KH Group Oyj

KHG.HE

Conglomerates · Industrials

Price

€0.57

+0.00 (+0.00%)

Market Cap

€32.9M

Exchange

NASDAQ Helsinki

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.

Data as of Aug 9, 2026 · filings through Mar 31, 2026

KH Group Oyj is a Finnish industrial conglomerate that operates across several different business areas, including technical services, maintenance, and specialty retail. The company serves both business customers and consumers, primarily in Finland and the Nordic region. It is a relatively small, diversified holding company listed on the Helsinki Stock Exchange.

KH Group earns revenue through a mix of service contracts, product sales, and retail operations across its subsidiaries. The company operates mainly in Finland, and with a market capitalization near zero and an operating margin of just 2.3%, it is a small and thinly profitable business. Its diversified structure provides some stability across economic cycles, but the low returns on invested capital — around 2.7% — suggest the company struggles to generate strong profits from its assets, which remains a key challenge for long-term value creation.

Winston Score History

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

YoY Growth Rate

Revenue data limited

EPS Growth

YoY Growth Rate

EPS data limited

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

44.4%ownership

Insiders own a meaningful stake in the company

Cash Runway

~3 months

$9M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

KH Group Oyj has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

Share count broadly stable

+0.5% over 6y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 57.8M (2019) → 58.1M (2025)

Score breakdown

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Quality

Gross Margin

26.5%

Modest — 26.5% gross margin

Operating Margin

2.5%

Thin — 2.5% operating margin

ROCE

7.2%

Weak — 7.2% 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

N/A

Data not available

EPS YoY

N/A

Data not available

EPS Consistency

N/A

Data not available

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

12.8%

Converts sales into free cash efficiently (12.8%)

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

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Stability

Debt / Equity

0.43

Conservative — low debt load (0.43)

Interest Cover

1.20x

Dangerous — barely covers interest (1.2x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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