Announcement • Apr 27
FORIS AG, Annual General Meeting, Jun 11, 2026 FORIS AG, Annual General Meeting, Jun 11, 2026, at 12:00 W. Europe Standard Time. New Risk • Feb 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by earnings (268% payout ratio). Profit margins are more than 30% lower than last year (1.1% net profit margin). Market cap is less than US$100m (€14.4m market cap, or US$17.0m). Buy Or Sell Opportunity • Sep 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.9% to €3.82. The fair value is estimated to be €4.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to €4.14, the stock trades at a trailing P/E ratio of 73.3x. Average trailing P/E is 18x in the Diversified Financial industry in Germany. Total returns to shareholders of 61% over the past three years. New Risk • Aug 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.1% Last year net profit margin: 8.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (265% payout ratio). Profit margins are more than 30% lower than last year (1.1% net profit margin). Market cap is less than US$100m (€15.5m market cap, or US$18.0m). Buy Or Sell Opportunity • Aug 07
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to €3.38. The fair value is estimated to be €4.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €3.52, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 11x in the Diversified Financial industry in Germany. Total returns to shareholders of 35% over the past three years. Upcoming Dividend • Jun 07
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 13 June 2025. Payment date: 17 June 2025. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.3%). In line with average of industry peers (3.4%). New Risk • Apr 11
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 4.3% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€15.9m market cap, or US$18.0m). Reported Earnings • Apr 01
Full year 2024 earnings released: EPS: €0.63 (vs €0.23 in FY 2023) Full year 2024 results: EPS: €0.63 (up from €0.23 in FY 2023). Revenue: €30.4m (up 32% from FY 2023). Net income: €2.91m (up 168% from FY 2023). Profit margin: 9.6% (up from 4.7% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. New Risk • Mar 21
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (€16.6m market cap, or US$17.9m). Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €3.54, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 12x in the Diversified Financial industry in Germany. Total returns to shareholders of 26% over the past three years. New Risk • Jan 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (€13.7m market cap, or US$14.3m). Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €3.28, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 12x in the Diversified Financial industry in Germany. Total returns to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €2.72, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 12x in the Diversified Financial industry in Germany. Negligible returns to shareholders over past three years. New Risk • Jun 11
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.08m (US$9.75m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (€9.08m market cap, or US$9.75m). Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change). Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €1.91, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 12x in the Diversified Financial industry in Germany. Total loss to shareholders of 31% over the past three years. Reported Earnings • Apr 02
Full year 2023 earnings released: EPS: €0.23 (vs €0.033 in FY 2022) Full year 2023 results: EPS: €0.23 (up from €0.033 in FY 2022). Revenue: €23.4m (up 6.6% from FY 2022). Net income: €1.09m (up €936.0k from FY 2022). Profit margin: 4.7% (up from 0.7% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €1.29, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 11x in the Diversified Financial industry in Germany. Total loss to shareholders of 53% over the past three years. New Risk • Feb 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (28% accrual ratio). Market cap is less than US$10m (€7.04m market cap, or US$7.63m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (8.0% average weekly change). New Risk • Jan 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.81m (US$9.51m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (28% accrual ratio). Market cap is less than US$10m (€8.81m market cap, or US$9.51m). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €1.90, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 11x in the Diversified Financial industry in Germany. Total loss to shareholders of 39% over the past three years. New Risk • Jan 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Market cap is less than US$100m (€9.36m market cap, or US$10.2m). Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €2.28, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 12x in the Diversified Financial industry in Germany. Total loss to shareholders of 19% over the past three years. New Risk • Dec 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.22m (US$9.98m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (28% accrual ratio). Market cap is less than US$10m (€9.22m market cap, or US$9.98m). Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €2.04, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 12x in the Diversified Financial industry in Germany. Total loss to shareholders of 29% over the past three years. Reported Earnings • Apr 06
Full year 2022 earnings released: EPS: €0.03 (vs €0.38 loss in FY 2021) Full year 2022 results: EPS: €0.03 (up from €0.38 loss in FY 2021). Revenue: €22.2m (up 6.8% from FY 2021). Net income: €152.0k (up €1.93m from FY 2021). Profit margin: 0.7% (up from net loss in FY 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 04
Full year 2021 earnings released: €0.38 loss per share (vs €0.30 loss in FY 2020) Full year 2021 results: €0.38 loss per share (down from €0.30 loss in FY 2020). Revenue: €20.9m (up 23% from FY 2020). Net loss: €1.78m (loss widened 26% from FY 2020). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 05
New 90-day low: €2.78 The company is down 1.0% from its price of €2.82 on 04 December 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Diversified Financial industry, which is also down 1.0% over the same period. Is New 90 Day High Low • Jan 18
New 90-day high: €3.00 The company is up 3.0% from its price of €2.92 on 20 October 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is up 4.0% over the same period. Is New 90 Day High Low • Nov 13
New 90-day low: €2.76 The company is down 10.0% from its price of €3.06 on 14 August 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Diversified Financial industry, which is down 27% over the same period. Is New 90 Day High Low • Sep 26
New 90-day low: €2.86 The company is down 10.0% from its price of €3.18 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Diversified Financial industry, which is down 18% over the same period.