Herige

ALHRG.PA

Construction Materials · Basic Materials

Price

€21.00

+0.30 (+1.45%)

Market Cap

€60.2M

Exchange

Euronext Paris

Winston Score

Winston is worried

Weak fundamentals across most pillars.

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

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

Dividends

Exceptional

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Share count rising — dilution

+5.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 2.8M (2021) → 3.0M (2025)

Winston Score History

The full picture

Herige is a French construction materials company that makes and sells products used to build homes and other buildings. Its main businesses include ready-mix concrete, prefabricated concrete products, and building materials distribution, serving construction contractors and homebuilders primarily in western France. The company is a regional player in the French construction sector, not a national or global giant.

Herige earns money by selling construction materials directly and through its distribution network, which acts like a building-supply store for professionals. It operates almost entirely in France, making it heavily tied to the health of the French residential and commercial construction market. The company's thin gross margin of around 9% and deeply negative operating margin point to a business under significant financial pressure, and the key risk it faces is a prolonged slowdown in French construction activity, which has weakened demand and squeezed profitability across the sector.

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

-5.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+75.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

€0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

62.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~3 years

€40M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

€40M cash & investments at current burn rate

Revenue declining

Herige'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.

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Quality

Profit per sale

Gross Margin

19.3%

Thin — 19.3% gross margin

Profit after running costs

Operating Margin

-1.7%

Losing money on operations — -1.7%

Return on the money invested

ROCE

-46.0%

Weak — -46.0% 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

-6.6%

Shrinking sales (-6.6% YoY)

Profit growth

EPS YoY

-169.4%

Earnings shrinking (-169.4% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

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

N/A

Data not available

Spare cash per sale

FCF Margin

-5.1%

Burning cash (-5.1%)

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

0.48

Conservative — low debt load (0.48)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

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

Dividend

Dividend Yield

9.05%

Healthy income — 9.05% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+221.4%

Dividend growing fast (221.4% YoY)

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