NORDEX SE (NDX1.DE) Stock Fundamental Analysis

Europe - Frankfurt Stock Exchange - FRA:NDX1 - DE000A0D6554 - Common Stock

33.46 EUR

+0.44 (+1.33%)

Last: 1/23/2026, 7:00:00 PM

Fundamental Rating

We assign a fundamental rating of 4 out of 10 to NDX1. NDX1 was compared to 73 industry peers in the Electrical Equipment industry. The financial health of NDX1 is average, but there are quite some concerns on its profitability. NDX1 is not valued too expensively and it also shows a decent growth rate.

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1. Profitability

1.1 Basic Checks

In the past year NDX1 was profitable.
NDX1 had a positive operating cash flow in the past year.
In the past 5 years NDX1 reported 4 times negative net income.
In multiple years NDX1 reported negative operating cash flow during the last 5 years.

1.2 Ratios

With a Return On Assets value of 1.84%, NDX1 perfoms like the industry average, outperforming 53.42% of the companies in the same industry.
NDX1 has a better Return On Equity (10.10%) than 61.64% of its industry peers.
NDX1 has a Return On Invested Capital (5.51%) which is comparable to the rest of the 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

With a Profit Margin value of 1.50%, NDX1 perfoms like the industry average, outperforming 53.42% of the companies in the same industry.
NDX1 has a Operating Margin (4.14%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of NDX1 has grown nicely.
NDX1's Gross Margin of 14.32% is on the low side compared to the rest of the industry. NDX1 is outperformed by 80.82% of its industry peers.
In the last couple of years the Gross Margin of NDX1 has declined.

		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

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NDX1 is destroying value.
The number of shares outstanding for NDX1 remains at a similar level compared to 1 year ago.
Compared to 5 years ago, NDX1 has more shares outstanding
The debt/assets ratio for NDX1 is higher compared to a year ago.

2.2 Solvency

NDX1 has an Altman-Z score of 2.37. This is not the best score and indicates that NDX1 is in the grey zone with still only limited risk for bankruptcy at the moment.
NDX1 has a Altman-Z score (2.37) which is comparable to the rest of the industry.
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	2.37

ROIC/WACC0.69

WACC7.99%

2.3 Liquidity

A Current Ratio of 1.04 indicates that NDX1 should not have too much problems paying its short term obligations.
NDX1's Current ratio of 1.04 is on the low side compared to the rest of the industry. NDX1 is outperformed by 78.08% of its industry peers.
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's Quick ratio of 0.77 is in line compared to the rest of the industry. NDX1 outperforms 41.10% 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.
The Revenue has been growing slightly by 1.27% in the past year.
The Revenue has been growing by 17.32% on average over the past years. This is quite good.

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

Based on estimates for the next years, NDX1 will show a very strong growth in Earnings Per Share. The EPS will grow by 163.17% on average per year.
The Revenue is expected to grow by 5.47% on average over the next years.

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 72.74.
NDX1's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of NDX1 to the average of the S&P500 Index (27.21), we can say NDX1 is valued expensively.
A Price/Forward Earnings ratio of 24.73 indicates a rather expensive valuation of NDX1.
Compared to the rest of the industry, the Price/Forward Earnings ratio of NDX1 is on the same level as its industry peers.
NDX1 is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 24.26, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	72.74
Fwd PE	24.73

4.2 Price Multiples

NDX1's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. NDX1 is cheaper than 68.49% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of NDX1 indicates a rather cheap valuation: NDX1 is cheaper than 84.93% of the companies listed in the same industry.

		Industry Rank	Sector Rank
P/FCF	14.35
EV/EBITDA	13.36

4.3 Compensation for Growth

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