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German industrial holding company that owns and manages a portfolio of mid-sized manufacturing and engineering businesses.
German industrial holding company that owns and manages a portfolio of mid-sized manufacturing and engineering businesses.
Earns through its subsidiaries' own sales, as each firm is consolidated and keeps its own management, while the holding company decides which firms to buy and sell. It buys family-owned mid-sized businesses and aims to hold them for the long term rather than flip them.
In one line: A German industrial roll-up like a smaller Indutrade/Addtech.
Moat: none (scale). A diversified holding company of niche Mittelstand manufacturers; no single competitive moat, value depends on portfolio management.
Headquarters: Bergisch Gladbach, Germany · Founded: 1989 · Employees: 9,057
Size INDUS (INH.DE) is a Germany Industrials company (Miscellaneous Manufacturing) with a market value of $1.03B, the 143rd largest of 205 Germany companies the cockpit tracks. Shares closed at €35.45 on 6 Nov 2026.
Performance Over six months the shares gained 11.5%, against -21.0% for the median peer and +2.6% for the Germany market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 8.4% over the last twelve months (peer median +5.7%); the operating margin is 12.9% (peer median 7.9%).
Valuation It trades at 7.0× forward earnings against a peer median of 17.2× (2nd cheapest of 15).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.8 points above its cost of capital (7.0% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.86B | €1.74B | €1.72B | €1.80B | €1.80B |
| Revenue growth | — | +1% | -4% | 0% | — |
| Gross profit | €409M | €339M | €332M | €379M | €385M |
| EBITDA | €338M | €230M | €230M | €269M | €270M |
| Net income | €103M | €69.0M | €53.7M | €55.4M | -€42.2M |
| Free cash flow | €72.4M | €102M | €103M | €167M | €69.8M |
| Capital expenditure | €43.9M | €60.6M | €50.9M | €61.9M | €54.5M |
| Total debt | €790M | €762M | €687M | €772M | €721M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| INDUS INH.DE | $1.03B | +11% | +8% | 13% | 7.0× | -6.8% |
| Indutrade INDT.ST | $9.94B | +39% | +6% | 12% | 28.6× | 18.4% |
| Addtech ADDT-B.ST | $8.66B | -2% | +4% | 13% | 30.7× | 19.3% |
| Halma HLMA.L | $17.0B | -25% | +15% | 20% | 25.0× | 21.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | INH.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.4% | -8.8% | 6th highest of 21 |
| 6-month return | +11.5% | -21.0% | 3rd highest of 21 |
| Distance from 52-week high | -17.0% | -36.4% | 2nd highest of 21 |
| Revenue growth (TTM) | +8.4% | +5.7% | 8th highest of 21 |
| Operating margin | 12.9% | 7.9% | 7th highest of 21 |
| Forward P/E | 7.0× | 17.2× | 2nd cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | -6.8% | 6.4% | 2nd least demanding of 16 |
| Growth delivered (Del g) | +2.2% | +3.5% | 7th lowest of 16 |
| Hurdle (Req g minus delivered) | -9.0 pp | +3.0 pp | 3rd least demanding of 16 |
| ROIC minus cost of capital | +4.8 pp | -2.2 pp | 3rd highest of 21 |
| EV / EBITDA | 4.7× | 8.5× | cheapest of 7 |
| Net debt / EBITDA | 2.0× | -0.2× | 2nd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| INDUS INH.DE | Germany | $1.03B | +11% | +8% | 13% | 7.0× | -6.8% | +2.2% |
| Shanghai Hajime Advanced Material Technology 301000.SZ | China | $986M | -1% | +4% | 16% | 40.9× | n/a | n/a |
| Shanghai Yanpu Precision Technology (Group) 605128.SS | China | $978M | -9% | +3% | 9% | 27.1× | 15.4% | +25.0% |
| Cangzhou Mingzhu Plastic 002108.SZ | China | $1.10B | -28% | +14% | 5% | n/a | n/a | n/a |
| Finolex Industries FINPIPE.NS | India | $932M | -20% | +3% | 14% | 16.4× | 13.0% | +3.5% |
| Jiangsu Changhai Composite Materials 300196.SZ | China | $897M | -25% | +3% | 11% | 17.9× | 3.8% | +9.0% |
| Genuit GEN.L | United Kingdom | $897M | +8% | +4% | 12% | 12.1× | 12.4% | +8.6% |
| Suzhou Victory Precision Manufacture 002426.SZ | China | $1.17B | -41% | +7% | -20% | n/a | 30.8% | -18.0% |
| Shenzhen Jame Technology 300868.SZ | China | $878M | -36% | +8% | -7% | n/a | n/a | n/a |
| China Lesso 2128.HK | Hong Kong | $1.20B | -42% | -5% | 13% | 5.7× | -4.5% | -3.5% |
| Blue Sail Medical 002382.SZ | China | $861M | -24% | +23% | 7% | 11.8× | -6.5% | -6.1% |
| PILLAR 6490.T | Japan | $1.25B | -9% | +10% | 22% | 11.5× | 18.0% | +14.5% |
| Takuma 6013.T | Japan | $1.26B | -1% | +18% | 10% | 13.6× | -5.4% | +2.5% |
| Riverstone AP4.SI | Singapore | $824M | -13% | -4% | 25% | 15.5× | 2.1% | -12.8% |
| Zhejiang Goldensea Hi-Tech 603311.SS | China | $823M | +28% | +3% | 7% | 59.6× | n/a | n/a |
| Zhejiang Kaier New Materials 300234.SZ | China | $816M | +73% | -17% | -9% | n/a | n/a | n/a |
| Hubei Huaqiang High-Tech 688151.SS | China | $800M | -22% | +13% | -5% | n/a | 47.9% | -5.6% |
| Changyuan Technology 600525.SS | China | $799M | -24% | +7% | -7% | n/a | -12.4% | +5.1% |
| Unilumin 300232.SZ | China | $796M | -23% | +1% | 0% | 32.5× | 6.4% | +10.3% |
| RHI Magnesita India RHIM.NS | India | $789M | -13% | +8% | 7% | 25.4× | 27.1% | +24.1% |
| Apex Dynamics 4583.TW | Taiwan | $775M | -58% | +14% | 33% | 24.3× | 4.5% | +1.1% |