ATOSS Software (AOF) AI Stock Analysis

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ATOSS Software

(XETRA:AOF)

Select Model

Rating:82Outperform

Price Target:EUR 110.00▲(24.43% Upside)

Action:reiterated

Date:10/27/26

The score is primarily supported by very strong financial performance (high profitability, conservative leverage, and solid free cash flow). Technicals add a positive tailwind with price above key moving averages and healthy momentum indicators. The main offset is valuation: a premium P/E reduces upside attractiveness despite a reasonable dividend yield, and recent signs of slowing revenue growth and weaker operating cash flow warrant monitoring.

Positive Factors

Sustained ProfitabilityATOSS’s sustained high operating and EBITDA margins, alongside healthy net margins, indicate strong software economics and operating discipline. This profitability provides internal funding for product development and customer support while improving resilience if growth moderates.

Negative Factors

Revenue Growth DecelerationThe long-term revenue expansion is positive, but the recent slowdown to roughly 6% reduces the pace at which ATOSS can scale its installed base and operating earnings. Persistent deceleration could make future growth more dependent on successful product expansion and customer adoption.

ATOSS Software (AOF) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 1.40B
Dividend Yield: 2.58%
Average Volume (3M): 20.70K
Price to Earnings (P/E): 27.5
Beta (1Y): 0.88
Revenue Growth: 12.01%
EPS Growth: 11.51%
Country: Germany
Employees: 856
Sector: General
Sector Strength: 55
Industry: Software - Application

ATOSS Software Business Overview & Revenue Model

Company Description

ATOSS Software AG, along with its associated firms, specializes in crafting and distributing advanced software solutions for workforce management. Its operational footprint extends across Germany, Austria, and Switzerland, reaching a broader internat...

How the Company Makes Money

ATOSS makes money primarily by selling and supporting its workforce management software and related services. Key revenue streams include: (1) Software revenue: license/subscription fees for access to ATOSS workforce management products (e.g., time &...

ATOSS Software Financial Statement Overview

Summary

Strong overall fundamentals driven by excellent profitability (high operating/EBITDA margins and healthy net margins), a very conservative balance sheet with minimal leverage and strong equity growth, and solid free cash flow generation. Key watch items are moderating revenue growth (notably slower in the latest year) and a meaningful drop in operating cash flow versus the prior year, which raises some cash-conversion consistency risk.

Income Statement

90Very Positive

Balance Sheet

93Very Positive

Cash Flow

82Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	200.40M	189.26M	170.63M	151.20M	113.92M	97.07M
Gross Profit	153.39M	145.02M	131.62M	116.58M	82.71M	70.85M
EBITDA	78.23M	72.88M	67.97M	55.80M	34.63M	31.34M
Net Income	51.21M	48.37M	45.45M	35.77M	19.38M	19.34M
Balance Sheet
Total Assets	159.65M	160.15M	143.16M	114.40M	90.34M	81.45M
Cash, Cash Equivalents and Short-Term Investments	119.73M	121.53M	111.08M	81.74M	50.56M	44.21M
Total Debt	5.55M	6.84M	6.59M	8.42M	10.25M	10.65M
Total Liabilities	72.46M	63.11M	63.19M	52.64M	42.75M	42.01M
Stockholders Equity	87.30M	97.15M	80.08M	61.87M	47.70M	39.55M
Cash Flow
Free Cash Flow	68.63M	46.24M	58.55M	50.78M	25.25M	25.23M
Operating Cash Flow	69.62M	47.23M	59.47M	52.65M	26.27M	26.28M
Investing Cash Flow	-10.99M	-1.00M	-10.93M	10.07M	-2.68M	-13.43M
Financing Cash Flow	-40.05M	-37.50M	-30.11M	-25.50M	-17.38M	-15.81M

ATOSS Software Technical Analysis

Technical Analysis SentimentNegative

Last Price88.40

Price Trends

50DMA89.79Negative

100DMA86.41Positive

200DMA82.38Positive

Market Momentum

MACD-0.06Positive

RSI46.16Neutral

STOCH10.59Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:AOF, the sentiment is Negative. The current price of 88.40 is below the 20-day moving average (MA) of 91.66, below the 50-day MA of 89.79, and above the 200-day MA of 82.38, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 46.16 is Neutral, neither overbought nor oversold. The STOCH value of 10.59 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:AOF.

ATOSS Software Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

DE:AOF against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DE:AOF	82Outperform	EUR 1.39B	27.45	55.52%	2.58%	12.01%	11.51%
DE:IVU	80Outperform	EUR 459.94M	29.24	17.60%	1.13%	10.44%	21.23%
DE:SAP	80Outperform	EUR 245.13B	29.75	17.84%	1.19%	7.92%	16.68%
DE:SJJ	63Neutral	EUR 149.63M	49.13	6.43%	―	12.98%	375.18%
DE:TMV	61Neutral	EUR 760.25M	5.69	59.73%	―	1.71%	18.60%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
DE:PSAN	39Underperform	EUR 735.97M	-25.22	-43.45%	―	2.01%	-20.18%

* General Sector Average

Performance Comparison

DE:AOF and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:AOF	ATOSS Software	88.40	-18.24	-17.10%
DE:IVU	IVU Traffic Technologies	27.20	7.83	40.40%
DE:PSAN	PSI AG fuer Produkte und Systeme der Informationstechnologie	44.90	-0.10	-0.22%
DE:SAP	SAP SE	210.95	-3.51	-1.64%
DE:TMV	TeamViewer AG	5.01	-0.96	-16.08%
DE:SJJ	Serviceware SE	14.15	-2.80	-16.52%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 27, 2026

ATOSS Software AI Stock Analysis