Fabasoft AG

FAA.DE

Software - Application · Technology

Also trades as: 0IWU.L

Price

€15.30

+1.35 (+9.68%)

Market Cap

€162.0M

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 13, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Good

Growth

Mixed

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Mixed

Dividends

Mixed

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Share count falling — buybacks

−3.8% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 11.0M (2022) → 10.6M (2026)

Winston Score History

The full picture

Fabasoft is an Austrian software company that helps governments and large businesses manage their documents and digital workflows. Its main product is a cloud-based platform called Fabasoft Cloud, which lets organizations store, share, and track important files and processes. The company also sells Fabasoft eGov, a specialized version built for public sector agencies across Europe.

Fabasoft earns money through software licenses and recurring subscription fees from its cloud services. It operates mainly in German-speaking countries — Austria, Germany, and Switzerland — and generates roughly €100 million in annual revenue. Its moat comes from deep integration into government IT systems, which makes switching to a competitor costly and slow. The main risk is that Fabasoft is a small player in a crowded market dominated by much larger software companies like Microsoft and SAP, which limits how fast it can grow outside its home region.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+12.0% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+187.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$27M/ year

29.4% of revenue

2.0x the sector average (15%)

Research and development spending

Insider Activity

49.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$42M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Fabasoft AG is a rare growth stock that's already generating positive cash flow while growing at 12%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

36.6%

Modest — 36.6% gross margin

Operating Margin

22.0%

Excellent — 22.0% operating margin

ROCE

10.3%

Below par — 10.3% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+3.7%

Slow sales growth (+3.7% YoY)

EPS YoY

+18.4%

Earnings growing fast (+18.4% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

196%

Turns 196% of profit into real cash

FCF Margin

16.4%

Converts sales into free cash efficiently (16.4%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

0.27

Conservative — low debt load (0.27)

Interest Cover

20.53x

Comfortably covers interest (20.5x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

15.9x

Fair value — P/E 15.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

-1.0

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend Yield

3.27%

Moderate income — 3.27% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

-63.6%

Dividend cut (-63.6% YoY) — warning sign

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