DEMIRE Deutsche Mittelstand Real Estate AG

DMRE.DE

Real Estate - Services · Real Estate

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

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

How the score breaks down

Quality

Good

Growth

Good

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

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Winston Score History

The full picture

DEMIRE Deutsche Mittelstand Real Estate AG is a German real estate company that owns and manages commercial properties across Germany. Its portfolio focuses on office buildings, retail spaces, and logistics properties, primarily rented to small and medium-sized businesses — the "Mittelstand" that forms the backbone of the German economy. The company is listed on the Frankfurt Stock Exchange and operates entirely within Germany.

DEMIRE makes money by collecting rent from tenants who lease space in its properties, a straightforward landlord-style revenue model. The portfolio is concentrated in secondary German cities — locations outside major hubs like Munich or Frankfurt — where property prices are lower but demand from regional businesses remains steady. With a low ROIC of around 2.6% and a relatively small market footprint, the company faces real pressure from rising interest rates, which increase borrowing costs and compress the value of its property assets, representing the central financial risk to its business model.

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

-27.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+75.9% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

92.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

€728M cash & investments at current burn rate

Revenue declining

DEMIRE Deutsche Mittelstand Real Estate 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

60.7%

Premium pricing power — 60.7% gross margin

Profit after running costs

Operating Margin

41.7%

Excellent — 41.7% operating margin

Return on the money invested

ROCE

3.0%

Weak — 3.0% 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

+34.2%

Fast-growing sales (+34.2% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

3.8%

Thin free cash flow (3.8%)

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

4.46

Heavy debt load (4.46)

Covers its interest

Interest Cover

0.32x

Dangerous — barely covers interest (0.3x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

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

Not applicable for this business.

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