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1. Company Snapshot

1.a. Company Description

Knaus Tabbert AG, together with its subsidiaries, manufactures and sells leisure vehicles in Europe.It operates through Premium and Luxury segments.The company offers motorhomes, caravans, and camper vans under the KNAUS, TABBERT, WEINSBERG, T@B, and MORELO brands.


It also operates RENT AND TRAVEL, an internet platform for renting leisure vehicles through a network of dealers operating approximately 180 rental stations.The company was founded in 1912 and is headquartered in Jandelsbrunn, Germany.

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1.b. Last Insights on KTA

Knaus Tabbert AG's recent performance was positively driven by a fair value estimate of €30.87, suggesting the company is undervalued. According to a recent report, the company's intrinsic value is significantly higher than its current trading price. Additionally, the 2 Stage Free Cash Flow to Equity model supports a bullish outlook. With no recent earnings release or announcements on share buybacks, acquisitions, or new product launches, the focus remains on the company's valuation and potential for growth. (Source: 2 Stage Free Cash Flow to Equity model)

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Knaus Tabbert AG (ETR:KTA) Just Reported Third-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?

Nov -15

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Knaus Tabbert (ETR:KTA) investors are sitting on a loss of 69% if they invested five years ago

Oct -27

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At €17.32, Is It Time To Put Knaus Tabbert AG (ETR:KTA) On Your Watch List?

Oct -06

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Is Knaus Tabbert AG (ETR:KTA) Trading At A 40% Discount?

Sep -16

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At €14.28, Is Knaus Tabbert AG (ETR:KTA) Worth Looking At Closely?

Feb -08

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Is There An Opportunity With Knaus Tabbert AG's (ETR:KTA) 48% Undervaluation?

Jan -22

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Knaus Tabbert AG (ETR:KTA) Just Reported, And Analysts Assigned A €33.40 Price Target

Nov -10

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Should You Think About Buying Knaus Tabbert AG (ETR:KTA) Now?

Aug -26

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.77%)

6. Segments

Premium

Expected Growth: 8%

Knaus Tabbert AG's 8% premium growth is driven by increasing demand for recreational vehicles, particularly in the European market. The company's focus on innovative products, such as its caravan and motorhome offerings, has resonated with consumers. Additionally, strategic partnerships and expansion into new markets have contributed to the company's growth momentum.

Luxury

Expected Growth: 6%

Knaus Tabbert AG's luxury segment growth is driven by increasing demand for premium RVs, particularly in Europe and North America. Rising disposable incomes, aging population, and desire for experiential travel are key factors. Additionally, the company's focus on innovative designs, high-quality materials, and advanced technology features have contributed to its success in the luxury market.

7. Detailed Products

Caravans

Knaus Tabbert AG offers a wide range of caravans designed for comfort and flexibility, suitable for families, couples, and solo travelers.

Motorhomes

The company's motorhomes are designed for freedom and flexibility, offering a range of layouts and features to suit different needs and preferences.

Campervans

Knaus Tabbert AG's campervans are compact, versatile, and easy to maneuver, perfect for short trips and spontaneous getaways.

Truck Campers

The company's truck campers offer a unique blend of comfort and adventure, allowing users to explore off-the-beaten-path destinations.

Van Conversions

Knaus Tabbert AG's van conversions offer a range of bespoke solutions for individuals and families, tailored to their specific needs and preferences.

8. Knaus Tabbert AG's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Knaus Tabbert AG is moderate due to the presence of alternative recreational vehicles and travel options.

Bargaining Power Of Customers

The bargaining power of customers is low due to the specialized nature of Knaus Tabbert AG's products and the lack of price sensitivity among customers.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate due to the presence of multiple suppliers and the company's ability to negotiate prices.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the recreational vehicle industry, including high capital requirements and regulatory hurdles.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of established competitors and the need for Knaus Tabbert AG to differentiate itself through product innovation and marketing.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 56.20%
Debt Cost 5.33%
Equity Weight 43.80%
Equity Cost 9.35%
WACC 7.09%
Leverage 128.29%

11. Quality Control: Knaus Tabbert AG passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Knaus Tabbert

A-Score: 3.0/10

Value: 8.7

Growth: 1.7

Quality: 1.9

Yield: 3.8

Momentum: 0.5

Volatility: 1.3

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A-Score: 2.1/10

Value: 8.7

Growth: 0.3

Quality: 1.8

Yield: 1.2

Momentum: 0.0

Volatility: 0.3

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

13.74$

Current Price

13.74$

Potential

-0.00%

Expected Cash-Flows