FRIWO AG (CEA) AI Stock Analysis

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FRIWO AG

(XETRA:CEA)

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Rating:39Underperform

Price Target:EUR 4.00▲(15.61% Upside)

Action:downgraded

Date:09/23/26

Low overall score primarily reflects weak financial performance from revenue declines, inconsistent profitability and negative cash flows, reinforced by bearish technical indicators showing price below moving averages and negative momentum.

Positive Factors

Deleveraging and stronger equity baseThe sharp reduction in debt and rebuilding of equity materially improve financial flexibility. A less leveraged balance sheet can reduce financing pressure, support investment in products and customer programs, and provide greater resilience through normal business volatility over the coming quarters.

Negative Factors

Negative operating and free cash flowWeak cash conversion is a material concern because reported earnings are not currently translating into cash generation. Persistent working-capital drag could limit funding available for product development, debt service, and growth, while also reducing confidence in the durability of the latest profit rebound.

FRIWO AG (CEA) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 29.60M
Dividend Yield: ―
Average Volume (3M): 1,374
Price to Earnings (P/E): 28.8
Beta (1Y): -0.01
Revenue Growth: -30.50%
EPS Growth: -69.34%
Country: Germany
Employees: 805
Sector: Industrials
Sector Strength: 63
Industry: Electrical Equipment & Parts

FRIWO AG Business Overview & Revenue Model

Company Description

FRIWO AG, together with its subsidiaries, develops, manufactures, and sells smart power supplies units and drive solutions in Germany, rest of Europe, Asia, and internationally. The company offers intelligent components and systems for electric drive...

How the Company Makes Money

FRIWO AG makes money primarily by selling power supply and drive-technology products and related development/manufacturing services to business customers (typically OEMs) that integrate these components into their end products. Key revenue streams in...

FRIWO AG Financial Statement Overview

Summary

Weak financial performance with declining revenues from €184.9M to €77.4M, return to net profit in 2025 but near-zero operating margin, volatile equity recovery, high historical leverage, and negative operating and free cash flows.

Income Statement

35Negative

Balance Sheet

40Negative

Cash Flow

30Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	83.50M	77.36M	93.02M	111.08M	184.87M	100.55M
Gross Profit	9.87M	13.72M	11.97M	11.07M	17.66M	4.57M
EBITDA	-12.15M	3.33M	36.00K	-3.15M	8.92M	-4.08M
Net Income	956.00K	13.94M	-6.25M	-11.52M	512.00K	-10.55M
Balance Sheet
Total Assets	39.90M	42.43M	63.69M	71.22M	104.97M	75.69M
Cash, Cash Equivalents and Short-Term Investments	6.02M	7.51M	7.91M	4.70M	6.89M	2.87M
Total Debt	12.27M	11.14M	33.04M	34.32M	38.42M	36.45M
Total Liabilities	27.62M	27.34M	60.35M	61.57M	80.06M	66.72M
Stockholders Equity	12.28M	15.09M	3.35M	9.65M	24.91M	8.97M
Cash Flow
Free Cash Flow	-17.98M	-1.56M	1.69M	1.21M	-7.67M	-20.35M
Operating Cash Flow	-16.74M	-329.00K	3.11M	4.16M	-2.81M	-17.74M
Investing Cash Flow	24.03M	25.59M	817.00K	-3.85M	-5.83M	-2.58M
Financing Cash Flow	-20.70M	-24.72M	-3.23M	-2.50M	12.65M	18.99M

FRIWO AG Technical Analysis

Technical Analysis SentimentNegative

Last Price3.46

Price Trends

50DMA3.75Negative

100DMA4.26Negative

200DMA4.84Negative

Market Momentum

MACD-0.04Negative

RSI40.39Neutral

STOCH40.58Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:CEA, the sentiment is Negative. The current price of 3.46 is below the 20-day moving average (MA) of 3.56, below the 50-day MA of 3.75, and below the 200-day MA of 4.84, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 40.39 is Neutral, neither overbought nor oversold. The STOCH value of 40.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:CEA.

FRIWO AG Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

DE:CEA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
DE:R3NK	57Neutral	EUR 3.29B	47.37	14.56%	1.77%	10.63%	28.99%
DE:LMIA	48Neutral	EUR 24.44M	7.37	16.48%	―	17.11%	―
DE:CEA	39Underperform	EUR 30.97M	28.83	6.99%	―	-30.50%	-69.34%

* Industrials Sector Average

Performance Comparison

DE:CEA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:CEA	FRIWO AG	3.46	-1.59	-31.49%
DE:OSR	OSRAM Licht AG	52.00	1.93	3.85%
DE:SLT	Schaltbau Holding	65.00	-0.01	-0.02%
DE:C0M	Compleo Charging Solutions AG	0.02	-0.05	-74.29%
DE:LMIA	Lion E-Mobility AG	1.25	-0.01	-0.79%
DE:R3NK	RENK Group AG	32.76	-29.89	-47.71%

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: Sep 23, 2026

FRIWO AG AI Stock Analysis