WinstonWınston
Back
Stock

Net-Digital AG

VRL.DE
52
Software - Application · Technology
Price
€25.40
+1.60 (+6.72%)
Market Cap
€54.5M
Exchange
Deutsche Börse
Winston Score
52
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Sep 21, 2026 · filings through Dec 31, 2025

§How the score breaks down

Quality
Good
Growth
Good
Cash Flow
Weak
Stability
Exceptional
Valuation
Mixed
Track this stock — start free trial

Share count rising — dilution

+512.7% over 4y

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

Diluted shares outstanding: 350K (2021) → 2.1M (2025)

§Winston Score History

The full picture

Net-Digital AG, listed as VRL on the German stock exchange, is a small technology company based in Germany that provides digital software solutions and IT services. It helps businesses manage their online operations, including e-commerce platforms and digital marketing tools. The company primarily serves small and mid-sized enterprises in the German-speaking market.

Net-Digital generates revenue through software licenses, service fees, and ongoing support contracts with its business clients. It operates mainly in Germany and neighboring European countries, with a market capitalization of roughly $0.1 billion, making it a micro-cap company. Despite its small size, the company has shown strong capital efficiency with a high return on invested capital, though its narrow gross margins suggest limited pricing power. The key risk for Net-Digital is its small scale in a competitive software market, where larger rivals with deeper resources could pressure growth and market share.

Growth Profile

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

Revenue Growth

+343.6% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+258.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

€0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

100.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~5 years

€3M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

€3M cash & investments at current burn rate

Strong grower

Net-Digital AG is growing revenue at 344% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

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
14.8%
Thin — 14.8% gross margin
Profit after running costs
Operating Margin
10.3%
Modest — 10.3% operating margin
Return on the money invested
ROCE
71.0%
Exceptional — 71.0% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth
Sales YoY
+244.6%
Fast-growing sales (+244.6% YoY)
Profit growth
EPS YoY
N/A
—
Data not available
How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash
Cash Conversion
-7%
Weak — only -7% of profit becomes cash
Spare cash per sale
FCF Margin
-0.8%
Burning cash (-0.8%)

Free cash flow is negative. They are burning cash, not generating it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns
Debt / Equity
0.00
Conservative — low debt load (0.00)
Covers its interest
Interest Cover
329230.92x
Comfortably covers interest (329230.9x)

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit
P/E Ratio (TTM)
19.0x
Fair value — P/E 19.0

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
-19.9
SLOWING
Earnings expected to fall — forward P/E higher than today

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.
🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.
Start free trial