Kion Group AG

KGX.DE

Industrial - Machinery · Industrials

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Strong

Stability

Good

Valuation

Strong

Dividends

Weak

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Winston Score History

The full picture

Kion Group AG is a German company that makes forklifts, warehouse robots, and other equipment used to move goods inside warehouses and factories. Its main brands include Linde Material Handling and STILL, which sell to manufacturers, retailers, and logistics companies around the world. Kion is one of the two largest forklift manufacturers globally, competing closely with Toyota Industries.

The company earns money by selling and leasing forklifts, providing maintenance services, and licensing software through its Dematic division, which builds automated warehouse systems. Kion operates primarily in Europe but has a significant presence in North America and Asia, generating roughly €11 billion in annual revenue. Its large installed base of equipment creates a steady stream of service and parts revenue, but the business is sensitive to industrial spending cycles, and rising interest rates have slowed customer investment in new warehouse automation projects, which remains the key near-term risk.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+7.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+19.4% YoY

YoY Growth Rate

Steady EPS growth

Insider Activity

46.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~19 months

€3.2B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Growth context

Kion Group AG is growing revenue at 8% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

24.8%

Thin — 24.8% gross margin

Profit after running costs

Operating Margin

6.7%

Modest — 6.7% operating margin

Return on the money invested

ROCE

8.0%

Weak — 8.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+2.0%

Nearly flat sales (+2.0% YoY)

Profit growth

EPS YoY

+67.6%

Earnings growing fast (+67.6% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

122%

Turns 122% of profit into real cash

Spare cash per sale

FCF Margin

0.8%

Thin free cash flow (0.8%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.50

Conservative — low debt load (0.50)

Covers its interest

Interest Cover

2.39x

Tight — interest eats into profit (2.4x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

13.5x

no trend

Attractive valuation — P/E 13.5

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+5.6

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (13.5 → 7.8)

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Dividends

Dividend

Dividend Yield

1.54%

no trend

Small dividend — 1.54% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

-26.0%

no trend

Dividend cut (-26.0% YoY) — warning sign

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