Dr. Hoenle AG (DE:HNL)
XETRA:HNL
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Dr. Hoenle AG
(XETRA:HNL)
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Rating:57Neutral
Price Target:
€10.00
▲(40.85% Upside)
Action:Reiterated
Date:05/22/26
The score is held back mainly by weak financial performance (declining revenue and still-negative profitability), partly offset by improving cash flow and manageable leverage. Technical indicators are moderately positive (price above key moving averages with neutral RSI), while valuation appears roughly middle-of-the-road based on the provided P/E and no dividend yield data.
Positive Factors
Improving cash generation
Sustained positive operating and free cash flow signals the business can self-fund working capital and incremental investment without relying solely on external financing. Over 2–6 months this supports operational stability, funds replacement parts inventories for recurring revenue, and provides limited capacity for strategic spend or debt paydown.
Negative Factors
Multi-year revenue decline
A persistent revenue downtrend indicates structural demand or market-share challenges that are unlikely to reverse immediately. Continued contraction reduces operating leverage, restrains reinvestment capacity, and makes it harder to restore sustained profitability without clear new product wins or market expansion initiatives over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving cash generation
Sustained positive operating and free cash flow signals the business can self-fund working capital and incremental investment without relying solely on external financing. Over 2–6 months this supports operational stability, funds replacement parts inventories for recurring revenue, and provides limited capacity for strategic spend or debt paydown.
Read all positive factors
Dr. Hoenle AG (HNL) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€56.50M
Dividend YieldN/A
Average Volume (3M)6.13K
Price to Earnings (P/E)―
Beta (1Y)0.84
Revenue Growth-6.09%
EPS Growth72.23%
CountryDE
Employees585
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.59
Shares Outstanding6,062,930
10 Day Avg. Volume3,193
30 Day Avg. Volume6,130
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)0.65
Price to Sales (P/S)0.53
P/FCF Ratio15.82
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)>-0.01
Revenue Forecast (FY)€99.60M
Dr. Hoenle AG Business Overview & Revenue Model
Company Description
Dr. 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 ap...
How the Company Makes Money
Dr. Hönle AG generates revenue primarily by selling industrial UV and LED equipment and by providing associated recurring product and service streams. Key revenue sources include: (1) Sale of UV/LED curing systems and components: The company suppl...
Dr. Hoenle AG Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
57
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 91.83M | 93.68M | 98.73M | 106.34M | 116.09M | 115.17M |
| Gross Profit | 12.09M | 12.47M | 60.07M | 53.35M | 69.28M | 69.34M |
| EBITDA | 5.64M | 6.00M | 3.02M | 539.00K | 20.41M | 14.02M |
| Net Income | -3.60M | -3.17M | -13.28M | -11.01M | -13.36M | -4.82M |
Balance Sheet | ||||||
| Total Assets | 144.28M | 145.52M | 155.38M | 176.16M | 195.46M | 202.91M |
| Cash, Cash Equivalents and Short-Term Investments | 7.04M | 7.75M | 7.51M | 9.32M | 7.13M | 12.07M |
| Total Debt | 48.01M | 48.25M | 53.24M | 56.89M | 59.53M | 53.64M |
| Total Liabilities | 67.66M | 68.48M | 75.70M | 80.02M | 88.22M | 91.78M |
| Stockholders Equity | 76.45M | 76.87M | 79.42M | 95.82M | 106.88M | 110.72M |
Cash Flow | ||||||
| Free Cash Flow | 3.85M | 3.17M | 3.44M | 209.00K | -11.71M | -15.96M |
| Operating Cash Flow | 5.51M | 5.06M | 5.53M | 3.14M | -7.41M | 1.13M |
| Investing Cash Flow | 1.80M | 1.49M | -2.37M | 2.65M | -1.69M | -24.50M |
| Financing Cash Flow | -5.75M | -6.44M | -4.90M | -3.42M | 3.73M | 1.25M |
Dr. Hoenle AG Technical Analysis
Neutral
7.10
Price Trends
9.19
Positive
9.19
Positive
8.44
Positive
Market Momentum
0.06
Positive
47.61
Neutral
67.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:HNL, the sentiment is Neutral. The current price of 7.1 is below the 20-day moving average (MA) of 9.46, below the 50-day MA of 9.19, and below the 200-day MA of 8.44, indicating a neutral trend. The MACD of 0.06 indicates Positive momentum. The RSI at 47.61 is Neutral, neither overbought nor oversold. The STOCH value of 67.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DE:HNL.
Dr. Hoenle AG Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | €1.72B | 51.19 | 10.88% | 0.78% | -1.96% | -40.65% | |
57 Neutral | €56.50M | -15.71 | -4.69% | ― | -6.09% | 72.23% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €171.57M | -37.40 | -2.41% | ― | -8.60% | -107.57% | |
54 Neutral | €521.78M | -29.90 | -21.53% | ― | -12.83% | -372.97% | |
50 Neutral | €57.47M | -10.67 | 10.78% | ― | -36.41% | -162.95% |
* General Sector Average
DE:HNL
Dr. Hoenle AG
9.32
-0.66
-6.61%
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200.47%
DE:SMHN
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121.77%
Dr. Hoenle AG Corporate Events
Financial Disclosures
Hoenle AG Schedules Release of 2025/26 Half-Year Group Report
Neutral
Apr 10, 2026
Hoenle AG has announced that it will publish its consolidated half-year report for the 2025/26 financial year on 19 May 2026. The report will cover the period from 1 October 2025 to 31 March 2026 and will be made available on the company’s i...
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.