NORMA Group Future Growth
Future criteria checks 3/6
NORMA Group is forecast to grow earnings and revenue by 32.7% and 3.5% per annum respectively. EPS is expected to grow by 86% per annum. Return on equity is forecast to be 4.3% in 3 years.
Key information
32.7%
Earnings growth rate
85.97%
EPS growth rate
| Machinery earnings growth | 21.9% |
| Revenue growth rate | 3.5% |
| Future return on equity | 4.30% |
| Analyst coverage | Good |
| Last updated | 02 Jul 2026 |
Recent future growth updates
Analysis Article • Nov 07
NORMA Group SE Just Missed Revenue By 16%: Here's What Analysts Think Will Happen Next
NORMA Group SE ( ETR:NOEJ ) shareholders are probably feeling a little disappointed, since its shares fell 8.0% to...Analysis Article • Aug 15
Results: NORMA Group SE Confounded Analyst Expectations With A Surprise Profit
XTRA:NOEJ 1 Year Share Price vs Fair Value Explore NORMA Group's Fair Values from the Community and select yours...Recent updates
Narrative Update • Jun 13
NOEJ: Weak Margin Outlook Will Likely Pressure Shares Despite Buyback
Analysts have reset their price target on NORMA Group to €13.00. The latest work reflects updated views on the discount rate, revenue growth, profit margins and a lower assumed future P/E multiple.Narrative Update • May 30
NOEJ: Weak Profitability Outlook Will Likely Pressure Shares Despite Buyback
Analysts have revised their fair value estimate for NORMA Group to €13.00 from €15.00, reflecting updated assumptions around revenue growth, profit margins and a higher future P/E multiple. What's in the News NORMA Group confirmed its earnings guidance for 2026 and continues to expect sales growth of approximately 0 to 2% for the financial year (Corporate guidance).
Narrative Update • May 07
NOEJ: Share Buybacks And Lower Discount Rate Will Support Future Upside
Analysts have raised their fair value price target for NORMA Group from €20.00 to €23.00, citing updated assumptions for discount rates, revenue growth, profit margins and future P/E levels. What's in the News NORMA Group SE launched a share repurchase program authorized by shareholders to buy back up to 10% of its issued share capital, with the mandate valid until May 12, 2030 (Key Developments).Narrative Update • Apr 22
NOEJ: Share Buybacks Will Support Future Upside Despite Lower Margin Assumptions
Analysts have kept their €20.0 price target for NORMA Group unchanged, as a slightly higher discount rate, revised expectations for revenue growth and profit margin, and a substantially higher future P/E assumption balance out in their updated view. What's in the News NORMA Group SE plans to commence a share repurchase program on February 27, 2026, under an existing shareholder mandate that authorizes buybacks of up to 10% of issued share capital, with the authorization running until May 12, 2030 (company announcement).
Narrative Update • Apr 07
NOEJ: Share Repurchase And Dividend Policy Will Support Share Price Recovery
Analysts have adjusted their price target for NORMA Group to €17.03 from €16.39, citing updated views on revenue growth expectations, profit margins, and an implied future P/E of about 51.71x. What's in the News NORMA Group SE plans to commence a share repurchase program on February 27, 2026, under an existing mandate that allows buybacks of up to 10% of its issued share capital.Narrative Update • Mar 24
NOEJ: Higher Price Outlook Will Balance Weaker Margins And Earnings Multiple Assumptions
Analysts have raised their price target for NORMA Group from €7.90 to €15.00, citing updated assumptions about fair value, the discount rate, revenue growth, profit margin and future P/E multiples. Valuation Changes Fair Value: price target raised from €7.90 to €15.00, close to a 2x level compared with the prior estimate.Narrative Update • Mar 10
NOEJ: Higher Margins And Lower Future P/E Will Support Upside
Analysts have kept their €20.00 price target for NORMA Group unchanged, citing only minor adjustments in the discount rate, revenue growth, profit margin and future P/E assumptions as the reasons for maintaining their view. Valuation Changes Fair Value: Unchanged at €20.00 per share, indicating no revision to the central valuation level.Narrative Update • Feb 24
NOEJ: Wider Margins And Lower P/E Will Support Future Upside
Analysts have kept their €20.00 price target for NORMA Group unchanged, citing only slight adjustments in the discount rate, expected revenue trend, profit margin assumptions and forward P/E as the basis for maintaining their view. Valuation Changes Fair Value: €20.00 remains unchanged, with no adjustment to the overall valuation anchor.Narrative Update • Feb 09
NOEJ: Improved Margin Outlook Will Support Stronger Future Share Performance
