christoph Klenk has been Chief Executive Officer and Chairman of the Executive Board at Krones Ag since January 1, 2016. Mr. Klenk served as an Interim Chief Financial Officer of Krones AG since July 24, 2019 until January 1, 2020. He served as Chief Financial Officer at Krones Ag since 2012 until January 1, 2016. Mr. Klenk served as Head of Research and Development, Engineering & Product Divisions. He served as Deputy Board Member of Krones AG since January 1, 2003. Mr. Klenk is a mechanical engineer who joined Krones in 1994. Mr. Klenk is a Graduate Engineer in Mechanical Engineering (FH).

CEO Compensation
  • Christoph's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Christoph's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Krones management team in years:

5.6
Average Tenure
51
Average Age
  • The average tenure for the Krones management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Christoph Klenk

TITLE
Chairman of Executive Board & CEO
COMPENSATION
€829K
AGE
56
TENURE
4.3 yrs

Thomas Ricker

TITLE
Chief Sales Officer & Member of Executive Board
COMPENSATION
€562K
AGE
51
TENURE
8.3 yrs

Markus Tischer

TITLE
Member of Executive Board
COMPENSATION
€497K
AGE
51
TENURE
6.3 yrs

Ralf Goldbrunner

TITLE
Member of Executive Board
COMPENSATION
€511K
AGE
49
TENURE
5.6 yrs

Klaus Gerlach

TITLE
Head of Central Intrl Ops & Services and Emp. Rep. Member of Supervisory Board
COMPENSATION
€41K

Norbert Broger

TITLE
CFO & Member of Executive Board
AGE
57
TENURE
0.3 yrs

Olaf Scholz

TITLE
Head of Investor Relations

Roland Pokorny

TITLE
Head of Corporate Communications

Ulrich Noll

TITLE
Head of Finance & Administration - Africa/Middle East

Ingrid Reuschl

TITLE
Head of Public Relations
Board of Directors Tenure

Average tenure and age of the Krones board of directors in years:

7.3
Average Tenure
58
Average Age
  • The tenure for the Krones board of directors is about average.
Board of Directors

Volker Kronseder

TITLE
Chairman of Supervisory Board
COMPENSATION
€110K
AGE
66
TENURE
3.8 yrs

Werner Schrödl

TITLE
Employee Representative Deputy Chairman of the Supervisory Board
COMPENSATION
€75K
TENURE
12.8 yrs

Klaus Gerlach

TITLE
Head of Central Intrl Ops & Services and Emp. Rep. Member of Supervisory Board
COMPENSATION
€41K

Hans-Jürgen Thaus

TITLE
Member of Supervisory Board
COMPENSATION
€54K
AGE
70
TENURE
5.8 yrs

Norman Kronseder

TITLE
Member of Supervisory Board
COMPENSATION
€57K
AGE
57

Josef Weitzer

TITLE
Employee Representative Member of Supervisory Board
COMPENSATION
€57K
TENURE
12.8 yrs

Jürgen Scholz

TITLE
Employee Representative Member of the Supervisory Board
COMPENSATION
€51K
AGE
58
TENURE
12.8 yrs

Petra Schadeberg-Herrmann

TITLE
Member of Supervisory Board
COMPENSATION
€41K
AGE
52
TENURE
8.8 yrs

Verena Di Pasquale

TITLE
Employee Representative Member of Supervisory Board
COMPENSATION
€41K
TENURE
5.8 yrs

Susanne Nonnast

TITLE
Member of Supervisory Board
COMPENSATION
€41K
TENURE
3.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Krones's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Krones has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

KRND News

Simply Wall St News

KRND Company Info

Description

Krones AG, together with its subsidiaries, engages in planning, developing, and manufacturing machinery and systems for the fields of process technology, filling and packaging technology, and intralogistics in Germany and internationally. It operates in two segments, Machines and Lines for Product Filling and Decoration, and Machines and Lines for Beverage Production/Process Technology. The company provides plant engineering solutions, such as planning new plants, plant expansion, plant structural planning, and energy and media optimization; and process technology systems for use in beer, soft drink, water, milk, wine, spirit, juice, and dairy products. It also provides filling technology products for bottle design, stretch blow moulder, PET recycling, bottle washing machine, filling technology, inspection technology, labeling, conveyor, product treatment, and block technology applications; and packaging, palletizing, block, and robot technology products. In addition, the company offers intralogistics solutions, such as warehouse management systems, in-house solutions, and order picking systems for the food and beverage industries; and IT solutions, including manufacturing execution system, process control system, and warehouse management systems for the beverage and food industry. It serves breweries; water, soft drink, and juice manufacturers; dairies; producers of wine, sparkling wine, and spirits or companies from the liquid-food field; and companies from the food, chemical, pharmaceutical, and cosmetic industries. Krones AG was founded in 1951 and is headquartered in Neutraubling, Germany.

Details
Name: Krones AG
KRND
Exchange: BATS-CHIXE
Founded: 1951
€1,655,476,972
31,593,072
Website: http://www.krones.com
Address: Krones AG
Böhmerwaldstrasse 5,
Neutraubling,
Bavaria, 93073,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA KRN Ordinary Shares XETRA Trading Platform DE EUR 09. Sep 1998
OTCPK KRNN.F Ordinary Shares Pink Sheets LLC US USD 09. Sep 1998
DB KRN Ordinary Shares Deutsche Boerse AG DE EUR 09. Sep 1998
LSE 0LQ4 Ordinary Shares London Stock Exchange GB EUR 09. Sep 1998
SWX KRN Ordinary Shares SIX Swiss Exchange CH CHF 09. Sep 1998
WBAG KRN Ordinary Shares Wiener Boerse AG AT EUR 09. Sep 1998
ETLX KRN Ordinary Shares Eurotlx IT EUR 09. Sep 1998
BATS-CHIXE KRND Ordinary Shares BATS 'Chi-X Europe' GB EUR 09. Sep 1998
OTCPK KRNT.Y UNSPONSORED ADR Pink Sheets LLC US USD 20. Aug 2008
Number of employees
Current staff
Staff numbers
17,353
Krones employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 19:39
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/06
Last earnings filing: 2020/03/12
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.