Fenix Outdoor International AG

FOI-B.ST

Specialty Retail · Consumer Cyclical

Also trades as: 0QVE.L

Exchange

Stockholm 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

Weak

Growth

Mixed

Cash Flow

Strong

Stability

Good

Valuation

Good

Dividends

Strong

Track this stock — start free trial

Winston Score History

The full picture

Fenix Outdoor International is a Swedish company that makes and sells outdoor gear and clothing. Its most well-known brand is Fjällräven, famous for backpacks and jackets built for hiking and cold weather. The company also owns other outdoor brands including Hanwag, Brunton, Primus, and Tierra, selling to outdoor enthusiasts across Europe, North America, and Asia.

Fenix makes money by selling gear through its own retail stores, its websites, and through third-party outdoor retailers. It operates primarily in Europe but has been expanding in North America and Asia. The Fjällräven brand carries strong customer loyalty and a reputation for durable, sustainably made products, which helps protect it from cheaper competitors. However, the company's low operating margin of around 3% and very low return on invested capital suggest it is struggling to convert its brand strength into consistent profits, and slowing consumer spending on discretionary goods remains a meaningful near-term risk.

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

-5.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-26.4% YoY

YoY Growth Rate

Earnings declining

Insider Activity

72.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€44M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Fenix Outdoor International 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.

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

-10.5%

Thin — -10.5% gross margin

Profit after running costs

Operating Margin

-10.5%

Losing money on operations — -10.5%

Return on the money invested

ROCE

2.9%

Weak — 2.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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

+3.4%

Slow sales growth (+3.4% YoY)

Profit growth

EPS YoY

+16.9%

Earnings growing fast (+16.9% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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

877%

Turns 877% of profit into real cash

Spare cash per sale

FCF Margin

6.0%

Modest free cash flow (6.0%)

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

0.40

Conservative — low debt load (0.40)

Covers its interest

Interest Cover

1.16x

Dangerous — barely covers interest (1.2x)

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

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)

59.1x

no trend

Expensive — P/E 59.1

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+52.5

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (59.1 → 6.6)

Full breakdown available with your free trial

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

Try free

Dividends

Dividend

Dividend Yield

2.21%

no trend

Moderate income — 2.21% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+64.1%

no trend

Dividend growing fast (64.1% YoY)

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