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Dr. Hoenle AG
(XETRA:HNL)
Select Model
Select Model
Rating:49Neutral
Price Target:
€8.00
▲(0.76% Upside)
Action:Reiterated
Date:08/20/26
The score is held back primarily by weak profitability (very low gross margin and negative net income) despite strong TTM revenue growth and improved positive free cash flow. Technicals are also unfavorable with price below key moving averages and a negative MACD, while valuation is constrained by a negative P/E that reflects continuing losses.
Positive Factors
TTM Revenue Rebound
The sharp TTM revenue rebound indicates renewed demand for the company’s UV and LED industrial solutions. If sustained across end markets, higher sales can improve operating leverage and support a broader recovery in profitability.
Negative Factors
Severe Gross Margin Pressure
The collapse in gross margin shows that higher revenue has not translated into equivalent economic value. Unless pricing, product mix or production efficiency improves, weak gross profitability will constrain operating leverage and sustainable earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
TTM Revenue Rebound
The sharp TTM revenue rebound indicates renewed demand for the company’s UV and LED industrial solutions. If sustained across end markets, higher sales can improve operating leverage and support a broader recovery in profitability.
Read all positive factors
Dr. Hoenle AG (HNL) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€45.83M
Dividend Yield0.65%
Average Volume (3M)3.58K
Price to Earnings (P/E)―
Beta (1Y)0.83
Revenue Growth-3.71%
EPS Growth78.57%
CountryDE
Employees553
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.48
Shares Outstanding6,062,930
10 Day Avg. Volume6,029
30 Day Avg. Volume3,577
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)0.65
Price to Sales (P/S)0.53
P/FCF Ratio15.82
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.2
Revenue Forecast (FY)€93.60M
Dr. Hoenle AG Business Overview & Revenue Model
Company Description
Dr. Hönle AG is a global provider specializing in industrial ultraviolet (UV) technologies and related systems, with operations spanning Germany and international markets. The company organizes its business into three main segments: Adhesives, Equ...
How the Company Makes Money
Dr. Hönle AG primarily makes money by selling industrial UV/LED equipment and related products and services used in customers’ manufacturing and processing lines. Key revenue streams include: (1) Sales of UV/LED systems and components: revenue fro...
Dr. Hoenle AG Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
56
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 92.90M | 93.68M | 98.73M | 106.34M | 116.09M | 115.17M |
| Gross Profit | 1.27M | 12.47M | 60.07M | 53.35M | 69.28M | 69.34M |
| EBITDA | 7.09M | 6.00M | 3.02M | 539.00K | 20.41M | 14.02M |
| Net Income | -2.91M | -3.17M | -13.28M | -11.01M | -13.36M | -4.82M |
Balance Sheet | ||||||
| Total Assets | 142.67M | 145.52M | 155.38M | 176.16M | 195.46M | 202.91M |
| Cash, Cash Equivalents and Short-Term Investments | 7.23M | 7.75M | 7.51M | 9.32M | 7.13M | 12.07M |
| Total Debt | 46.62M | 48.25M | 53.24M | 56.89M | 59.53M | 53.64M |
| Total Liabilities | 66.55M | 68.48M | 75.70M | 80.02M | 88.22M | 91.78M |
| Stockholders Equity | 75.92M | 76.87M | 79.42M | 95.82M | 106.88M | 110.72M |
Cash Flow | ||||||
| Free Cash Flow | 4.81M | 3.17M | 3.44M | 209.00K | -11.71M | -15.96M |
| Operating Cash Flow | 6.27M | 5.06M | 5.53M | 3.14M | -7.41M | 1.13M |
| Investing Cash Flow | 780.00K | 1.49M | -2.37M | 2.65M | -1.69M | -24.50M |
| Financing Cash Flow | -5.66M | -6.44M | -4.90M | -3.42M | 3.73M | 1.25M |
Dr. Hoenle AG Technical Analysis
Negative
7.94
Price Trends
8.09
Negative
8.69
Negative
8.56
Negative
Market Momentum
-0.12
Positive
39.01
Neutral
13.93
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:HNL, the sentiment is Negative. The current price of 7.94 is above the 20-day moving average (MA) of 7.90, below the 50-day MA of 8.09, and below the 200-day MA of 8.56, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 39.01 is Neutral, neither overbought nor oversold. The STOCH value of 13.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:HNL.
Dr. Hoenle AG Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | €1.38B | 49.93 | 8.73% | 0.05% | -15.45% | -51.36% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | €45.83M | -15.85 | -3.82% | 0.65% | -3.71% | 78.57% | |
48 Neutral | €132.80M | -62.89 | -1.09% | 1.98% | -8.60% | -107.57% | |
47 Neutral | €325.80M | -12.60 | -34.65% | 0.47% | -27.00% | -5153.47% | |
45 Neutral | €85.58M | -7.37 | 18.15% | ― | -6.77% | -47.94% |
* General Sector Average
DE:HNL
Dr. Hoenle AG
7.66
-0.60
-7.26%
DE:LPK
LPKF Laser & Electronics
13.55
5.72
73.05%
DE:M5Z
Manz AG
0.01
-0.17
-94.38%
DE:MXHN
MAX Automation
3.38
-2.44
-41.92%
DE:SNG
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9.76
8.11
489.73%
DE:SMHN
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74.35
47.62
178.16%
Dr. Hoenle AG Corporate Events
Business Operations and StrategyFinancial Disclosures
Hoenle AG Cuts 2025/26 Forecast as Mechanical Engineering Weakness Hits Curing Business
Negative
Jul 22, 2026
Hoenle AG has lowered its forecast for the 2025/26 financial year as economic weakness in mechanical and plant engineering, particularly in the printing industry, weighs on demand. The company now expects group sales of €92 million to €...
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.