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Adler Group S.A.

ADJ.DE
22
Real Estate - Development · Real Estate
Price
€0.13
-0.01 (-4.94%)
Market Cap
€19.0M
Exchange
Deutsche Börse
Winston Score
22
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 25, 2026 · filings through Mar 31, 2026
How the score breaks down
Quality
Weak
Growth
Good
Cash Flow
Weak
Stability
Weak
Valuation
Data not available

Share count rising — dilution

+29.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 117.5M (2021) → 151.6M (2025)

Winston Score History

The full picture

Operating within Germany's property market, Adler Group S.A. focuses on residential real estate. Its activities are organized into two primary divisions: residential property management and the privatization of assets. The firm undertakes a comprehensive range of services for residential properties, encompassing leasing, property upkeep and modernization, tenant contract administration, and the marketing of available housing units. Furthermore, it manages a portfolio of commercial properties, handling their ownership, operation, and sale, alongside the ongoing modernization, maintenance, and overall management of occupied properties. Established in 2006 and headquartered in Senningerberg, Luxembourg, the entity was previously recognized as ADO Properties S.A. before adopting its current name, Adler Group S.A., in October 2020.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+333.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+93.7% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

€0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Cash Position

Cash flow positive

€4.1B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Adler Group S.A. grew revenue 333% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
10.7%
Thin — 10.7% gross margin
Profit after running costs
Operating Margin
-0.2%
Losing money on operations — -0.2%
Return on the money invested
ROCE
-4.3%
Weak — -4.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+50.0%
Fast-growing sales (+50.0% YoY)
Profit growth
EPS YoY
-142.5%
Earnings shrinking (-142.5% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-2.6%
Burning cash (-2.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
36.34
Heavy debt load (36.34)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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