olivLaw · European equity research
SW Umwelttechnik Stoiser & Wolschner AG SWUT.VI
Austria · Wiener Börse · ISIN AT0000808209 · Vertical: Listed companies from Austria
SW Umwelttechnik Stoiser & Wolschner AG is an Austrian group operating in Central and Eastern Europe, active in environmental infrastructure and construction for municipalities. The current context, with slow economic recovery in Austria and Hungary and EU fund support in Eastern Europe, makes developments in road, rail and wastewater demand relevant.
At the close of 02 Nov 2026, SW Umwelttechnik Stoiser & Wolschner AG (SWUT.VI) stock was 36.00 EUR (+0.00% on the day), with market capitalisation 26.2 m EUR, P/E 8.5 on diluted EPS of 4.25 EUR over the last 12 months, dividend yield 1.11%, beta -0.00, 52-week range 31.00–40.00 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 38.5
- weak (30–45)
- Bollinger (20, 2)
- 35.47 – 37.87
- in the lower half of the band · %B 0.22 · band width 6.6%
- SMA 50 / 200
- 37.92 / 36.36
- mixed trend
- MACD (12, 26, 9)
- -0.55 / -0.52
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | unavailable | −1.0% | unavailable | — |
| 3 months | −9.5% | −3.9% | −5.7 pp | — |
| 6 months | −7.7% | +7.2% | −14.8 pp | — |
| Year to date | +11.8% | +6.6% | +5.2 pp | — |
| 1 year | +5.9% | +9.1% | −3.2 pp | +4.1% |
| 3 years | unavailable | +47.9% | unavailable | +11.1% |
| 5 years | unavailable | +43.3% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 67 percentile of its own 3-quarter history (min 2.8, median 7.6, max 23.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 130.9 m | 116.6 m | 112.5 m |
| Revenue YoY | unavailable | −10.9% | −3.5% |
| Net income | 10.3 m | 1.1 m | 3.1 m |
| Net income YoY | unavailable | −89.3% | +179.8% |
| Diluted EPS | 14.24 | 1.52 | 4.25 |
| Diluted EPS YoY | unavailable | −89.3% | +179.6% |
| net % | 7.9% | 0.9% | 2.7% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.5 m EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 45.3 m EUR
- Total assets
- 130.1 m EUR
- Debt / equity
- unavailable
- Current ratio
- 0.79x
- ROE
- 7.1%
- ROA
- 2.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 130.9 m | 116.6 m | 112.5 m | esef· 21 Apr 2026verified |
| Operating income | 14.8 m | 6.5 m | 6.1 m | esef· 21 Apr 2026verified |
| Depreciation & amortisation | 5.4 m | 6.6 m | 7.7 m | esef· 21 Apr 2026verified |
| EBITDA | 20.3 m ≈ | 13.1 m ≈ | 13.8 m ≈ | esef· 21 Apr 2026derived |
| Interest expense | 3.8 m | 3.8 m | 3.4 m | esef· 21 Apr 2026verified |
| Pre-tax income | 11.8 m | 1.1 m | 3.9 m | esef· 21 Apr 2026verified |
| Income tax | 1.4 m | -6.0 k | 836.0 k | esef· 21 Apr 2026verified |
| Net income | 10.3 m | 1.1 m | 3.1 m | esef· 21 Apr 2026verified |
| Diluted EPS | 14.24 | 1.52 | 4.25 | esef· 21 Apr 2026verified |
| Dividend per share | 2.90 | 3.30 | 0.40 | esef· 21 Apr 2026derived |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 3.3 m | 2.6 m | 1.5 m | esef· 21 Apr 2026verified |
| Inventories | 28.7 m | 26.8 m | 25.6 m | esef· 21 Apr 2026verified |
| Current assets | 52.8 m | 44.7 m | 38.0 m | esef· 21 Apr 2026verified |
| Property, plant & equipment, net | 81.9 m | 88.2 m | 86.1 m | esef· 21 Apr 2026verified |
| Total assets | 141.4 m | 138.9 m | 130.1 m | esef· 21 Apr 2026verified |
| Current liabilities | 48.2 m | 64.0 m | 48.1 m | esef· 21 Apr 2026verified |
| Equity | 44.2 m | 41.6 m | 45.3 m | esef· 21 Apr 2026verified |
| Shares outstanding at year end | 725.8 k | 726.3 k | 726.8 k | esef· 21 Apr 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 33.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
