QM · rank #6 · 2026-09-10
JEN
XETRA · EUR · $2.73B (USD)
The exact numbers the algorithm saw.
| Momentum 12-1 Return from 12 months ago to 1 month ago. | +111.78% |
|---|---|
| ROE TTM Return on equity, trailing 12 months. | +8.8% |
| Profit margin Net profit margin, trailing 12 months. | +8.3% |
| Market cap (USD) Size filter: > $300M required (USD-equivalent). | $2.73B |
| Anchor (recent) Close on 2026-08-11 | $39.24 |
| Anchor (far) Close on 2025-08-11 | $18.53 |
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 OEM supplier serving semiconductor equipment, advanced manufacturing, biophotonics, and defense markets with optical and photonic components and systems.
Rationale
The quality_momentum signal is reinforced by a 53% H1 2026 order intake surge, a 1.4 book-to-bill, rising EBITDA margins (~390bps expansion), and raised full-year guidance — all consistent with a name where earnings momentum and improving returns are accelerating together.
Material risks
- 1Large OEM customers (e.g. ASML, Applied Materials) could insource or multi-source photonics components, directly undermining the revenue visibility and margin profile that underpin the quality leg of this thesis.
- 2Jenoptik's order backlog and book-to-bill are tightly coupled to semiconductor capex cycles; an inventory correction or capex pause by leading-edge fabs would rapidly deflate the H1 2026 momentum that drives the screen.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.