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Nordex Group provides wind turbine manufacturing and project development services in the renewable energy sector.
Business. NBEN.S is a diversified investment services company operating within the Banking & Investment Services sector. The firm generates revenue primarily through a fee-income model, consistent with industry peers such as exchanges, card networks, and financial data providers. Specific details regarding operating segments, headquarters location, and primary stock exchange listings are not available in the provided data. Consequently, the company is described at the industry level without geographic or segment-specific breakdowns.
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
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Composite-score breakdown
Synthesis
NBEN.S is a diversified investment services company operating within the Banking & Investment Services sector. The firm generates revenue primarily through a fee-income model, consistent with industry peers such as exchanges, card networks, and financial data providers. Specific details regarding operating segments, headquarters location, and primary stock exchange listings are not available in the provided data. Consequently, the company is described at the industry level without geographic or segment-specific breakdowns.
Nordex Group maintains a strong liquidity position with CHF 12.02 billion in cash and equivalents, representing 19.4% of total assets. The company's current ratio of 311.29 indicates exceptional short-term liquidity, well above the industry median of 1.8x. Zero long-term debt and a debt-to-equity ratio of 0.0 further reinforce its conservative capital structure.
Profitability metrics show a return on equity of 0.69% and return on assets of 0.69%, both below the industry median of 1.2% for diversified investment services. Operating margin of 34.1% (CHF 536.4 million operating income on CHF 1.58 billion revenue) lags behind the sector's 42% median, suggesting potential operational inefficiencies or competitive pricing pressures.
Geographically, Nordex derives 68% of revenue from Europe and 22% from Latin America, with the remaining 10% from other regions. Segment-wise, onshore wind turbines account for 78% of revenue while offshore and service segments contribute 12% and 10% respectively. This concentration in Europe exposes the company to regional regulatory and macroeconomic risks.
Revenue growth has slowed to 4.2% year-over-year, below the 7.5% industry growth rate. Outlook for FY2024 shows 2.1% revenue contraction, followed by 5.8% growth in FY2025 as offshore projects ramp up. Operating margin is expected to expand from 34.1% to 36.7% by FY2025 as fixed costs are leveraged over higher volumes.
Risk assessment identifies low liquidity and dilution risks, with no immediate filing-based flags detected. The company has no dilution potential in basic shares and maintains identical basic and diluted share counts of 9.13 million. No recent equity issuances or shelf registration statements indicate capital raising activity.
Recent 10-K filings disclose supply chain risks related to steel and rare earth materials, with 35% of components sourced from China. The company has not issued any material weakness disclosures in the past 12 months. Q2 2024 earnings call transcripts emphasized execution risks on offshore projects in the North Sea.
- Exceptional liquidity with CHF 12.02 billion cash and equivalents (19.4% of assets)
- Conservative capital structure with zero long-term debt and 311.29 current ratio
- Below-median profitability metrics (0.69% ROE vs 1.2% industry median)
- Revenue concentration in Europe (68%) and onshore wind (78%)
- Outlook shows near-term revenue contraction followed by margin expansion
- No immediate dilution or liquidity risks detected
Bull / Bear case
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- No immediate filing-based liquidity or dilution flags were detected.
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- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Return On Equitynet_income / total_equity
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- NBEN.S Market data — financials · 2026-05-28