(INH) Indus Holding - Ratings and Ratios
Manufacturing, Automation, Medical, Green, Infrastructure
Dividends
| Dividend Yield | 4.40% |
| Yield on Cost 5y | 4.58% |
| Yield CAGR 5y | -6.94% |
| Payout Consistency | 93.7% |
| Payout Ratio | 45.4% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 27.3% |
| Value at Risk 5%th | 42.4% |
| Relative Tail Risk | -5.49% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.91 |
| Alpha | 26.68 |
| CAGR/Max DD | 0.31 |
| Character TTM | |
|---|---|
| Hurst Exponent | |
| Beta | 0.252 |
| Beta Downside | 0.461 |
| Drawdowns 3y | |
|---|---|
| Max DD | 31.36% |
| Mean DD | 14.13% |
| Median DD | 15.40% |
Description: INH Indus Holding November 30, 2025
Indus Holding AG (XETRA:INH) is a German private-equity firm founded in 1989 that focuses on acquiring majority stakes in midsize, owner-managed manufacturing businesses across energy, environmental tech, logistics, automation, life-science, construction, and security sectors within Germany, Switzerland, Austria and other German-speaking regions.
The firm targets companies with annual revenues of €20-100 million, equity ratios above 30 %, double-digit EBIT margins and minimal bank debt, aiming to eventually own 100 % of each portfolio company. It typically invests directly from its balance sheet rather than through external funds.
According to the latest public filings (Q2 2024), Indus Holding’s portfolio comprises roughly 12 companies generating combined EBITDA of €85 million, reflecting an average EBITDA multiple of ~7.5×-in line with the German mid-market M&A benchmark of 6-9× for industrial assets.
Key macro drivers for Indus’s focus areas include the EU’s Green Deal, which is projected to boost green-technology capex by ~15 % annually through 2028, and a persistent shortage of skilled labor in German manufacturing that is driving automation investments at a CAGR of ~9 % over the 2023-2027 horizon.
Given Indus’s disciplined investment criteria and the favorable sector tailwinds, the firm’s exposure to high-margin, low-leverage industrial assets could offer resilience against broader market volatility.
For a deeper dive into Indus Holding’s valuation metrics and peer comparisons, you might explore the analytics on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income (65.8m TTM) > 0 and > 6% of Revenue (6% = 102.8m TTM) |
| FCFTA 0.04 (>2.0%) and ΔFCFTA -2.56pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 27.55% (prev 20.21%; Δ 7.34pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.08 (>3.0%) and CFO 144.1m > Net Income 65.8m (YES >=105%, WARN >=100%) |
| Net Debt (500.3m) to EBITDA (146.3m) ratio: 3.42 <= 3.0 (WARN <= 3.5) |
| Current Ratio 2.14 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (24.9m) change vs 12m ago -3.45% (target <= -2.0% for YES) |
| Gross Margin 56.64% (prev 37.67%; Δ 18.97pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 90.48% (prev 92.03%; Δ -1.55pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 2.67 (EBITDA TTM 146.3m / Interest Expense TTM 27.8m) >= 6 (WARN >= 3) |
Altman Z'' 2.79
| (A) 0.25 = (Total Current Assets 885.9m - Total Current Liabilities 413.8m) / Total Assets 1.92b |
| (B) 0.19 = Retained Earnings (Balance) 357.1m / Total Assets 1.92b |
| (C) 0.04 = EBIT TTM 74.4m / Avg Total Assets 1.89b |
| (D) 0.30 = Book Value of Equity 357.1m / Total Liabilities 1.20b |
| Total Rating: 2.79 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 55.20
| 1. Piotroski 4.50pt |
| 2. FCF Yield 7.32% |
| 3. FCF Margin 4.91% |
| 4. Debt/Equity 0.96 |
| 5. Debt/Ebitda 3.42 |
| 6. ROIC - WACC (= 0.58)% |
| 7. RoE 9.37% |
| 8. Rev. Trend -31.67% |
| 9. EPS Trend 37.25% |
What is the price of INH shares?
