ProCredit Holding AG AI Stock Analysis
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ProCredit Holding AG (PCZ) AI Stock Analysis
ProCredit Holding AG
(XETRA:PCZ)
The score is driven primarily by mixed financial performance—especially sustained negative operating/free cash flow and a sharp increase in debt—partly offset by improved profitability trends. Valuation is a key positive (low P/E and high dividend yield), and the latest earnings call was supportive with stronger operating momentum and improved guidance. Technicals add a modest tailwind with price trading above key moving averages and neutral-to-positive momentum.
ProCredit Holding AG (PCZ) vs. iShares MSCI Germany ETF (EWG)
- Market Cap
- EUR 588.98M
- Dividend Yield
- 4.70%
- Average Volume (3M)
- 56.18K
- Price to Earnings (P/E)
- 6.2
- Beta (1Y)
- 1.18
- Revenue Growth
- 9.51%
- EPS Growth
- 21.92%
- Country
- Germany
- Employees
- 4,609
- Sector
- Financial
- Sector Strength
- 68
- Industry
- Banks - Diversified
ProCredit Holding AG Business Overview & Revenue Model
Company Description
ProCredit Holding AG & Co. KGaA, along with its group entities, delivers a full spectrum of commercial banking solutions, catering to both small and medium-sized businesses (SMEs) and individual clients. Its operations span across Europe, South Ameri...
ProCredit Holding AG Earnings Call Summary
The call was predominantly positive. Strong loan and client growth, net interest income and margin expansion, improving operating leverage, stronger profitability, stable early credit performance, upgraded guidance and solid capital levels significantly outweighed the stated challenges. The main negatives were lower fee income, higher operating costs, the timing shift and valuation effects related to the Ecuador divestment, elevated geopolitical and provisioning risks, and tax-rate uncertainty.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
For 2026, ProCredit narrowed continuing-operations loan portfolio growth guidance to “the upper end of the previous range at 14% to 15%,” expects the cost/income ratio to be “2 to 3 percentage points better than initially anticipated,” maintains return on equity guidance at “around 7%,” expects the CET1 ratio to be “between 12.5% and 13% at year-end,” and retains a dividend payout assumption of “1/3 of consolidated profit”; completion of the ProCredit Bank Ecuador divestment is now expected in 2027, with the negative valuation effect expected in 2026 and the positive currency translation reserve effect expected in 2027. Excluding special effects, underlying full-year ROE is expected to come in “slightly north of” the 7.9% reported for the first 9 months, while 2027 lending is expected to show “similar growth rates,” the year-to-date tax-rate run rate should apply to 2027, Ukraine’s tax rate is expected to remain “around 50%,” and there is potential for an uptick in Bulgaria; through 2029, the Group aims to grow the loan portfolio “beyond EUR 10 billion,” raise ROE to “around 13% to 14%,” and move the cost/income ratio “towards 57%.”
ProCredit Holding AG Financial Statement Overview
Summary
Mixed fundamentals: the income statement shows solid multi-year profitability improvement but a clear recent slowdown (sharp revenue decline and lower net income). Balance sheet risk increased due to a very large jump in total debt despite steady equity growth. Cash flow quality is a major weakness with negative operating and free cash flow in the last two years, raising reliance on external funding.
Income Statement
66PositiveBalance Sheet
52NeutralCash Flow
28Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 507.30M | 750.83M | 692.08M | 625.68M | 478.44M | 390.74M |
| Gross Profit | 237.16M | 497.91M | 461.15M | 432.38M | 358.75M | 302.32M |
| EBITDA | 100.45M | 149.63M | 167.82M | 187.36M | 152.33M | 125.21M |
| Net Income | 74.98M | 83.50M | 104.31M | 113.37M | 16.50M | 79.64M |
Balance Sheet | ||||||
| Total Assets | 11.93B | 11.60B | 10.75B | 9.75B | 8.83B | 8.22B |
| Cash, Cash Equivalents and Short-Term Investments | 1.83B | 2.17B | 2.16B | 2.35B | 1.94B | 1.55B |
| Total Debt | 1.39B | 1.32B | 377.80M | 313.03M | 309.98M | 460.62M |
| Total Liabilities | 10.84B | 10.52B | 9.70B | 8.77B | 7.96B | 7.36B |
| Stockholders Equity | 1.08B | 1.07B | 1.06B | 983.79M | 869.43M | 856.31M |
Cash Flow | ||||||
| Free Cash Flow | 0 | -141.13M | -217.78M | 1.41M | 545.71M | 115.66M |
| Operating Cash Flow | 0 | -99.77M | -176.75M | 29.26M | 566.94M | 133.15M |
| Investing Cash Flow | 0 | -823.09M | -35.98M | -22.42M | -12.48M | -13.44M |
| Financing Cash Flow | 0 | 770.65M | 54.85M | 1.01B | -1.30M | -36.01M |
ProCredit Holding AG Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:PCZ, the sentiment is Positive. The current price of 10.00 is above the 20-day moving average (MA) of 8.84, above the 50-day MA of 8.80, and above the 200-day MA of 8.15, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 74.54 is Negative, neither overbought nor oversold. The STOCH value of 83.26 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:PCZ.
ProCredit Holding AG Peers Comparison
Overall Rating
DE:DBK71Outperform- DE:PCZ65Neutral
DE:CBK56Neutral
DE:UBK46Neutral
DE:GLJ41Neutral
DE:PBB41Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| DE:DBK | 71Outperform | EUR 60.83B | 8.66 | 10.21% | 3.01% | 0.18% | 7.38% |
| Sector * | 68Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
| DE:PCZ | 65Neutral | EUR 547.76M | 6.17 | 6.97% | 4.70% | 9.51% | 21.92% |
| DE:CBK | 56Neutral | EUR 43.14B | 12.99 | 10.03% | 2.76% | 0.50% | 32.22% |
| DE:UBK | 46Neutral | EUR 148.61M | -265.47 | -0.13% | 2.71% | ― | ― |
| DE:GLJ | 41Neutral | EUR 531.91M | 7.19 | 5.80% | 3.54% | 11.73% | -4.18% |
| DE:PBB | 41Neutral | EUR 375.19M | -6.71 | -0.96% | 5.38% | -20.56% | 76.04% |
* Financial Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| DE:PCZ | ProCredit Holding | 10.00 | 3.30 | 49.32% | |
| DE:DBK | Deutsche Bank AG | 33.19 | 3.46 | 11.63% | |
| DE:CBK | Commerzbank AG (UK) | 39.89 | 8.17 | 25.75% | |
| DE:PBB | Deutsche Pfandbriefbank | 2.59 | -1.40 | -35.04% | |
| DE:GLJ | GRENKE AG | 11.86 | -1.83 | -13.37% | |
| DE:UBK | UmweltBank AG | 3.69 | 0.03 | 0.74% |
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: Nov 12, 2026