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Dr. Hoenle AG (DE:HNL)
XETRA:HNL
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Dr. Hoenle AG (HNL) AI Stock Analysis

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DE:HNL

Dr. Hoenle AG

(XETRA:HNL)

Rating:40Underperform
Price Target:
€8.00
▼(-1.96% Downside)
Dr. Hoenle AG's overall stock score is primarily impacted by its financial performance and technical analysis. The company faces significant financial challenges with declining revenues and persistent losses. Technical indicators suggest bearish momentum, with the stock trading below key moving averages and showing oversold signals. The negative P/E ratio and lack of dividend yield further weaken the stock's valuation.

Dr. Hoenle AG (HNL) vs. iShares MSCI Germany ETF (EWG)

Dr. Hoenle AG Business Overview & Revenue Model

Company DescriptionDr. Hönle AG supplies industrial UV technologies and systems in Germany and internationally. The company operates through three segments: Adhesives, Equipment & Systems, and Glass & Lamps. The Adhesives segment provides industrial adhesives for applications, such as consumer electronics, medical technology, optics and opto electronics, automotive, and glass processing. The Equipment & Systems segment engages in the drying of inks and coatings, curing of adhesives and plastics, disinfecting surfaces, and solar simulation. The Glass & Lamps segment offers quartz glass tubing and rods for the lamp, automotive, semiconductor, and fibre cable industries, as well as lamps for water disinfection, and the drying of coatings and adhesives. The company was founded in 1976 and is headquartered in Munich, Germany.
How the Company Makes MoneyDr. Hoenle AG generates revenue primarily through the sale of its UV technology products and systems, which include UV lamps, UV curing systems, and disinfection solutions. The company has established key revenue streams from both domestic and international markets, leveraging its expertise to serve various industries. Additionally, HNL may earn income from service contracts, maintenance agreements, and partnerships with manufacturers and distributors that enhance market reach. Strategic alliances with companies in related sectors also contribute to its earnings by facilitating technology integration and expanding product applications.

Dr. Hoenle AG Financial Statement Overview

Summary
Dr. Hoenle AG faces significant financial challenges, with declining revenues and persistent losses impacting profitability. While the balance sheet shows moderate leverage, the negative return on equity and operational inefficiencies are concerning. Cash flow improvements are a positive sign, but the company must focus on enhancing operational performance and profitability to ensure long-term financial stability.
Income Statement
35
Negative
Dr. Hoenle AG's income statement reveals significant challenges. The company has experienced declining revenue over recent periods, with a TTM revenue growth rate of -1.34%. Profitability metrics are concerning, with negative net profit and EBIT margins, indicating operational inefficiencies and potential cost management issues. The gross profit margin remains relatively stable, suggesting some resilience in core operations.
Balance Sheet
45
Neutral
The balance sheet shows moderate financial stability. The debt-to-equity ratio is at 0.65, indicating a manageable level of leverage. However, the return on equity is negative, reflecting ongoing losses. The equity ratio stands at 52.3%, suggesting a reasonable level of equity financing relative to assets, but the company needs to address profitability to improve overall financial health.
Cash Flow
50
Neutral
Cash flow analysis shows mixed results. The operating cash flow to net income ratio is positive, indicating some cash generation capability despite net losses. Free cash flow has grown significantly by 60.39% in the TTM period, which is a positive sign. However, the free cash flow to net income ratio suggests reliance on non-operational cash inflows, highlighting the need for improved operational performance.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue96.48M98.73M106.34M116.09M115.17M93.88M
Gross Profit57.53M60.07M53.35M69.28M69.34M60.54M
EBITDA4.66M3.02M779.00K20.41M14.02M14.82M
Net Income-13.59M-13.28M-11.01M-13.36M-4.82M5.68M
Balance Sheet
Total Assets149.36M155.38M176.16M195.46M202.91M196.20M
Cash, Cash Equivalents and Short-Term Investments5.91M7.51M9.32M7.13M12.07M34.17M
Total Debt50.80M53.24M56.89M59.53M53.64M46.41M
Total Liabilities71.11M75.70M80.02M88.22M91.78M79.51M
Stockholders Equity78.12M79.42M95.82M106.88M110.72M116.34M
Cash Flow
Free Cash Flow2.96M3.44M209.00K-11.71M-15.96M-22.96M
Operating Cash Flow4.90M5.53M3.14M-7.41M1.13M7.23M
Investing Cash Flow-195.00K-2.37M2.65M-1.69M-24.50M-30.74M
Financing Cash Flow-5.62M-4.90M-3.42M3.73M1.25M43.25M

Dr. Hoenle AG Technical Analysis

Technical Analysis Sentiment
Negative
Last Price8.16
Price Trends
50DMA
9.09
Negative
100DMA
9.29
Negative
200DMA
9.00
Negative
Market Momentum
MACD
-0.29
Negative
RSI
28.19
Positive
STOCH
13.89
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:HNL, the sentiment is Negative. The current price of 8.16 is below the 20-day moving average (MA) of 8.45, below the 50-day MA of 9.09, and below the 200-day MA of 9.00, indicating a bearish trend. The MACD of -0.29 indicates Negative momentum. The RSI at 28.19 is Positive, neither overbought nor oversold. The STOCH value of 13.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:HNL.

Dr. Hoenle AG Peers Comparison

Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
64
Neutral
$10.96B16.358.89%1.96%2.68%-15.17%
40
Underperform
€49.46M-15.84%-2.20%-153.32%
€44.86M21.26-5.76%
€38.62M
€42.41M6.806.39%
€68.90M11.316.79%
€56.88M12.1118.83%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
DE:HNL
Dr. Hoenle AG
8.16
-7.79
-48.84%
GB:0N2B
MS Industrie
1.63
0.12
7.95%
GB:0P5F
SHW AG
19.00
0.00
0.00%
GB:0FWF
SMT Scharf
7.00
-0.50
-6.67%
DE:TSS
InnoTec TSS AG
7.10
1.38
24.13%
DE:ALXA
Alexanderwerk AG
15.80
1.89
13.59%

Dr. Hoenle AG Corporate Events

Business Operations and StrategyFinancial Disclosures
Dr. Hönle AG Revises Financial Forecast for 2024/25
Neutral
Aug 5, 2025

Dr. Hönle AG has adjusted its financial forecast for the fiscal year 2024/25, anticipating revenues between €92 million and €94 million, down from the previous year’s €98.7 million. Despite the lower revenue expectations, the company projects an operating result before depreciation and amortization (EBITDA) between €5 million and €6 million, thanks to cost-cutting measures. This adjustment reflects the company’s strategic response to current market conditions and aims to maintain operational efficiency, potentially impacting stakeholders and the company’s market positioning.

The most recent analyst rating on (DE:HNL) stock is a Buy with a EUR22.00 price target. To see the full list of analyst forecasts on Dr. Hoenle AG stock, see the DE:HNL Stock Forecast page.

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.Date of analysis: Aug 20, 2025