Stock

q.beyond AG

0CHZ.L
39
Information Technology Services · Technology
Price
3.42 GBp
+0.02 (+0.59%)
Market Cap
£85.2M
Exchange
London Stock Exchange
Winston Score
39
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Oct 8, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Weak
1/30
Growth
Mixed
7/20
Cash Flow
Strong
7/10
Stability
Good
5/10
Valuation
Strong
8/10
Ownership
Good
10/15
Dividends
Weak
1/5

39 of 100 counted points = Winston Score 39.

§Winston Score History

The full picture

q.beyond AG is a German IT services company that helps medium-sized businesses run their technology. It offers cloud computing, managed IT services, and digital infrastructure — basically setting up and maintaining the tech systems that companies need to operate. Its main customers are mid-market businesses in Germany across industries like retail, logistics, and manufacturing.

The company earns money by charging clients ongoing fees to manage their IT systems, which creates recurring revenue. It operates almost entirely in Germany, making it a small, regionally focused player in a crowded European IT services market. With a gross margin of only 12% and a negative operating margin, q.beyond is currently spending more than it earns from operations, which is a real concern. The key challenge ahead is scaling its cloud and managed services business fast enough to reach profitability before its cash position becomes a problem.

Share count broadly stable

−0.2% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 25.0M (2021) → 24.9M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
14.0%
Thin — 14.0% gross margin
Profit after running costs
Operating Margin
-2.4%
Losing money on operations — -2.4%
Return on the money invested
ROCE
-3.3%
Weak — -3.3% 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
-6.0%
Shrinking sales (-6.0% YoY)
Profit growth
EPS YoY
N/A
—
Data not available
How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
83074%
Turns 83074% of profit into real cash
Spare cash per sale
FCF Margin
4.0%
Thin free cash flow (4.0%)

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
0.05
Conservative — low debt load (0.05)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
1.4x
Attractive valuation — P/E 1.4

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
+1.4
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend
Dividend Yield
0.17%
Small dividend — 0.17% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
-53.8%
Dividend cut (-53.8% YoY) — warning sign

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