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PORR AG

ABS2.DE
44
Engineering & Construction · Industrials
Price
€38.45
+0.55 (+1.45%)
Market Cap
€1.51B
Exchange
Frankfurt Stock Exchange
Winston Score
44
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Strong
Stability
Mixed
Valuation
Strong
Dividends
Good

Share count rising — dilution

+27.0% over 4y

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

Diluted shares outstanding: 30.4M (2021) → 38.7M (2025)

Winston Score History

The full picture

PORR AG is an Austrian construction company that builds large infrastructure projects like roads, tunnels, bridges, railways, and buildings. Its customers include governments, municipalities, and private developers across Europe. Founded in 1869, it is one of the oldest and largest construction groups headquartered in Austria.

PORR earns money by winning contracts to design and build projects, then collecting payments as the work is completed. It operates mainly in Austria, Germany, Poland, Czech Republic, and other Central and Eastern European markets, generating roughly €6–7 billion in annual revenue. The company's long history and regional expertise give it an edge in winning public infrastructure contracts, but its very thin operating margin of under 2% means cost overruns on large projects can quickly erase profits — and that remains the central risk for the business going forward.

Growth Profile

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

Revenue Growth

+6.2% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+36.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

€0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

65.7%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€1.1B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth context

PORR AG is growing revenue at 6% 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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
34.4%
Modest — 34.4% gross margin
Profit after running costs
Operating Margin
-4.5%
Losing money on operations — -4.5%
Return on the money invested
ROCE
-1.9%
Weak — -1.9% 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
+1.7%
Nearly flat sales (+1.7% YoY)
Profit growth
EPS YoY
+29.0%
Earnings growing fast (+29.0% YoY)

Earnings growing 25%+ a year. The compounder zone.

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
291%
Turns 291% of profit into real cash
Spare cash per sale
FCF Margin
3.2%
Thin free cash flow (3.2%)

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
0.37
Conservative — low debt load (0.37)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
12.9x
Attractive valuation — P/E 12.9

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
+1.8
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend
Dividend Yield
2.70%
Moderate income — 2.70% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+6.5%
Dividend growing modestly (6.5% YoY)

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