Eurotech S.p.A.

ETH.MI

Computer Hardware · Technology

Exchange

Italian Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

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

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

Eurotech is an Italian technology company that builds small, rugged computers and edge AI systems — devices designed to collect and process data right where it is created, like inside a factory, a train, or a military vehicle. Its main products include embedded computers, edge servers, and IoT (Internet of Things) platforms, sold to industrial, defense, transportation, and healthcare customers. The company is based in Amaro, Italy, and is one of Europe's specialized players in high-performance, compact computing hardware.

Eurotech makes money by selling hardware systems and related software or services to businesses and government clients, mostly across Europe and North America. Its competitive edge comes from building computers that can survive harsh environments — extreme temperatures, vibrations, and tight spaces — where standard computers would fail. However, the company is currently operating at a loss, with negative operating and returns on capital, meaning it spends more than it earns. The key challenge ahead is scaling revenue fast enough to cover its cost base as demand for industrial edge computing grows.

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

+29.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+59.3% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

22.1%ownership

Insiders own a meaningful stake in the company

Cash Runway

~12 months

€11M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

Eurotech S.p.A. grew revenue 29% 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

-3.1%

Thin — -3.1% gross margin

Profit after running costs

Operating Margin

-28.6%

Losing money on operations — -28.6%

Return on the money invested

ROCE

-7.2%

Weak — -7.2% 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

+3.4%

Slow sales growth (+3.4% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-6.6%

Burning cash (-6.6%)

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

0.33

Conservative — low debt load (0.33)

Covers its interest

Interest Cover

N/A

Data not available

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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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