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1. Company Snapshot

1.a. Company Description

Dürr Aktiengesellschaft, together with its subsidiaries, operates as a mechanical and plant engineering company worldwide.The company's Paint and Final Assembly Systems segment plans, builds, and updates paint shops and final assembly lines for the automotive industry.It also provides products and systems for various process stages in paint shop technology; supply control and conveyor systems, as well as air supply and exhaust-air systems; DXQ software family, which includes solutions for plant monitoring, manufacturing execution systems, advanced analytics, and other digital solutions; conveyor technology, filling, and testing technology, as well as assembly technology and marriage stations for connecting the car body and power train; consulting services; assembly and test systems for medical devices; test benches for electric and hybrid drives; and injection systems and inhalation devices.


The company's Application Technology segment offers technologies for the automated spray application of primers, and base and clear coats; and systems used for paint supply, quality assurance, and process control and evaluation; sealing technology for sealing seams; and glueing technology.The company's Clean Technology Systems segment offers exhaust-air purification systems, battery electrode coating systems, and noise abatement systems, as well as ORC technology and services.Its Measuring and Process Systems segment provides balancing and diagnostic systems; and filling technology for air conditioning systems and household appliances.


The company's Woodworking Machinery and Systems segment offers woodworking machinery and systems, such as panel dividing saws, through-feed saws and drilling machines, sanders, edge-banding machines, CNC processing centers, and handling and storage systems.Dürr Aktiengesellschaft was founded in 1895 and is headquartered in Bietigheim-Bissingen, Germany.

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1.b. Last Insights on DUE

Dürr Aktiengesellschaft's recent performance was driven by a record order intake in Q4 2024, as reported on March 7, 2025. The company's strong cash flow and operational improvements are positive indicators for future growth. Additionally, Duerr AG's strategic restructuring efforts aim to address challenges with net income and future guidance amid economic uncertainties. A share buyback program, which was announced as part of the restructuring efforts, is also a positive development for shareholders.

1.c. Company Highlights

2. Dürr's Earnings Report: A Year of Transformation and Growth

Dürr's financial performance in 2025 was marked by significant improvements in operating earnings, with a 19% increase driven by a strong second half, particularly in the HOMAG and Automotive divisions. The company's net profit reached EUR 206 million, benefiting from the good operating performance and a high book profit from the sale of the environmental technology business. Earnings Per Share (EPS) came in at 3.7, significantly beating estimates of -0.26863. The EBIT margin before extraordinaries improved by 100 basis points to 5.6%, exceeding the target corridor of 4.5% to 5.5%. Revenues for the year were not explicitly stated, but the stage is set for growth in 2026, with analysts estimating a 4.7% increase.

Publication Date: Mar -08

📋 Highlights
  • Environmental Technology Sale Gain:: Dürr recorded a EUR 227 million post-tax book gain from selling the noncore environmental technology business.
  • EBIT Margin Improvement:: Operating performance improved by 100 basis points, reaching 5.6% (exceeding the 4.5-5.5% target corridor).
  • Net Profit Boost:: Net profit surged to EUR 206 million, driven by strong operating results and the environmental technology sale.
  • Free Cash Flow Exceeds Target:: Free cash flow hit EUR 162 million, surpassing the EUR 50 million target due to high prepayments and lower investments.
  • 2026 EBIT Margin Guidance:: EBIT margin before extraordinaries targets up to 6.5%, reflecting improved operating efficiency and strategic focus.

Operational Highlights

The company's operational performance was driven by the successful simplification of its group structure and the sale of its non-core environmental technology business. The disposal generated a EUR 227 million post-tax book gain, significantly contributing to the bottom line. Dürr's focus on automation and sustainable production is paying off, with the two largest divisions, Automotive and Woodworking, showing improved earnings resilience despite an adverse environment. As Jochen Weyrauch highlighted, "Dürr has transformed into a leaner group with 3 divisions, focusing on automation and sustainable production."

Valuation Metrics

To understand what's priced into Dürr's stock, we can look at several valuation metrics. The current P/E Ratio stands at 6.93, indicating a relatively low valuation compared to its earnings. The P/B Ratio is 1.31, suggesting the stock is trading slightly above its book value. The EV/EBITDA ratio is 4.29, a reasonable multiple given the company's operational performance. Additionally, the Dividend Yield is 3.48%, and the Free Cash Flow Yield is 20.22%, making it an attractive option for income investors. The ROIC is 8.31%, and ROE is 17.73%, both indicating a good return on capital and equity, respectively.

Outlook and Guidance

Dürr's outlook for 2026 is cautiously optimistic, with expectations of a solid pipeline in Automotive but a challenging year for Industrial Automation and Woodworking. The company guides for an EBIT margin before extraordinaries of up to 6.5% and a free cash flow ranging from EUR 150 million minus to EUR 0 million. The guidance also includes the possibility of declining new orders and sales, as well as a one-time burden of around EUR 10 million at HOMAG for the transition to a new ERP system. Despite these challenges, Dürr is well-positioned for future growth, with a solid balance sheet and ongoing initiatives to improve efficiency and operating excellence.

