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NORMA Group SE
(XETRA:NOEJ)
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Rating:63Neutral
Price Target:
€20.00
▲(21.07% Upside)
Action:Reiterated
Date:05/09/26
The score is driven by a strong balance sheet (low leverage) and very low valuation, offset by deteriorating operating performance (revenue decline, negative EBIT) and cash-flow weakening that questions the durability of the recent net income spike. Technically, the trend is positive but overbought signals suggest elevated near-term volatility.
Positive Factors
Low leverage / strong balance sheet
Very low debt-to-equity (~0.10) and a large equity base give NORMA durable financial flexibility. This reduces refinancing risk, supports capex or restructuring if markets soften, and allows the company to fund engineered product development and customer programs without stress for 2–6 months.
Negative Factors
Revenue deterioration
Sustained revenue declines (TTM -9.2% and fundamentals showing -21.6% revenue growth metric) signal weaker end-market demand or loss of content. Falling top line pressures operating leverage and makes recovery of margins and sustainable earnings generation unlikely without structural sales improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Very low debt-to-equity (~0.10) and a large equity base give NORMA durable financial flexibility. This reduces refinancing risk, supports capex or restructuring if markets soften, and allows the company to fund engineered product development and customer programs without stress for 2–6 months.
Read all positive factors
NORMA Group SE (NOEJ) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€583.08M
Dividend Yield2.77%
Average Volume (3M)133.99K
Price to Earnings (P/E)2.5
Beta (1Y)1.09
Revenue Growth-21.61%
EPS Growth9966.90%
CountryDE
Employees6,003
SectorIndustrials
Sector Strength72
IndustryManufacturing - Metal Fabrication
Share Statistics
EPS (TTM)7.30
Shares Outstanding31,862,400
10 Day Avg. Volume96,460
30 Day Avg. Volume133,987
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.82
Price to Sales (P/S)0.57
P/FCF Ratio9.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€18.50Price Target Upside11.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.39
Revenue Forecast (FY)€829.48M
NORMA Group SE Business Overview & Revenue Model
Company Description
NORMA Group SE, along with its subsidiaries, specializes in manufacturing and distributing engineered joining technology solutions worldwide, spanning Europe, the Middle East, Africa, the Americas, and Asia-Pacific. Their product range includes es...
How the Company Makes Money
NORMA Group primarily makes money by manufacturing and selling engineered connection and fluid-handling products to business customers (B2B). Its revenue model is largely product-sales driven: (1) Sales of standard and engineered components: NORMA...
NORMA Group SE Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
72
Positive
Cash Flow
55
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 821.66M | 1.16B | 1.22B | 1.24B | 1.09B |
| Gross Profit | 449.90M | 667.85M | 661.94M | 664.45M | 612.44M |
| EBITDA | 21.16M | 155.69M | 155.45M | 155.59M | 164.88M |
| Net Income | -81.75M | 14.70M | 27.83M | 39.07M | 55.93M |
Balance Sheet | |||||
| Total Assets | 1.25B | 1.44B | 1.49B | 1.56B | 1.50B |
| Cash, Cash Equivalents and Short-Term Investments | 87.28M | 133.23M | 165.21M | 171.49M | 188.22M |
| Total Debt | 389.84M | 455.28M | 529.25M | 516.74M | 501.79M |
| Total Liabilities | 686.60M | 715.26M | 799.84M | 855.32M | 829.64M |
| Stockholders Equity | 563.82M | 720.99M | 693.10M | 705.07M | 668.25M |
Cash Flow | |||||
| Free Cash Flow | 47.39M | 82.07M | 58.20M | 22.11M | 61.74M |
| Operating Cash Flow | 89.75M | 136.99M | 118.91M | 76.61M | 108.39M |
| Investing Cash Flow | -41.17M | -63.45M | -59.76M | -44.48M | -45.16M |
| Financing Cash Flow | -73.63M | -114.12M | -57.94M | -54.52M | -71.09M |
NORMA Group SE Technical Analysis
Positive
16.52
Price Trends
17.28
Positive
16.13
Positive
15.26
Positive
Market Momentum
0.36
Negative
64.78
Neutral
88.06
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:NOEJ, the sentiment is Positive. The current price of 16.52 is below the 20-day moving average (MA) of 17.62, below the 50-day MA of 17.28, and above the 200-day MA of 15.26, indicating a bullish trend. The MACD of 0.36 indicates Negative momentum. The RSI at 64.78 is Neutral, neither overbought nor oversold. The STOCH value of 88.06 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:NOEJ.
NORMA Group SE Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | €1.54B | 55.21 | 16.47% | 2.76% | 2.34% | 19.31% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | €583.08M | 2.55 | 34.87% | 2.77% | -21.61% | 9966.90% | |
58 Neutral | €894.89M | -67.84 | -3.07% | 2.81% | 37.83% | -126.40% | |
55 Neutral | €385.81M | 25.39 | 2.45% | 5.57% | -9.08% | -76.98% |
* Industrials Sector Average
DE:NOEJ
NORMA Group SE
18.60
3.07
19.74%
DE:KSB
KSB AG
956.00
23.83
2.56%
DE:SLT
Schaltbau Holding
64.00
3.18
5.23%
DE:SIM0
Simona AG
65.00
4.32
7.12%
DE:STM
Stabilus
15.74
-9.02
-36.44%
DE:JST
JOST Werke AG
54.50
3.05
5.94%
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.