INDUS Holding (INH) AI Stock Analysis

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INDUS Holding

(XETRA:INH)

Select Model

Rating:68Neutral

Price Target:EUR 45.00▲(27.48% Upside)

Action:downgraded

Date:08/17/26

The score is primarily driven by improving profitability and a constructive price trend, supported by reasonable valuation and a solid dividend yield. Offsetting factors include elevated balance-sheet leverage and weaker TTM cash-to-earnings conversion, while technical momentum appears somewhat stretched (overbought).

Positive Factors

Improving Revenue and ProfitabilityThe combination of revenue growth and stronger operating margins indicates improved business performance across the portfolio. If maintained, higher EBIT profitability can support reinvestment, strengthen subsidiary economics, and improve the holding company’s earnings base over the next several quarters.

Negative Factors

Meaningful Balance-Sheet LeverageDebt roughly matching equity reduces financial flexibility compared with a more conservatively financed industrial owner. If operating conditions weaken, elevated leverage can constrain acquisitions, investment, and shareholder returns while increasing the sensitivity of results to financing and business-cycle pressures.

INDUS Holding (INH) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 910.74M
Dividend Yield: 3.68%
Average Volume (3M): 39.48K
Price to Earnings (P/E): 8.5
Beta (1Y): 0.97
Revenue Growth: 8.41%
EPS Growth: 107.73%
Country: Germany
Employees: 8,921
Sector: General
Sector Strength: 55
Industry: Conglomerates

INDUS Holding Business Overview & Revenue Model

Company Description

INDUS Holding AG is a private equity firm specializing in mergers and acquisitions and corporate spin-offs. The firm does not invest in retail and service companies, pure trading or consumer goods businesses, companies with significant dependencies o...

INDUS Holding Financial Statement Overview

Summary

Operating performance is improving (revenue up ~5% TTM with higher gross and EBIT margins), but overall quality is moderated by meaningful leverage (debt-to-equity ~1.03) and weaker cash conversion (FCF-to-net income ~0.50 TTM, down from ~0.68).

Income Statement

71Positive

Balance Sheet

58Neutral

Cash Flow

62Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.86B	1.74B	1.72B	1.81B	1.80B	1.74B
Gross Profit	408.83M	338.91M	961.49M	989.30M	965.44M	953.58M
EBITDA	326.99M	229.71M	215.16M	250.15M	221.62M	247.48M
Net Income	102.86M	69.03M	53.71M	55.44M	72.89M	46.81M
Balance Sheet
Total Assets	2.02B	1.97B	1.81B	1.93B	1.89B	1.86B
Cash, Cash Equivalents and Short-Term Investments	124.04M	217.61M	145.15M	265.84M	127.82M	136.32M
Total Debt	789.86M	761.64M	686.59M	772.01M	721.37M	640.45M
Total Liabilities	1.26B	1.24B	1.11B	1.21B	1.20B	1.07B
Stockholders Equity	763.18M	729.42M	697.54M	717.94M	683.16M	785.63M
Cash Flow
Free Cash Flow	72.42M	101.82M	92.78M	155.71M	61.80M	40.98M
Operating Cash Flow	116.34M	150.19M	143.68M	217.66M	116.34M	116.57M
Investing Cash Flow	-71.83M	-73.24M	-65.37M	-50.08M	-94.44M	-130.36M
Financing Cash Flow	-33.25M	-1.63M	-199.88M	-501.00K	55.91M	-44.47M

INDUS Holding Technical Analysis

Technical Analysis SentimentNegative

Last Price35.30

Price Trends

50DMA38.00Negative

100DMA33.41Positive

200DMA30.99Positive

Market Momentum

MACD-0.44Positive

RSI36.13Neutral

STOCH22.50Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:INH, the sentiment is Negative. The current price of 35.30 is below the 20-day moving average (MA) of 37.72, below the 50-day MA of 38.00, and above the 200-day MA of 30.99, indicating a neutral trend. The MACD of -0.44 indicates Positive momentum. The RSI at 36.13 is Neutral, neither overbought nor oversold. The STOCH value of 22.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:INH.

INDUS Holding Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

DE:INH against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DE:MBB	78Outperform	EUR 822.31M	16.95	8.98%	2.36%	1.18%	30.59%
DE:INH	68Neutral	EUR 910.74M	8.55	13.90%	3.68%	8.41%	107.73%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
DE:BRNK	50Neutral	EUR 29.34M	-0.12	-45.53%	―	―	―
DE:DBAN	50Neutral	EUR 347.14M	-18.10	-2.85%	5.42%	5.19%	-161.11%
DE:PAT	43Neutral	EUR 545.11M	20.49	2.60%	5.67%	3.30%	27.90%
DE:IUR	39Underperform	EUR 7.88M	-0.13	-134.10%	―	5.05%	-25.27%

* General Sector Average

Performance Comparison

DE:INH and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:INH	INDUS Holding	35.30	14.19	67.23%
DE:DBAN	Deutsche Beteiligungs	18.46	-4.48	-19.52%
DE:BRNK	DIC ASSET	0.35	-1.78	-83.56%
DE:IUR	KAP Beteiligungs AG	1.01	-3.79	-78.85%
DE:MBB	MBB SE	192.00	-1.65	-0.85%
DE:PAT	Patrizia Immobilien	6.35	-0.48	-7.01%

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: Aug 17, 2026

INDUS Holding AI Stock Analysis