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 (3.93%)

6. Segments

Woodworking Machinery and Systems

Expected Growth: 3.5%

Dürr's woodworking machinery and systems segment growth is driven by increasing demand for automation and digitalization in the woodworking industry, fueled by rising labor costs and a shortage of skilled workers. Additionally, growing trends in sustainable and eco-friendly furniture production, as well as increasing investments in the construction and furniture industries, contribute to the 3.5% growth rate.

Paint and Final Assembly Systems

Expected Growth: 3.8%

The 3.8% growth of Paint and Final Assembly Systems from Dürr Aktiengesellschaft is driven by increasing demand for eco-friendly and sustainable painting technologies, rising adoption of Industry 4.0 solutions, and growing investments in electric vehicle production lines, particularly in Asia and Europe.

Application Technology

Expected Growth: 4.2%

Dürr's Application Technology segment growth of 4.2% is driven by increasing demand for sustainable and efficient paint application systems, particularly in the electric vehicle market. Additionally, the segment benefits from its diversified customer base, including major automotive OEMs and tier-1 suppliers, as well as its strong presence in emerging markets.

Industrial Automation Systems

Expected Growth: 4.5%

Dürr's Industrial Automation Systems' 4.5% growth is driven by increasing demand for efficient production processes, adoption of Industry 4.0 technologies, and rising need for quality and precision in manufacturing. Additionally, growing investments in electric vehicle production and renewable energy infrastructure are boosting demand for automation solutions.

Clean Technology Systems

Expected Growth: 4.8%

Dürr's Clean Technology Systems segment growth is driven by increasing demand for sustainable production processes, stringent environmental regulations, and rising adoption of Industry 4.0 technologies. Additionally, the growing need for energy-efficient solutions, expanding electric vehicle market, and investments in renewable energy sources contribute to the 4.8% growth rate.

Reconciliation

Expected Growth: 3.2%

Dürr Aktiengesellschaft's 3.2% growth is driven by increasing demand for industrial automation, expansion in emerging markets, and strategic acquisitions. The company's focus on digitalization, electrification, and sustainable production solutions also contributes to its growth. Additionally, its diversified customer base across various industries, such as automotive, aerospace, and woodworking, provides a stable revenue stream.

7. Detailed Products

Paint and Final Assembly Systems

Dürr provides paint and final assembly systems for the automotive industry, including paint shops, paint booths, and final assembly lines.

Application Technology

Dürr's application technology segment offers a range of products and services for the application of paints, coatings, and adhesives.

Clean Technology Systems

Dürr's clean technology systems provide solutions for air pollution control, noise reduction, and energy efficiency.

Measuring and Process Systems

Dürr's measuring and process systems provide solutions for quality control, process optimization, and data analysis.

Woodworking Machinery

Dürr's woodworking machinery segment offers a range of products and services for the woodworking industry.

8. Dürr Aktiengesellschaft's Porter Forces

Forces Ranking

Threat Of Substitutes

Dürr Aktiengesellschaft's products are specialized and customized, making it difficult for substitutes to emerge.

Bargaining Power Of Customers

Dürr Aktiengesellschaft's customers are largely dependent on the company's products and services, giving them limited bargaining power.

Bargaining Power Of Suppliers

Dürr Aktiengesellschaft has a diverse supplier base, but some suppliers have significant bargaining power due to their size and market share.

Threat Of New Entrants

The capital requirements and technological expertise needed to enter the industry are high, making it difficult for new entrants to emerge.

Intensity Of Rivalry

The industry is highly competitive, with several established players competing for market share, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 55.71%
Debt Cost 5.47%
Equity Weight 44.29%
Equity Cost 12.04%
WACC 8.38%
Leverage 125.76%

11. Quality Control: Dürr 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
Meier Tobler

A-Score: 5.9/10

Value: 3.9

Growth: 5.9

Quality: 5.5

Yield: 6.9

Momentum: 9.0

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
Aumann

A-Score: 5.4/10

Value: 7.9

Growth: 7.7

Quality: 6.4

Yield: 1.2

Momentum: 6.0

Volatility: 3.0

1-Year Total Return ->

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Stock-Card
MAX Automation

A-Score: 4.6/10

Value: 5.8

Growth: 4.4

Quality: 4.1

Yield: 0.0

Momentum: 7.0

Volatility: 6.3

1-Year Total Return ->

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Stock-Card
Dürr

A-Score: 4.4/10

Value: 8.3

Growth: 4.2

Quality: 2.4

Yield: 3.8

Momentum: 2.5

Volatility: 5.0

1-Year Total Return ->

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Stock-Card
Concentric

A-Score: 4.1/10

Value: 3.5

Growth: 7.2

Quality: 6.8

Yield: 2.5

Momentum: 4.0

Volatility: 0.7

1-Year Total Return ->

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Stock-Card
Nilfisk

A-Score: 2.9/10

Value: 7.5

Growth: 3.3

Quality: 1.8

Yield: 0.0

Momentum: 3.0

Volatility: 2.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

19.88$

Current Price

19.88$

Potential

-0.00%

Expected Cash-Flows