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VESTAS WIND SYSTEMS A/S (VWSB.DE) Stock Fundamental Analysis

Europe - FRA:VWSB - DK0061539921 - Common Stock

17.13 EUR
-0.5 (-2.84%)
Last: 10/17/2025, 7:00:00 PM
Fundamental Rating

4

Overall VWSB gets a fundamental rating of 4 out of 10. We evaluated VWSB against 64 industry peers in the Electrical Equipment industry. There are concerns on the financial health of VWSB while its profitability can be described as average. VWSB may be a bit undervalued, certainly considering the very reasonable score on growth


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

VWSB had positive earnings in the past year.
VWSB had a positive operating cash flow in the past year.
VWSB had positive earnings in 4 of the past 5 years.
VWSB had a positive operating cash flow in 4 of the past 5 years.
VWSB.DE Yearly Net Income VS EBIT VS OCF VS FCFVWSB.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B

1.2 Ratios

With a decent Return On Assets value of 2.98%, VWSB is doing good in the industry, outperforming 68.75% of the companies in the same industry.
The Return On Equity of VWSB (24.53%) is better than 85.94% of its industry peers.
The Return On Invested Capital of VWSB (9.33%) is better than 75.00% of its industry peers.
Industry RankSector Rank
ROA 2.98%
ROE 24.53%
ROIC 9.33%
ROA(3y)-1.82%
ROA(5y)-0.11%
ROE(3y)-11.65%
ROE(5y)-3.13%
ROIC(3y)N/A
ROIC(5y)N/A
VWSB.DE Yearly ROA, ROE, ROICVWSB.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 -40

1.3 Margins

VWSB's Profit Margin of 4.11% is fine compared to the rest of the industry. VWSB outperforms 70.31% of its industry peers.
VWSB's Profit Margin has declined in the last couple of years.
With a Operating Margin value of 5.73%, VWSB perfoms like the industry average, outperforming 59.38% of the companies in the same industry.
VWSB's Operating Margin has declined in the last couple of years.
The Gross Margin of VWSB (13.13%) is worse than 81.25% of its industry peers.
In the last couple of years the Gross Margin of VWSB has declined.
Industry RankSector Rank
OM 5.73%
PM (TTM) 4.11%
GM 13.13%
OM growth 3Y16.4%
OM growth 5Y-12.13%
PM growth 3Y49.72%
PM growth 5Y-13.02%
GM growth 3Y6.01%
GM growth 5Y-3.88%
VWSB.DE Yearly Profit, Operating, Gross MarginsVWSB.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20

3

2. Health

2.1 Basic Checks

VWSB has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for VWSB remains at a similar level compared to 1 year ago.
VWSB has more shares outstanding than it did 5 years ago.
VWSB has a better debt/assets ratio than last year.
VWSB.DE Yearly Shares OutstandingVWSB.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
VWSB.DE Yearly Total Debt VS Total AssetsVWSB.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

2.2 Solvency

Based on the Altman-Z score of 1.49, we must say that VWSB is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of VWSB (1.49) is comparable to the rest of the industry.
The Debt to FCF ratio of VWSB is 2.96, which is a good value as it means it would take VWSB, 2.96 years of fcf income to pay off all of its debts.
VWSB has a Debt to FCF ratio of 2.96. This is in the better half of the industry: VWSB outperforms 79.69% of its industry peers.
VWSB has a Debt/Equity ratio of 0.84. This is a neutral value indicating VWSB is somewhat dependend on debt financing.
VWSB's Debt to Equity ratio of 0.84 is on the low side compared to the rest of the industry. VWSB is outperformed by 65.63% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.84
Debt/FCF 2.96
Altman-Z 1.49
ROIC/WACC1.42
WACC6.58%
VWSB.DE Yearly LT Debt VS Equity VS FCFVWSB.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B 3B 4B

