Deep Value: cash covers more than 100% of the stock price

This company holds roughly $205M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Novem Group S.A.

NVM.DE

Auto - Parts · Consumer Cyclical

Price

€2.38

-0.08 (-3.25%)

Market Cap

€102.4M

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

Dividends

Good

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Winston Score History

The full picture

Novem Group is a German company that makes decorative trim parts for the inside of cars. These are the wood, metal, and carbon fiber panels you see on dashboards, door panels, and center consoles. Novem supplies these parts to premium and luxury automakers like BMW, Mercedes-Benz, Audi, and Rolls-Royce.

The company earns money by selling these interior components directly to car manufacturers under long-term supply contracts. Novem operates factories across Europe, North America, and Asia, and its small market cap of around $0.1 billion reflects its niche position in the auto parts industry. Its main competitive edge is deep expertise in high-end surface finishing, which is difficult to replicate quickly, but its fortunes are closely tied to production volumes at luxury automakers — meaning any slowdown in premium car demand or a shift away from traditional interior materials as electric vehicles redesign cabin layouts poses a real risk to revenue.

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

+2.9% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-89.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

€0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

77.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€126M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Growth context

Novem Group S.A. is growing revenue at 3% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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: 43.0M (2022) → 43.0M (2026)

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

16.2%

Thin — 16.2% gross margin

Profit after running costs

Operating Margin

5.9%

Thin — 5.9% operating margin

Return on the money invested

ROCE

7.4%

Weak — 7.4% 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

-2.9%

Shrinking sales (-2.9% YoY)

Profit growth

EPS YoY

-110.7%

Earnings shrinking (-110.7% YoY)

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

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

N/A

Data not available

Spare cash per sale

FCF Margin

8.5%

Modest free cash flow (8.5%)

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

1.57

Elevated debt (1.57)

Covers its interest

Interest Cover

1.12x

Dangerous — barely covers interest (1.1x)

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)

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

Dividend

Dividend Yield

48.32%

Healthy income — 48.32% yield

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

Dividend record

Dividend Growth

N/A

Data not available

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