Energiekontor AG

EKT.DE

Renewable Utilities · Utilities

Also trades as: 0E9V.L

Price

€26.00

-0.10 (-0.38%)

Market Cap

€360.5M

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

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

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Weak

Valuation

Good

Dividends

Exceptional

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Share count falling — buybacks

−2.5% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 14.4M (2021) → 14.0M (2025)

Winston Score History

The full picture

Energiekontor AG is a German renewable energy company that builds and operates wind and solar power plants. It sells electricity generated by these plants to utility companies and grid operators, mainly across Germany, the United Kingdom, Portugal, and the United States. Founded in 1990, it is one of Germany's oldest independent renewable energy developers and owns a portfolio of plants it runs for long-term income.

The company makes money in two main ways: selling electricity from the power plants it owns, and earning fees by developing and selling new wind or solar projects to outside investors. This mix of steady operating income and one-time project sale revenues gives it some financial flexibility. Energiekontor has a competitive edge from decades of permitting experience and a deep project pipeline, but its growth depends heavily on how quickly governments approve new energy projects — permitting delays remain one of the biggest risks to expanding its portfolio.

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

+31.4% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-122.1% YoY

YoY Growth Rate

Earnings declining

R&D Spend

€0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

51.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~9 months

€178M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Energiekontor AG grew revenue 31% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

19.7%

Thin — 19.7% gross margin

Profit after running costs

Operating Margin

10.1%

Modest — 10.1% operating margin

Return on the money invested

ROCE

3.9%

Weak — 3.9% 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

+54.1%

Fast-growing sales (+54.1% YoY)

Profit growth

EPS YoY

-66.5%

Earnings shrinking (-66.5% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

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

-754%

Weak — only -754% of profit becomes cash

Spare cash per sale

FCF Margin

-64.2%

Burning cash (-64.2%)

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

3.59

Heavy debt load (3.59)

Covers its interest

Interest Cover

1.18x

Dangerous — barely covers interest (1.2x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

31.3x

Pricey — P/E 31.3

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+25.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (31.3 → 6.0)

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Dividends

Dividend

Dividend Yield

4.63%

Healthy income — 4.63% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+48.0%

Dividend growing fast (48.0% YoY)

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