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Blue Cap AG

B7E.DE
44
Asset Management · Financial Services
Exchange
Frankfurt Stock Exchange
Winston Score
44
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Mixed
Stability
Strong
Valuation
Good
Dividends
Exceptional

Winston Score History

The full picture

Blue Cap AG is a German investment company that buys small and mid-sized businesses, helps fix or improve them, and then sells them for a profit. It focuses on traditional industrial and manufacturing companies — things like engineering, chemicals, and specialty products — mostly in German-speaking Europe. Think of it like a hands-on owner that steps in, runs the business better, and eventually moves on to the next one.

The company makes money in two main ways: from the operating profits of the businesses it currently owns, and from the gains it earns when it sells those businesses. Blue Cap is small, with a market value around €100 million, and it competes in a crowded space of private equity and holding companies targeting the German "Mittelstand" — the backbone of small family-owned industrial firms. Its main risk is that deal flow and exit timing are unpredictable, meaning profits can swing sharply from one year to the next depending on when it buys or sells a company.

Score breakdown

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Quality

Profit per sale
Gross Margin
15.2%
Thin — 15.2% gross margin
Profit after running costs
Operating Margin
-17.2%
Losing money on operations — -17.2%
Return on the money invested
ROCE
11.1%
Below par — 11.1% 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
-37.2%
Shrinking sales (-37.2% YoY)
Profit growth
EPS YoY
+65.8%
Earnings growing fast (+65.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
50%
Weak — only 50% of profit becomes cash
Spare cash per sale
FCF Margin
5.0%
Thin free cash flow (5.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.37
Conservative — low debt load (0.37)
Covers its interest
Interest Cover
7.58x
Adequate interest coverage (7.6x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
3.0x
no trend
Attractive valuation — P/E 3.0

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
-13.6
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
4.08%
no trend
Healthy income — 4.08% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+49.1%
no trend
Dividend growing fast (49.1% YoY)

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