CENIT AG (CSH.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:CSH • DE0005407100

6.91 EUR
-0.03 (-0.43%)
Last: Feb 10, 2026, 04:59 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

3

Taking everything into account, CSH scores 3 out of 10 in our fundamental rating. CSH was compared to 122 industry peers in the Software industry. Both the profitability and financial health of CSH have multiple concerns. CSH is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

  • CSH had negative earnings in the past year.
  • In the past year CSH had a positive cash flow from operations.
  • Of the past 5 years CSH 4 years were profitable.
  • Each year in the past 5 years CSH had a positive operating cash flow.
CSH.DE Yearly Net Income VS EBIT VS OCF VS FCFCSH.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2M 4M 6M 8M 10M

1.2 Ratios

  • Looking at the Return On Assets, with a value of -3.14%, CSH is doing worse than 65.57% of the companies in the same industry.
  • CSH has a worse Return On Equity (-12.50%) than 68.85% of its industry peers.
  • CSH has a Return On Invested Capital (1.04%) which is in line with its industry peers.
  • CSH had an Average Return On Invested Capital over the past 3 years of 3.71%. This is significantly below the industry average of 13.45%.
Industry RankSector Rank
ROA -3.14%
ROE -12.5%
ROIC 1.04%
ROA(3y)2.61%
ROA(5y)3.04%
ROE(3y)8.37%
ROE(5y)8.11%
ROIC(3y)3.71%
ROIC(5y)4.08%
CSH.DE Yearly ROA, ROE, ROICCSH.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15 20

1.3 Margins

  • CSH has a Operating Margin of 0.91%. This is comparable to the rest of the industry: CSH outperforms 47.54% of its industry peers.
  • In the last couple of years the Operating Margin of CSH has declined.
  • CSH's Gross Margin of 60.04% is on the low side compared to the rest of the industry. CSH is outperformed by 63.93% of its industry peers.
  • CSH's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 0.91%
PM (TTM) N/A
GM 60.04%
OM growth 3Y-8.13%
OM growth 5Y-9.36%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y3.52%
GM growth 5Y3.41%
CSH.DE Yearly Profit, Operating, Gross MarginsCSH.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60

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3

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), CSH is destroying value.
  • CSH has about the same amout of shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, CSH has about the same amount of shares outstanding.
  • Compared to 1 year ago, CSH has a worse debt to assets ratio.
CSH.DE Yearly Shares OutstandingCSH.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M
CSH.DE Yearly Total Debt VS Total AssetsCSH.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

2.2 Solvency

  • CSH has an Altman-Z score of 2.15. This is not the best score and indicates that CSH is in the grey zone with still only limited risk for bankruptcy at the moment.
  • CSH has a Altman-Z score of 2.15. This is comparable to the rest of the industry: CSH outperforms 46.72% of its industry peers.
  • CSH has a debt to FCF ratio of 4.02. This is a neutral value as CSH would need 4.02 years to pay back of all of its debts.
  • CSH has a Debt to FCF ratio (4.02) which is in line with its industry peers.
  • A Debt/Equity ratio of 1.10 is on the high side and indicates that CSH has dependencies on debt financing.
  • With a Debt to Equity ratio value of 1.10, CSH is not doing good in the industry: 81.15% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.1
Debt/FCF 4.02
Altman-Z 2.15
ROIC/WACC0.14
WACC7.27%
CSH.DE Yearly LT Debt VS Equity VS FCFCSH.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M

2.3 Liquidity

  • CSH has a Current Ratio of 1.27. This is a normal value and indicates that CSH is financially healthy and should not expect problems in meeting its short term obligations.
  • CSH's Current ratio of 1.27 is in line compared to the rest of the industry. CSH outperforms 41.80% of its industry peers.
  • A Quick Ratio of 1.27 indicates that CSH should not have too much problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 1.27, CSH is in line with its industry, outperforming 44.26% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.27
Quick Ratio 1.27
CSH.DE Yearly Current Assets VS Current LiabilitesCSH.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. Growth

3.1 Past

  • CSH shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -252.87%.
  • The Revenue has been growing slightly by 3.58% in the past year.
  • The Revenue has been growing slightly by 3.84% on average over the past years.
EPS 1Y (TTM)-252.87%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%13.27%
Revenue 1Y (TTM)3.58%
Revenue growth 3Y12.38%
Revenue growth 5Y3.84%
Sales Q2Q%-3.04%

3.2 Future

  • CSH is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 16.23% yearly.
  • The Revenue is expected to grow by 2.81% on average over the next years.
EPS Next Y-228.95%
EPS Next 2Y-39.3%
EPS Next 3Y16.23%
EPS Next 5YN/A
Revenue Next Year-6.06%
Revenue Next 2Y2.96%
Revenue Next 3Y3.64%
Revenue Next 5Y2.81%

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 decreasing.
CSH.DE Yearly Revenue VS EstimatesCSH.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 50M 100M 150M 200M 250M
CSH.DE Yearly EPS VS EstimatesCSH.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.5

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3

4. Valuation

4.1 Price/Earnings Ratio

  • CSH reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
  • Based on the Price/Forward Earnings ratio of 48.87, the valuation of CSH can be described as expensive.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of CSH is on the same level as its industry peers.
  • CSH is valuated expensively when we compare the Price/Forward Earnings ratio to 27.86, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 48.87
CSH.DE Price Earnings VS Forward Price EarningsCSH.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, CSH is valued cheaper than 87.70% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of CSH indicates a rather cheap valuation: CSH is cheaper than 95.08% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 5.07
EV/EBITDA 6.67
CSH.DE Per share dataCSH.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20 25

