PFISTERER Holding stock has been sliding quietly for months, with the share price down about 28% over 90 days. Yet the latest quarter delivered the kind of numbers many investors say they want from an electrical infrastructure specialist. Q2 revenue reached €129.8m and basic earnings per share came in at €1.11, helped by an adjusted EBITDA margin close to 20% and a record €340m order book.

The gap between the weak share price and robust operating momentum is now the central question for anyone looking at PFISTERER after these results.

Is PFISTERER Holding’s 19.4x P/E with a 13.7% net margin and 82.3% earnings growth over 12 months a genuine discount or a mirage created by high non cash earnings? Compare that gap in our valuation…