PORR AG

POS.VI

Engineering & Construction · Industrials

Price

€37.95

-0.45 (-1.17%)

Market Cap

€1.49B

Exchange

Vienna Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Jul 26, 2026 · filings through Dec 31, 2025

Share count rising — dilution

+27.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 30.4M (2021) → 38.7M (2025)

PORR AG is an Austrian construction company that builds roads, tunnels, bridges, railways, and buildings across Europe. Its customers include governments, municipalities, and private developers who need large infrastructure projects completed. Founded in 1869 and headquartered in Vienna, PORR is one of the largest construction groups in the German-speaking world.

PORR makes money by winning contracts to design and build projects, then charging clients for labor, materials, and project management over the life of each contract. The company operates mainly in Austria, Germany, Poland, Czech Republic, and other Central and Eastern European markets, generating roughly €6–7 billion in annual revenue. Construction is a low-margin, competitive business, and PORR's slightly negative operating margin highlights how thin the profit cushion is. The key growth driver is increased European government spending on infrastructure and energy transition projects, while the main risk is cost overruns on fixed-price contracts, which can quickly turn profitable jobs into losses.

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

+6.2% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+36.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

65.7%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$1.1B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth context

PORR AG is growing revenue at 6% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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

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Quality

Gross Margin

34.4%

Modest — 34.4% gross margin

Operating Margin

-4.5%

Losing money on operations — -4.5%

ROCE

-6.3%

Weak — -6.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+1.7%

Nearly flat sales (1.7% YoY)

EPS YoY

+29.0%

Earnings growing fast (29.0% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

291%

Turns 291% of profit into real cash

FCF Margin

3.2%

Thin free cash flow (3.2%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.58

Conservative — low debt load (0.58)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

12.7x

Attractive valuation — P/E 12.7

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

P/E vs Forward

+3.0

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend Yield

2.77%

Moderate income — 2.77% yield

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

Dividend Growth

+10.9%

Dividend growing fast (10.9% YoY)

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