Sino AG

XTP.DE

Financial - Capital Markets · Financial Services

Price

€105.50

-0.50 (-0.47%)

Market Cap

€246.6M

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Exceptional

Growth

Good

Cash Flow

Weak

Stability

Good

Valuation

Strong

Dividends

Good

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Winston Score History

The full picture

Sino AG is a German brokerage firm that helps individual investors and professional traders buy and sell stocks, bonds, and other financial products. The company focuses on active, high-frequency traders who place a large number of trades, offering them a specialized trading platform and direct market access. It is a smaller, niche player in the German retail brokerage industry.

Sino makes money by charging commissions and fees each time a customer places a trade, which explains its very high gross margin since the core business has low direct costs. The company operates primarily in Germany and the German-speaking market, with a market value of around $0.2 billion, making it a small-cap firm. Its competitive edge comes from serving a specific customer segment — active traders who need fast execution and professional tools — but its main risk is that falling trading volumes or increased competition from low-cost online brokers could pressure both customer numbers and 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

+656.6% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

€0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

18.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€23M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

Sino AG grew revenue 657% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

−0.2% over 4y

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

Diluted shares outstanding: 2.3M (2021) → 2.3M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

99.1%

Premium pricing power — 99.1% gross margin

Profit after running costs

Operating Margin

84.4%

Excellent — 84.4% operating margin

Return on the money invested

ROCE

71.5%

Exceptional — 71.5% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+283.3%

Fast-growing sales (+283.3% YoY)

Profit growth

EPS YoY

>+1,000%

Earnings growing fast (>+1,000% 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

12%

Weak — only 12% of profit becomes cash

Spare cash per sale

FCF Margin

8.7%

Modest free cash flow (8.7%)

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

N/A

Data not available

Covers its interest

Interest Cover

1011.03x

Comfortably covers interest (1011.0x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

9.0x

Attractive valuation — P/E 9.0

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

Cheaper or dearer next year

P/E vs Forward

+2.7

GROWING

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

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Dividends

Dividend

Dividend Yield

1.37%

Small dividend — 1.37% yield

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

Dividend record

Dividend Growth

+8579.1%

Dividend growing fast (8579.1% YoY)

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