Exasol AG

EXL.DE

Software - Application · Technology

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Good

Growth

Exceptional

Cash Flow

Strong

Stability

Good

Valuation

Mixed

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Winston Score History

The full picture

Exasol AG is a German software company that makes a high-speed database system designed to help businesses analyze large amounts of data very quickly. Its main product is the Exasol analytical database, which is sold to companies in finance, retail, and technology that need to run complex data queries faster than traditional databases allow. The company is headquartered in Nuremberg, Germany, and competes in the crowded data analytics and cloud database market.

Exasol earns money primarily through software licenses and subscription contracts, with customers paying recurring fees to use its database either on their own servers or in the cloud. It operates mainly in Europe, with some presence in North America, and remains a small-cap company with a market value around $100 million. Its main competitive edge is raw query speed, but the key risk is intense competition from much larger players like Snowflake, Google, and Amazon, which have significantly more resources to develop and market similar cloud database products.

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

+0.8% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+229.2% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

31.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~16 months

€19M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Growth context

Exasol AG is growing revenue at 1% 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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

25.7%

Modest — 25.7% gross margin

Profit after running costs

Operating Margin

1.8%

Thin — 1.8% operating margin

Return on the money invested

ROCE

87.8%

Exceptional — 87.8% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+5.5%

Slow sales growth (+5.5% YoY)

Profit growth

EPS YoY

>+1,000%

Earnings growing fast (>+1,000% YoY)

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

How steady the profit is

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

139%

Turns 139% of profit into real cash

Spare cash per sale

FCF Margin

8.7%

Modest free cash flow (8.7%)

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

N/A

Data not available

Covers its interest

Interest Cover

100.00x

Comfortably covers interest (100.0x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

18.4x

no trend

Fair value — P/E 18.4

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

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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