Bertrandt AG (DE:BDT)
XETRA:BDT
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Bertrandt
(XETRA:BDT)
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Rating:47Neutral
Price Target:
€9.00
▼(-50.66% Downside)
Action:Reiterated
Date:04/29/26
The score is driven down primarily by weak financial performance (declining revenue, negative margins, negative ROE, and pressured cash generation). Technicals add additional downside risk due to a clear downtrend across all key moving averages and negative MACD; valuation provides only limited support given losses (negative P/E) and a modest dividend yield.
Positive Factors
End-to-end engineering model
Bertrandt’s full‑lifecycle engineering services (design, software, testing, validation, project management) create durable client stickiness with OEMs and Tier‑1s. Long program horizons and capacity-based contracts support recurring revenue and higher likelihood of multi‑year framework agreements.
Negative Factors
Declining revenue
A ~15% revenue decline signals shrinking demand or lost project volumes from core OEM clients. Reduced scale impairs utilization economics for high‑fixed engineering capacity, pressures per‑employee productivity, and makes it harder to cover fixed costs and maintain long‑term customer investments.
Read all positive and negative factors
Positive Factors
Negative Factors
End-to-end engineering model
Bertrandt’s full‑lifecycle engineering services (design, software, testing, validation, project management) create durable client stickiness with OEMs and Tier‑1s. Long program horizons and capacity-based contracts support recurring revenue and higher likelihood of multi‑year framework agreements.
Read all positive factors
Bertrandt (BDT) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€94.18M
Dividend Yield1.38%
Average Volume (3M)3.41K
Price to Earnings (P/E)―
Beta (1Y)0.84
Revenue Growth-14.82%
EPS Growth44.17%
CountryDE
Employees13,605
SectorIndustrials
Sector Strength72
IndustryAuto - Parts
Share Statistics
EPS (TTM)-5.32
Shares Outstanding10,143,240
10 Day Avg. Volume6,536
30 Day Avg. Volume3,411
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.61
Price to Sales (P/S)0.19
P/FCF Ratio33.43
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-1.03
Revenue Forecast (FY)€927.92M
Bertrandt Business Overview & Revenue Model
Company Description
Bertrandt AG provides a comprehensive range of engineering services to clients internationally, with a strong presence in Germany. The company organizes its expertise into three core segments: Digital Engineering, Physical Engineering, and Electri...
How the Company Makes Money
Bertrandt primarily makes money by selling engineering services to industrial clients—most notably automotive OEMs and Tier-1 suppliers—under project-based and time-and-materials (capacity/contract engineering) arrangements. Key revenue streams ty...
Bertrandt Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
50
Neutral
| Breakdown | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 976.52M | 1.19B | 1.16B | 1.01B | 848.59M |
| Gross Profit | 27.12M | 1.03B | 108.07M | 895.61M | 771.17M |
| EBITDA | 17.87M | 15.49M | 105.87M | 96.16M | 74.56M |
| Net Income | -53.81M | -77.17M | 30.44M | 21.13M | 6.91M |
Balance Sheet | |||||
| Total Assets | 759.04M | 879.54M | 956.12M | 956.05M | 916.39M |
| Cash, Cash Equivalents and Short-Term Investments | 89.48M | 122.31M | 121.36M | 161.56M | 190.21M |
| Total Debt | 291.55M | 306.73M | 314.64M | 335.33M | 347.99M |
| Total Liabilities | 451.97M | 515.80M | 501.49M | 524.20M | 507.56M |
| Stockholders Equity | 307.07M | 363.74M | 454.63M | 431.85M | 408.83M |
Cash Flow | |||||
| Free Cash Flow | 5.62M | 57.58M | 12.04M | 25.90M | 35.36M |
| Operating Cash Flow | 13.76M | 76.88M | 38.46M | 56.90M | 73.66M |
| Investing Cash Flow | -7.54M | -22.36M | -31.35M | -47.94M | -37.76M |
| Financing Cash Flow | -33.99M | -61.29M | -46.71M | -38.64M | -33.10M |
Bertrandt Technical Analysis
Negative
18.24
Price Trends
11.91
Negative
14.90
Negative
16.85
Negative
Market Momentum
-0.67
Negative
33.10
Neutral
5.71
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:BDT, the sentiment is Negative. The current price of 18.24 is above the 20-day moving average (MA) of 10.00, above the 50-day MA of 11.91, and above the 200-day MA of 16.85, indicating a bearish trend. The MACD of -0.67 indicates Negative momentum. The RSI at 33.10 is Neutral, neither overbought nor oversold. The STOCH value of 5.71 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:BDT.
Bertrandt Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | €361.15M | 71.06 | 0.83% | 3.51% | -6.42% | ― | |
58 Neutral | €13.95B | -422.80 | -0.76% | 2.88% | -44.98% | -102.56% | |
54 Neutral | €7.83B | 82.62 | 3.07% | 1.17% | -2.77% | -69.52% | |
54 Neutral | €8.61B | 9.83 | 7.96% | 3.15% | 16.50% | 57.62% | |
47 Neutral | €94.18M | -1.78 | -16.41% | 1.38% | -14.82% | 44.17% | |
41 Neutral | €83.75M | -1.93 | -43.62% | 10.96% | -12.94% | -94.55% |
* Industrials Sector Average
DE:BDT
Bertrandt
9.32
-13.18
-58.58%
DE:ED4
EDAG Engineering
3.35
-2.13
-38.87%
DE:ZIL2
ElringKlinger
5.70
1.33
30.43%
DE:HLE
Hella KGaA Hueck & Co
70.50
-15.44
-17.96%
DE:SHA0
Schaeffler
9.11
5.09
126.39%
DE:CON
Continental Aktiengesellschaft
69.76
12.86
22.59%
Bertrandt Corporate Events
Other
Bertrandt Shareholder Frank Ferchau Increases Voting Stake to 12.86%
Neutral
May 20, 2026
Bertrandt AG disclosed a change in its shareholder structure following a voluntary group notification triggered by a subsidiary reaching a voting rights threshold. According to the announcement, investor Frank Ferchau, via holdings including FFI F...
Regulatory Filings and Compliance
LBBW Asset Management Raises Bertrandt Stake Above 5% Threshold
Positive
May 7, 2026
Bertrandt AG has disclosed that LBBW Asset Management Investmentgesellschaft mbH, acting for managed special funds, has increased its stake in the company to 5.02% of the voting rights. The position consists entirely of voting rights attached to s...
Business Operations and StrategyFinancial Disclosures
Bertrandt Cuts Full-Year Outlook After Revenue Slump Despite Cost Savings
Negative
Apr 27, 2026
Bertrandt AG, a German engineering services specialist for the automotive and technology sectors, generates revenue across its Digital Engineering, Physical Engineering, and Electrical/Electronics segments. The group focuses on development and tes...
Financial DisclosuresRegulatory Filings and Compliance
Bertrandt Schedules Key 2025/2026 Financial Report Dates
Neutral
Apr 21, 2026
Bertrandt AG has announced the planned publication dates for its upcoming group financial reports for the 2025/2026 fiscal year. The company will release its half-year figures on 13 May 2026 and its full-year results on 17 December 2026 via its in...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.