Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
KHD Humboldt Wedag International AG is a Germany-based engineering company specializing in cement plant technology, equipment, and services for the global cement industry. Founded in 1856 with roots in the German Rhineland, it supplies machinery such as rotary kilns, preheaters, clinker coolers, roller presses, and grinding systems, along with automation solutions, spare parts, process engineering, and project management. The company operates through two main segments: Capex, focusing on design, engineering, and supply of technical equipment including pyro processing and system automation; and Plant Services, providing maintenance, inspections, audits, refurbishments, and digital optimization tools like Rolcox, Scanex-IC, and KHD ProMax. Headquartered in Cologne, it employs around 850-974 people worldwide, with subsidiaries in key markets including India, North America, Asia-Pacific, and EMENA regions. KHD emphasizes sustainable innovations to reduce emissions, enable alternative fuel use, and support decarbonization efforts toward net-zero cement production, leveraging over 160 years of expertise and a Center of Excellence for R&D.
Operating margin is thin at 3.29%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 18.4% YoY. The question is whether this is cyclical or a structural shift.
ROIC dropped from 6.99% to 3.15%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
€178M
▼ -18.4% YoY
Net Income (TTM)
€7M
▼ -34.4% YoY
Op. Margin
3.29%
▼ -1.9pp YoY
ROIC
3.15%
▼ -3.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€12M
▲ +11.3% YoY
Op. Cash Flow (TTM)
€22M
▲ +71.7% YoY
Net Debt
-€83M
Net Cash Position
Cash & Equiv.
€91M
3Y CAGR: -5.4%
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