Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Bertrandt Aktiengesellschaft is a leading international engineering services provider specializing in development solutions for the automotive and aviation industries. Founded in 1974 as a one-man engineering office in Baden-Württemberg, Germany, it has evolved into a global group with over 13,000 employees across more than 50 locations worldwide, including key R&D hubs in Germany, France, Spain, Italy, China, and the US, supported by delivery centers in Romania, Morocco, and Turkey. The company delivers comprehensive services along the entire product development process, from initial concepts to production-ready products, encompassing digital engineering, electrics/electronics, physical engineering, quality assurance, project management, and logistics. Bertrandt Aktiengesellschaft excels in megatrends such as autonomous driving, electrification, connectivity, and Industry 4.0, offering innovative platforms like HARRI for future mobility and advanced testing facilities for high-voltage batteries and vehicle acoustics. Its cross-sector expertise extends to aerospace, defense, rail, electronics, medical technology, energy, and HR consulting, making it a vital partner for OEMs and suppliers driving technological progress. With a customer-centric approach, flat hierarchies, and a family-like corporate spirit, Bertrandt Aktiengesellschaft ensures tailored, high-quality solutions while maintaining financial solidity and sustainability goals, including CO2 neutrality by 2039.
The business is unprofitable at the operating level (-3.94% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 17.6% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 72% versus the prior year, cash generation momentum has weakened. Net debt of €202M represents 12.5x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€944M
▼ -17.6% YoY
Net Income (TTM)
-€53M
▲ +30.3% YoY
Op. Margin
-3.80%
▲ +4.3pp YoY
ROIC
-4.79%
▲ +5.9pp YoY
Cash Flow & Balance Sheet
FCF (FY)
€16M
▼ -72.0% YoY
Op. Cash Flow (FY)
€37M
▼ -49.6% YoY
Net Debt
€202M
Cash & Equiv.
€89M
3Y CAGR: -1.1%
3Y CAGR: -14.6%
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