Original-Research: Stabilus SE (von Quirin Privatbank Kapitalmarktgeschäft): Hold
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Original-Research: Stabilus SE - von Quirin Privatbank Kapitalmarktgeschäft
Einstufung von Quirin Privatbank Kapitalmarktgeschäft zu Stabilus SE
Still no good figures for Stabilus Because we are still not convinced by the figures presented (on group level no organic growth in all business units in Q2) we confirm our Hold recommendation on STABILUS with a new TP of EUR 26 (48), applied by our ROE/COE valuation approach. The company has seen significant drops in key profitability metrics with adj. EBIT margins shrinking steadily over the last quarters/years. The TTM adj. EBIT margin is 30bps qoq and 115bps yoy lower. If you look at the figures excluding the Destaco acquisition, the clean TTM adj. EBIT margin is only at 10.3% (on a Q2 2024%25 basis only at 9.9%), a far cry from the historically high levels. In 2023, DESTACO's sales amounted to USD 206m (EURUSD average 1.08: ~ EUR 191m) with an adjusted EBIT margin of 20%. In the last twelve months, the company has generated EUR 187.1m revenues and EUR 36.6m EBIT (19.6% of revenue). The current top line is not really a growth story, the high margin remains positive, we will see how long it can remain at this level. We don't like the fact that goodwill accounts for around 29% of the total balance sheet and even worse 79% of total equity at the end of March 2025. Taking into consideration the development of the blended NTM PE 10-Days-Moving average which is under its 100-Days-Moving average, has showed a massive sell-off in the last twelve months. The valuation is already very low, so the risk of further massive sell-off is minimized for the time being in our view. Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/32454.pdf Die Analyse oder weiterführende Informationen zu dieser können Sie hier downloaden: https://research.quirinprivatbank.de/ Kontakt für Rückfragen: Quirin Privatbank AG Institutionelles Research Schillerstraße 20 60313 Frankfurt am Main research@quirinprivatbank.de https://research.quirinprivatbank.de/
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2130212 05.05.2025 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025e | ||
| Sales1 | 951,34 | 822,13 | 937,67 | 1.116,35 | 1.215,25 | 1.305,93 | 1.296,10 | |
| EBITDA1,2 | 183,65 | 151,96 | 185,09 | 211,22 | 208,18 | 225,40 | 260,00 | |
| EBITDA-Margin3 | 19,30 | 18,48 | 19,74 | 18,92 | 17,13 | 17,26 | 20,06 | |
| EBIT1,4 | 124,02 | 56,14 | 121,26 | 142,22 | 137,14 | 113,33 | 142,60 | |
| EBIT-Margin5 | 13,04 | 6,83 | 12,93 | 12,74 | 11,29 | 8,68 | 11,00 | |
| Net Profit (Loss)1 | 80,90 | 29,99 | 73,76 | 104,34 | 103,31 | 72,03 | 24,20 | |
| Net-Margin6 | 8,50 | 3,65 | 7,87 | 9,35 | 8,50 | 5,52 | 1,87 | |
| Cashflow1,7 | 145,42 | 108,88 | 128,98 | 125,73 | 178,10 | 196,98 | 0,00 | |
| Earnings per share8 | 3,26 | 1,27 | 2,97 | 4,17 | 4,12 | 2,84 | 0,98 | |
| Dividend per share8 | 1,10 | 0,50 | 1,25 | 1,75 | 1,75 | 1,15 | 0,25 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: Deloitte
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
| INVESTOR-INFORMATION | ||||||
| ©boersengefluester.de | ||||||
| Stabilus | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| STAB1L | DE000STAB1L8 | SA | 506,35 Mio € | 23.05.2014 | Halten | 9F299JG3+53 |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 9,76 | 20,76 | 0,47 | 6,45 | 0,81 | 2,57 | 0,39 |
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Dividend '2023 in € |
Dividend '2024 in € |
Dividend '2025e in € |
Div.-Yield '2025e in % |
| 1,75 | 1,15 | 0,25 | 1,21% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 04.02.2026 | 26.01.2026 | 04.05.2026 | 28.07.2025 | 08.12.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -8,69% | -16,95% | -31,57% | -39,12% | -3,72% |
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