02 Nov 2026Source: olivLaw, closing series
Market cap: 26.2 m EUR
Key indicators
Coverage and freshness
Score by group
33% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 50.62 – 91.57 EUR.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E50.62 – 91.57 (Mid 69.72)24 companies used · median multiple 16.4x · quartiles 11.9x – 21.5x1AST.VI, ACAG.VI, AMAG.VI, ANDR.VI, BMAG.VI, CPI.VI, DOC.VI, ETS.VI, EVN.VI, FAA.VI, FACC.VI, FQT.VI, MMK.VI, OMV.VI, POS.VI, POST.VI, PYT.VI, ROS.VI, SBO.VI, STR.VI, TKA.VI, VER.VI, VOE.VI, WIE.VI
- Dividend discount (DDM)outside the aggregate5.43 – 7.40 (Mid 6.26)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 2.7% | 44 (vs peers) | 19% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 1.8x | 4 (on a fixed band) | 19% |
| Current ratio · Balance sheet | 0.8x | 0 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | 8.5x | 92 (vs peers) | 31% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 1.1% | 16 (on a fixed band) | 19% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet3/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial44/100 · 1/3 factors with a value
- Returns· partial16/100 · 1/2 factors with a value
- Valuation· partial92/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
SW Umwelttechnik Stoiser & Wolschner AG (SWUT.VI). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 112.5 m EUR in 2025; YoY growth -3.5%; net margin 2.7%; ROE 7.1%.
The estimated value range is 50.62–91.57 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 69.72 EUR, the price of 36.00 EUR leaves a potential of 93.7% (value / price − 1) and a margin of safety of 48.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- P/E (TTM): 8.5x
- The price is below the estimated value range
What contradicts it
- Interest coverage: 1.8x
- Current ratio: 0.8x
- Shareholder yield (distributions): 1.1%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from Austria · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| OMV.VIOmv Aktiengesellschaft | 35.6 bn | 23.4 | 8.9% | 6.3% | −7.2% | +53% / +86% |
| VER.VIVerbund AG | 24.1 bn | 16.2 | 14.7% | 18.6% | −2.8% | +9% / −21% |
| STR.VIStrabag Se | 11.8 bn | 12.9 | 17.2% | 4.9% | +7.4% | +33% / +170% |
| ANDR.VIAndritz AG | 8.0 bn | 17.5 | 19.3% | 5.8% | −5.2% | +31% / +64% |
| VOE.VIvoestalpine AG | 7.1 bn | 17.0 | 5.7% | 2.8% | −4.3% | +12% / +61% |
| EVN.VIEvn AG | 5.3 bn | 12.2 | 6.9% | 14.6% | +3.8% | +13% / +11% |
| ATS.VIAT & S Austria Technologie & Systemtechnik Aktiengesellschaft | 3.2 bn | — | -2.4% | -1.4% | +12.7% | +323% / +458% |
| DOC.VIDO & CO Aktiengesellschaft | 2.3 bn | 21.4 | 24.0% | 4.3% | +7.1% | +8% / +64% |
| CPI.VICPI Europe AG | 2.1 bn | 4.2 | 12.2% | 68.2% | −6.7% | −0% / −18% |
| POST.VIÖsterreichische Post Aktiengesellschaft | 2.1 bn | 16.2 | 18.3% | 4.3% | −2.6% | +4% / +1% |
| WIE.VIWienerberger AG | 1.9 bn | 11.2 | 5.9% | 3.6% | +1.2% | −42% / −35% |
| LNZ.VILenzing Aktiengesellschaft | 1.6 bn | — | -11.8% | -5.2% | −2.3% | −53% / −68% |
| MMK.VIMayr-Melnhof Karton Aktiengesellschaft | 1.3 bn | 17.0 | 3.6% | 1.9% | −4.8% | −21% / −42% |
| POS.VIPorr AG | 1.2 bn | 10.6 | 12.9% | 1.8% | +1.7% | +5% / +165% |
| AMAG.VIAMAG Austria Metall AG | 1.1 bn | 33.6 | 4.7% | 2.3% | +2.1% | +35% / +20% |
| BMAG.VIPIERER Mobility AG | 1.1 bn | 1.9 | 638.9% | 58.9% | −46.3% | +87% / −47% |
| FQT.VIFrequentis AG | 866.5 m | 30.8 | 15.5% | 4.9% | +20.8% | −5% / +131% |
| ETS.VIEuroTeleSites AG | 730.3 m | 21.9 | 8.8% | 11.9% | +3.7% | −7% / +31% |
