Added to YB: 2026-05-21
Pitch date: 2026-05-18
KSB.DE [bullish]
KSB SE & Co. KGaA
-5.16%
current return
Author Info
No bio for this author
Company Info
KSB SE & Co. KGaA, together with its subsidiaries, supplies pumps, valves, and related services worldwide.
Market Cap
EUR 1.5B
Pitch Price
EUR 930.00
Price Target
1.5K (+62%)
Dividend
2.89%
EV/EBITDA
4.30
P/E
11.41
EV/Sales
0.49
Sector
Machinery
Category
value
KSB SE & CO: Pumping up the Supercycle
KSB.DE: German pump/valve maker positioned across 4 pillars of AI capex supercycle: nuclear (€150M+ reactor coolant order, monopoly in India), gas power plants (sold-out cycle, €14-23M per 1GW plant), mining (copper deficit driving slurry pump demand), LNG (cryogenic valve leader). SupremeServ aftermarket 18% margin drives leverage. Mission TEN30 targets €4B orders, 10% EBIT margin by 2030 vs 8.3% today. Trades 4.7x EV/EBIT vs 14x peer median despite 12.1% ROIC. 40.5% stake in KSB Limited India worth ~€560M vs €1.45B parent market cap. Base case €1,120 target (+36%), bull €1,465 (+78%). Risks: Iran conflict, hyperscaler capex correction, SAP migration. 3.2% yield, net cash €315M.
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