WinstonWınston
Stock

Kap AG

IUR.DE
23
Manufacturing - Textiles · Industrials
Price
€1.19
-0.01 (-0.83%)
Market Cap
€9.2M
Exchange
Deutsche Börse
Winston Score
23
Winston is worried
Weak fundamentals across most pillars.
Data as of Sep 20, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
Growth
Weak
Cash Flow
Weak
Stability
Weak
Valuation
Data not available

§Winston Score History

The full picture

KAP AG, together with its subsidiaries, provides flexible films in Germany, Rest of Europe, North/South America, Asia and Pacific, and internationally. It operates through Flexible Films, Engineered Products, Surface Technologies, and Precision Components segments. The Flexible Films segment develops, produces, and sells flexible films and composite materials for various applications, such as solutions for technical waterproofing, high-tech screens, event floors, outdoor laminates, high-quality, design-oriented membranes for pool, and swimming pool construction. The Engineered Products segment develops, produces, and sells technical textiles that are used in automotive and agricultural sector, air springs in the field of road and rail transport, and reinforcement for flexible feed pipes for the oil and gas industry, as well as for reinforcing supports in rubber products, which include conveyor, and carrier materials for coated end products. The Surface Technologies segment provides surface coating solutions. The Precision Components segment develops, produces, and sells complex plastic and plastic-metal composites. It also offers development and manufacture of membranes, tarpaulins, reinforced swimming pool liners, and high-end projection screens. The company was formerly known as KAP Beteiligungs-AG and changed its name to KAP AG in July 2018. KAP AG was incorporated in 2010 and is headquartered in Fulda, Germany.

Growth Profile

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

Revenue Growth

-4.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+47.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

€681,000/ year

0.3% of revenue

Below sector average (4%)

Research and development spending

Cash Runway

~9 months

€22M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Kap AG has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

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: 7.8M (2021) → 7.8M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
52.0%
Healthy — 52.0% gross margin
Profit after running costs
Operating Margin
0.6%
Thin — 0.6% operating margin
Return on the money invested
ROCE
-37.8%
Weak — -37.8% 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
N/A
Data not available
Profit growth
EPS YoY
N/A
Data not available
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
-12.8%
Burning cash (-12.8%)

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
2.27
Heavy debt load (2.27)
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

Not applicable for this business.
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