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Andritz AG

ADRZF
62
Industrial - Machinery · Industrials
Price
$94.95
+0.00 (+0.00%)
Market Cap
$9.30B
Exchange
Other OTC
Winston Score
62
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Sep 9, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Good
Growth
Weak
Cash Flow
Strong
Stability
Exceptional
Valuation
Strong
Dividends
Strong

Share count falling — buybacks

1.4% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 99.5M (2021) → 98.1M (2025)

§Winston Score History

The full picture

Andritz AG, an Austrian technology group established in Graz in 1852, provides a wide array of plants, equipment, and services globally. Its business is structured into four main segments: Pulp & Paper, Metals, Hydro, and Separation, catering to industries ranging from pulp and paper manufacturing to metalworking, steel production, hydropower, and municipal and industrial solid/liquid separation. The Pulp & Paper division delivers sophisticated technology, automation, and support services for creating pulp, paper, board, and tissue products. This segment also supplies boilers for power generation, flue gas cleaning systems, machinery for nonwovens and panelboard production, and recycling and shredding solutions for various waste materials. The Metals segment offers comprehensive technologies, complete plant solutions, and digital tools—including automation and software—along with extensive process expertise and services. This division specializes in the fabrication and processing of flat metal products and welding systems, serving the broader metals processing industry, specifically for carbon steel, stainless steel, aluminum, and the automotive sector. The Hydro division is a premier provider of electromechanical equipment and related services for hydroelectric power generation facilities. Its portfolio also includes pumps for irrigation, water supply, and flood control, in addition to turbo generators. Finally, the Separation segment concentrates on mechanical and thermal technologies, complemented by associated automation and services, for solid/liquid separation processes. It addresses the requirements of the chemical, environmental, food, mining, and minerals industries, while also developing solutions for animal feed and biomass pellet production. Andritz maintains a strong international presence, with operations across Europe, North America, South America, China, and the rest of Asia.

Growth Profile

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

Revenue Growth

+8.3% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+5.7% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

€124M/ year

1.6% of revenue

Below sector average (4%)

Research and development spending

Cash Position

Cash flow positive

€1.2B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth context

Andritz AG is growing revenue at 8% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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
52.1%
Healthy — 52.1% gross margin
Profit after running costs
Operating Margin
7.5%
Modest — 7.5% operating margin
Return on the money invested
ROCE
21.6%
Exceptional — 21.6% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+1.3%
Nearly flat sales (+1.3% YoY)
Profit growth
EPS YoY
+0.8%
Flat earnings

Single-digit earnings growth — steady but not exciting.

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
166%
Turns 166% of profit into real cash
Spare cash per sale
FCF Margin
7.0%
Modest free cash flow (7.0%)

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
0.15
Conservative — low debt load (0.15)
Covers its interest
Interest Cover
11.19x
Comfortably covers interest (11.2x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
20.0x
Fair value — P/E 20.0

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
+7.3
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (20.0 → 12.7)

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Dividends

Dividend
Dividend Yield
3.27%
Moderate income — 3.27% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+106.7%
Dividend growing fast (106.7% YoY)

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