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Gimv N.V.

GIMB.BR
52
Asset Management · Financial Services
Exchange
Euronext Brussels
Winston Score
52
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 9, 2026 · filings through Dec 31, 2025

Gimv N.V. is a Belgian investment company that puts money into private businesses across Europe. It focuses on four main areas: healthcare, consumer goods, smart industries, and sustainable cities. Think of it like a fund that buys stakes in mid-sized companies, helps them grow, and eventually sells them for a profit.

Gimv makes money primarily through capital gains when it sells its investments, plus dividends and management fees from the companies it owns. It is listed on Euronext Brussels and manages a portfolio worth roughly €1.5 billion, with investments spread mainly across Belgium, the Netherlands, France, and Germany. Its competitive edge comes from decades of experience in European private equity and a strong network of local deal-sourcing relationships. The main risk the company faces is that rising interest rates and slower economic growth in Europe can reduce the value of its portfolio companies and make it harder to sell them at attractive prices.

Winston Score History

Score breakdown

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Quality

Gross Margin
96.6%
Premium pricing power — 96.6% gross margin
Operating Margin
214.5%
Excellent — 214.5% operating margin
ROCE
2.0%
Weak — 2.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
-20.1%
Shrinking sales (-20.1% YoY)
EPS YoY
-34.3%
Earnings shrinking (-34.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
-170%
Weak — only -170% of profit becomes cash
FCF Margin
-340.6%
Burning cash (-340.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity
0.18
Conservative — low debt load (0.18)
Interest Cover
21.40x
Comfortably covers interest (21.4x)

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

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Valuation

P/E Ratio (TTM)
9.4x
no trend
Attractive valuation — P/E 9.4

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend Yield
4.37%
no trend
Healthy income — 4.37% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth
-3.8%
no trend
Dividend cut (-3.8% YoY) — warning sign

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