Zumtobel Group AG ZMTBY

IndustrialsMachinery, Tools, Heavy Vehicles, Trains & ShipsAustria

Last close 1.92 USD on Nov 2, 2026, −21.6% year to date

Quant rating

Quant rating C Rank 268 of 418 in Industrials

Growth D 320 of 418
Valuation C 198 of 418
Quality C 223 of 418
Revisions C 240 of 418
Momentum C 243 of 418

Wall Street consensus Buy (2.33)Average target 5.96 USD +210.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 183M
Enterprise value: 347M
52-week range: 1.92 – 2.53
3-year range: 1.92 – 3.28
Dividend yield: 4.58%
Beta (5 years): –
Shares outstanding: 43.1M
Next earnings: Dec 3, 2026

About the company

Zumtobel Group AG is an Austria-based company. The Company is engaged as a provider of lighting solutions, lighting components and the associated services. The Company operates through two segments: Lighting Segment and Components Segment. In the lighting segment, the Company produces hardware and software for lighting systems (LED light sources, LED drivers, sensors and light management). It offer services such as advice on intelligent lighting controls and emergency lighting systems, lighting contracting, design services, project management for turnkey lighting solutions as well as new, data-based services with a focus on connecting buildings and cities using light infrastructure, e.g. Real-time location of goods and people using Bluetooth Doppler direction finding. The Components segment includes industry (including logistics, halls, parking garages), office, education and healthcare (including hospitals, schools and universities) and retail (incl. Supermarkets, furniture stores).

Growth and profitability fiscal year ends April 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	1,220	1,243	1,202	1,333	1,210	–
Revenue growth	−1.8%	3.4%	−9.8%	10.1%	−3.6%	−0.6%
EPS (basic, normalized)	0.03	0.42	0.61	1.51	1.11	–
EPS growth	−91.9%	−31.2%	−59.3%	36.6%	–	–
Gross margin	37.8%	37.1%	35.5%	34.9%	33.2%	35.7%
Net margin	0.1%	1.4%	2.2%	4.9%	4.0%	2.5%
ROE	0.3%	3.7%	5.8%	14.9%	13.2%	7.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	63.3
Current ratio	1.47x
Long-term debt (mil)	186
Net debt (mil)	169
Total equity (mil)	492
Net debt / equity	0.34x
Net debt / EBITDA	1.53x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	1,220	−1.8%	0.3x	110	−8.5%	3.2x	0.03	−91.9%	55.9x
2027	1,185	−2.9%	0.3x	103	−5.9%	3.4x	0.42	+1,126.7%	4.6x
2028	1,212	+2.3%	0.3x	113	+8.7%	3.1x	0.59	+39.2%	3.3x
2029	1,244	+2.7%	0.3x	119	+5.8%	2.9x	0.70	+19.4%	2.7x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	1,185	0.0%	−0.1%	−3.9%	0.42	0.0%	−27.5%	−9.8%
2028	1,212	0.0%	0.0%	−2.9%	0.59	0.0%	−31.3%	−25.9%
2029	1,244	0.0%	−0.2%	−4.9%	0.70	0.0%	−25.9%	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	Jul 2024	FQ-7	Jan 2025	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	289	–	250	269	266	271	237	265	–
Sales mean (mil)	–	–	–	–	–	211	–	–	265	–
Surprise	–	–	–	–	–	+26.3%	–	–	0.0%	–
EPS reported	–	0.30	–	−0.13	–	–	–	–	–	–
EPS mean	–	–	–	–	–	−0.09	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

Peer comparison Machinery, Tools, Heavy Vehicles, Trains & Ships

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ZMTBY Zumtobel Group AG	183M	1.53x	0.1%	0.38x	4.6x	3.3x	3.4x	3.1x
TAYD Taylor Devices Inc	183M	−5.29x	20.6%	2.48x	19.6x	13.6x	11.6x	8.0x
INTT inTest Corp	179M	−4.01x	−2.2%	1.66x	29.9x	20.0x	14.9x	10.8x
HDSN Hudson Technologies Inc	178M	−1.44x	6.8%	0.73x	32.7x	16.2x	9.7x	7.8x
EML Eastern Company	172M	–	2.4%	1.32x	–	–	6.8x	–
GRID Tantalus Systems Holding Inc	170M	−5.44x	−1.8%	7.50x	−97.6x	99.3x	52.8x	29.2x
Mean		−2.93x	4.3%	2.35x	−2.2x	30.5x	16.5x	11.8x
Median		−4.01x	1.3%	1.49x	19.6x	16.2x	10.7x	8.0x

