Stock

Gurit Holding AG

GURN.SW
48
Chemicals - Specialty · Basic Materials
Also trades as: 0QQR.L GBP 0.49 (+1.96%)
Price
CHF 49.60
+1.50 (+3.12%)
Market Cap
CHF 231.7M
Exchange
SIX Swiss Exchange
Winston Score
48
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 9, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Good
15/30
Growth
Weak
2/20
Cash Flow
Strong
8/10
Stability
Mixed
4/10
Valuation
Strong
8/10
Ownership
Good
10/15
Dividends
Weak
1/5

48 of 100 counted points = Winston Score 48.

§Winston Score History

The full picture

Gurit Holding AG is a Swiss company that makes advanced composite materials — lightweight, high-strength materials used to build wind turbine blades, boats, and aerospace parts. Its main customers are wind energy manufacturers, marine builders, and industrial companies. Gurit is one of the leading suppliers of structural core materials and composite kits specifically designed for the wind energy industry.

Gurit earns money by selling materials, engineered kits, and tooling products to manufacturers, primarily on a per-order basis rather than through subscriptions. The company operates globally, with production facilities in Europe, Asia, and the Americas, and generates most of its revenue from the wind energy sector. Its negative operating margin and deeply negative return on invested capital reflect a difficult period of overcapacity and pricing pressure in the wind blade supply chain, particularly in China. The key risk is that a prolonged slowdown in wind turbine manufacturing orders could continue to weigh heavily on profitability before any meaningful recovery takes hold.

Share count broadly stable

+0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 4.7M (2021) → 4.7M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
24.1%
Thin — 24.1% gross margin
Profit after running costs
Operating Margin
11.0%
Modest — 11.0% operating margin
Return on the money invested
ROCE
24.5%
Exceptional — 24.5% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
-19.4%
Shrinking sales (-19.4% 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
198%
Turns 198% of profit into real cash
Spare cash per sale
FCF Margin
8.0%
Modest free cash flow (8.0%)

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
1.14
Elevated debt (1.14)
Covers its interest
Interest Cover
3.79x
Tight — interest eats into profit (3.8x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
13.7x
Attractive valuation — P/E 13.7

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
+3.0
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (13.7 → 10.7)

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Dividends

Dividend
Dividend Yield
0.62%
Small dividend — 0.62% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
-1.8%
Dividend cut (-1.8% YoY) — warning sign

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