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IVU Traffic Technologies AG

IVU.DE
64
Software - Application · Technology
Also trades as: 0NCA.L GBP 0.27 (+0.00%)
Price
€27.00
+0.50 (+1.89%)
Market Cap
€468.7M
Exchange
Frankfurt Stock Exchange
Winston Score
64
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Oct 10, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
13/30
Growth
Strong
14/20
Cash Flow
Exceptional
10/10
Stability
Exceptional
10/10
Valuation
Good
6/10
Ownership
Good
8/15
Dividends
Good
3/5

64 of 100 counted points = Winston Score 64.

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Share count falling — buybacks

−2.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 17.7M (2021) → 17.4M (2025)

§Winston Score History

The full picture

IVU Traffic Technologies AG is a German software company that builds planning and operations software for public transport. Its tools help bus and train operators figure out schedules, assign drivers, and track vehicles in real time. The company sells mainly to large public transit authorities and transport operators across Europe.

IVU makes money by selling software licenses and long-term service contracts, which create recurring revenue once a customer is signed up. It operates primarily in Germany and other European markets, with some projects in Latin America and the Middle East. Switching costs are high because transit operators deeply integrate IVU's software into their daily operations, making it hard to change providers. The main growth driver is the ongoing push by European governments to expand and modernize public transport networks, though the company's small size means it competes against larger enterprise software vendors and faces risk if public transit budgets are cut.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+11.1% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+134.8% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

€9M/ year

↑ Rising (+14% vs prior year)

5.8% of revenue

Below sector average (15%)

R&D investment increasing — building for the future

Insider Activity

7.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€51M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

IVU Traffic Technologies AG is a rare growth stock that's already generating positive cash flow while growing at 11%. 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
17.3%
Thin — 17.3% gross margin
Profit after running costs
Operating Margin
4.8%
Thin — 4.8% operating margin
Return on the money invested
ROCE
23.5%
Exceptional — 23.5% 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
+10.4%
Steady sales growth (+10.4% YoY)
Profit growth
EPS YoY
+22.2%
Earnings growing fast (+22.2% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
301%
Turns 301% of profit into real cash
Spare cash per sale
FCF Margin
27.8%
Converts sales into free cash efficiently (27.8%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.02
Conservative — low debt load (0.02)
Covers its interest
Interest Cover
25.61x
Comfortably covers interest (25.6x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
31.0x
Pricey — P/E 31.0

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+9.2
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (31.0 → 21.8)

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Dividends

Dividend
Dividend Yield
1.04%
Small dividend — 1.04% yield

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

Dividend record
Dividend Growth
+90.0%
Dividend growing fast (90.0% YoY)

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