Ideal Holdings S.A.

INTEK.AT

Technology Distributors · Technology

Price

€6.20

+0.00 (+0.00%)

Market Cap

€332.9M

Exchange

Athens Stock Exchange

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

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

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Strong

Stability

Good

Valuation

Good

Dividends

Exceptional

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Share count rising — dilution

+78.2% over 4y

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

Diluted shares outstanding: 31.4M (2021) → 56.0M (2025)

Winston Score History

The full picture

Ideal Holdings S.A. is a Greek technology company that sells and distributes a wide range of technology products and services across southeastern Europe. Its core businesses include IT equipment distribution, software solutions, and digital services, serving corporate clients, government agencies, and retail customers. The company is one of the larger technology distributors operating in the Greek market.

Ideal Holdings earns revenue through product sales, service contracts, and software licensing, giving it a mix of one-time and recurring income streams. It operates primarily in Greece and the broader Balkan region, with a market capitalization of roughly $0.3 billion. The company's relatively modest operating margin of around 6% and low return on invested capital of 2% reflect the thin-margin nature of technology distribution, where competition is intense and pricing power is limited. The key growth opportunity lies in expanding higher-margin digital services, while the main risk is continued pressure on hardware distribution margins as the market commoditizes further.

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

+23.0% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-95.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

€0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

53.8%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

€164M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

Ideal Holdings S.A. is a rare growth stock that's already generating positive cash flow while growing at 23%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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

35.5%

Modest — 35.5% gross margin

Profit after running costs

Operating Margin

3.2%

Thin — 3.2% operating margin

Return on the money invested

ROCE

6.7%

Weak — 6.7% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+28.6%

Fast-growing sales (+28.6% YoY)

Profit growth

EPS YoY

-83.8%

Earnings shrinking (-83.8% YoY)

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

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

298%

Turns 298% of profit into real cash

Spare cash per sale

FCF Margin

7.0%

Modest free cash flow (7.0%)

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

0.58

Conservative — low debt load (0.58)

Covers its interest

Interest Cover

1.72x

Dangerous — barely covers interest (1.7x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

20.0x

Fair value — P/E 20.0

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

+2.4

GROWING

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

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Dividends

Dividend

Dividend Yield

14.51%

Healthy income — 14.51% yield

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

Dividend record

Dividend Growth

+115.5%

Dividend growing fast (115.5% YoY)

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