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Hugo Boss AG

BOSS.DE
58
Apparel - Manufacturers · Consumer Cyclical
Price
€37.99
+0.37 (+0.98%)
Market Cap
€2.57B
Exchange
Frankfurt Stock Exchange
Winston Score
58
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Good
Growth
Weak
Cash Flow
Exceptional
Stability
Exceptional
Valuation
Strong
Dividends
Mixed

Winston Score History

The full picture

Hugo Boss is a German fashion company that designs and sells clothing, shoes, and accessories for adults. It operates two main brands: BOSS, which targets professionals and people who want polished, upscale clothing, and HUGO, which aims at a younger crowd looking for trendier styles. The company sells through its own stores, its website, and department stores around the world.

Hugo Boss makes money by selling its products directly to shoppers through roughly 1,500 owned stores and online, as well as through wholesale partners like department stores. It operates globally, with strong sales in Europe, growing presence in Asia, and a meaningful business in the Americas. Its brand recognition and control over its own retail stores give it some pricing power, but the company faces real risk from slowing consumer spending on discretionary goods, since shoppers tend to cut back on premium clothing when economic conditions weaken.

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: 69.0M (2021) → 69.0M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
64.9%
Premium pricing power — 64.9% gross margin
Profit after running costs
Operating Margin
6.6%
Modest — 6.6% operating margin
Return on the money invested
ROCE
19.3%
Strong — 19.3% 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
-4.6%
Shrinking sales (-4.6% YoY)
Profit growth
EPS YoY
-1.3%
Earnings shrinking (-1.3% YoY)

Slight earnings drop. Typical near a cyclical low.

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
362%
Turns 362% of profit into real cash
Spare cash per sale
FCF Margin
13.4%
Converts sales into free cash efficiently (13.4%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.11
Conservative — low debt load (0.11)
Covers its interest
Interest Cover
9.60x
Comfortably covers interest (9.6x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
12.1x
Attractive valuation — P/E 12.1

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
+1.5
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend
Dividend Yield
0.11%
Small dividend — 0.11% yield

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

Dividend record
Dividend Growth
+8.9%
Dividend growing modestly (8.9% YoY)

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