Phoenix Spree Deutschland Limited

PSDL.L

Real Estate - Services · Real Estate

Exchange

London Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

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

How the score breaks down

Quality

Good

Growth

Weak

Cash Flow

Mixed

Stability

Data not available

Valuation

Data not available

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Winston Score History

The full picture

Phoenix Spree Deutschland Limited is a real estate company that owns and rents out residential apartments in Germany, mainly in Berlin. Its customers are ordinary people looking for a place to live. The company focuses on buying older apartment buildings, often converting individual units into condominiums that can be sold separately — a strategy common in the Berlin property market.

The company makes money primarily through rental income collected from tenants, and also from selling individual apartments after converting them into condominiums. It operates entirely in Germany and is listed on the London Stock Exchange, making it a small, geographically focused landlord with a market value of around $200 million. Berlin's strict rent control laws, known as "Mietpreisbremse," are a significant ongoing risk, as they limit how much the company can charge tenants and can reduce the value of its rental portfolio over time.

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

-141.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+102.0% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

9.1%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Position

Cash flow positive

£39M cash & investments

Quarterly Free Cash Flow

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

Revenue declining

Phoenix Spree Deutschland Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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.

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Quality

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

230.7%

Excellent — 230.7% operating margin

Return on the money invested

ROCE

-5.0%

Weak — -5.0% 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

-81.6%

Shrinking sales (-81.6% YoY)

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

62.8%

Converts sales into free cash efficiently (62.8%)

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

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

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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