A quarter-century after its initial public offering, wind turbine manufacturer Nordex has achieved a market capitalization of approximately €10 billion. This landmark valuation arrives as the company’s shares have surged 158% over the past year, a rally that now places the focus squarely on the firm’s ability to deliver on its ambitious financial targets.
Operational Momentum and Long-Term Contracts
Supporting the company’s day-to-day operations is a recent repowering contract secured in Schleswig-Holstein. Nordex will supply seven N149/5.X turbines, with a combined capacity of 39.9 megawatts, for the Lütau 2 project. Installation is scheduled for spring 2027. Beyond the equipment sale, a 20-year premium service agreement attached to the deal provides the business with predictable, long-term revenue streams, diversifying its income beyond one-off project work.
Valuation Premium Demands Execution
The company’s journey from its April 2, 2001, IPO price of €9 per share has transformed its standing in the capital markets. Following the substantial share price advance, the stock now trades at a 2027 EV/EBITDA multiple of 7.6. This figure sits roughly 20% above its ten-year historical average of 6.4, indicating investors are pricing in significant future growth.
Should investors sell immediately? Or is it worth buying Nordex?
This valuation premium hinges on the management team successfully hitting its published goals. For the 2026 fiscal year, Nordex leadership projects revenue will climb to between €8.2 billion and €9.0 billion. They are also targeting an EBITDA margin in the range of 8.0% to 11.0%.
Upcoming Catalysts for Investors
The market will not have to wait long for progress checks on these forecasts. The group is set to release its first-quarter 2026 results on April 27. Shortly thereafter, at the Annual General Meeting scheduled for May 5, shareholders will likely hear updates on the firm’s strategic direction. Notably, the agenda is expected to include concrete discussions regarding the potential introduction of a dividend for the first time.
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