Grenke AG

GLJ.DE

Financial - Credit Services · Financial Services

Exchange

Frankfurt 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

Mixed

Growth

Good

Cash Flow

Weak

Stability

Good

Valuation

Good

Dividends

Mixed

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Winston Score History

The full picture

Grenke AG is a German financial services company that helps small and medium-sized businesses lease office equipment like computers, printers, and software. Instead of buying expensive equipment outright, a small business can pay Grenke a monthly fee to use it. Grenke acts as the middleman between equipment vendors and their business customers across Europe and beyond.

Grenke makes money by charging businesses regular lease payments over fixed contract terms, earning a spread between its funding costs and the rates it charges customers. The company operates in over 30 countries, with a strong presence in Germany and Western Europe, and its focus on small-ticket leasing to small businesses gives it a niche that larger banks tend to ignore. However, Grenke's low return on invested capital and its reliance on wholesale funding to finance its lease book mean rising interest rates and credit losses among small business customers remain key risks to watch.

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

+10.4% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+2.9% YoY

YoY Growth Rate

Slow EPS growth

Insider Activity

46.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~9 months

€554M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Grenke AG has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

65.0%

Premium pricing power — 65.0% gross margin

Profit after running costs

Operating Margin

5.5%

Thin — 5.5% operating margin

Return on the money invested

ROCE

0.9%

Weak — 0.9% 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

+9.3%

Steady sales growth (+9.3% YoY)

Profit growth

EPS YoY

+30.4%

Earnings growing fast (+30.4% YoY)

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

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

-153%

Weak — only -153% of profit becomes cash

Spare cash per sale

FCF Margin

-13.2%

Burning cash (-13.2%)

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

6.56

Heavy debt load (6.56)

Covers its interest

Interest Cover

65.30x

Comfortably covers interest (65.3x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

6.8x

no trend

Attractive valuation — P/E 6.8

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-0.1

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

3.78%

no trend

Moderate income — 3.78% yield

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

Dividend record

Dividend Growth

-26.6%

no trend

Dividend cut (-26.6% YoY) — warning sign

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