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Stock

Rockwool A/S

ROCK-B.CO
37
Construction Materials · Basic Materials
Price
kr 184.10
-0.70 (-0.38%)
Market Cap
kr 38.06B
Exchange
NASDAQ Copenhagen
Winston Score
37
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Sep 18, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Good
Growth
Weak
Cash Flow
Weak
Stability
Good
Valuation
Data not available
Dividends
Strong

Share count falling — buybacks

4.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 216.2M (2021) → 205.7M (2025)

§Winston Score History

The full picture

Rockwool is a Danish company that makes stone wool insulation — a material produced by melting volcanic rock and spinning it into fibers. This insulation is used in buildings, industrial facilities, and infrastructure to keep heat in or out, reduce noise, and resist fire. Rockwool is the world's largest producer of stone wool insulation, serving construction companies, contractors, and building owners across more than 40 countries.

The company earns revenue by manufacturing and selling insulation products, acoustic ceiling tiles, and related building materials. It operates factories mainly in Europe and North America, with growing capacity in Asia. Rockwool benefits from strong brand recognition, specialized manufacturing know-how, and increasing global demand for energy-efficient buildings driven by tighter regulations. Key growth drivers include building renovation requirements in Europe and new construction standards, though the business is cyclical and sensitive to slowdowns in construction activity and raw material costs.

Growth Profile

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

Revenue Growth

+1.2% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-26.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

€73M/ year

Rising (+9% vs prior year)

1.9% of revenue

Below sector average (3%)

R&D investment increasing — building for the future

Insider Activity

21.9%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

€144M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth context

Rockwool A/S is growing revenue at 1% 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
25.9%
Modest — 25.9% gross margin
Profit after running costs
Operating Margin
12.0%
Healthy — 12.0% operating margin
Return on the money invested
ROCE
17.2%
Strong — 17.2% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
-1.0%
Shrinking sales (-1.0% YoY)
Profit growth
EPS YoY
-138.8%
Earnings shrinking (-138.8% YoY)

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

How steady the profit is
EPS Consistency
0/8 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
-3.1%
Burning cash (-3.1%)

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

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
37.31x
Comfortably covers interest (37.3x)

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

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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
2.24%
Moderate income — 2.24% yield

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

Dividend record
Dividend Growth
+12.6%
Dividend growing fast (12.6% YoY)

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