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Westwing Group AG
(XETRA:WEW)
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Rating:69Neutral
Price Target:
€16.00
▲(14.29% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by improving financial performance—especially strong cash generation and an improving balance sheet—plus a relatively modest P/E valuation. These positives are tempered by weak technical momentum (price below key moving averages and negative MACD) and earnings-call near-term headwinds (margin pressure and softer Q3 expectations despite reaffirmed full-year guidance).
Positive Factors
Cash generation
Sustained improvement in operating and free cash flow shows durable cash conversion, supporting investment, buybacks and option settlements without needing external financing. Strong FCF relative to net income indicates higher earnings quality and gives management flexibility to fund expansion or absorb cyclical shocks.
Negative Factors
Margin pressure
Year-on-year margin erosion driven by mix shifts and cost pressures threatens long-term operating profitability. If higher-cost third-party assortment or lower Westwing-collection mix persists, sustaining mid-cycle margins will be harder, reducing the payoff from cash generation and weighing on returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained improvement in operating and free cash flow shows durable cash conversion, supporting investment, buybacks and option settlements without needing external financing. Strong FCF relative to net income indicates higher earnings quality and gives management flexibility to fund expansion or absorb cyclical shocks.
Read all positive factors
Westwing Group AG (WEW) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€255.10M
Dividend YieldN/A
Average Volume (3M)10.14K
Price to Earnings (P/E)9.4
Beta (1Y)0.66
Revenue Growth4.11%
EPS GrowthN/A
CountryDE
Employees1,240
SectorConsumer Cyclical
Sector Strength84
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)1.42
Shares Outstanding19,650,000
10 Day Avg. Volume10,229
30 Day Avg. Volume10,141
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)2.43
Price to Sales (P/S)0.48
P/FCF Ratio6.31
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)1.15
Revenue Forecast (FY)€477.60M
Westwing Group AG Business Overview & Revenue Model
Company Description
Westwing Group SE is an online retailer specializing in home and lifestyle products. Its operations are divided into two main segments: DACH and International. The company offers a wide array of items, including textiles, furniture, kitchenware, f...
How the Company Makes Money
Westwing primarily makes money by selling home & living products directly to end customers through its e-commerce platforms. Revenue is generated mainly from (1) product sales of third-party brands, where Westwing sources inventory from suppliers/...
Westwing Group AG Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call presents a generally constructive picture: solid top-line growth, successful geographic expansion (notably the strong U.K. launch), product assortment gains, completed technology modernization with clear future efficiency upside, an improved net cash position and underlying free-cash-flow improvement. These positives are tempered by near-term margin pressure driven by macro cost headwinds (transportation/fuel), portfolio mix shifts, one-off migration costs (~EUR 1.4m in Q2) and seasonally negative free cash flow (exacerbated by ~EUR 9m of stock option settlements). Management confirms FY guidance and expects most migration benefits to materialize by Q4, while flagging a softer Q3 driven by weather and a strong prior-year comparison. On balance the strategic progress, cash strength and expansion momentum outweigh the temporary operational and macro headwinds.Positive Updates
Strong Top-Line Growth
Revenue for Q2 2026 increased 14% year-over-year to EUR 113 million; revenue growth for the first six months was 13% year-over-year. Company confirms full-year revenue guidance of EUR 470–495 million (5%–10% YoY) and expects revenue to land in the upper half of that range.
Negative Updates
Profitability Pressure and Lower Margins
Adjusted EBITDA for Q2 reported at approximately EUR 5.0–5.4 million (adjusted EBITDA margin 4.8%), down ~EUR 0.8 million year-over-year. Adjusted EBIT margin came in at 1.3%, down ~1 percentage point year-over-year. Management attributes the decline primarily to temporary and macro-driven factors.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Top-Line Growth
Revenue for Q2 2026 increased 14% year-over-year to EUR 113 million; revenue growth for the first six months was 13% year-over-year. Company confirms full-year revenue guidance of EUR 470–495 million (5%–10% YoY) and expects revenue to land in the upper half of that range.
