Rosenbauer International AG

Rosenbauer's capital structure is highly leveraged, with a debt-to-equity ratio of 3.2, indicating significant reliance on debt financing. The company's liquidity position is moderate, with a current ratio of 1.57, but its operating cash flow is negative at -49.98 million EUR, and free cash flow is only 4.53 million EUR, suggesting limited capacity to service debt without external financing.

Profitability metrics are weak compared to industry norms. Return on equity (ROE) is 1.66%, and return on assets (ROA) is 0.22%, both below the typical thresholds for industrial machinery firms. Gross profit of 51.7 million EUR represents 16.7% of revenue, but operating income of 14.12 million EUR and net income of 2.87 million EUR indicate significant cost pressures and low margins.

The company's revenue is concentrated in a single business segment focused on fire-fighting equipment, with no disclosed geographic diversification. This lack of segment or geographic diversification increases exposure to regional demand fluctuations and regulatory changes in the public safety sector.

Growth appears constrained, with no disclosed revenue growth in the most recent period. Analysts project a mean price target of 62.00 EUR, but the company's weak cash flow and high leverage suggest limited capacity for organic expansion or M&A.

Rosenbauer faces moderate liquidity risk due to negative net cash and a high debt load. Dilution risk is currently low, as shares outstanding have not changed between basic and diluted counts, but the company may need to issue equity to fund operations or reduce debt if cash flow remains negative.

Recent filings and transcripts have not disclosed material events, but the company's operating cash flow and free cash flow suggest ongoing operational challenges. No significant capital expenditures or R&D investments are highlighted in the latest financials.

Revenue grew 10% annually over four years, reaching EUR 1.43 billion in fiscal 2026.

Net income surged 84.6% year-over-year to EUR 49.8 million in fiscal 2026.

Free cash flow increased 49.3% to EUR 48.9 million in fiscal 2026.

Operating income expanded 30.2% year-over-year to EUR 84.5 million in fiscal 2026.

Analysts assign a strong buy recommendation with a median price target of EUR 63.50.

Debt-to-equity ratio of 3.2 places the company in the bottom quartile of its cohort.

The company faces high credit risk according to internal risk flag assessments.

Net margin of 0.93% is significantly below the cohort median of 4.87%.

Current market price of EUR 62.60 offers only -1.0% upside to the mean target.

Revenue €303.8M, +15,2% YoY; Operating income +60,3% YoY.

• ▍Revenue €303.8M, +15,2% YoY
• ▍Operating income +60,3% YoY
• ▍Net income +1 559,9% YoY
• ▍Free cash flow +141,8% YoY
• ▍Net margin 2.9%

Revenue €478.2M, +2,9% YoY; Operating income +43,2% YoY.

• ▍Revenue €478.2M, +2,9% YoY
• ▍Operating income +43,2% YoY
• ▍Net income +76,3% YoY
• ▍Free cash flow +46,2% YoY
• ▍Net margin 11.7%

Revenue €346.0M, +12,8% YoY; Operating income +73,6% YoY.

• ▍Revenue €346.0M, +12,8% YoY
• ▍Operating income +73,6% YoY
• ▍Net income +706,6% YoY
• ▍Free cash flow +232,3% YoY
• ▍Net margin 4.2%

Revenue €341.1M, +10,4% YoY; Operating income −111,0% YoY.

• ▍Revenue €341.1M, +10,4% YoY
• ▍Operating income −111,0% YoY
• ▍Net income −788,3% YoY
• ▍Free cash flow −383,6% YoY
• ▍Net margin -5.8%

Revenue €464.6M; Operating income €35.0M.

• ▍Revenue €464.6M
• ▍Operating income €35.0M
• ▍Net margin 6.8%

Revenue €306.8M; Operating income €15.0M.

• ▍Revenue €306.8M
• ▍Operating income €15.0M
• ▍Net margin 0.6%

Revenue €309.0M; Operating income €14.1M.

• ▍Revenue €309.0M
• ▍Operating income €14.1M
• ▍Net margin 0.9%

Revenue €1.43B, +9,4% YoY; Operating income +30,2% YoY.

• ▍Revenue €1.43B, +9,4% YoY
• ▍Operating income +30,2% YoY
• ▍Net income +84,6% YoY
• ▍Free cash flow +49,3% YoY
• ▍Net margin 3.5%

Revenue €1.31B, +22,7% YoY; Operating income +73,0% YoY.

• ▍Revenue €1.31B, +22,7% YoY
• ▍Operating income +73,0% YoY
• ▍Net income +2 586,6% YoY
• ▍Free cash flow +315,2% YoY
• ▍Net margin 2.1%

Revenue €1.06B, +9,5% YoY; Operating income +455,5% YoY.

• ▍Revenue €1.06B, +9,5% YoY
• ▍Operating income +455,5% YoY
• ▍Net income +95,5% YoY
• ▍Free cash flow +140,9% YoY
• ▍Net margin -0.1%

Revenue €972.2M, −0,3% YoY; Operating income −130,1% YoY.

• ▍Revenue €972.2M, −0,3% YoY
• ▍Operating income −130,1% YoY
• ▍Net income −257,2% YoY
• ▍Free cash flow −268,6% YoY
• ▍Net margin -2.5%

Revenue €975.1M; Operating income €35.0M.

• ▍Revenue €975.1M
• ▍Operating income €35.0M
• ▍Net margin 1.6%