QM · rank #4 · 2026-09-11
JEN
XETRA · EUR · $2.73B (USD)
The exact numbers the algorithm saw.
| Momentum 12-1 Return from 12 months ago to 1 month ago. | +121.37% |
|---|---|
| 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 2026-08-12 | $41.28 |
| Anchor (far) Close on 2025-08-12 | $18.65 |
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, EBITDA margin expansion of ~390bps to 19.7%, and raised full-year guidance — all consistent with a name where improving profitability and price momentum are grounded in fundamental earnings acceleration rather than sentiment alone.
Material risks
- 1Jenoptik's OEM photonics components are susceptible to insourcing or multi-sourcing by large semiconductor equipment customers, which would directly erode the margin improvement and revenue visibility that underpin both the quality and momentum legs of this thesis.
- 2The ~€825m backlog and 53% order intake growth are heavily tied to semiconductor capex; a capex pause or inventory correction at key OEM customers could rapidly deflate the book-to-bill and reverse the H1 2026 earnings trajectory that drives the momentum signal.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.