WinstonWınston
Stock

Arbonia AG

ARBN.SW
25
Construction Materials · Basic Materials
Also trades as: 0QKR.L GBP 0.05 (-1.82%)
Price
CHF 4.59
+0.01 (+0.11%)
Market Cap
CHF 318.9M
Exchange
SIX Swiss Exchange
Winston Score
25
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Oct 5, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Weak
2/30
Growth
Mixed
5/20
Cash Flow
Weak
0/10
Stability
Good
5/10
Valuation
Data not available
0/10
Ownership
Good
10/15
Dividends
Good
3/5

25 of 100 counted points = Winston Score 25.

§Winston Score History

The full picture

Arbonia AG is a Swiss industrial company that makes products used inside buildings — mainly heating systems and interior doors. Its core products include radiators, underfloor heating systems, and room doors sold to construction companies, building developers, and renovation contractors across Europe. The company is one of the larger European manufacturers of steel panel radiators and interior door systems.

Arbonia earns revenue by selling these physical products, primarily to the construction and renovation markets in Germany, Switzerland, and broader Central and Eastern Europe. With a market cap around $0.3 billion, it is a mid-sized niche manufacturer whose competitive position relies on established distribution networks and recognized product brands in its home markets. The key growth driver is the ongoing European push to renovate older buildings for energy efficiency, which increases demand for modern heating systems — though a slowdown in European construction activity remains the main risk to near-term revenues.

Growth Profile

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

Revenue Growth

+3.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-221.6% YoY

YoY Growth Rate

Earnings declining

R&D Spend

CHF 5M/ year

↑ Rising (+63% vs prior year)

0.8% of revenue

Below sector average (3%)

R&D investment increasing — building for the future

Insider Activity

22.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~4 months

CHF 41M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Arbonia AG has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

Share count broadly stable

+0.3% over 4y

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

Diluted shares outstanding: 69.2M (2021) → 69.4M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
15.4%
Thin — 15.4% gross margin
Profit after running costs
Operating Margin
-1.4%
Losing money on operations — -1.4%
Return on the money invested
ROCE
-0.9%
Weak — -0.9% 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
+8.6%
Steady sales growth (+8.6% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-2.8%
Burning cash (-2.8%)

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
0.28
Conservative — low debt load (0.28)
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

Dividend
Dividend Yield
6.07%
Healthy income — 6.07% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
N/A
Data not available

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