PNE WIND AG (DE:PNE3)
XETRA:PNE3
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PNE WIND
(XETRA:PNE3)
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Rating:43Neutral
Price Target:
€8.50
▼(-2.86% Downside)
Action:ReiteratedDate:03/27/26
The score is held down primarily by weak financial performance—high leverage, shrinking equity, and ongoing negative operating and free cash flow alongside worsening losses. Technicals add further pressure given the sustained downtrend and negative MACD. Valuation provides only limited support because earnings are negative and the dividend yield is low.
Positive Factors
High gross margin
Gross margin near 58.6% shows PNE captures meaningful spreads on project development and construction activity. That margin cushion supports absorption of project cost variability, underpins project-level economics, and helps sustain profitability at the operating level over time.
Negative Factors
Very high leverage
Debt-to-equity near 5.8x and rising debt materially increase refinancing, interest and covenant risk. In a capital-intensive, timing-sensitive renewable development business this leverage magnifies earnings volatility, constrains strategic flexibility and raises the chance of financing stress.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin
Gross margin near 58.6% shows PNE captures meaningful spreads on project development and construction activity. That margin cushion supports absorption of project cost variability, underpins project-level economics, and helps sustain profitability at the operating level over time.
Read all positive factors
PNE WIND (PNE3) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€667.94M
Dividend Yield0.4%
Average Volume (3M)62.54K
Price to Earnings (P/E)―
Beta (1Y)0.59
Revenue Growth122.85%
EPS Growth98.21%
CountryDE
Employees680
SectorGeneral
Sector StrengthN/A
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.09
Shares Outstanding76,603,330
10 Day Avg. Volume53,092
30 Day Avg. Volume62,543
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)4.97
Price to Sales (P/S)3.36
P/FCF Ratio-5.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€15.10Price Target Upside72.57% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.17
Revenue Forecast (FY)€336.12M
PNE WIND Business Overview & Revenue Model
Company Description
PNE AG engages in the development, planning, realization, financing, operation, and sales of wind and photovoltaic (PV) farms and transformer stations in Germany and internationally. The company develops, constructs, and sells onshore and offshore...
How the Company Makes Money
PNE primarily generates revenue through (1) selling renewable energy projects it develops (notably wind farms) to third-party investors/utilities after reaching ready-to-build or commissioning stages, earning proceeds that reflect development marg...
PNE WIND Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
28
Negative
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 230.20M | 210.40M | 121.53M | 126.17M | 117.73M |
| Gross Profit | 72.60M | 71.70M | 109.58M | 100.53M | 81.57M |
| EBITDA | 65.90M | 62.30M | 40.90M | 63.51M | 36.13M |
| Net Income | -43.10M | -13.40M | -9.60M | 14.90M | 25.13M |
Balance Sheet | |||||
| Total Assets | 1.21B | 1.26B | 1.10B | 920.34M | 827.00M |
| Cash, Cash Equivalents and Short-Term Investments | 78.10M | 91.60M | 90.40M | 121.58M | 149.63M |
| Total Debt | 808.70M | 893.20M | 766.42M | 569.97M | 511.86M |
| Total Liabilities | 1.06B | 1.07B | 893.55M | 688.18M | 605.21M |
| Stockholders Equity | 155.70M | 197.50M | 211.57M | 237.75M | 229.18M |
Cash Flow | |||||
| Free Cash Flow | -153.90M | -211.30M | -191.64M | -104.65M | -89.05M |
| Operating Cash Flow | -50.00M | -176.60M | -166.16M | -9.01M | 23.78M |
| Investing Cash Flow | -63.00M | -29.60M | -20.13M | -98.08M | -81.99M |
| Financing Cash Flow | 101.40M | 220.80M | 155.11M | 79.20M | 111.97M |
PNE WIND Technical Analysis
Neutral
8.75
Price Trends
8.71
Positive
9.40
Negative
11.49
Negative
Market Momentum
-0.09
Negative
56.96
Neutral
86.63
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:PNE3, the sentiment is Neutral. The current price of 8.75 is above the 20-day moving average (MA) of 8.10, above the 50-day MA of 8.71, and below the 200-day MA of 11.49, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 56.96 is Neutral, neither overbought nor oversold. The STOCH value of 86.63 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DE:PNE3.
PNE WIND Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | €43.89B | 10.13 | 6.86% | 2.46% | -8.65% | -17.97% | |
60 Neutral | €491.99M | 6.36 | 17.42% | 1.48% | -51.12% | -53.26% | |
57 Neutral | €22.95B | -97.13 | -1.75% | 2.23% | -8.11% | -60.54% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €51.49B | 24.31 | 9.46% | 3.44% | 0.77% | 67.07% | |
49 Neutral | €2.03B | 25.33 | 4.86% | 4.07% | -8.49% | -31.95% | |
43 Neutral | €667.94M | -17.95 | -25.22% | 0.40% | 122.85% | 98.21% |
* General Sector Average
DE:PNE3
PNE WIND
8.75
-4.86
-35.69%
DE:EOAN
E.ON SE
19.71
6.60
50.37%
DE:EBK
EnBW Energie Baden-Wurttemberg
71.00
9.44
15.34%
DE:EKT
Energiekontor
35.35
-5.05
-12.50%
DE:MVV1
MVV Energie
30.80
3.92
14.60%
DE:RWE
RWE AG
59.00
28.70
94.71%
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.