WinstonWınston
Back
Stock

Bang & Olufsen a/s

BO.CO
31
Consumer Electronics · Technology
Also trades as: 0MRM.L GBP 0.10 (-0.66%)
Price
kr 10.28
+0.04 (+0.39%)
Market Cap
kr 1.47B
Exchange
NASDAQ Copenhagen
Winston Score
31
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Oct 8, 2026 · filings through May 31, 2026

§How the score breaks down

Quality
Mixed
10/30
Growth
Weak
2/20
Cash Flow
Weak
1/10
Stability
Mixed
3/10
Valuation
Data not available
0/10
Ownership
Good
10/15
Dividends
Exceptional
5/5

31 of 100 counted points = Winston Score 31.

Track this stock — start free trial

Share count rising — dilution

+19.3% over 4y

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

Diluted shares outstanding: 119.5M (2022) → 142.6M (2026)

§Winston Score History

The full picture

Bang & Olufsen is a Danish company that makes high-end speakers, headphones, televisions, and sound systems. Its products are sold to wealthy consumers who want premium audio and visual quality, often at prices far above typical electronics brands. The company is known for its distinctive design and craftsmanship, and its products are sold in its own stores and through luxury retail partners around the world.

Bang & Olufsen makes money by selling hardware directly to consumers, with prices ranging from a few hundred to several thousand dollars per product. It operates primarily in Europe but also has a presence in Asia and North America, generating roughly $400–500 million in annual revenue. Its moat comes from strong brand recognition in the luxury segment and a loyal customer base, but the company currently runs at a small operating loss, and its main challenge is growing sales volume without diluting the premium image that justifies its high prices.

Growth Profile

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

Revenue Growth

-6.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-25.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

kr 340M/ year

→ Flat (+0% vs prior year)

13.8% of revenue

In line with sector average (15%)

Steady R&D investment year-over-year

Insider Activity

27.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 374M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue declining

Bang & Olufsen a/s's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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.

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
58.7%
Premium pricing power — 58.7% gross margin
Profit after running costs
Operating Margin
3.2%
Thin — 3.2% operating margin
Return on the money invested
ROCE
-2.0%
Weak — -2.0% return on capital

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth
Sales YoY
-0.2%
Shrinking sales (-0.2% 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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
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.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns
Debt / Equity
0.61
Moderate — manageable debt (0.61)
Covers its interest
Interest Cover
N/A
Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend
Dividend Yield
6.48%
Healthy income — 6.48% yield

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

Dividend record
Dividend Growth
+117.0%
Dividend growing fast (117.0% YoY)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free
🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.
Start free trial