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Size init innovation in traffic systems (IXX.DE) is a Germany Information Technology company (Information Technology Services) with a market value of $404M, the 185th largest of 205 Germany companies the cockpit tracks. Shares closed at €32.95 on 6 Nov 2026.
Performance Over six months the shares fell 37.0%, against -11.4% for the median peer and +2.6% for the Germany market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 32.7% over the last twelve months (peer median +8.2%); the operating margin is 9.5% (peer median 7.5%).
Valuation It trades at 16.3× forward earnings against a peer median of 20.9× (6th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.3 points above its cost of capital (8.4% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €389M | €330M | €266M | €211M | €191M |
| Revenue growth | — | +24% | +26% | +10% | — |
| Gross profit | €133M | €116M | €91.6M | €74.8M | €70.2M |
| EBITDA | €54.9M | €47.7M | €37.2M | €29.1M | €28.7M |
| Net income | €21.6M | €19.6M | €15.5M | €15.2M | €16.5M |
| Free cash flow | €32.1M | €44.4M | €4.21M | €4.14M | €20.1M |
| Capital expenditure | €14.9M | €18.8M | €18.1M | €12.5M | €9.97M |
| Total debt | €98.7M | €84.7M | €98.6M | €69.3M | €62.5M |
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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 | IXX.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -23.9% | -5.3% | lowest of 21 |
| 6-month return | -37.0% | -11.4% | 4th lowest of 21 |
| Distance from 52-week high | -40.3% | -33.0% | 11th highest of 21 |
| Revenue growth (TTM) | +32.7% | +8.2% | 4th highest of 21 |
| Operating margin | 9.5% | 7.5% | 8th highest of 21 |
| Forward P/E | 16.3× | 20.9× | 6th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 1.1% | -3.8% | 4th most demanding of 13 |
| Growth delivered (Del g) | +12.8% | +8.1% | 4th highest of 13 |
| Hurdle (Req g minus delivered) | -11.7 pp | -16.1 pp | 7th least demanding of 13 |
| ROIC minus cost of capital | +4.3 pp | -0.8 pp | 9th highest of 19 |
| EV / EBITDA | 6.9× | 8.5× | 4th cheapest of 9 |
| Net debt / EBITDA | 0.3× | -1.5× | 4th most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| init innovation in traffic systems IXX.DE | Germany | $404M | -37% | +33% | 10% | 16.3× | 1.1% | +12.8% |
| Beijing Haohan Data Technology 688292.SS | China | $408M | -23% | +6% | -12% | n/a | n/a | n/a |
| Lians Technology 300051.SZ | China | $399M | -57% | -50% | -114% | 7.6× | n/a | n/a |
| Carlsmed CARL | United States | $396M | +48% | +65% | -61% | n/a | n/a | n/a |
| Weihai Huadong Automation 002248.SZ | China | $396M | -34% | +1% | 8% | n/a | 36.8% | +10.1% |
| m-up 3661.T | Japan | $413M | +24% | +22% | 16% | 19.3× | -7.5% | +20.8% |
| Tsuzuki Denki 8157.T | Japan | $395M | +9% | +8% | 7% | n/a | -9.2% | -2.9% |
| CI&T CINT | United States | $394M | -21% | +20% | 11% | 7.6× | -4.4% | +21.4% |
| Yidu Tech 2158.HK | Hong Kong | $392M | -53% | +17% | -11% | 30.6× | 2.9% | -1.9% |
| HCR 688500.SS | China | $391M | -28% | +5% | -17% | n/a | n/a | n/a |
| Computer Engineering & Consulting 9692.T | Japan | $420M | +5% | +18% | 11% | 10.6× | -18.5% | +6.5% |
| Smaregi 4431.T | Japan | $421M | +42% | +21% | 26% | 22.4× | -3.2% | +32.0% |
| Comp CMP.WA | Poland | $427M | +64% | +7% | 11% | 22.5× | 6.0% | +3.3% |
| BizConf Technology 300578.SZ | China | $373M | -41% | -3% | -13% | 97.8× | n/a | n/a |
| ChinaEtek Service and Technology 301208.SZ | China | $369M | -25% | +47% | 3% | n/a | n/a | n/a |
| JFE Systems 4832.T | Japan | $369M | -2% | -14% | 11% | n/a | -19.0% | +4.3% |
| Altia Consultores ALC.MC | Spain | $444M | -17% | +23% | 8% | n/a | n/a | n/a |
| Telos TLS | United States | $360M | +8% | +66% | -2% | 38.1× | -2.3% | -1.7% |
| Sword SWP.PA | France | $360M | +4% | +8% | 9% | 12.0× | -0.1% | +11.0% |
| Shanghai Newtouch Software 688590.SS | China | $454M | -28% | +5% | -7% | 134.5× | n/a | n/a |
| I'LL 3854.T | Japan | $357M | -6% | +8% | 27% | 15.5× | -11.5% | +9.6% |