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.
Indus Holding AG is a Germany-based holding company specializing in the acquisition and long-term development of small and medium-sized enterprises, primarily family-owned 'hidden champions' in German-speaking regions. It fully owns and manages over 40 portfolio companies across three key segments: Engineering, which supports manufacturing with machinery, automation, robotics, sensor technology, and measuring/control engineering; Materials Solutions, focusing on innovative materials like metals, composites, engineering plastics, textiles, medical products, and specialized manufacturing; and Infrastructure, encompassing construction, building technology, telecommunications, and air-conditioning solutions. These companies operate in Germany, the US, Switzerland, the Nordics, and beyond, with activities spanning energy transition, digitalization, and sustainability megatrends. Unlike traditional private equity, Indus Holding AG retains existing management, avoids exit strategies, and fosters sustained growth through acquisitions, internationalization, and engineering expertise, acting as a reliable partner to the Mittelstand. Headquartered in Bergisch Gladbach, it bridges SMEs and capital markets, employing around 8,862 people and emphasizing values-based, responsible practices for competitive advantage.
Operating margin is thin at 7.43%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 0.8%, essentially flat. This is a business that needs a catalyst.
Net debt of €537M represents 6.0x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€1.77B
▲ +0.8% YoY
Net Income (TTM)
€70M
▲ +27.6% YoY
Op. Margin
8.25%
▲ +0.1pp YoY
ROIC
6.36%
▲ +1.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€37M
▼ -3.4% YoY
Op. Cash Flow (TTM)
€50M
▼ -10.8% YoY
Net Debt
€537M
Cash & Equiv.
€225M
3Y CAGR: -1.3%
3Y CAGR: +13.2%
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