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.
CHAPTERS Group AG is a Germany-based holding company headquartered in Hamburg, specializing in mission-critical digital solutions through a decentralized portfolio of over 55 operating companies. It empowers entrepreneurial teams by granting significant autonomy, accountability, and co-ownership opportunities, fostering long-term growth via organic expansion, strategic acquisitions, and best-practice sharing across platforms. The company operates in three key segments: Financial Technologies, focusing on payments and wealth management like Fintiba and Finfox; Public Sector, delivering software for homeland security, public transport, utilities, and emergency services such as Xplain AG and PSI Transcom; and Enterprise, supporting business optimization in sectors including construction, publishing, and supply chain with solutions from companies like Teamsware and Simmeth System. With roots tracing back to 1998 and a public listing since 2005, CHAPTERS has transformed into a leader in vertical market software, serving essential operations for public transport, fire departments, utilities, telecom, banking, and more across 10 countries, employing around 1,100 people and generating over €125 million in revenue.
The business is unprofitable at the operating level (-25.21% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 63.4%, still solid. Margins contracted 15.7pp, which offsets some of the top-line progress.
ROIC dropped from -3.35% to -8.32%, capital efficiency is deteriorating. Net debt of €144M represents 9.5x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€181M
▲ +63.4% YoY
Net Income (TTM)
-€40M
▼ -228.3% YoY
Op. Margin
-25.21%
▼ -15.7pp YoY
ROIC
-8.32%
▼ -5.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€15M
▲ +113.9% YoY
Op. Cash Flow (TTM)
€16M
▲ +55.7% YoY
Net Debt
€144M
Cash & Equiv.
€107M
3Y CAGR: +62.6%
3Y CAGR: +60.4%
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