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Enapter AG (H2O.DE)

EUR1.37 +0.01 (+0.73%)
DE XETRA Industrials Industrial - Machinery
Address Reinhardtstrasse 35 10117
Berlin, DE
CEO Jürgen Laakmann
IPO 2020-02-18
ISIN DE000A255G02

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Also trades on Deutsche Börse · H2O.DE (EUR) Frankfurt Stock Exchange · H2O.F (EUR)
Description

Enapter AG specializes in the development, manufacturing, and distribution of hydrogen generation solutions. The company's primary products include patented anion exchange membrane (AEM) electrolysers and sophisticated energy management systems. These cutting-edge electrolysers are employed in a variety of fields, such as power-to-heat and power-to-gas projects, the electricity storage sector, sustainable mobility, and scientific research. Established in 2017 and headquartered in Berlin, Germany, the company was formerly known as S&O Beteiligungen AG before rebranding to Enapter AG in November 2020. Enapter AG operates as a subsidiary of BluGreen Company Limited.

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
EUR1.37 +0.01 (+0.73%)
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Volume Profile
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Liquidity & share structure
Average Volume
25.0K
Beta
0.47
Float Shares
13.12M
Free Float %
40.9%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+2.10% -2.02% -5.81% -20.07% -21.61% -30.17% -58.95% -90.27% -94.60% +618.47% +618.47%
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
1.37
Ratings Trend (MoM) 75% Bullish
Rating 2026-05 Change
Strong Buy 2 +1
Buy 1 0
Hold 1 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
-1.48
Distress
Piotroski F-Score
3 / 9
Average
MOAT Score
0 / 10
No MOAT
Composite Rating
C-
Overall Score
1 / 5
Low
DCF Score
1 / 5
Low
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
4 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Industrial - Machinery: +7.4%
    +3.1% Q4'25: +14.5% (vs Q4'23)
  • EPS growth Industrial - Machinery: +15.6%
    -44.0% Q4'25: -1,232.8% (vs Q4'23)
  • FCF margin FCF growth · Industrial - Machinery: +38.2%
    -47.8% Q4'25: -36.9% (vs Q4'23)
  • EBIT margin Industrial - Machinery: +10.0%
    -127.6% Q4'25: -108.4% (vs Q4'23)
  • ROIC Industrial - Machinery: +6.8%
    -34.7% Q4'25: -87.9% (vs Q4'23)
  • Share dilution Industrial - Machinery: +0.0%
    +8.6% Q4'25: +17.9% (vs Q4'23)
  • Debt / EBITDA Net debt/EBITDA · Industrial - Machinery: -0.65×
    -2.17× Q4'25: -0.87× (vs Q4'23)
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 (0.44) × ERP
WACC = 46% × Ke + 54% × Kd (14.5%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Current price: 1.37
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 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
3 Rev. Ana.
2 EPS Ana.
Dec 2027
3 Rev. Ana.
3 EPS Ana.
Dec 2028
2 Rev. Ana.
1 EPS Ana.
Revenue
2.07M
est: 2.75M (-24.8%)
8.44M
est: 8.44M (+0.0%)
14.67M
est: 15.41M (-4.8%)
31.61M
est: 38.26M (-17.4%)
21.44M
est: 21.30M (+0.6%)
22.10M
est: 22.10M (0.0%)
37.50M
33.72M – 41.70M
+69.7% YoY
54.28M
53.60M – 54.95M
+44.7% YoY
75.00M
73.86M – 76.14M
+38.2% YoY
EBITDA
-2.92M
est: -1.65M (-76.9%)
-7.62M
est: -5.06M (-50.6%)
-10.58M
est: -9.24M (-14.6%)
1.79M
est: -21.99M (+108.2%)
-9.23M
est: -12.24M (+24.6%)
-19.35M
est: -12.70M (-52.4%)
-21.55M
-23.96M – -19.38M
-69.7% YoY
-31.19M
-31.58M – -30.80M
-44.7% YoY
-43.10M
-43.75M – -42.44M
-38.2% YoY
EBIT
-3.54M
est: -2.02M (-75.8%)
-8.62M
est: -6.18M (-39.4%)
-12.86M
est: -11.28M (-13.9%)
-2.38M
est: -28.03M (+91.5%)
-15.24M
est: -15.60M (+2.3%)
-28.20M
est: -16.19M (-74.2%)
-27.47M
-30.55M – -24.70M
-69.7% YoY
-39.76M
-40.25M – -39.26M
-44.7% YoY
-54.94M
-55.78M – -54.10M
-38.2% YoY
Net Income
-3.57M
est: -6.34M (+43.7%)
-8.70M
est: -8.70M (0.0%)
-12.98M
est: -13.21M (+1.8%)
-7.16M
est: -5.14M (-39.4%)
-20.73M
est: -19.65M (-5.5%)
-32.16M
est: -24.34M (-32.1%)
-10.91M
-11.06M – -10.76M
+55.2% YoY
-4.06M
-5.01M – -2.97M
+62.8% YoY
301.1K
259.8K – 342.5K
+107.4% YoY
SGA
853.6K
est: 637.6K (+33.9%)
2.17M
est: 1.96M (+11.1%)
2.47M
est: 3.57M (-30.7%)
4.44M
est: 11.60M (-61.7%)
3.85M
est: 6.46M (-40.4%)
17.02M
est: 6.70M (+153.9%)
11.37M
10.22M – 12.64M
+69.7% YoY
16.46M
16.25M – 16.66M
+44.7% YoY
22.74M
22.39M – 23.09M
+38.2% YoY
EPS
-0.16
est: -0.23 (+30.6%)
-0.38
est: -0.37 (-2.1%)
-0.51
est: -0.51 (-0.9%)
-0.26
est: -0.19 (-37.6%)
-0.75
est: -0.65 (-14.9%)
-1.08
est: -0.94 (-14.9%)
-0.37
-0.37 – -0.36
+61.2% YoY
-0.13
-0.17 – -0.10
+64.4% YoY
0.01
0.01 – 0.01
+107.7% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-11 C- 1/5 1/5 1/5 1/5 1/5 1/5 4/5
2026-05-08 C 2/5 1/5 1/5 1/5 2/5 1/5 4/5
2026-05-07 C 2/5 1/5 1/5 1/5 2/5 1/5 4/5
2026-05-06 C 2/5 1/5 1/5 1/5 2/5 1/5 4/5
2026-05-05 C 2/5 1/5 1/5 1/5 2/5 1/5 4/5
2026-05-04 C 2/5 1/5 1/5 1/5 2/5 1/5 4/5
2026-04-30 C- 1/5 1/5 1/5 1/5 1/5 1/5 4/5
2026-04-29 C- 1/5 1/5 1/5 1/5 1/5 1/5 4/5
2026-04-28 C- 1/5 1/5 1/5 1/5 1/5 1/5 4/5
2026-04-27 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-24 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-23 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-22 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-21 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-20 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-17 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5
2026-04-16 C- 1/5 1/5 1/5 1/5 1/5 1/5 3/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
29.98M
OE per share TTM
1.08
Owner's Yield
76.61%
Maintenance CapEx ratio
Maint CapEx / Avg PPE
314.0%

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

This company is not held by any ETF in our universe.

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
-144.6K
Shares Outstanding
32.07M

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
Gerrit Kaufhold Member of Executive Board male
Ivan Gruber Chief Technology Officer & Member of the Management Board male
Jürgen Laakmann Chief Executive Officer & Member of Executive Board
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 history

Earnings reports

Stock splits