- Companies
- KNDS
KNDS Revenue, Valuation, Funding & Investors
KNDS is valued at $20B as of June 2026, a 4.3x multiple on its last reported $4.7B revenue.
Last KNDS valuation
$20B
Secondary · Jun 2026
KNDS revenue
$4.7B
Secondary · Jun 2026
Key investors in KNDS
Government of Germany
About KNDS
KNDS provides equipment and systems for the land defense industry. The company, founded in 2015 and based in Amsterdam, Netherlands, is an alliance that supplies goods to armed forces.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2G
Revenue model
Product sales
Revenue
$4.7B (Jun 2026)
Valuation
$20B (Jun 2026)
Sectors
KNDS Valuation
KNDS is currently valued at $20B, based on its secondary sale in June 2026.
The round included Government of Germany.
KNDS valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2026 | Secondary | $20B | 4.3x |
KNDS Revenue
KNDS's latest recorded revenue is $4.7B, as of its secondary sale in June 2026. At a $20B valuation, that implies a 4.3x revenue multiple.
KNDS revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2026 | $4.7B | $20B | 4.3x | Secondary |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
KNDS Funding History
KNDS has 1 recorded secondary share sale and no primary funding rounds.
| Date | Stage | Investors | Valuation | Deal Summary |
|---|---|---|---|---|
| Jun 2026 | Secondary | Government of Germany | $20B | The German government agreed to acquire a 40% stake in tank manufacturer KNDS NV from family owners (Wegmann & Co), valuing the company between €15 billion and €18 billion (midpoint €16.5 billion), with an estimated investment of €6 billion to €7 billion. The transaction, executed via Kreditanstalt für Wiederaufbau (KfW), clears the final barrier for KNDS's full secondary IPO, scheduled before France's summer recess on July 13, 2026, with listings in Frankfurt and Paris. The deal aims to balance ownership equity between Germany and France, granting Germany equal rights to the French state even after its stake potentially reduces to 30% within 2–3 years. KNDS, formed by the merger of Germany's KMW (Leopard tank producer) and France's Nexter (Leclerc tank producer), targets 30% revenue growth in 2026 versus 2025 driven by defense demand, with Free Cash Flow exceeding €250 million and €750 million in PPE Capex focused on expanding Land Systems Germany. Family owners plan to divest their entire 50% stake via the IPO, while 10% of remaining family shares and 10% of French shares will be offered to institutional investors. |
Who has invested in KNDS?
1 investor has backed KNDS across its funding rounds, including Government of Germany.
KNDS Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 KNDS investors. Start Free Trial | ||||
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Start Free TrialInvestments by KNDS
KNDS has invested in 1 company to date.
Latest investment by KNDS was on July 28th 2025. KNDS invested in RENK Group in their Secondary round.
Latest Investments by KNDS
| Description | RENK Group AG provides vehicle mobility solutions. Its propulsion and drivetrain technology ensures the reliable deployment of forces to set vehicles, vessels, and machinery in motion. The company's business is divided into the following segments; Vehicle Mobility Solutions, Marine and Industry, and Slide Bearings. The Vehicle Mobility Solutions segment which generates maximum revenue, provides technology for the deployment of forces to set vehicles, vessels, and machinery in motion, and also offers products like engines, suspensions, electric drives, and power packs for military vehicles and test systems. Geographically, the company generates maximum revenue from Germany and the rest from America, Asia, Africa, other European countries, Other EU countries, and Australia and Oceania. |
| HQ Country | |
| HQ City | Augsburg |
| Deal Date | 28 Jul 2025 |
| Round | Secondary |
| Raised | undisclosed |
| Investors | - |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all KNDS investments and their VC round multiples. Start Free Trial | |
KNDS Competitors
KNDS competitors include listed companies like Curtiss-Wright, Czechoslovak Group, ST Engineering and Dassault Aviation, and private ones like Helsing and Castelion.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $3.5B | $789M | $21B | 5.8x | ||
| Publicly listed | $7.8B | $1.9B | $19B | 2.6x | ||
| Private | $502M | - | $18B | 35.9x | ||
| Publicly listed | $9.7B | $1.1B | $25B | 2.8x | ||
| Publicly listed | $8.6B | $1.6B | $26B | 1.5x | ||
| Private | - | - | $13B | - |
KNDS Public Comps
KNDS is still privately-owned, but its public comps include Curtiss-Wright, Czechoslovak Group, ST Engineering, Dassault Aviation, BWX Technologies, Embraer, Indra Sistemas, Teledyne, AVIC Chengdu Aircraft and Moog.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $3.5B | $789M | 6.2x | 5.8x | 27.4x | 26.1x | |||
| $7.8B | $1.9B | 2.8x | 2.6x | 11.6x | 9.6x | |||
| $9.7B | $1.1B | 3.0x | 2.8x | 25.8x | 19.9x | |||
| $8.6B | $1.6B | 1.7x | 1.5x | 9.1x | 12.8x | |||
| $3.2B | $548M | 4.6x | 4.1x | 27.1x | 23.3x | |||
| $7.6B | $604M | 1.8x | 1.7x | 23.2x | 13.4x | |||
| $6.3B | $695M | 2.0x | 1.6x | 17.7x | 12.1x | |||
| $6.1B | $1.5B | 4.8x | 4.6x | 19.9x | 18.5x | |||
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Common questions about KNDS
| When was KNDS founded? | KNDS was founded in 2015. |
| Where is KNDS headquartered? | KNDS is headquartered in Amsterdam, Netherlands. |
| Is KNDS publicly listed? | No, KNDS is a private, VC-backed company. |
| What is KNDS's valuation? | KNDS was last valued at $20B in its secondary sale in June 2026. |
| Who are KNDS's investors? | KNDS's investors include Government of Germany. |
| What is KNDS's revenue? | KNDS's latest recorded revenue is $4.7B (June 2026). |
| What is KNDS's revenue multiple? | KNDS's latest valuation implies a 4.3x revenue multiple ($20B valuation on $4.7B of revenue). |
| Which companies are comparable to KNDS? | Companies comparable to KNDS include Curtiss-Wright, Czechoslovak Group, Helsing, ST Engineering, Dassault Aviation and Castelion. |
| How many companies has KNDS invested in? | KNDS has invested in 1 company, including RENK Group. |
| What was KNDS's last investment? | In July 2025, KNDS invested in RENK Group's secondary sale. |
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