2.3 Liquidity

A Current Ratio of 0.96 indicates that VWSB may have some problems paying its short term obligations.
VWSB has a worse Current ratio (0.96) than 81.25% of its industry peers.
A Quick Ratio of 0.56 indicates that VWSB may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.56, VWSB is doing worse than 85.94% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.96
Quick Ratio 0.56
VWSB.DE Yearly Current Assets VS Current LiabilitesVWSB.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

6

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 1600.00% over the past year.
Measured over the past years, VWSB shows a decrease in Earnings Per Share. The EPS has been decreasing by -7.15% on average per year.
Looking at the last year, VWSB shows a very strong growth in Revenue. The Revenue has grown by 22.71%.
Measured over the past years, VWSB shows a small growth in Revenue. The Revenue has been growing by 7.32% on average per year.
EPS 1Y (TTM)1600%
EPS 3Y42.31%
EPS 5Y-7.15%
EPS Q2Q%118.75%
Revenue 1Y (TTM)22.71%
Revenue growth 3Y3.53%
Revenue growth 5Y7.32%
Sales Q2Q%13.62%

3.2 Future

VWSB is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 26.05% yearly.
The Revenue is expected to grow by 8.74% on average over the next years. This is quite good.
EPS Next Y50.64%
EPS Next 2Y46.48%
EPS Next 3Y41.57%
EPS Next 5Y26.05%
Revenue Next Year11.6%
Revenue Next 2Y10.85%
Revenue Next 3Y9.29%
Revenue Next 5Y8.74%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
VWSB.DE Yearly Revenue VS EstimatesVWSB.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 10B 20B 30B
VWSB.DE Yearly EPS VS EstimatesVWSB.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 1 -1 2

7

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 22.84, the valuation of VWSB can be described as rather expensive.
Based on the Price/Earnings ratio, VWSB is valued cheaper than 81.25% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.40. VWSB is around the same levels.
With a Price/Forward Earnings ratio of 16.29, VWSB is valued correctly.
VWSB's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. VWSB is cheaper than 76.56% of the companies in the same industry.
VWSB is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.94, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 22.84
Fwd PE 16.29
VWSB.DE Price Earnings VS Forward Price EarningsVWSB.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

VWSB's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. VWSB is cheaper than 81.25% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of VWSB indicates a rather cheap valuation: VWSB is cheaper than 81.25% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 15.25
EV/EBITDA 9.22
VWSB.DE Per share dataVWSB.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

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.
VWSB's earnings are expected to grow with 41.57% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.45
PEG (5Y)N/A
EPS Next 2Y46.48%
EPS Next 3Y41.57%

2

5. Dividend

5.1 Amount

With a yearly dividend of 0.42%, VWSB is not a good candidate for dividend investing.
VWSB's Dividend Yield is a higher than the industry average which is at 1.92.
With a Dividend Yield of 0.42, VWSB pays less dividend than the S&P500 average, which is at 2.38.
Industry RankSector Rank
Dividend Yield 0.42%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
VWSB.DE Yearly Dividends per shareVWSB.DE Yearly Dividends per shareYearly Dividends per share 2022 2025 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

DPN/A
EPS Next 2Y46.48%
EPS Next 3Y41.57%
VWSB.DE Yearly Income VS Free CF VS DividendVWSB.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B

VESTAS WIND SYSTEMS A/S

FRA:VWSB (10/17/2025, 7:00:00 PM)

