Stock

Akwel

AKW.PA
44
Auto - Parts · Consumer Cyclical
Also trades as: 0F8V.L GBP 0.06 (-1.52%)
Price
€6.64
+0.16 (+2.47%)
Market Cap
€176.3M
Exchange
Euronext Paris
Winston Score
44
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 12, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Weak
5/30
Growth
Weak
2/20
Cash Flow
Strong
7/10
Stability
Exceptional
10/10
Valuation
Strong
7/10
Ownership
Good
10/15
Dividends
Good
3/5

44 of 100 counted points = Winston Score 44.

§Winston Score History

The full picture

Akwel is a French company that makes parts for cars and trucks. It specializes in fluid management and mechatronic systems — basically the tubes, valves, and electronic-mechanical components that move fluids like fuel, oil, and coolant through a vehicle. Its main customers are large automakers, including Stellantis, Renault, and other global car manufacturers.

Akwel earns revenue by selling these components directly to automakers, mostly under long-term supply contracts tied to vehicle production volumes. The company operates across Europe, Asia, and North America, with a significant presence in France and Morocco. Its moat comes partly from deep integration into automaker supply chains, which makes switching suppliers costly and slow. However, Akwel faces real pressure as the auto industry shifts toward electric vehicles, since EVs require fewer traditional fluid management parts — meaning the company must adapt its product lineup or risk shrinking demand for its core business over time.

Share count broadly stable

−0.7% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 26.7M (2021) → 26.5M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
0.0%
Thin — 0.0% gross margin
Profit after running costs
Operating Margin
4.3%
Thin — 4.3% operating margin
Return on the money invested
ROCE
5.6%
Weak — 5.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
-13.2%
Shrinking sales (-13.2% YoY)
Profit growth
EPS YoY
-32.5%
Earnings shrinking (-32.5% YoY)

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

How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
404%
Turns 404% of profit into real cash
Spare cash per sale
FCF Margin
2.0%
Thin free cash flow (2.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.02
Conservative — low debt load (0.02)
Covers its interest
Interest Cover
21.40x
Comfortably covers interest (21.4x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
13.3x
Attractive valuation — P/E 13.3

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+1.3
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend
Dividend Yield
4.52%
Healthy income — 4.52% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
-14.0%
Dividend cut (-14.0% YoY) — warning sign
Payout Ratio
121%
no trend
Paying out more than the last 12 months of profit. The dividend is being funded from cash or borrowing, not this year’s earnings.

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