Technical analysis

1M0.0%
3M0.0%
1Y−21.6%
3Y−39.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Zumtobel Group AG, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	1,220	1,243	1,202	1,333	1,210	1,255
Cost of revenue	759	782	776	868	808	850
Gross profit	461	461	426	465	402	405
Selling, general & administrative expenses	446	446	402	369	338	337
Research & development	4.7	4.8	5.0	4.9	−4.4	3.6
Depreciation/amortization	21.7	20.5	18.8	18.5	20.6	22.5
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	22.7	15.8	0.1	–	0	2.1
Other operating expenses	−60.8	−64.4	−52.6	−20.5	−15.6	−12.2
Operating income	27.1	37.3	52.8	92.9	64.0	52.1
Net interest income (expense)	−10.0	−14.5	−10.6	−16.1	−10.9	−8.2
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−4.5	−4.6	−5.0	−4.0	−3.1	−3.0
Net income before taxes	12.6	18.2	37.2	72.8	50.1	40.9
Provision for taxes	11.4	0.7	10.9	6.7	1.8	−13.9
Minority interest	0.3	0	−0.1	−0.5	−0.2	−0.9
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	1.4	17.6	26.2	65.6	48.0	54.0
Extraordinary items	–	–	–	–	–	–
Net income	1.4	17.6	26.2	65.6	48.0	54.0
EBIT, normalized	50.3	53.4	53.1	92.9	64.0	54.2
EBITDA, normalized	113	114	113	154	122	132
Basic EPS, normalized	0.03	0.42	0.61	1.51	1.11	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Zumtobel Group AG, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	62.2	47.2	69.1	67.2	67.5	80.6
Receivables	203	198	194	201	174	188
Total inventory	196	200	192	214	225	190
Prepaid expenses	14.2	13.3	11.1	12.7	11.9	15.0
Other current assets	11.4	10.1	10.4	12.8	11.6	7.1
Total current assets	487	469	477	508	490	481
Property, plant & equipment	324	323	272	276	270	315
Goodwill	229	222	207	213	206	229
Intangibles	68.0	60.7	52.8	55.5	39.9	49.7
Long-term investments	3.8	4.6	5.7	5.9	9.9	10.2
Note receivable	–	–	–	–	–	–
Other long-term assets	37.2	41.7	38.3	46.1	44.6	48.9
Total assets	1,149	1,121	1,053	1,105	1,060	1,134
Liabilities
Accounts payable	111	106	113	106	127	142
Payable/accrued	–	–	–	–	–	–
Accrued expenses	91.0	89.1	81.6	72.5	115	126
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	31.6	28.3	102	40.2	36.3	32.9
Other current liabilities	105	122	113	146	92.4	101
Total current liabilities	339	345	409	365	371	402
Long-term debt	180	152	46.1	122	130	154
Minority interest	0.5	1.0	1.4	1.5	1.5	2.5
Other liabilities	137	143	144	152	155	207
Total liabilities	656	641	601	641	658	766
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	127	122	115	120	115	131
Additional paid-in capital	389	376	357	370	353	403
Retained earnings (accumulated deficit)	137	139	125	122	69.9	35.3
Treasury stock	–	–	–	–	–	–
Other equity	−159	−156	−145	−148	−136	−201
Total equity	494	480	452	463	402	368
Total liabilities & shareholders' equity	1,149	1,121	1,053	1,105	1,060	1,134

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Zumtobel Group AG, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	12.6	18.2	37.2	72.8	50.1	40.9
Depreciation, depletion & amortization	63.0	60.8	60.1	60.9	58.1	77.9
Deferred taxes	–	–	–	–	–	–
Non-cash items	21.3	18.9	15.6	20.8	21.2	20.2
Changes in working capital	−24.4	−16.0	−3.8	−37.5	−68.6	30.0
Cash from operations	72.5	81.9	109	117	60.7	169
Investing activities
Capital expenditures	−54.1	−61.4	−54.2	−60.0	−47.8	−45.8
Other investing cash flows	0.5	1.7	2.5	0.6	3.8	−3.1
Cash from investing	−53.6	−59.7	−51.7	−59.5	−44.0	−48.9
Financing activities
Financing cash flow items	−11.8	−12.2	−12.7	−8.2	−6.8	−8.2
Cash dividends paid	−7.4	−12.1	−18.4	−16.6	−9.1	−5.2
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	11.2	−18.6	−12.4	−33.7	−16.5	−111
Cash from financing	−8.1	−42.9	−43.4	−58.5	−32.4	−124
Foreign exchange effects	−0.3	−2.1	−2.1	−4.5	1.6	−1.9
Net change in cash	10.6	−22.8	11.9	−5.4	−14.1	−5.9
Free cash flow	18.4	20.5	54.9	57.0	13.0	123

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.