17.13

-0.5 (-2.84%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Earnings (Last)08-13 2025-08-13/bmo
Earnings (Next)11-05 2025-11-05/bmo
Inst Owners44.23%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap17.30B
Analysts70.97
Price Target18.98 (10.8%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.42%
Yearly Dividend0
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)29.04%
Min EPS beat(2)-41.92%
Max EPS beat(2)100%
EPS beat(4)2
Avg EPS beat(4)8.43%
Min EPS beat(4)-44.55%
Max EPS beat(4)100%
EPS beat(8)4
Avg EPS beat(8)-25.9%
EPS beat(12)5
Avg EPS beat(12)-36.21%
EPS beat(16)5
Avg EPS beat(16)-97.47%
Revenue beat(2)1
Avg Revenue beat(2)3.88%
Min Revenue beat(2)-7.92%
Max Revenue beat(2)15.68%
Revenue beat(4)3
Avg Revenue beat(4)4.05%
Min Revenue beat(4)-7.92%
Max Revenue beat(4)15.68%
Revenue beat(8)5
Avg Revenue beat(8)0.16%
Revenue beat(12)7
Avg Revenue beat(12)-0.64%
Revenue beat(16)9
Avg Revenue beat(16)0.2%
PT rev (1m)0.6%
PT rev (3m)-0.05%
EPS NQ rev (1m)2.27%
EPS NQ rev (3m)-13.35%
EPS NY rev (1m)0.06%
EPS NY rev (3m)-7.01%
Revenue NQ rev (1m)0.49%
Revenue NQ rev (3m)-0.56%
Revenue NY rev (1m)-0.13%
Revenue NY rev (3m)-0.8%
Valuation
Industry RankSector Rank
PE 22.84
Fwd PE 16.29
P/S 0.93
P/FCF 15.25
P/OCF 7.2
P/B 5.57
P/tB N/A
EV/EBITDA 9.22
EPS(TTM)0.75
EY4.38%
EPS(NY)1.05
Fwd EY6.14%
FCF(TTM)1.12
FCFY6.56%
OCF(TTM)2.38
OCFY13.9%
SpS18.35
BVpS3.08
TBVpS-0.3
PEG (NY)0.45
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 2.98%
ROE 24.53%
ROCE 12.73%
ROIC 9.33%
ROICexc 15.19%
ROICexgc 45.43%
OM 5.73%
PM (TTM) 4.11%
GM 13.13%
FCFM 6.12%
ROA(3y)-1.82%
ROA(5y)-0.11%
ROE(3y)-11.65%
ROE(5y)-3.13%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y52.87%
ROICexcg growth 5Y-21.37%
ROICexc growth 3Y31.66%
ROICexc growth 5Y-22.57%
OM growth 3Y16.4%
OM growth 5Y-12.13%
PM growth 3Y49.72%
PM growth 5Y-13.02%
GM growth 3Y6.01%
GM growth 5Y-3.88%
F-Score8
Asset Turnover0.73
Health
Industry RankSector Rank
Debt/Equity 0.84
Debt/FCF 2.96
Debt/EBITDA 1.36
Cap/Depr 146.99%
Cap/Sales 6.85%
Interest Coverage 250
Cash Conversion 124.82%
Profit Quality 148.82%
Current Ratio 0.96
Quick Ratio 0.56
Altman-Z 1.49
F-Score8
WACC6.58%
ROIC/WACC1.42
Cap/Depr(3y)107.34%
Cap/Depr(5y)101.55%
Cap/Sales(3y)6.04%
Cap/Sales(5y)5.63%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)1600%
EPS 3Y42.31%
EPS 5Y-7.15%
EPS Q2Q%118.75%
EPS Next Y50.64%
EPS Next 2Y46.48%
EPS Next 3Y41.57%
EPS Next 5Y26.05%
Revenue 1Y (TTM)22.71%
Revenue growth 3Y3.53%
Revenue growth 5Y7.32%
Sales Q2Q%13.62%
Revenue Next Year11.6%
Revenue Next 2Y10.85%
Revenue Next 3Y9.29%
Revenue Next 5Y8.74%
EBIT growth 1Y7180%
EBIT growth 3Y20.51%
EBIT growth 5Y-5.69%
EBIT Next Year218.26%
EBIT Next 3Y64.41%
EBIT Next 5Y38.52%
FCF growth 1Y240.17%
FCF growth 3Y114.06%
FCF growth 5Y90.43%
OCF growth 1Y48180%
OCF growth 3Y34.61%
OCF growth 5Y23.16%