ProCredit Holding AG (DE:PCZ)
XETRA:PCZ
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ProCredit Holding AG
(XETRA:PCZ)
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Rating:53Neutral
Price Target:
€8.50
▼(-0.47% Downside)
Action:Reiterated
Date:03/24/26
The score is held back primarily by weak cash flow (negative operating and free cash flow) and a meaningful recent increase in debt, alongside deteriorating latest-year revenue and earnings momentum. Valuation is a key offset with a low P/E and high dividend yield, but technicals remain bearish with the price below all major moving averages and negative MACD.
Positive Factors
Focused MSME franchise in emerging markets
A durable business model: serving MSMEs across multiple emerging European markets creates recurring loan and deposit flows tied to commercial banking activities. This client focus supports stable net interest and fee income over time and leverages local banking subsidiaries for diversified country exposure.
Negative Factors
Weak cash generation
Persistent negative operating and free cash flow reduces internal funding capacity and forces greater reliance on external financing. Over months this weakens financial flexibility, raises refinancing and liquidity risk for a bank that needs stable deposit and wholesale funding to support lending.
Read all positive and negative factors
Positive Factors
Negative Factors
Focused MSME franchise in emerging markets
A durable business model: serving MSMEs across multiple emerging European markets creates recurring loan and deposit flows tied to commercial banking activities. This client focus supports stable net interest and fee income over time and leverages local banking subsidiaries for diversified country exposure.
Read all positive factors
ProCredit Holding AG (PCZ) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€471.78M
Dividend Yield7.13%
Average Volume (3M)118.91K
Price to Earnings (P/E)5.0
Beta (1Y)1.07
Revenue Growth3.97%
EPS Growth-16.74%
CountryDE
Employees4,530
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.59
Shares Outstanding58,898,490
10 Day Avg. Volume131,803
30 Day Avg. Volume118,910
Financial Highlights & Ratios
PEG Ratio-0.30
Price to Book (P/B)0.46
Price to Sales (P/S)0.66
P/FCF Ratio-3.52
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€15.50Price Target Upside81.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)1.47
Revenue Forecast (FY)€475.95M
ProCredit Holding AG Business Overview & Revenue Model
Company Description
ProCredit Holding AG & Co. KGaA, together with its subsidiaries, provides commercial banking services for small and medium enterprises and private customers in Europe, South America, and Germany. The company's financial products; business loans fo...
How the Company Makes Money
ProCredit Holding AG makes money primarily through its banking subsidiaries by earning net interest income and fee and commission income.
1) Net interest income (core earnings driver): The group collects customer deposits and other funding and us...
ProCredit Holding AG Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
52
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 984.20M | 750.83M | 692.08M | 625.68M | 478.44M | 390.74M |
| Gross Profit | 746.69M | 497.91M | 461.15M | 432.38M | 358.75M | 302.32M |
| EBITDA | 135.10M | 130.32M | 167.82M | 187.36M | 152.33M | 125.21M |
| Net Income | 93.73M | 83.50M | 104.31M | 113.37M | 16.50M | 79.64M |
Balance Sheet | ||||||
| Total Assets | 10.71B | 11.60B | 10.75B | 9.75B | 8.83B | 8.22B |
| Cash, Cash Equivalents and Short-Term Investments | 1.91B | 2.17B | 2.16B | 2.35B | 1.94B | 1.55B |
| Total Debt | 444.09M | 1.32B | 377.80M | 313.03M | 309.98M | 460.62M |
| Total Liabilities | 9.68B | 10.52B | 9.70B | 8.77B | 7.96B | 7.36B |
| Stockholders Equity | 1.04B | 1.07B | 1.06B | 983.79M | 869.43M | 856.31M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -141.13M | -217.78M | 1.41M | 545.71M | 115.66M |
| Operating Cash Flow | 0.00 | -99.77M | -176.75M | 29.26M | 566.94M | 133.15M |
| Investing Cash Flow | 0.00 | -823.09M | -35.98M | -22.42M | -12.48M | -13.44M |
| Financing Cash Flow | 0.00 | 770.65M | 54.85M | 1.01B | -1.30M | -36.01M |
ProCredit Holding AG Technical Analysis
Negative
8.54
Price Trends
8.01
Negative
8.22
Negative
8.49
Negative
Market Momentum
-0.05
Positive
46.75
Neutral
65.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:PCZ, the sentiment is Negative. The current price of 8.54 is above the 20-day moving average (MA) of 8.10, above the 50-day MA of 8.01, and above the 200-day MA of 8.49, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 46.75 is Neutral, neither overbought nor oversold. The STOCH value of 65.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:PCZ.
ProCredit Holding AG Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | €50.40B | 5.72 | 9.12% | 2.04% | -7.77% | 47.35% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
57 Neutral | €40.52B | 9.51 | 8.41% | 1.82% | -4.17% | -0.03% | |
54 Neutral | €593.28M | 9.89 | 5.31% | 2.63% | 14.40% | 10.33% | |
53 Neutral | €471.78M | 4.95 | 7.88% | 7.13% | 3.97% | -16.74% | |
44 Neutral | €156.07M | 13.15 | 1.61% | ― | ― | ― | |
42 Neutral | €463.13M | -3.38 | -10.36% | 3.61% | -25.75% | -496.17% |
* Financial Sector Average
DE:PCZ
ProCredit Holding AG
7.98
-2.02
-20.23%
DE:DBK
Deutsche Bank AG
26.90
2.09
8.43%
DE:CBK
Commerzbank
36.13
9.84
37.43%
DE:PBB
Deutsche Pfandbriefbank
3.35
-2.00
-37.30%
DE:GLJ
GRENKE AG
12.54
-0.59
-4.49%
DE:UBK
UmweltBank AG
3.85
-1.07
-21.75%
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.