Analysts have kept NORMA Group's fair value estimate steady at €20.00 per share, with only small tweaks to assumptions around the discount rate, revenue trends, profit margin and future P/E feeding into this unchanged price target. Valuation Changes Fair Value Estimate remains unchanged at €20.00 per share, reflecting offsetting adjustments in the model inputs.Analysis Article • Jan 28
NORMA Group SE's (ETR:NOEJ) Popularity With Investors Is Under Threat From Overpricing
It's not a stretch to say that NORMA Group SE's ( ETR:NOEJ ) price-to-sales (or "P/S") ratio of 0.4x right now seems...Narrative Update • Jan 26
NOEJ: 2025 Revenue Guidance And Margin Outlook Will Support Stronger Share Performance
Analysts have adjusted their price target for NORMA Group from €21.00 to €20.00, citing updated assumptions that include a slightly different discount rate, modest changes to expected revenue trends and profit margins, as well as a lower future P/E multiple. What's in the News NORMA Group SE issued revenue guidance for 2025, with expected sales in a range of approximately €810 million to €830 million.Narrative Update • Jan 11
NOEJ: Steady Fair Value And 2025 Guidance Will Support Stronger Share Performance
Analysts have kept their fair value estimate for NORMA Group steady at €21.00, with only small tweaks to the discount rate, revenue and margin assumptions, and a slightly lower future P/E. This reflects modestly adjusted expectations rather than a major shift in their outlook.Narrative Update • Dec 24
NOEJ: Higher Future Earnings Multiple Will Support Stronger Share Performance
Analysts have revised their price target on NORMA Group down by approximately €6.00 to reflect a higher perceived discount rate, a sharp downgrade in expected revenue growth, and a modestly weaker but still stable profit margin profile, partially offset by a higher assumed future P/E multiple. What's in the News NORMA Group issued new revenue guidance for 2025, targeting sales between approximately EUR 810 million and EUR 830 million (company guidance).Narrative Update • Dec 10
NOEJ: Future Margin Resilience Will Support Share Price Recovery
Analysts have nudged their price target on NORMA Group slightly higher to €16.39. This reflects modest improvements in discount rate assumptions and profit margin expectations, while keeping the overall valuation framework largely unchanged.Narrative Update • Nov 26
NOEJ: Future Sales Outlook Will Drive Price Appreciation Despite Recent Setbacks
Analysts have lowered their fair value estimate for NORMA Group from €18.70 to €16.39, citing recent declines in projected revenue growth and profit margin as key drivers for the adjustment. What's in the News NORMA Group SE issued new revenue guidance for 2025, projecting sales to be between approximately EUR 810 million and EUR 830 million.Analysis Article • Nov 07
NORMA Group SE Just Missed Revenue By 16%: Here's What Analysts Think Will Happen Next
NORMA Group SE ( ETR:NOEJ ) shareholders are probably feeling a little disappointed, since its shares fell 8.0% to...Narrative Update • Sep 20
Manufacturing Consolidation And Electrification Will Reshape Industry Landscapes
The slight increase in NORMA Group’s future P/E ratio alongside a modest reduction in the discount rate suggests improved earnings expectations and lower perceived risk, supporting the consensus analyst price target upgrade from €17.84 to €18.70. What's in the News NORMA Group secured a EUR 14 million contract to supply eM Safe quick connectors for a new US EV platform, equipping up to 90,000 vehicles annually from 2027 to 2034.Analysis Article • Aug 15
Results: NORMA Group SE Confounded Analyst Expectations With A Surprise Profit
XTRA:NOEJ 1 Year Share Price vs Fair Value Explore NORMA Group's Fair Values from the Community and select yours...Analysis Article • Aug 09
These 4 Measures Indicate That NORMA Group (ETR:NOEJ) Is Using Debt Extensively
XTRA:NOEJ 1 Year Share Price vs Fair Value Explore NORMA Group's Fair Values from the Community and select yours The...Analysis Article • Jul 09
Subdued Growth No Barrier To NORMA Group SE's (ETR:NOEJ) Price
There wouldn't be many who think NORMA Group SE's ( ETR:NOEJ ) price-to-sales (or "P/S") ratio of 0.4x is worth a...Analysis Article • Apr 03
The Price Is Right For NORMA Group SE (ETR:NOEJ) Even After Diving 26%
NORMA Group SE ( ETR:NOEJ ) shareholders that were waiting for something to happen have been dealt a blow with a 26...
New Narrative • Feb 23
Efficiency Initiatives Like The Step Up Program Will Improve Future Productivity
Step Up program initiatives are boosting operational efficiency and potentially improving future margins and earnings through widespread implementation.Analysis Article • Feb 22
Is NORMA Group SE (ETR:NOEJ) Trading At A 23% Discount?
