CEWE Stiftung & Co. KGaA (DE:CWC)
XETRA:CWC
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CEWE Stiftung & Co. KGaA
(XETRA:CWC)
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Rating:70Outperform
Price Target:
€99.00
▲(1.75% Upside)
Action:ReiteratedDate:03/29/26
The score is driven primarily by strong financial quality (low leverage, stable profitability, and accelerating revenue) and supportive valuation (low P/E and solid dividend yield). It is held back by clear technical weakness (price below major moving averages with negative momentum) and a notable 2025 free cash flow drop plus data-quality gaps in 2025 metrics.
Positive Factors
Conservative balance sheet
Low leverage and consistent equity growth provide durable financial flexibility. With debt roughly 0.10–0.20x historically and healthy mid‑teens returns on capital, CEWE can fund organic growth, sustain dividends and absorb demand cyclicality without relying on costly external financing.
Negative Factors
Free cash flow volatility
A 39% drop in free cash flow despite solid OCF suggests heavy reinvestment or working-capital strain. Persistent FCF variability reduces flexibility for dividends, buybacks or M&A and makes multi‑period cash planning and margin sustainability harder to rely on.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and consistent equity growth provide durable financial flexibility. With debt roughly 0.10–0.20x historically and healthy mid‑teens returns on capital, CEWE can fund organic growth, sustain dividends and absorb demand cyclicality without relying on costly external financing.
Read all positive factors
CEWE Stiftung & Co. KGaA (CWC) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€673.47M
Dividend Yield2.81%
Average Volume (3M)7.36K
Price to Earnings (P/E)3.1
Beta (1Y)0.37
Revenue GrowthN/A
EPS GrowthN/A
CountryDE
Employees4,020
SectorGeneral
Sector StrengthN/A
IndustryPersonal Products & Services
Share Statistics
EPS (TTM)N/A
Shares Outstanding7,442,003
10 Day Avg. Volume7,995
30 Day Avg. Volume7,358
Financial Highlights & Ratios
PEG Ratio-5.59
Price to Book (P/B)1.57
Price to Sales (P/S)0.82
P/FCF Ratio16.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€130.33Price Target Upside33.95% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)9.27
Revenue Forecast (FY)€885.60M
CEWE Stiftung & Co. KGaA Business Overview & Revenue Model
Company Description
CEWE Stiftung & Co. KGaA operates as a photo service and online printing provider in Germany and internationally. It operates through three segments: Photofinishing, Retail, and Commercial Online Printing. The company offers photo prints, photo bo...
How the Company Makes Money
CEWE makes money by monetizing the creation, production, and fulfillment of personalized photo products and by providing photo services through retail and partner channels. (1) Personalized photo products (core revenue stream): Customers design pr...
CEWE Stiftung & Co. KGaA Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 862.64M | 864.50M | 832.79M | 780.20M | 732.73M | 692.76M |
| Gross Profit | 684.78M | 366.96M | 677.22M | 324.52M | 299.25M | 282.43M |
| EBITDA | 138.79M | 143.61M | 142.65M | 142.21M | 129.58M | 126.66M |
| Net Income | 55.09M | 58.00M | 60.07M | 57.31M | 51.06M | 48.90M |
Balance Sheet | ||||||
| Total Assets | 602.87M | 749.18M | 716.85M | 673.34M | 632.71M | 599.53M |
| Cash, Cash Equivalents and Short-Term Investments | 70.23M | 149.41M | 150.27M | 117.37M | 73.07M | 84.39M |
| Total Debt | 47.10M | 41.13M | 43.09M | 46.65M | 50.58M | 53.96M |
| Total Liabilities | 200.52M | 295.99M | 293.01M | 284.10M | 269.94M | 263.70M |
| Stockholders Equity | 402.35M | 453.19M | 423.84M | 389.24M | 362.76M | 335.83M |
Cash Flow | ||||||
| Free Cash Flow | 70.71M | 43.28M | 75.66M | 77.89M | 38.03M | 27.15M |
| Operating Cash Flow | 122.62M | 104.14M | 131.89M | 130.77M | 93.36M | 65.61M |
| Investing Cash Flow | -54.90M | -60.49M | -58.09M | -47.93M | -61.89M | -44.14M |
| Financing Cash Flow | -46.88M | -44.50M | -40.78M | -38.90M | -42.60M | -40.11M |
CEWE Stiftung & Co. KGaA Technical Analysis
Negative
97.30
Price Trends
98.79
Negative
100.45
Negative
99.75
Negative
Market Momentum
-2.21
Positive
41.80
Neutral
47.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:CWC, the sentiment is Negative. The current price of 97.3 is above the 20-day moving average (MA) of 95.29, below the 50-day MA of 98.79, and below the 200-day MA of 99.75, indicating a bearish trend. The MACD of -2.21 indicates Positive momentum. The RSI at 41.80 is Neutral, neither overbought nor oversold. The STOCH value of 47.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:CWC.
CEWE Stiftung & Co. KGaA Peers Comparison
UnderperformOutperform
Sector (55)
DE:CWC
CEWE Stiftung & Co. KGaA
93.00
-3.09
-3.21%
DE:ACWN
A.S. Creation Tapeten AG
7.40
1.50
25.42%
DE:BST
Bastei Luebbe
6.52
-4.09
-38.54%
DE:BIJ
Bijou Brigitte Modische Accessoires
48.20
12.83
36.26%
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.