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1. Company Snapshot

1.a. Company Description

Bertrandt Aktiengesellschaft provides engineering services in Germany and internationally.The company operates through Digital Engineering, Physical Engineering, and Electrical Systems/Electronics segments.The Digital Engineering segments designs vehicle components for interior, exterior, powertrain, chassis, or body, as well as the development of complete vehicles, including numerical analysis.


The Physical Engineering segment combines all the activities related to the validation of physical parts, components, systems, powertrains, and the vehicle.This segment also offers validation services that include cover testing, road tests, modelling, vehicle structure, rapid prototyping, and rapid tooling services.The Electrical Systems/Electronics segment develops electronic modules, such as batteries, e- drivetrains, onboard networks, as well as provides software development, simulated deployment, and autonomous driving services.


It also engages in the testing, planning, project management, and CAD activities.The company serves automotive, aerospace, mechanical and plant engineering, electrical, energy, and medical engineering sectors.Bertrandt Aktiengesellschaft was founded in 1974 and is headquartered in Ehningen, Germany.

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1.b. Last Insights on BDT

Bertrandt Aktiengesellschaft's recent performance was marred by a significant decline in revenue, plummeting 14% year-over-year to €266.5 million in the first quarter of 2025. This precipitous drop was a stark contrast to the €312.5 million generated in the same period last year. The company's net loss of €0.36 per share, a far cry from the €0.78 profit recorded in the first quarter of 2024, underscores the severity of the downturn. Furthermore, the company's intrinsic value is estimated to be 92% above its current share price, according to a recent analysis, highlighting the disparity between the company's true worth and its market valuation.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.97%)

6. Segments

Digital Engineering

Expected Growth: 7%

Bertrandt's Digital Engineering segment growth is driven by increasing demand for electric and autonomous vehicles, rising need for digitalization in the automotive industry, and growing importance of software-driven innovation. Additionally, the company's strong partnerships with major OEMs and its expertise in areas like AI, AR, and IoT contribute to its 7% growth.

Electrical Systems / Electronics

Expected Growth: 5%

Bertrandt's Electrical Systems/Electronics segment growth is driven by increasing demand for electric vehicles, autonomous driving, and connectivity. OEMs' investments in electrification and digitalization, as well as growing need for safety and efficiency features, contribute to this growth. Additionally, Bertrandt's strong relationships with key customers and its expertise in system integration and software development support its market position.

Physical Engineering

Expected Growth: 5%

Bertrandt's Physical Engineering segment growth is driven by increasing demand for electric vehicles, autonomous driving, and connectivity, leading to higher R&D investments from automotive OEMs. Additionally, the company's expertise in simulation, testing, and validation supports the growth of the segment.

7. Detailed Products

Engineering Services

Bertrandt provides engineering services for the automotive, aerospace, and industrial sectors, including design, development, testing, and production of vehicles and systems.

Electronics and Electrification

Bertrandt offers solutions for the development of electronic systems, including electric motors, power electronics, and battery management systems.

Digitalization and IT

Bertrandt provides digitalization and IT services, including software development, data analytics, and cybersecurity solutions.

Testing and Validation

Bertrandt offers testing and validation services for vehicles, systems, and components, including durability testing, crash testing, and environmental testing.

Consulting and Strategy

Bertrandt provides consulting and strategy services for the automotive, aerospace, and industrial sectors, including market analysis, technology scouting, and innovation management.

8. Bertrandt Aktiengesellschaft's Porter Forces

Forces Ranking

Threat Of Substitutes

Bertrandt Aktiengesellschaft's products and services are moderately susceptible to substitutes, as customers have some alternatives but are still loyal to the brand.

Bargaining Power Of Customers

Bertrandt Aktiengesellschaft's customers have limited bargaining power due to the company's strong brand reputation and diversified product offerings.

Bargaining Power Of Suppliers

Bertrandt Aktiengesellschaft's suppliers have moderate bargaining power, as the company relies on a few key suppliers but has some flexibility in its supply chain.

Threat Of New Entrants

The automotive industry is highly competitive, and new entrants can easily disrupt the market, posing a significant threat to Bertrandt Aktiengesellschaft's market share.

Intensity Of Rivalry

The automotive industry is highly competitive, with many established players, leading to intense rivalry among companies, including Bertrandt Aktiengesellschaft.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 40.90%
Debt Cost 4.23%
Equity Weight 59.10%
Equity Cost 9.99%
WACC 7.63%
Leverage 69.21%

11. Quality Control: Bertrandt Aktiengesellschaft passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Relais

A-Score: 6.0/10

Value: 5.4

Growth: 8.9

Quality: 4.7

Yield: 5.6

Momentum: 5.5

Volatility: 6.0

1-Year Total Return ->

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Autoneum

A-Score: 5.7/10

Value: 7.1

Growth: 4.4

Quality: 4.4

Yield: 2.5

Momentum: 8.0

Volatility: 7.7

1-Year Total Return ->

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AB Dynamics

A-Score: 5.1/10

Value: 3.5

Growth: 8.0

Quality: 7.0

Yield: 5.0

Momentum: 0.5

Volatility: 6.7

1-Year Total Return ->

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Inter Cars

A-Score: 5.0/10

Value: 6.1

Growth: 7.7

Quality: 3.8

Yield: 0.0

Momentum: 6.0

Volatility: 6.7

1-Year Total Return ->

View Full Report
Stock-Card
Bertrandt

A-Score: 4.3/10

Value: 9.8

Growth: 2.6

Quality: 5.3

Yield: 2.5

Momentum: 3.0

Volatility: 2.3

1-Year Total Return ->

View Full Report
Stock-Card
TI Fluid Systems

A-Score: 4.0/10

Value: 5.9

Growth: 4.0

Quality: 2.2

Yield: 1.2

Momentum: 6.0

Volatility: 4.7

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

17.84$

Current Price

17.84$

Potential

-0.00%

Expected Cash-Flows