CYAN AG (CYR.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:CYR • DE000A2E4SV8

2.12 EUR

-0.16 (-7.02%)

Last: Jan 30, 2026, 07:00 PM

Fundamental Rating

We assign a fundamental rating of 3 out of 10 to CYR. CYR was compared to 114 industry peers in the Software industry. CYR scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. CYR is valied quite expensively at the moment, while it does show a decent growth rate.

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1. Profitability

1.1 Basic Checks

In the past year CYR has reported negative net income.
In the past year CYR has reported a negative cash flow from operations.
CYR had negative earnings in each of the past 5 years.
In the past 5 years CYR always reported negative operating cash flow.

1.2 Ratios

The Return On Assets of CYR (-6.26%) is worse than 73.68% of its industry peers.
CYR has a Return On Equity of -7.08%. This is in the lower half of the industry: CYR underperforms 64.04% of its industry peers.

		Industry Rank	Sector Rank
ROA	-6.26%
ROE	-7.08%
ROIC	N/A

ROA(3y)-27.68%

ROA(5y)-21.43%

ROE(3y)-36.79%

ROE(5y)-28.44%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

With a decent Gross Margin value of 84.83%, CYR is doing good in the industry, outperforming 79.82% of the companies in the same industry.
In the last couple of years the Gross Margin of CYR has declined.
The Profit Margin and Operating Margin are not available for CYR so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	N/A
GM	84.83%

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y44.24%

GM growth 5Y-3.74%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

CYR does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for CYR has been reduced compared to 1 year ago.
CYR has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, CYR has a worse debt to assets ratio.

2.2 Solvency

CYR has an Altman-Z score of 5.75. This indicates that CYR is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 5.75, CYR is in the better half of the industry, outperforming 76.32% of the companies in the same industry.
A Debt/Equity ratio of 0.05 indicates that CYR is not too dependend on debt financing.
CYR has a better Debt to Equity ratio (0.05) than 80.70% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.05
Debt/FCF	N/A
Altman-Z	5.75

ROIC/WACCN/A

WACC7.62%

2.3 Liquidity

CYR has a Current Ratio of 2.24. This indicates that CYR is financially healthy and has no problem in meeting its short term obligations.
With a decent Current ratio value of 2.24, CYR is doing good in the industry, outperforming 78.07% of the companies in the same industry.
CYR has a Quick Ratio of 2.24. This indicates that CYR is financially healthy and has no problem in meeting its short term obligations.
With a decent Quick ratio value of 2.24, CYR is doing good in the industry, outperforming 78.07% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	2.24
Quick Ratio	2.24

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

CYR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 86.12%, which is quite impressive.
Looking at the last year, CYR shows a very strong growth in Revenue. The Revenue has grown by 98.99%.
The Revenue for CYR have been decreasing by -23.31% on average. This is quite bad

EPS 1Y (TTM)86.12%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%80%

Revenue 1Y (TTM)98.99%

Revenue growth 3Y-5.78%

Revenue growth 5Y-23.31%

Sales Q2Q%36.96%

3.2 Future

The Earnings Per Share is expected to grow by 34.17% on average over the next years. This is a very strong growth
Based on estimates for the next years, CYR will show a very strong growth in Revenue. The Revenue will grow by 21.67% on average per year.

EPS Next Y78.57%

EPS Next 2Y42.5%

EPS Next 3Y17.9%

EPS Next 5Y34.17%

Revenue Next Year31.65%

Revenue Next 2Y27.23%

Revenue Next 3Y38.85%

Revenue Next 5Y21.67%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for CYR. In the last year negative earnings were reported.
The Price/Forward Earnings ratio is 419.80, which means the current valuation is very expensive for CYR.
Compared to the rest of the industry, the Price/Forward Earnings ratio of CYR indicates a slightly more expensive valuation: CYR is more expensive than 68.42% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 25.57. CYR is valued rather expensively when compared to this.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	419.8

4.2 Price Multiples

67.54% of the companies in the same industry are cheaper than CYR, based on the Enterprise Value to EBITDA ratio.

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	127.47

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
CYR's earnings are expected to grow with 17.90% in the coming years. This may justify a more expensive valuation.