Read all positive updates
Company Guidance
Westwing confirmed its FY‑2026 guidance with revenue expected at EUR 470–495 million (+5–10% YoY) and adjusted EBITDA targeted at EUR 36–48 million (7.7–9.7% margin), noting revenue should land in the upper half of that range; Q2 revenue was EUR 113 million (+14% YoY) and H1 revenue growth was +13%, Q2 adjusted EBITDA was ~EUR 5–5.4 million (adjusted EBITDA margin 4.8%), Q2 free cash flow was negative EUR 9.4 million (including ~EUR 9.5 million of mostly legacy stock‑option settlements), net cash stood at EUR 68 million, net working capital was negative ≈EUR 5–5.5 million (an ~EUR 11 million YoY improvement), CapEx H1 was EUR 6 million (CapEx ratio 2.4%), and management warned Q3 growth will be below H1 after July was broadly flat (weather‑driven); they expect system‑migration one‑offs (≈EUR 1.4 million in Q2) to fall in Q3 with full benefits materializing from Q4 and reiterated a CapEx‑light model and disciplined capital allocation (including a completed EUR 8 million/≈512k‑share buyback).Westwing Group AG Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
81
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 461.40M | 449.20M | 444.40M | 428.60M | 430.90M | 522.40M |
| Gross Profit | 238.20M | 222.80M | 225.70M | 212.90M | 202.80M | 256.70M |
| EBITDA | 33.00M | 37.40M | 17.10M | 12.40M | -11.00M | 33.40M |
| Net Income | 26.70M | 29.10M | -5.00M | -12.40M | -32.40M | 12.00M |
Balance Sheet | ||||||
| Total Assets | 222.50M | 235.70M | 199.30M | 203.40M | 228.30M | 277.40M |
| Cash, Cash Equivalents and Short-Term Investments | 83.50M | 91.90M | 68.80M | 81.50M | 76.00M | 97.30M |
| Total Debt | 27.70M | 30.40M | 33.40M | 36.70M | 44.70M | 45.80M |
| Total Liabilities | 136.10M | 146.50M | 139.90M | 128.40M | 138.20M | 158.10M |
| Stockholders Equity | 86.40M | 89.20M | 59.40M | 75.00M | 90.10M | 119.30M |
Cash Flow | ||||||
| Free Cash Flow | 41.70M | 34.30M | 6.40M | 27.90M | -21.40M | 3.80M |
| Operating Cash Flow | 47.80M | 38.60M | 16.60M | 33.30M | -7.50M | 18.70M |
| Investing Cash Flow | -7.60M | -5.70M | -7.50M | -3.80M | -11.40M | -16.00M |
| Financing Cash Flow | -13.30M | -9.80M | -21.80M | -23.90M | -2.70M | -9.70M |
Westwing Group AG Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | €255.10M | 9.39 | 36.00% | ― | 4.11% | ― | |
63 Neutral | €1.33B | 10.05 | 6.29% | 2.98% | 3.55% | -12.57% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | €18.50M | -735.00 | <0.01% | 1.90% | -6.38% | ― | |
53 Neutral | €85.72M | 386.67 | 0.36% | ― | -0.56% | ― | |
51 Neutral | €411.94M | -70.91 | -1.67% | 5.41% | -9.50% | -136.32% |
* Consumer Cyclical Sector Average
DE:WEW
Westwing Group AG
14.50
4.62
46.76%
DE:ACWN
A.S. Creation Tapeten AG
7.35
0.15
2.07%
DE:HBM
HORNBACH Baumarkt
62.50
-0.59
-0.93%
DE:ECK
Ludwig Beck am Rathauseck Textilhaus Feldmeier
23.00
10.00
76.92%
DE:VIB3
Villeroy & Boch
15.40
-1.05
-6.37%
DE:HBH
HORNBACH Holding AG & Co
84.70
-14.01
-14.19%
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.