PSI AG fuer Produkte und Systeme der Informationstechnologie (PSAN) AI Stock Analysis

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PSI AG fuer Produkte und Systeme der Informationstechnologie

(XETRA:PSAN)

Select Model

Rating:46Neutral

Price Target:EUR 44.00▼(-2.00% Downside)

Action:reiterated

Date:11/04/26

The score is held back primarily by weak financial quality: despite a sharp revenue rebound, PSI AG is still loss-making and has negative, volatile operating/free cash flow. Technicals are neutral with only mild downside bias, and valuation is constrained by negative earnings (negative P/E) with no dividend yield data to offset profitability risk.

Positive Factors

Revenue ReboundThe sharp TTM revenue rebound indicates renewed demand and improved commercial performance after the prior downturn. If maintained, stronger scale can support operating leverage, fund product investment, and improve the company’s ability to rebuild sustainable earnings over the next several quarters.

Negative Factors

Persistent LossesRevenue recovery has not yet translated into sustainable profitability, leaving PSI exposed to continued earnings pressure. Negative EBIT and net income reduce internal funding capacity, constrain strategic flexibility, and make the business more vulnerable if growth moderates or costs remain elevated.

PSI AG fuer Produkte und Systeme der Informationstechnologie (PSAN) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 702.54M
Dividend Yield: ―
Average Volume (3M): 529
Price to Earnings (P/E): -25.2
Beta (1Y): 0.42
Revenue Growth: 2.01%
EPS Growth: -20.18%
Country: Germany
Employees: 2,241
Sector: General
Sector Strength: 55
Industry: Software - Application

PSI AG fuer Produkte und Systeme der Informationstechnologie Business Overview & Revenue Model

Company Description

PSI Software AG is a global developer and vendor of software systems and products, serving a diverse range of industries including energy supply, manufacturing, infrastructure, software technology, internet applications, and business consulting. The...

PSI AG fuer Produkte und Systeme der Informationstechnologie Financial Statement Overview

Summary

Strong TTM revenue rebound (+60.3%) and improved losses versus 2025, but the company remains loss-making (negative EBIT and ~-9.6% net margin) with volatile and currently negative cash flow. Balance sheet leverage is moderate and improved (debt-to-equity ~0.76), yet deeply negative ROE (~-43%) underscores ongoing earnings pressure.

Income Statement

34Negative

Balance Sheet

56Neutral

Cash Flow

37Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	292.80M	285.53M	260.84M	269.89M	247.94M	248.39M
Gross Profit	33.14M	22.92M	17.85M	69.99M	78.13M	79.92M
EBITDA	342.00K	-20.67M	310.00K	21.09M	34.64M	38.56M
Net Income	-28.24M	-31.64M	-20.96M	324.00K	16.75M	15.84M
Balance Sheet
Total Assets	293.83M	278.06M	273.86M	283.15M	272.60M	284.12M
Cash, Cash Equivalents and Short-Term Investments	33.24M	27.29M	26.48M	50.48M	45.44M	67.48M
Total Debt	56.17M	80.33M	54.33M	39.81M	29.18M	27.90M
Total Liabilities	219.57M	210.89M	178.46M	171.43M	153.56M	169.41M
Stockholders Equity	74.26M	67.17M	95.40M	111.73M	119.04M	114.72M
Cash Flow
Free Cash Flow	-18.21M	9.52M	-27.41M	9.12M	-6.95M	33.36M
Operating Cash Flow	-12.54M	11.55M	-19.68M	16.78M	3.36M	38.75M
Investing Cash Flow	-12.22M	701.00K	-7.01M	-6.92M	-9.80M	-5.01M
Financing Cash Flow	27.84M	-13.29M	5.32M	-4.96M	-15.85M	-7.69M

PSI AG fuer Produkte und Systeme der Informationstechnologie Technical Analysis

Technical Analysis SentimentNegative

Last Price44.90

Price Trends

50DMA45.09Negative

100DMA45.17Negative

200DMA45.27Negative

Market Momentum

MACD-0.02Positive

RSI46.08Neutral

STOCH47.09Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:PSAN, the sentiment is Negative. The current price of 44.90 is below the 20-day moving average (MA) of 45.00, below the 50-day MA of 45.09, and below the 200-day MA of 45.27, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 46.08 is Neutral, neither overbought nor oversold. The STOCH value of 47.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:PSAN.

PSI AG fuer Produkte und Systeme der Informationstechnologie Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

DE:PSAN against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DE:AOF	82Outperform	EUR 1.49B	27.61	55.52%	2.56%	12.01%	11.51%
DE:IVU	80Outperform	EUR 453.03M	30.69	16.60%	1.15%	10.44%	21.23%
DE:SAP	80Outperform	EUR 251.90B	29.72	17.84%	1.19%	7.92%	16.68%
DE:CSH	66Neutral	EUR 81.74M	12.28	12.95%	―	-0.58%	―
DE:MUM	64Neutral	EUR 574.82M	17.57	40.67%	12.05%	7.71%	5.31%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
DE:PSAN	46Neutral	EUR 732.71M	-25.22	-43.45%	―	2.01%	-20.18%

* General Sector Average

Performance Comparison

DE:PSAN and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:PSAN	PSI AG fuer Produkte und Systeme der Informationstechnologie	44.90	-0.10	-0.22%
DE:AOF	ATOSS Software	88.90	-16.96	-16.02%
DE:CSH	Cenit AG	7.62	0.56	7.93%
DE:IVU	IVU Traffic Technologies	26.70	7.23	37.13%
DE:SAP	SAP SE	210.75	-1.89	-0.89%
DE:MUM	Mensch und Maschine Software SE	33.20	-6.05	-15.42%

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: Nov 04, 2026

PSI AG fuer Produkte und Systeme der Informationstechnologie AI Stock Analysis