Basic-Fit N.V.

BFIT.AS

Leisure · Consumer Cyclical

Exchange

Euronext Amsterdam

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

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

How the score breaks down

Quality

Good

Growth

Good

Cash Flow

Exceptional

Stability

Weak

Valuation

Good

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Winston Score History

The full picture

Basic-Fit is a low-cost gym chain based in the Netherlands. It operates no-frills fitness clubs where members pay a flat monthly fee to use gym equipment, cardio machines, and group fitness classes. The company targets everyday consumers who want affordable access to exercise facilities, and it is one of the largest budget gym operators in Europe.

Basic-Fit makes money almost entirely through monthly membership subscriptions, which provide a relatively predictable stream of recurring revenue. It operates across the Netherlands, Belgium, Luxembourg, France, Spain, and Germany, with over 1,300 clubs as of recent years. Its competitive edge comes from its low-price model and high club density, which makes it hard for smaller rivals to compete on cost. The main risk the business faces is that rapid club expansion has kept debt levels high, and a slowdown in membership growth or a rise in interest rates could pressure profitability given its currently thin returns on invested capital.

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

+136.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+699.0% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

24.7%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Position

Cash flow positive

€159M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

Basic-Fit N.V. grew revenue 136% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

40.9%

Healthy — 40.9% gross margin

Profit after running costs

Operating Margin

12.1%

Healthy — 12.1% operating margin

Return on the money invested

ROCE

9.5%

Below par — 9.5% 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

+59.3%

Fast-growing sales (+59.3% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

1411%

Turns 1411% of profit into real cash

Spare cash per sale

FCF Margin

28.0%

Converts sales into free cash efficiently (28.0%)

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

4.01

Heavy debt load (4.01)

Covers its interest

Interest Cover

1.42x

Dangerous — barely covers interest (1.4x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

48.1x

no trend

Expensive — P/E 48.1

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+37.4

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (48.1 → 10.7)

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Dividends

Not applicable for this business.

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