Brockhaus Technologies AG

BKHT.DE

Asset Management · Technology

Also trades as: 0AAW.L

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Data not available

Stability

Good

Valuation

Good

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Winston Score History

The full picture

Brockhaus Technologies AG is a German holding company that buys and owns small technology businesses. It focuses on acquiring niche software and technology firms that serve specialized industries in Europe. The company acts like a private equity fund, but it is publicly listed on the Frankfurt Stock Exchange.

Brockhaus makes money through the revenues generated by its portfolio companies, which typically sell software licenses, subscriptions, or technology services to business customers. It operates primarily in German-speaking Europe and has a market value of around €200 million. Its competitive edge comes from targeting overlooked, profitable tech niches where competition is limited — but the negative return on invested capital signals that recent acquisitions have not yet generated strong returns. The main risk is that the company depends heavily on finding and integrating new acquisitions at attractive prices, and deal flow can dry up or valuations can rise, making future growth harder to achieve.

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

-90.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+50.0% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

57.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~3 years

€10M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

€10M cash & investments at current burn rate

Revenue declining

Brockhaus Technologies AG'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.

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Quality

Profit per sale

Gross Margin

79.2%

Premium pricing power — 79.2% gross margin

Profit after running costs

Operating Margin

-50.4%

Losing money on operations — -50.4%

Return on the money invested

ROCE

-25.5%

Weak — -25.5% return on capital

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

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Growth

Sales growth

Sales YoY

-111.4%

Shrinking sales (-111.4% YoY)

Profit growth

EPS YoY

N/A

Data not available

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

N/A

Data not available

Spare cash per sale

FCF Margin

N/A

Data not available

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Stability

What it owes vs what it owns

Debt / Equity

0.09

Conservative — low debt load (0.09)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

2.2x

no trend

Attractive valuation — P/E 2.2

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

Cheaper or dearer next year

P/E vs Forward

-119.6

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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