| AGR.VIAGRANA Beteiligungs-Aktiengesellschaft | 713.5 m | — | -3.6% | -1.2% | −7.9% | −4% / −16% |
| FACC.VIFacc AG | 616.2 m | 29.1 | 9.1% | 2.2% | +11.3% | +25% / +133% |
| ROS.VIRosenbauer International AG | 604.5 m | 12.1 | 17.4% | 3.5% | +9.4% | +38% / +109% |
| 1AST.VIASTA Energy Solutions AG | 499.7 m | 16.6 | 42.3% | 4.3% | +8.3% | unavailable / unavailable |
| SBO.VISbo AG | 453.4 m | 19.2 | 5.2% | 5.2% | −18.8% | +5% / −30% |
| SEM.VISemperit Aktiengesellschaft Holding | 360.2 m | 857.5 | 0.1% | 0.1% | −2.1% | +32% / +21% |
| ACAG.VIAustriacard Holdings AG | 348.9 m | 25.7 | 11.4% | 4.1% | −8.2% | +77% / +65% |
1- and 3-year price returns: for SWUT.VI from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 19.57 Total return -45% · Per year -45% | 34.75 Total return -2% · Per year -2% | 52.54 Total return 47% · Per year 47% |
| 3 years | 16.08 Total return -53% · Per year -22% | 32.38 Total return -7% · Per year -2% | 54.16 Total return 54% · Per year 16% |
| 5 years | 13.20 Total return -60% · Per year -17% | 30.17 Total return -11% · Per year -2% | 55.83 Total return 62% · Per year 10% |
- Exit P/E± 8.10
- Net margin± 5.67
- Annual revenue growth± 5.04
- Annual dilution± 0.48
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
SW Umwelttechnik Stoiser & Wolschner AG is an Austrian group operating in Central and Eastern Europe, active in environmental infrastructure and construction for municipalities. The current context, with slow economic recovery in Austria and Hungary and EU fund support in Eastern Europe, makes developments in road, rail and wastewater demand relevant 1.
SWOT
Strengths
- Geographic presence in several countries and diversification across two business segments, which helps offset seasonal and regional variation 1.
- Modern plants and integrated IT systems that allow orders to be shifted between locations and deadlines to be met 1.
- Fixed-price contract clauses for large projects that reduce exposure to steel price volatility 1.
Weaknesses
- Reliance on bank loans for financing and the need for patronage declarations from the holding for national subsidiaries 1.
- Shortage of skilled labour in Hungary and Romania, which may limit production capacity and project execution 1.
- Exposure to currency fluctuations for the RON and HUF, although part of operations are conducted in euro 1.
Opportunities
- Structural growth potential in Romania and use of EU funds allocated to municipal investment in Central and Eastern Europe 1.
- Gradual return of investment in equipment and public infrastructure in Austria, which could increase demand 1.
- If Hungary clarifies its political framework after the elections, postponed projects could resume and EU funds could be released 1.
Risks
- Dependence on public fundshigh
Demand for municipal projects depends on the availability of public financing and the release of EU funds, and delays could postpone orders 1.
- Volatility of raw material pricesmedium
Steel and energy prices can fluctuate considerably, and fixed-price clauses do not cover all projects, which could affect margins 1.
- Currency risk in RON and HUFmedium
Operations in Romania and Hungary are exposed to volatility in local currencies, which can affect results translated into euro 1.
- Shortage of labourmedium
A lack of qualified personnel in Hungary and Romania could limit production capacity and contract execution 1.
- Risk of asset impairmentlow
Impairment tests can lead to write-downs if growth assumptions or the discount rate change; a rate of 10.0% was used for the Hungarian unit 1.
