TeamViewer AG

TMV.DE

Software - Application · Technology

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Exceptional

Growth

Good

Cash Flow

Exceptional

Stability

Mixed

Valuation

Exceptional

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Winston Score History

The full picture

TeamViewer is a German software company that lets people remotely control computers and devices over the internet. Its main product is remote access and support software, used by IT teams, businesses, and individuals to fix technical problems, manage devices, or collaborate without being in the same room. It also sells tools for augmented reality-assisted remote support and industrial use cases.

The company earns money through subscriptions, selling licenses to businesses of all sizes across more than 180 countries. With over 600,000 paying business customers and an 86% gross margin, its software-based model generates strong recurring revenue. TeamViewer's large installed base and deep integration into corporate IT workflows give it some switching-cost advantages, but it faces intense competition from Microsoft, AnyDesk, and other remote access providers. The key growth challenge is moving upmarket toward larger enterprise contracts while defending its core small-and-medium business customer base from lower-cost rivals.

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

-1.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+35.7% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

18.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€60M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue declining

TeamViewer AG's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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

86.4%

Premium pricing power — 86.4% gross margin

Profit after running costs

Operating Margin

31.7%

Excellent — 31.7% operating margin

Return on the money invested

ROCE

23.4%

Exceptional — 23.4% 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

+5.4%

Slow sales growth (+5.4% YoY)

Profit growth

EPS YoY

+3.8%

Modest earnings growth (+3.8% YoY)

Single-digit earnings growth — steady but not exciting.

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

141%

Turns 141% of profit into real cash

Spare cash per sale

FCF Margin

23.9%

Converts sales into free cash efficiently (23.9%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

3.43

Heavy debt load (3.43)

Covers its interest

Interest Cover

6.48x

Adequate interest coverage (6.5x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

8.0x

no trend

Attractive valuation — P/E 8.0

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

Cheaper or dearer next year

P/E vs Forward

+3.1

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (8.0 → 4.9)

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Dividends

Not applicable for this business.

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