4.3 Compensation for Growth

  • CSH's earnings are expected to grow with 16.23% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-39.3%
EPS Next 3Y16.23%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • CSH has a Yearly Dividend Yield of 4.15%, which is a nice return.
  • Compared to an average industry Dividend Yield of 0.67, CSH pays a better dividend. On top of this CSH pays more dividend than 96.72% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.80, CSH pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.15%

5.2 History

  • The dividend of CSH decreases each year by -41.82%.
Dividend Growth(5Y)-41.82%
Div Incr Years0
Div Non Decr Years0
CSH.DE Yearly Dividends per shareCSH.DE Yearly Dividends per shareYearly Dividends per share 2019 2021 2022 2023 2024 0.2 0.4 0.6

5.3 Sustainability

DP0%
EPS Next 2Y-39.3%
EPS Next 3Y16.23%
CSH.DE Yearly Income VS Free CF VS DividendCSH.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2M 4M 6M 8M 10M

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CENIT AG

FRA:CSH (2/10/2026, 4:59:03 PM)

6.91

-0.03 (-0.43%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)11-06
Earnings (Next)04-09
Inst Owners47.47%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap57.84M
Revenue(TTM)210.10M
Net Income(TTM)-4.64M
Analysts90
Price Target13.52 (95.66%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.15%
Yearly Dividend0.04
Dividend Growth(5Y)-41.82%
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-5.63%
PT rev (3m)-5.63%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-6.88%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 48.87
P/S 0.28
P/FCF 5.07
P/OCF 4.44
P/B 1.56
P/tB N/A
EV/EBITDA 6.67
EPS(TTM)-0.55
EYN/A
EPS(NY)0.14
Fwd EY2.05%
FCF(TTM)1.36
FCFY19.71%
OCF(TTM)1.56
OCFY22.51%
SpS25.1
BVpS4.43
TBVpS-2.57
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -3.14%
ROE -12.5%
ROCE 2.14%
ROIC 1.04%
ROICexc 1.35%
ROICexgc 9.09%
OM 0.91%
PM (TTM) N/A
GM 60.04%
FCFM 5.42%
ROA(3y)2.61%
ROA(5y)3.04%
ROE(3y)8.37%
ROE(5y)8.11%
ROIC(3y)3.71%
ROIC(5y)4.08%
ROICexc(3y)4.78%
ROICexc(5y)6.49%
ROICexgc(3y)14.59%
ROICexgc(5y)14.62%
ROCE(3y)8.58%
ROCE(5y)8.95%
ROICexgc growth 3Y-6.55%
ROICexgc growth 5Y-5.33%
ROICexc growth 3Y-30.45%
ROICexc growth 5Y-21.57%
OM growth 3Y-8.13%
OM growth 5Y-9.36%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y3.52%
GM growth 5Y3.41%
F-Score5
Asset Turnover1.42
Health
Industry RankSector Rank
Debt/Equity 1.1
Debt/FCF 4.02
Debt/EBITDA 3.27
Cap/Depr 15.31%
Cap/Sales 0.77%
Interest Coverage 0.57
Cash Conversion 104.1%
Profit Quality N/A
Current Ratio 1.27
Quick Ratio 1.27
Altman-Z 2.15
F-Score5
WACC7.27%
ROIC/WACC0.14
Cap/Depr(3y)19.26%
Cap/Depr(5y)16.81%
Cap/Sales(3y)0.76%
Cap/Sales(5y)0.65%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-252.87%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%13.27%
EPS Next Y-228.95%
EPS Next 2Y-39.3%
EPS Next 3Y16.23%
EPS Next 5YN/A
Revenue 1Y (TTM)3.58%
Revenue growth 3Y12.38%
Revenue growth 5Y3.84%
Sales Q2Q%-3.04%
Revenue Next Year-6.06%
Revenue Next 2Y2.96%
Revenue Next 3Y3.64%
Revenue Next 5Y2.81%
EBIT growth 1Y-77.74%
EBIT growth 3Y3.24%
EBIT growth 5Y-5.88%
EBIT Next Year29.61%
EBIT Next 3Y44.31%
EBIT Next 5Y27.42%
FCF growth 1Y70.64%
FCF growth 3Y5.1%
FCF growth 5Y-0.8%
OCF growth 1Y50.13%
OCF growth 3Y7.86%
OCF growth 5Y-2.42%

CENIT AG / CSH.DE FAQ

What is the fundamental rating for CSH stock?

ChartMill assigns a fundamental rating of 3 / 10 to CSH.DE.


What is the valuation status of CENIT AG (CSH.DE) stock?

ChartMill assigns a valuation rating of 3 / 10 to CENIT AG (CSH.DE). This can be considered as Overvalued.


How profitable is CENIT AG (CSH.DE) stock?

CENIT AG (CSH.DE) has a profitability rating of 3 / 10.


What is the earnings growth outlook for CENIT AG?

The Earnings per Share (EPS) of CENIT AG (CSH.DE) is expected to decline by -228.95% in the next year.


Is the dividend of CENIT AG sustainable?

The dividend rating of CENIT AG (CSH.DE) is 6 / 10 and the dividend payout ratio is 0%.