ATOSS Software AG

AOF.DE

Software - Application · Technology

Also trades as: 0N66.L

Price

€98.00

+3.00 (+3.16%)

Market Cap

€1.56B

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Strong

Cash Flow

Strong

Stability

Exceptional

Valuation

Good

Dividends

Strong

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Winston Score History

The full picture

ATOSS Software AG is a German company that makes software to help businesses manage their workers. Its main product helps companies schedule shifts, track working hours, and plan how many employees they need at any given time. It sells mostly to medium and large companies across industries like retail, healthcare, logistics, and manufacturing.

ATOSS earns money through software licenses and recurring subscription fees, which explains its very high gross margin of 89%. The company operates mainly in German-speaking Europe — Germany, Austria, and Switzerland — though it has been expanding into other European markets. Its moat comes from the fact that workforce management software is deeply embedded in a company's daily operations, making it costly and disruptive to switch providers. The key growth driver is the ongoing shift of its existing customers from older one-time licenses to cloud-based subscriptions, which would increase predictable recurring revenue over time.

Growth Profile

For growth stock investors

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

Revenue Growth

+12.1% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+12.4% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

€27M/ year

↑ Rising (+7% vs prior year)

14.5% of revenue

In line with sector average (15%)

Investing heavily in future products and technology

Insider Activity

43.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€124M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

ATOSS Software AG is a rare growth stock that's already generating positive cash flow while growing at 12%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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

+0.0% over 4y

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

Diluted shares outstanding: 15.9M (2021) → 15.9M (2025)

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

0.0%

Thin — 0.0% gross margin

Profit after running costs

Operating Margin

35.1%

Excellent — 35.1% operating margin

Return on the money invested

ROCE

73.1%

Exceptional — 73.1% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+12.0%

Fast-growing sales (+12.0% YoY)

Profit growth

EPS YoY

+11.4%

Earnings growing (+11.4% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

92%

Modest — 92% of profit becomes cash

Spare cash per sale

FCF Margin

23.1%

Converts sales into free cash efficiently (23.1%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.03

Conservative — low debt load (0.03)

Covers its interest

Interest Cover

1365.22x

Comfortably covers interest (1365.2x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

30.4x

Pricey — P/E 30.4

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+9.7

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (30.4 → 20.8)

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Dividends

Dividend

Dividend Yield

2.56%

Moderate income — 2.56% yield

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

Dividend record

Dividend Growth

+22.8%

Dividend growing fast (22.8% YoY)

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