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.
M.A.X. Automation SE is a German industrial holding company that acquires, manages, and develops medium-sized enterprises specializing in automation and environmental technology solutions. Founded on June 1, 1990, as M.A.X. Holding Aktiengesellschaft in Munich, it initially served as an investment vehicle for industrial firms and evolved into a global high-tech mechanical engineering group, transitioning to Societas Europaea (SE) status in 2018 with headquarters now in Hamburg. The company holds majority stakes in key subsidiaries like bdtronic Group, which produces impregnation and dosing machines for electric motors in the automotive sector, particularly e-mobility; Vecoplan Group, offering shredding and sorting systems for recycling wood, plastics, paper, and waste; and others including NSM Magnettechnik, IWM Automation, ELWEMA Automotive, and AIM micro systems, focusing on stacking, conveying, assembly, and testing technologies. With around 1,547 employees, M.A.X. Automation SE supports resource efficiency, energy generation, and sustainability, generating sales across Germany, other EU countries, North America, and China. Its decentralized structure drives innovation in robotics, digitalization, and industrial automation, positioning it as a vital player in addressing global trends like electric vehicle production and recycling demands.
Operating margin is thin at 0.84%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 8.6% YoY. Margins deteriorated 4.0pp alongside, both lines moving the wrong way.
ROIC dropped from 6.81% to 0.88%, capital efficiency is deteriorating. Operating margin contracted 4.0pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
€335M
▼ -8.6% YoY
Net Income (TTM)
-€4M
▼ -107.3% YoY
Op. Margin
0.84%
▼ -4.0pp YoY
ROIC
0.88%
▼ -5.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€30M
▲ +354.9% YoY
Op. Cash Flow (TTM)
€36M
▼ -14.4% YoY
Net Debt
€29M
Cash & Equiv.
€15M
3Y CAGR: -0.8%
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