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CSG B.V.
(CSG)
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Rating:56Neutral
Price Target:
€18.00
▲(16.05% Upside)
Action:Reiterated
Date:07/23/26
The score is primarily constrained by financial quality concerns—especially the sharp swing to negative operating and free cash flow in 2025 alongside elevated and rising leverage—despite solid profitability and re-accelerating revenue growth. Technicals are mixed (better short-term trend vs. weaker longer-term trend and slightly negative MACD), while valuation cannot be reliably assessed due to missing/invalid P/E and dividend yield data.
Positive Factors
Revenue Growth
A sharp re-acceleration to +21.8% YoY in 2025 indicates recovering end-market demand and improved order/mix dynamics. Sustained mid-to-high single digit or better growth over several quarters would support capacity utilization, scale benefits, and durable top-line momentum for reinvestment.
Negative Factors
Rising Leverage
A debt-to-equity near 3x materially increases refinancing, interest-rate and covenant risk, reducing balance-sheet flexibility. Over a multi-quarter horizon, higher leverage constrains strategic options, raises financing costs, and magnifies downside during revenue or cash-flow softness.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
A sharp re-acceleration to +21.8% YoY in 2025 indicates recovering end-market demand and improved order/mix dynamics. Sustained mid-to-high single digit or better growth over several quarters would support capacity utilization, scale benefits, and durable top-line momentum for reinvestment.
Read all positive factors
CSG B.V. (CSG) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€16.52B
Dividend YieldN/A
Average Volume (3M)N/A
Price to Earnings (P/E)―
Beta (1Y)1.00
Revenue GrowthN/A
EPS GrowthN/A
CountryNL
Employees10,572
SectorGeneral
Sector StrengthN/A
IndustryAerospace & Defense
Share Statistics
EPS (TTM)0.00
Shares Outstanding1,000,000,000
10 Day Avg. VolumeN/A
30 Day Avg. VolumeN/A
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€27.40Price Target Upside76.66% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)1.09
Revenue Forecast (FY)€7.49B
CSG B.V. Business Overview & Revenue Model
Company Description
Established in 1995 and headquartered in Prague, Czech Republic, CSG N.V. is a defense manufacturer and distributor operating globally, with significant presence across Europe, the United States, and the Asia-Pacific region. The company organizes ...
How the Company Makes Money
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CSG B.V. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
52
Neutral
Cash Flow
33
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.74B | 5.18B | 1.73B | 24.93B | 14.44B |
| Gross Profit | 3.04B | 2.55B | 775.15M | 10.32B | 6.60B |
| EBITDA | 1.74B | 1.55B | 429.62M | 5.95B | 2.83B |
| Net Income | 694.06M | 549.26M | 174.06M | 2.97B | 1.23B |
Balance Sheet | |||||
| Total Assets | 9.65B | 8.03B | 3.35B | 2.54B | 1.10B |
| Cash, Cash Equivalents and Short-Term Investments | 837.23M | 1.25B | 563.87M | 241.65M | 104.01M |
| Total Debt | 4.31B | 3.02B | 1.14B | 881.24M | 366.69M |
| Total Liabilities | 7.92B | 6.54B | 2.67B | 2.04B | 730.15M |
| Stockholders Equity | 1.44B | 1.18B | 460.44M | 316.58M | 346.50M |
Cash Flow | |||||
| Free Cash Flow | -269.75M | 739.25M | 124.88M | 5.59B | 2.21B |
| Operating Cash Flow | -44.52M | 856.06M | 199.13M | 7.19B | 3.30B |
| Investing Cash Flow | -715.63M | -2.08B | -70.46M | -14.34B | -1.37B |
| Financing Cash Flow | 1.02B | 1.92B | 190.71M | 10.37B | -1.03B |
CSG B.V. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | €547.84B | 52.04 | 52.37% | 0.50% | 9.84% | 14.73% | |
74 Outperform | €1.70B | 17.96 | 11.04% | 3.14% | 2.83% | -8.11% | |
68 Neutral | €38.99B | 36.47 | 25.25% | 0.38% | 3.11% | 104.56% | |
59 Neutral | €16.00B | 75.67 | 46.17% | 0.70% | 21.85% | 22.85% | |
56 Neutral | €16.52B | ― | ― | ― | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
43 Neutral | €1.07B | 282.58 | -2.18% | 1.50% | 11.82% | -51.11% |
* General Sector Average
NL:CSG
CSG B.V.
17.71
-15.14
-46.08%
NL:AMG
AMG ADVANCED METALLURGICAL GROUP NV
32.24
8.07
33.41%
NL:ASM
ASM International NV
854.00
434.93
103.79%
NL:ASML
ASML Holding NV
1,499.00
876.07
140.64%
NL:BESI
BE Semiconductor
221.40
100.61
83.30%
NL:TWEKA
TKH Group N.V.
45.00
10.24
29.44%
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.