(HDD) Heidelberger Druckmaschinen - Overview
Sector: Industrials | Industry: Specialty Industrial Machinery | Exchange: XETRA (Germany) | Market Cap: 420m EUR | Total Return: -7.1% in 12m
Avg Turnover: 1.22M
Rev. Trend: -46.7%
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Heidelberger Druckmaschinen Aktiengesellschaft (HDD) is a Germany-based manufacturer specializing in precision printing technology and industrial solutions. The company operates through three primary segments: Print Solutions, Packaging Solutions, and Technology Solutions. Its portfolio encompasses the entire printing value chain, including prepress equipment, offset and digital presses, and postpress finishing machinery such as die-cutters and folders.
The business model relies on a mix of capital equipment sales and recurring revenue streams from consumables, maintenance services, and software solutions. While traditionally focused on commercial printing, the company has diversified into high-growth sectors including e-mobility, power electronics, and robotics. This shift reflects a broader trend in the industrial machinery sector where traditional mechanical engineering firms pivot toward automation and digital transformation to offset cyclical volatility in the print media market.
For a more granular look at the companys valuation metrics, investors may find it useful to explore the data available on ValueRay.
- Global packaging demand growth offsets declining commercial printing press sales volumes
- High energy and raw material costs pressure industrial manufacturing margins
- Expansion into e-mobility and wallbox charging technology diversifies revenue streams
- High sensitivity to Chinese economic recovery and regional capital expenditure cycles
- Service and consumables revenue provides recurring cash flow against cyclical hardware sales
| Net Income: 64.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 3.42 > 1.0 |
| NWC/Revenue: 13.65% < 20% (prev 17.13%; Δ -3.48% < -1%) |
| CFO/TA 0.07 > 3% & CFO 144.0m > Net Income 64.0m |
| Net Debt (84.0m) to EBITDA (197.0m): 0.43 < 3 |
| Current Ratio: 1.41 > 1.5 & < 3 |
| Outstanding Shares: last quarter (283.3m) vs 12m ago -6.90% < -2% |
| Gross Margin: 39.78% > 18% (prev 0.54%; Δ 3.92k% > 0.5%) |
| Asset Turnover: 108.9% > 50% (prev 100.5%; Δ 8.38% > 0%) |
| Interest Coverage Ratio: 3.33 > 6 (EBITDA TTM 197.0m / Interest Expense TTM 36.0m) |
| A: 0.15 (Total Current Assets 1.11b - Total Current Liabilities 788.0m) / Total Assets 2.15b |
| B: 0.01 (Retained Earnings 17.0m / Total Assets 2.15b) |
| C: 0.06 (EBIT TTM 120.0m / Avg Total Assets 2.18b) |
| D: 0.50 (Book Value of Equity 796.0m / Total Liabilities 1.59b) |
| Altman-Z'' = 1.91 = BBB |
| DSRI: 0.64 (Receivables 217.0m/316.0m, Revenue 2.37b/2.22b) |
| GMI: 1.35 (GM 39.78% / 53.70%) |
| AQI: 1.09 (AQ_t 0.17 / AQ_t-1 0.16) |
| SGI: 1.07 (Revenue 2.37b / 2.22b) |
| TATA: -0.04 (NI 64.0m - CFO 144.0m) / TA 2.15b) |
| Beneish M = -2.94 (Cap -4..+1) = A |
As of May 25, 2026, the stock is trading at EUR 1.35 with a total of 906,165 shares traded.
Over the past week, the price has changed by -3.29%,
over one month by -7.21%,
over three months by -6.44% and
over the past year by -7.08%.
Heidelberger Druckmaschinen has no consensus analysts rating.
P/E Trailing = 6.2727
P/E Forward = 7.8555
P/S = 0.176
P/B = 0.779
P/EG = 15.4
Revenue TTM = 2.37b EUR
EBIT TTM = 120.0m EUR
EBITDA TTM = 197.0m EUR
Long Term Debt = 96.0m EUR (from longTermDebt, last quarter)
Short Term Debt = 31.0m EUR (from shortTermDebt, last quarter)
Debt = 193.0m EUR (from shortLongTermDebtTotal, last quarter) + Leases 66.0m
Net Debt = 84.0m EUR (calculated: Debt 193.0m - CCE 109.0m)
Enterprise Value = 504.0m EUR (420.0m + Debt 193.0m - CCE 109.0m)
Interest Coverage Ratio = 3.33 (Ebit TTM 120.0m / Interest Expense TTM 36.0m)
EV/FCF = 8.54x (Enterprise Value 504.0m / FCF TTM 59.0m)
FCF Yield = 11.71% (FCF TTM 59.0m / Enterprise Value 504.0m)
FCF Margin = 2.49% (FCF TTM 59.0m / Revenue TTM 2.37b)
Net Margin = 2.70% (Net Income TTM 64.0m / Revenue TTM 2.37b)
Gross Margin = 39.78% ((Revenue TTM 2.37b - Cost of Revenue TTM 1.43b) / Revenue TTM)
Gross Margin QoQ = 16.37% (prev 58.57%)
Tobins Q-Ratio = 0.23 (Enterprise Value 504.0m / Total Assets 2.15b)
Interest Expense / Debt = 18.65% (Interest Expense 36.0m / Debt 193.0m)
Taxrate = 26.09% (6.00m / 23.0m)
NOPAT = 88.7m (EBIT 120.0m * (1 - 26.09%))
Current Ratio = 1.41 (Total Current Assets 1.11b / Total Current Liabilities 788.0m)
Debt / Equity = 0.34 (Debt 193.0m / totalStockholderEquity, last quarter 563.0m)
Debt / EBITDA = 0.43 (Net Debt 84.0m / EBITDA 197.0m)
Debt / FCF = 1.42 (Net Debt 84.0m / FCF TTM 59.0m)
Total Stockholder Equity = 539.5m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.94% (Net Income 64.0m / Total Assets 2.15b)
RoE = 11.86% (Net Income TTM 64.0m / Total Stockholder Equity 539.5m)
RoCE = 18.88% (EBIT 120.0m / Capital Employed (Equity 539.5m + L.T.Debt 96.0m))
RoIC = 6.90% (NOPAT 88.7m / Invested Capital 1.29b)
WACC = 10.01% (E(420.0m)/V(613.0m) * Re(8.28%) + D(193.0m)/V(613.0m) * Rd(18.65%) * (1-Tc(0.26)))
Discount Rate = 8.28% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -20.45 | Cagr: -1.03%
[DCF] Terminal Value 69.83% ; FCFF base≈59.0m ; Y1≈59.2m ; Y5≈62.8m
[DCF] Fair Price = 2.22 (EV 760.8m - Net Debt 84.0m = Equity 676.8m / Shares 304.3m; r=10.01% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: -46.65 | Revenue CAGR: -1.79% | SUE: N/A | # QB: 0