NORDEX SE (NDX1.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:NDX1 • DE000A0D6554

34.38 EUR

+0.58 (+1.72%)

Last: Feb 2, 2026, 03:15 PM

Fundamental Rating

Overall NDX1 gets a fundamental rating of 4 out of 10. We evaluated NDX1 against 67 industry peers in the Electrical Equipment industry. While NDX1 seems to be doing ok healthwise, there are quite some concerns on its profitability. NDX1 has a decent growth rate and is not valued too expensively.

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1. Profitability

1.1 Basic Checks

In the past year NDX1 was profitable.
In the past year NDX1 had a positive cash flow from operations.
In the past 5 years NDX1 reported 4 times negative net income.
The reported operating cash flow has been mixed in the past 5 years: NDX1 reported negative operating cash flow in multiple years.

1.2 Ratios

The Return On Assets of NDX1 (1.84%) is comparable to the rest of the industry.
NDX1's Return On Equity of 10.10% is in line compared to the rest of the industry. NDX1 outperforms 58.21% of its industry peers.
Looking at the Return On Invested Capital, with a value of 5.51%, NDX1 is in line with its industry, outperforming 52.24% of the companies in the same industry.

		Industry Rank	Sector Rank
ROA	1.84%
ROE	10.1%
ROIC	5.51%

ROA(3y)-5.3%

ROA(5y)-4.89%

ROE(3y)-28.94%

ROE(5y)-25.05%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

NDX1 has a Profit Margin (1.50%) which is comparable to the rest of the industry.
NDX1 has a Operating Margin of 4.14%. This is comparable to the rest of the industry: NDX1 outperforms 46.27% of its industry peers.
In the last couple of years the Operating Margin of NDX1 has grown nicely.
NDX1 has a Gross Margin of 14.32%. This is amonst the worse of the industry: NDX1 underperforms 85.07% of its industry peers.
NDX1's Gross Margin has declined in the last couple of years.

		Industry Rank	Sector Rank
OM	4.14%
PM (TTM)	1.5%
GM	14.32%

OM growth 3YN/A

OM growth 5Y57.84%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y19.47%

GM growth 5Y-2.61%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NDX1 is destroying value.
Compared to 1 year ago, NDX1 has about the same amount of shares outstanding.
The number of shares outstanding for NDX1 has been increased compared to 5 years ago.
NDX1 has a worse debt/assets ratio than last year.

2.2 Solvency

An Altman-Z score of 2.39 indicates that NDX1 is not a great score, but indicates only limited risk for bankruptcy at the moment.
NDX1's Altman-Z score of 2.39 is in line compared to the rest of the industry. NDX1 outperforms 55.22% of its industry peers.
There is no outstanding debt for NDX1. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.

		Industry Rank	Sector Rank
Debt/Equity	0
Debt/FCF	0.06
Altman-Z	2.39

ROIC/WACC0.66

WACC8.35%

2.3 Liquidity

A Current Ratio of 1.04 indicates that NDX1 should not have too much problems paying its short term obligations.
With a Current ratio value of 1.04, NDX1 is not doing good in the industry: 79.10% of the companies in the same industry are doing better.
NDX1 has a Quick Ratio of 1.04. This is a bad value and indicates that NDX1 is not financially healthy enough and could expect problems in meeting its short term obligations.
NDX1 has a worse Quick ratio (0.77) than 62.69% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	1.04
Quick Ratio	0.77

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

NDX1 shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 360.00%, which is quite impressive.
NDX1 shows a small growth in Revenue. In the last year, the Revenue has grown by 1.27%.
Measured over the past years, NDX1 shows a quite strong growth in Revenue. The Revenue has been growing by 17.32% on average per year.

EPS 1Y (TTM)360%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%2100%

Revenue 1Y (TTM)1.27%

Revenue growth 3Y10.27%

Revenue growth 5Y17.32%

Sales Q2Q%2.09%

3.2 Future

NDX1 is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 163.17% yearly.
NDX1 is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.47% yearly.

EPS Next Y2508.47%

EPS Next 2Y481.58%

EPS Next 3Y243.2%

EPS Next 5Y163.17%

Revenue Next Year2.52%

Revenue Next 2Y5.92%

Revenue Next 3Y5.88%

Revenue Next 5Y5.47%

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

NDX1 is valuated quite expensively with a Price/Earnings ratio of 74.74.
NDX1's Price/Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Earnings ratio of 28.32, NDX1 is valued quite expensively.
NDX1 is valuated quite expensively with a Price/Forward Earnings ratio of 25.41.
NDX1's Price/Forward Earnings is on the same level as the industry average.
NDX1 is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 25.57, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	74.74
Fwd PE	25.41

4.2 Price Multiples

NDX1's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. NDX1 is cheaper than 67.16% of the companies in the same industry.
NDX1's Price/Free Cash Flow ratio is rather cheap when compared to the industry. NDX1 is cheaper than 85.07% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	14.74
EV/EBITDA	13.75

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
NDX1's earnings are expected to grow with 243.20% in the coming years. This may justify a more expensive valuation.