Over the past week, the price has changed by +0.00%, over one month by +10.08%, over three months by +22.15% and over the past year by +34.10%.
Is INH a buy, sell or hold?
What are the forecasts/targets for the INH price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 34.1 | 24.9% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 30.9 | 13.2% |
INH Fundamental Data Overview December 05, 2025
Market Cap EUR = 664.7m (664.7m EUR * 1.0 EUR.EUR)
P/E Trailing = 10.1136
P/E Forward = 7.7519
P/S = 0.3866
P/B = 0.9204
P/EG = 1.67
Beta = 1.262
Revenue TTM = 1.71b EUR
EBIT TTM = 74.4m EUR
EBITDA TTM = 146.3m EUR
Long Term Debt = 616.0m EUR (from longTermDebt, last quarter)
Short Term Debt = 86.7m EUR (from shortLongTermDebt, last quarter)
Debt = 686.6m EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 500.3m EUR (from netDebt column, last quarter)
Enterprise Value = 1.15b EUR (664.7m + Debt 686.6m - CCE 202.4m)
Interest Coverage Ratio = 2.67 (Ebit TTM 74.4m / Interest Expense TTM 27.8m)
FCF Yield = 7.32% (FCF TTM 84.1m / Enterprise Value 1.15b)
FCF Margin = 4.91% (FCF TTM 84.1m / Revenue TTM 1.71b)
Net Margin = 3.84% (Net Income TTM 65.8m / Revenue TTM 1.71b)
Gross Margin = 56.64% ((Revenue TTM 1.71b - Cost of Revenue TTM 743.0m) / Revenue TTM)
Gross Margin QoQ = 57.20% (prev 56.49%)
Tobins Q-Ratio = 0.60 (Enterprise Value 1.15b / Total Assets 1.92b)
Interest Expense / Debt = 1.02% (Interest Expense 6.97m / Debt 686.6m)
Taxrate = 20.19% (8.43m / 41.8m)
NOPAT = 59.3m (EBIT 74.4m * (1 - 20.19%))
Current Ratio = 2.14 (Total Current Assets 885.9m / Total Current Liabilities 413.8m)
Debt / Equity = 0.96 (Debt 686.6m / totalStockholderEquity, last quarter 718.2m)
Debt / EBITDA = 3.42 (Net Debt 500.3m / EBITDA 146.3m)
Debt / FCF = 5.95 (Net Debt 500.3m / FCF TTM 84.1m)
Total Stockholder Equity = 702.8m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.43% (Net Income 65.8m / Total Assets 1.92b)
RoE = 9.37% (Net Income TTM 65.8m / Total Stockholder Equity 702.8m)
RoCE = 5.64% (EBIT 74.4m / Capital Employed (Equity 702.8m + L.T.Debt 616.0m))
RoIC = 4.41% (NOPAT 59.3m / Invested Capital 1.35b)
WACC = 3.83% (E(664.7m)/V(1.35b) * Re(6.94%) + D(686.6m)/V(1.35b) * Rd(1.02%) * (1-Tc(0.20)))
Discount Rate = 6.94% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -100.0 | Cagr: -3.79%
[DCF Debug] Terminal Value 71.86% ; FCFE base≈102.3m ; Y1≈71.5m ; Y5≈37.1m
Fair Price DCF = 28.72 (DCF Value 715.0m / Shares Outstanding 24.9m; 5y FCF grow -35.28% → 3.0% )
EPS Correlation: 37.25 | EPS CAGR: 48.75% | SUE: -2.16 | # QB: 0
Revenue Correlation: -31.67 | Revenue CAGR: -0.47% | SUE: -0.08 | # QB: 0
EPS next Year (2026-12-31): EPS=3.32 | Chg30d=+0.075 | Revisions Net=+1 | Growth EPS=+6.8% | Growth Revenue=+5.4%