Stadler Rail AG

SRAIL.SW

Railroads · Industrials

Also trades as: 0A0C.L

Price

CHF 24.28

+0.78 (+3.32%)

Market Cap

CHF 2.43B

Exchange

SIX Swiss Exchange

Winston Score

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

Good

Cash Flow

Weak

Stability

Good

Valuation

Strong

Dividends

Mixed

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Winston Score History

The full picture

Stadler Rail is a Swiss company that builds trains and other rail vehicles. Its products include regional trains, trams, metro cars, and special mountain railway vehicles. It sells these to public transit agencies, national rail operators, and regional governments mostly across Europe, but also in North America and other markets.

The company earns money primarily by selling rail vehicles under large, long-term contracts, and also through maintenance and service agreements that provide more steady income over time. Stadler operates mainly in Europe, with growing activity in the United States, and competes against much larger rivals like Alstom, Siemens, and Bombardier Transportation. Its edge comes from specializing in niche vehicle types, like narrow-gauge mountain trains, and offering flexible, customized designs that bigger competitors often avoid. The main risk is that its thin margins leave little room for error on complex, fixed-price contracts, and cost overruns on large orders have pressured profits in recent years.

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

+16.0% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+407.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

CHF 34M/ year

↓ Declining (-6% vs prior year)

0.9% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

45.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

CHF 715M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth + cash flow

Stadler Rail AG is a rare growth stock that's already generating positive cash flow while growing at 16%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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

+0.0% over 4y

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

Diluted shares outstanding: 100.0M (2021) → 100.0M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

11.3%

Thin — 11.3% gross margin

Profit after running costs

Operating Margin

5.6%

Thin — 5.6% operating margin

Return on the money invested

ROCE

9.4%

Below par — 9.4% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+13.0%

Fast-growing sales (+13.0% YoY)

Profit growth

EPS YoY

+131.6%

Earnings growing fast (+131.6% YoY)

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

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

-397%

Weak — only -397% of profit becomes cash

Spare cash per sale

FCF Margin

-15.3%

Burning cash (-15.3%)

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

1.15

Elevated debt (1.15)

Covers its interest

Interest Cover

8.49x

Comfortably covers interest (8.5x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

27.6x

Growth-priced — P/E 27.6

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+13.8

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (27.6 → 13.8)

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Dividends

Dividend

Dividend Yield

2.00%

Moderate income — 2.00% yield

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

Dividend record

Dividend Growth

N/A

Data not available

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