WinstonWınston
Back
Stock

Drägerwerk AG & Co. KGaA

DRW3.DE
55
Medical - Devices · Healthcare
Also trades as: 0MT8.L GBP 0.91 (+0.88%)
Price
€115.80
-0.80 (-0.69%)
Market Cap
€2.17B
Exchange
Frankfurt Stock Exchange
Winston Score
55
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Oct 12, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
13/30
Growth
Good
12/20
Cash Flow
Strong
7/10
Stability
Exceptional
9/10
Valuation
Strong
7/10
Ownership
Mixed
4/15
Dividends
Good
3/5

55 of 100 counted points = Winston Score 55.

Track this stock — start free trial

§Winston Score History

The full picture

Drägerwerk is a German company that makes safety and medical equipment. Its core products include breathing devices, gas detection systems, anesthesia machines, and patient monitoring equipment. It sells to hospitals, fire departments, industrial facilities, and emergency services around the world — and has been doing so for over 130 years.

The company earns money by selling hardware, software, and related services, including maintenance contracts that provide recurring revenue. Dräger operates globally, with a strong presence in Europe, the Americas, and Asia, and generates roughly €3 billion in annual revenue. Its long history and specialized certifications create switching costs, since hospitals and industrial customers rarely change safety-critical suppliers. The main risk is that Dräger operates in a highly competitive market with thin operating margins, and its complex corporate structure — a partnership limited by shares — gives the founding family significant control, which can limit shareholder influence over strategic decisions.

Growth Profile

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

Revenue Growth

+8.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+161.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

€319M/ year

→ Flat (-4% vs prior year)

9.2% of revenue

Below sector average (18%)

Steady R&D investment year-over-year

Insider Activity

2.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~23 months

€199M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Growth context

Drägerwerk AG & Co. KGaA is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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.

Share count broadly stable

−0.1% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 18.8M (2021) → 18.7M (2025)

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
46.6%
Healthy — 46.6% gross margin
Profit after running costs
Operating Margin
5.4%
Thin — 5.4% operating margin
Return on the money invested
ROCE
14.5%
Good — 14.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth
Sales YoY
+6.4%
Slow sales growth (+6.4% YoY)
Profit growth
EPS YoY
+72.1%
Earnings growing fast (+72.1% YoY)

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

How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash
Cash Conversion
164%
Turns 164% of profit into real cash
Spare cash per sale
FCF Margin
5.3%
Thin free cash flow (5.3%)

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns
Debt / Equity
0.14
Conservative — low debt load (0.14)
Covers its interest
Interest Cover
9.78x
Comfortably covers interest (9.8x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit
P/E Ratio (TTM)
12.7x
Attractive valuation — P/E 12.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+1.8
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend
Dividend Yield
1.95%
Small dividend — 1.95% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+727.6%
Dividend growing fast (727.6% YoY)
Payout Ratio
25%
no trend
Pays out a modest share of profit and keeps the rest to reinvest. Room to keep paying through a weak year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free
🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.
Start free trial