Norma Group
NOEJ.DE Small CapIndustrials · Metal Fabrication
Updated: Jul 6, 2026, 22:20 UTC
Price Chart
Key Metrics
Valuation Analysis
About the Company
NORMA Group SE, together with its subsidiaries, manufactures and sells engineered joining technology solutions in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. The company provides quick connectors, pipe clamps, plastic connectors, retain and fix solutions. It sells its products to distributors, specialized wholesalers, smaller industrial sectors, original equipment manufacturers, doit-yourself stores under the ABA, Breeze, Clamp-All, CONNECTORS, Gemi, NORMA, R.G.RAY, Serflex, and TORCA brand names. In addition, it provides water and thermal management. Further, the company's products are used in automotive, commercial vehicle and aviation industries, the infrastructure and industrial project business, shipbuilding and mechanical engineering, as well as the drinking
Norma Group Stock at a Glance
Norma Group (NOEJ.DE) is currently trading at €17.78 with a market capitalization of $509.9M. The 52-week range spans from €12.48 to €18.90; the current price is 5.9% below the yearly high. Year-over-year revenue growth stands at -5.7%. The net profit margin stands at 28.62%.
💰 Dividend
Norma Group pays an annual dividend of €0.14 per share, representing a yield of 0.79%. The payout ratio stands at 1333.33%. The elevated payout ratio reflects a mature dividend policy.
📊 Analyst Rating
5 analysts rate Norma Group (NOEJ.DE) on consensus: Buy. The average price target is €17.44, implying -1.91% from the current price. Analyst price targets range from €13.00 to €23.00.
Norma Group: The Investment Case in Detail
Norma Group (NOEJ.DE) operates in the Industrials — specifically Metal Fabrication — and is headquartered in Germany. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.
The Bull Case
Free cash flow is positive and net margins stand at 28.62%, meaning reported earnings translate into real cash that can fund buybacks, dividends or strategic acquisitions.
The Bear Case
Revenue is contracting at -5.7% year-over-year — until that trend reverses, valuation is exposed to further downgrades.
Valuation in Context
The PEG ratio at 1.01 sits in the reasonable zone — the price tag is roughly aligned with the company's growth profile, neither punishing nor euphoric.
Investment Thesis: Strengths & Weaknesses
- Profitable with 28.62% net margin
- High gross margin of 54.81% — indicates pricing power
- Analyst consensus: Buy
- Solid balance sheet with low debt (D/E 11.28)
- Positive free cash flow
- –Revenue shrinking (-5.7% YoY)
Technical Snapshot
Price trades above both the 50- and 200-day moving averages, with 50d above 200d — a classic bullish setup (golden-cross alignment).
Risk Profile
The data points to relatively defensive market behavior.
Trading Data
💵 Dividend Info
Related Stocks in the Same Sector
NORMA Group (NOEJ.DE) 2026: 17,74 EUR German Engineered-Joining-Technology Specialist with Automotive-Industrial-and-Water-Management Diversification, Restructuring Pivot and Cycle-Recovery Optionality
The Real Story
NORMA Group SE (Xetra: NOEJ) is a Maintal, Germany-headquartered manufacturer of engineered-joining-technology solutions including quick-connectors, clamps, fluid-handling-systems, and water-management products. Serves automotive (approximately 50 percent), industrial (approximately 25 percent), and water-management (approximately 25 percent) end-markets in Europe, Americas, and Asia-Pacific.
The 2023-2025 period: automotive-cycle-weakness plus restructuring under CEO Guido Grandi. Cost-base-reduction approximately 80 million EUR annual run-rate, plus portfolio-focus on higher-margin water-management-and-industrial segments. Dividend cut to current 0,14 EUR per share (0,79 percent yield).
What Smart Money Thinks
NORMA has German institutional base. Allianz Global Investors at approximately 6,2 percent, DWS Investment at approximately 4,8 percent. BlackRock at approximately 4,2 percent. Short-interest sits at approximately 4 percent of float as of May 2026.
Explore the BMI Smart-Money Tracker →
📈 The 3 Real Bull Points
Water-management segment benefits from climate-and-infrastructure tailwind (drinking-water-infrastructure-replacement, irrigation, wastewater). Approximately 8-12 percent annual revenue-growth structurally.
2024-2025 cost-base-rationalization approximately 80 million EUR plus portfolio-focus on higher-margin segments creates EBITDA-inflection 2026-2027.
Re-rating on cycle-recovery to 14-17x supports 19-23 EUR price range — 7-30 percent upside.
📉 The 3 Real Bear Points
European-OEM (Volkswagen, Stellantis, BMW, Mercedes) restructuring-and-cycle-weakness compresses NORMA's automotive-segment-revenue.
EV-transition reduces ICE-related-fluid-and-connector demand structurally. While NORMA has EV-thermal-management products, transition execution-risk material.
Forward-P/E 20,8x reflects EBITDA-inflection expectations. Cycle-recovery-disappointment would compress multiple materially.
Valuation in Context
NORMA Group at 17,74 EUR per share with approximately 28,7 million shares outstanding has a market capitalization of approximately 509 million EUR. With approximately 350 million EUR net-debt, enterprise value approximately 860 million EUR against trailing-twelve-month revenue of approximately 1,15 billion EUR (0,75x EV/sales).
On forward-earnings, NORMA trades at approximately 20,8x consensus fiscal-2026 EPS approximately 0,85 EUR. Applying peer-blended fair-multiple of 14-17x to fiscal-2027 EPS approximately 1,25 EUR produces fair-value range 18-21 EUR per share. Bear-case 12-14 EUR. Bull-case 24-28 EUR.
🗓️ Next 3 Catalyst Dates
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2026 Q3:
H1 2026 earnings (early August 2026). Watch-items: water-management growth, automotive-segment trajectory, cost-rationalization.
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2027 Q1:
Fiscal-2026 full-year results plus fiscal-2027 guidance.
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2027 H2:
European automotive-cycle-recovery milestones.
💬 Daniel's Take
NORMA Group is a cyclical-quality German engineered-joining-technology specialist with water-management structural growth, automotive-segment cycle-recovery optionality, and cost-rationalization EBITDA-inflection setup. Position-sizing: 0,3–0,8 percent.
Sources (3)
Disclaimer: This article is not investment advice. Investing in stocks carries risks, including total loss.
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