Nordex NDX1.DE
GermanyIndustrials · Specialty Industrial MachineryXetra · EUR
49.39 EUR (+39.2%)
15 analysts
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Nordex SE is a German wind turbine manufacturer that designs, produces, installs, and maintains onshore wind turbines for the global renewable energy market.
Listed on Xetra · Symbol NDX1.DE · ETR: NDX1 · Currency EUR
Key points
from its scores- ✓Good share-price trend9.3
- ✓Strong growth8.3
- ✓High-quality business7.6
- ✕Little or no dividend1.5
- !Risks to watch5.9
AI analysis
bottom line, main risk, context and newsHold or accumulate on pullbacks, watching the sustainability of earnings growth and order trends in a cyclical sector.
Nordex shows solid financial health with net cash (ND/EBITDA of -1.84) and exceptional profitability (ROE 32.36%, ROIC 34.90%), although 246% earnings growth suggests a possible cyclical peak that may not be sustainable; valuation is reasonable (forward P/E 14.19) and momentum is very strong (64.08% over 12 months).
The main risk is a potential reversal of the wind cycle: 246% earnings growth may not be sustainable if wind turbine demand cools or competition pressures margins (current operating margin of 8.52%).
Context and risks
No recent relevant news or specific regulatory/geopolitical exposure beyond Germany's standard governance risk. The wind turbine business does not critically depend on shipping routes or dollar-denominated commodities.
Is Nordex stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 27% below the Industrials median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 21.6 | 25.4 | −15% |
| EV / EBITDA | 8.7 | 14.5 | −40% |
| Price / book | 5.8 | 4.1 | +43% |
| Price / sales | 1.0 | 2.1 | −49% |
Sector: median of the 388 Industrials companies analysed. In bold, the multiples used for the comparison.
Valuation score: 6.7 out of 10 (median for Industrials: 5.0).
Average analyst target: 49.39 EUR, +39.2% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 7.4 (sector 6.4), Growth 8.3 (sector 6.6).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Industrials medianValuation
- P/E
- 21.6
- Forward P/E
- 14.2
- EV / EBITDA
- 8.7
- Price / book
- 5.8
- Price / sales
- 1.0
- PEG
- 1.50
- Market cap
- 8.4B EUR
- Enterprise value
- 6.9B EUR
Profitability
- ROE
- 32.4%
- ROA
- 6.9%
- ROIC (approx.)
- 34.9%
- Gross margin
- 27.4%
- Operating margin
- 8.5%
- Net margin
- 5.0%
- Free cash flow
- 450.6M EUR
- FCF yield
- 5.4%
- Cash conversion
- 57%
Solvency
- Total debt
- 502.3M EUR
- Net debt
- −1.5B EUR
- Cash
- 2.0B EUR
- EBITDA
- 796.9M EUR
- Net debt / EBITDA
- −1.84
- Debt / equity
- 34.45
- Current ratio
- 1.18
- Quick ratio
- 0.90
Growth
- Revenue growth
- +16.3%
- Earnings growth
- +246.4%
- EPS (TTM)
- 1.64 EUR
- EPS (forward)
- 2.50 EUR
Dividend
- Dividend yield
- 0.0%
- Payout
- 0.0%
Risk and market
- Beta
- 1.12
- Analyst consensus
- Buy (15)
- Target price
- 49.39 EUR
- 52-week range
- 21.86 – 51.70
Recent news
All NDX1.DE news →Compare it with its sector
All 388 in Industrials →Frequently asked questions about Nordex
Is Nordex stock cheap or expensive?
On P/E and EV / EBITDA, it trades 27% below the Industrials median on average. Valuation score: 6.7 out of 10 (median for Industrials: 5.0). Average analyst target: 49.39 EUR, +39.2% versus the price. This is not investment advice.
What score does Nordex get on MeridIAn Screener?
It scores 6.8 out of 10, rank 335 of 2,130 (better than 83% of the companies analysed). Its strongest category is Momentum (9.3) and its weakest, Dividend (1.5). Analysis of 08/10/2026.
What is Nordex's P/E ratio?
Its P/E is 21.6: the share price equals 21.6 times earnings per share over the last 12 months. The Industrials median is 25.4. Based on the earnings analysts expect, the forward P/E is 14.2.
How much is Nordex worth on the stock market?
Its market capitalisation is 8.4B EUR and its enterprise value, debt included, is 6.9B EUR.
How much debt does Nordex have?
It has more cash than debt: net cash of 1.5B EUR.
Does Nordex pay a dividend?
It pays no dividend, or almost none.
How has Nordex stock performed over the last year?
It has risen 47.8% over the last year, excluding dividends. Over the last 52 weeks it has traded between 21.86 and 51.70 EUR. Past performance does not guarantee future results.
What do analysts think of Nordex?
15 analysts cover it; their average recommendation is “Buy” and their average target is 49.39 EUR (+39.2% versus the price). It is an estimate, not market data.