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CSG N.V. (CSG.AS)

EUR13.69 -0.37 (-2.60%)
CZ AMS Industrials Aerospace & Defense
Address U Rustonky 714/1 186 00
Prague, CZ
CEO Michal Strnad
IPO 2026-01-21
ISIN NL0015073TS8

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Description

Established in 1995 and headquartered in Prague, Czech Republic, CSG N.V. is a defense manufacturer and distributor operating globally, with significant presence across Europe, the United States, and the Asia-Pacific region. The company organizes its extensive operations into two primary divisions: CSG Defence Systems and CSG Ammo+. The CSG Defence Systems division is dedicated to the development, production, sales, and ongoing support and maintenance of military and defense equipment for a diverse clientele, including national governments and private entities. Its comprehensive product range features various medium and large-calibre ammunition, such as 155mm artillery rounds, tank shells, rockets, mortar bombs, and assorted medium-calibre cartridges. This segment also provides robust land systems, which comprise wheeled and tracked military vehicles, heavy-duty off-road trucks, and integrated weapon platforms. Additionally, it supplies advanced defense electronics, including specialized hardware, software, and services like military radars for ground vehicles and air defense, surveillance radar systems, and air traffic control solutions. A key focus within this division's advanced systems unit is the engineering of turbojet engines for unmanned aerial vehicles (UAVs) and missiles. In contrast, the CSG Ammo+ segment concentrates solely on small-calibre ammunition. It delivers cartridges for pistols, revolvers, rifles, and shotguns, catering to the needs of civilian users, law enforcement agencies, and military personnel worldwide. CSG N.V. functions as a subsidiary of CSG FIN a.s.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
EUR13.69 -0.37 (-2.60%)
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Volume Profile
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Liquidity & share structure
Average Volume
1M
Beta
0.60
Float Shares
152.17M
Free Float %
15.2%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-0.95% -3.63% -2.39% -43.52% -28.10% -28.10% -28.10% -28.10% -28.10% -28.10% -28.10%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
13.69
DCF (Levered) 39.45 +188.1%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 91% Bullish
Rating 2026-05 Change
Strong Buy 4 0
Buy 6 +1
Hold 1 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
3.55
Safe zone
Piotroski F-Score
4 / 9
Average
MOAT Score
6 / 10
Developing
Composite Rating
C
Overall Score
2 / 5
Medium
DCF Score
5 / 5
High
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
1 / 5
Low
P/E Score
1 / 5
Low
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers ★ Strong MOAT
  • Revenue growth Aerospace & Defense: +15.4%
    +198.8% Q2'25: +319.5% (vs Q2'23)
  • EPS growth Aerospace & Defense: +32.2%
    +223.5%
  • FCF margin FCF growth · Aerospace & Defense: +45.0%
    +12.3% Q2'25: -23.4% (vs Q2'23)
  • EBIT margin Aerospace & Defense: +9.2%
    +27.1% Q2'25: +25.8% (vs Q2'23)
  • ROIC Aerospace & Defense: +6.2%
    +31.5% Q2'25: +37.7% (vs Q2'23)
  • Share dilution Aerospace & Defense: +0.0%
    +0.0%
  • Debt / EBITDA Net debt/EBITDA · Aerospace & Defense: 0.16×
    1.94× Q2'25: 1.40× (vs Q2'23)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.12) × ERP
WACC = 86% × Ke + 14% × Kd (16.8%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Current price: 13.69
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2025
actual
Dec 2026
9 Rev. Ana.
8 EPS Ana.
Dec 2027
10 Rev. Ana.
9 EPS Ana.
Dec 2028
8 Rev. Ana.
4 EPS Ana.
Revenue
6.93B
est.
7.53B
7.41B – 7.68B
+8.7% YoY
8.77B
8.39B – 9.01B
+16.4% YoY
10.26B
9.94B – 10.50B
+17.0% YoY
EBITDA
1.54B
est.
1.67B
1.64B – 1.71B
+8.7% YoY
1.95B
1.86B – 2.00B
+16.4% YoY
2.28B
2.21B – 2.33B
+17.0% YoY
EBIT
1.29B
est.
1.41B
1.38B – 1.43B
+8.7% YoY
1.64B
1.57B – 1.68B
+16.4% YoY
1.92B
1.86B – 1.96B
+17.0% YoY
Net Income
822.29M
est.
1.07B
900.00M – 1.18B
+30.2% YoY
1.36B
1.22B – 1.59B
+27.3% YoY
— – —
-100.0% YoY
SGA
815.87M
est.
887.03M
872.01M – 904.61M
+8.7% YoY
1.03B
987.59M – 1.06B
+16.4% YoY
1.21B
1.17B – 1.24B
+17.0% YoY
EPS
0.79
est.
1.08
0.90 – 1.18
+36.6% YoY
1.40
1.22 – 1.59
+29.9% YoY
— – —
-100.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-28 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-27 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-26 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-25 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-22 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-21 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-20 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-19 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-18 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-15 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-14 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-13 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-12 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-11 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-08 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-07 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-06 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-05 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-05-04 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-30 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-29 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-28 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-27 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-24 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-23 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-22 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-21 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-20 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-17 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5
2026-04-16 C 2/5 5/5 1/5 1/5 1/5 1/5 1/5

Owner Earnings

Owner's Earnings (history)

Owner's Earnings history not available.

Owner alignment
Owner's Earnings TTM
OE per share TTM
Owner's Yield
Maintenance CapEx ratio
Maint CapEx / Avg PPE

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 199 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Amundi EURO STOXX 50 Daily (2x) Leveraged UCITS ETF Acc LVE.PA 2.77% 6.59M 0.40%
2 WisdomTree Europe Defense Fund WDEF 1.50% 1.36M 0.45%
3 iShares EURO STOXX Small UCITS ETF DJSC.L 0.72% 3.50M 0.40%
4 VanEck Defense UCITS ETF DFEN.DE 0.64% 44.85M 0.55%
5 WisdomTree Europe Defence UCITS ETF - EUR Acc WDEF.L 0.59% 28.99M 0.40%
6 Amundi PEA S&P 500 UCITS ETF Acc PSP5.PA 0.58% 8.91M 0.12%
7 Amundi PEA S&P 500 UCITS ETF EUR Hedged Acc PSPH.PA 0.58% 8.91M 0.12%
8 iShares Defense Industrials Act IDEF 0.56% 22.99M 0.55%
9 iShares MSCI Netherlands ETF EWN 0.49% 2.56M 0.50%
10 abrdn Emerging Markets Dividend Active ETF AGEM 0.40% 1.44M 1.18%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
134.8K
Shares Outstanding
1.00B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Alena Kozakova HR Director & Director female
David Chour Vice-Chairperson of the Board & COO male
Jan Marinov Chief Executive Officer of CSG Defence division
Ladislav Storek Vice-Chairman of the Board & General Counsel male
Michaela Katolicka CEO of CSGM & Director female
Michal Strnad Owner, Chairperson of the Board & CEO male
Milan Cícer Director of Security & Compliance
Milan Franc Managing Director of CSG Deal
Peter Russell Head of Investor Relations male
Petr Formanek Chief Investment Officer, M&A Director & Executive Director male
Petr Marijczuk Chief Executive Officer of CSG Ammo+ segment
Serge Damian Chief Sustainability Officer
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend history

Earnings reports

Stock splits