QM · rank #9 · 2026-07-22
JEN
XETRA · EUR · $2.52B (USD)
The exact numbers the algorithm saw.
| Momentum 12-1 Return from 12 months ago to 1 month ago. | +160.18% |
|---|---|
| ROE TTM Return on equity, trailing 12 months. | +7.9% |
| Profit margin Net profit margin, trailing 12 months. | +7.6% |
| Market cap (USD) Size filter: > $300M required (USD-equivalent). | $2.52B |
| Anchor (recent) Close on 2026-06-22 | $47.46 |
| Anchor (far) Close on 2025-06-20 | $18.24 |
The AI research card
Independent qualitative review of each pick before the order is placed. On the rare day the research service is unavailable, the paper book trades on the quant ranking alone and no card appears here.
Summary
Jenoptik is a German photonics and precision optics group supplying optical systems and subsystems primarily to semiconductor equipment OEMs and industrial customers, with its Semiconductor & Advanced Manufacturing segment as the key profit driver.
Rationale
The record Q1 2026 order intake of €356.9m (+74.4% YoY) and surging backlog of €719.2m provide concrete revenue visibility that reinforces the momentum signal, while improving EBITDA margins (18.4% in Q1, guided 19–21% for FY2026) and EPS recovery from €0.16 to €0.29 QoQ validate the quality screen.
Material risks
- 1High OEM customer concentration means a single large semiconductor equipment customer developing in-house photonics capability or redirecting capex could rapidly deflate the record backlog and collapse the momentum thesis.
- 2Results are tightly coupled to semiconductor and data-center capex cycles, as evidenced by the FY2025 EBITDA decline of ~13% on soft Q4 orders, meaning any demand pause would hit both revenue and margin simultaneously.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.