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PNE WIND
(XETRA:PNE3)
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Rating:41Neutral
Price Target:
€5.50
▼(-24.55% Downside)
Action:Reiterated
Date:10/15/26
The score is primarily held back by weak financial performance driven by very high leverage and sustained negative free cash flow despite improving operating results. Technicals add further pressure, with the stock in a clear downtrend and weak momentum. Valuation provides only limited support because losses make the P/E less informative and the dividend yield is modest.
Positive Factors
Strong Revenue Rebound
The sharp TTM revenue rebound indicates materially higher project activity or asset-related income and demonstrates that PNE can expand its top line when development deliveries and operating contributions align. This creates a stronger base for rebuilding earnings and funding future renewable capacity.
Negative Factors
Very High Leverage
Debt far exceeds equity, leaving PNE with a thin capital cushion if profitability or renewable asset values weaken. High leverage can absorb a substantial share of future cash generation through financing needs, restrict strategic flexibility, and heighten refinancing risk over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Rebound
The sharp TTM revenue rebound indicates materially higher project activity or asset-related income and demonstrates that PNE can expand its top line when development deliveries and operating contributions align. This creates a stronger base for rebuilding earnings and funding future renewable capacity.
Read all positive factors
PNE WIND (PNE3) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€417.56M
Dividend Yield0.73%
Average Volume (3M)68.16K
Price to Earnings (P/E)―
Beta (1Y)0.48
Revenue Growth13.19%
EPS Growth-27.65%
CountryDE
Employees633
SectorGeneral
Sector StrengthN/A
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.40
Shares Outstanding76,603,330
10 Day Avg. Volume134,734
30 Day Avg. Volume68,161
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)4.97
Price to Sales (P/S)3.36
P/FCF Ratio-5.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€12.00Price Target Upside64.61% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.05
Revenue Forecast (FY)€324.67M
PNE WIND Business Overview & Revenue Model
Company Description
PNE AG, established in 1995 and based in Cuxhaven, Germany, specializes in the comprehensive lifecycle management of wind and solar power projects globally. The company oversees every stage, from initial conceptualization, planning, and financing ...
How the Company Makes Money
PNE makes money through a combination of (1) selling renewable energy projects and (2) generating recurring income from operating renewable assets. Project development typically involves identifying and securing sites, obtaining permits, arranging...
PNE WIND Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
22
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 262.30M | 230.20M | 210.40M | 121.53M | 126.17M | 117.73M |
| Gross Profit | 128.30M | 72.60M | 71.70M | 109.58M | 100.53M | 81.57M |
| EBITDA | 81.60M | 65.90M | 62.30M | 48.50M | 63.51M | 36.13M |
| Net Income | -30.30M | -43.10M | -13.40M | -9.60M | 14.90M | 25.13M |
Balance Sheet | ||||||
| Total Assets | 1.13B | 1.21B | 1.26B | 1.10B | 920.34M | 827.00M |
| Cash, Cash Equivalents and Short-Term Investments | 56.90M | 78.10M | 91.60M | 90.40M | 121.58M | 149.63M |
| Total Debt | 828.40M | 808.70M | 893.20M | 766.42M | 569.97M | 511.86M |
| Total Liabilities | 997.10M | 1.06B | 1.07B | 893.55M | 688.18M | 605.21M |
| Stockholders Equity | 133.90M | 155.70M | 197.50M | 211.57M | 237.75M | 229.18M |
Cash Flow | ||||||
| Free Cash Flow | -85.20M | -153.90M | -211.30M | -191.64M | -104.65M | -89.05M |
| Operating Cash Flow | 6.20M | -50.00M | -176.60M | -166.16M | -9.01M | 23.78M |
| Investing Cash Flow | -39.90M | -63.00M | -29.60M | -20.13M | -98.08M | -81.99M |
| Financing Cash Flow | 27.90M | 101.40M | 220.80M | 155.11M | 79.20M | 111.97M |
PNE WIND Technical Analysis
Negative
7.29
Price Trends
6.90
Negative
8.62
Negative
8.84
Negative
Market Momentum
-0.51
Positive
25.77
Positive
8.26
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:PNE3, the sentiment is Negative. The current price of 7.29 is above the 20-day moving average (MA) of 6.45, above the 50-day MA of 6.90, and below the 200-day MA of 8.84, indicating a bearish trend. The MACD of -0.51 indicates Positive momentum. The RSI at 25.77 is Positive, neither overbought nor oversold. The STOCH value of 8.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:PNE3.
PNE WIND Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | €44.23B | 13.22 | 9.03% | 2.12% | -34.12% | 23.51% | |
62 Neutral | €48.26B | 14.42 | 16.83% | 3.09% | -8.43% | 7.19% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €323.18M | 28.07 | 5.43% | 6.44% | 54.11% | -66.69% | |
54 Neutral | €21.72B | -49.05 | -3.42% | 2.53% | 9.20% | -205.54% | |
50 Neutral | €1.99B | 46.36 | 1.88% | 4.30% | -7.56% | -71.88% | |
41 Neutral | €417.56M | -13.73 | -20.05% | 0.73% | 13.19% | -27.65% |
* General Sector Average
DE:PNE3
PNE WIND
5.47
-5.62
-50.69%
DE:EOAN
E.ON SE
18.47
2.88
18.46%
DE:EBK
EnBW Energie Baden-Wurttemberg
67.20
1.84
2.81%
DE:EKT
Energiekontor
23.30
-12.53
-34.96%
DE:MVV1
MVV Energie
30.20
0.83
2.82%
DE:RWE
RWE AG
56.70
17.01
42.87%
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.