Investment thesis
What would need to be true (bull case)
- If EU funds for municipal infrastructure are released in time, demand for the group's projects could rise noticeably in Central and Eastern Europe 1.
- Geographic and segment diversification could cushion shocks in individual markets and help maintain capacity utilisation 1.
- Fixed-price clauses and already contracted projects could offer visibility on revenues and margins in the coming period 1.
What would break the thesis
- If the economic recovery in Austria and Hungary remains slow, demand in construction and infrastructure could stay moderate for longer 1.
- A rise in energy and raw material prices could push costs up and postpone clients' investments 1.
- Currency and political risks in Hungary could continue to affect project timing and results translated into euro 1.
What to watch
- Receipt of EU funds for municipal investment in Hungary following the parliamentary elections2026
- Steel and energy price trends and their effect on margins, especially on projects without fixed-price clausesnext 10-K
- Level of patronage declarations and bank financing of the group compared with 2025 figuresnext 10-K
- Pace of the return of demand in construction and infrastructure in Austria, against the forecast of moderate growth2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
According to the annual report for fiscal 2025, the group operates as a holding (SW Umwelttechnik Stoiser & Wolschner AG) coordinating national subsidiaries in several countries. Products are exported to Slovakia, Italy, Germany, Slovenia and Bulgaria, and production takes place in several plants, allowing orders to be shifted between locations 1.
The company emphasises guaranteeing deadlines and performance for clients, using integrated IT project planning and a group-wide SAP system 1.
Group financing relies largely on bank loans, and the holding issued patronage declarations for national subsidiaries worth 41.7 million EUR at 31.12.2025, compared with 43.6 million EUR at the end of the prior year 1.
Segments
Road, rail and wastewater infrastructure
The annual report notes that EU support for municipal investment in Central and Eastern Europe is especially important in road and rail infrastructure and wastewater treatment, indicating the importance of these lines of business for the group 1.
Environmental products and solutions
The group describes its products as designed for resource-efficient use, and their manufacture depends on steel and energy prices, which are partly covered by fixed-price contract clauses for large projects 1.
Market context
According to estimates in the report, the Austrian economy could recover moderately in 2026, with growth of around 0.9%, while Hungary's economy is expected to grow around 2.3%, with risks linked to currency volatility and high financing costs 1. Demand in construction and infrastructure segments nonetheless remains, overall, moderate 1.
The company identifies structural growth potential in Romania and intends to maintain its market position in Austria and Hungary, where the parliamentary elections in April 2026 postponed some investment decisions 1.
Trends
- EU funds for municipal infrastructuretailwind
The EU budget for 2021-2027 includes support for municipal investment in Central and Eastern Europe, which could support demand for the group's projects if funds are released on time 1.
- Slow economic recovery in Austriamixed
The report describes a gradual recovery after the 2025 recession, with investment in equipment and the public sector, but construction activity remains weak, especially in housing 1.
- Volatile energy and raw material pricesheadwind
A conflict in the Middle East could push up energy and raw material prices, which would affect production costs and could delay client investment decisions 1.
- Political uncertainty in Hungarymixed
The April 2026 parliamentary elections created uncertainty and led to some projects being postponed, although projects could resume once the political framework is clarified 1.
Competitive position
The annual report does not explicitly name the group's competitors. However, the company stresses that through internal benchmarking and competitor analysis it pursues the goal of cost leadership in all relevant areas 1.
The management's stated advantage lies in geographic and product diversification, which allows seasonal and regional fluctuations to be offset, along with modern plants that can be used flexibly across the group 1.
- Regional infrastructure and environmental contractors
The source does not name specific competitors; the group compares performance through internal benchmarking without naming outside firms 1.
- Wastewater treatment solution providers
The source does not identify competing firms for wastewater treatment; competitive analysis is mentioned only generally in the report 1.
- Road and rail construction firms
No direct competitors are named in the source; firms in this segment are not identified in the annual report 1.
- Central European environmental equipment manufacturers
The source gives no names of rival companies and does not allow assignment of a US ticker 1.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202521 Apr 2026
- Annual report 202521 Apr 2026
- Annual report 202415 Apr 2025
- Annual report 202415 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / SW Umwelttechnik Stoiser & Wolschner AG · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.