TKH Group N.V.

TWEKA.AS

Communication Equipment · Technology

Exchange

Euronext Amsterdam

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

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

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Strong

Stability

Good

Valuation

Strong

Dividends

Strong

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Winston Score History

The full picture

TKH Group is a Dutch industrial technology company that builds systems for three main areas: smart manufacturing, smart connectivity, and smart vision. Its products include factory automation systems, fiber-optic and copper cable networks, and machine-vision cameras used to inspect products on assembly lines. Key customers include carmakers, tire manufacturers, and telecom operators across Europe and Asia.

The company earns revenue by selling specialized equipment, integrated systems, and long-term service contracts to industrial clients. TKH is headquartered in the Netherlands and generates most of its sales in Europe, with a growing presence in North America and Asia. Its competitive edge comes from combining hardware, software, and installation expertise into complete turnkey solutions, which makes it harder for customers to switch suppliers. The main risk is that TKH's industrial customers tend to cut capital spending sharply during economic downturns, which can quickly pressure revenue and margins.

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

+11.4% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+250.0% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

18.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€143M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Growth + cash flow

TKH Group N.V. is a rare growth stock that's already generating positive cash flow while growing at 11%. 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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

17.2%

Thin — 17.2% gross margin

Profit after running costs

Operating Margin

8.4%

Modest — 8.4% operating margin

Return on the money invested

ROCE

8.8%

Below par — 8.8% 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

+9.1%

Steady sales growth (+9.1% YoY)

Profit growth

EPS YoY

+102.5%

Earnings growing fast (+102.5% YoY)

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

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

177%

Turns 177% of profit into real cash

Spare cash per sale

FCF Margin

9.0%

Modest free cash flow (9.0%)

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

0.79

Moderate — manageable debt (0.79)

Covers its interest

Interest Cover

4.86x

Adequate interest coverage (4.9x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

15.4x

no trend

Fair value — P/E 15.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+4.7

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (15.4 → 10.7)

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Dividends

Dividend

Dividend Yield

3.17%

no trend

Moderate income — 3.17% yield

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

Dividend record

Dividend Growth

+14.8%

no trend

Dividend growing fast (14.8% YoY)

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