Key Insights The projected fair value for NORMA Group is €19.72 based on 2 Stage Free Cash Flow to Equity NORMA Group...Analysis Article • Dec 07
After Leaping 28% NORMA Group SE (ETR:NOEJ) Shares Are Not Flying Under The Radar
NORMA Group SE ( ETR:NOEJ ) shares have had a really impressive month, gaining 28% after a shaky period beforehand...Analysis Article • Nov 30
NORMA Group's (ETR:NOEJ) Returns On Capital Tell Us There Is Reason To Feel Uneasy
When it comes to investing, there are some useful financial metrics that can warn us when a business is potentially in...Analysis Article • Aug 07
NORMA Group SE (ETR:NOEJ) Shares Could Be 47% Below Their Intrinsic Value Estimate
Key Insights The projected fair value for NORMA Group is €29.70 based on 2 Stage Free Cash Flow to Equity NORMA Group's...Analysis Article • Jun 16
Some Investors May Be Worried About NORMA Group's (ETR:NOEJ) Returns On Capital
What financial metrics can indicate to us that a company is maturing or even in decline? A business that's potentially...Analysis Article • Mar 28
Does NORMA Group (ETR:NOEJ) Have A Healthy Balance Sheet?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Mar 08
NORMA Group's (ETR:NOEJ) Returns On Capital Tell Us There Is Reason To Feel Uneasy
What financial metrics can indicate to us that a company is maturing or even in decline? Businesses in decline often...Analysis Article • May 26
NORMA Group (ETR:NOEJ) Could Be Struggling To Allocate Capital
If we're looking to avoid a business that is in decline, what are the trends that can warn us ahead of time? A business...Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 892 | 26 | 23 | 73 | 4 |
| 12/31/2027 | 865 | 14 | 13 | 52 | 6 |
| 12/31/2026 | 829 | 193 | -381 | 116 | 6 |
| 3/31/2026 | 813 | -99 | 29 | 69 | N/A |
| 12/31/2025 | 825 | -109 | 47 | 90 | N/A |
| 9/30/2025 | 1,117 | -54 | 54 | 103 | N/A |
| 6/30/2025 | 1,126 | 2 | 69 | 119 | N/A |
| 3/31/2025 | 800 | -33 | 87 | 142 | N/A |
| 12/31/2024 | 887 | -15 | 82 | 137 | N/A |
| 9/30/2024 | 967 | -5 | 118 | 168 | N/A |
| 6/30/2024 | 1,058 | -1 | 121 | 173 | N/A |
| 3/31/2024 | 1,220 | 29 | 103 | 156 | N/A |
| 12/31/2023 | 1,226 | 28 | 58 | 119 | N/A |
| 9/30/2023 | 1,241 | 28 | 37 | 99 | N/A |
| 6/30/2023 | 1,263 | 31 | -3 | 62 | N/A |
| 3/31/2023 | 1,256 | 30 | -7 | 56 | N/A |
| 12/31/2022 | 1,246 | 39 | 22 | 77 | N/A |
| 9/30/2022 | 1,202 | 41 | -2 | 50 | N/A |
| 6/30/2022 | 1,149 | 42 | 29 | 74 | N/A |
| 3/31/2022 | 1,113 | 52 | 39 | 83 | N/A |
| 12/31/2021 | 1,095 | 56 | 62 | 108 | N/A |
| 9/30/2021 | 1,098 | 62 | 72 | 123 | N/A |
| 6/30/2021 | 1,078 | 63 | 91 | 136 | N/A |
| 3/31/2021 | 989 | 15 | 91 | 132 | N/A |
| 12/31/2020 | 956 | 6 | 94 | 134 | N/A |
| 9/30/2020 | 956 | 2 | 110 | 151 | N/A |
| 6/30/2020 | 985 | 7 | 93 | 139 | N/A |
| 3/31/2020 | 1,083 | 50 | 86 | 137 | N/A |
| 12/31/2019 | 1,105 | 58 | N/A | 137 | N/A |
| 9/30/2019 | 1,111 | 74 | N/A | 148 | N/A |
| 6/30/2019 | 1,106 | 79 | N/A | 140 | N/A |
| 3/31/2019 | 1,093 | 86 | N/A | 147 | N/A |
| 12/31/2018 | 1,089 | 92 | N/A | 131 | N/A |
| 9/30/2018 | 1,076 | 122 | N/A | 127 | N/A |
| 6/30/2018 | 1,051 | 120 | N/A | 131 | N/A |
| 3/31/2018 | 1,039 | 122 | N/A | 131 | N/A |
| 12/31/2017 | 1,021 | 120 | N/A | 146 | N/A |
| 9/30/2017 | 982 | 81 | N/A | 130 | N/A |
| 6/30/2017 | 955 | 82 | N/A | 130 | N/A |
| 3/31/2017 | 926 | 79 | N/A | 139 | N/A |
| 12/31/2016 | 898 | 76 | N/A | 149 | N/A |
| 9/30/2016 | 900 | 79 | N/A | 128 | N/A |
| 6/30/2016 | 901 | 77 | N/A | 137 | N/A |
| 3/31/2016 | 898 | 75 | N/A | 137 | N/A |
| 12/31/2015 | 892 | 74 | N/A | 128 | N/A |
| 9/30/2015 | 853 | 67 | N/A | 135 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: NOEJ is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).
Earnings vs Market: NOEJ is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: NOEJ is expected to become profitable in the next 3 years.
Revenue vs Market: NOEJ's revenue (3.5% per year) is forecast to grow slower than the German market (6.7% per year).
High Growth Revenue: NOEJ's revenue (3.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: NOEJ's Return on Equity is forecast to be low in 3 years time (4.3%).
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/09 01:03 |
| End of Day Share Price | 2026/07/09 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
NORMA Group SE is covered by 20 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Volker Bosse | Baader Helvea Equity Research |
| Yasmin Steilen | Berenberg |
| Gerhard Orgonas | BNP Paribas |