Analysis: All eyes on 2024 but already DHL smells (a lot) of break-up value
…the parts have seldom been more compelling
The recent nine-month performance of Switzerland’s Kuehne + Nagel continues to beg the question as to whether the Swiss forwarder is delivering the best value to shareholders, despite stock that offers the highest forward yield in the freight and logistics industry, to my knowledge.
Earnings rose between January and the end of September, but underlying cash flows were marginally lower, year-on-year, as the table below shows. K+N invested less than in 2015 on a comparable basis, while its cash balances fell to ...