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BayWa AG

BYW.DE
16
Industrial - Distribution · Industrials
Also trades as: 0AH7.L GBP 0.03 (+3.81%)
Price
€8.16
+0.08 (+0.99%)
Market Cap
€160.0M
Exchange
Frankfurt Stock Exchange
Winston Score
16
Winston is worried
Weak fundamentals across most pillars.
Data as of Oct 9, 2026 · filings through Jun 30, 2025

§How the score breaks down

Quality
Weak
4/30
Growth
Weak
1/20
Cash Flow
Weak
0/10
Stability
Weak
0/10
Valuation
Data not available
0/10
Ownership
Good
8/15
Dividends
Good
3/5

16 of 100 counted points = Winston Score 16.

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Share count rising — dilution

+2.4% over 4y

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

Diluted shares outstanding: 35.3M (2020) → 36.1M (2024)

§Winston Score History

The full picture

BayWa AG is a German company that distributes agricultural products, building materials, and energy goods. Its core businesses include selling seeds, fertilizers, and crop protection products to farmers, supplying construction materials to builders, and trading renewable energy equipment like solar panels. It is one of the largest agricultural trading and services companies in the German-speaking world.

BayWa makes money by buying goods in bulk and reselling them at a markup, earning thin margins across high volumes — a classic distribution model. It operates mainly in Germany, Austria, and other European markets, with some global reach through its agricultural trading arm. The company's scale and long-standing relationships with farmers and suppliers provide some competitive stability, but its current negative operating and return margins signal serious financial stress. The biggest near-term risk is managing its heavy debt load while commodity price swings and weak demand continue to pressure profitability.

Growth Profile

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

Revenue Growth

-37.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-144.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

€0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

5.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~10 months

€549M cash & investments

Quarterly Free Cash Flow

Short runway — potential dilution ahead through share issuance

Cash watch

BayWa 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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
15.0%
Thin — 15.0% gross margin
Profit after running costs
Operating Margin
3.7%
Thin — 3.7% operating margin
Return on the money invested
ROCE
2.7%
Weak — 2.7% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
-21.8%
Shrinking sales (-21.8% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
0/8 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
-0.3%
Burning cash (-0.3%)

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
16.14
Heavy debt load (16.14)
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
11.80%
Healthy income — 11.80% yield

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

Dividend record
Dividend Growth
-11.4%
Dividend cut (-11.4% YoY) — warning sign

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