VIB Vermögen AG

VIH1.DE

Real Estate - Services · Real Estate

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Strong

Stability

Mixed

Valuation

Good

Dividends

Weak

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Winston Score History

The full picture

VIB Vermögen AG is a German real estate company that owns and manages commercial properties. Its portfolio focuses mainly on logistics and industrial buildings, along with some retail and office spaces. The company's tenants are businesses that need warehouses, distribution centers, and light manufacturing facilities, primarily in the Bavaria and Baden-Württemberg regions of southern Germany.

The company makes money by collecting rent from long-term lease agreements with its commercial tenants. VIB operates entirely within Germany, with a market value of roughly €300 million, and its competitive position rests on its concentration in southern Germany's logistics corridor, which benefits from strong infrastructure and economic activity. However, the company's current negative operating margin and negative return on invested capital signal that rising interest rates and higher financing costs are putting real pressure on profitability, and how management handles its debt load will be the key factor to watch going forward.

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

+67.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+315.0% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

69.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€1.7B cash & investments

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

Revenue accelerating

VIB Vermögen AG grew revenue 68% 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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

38.4%

Modest — 38.4% gross margin

Profit after running costs

Operating Margin

26.9%

Excellent — 26.9% operating margin

Return on the money invested

ROCE

2.3%

Weak — 2.3% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+40.0%

Fast-growing sales (+40.0% YoY)

Profit growth

EPS YoY

+153.1%

Earnings growing fast (+153.1% 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

80%

Modest — 80% of profit becomes cash

Spare cash per sale

FCF Margin

44.9%

Converts sales into free cash efficiently (44.9%)

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

1.02

Elevated debt (1.02)

Covers its interest

Interest Cover

2.46x

Tight — interest eats into profit (2.5x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

2.0x

no trend

Attractive valuation — P/E 2.0

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

Cheaper or dearer next year

P/E vs Forward

-1.2

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

0.58%

no trend

Small dividend — 0.58% yield

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

Dividend record

Dividend Growth

-94.6%

no trend

Dividend cut (-94.6% YoY) — warning sign

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