Saturday 17 October 2026
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Advent Technologies Holdings, Inc.
ADNH Industrials Electrical Equipment & Parts
In the quarter to September 2025, revenue fell 51.6%, EPS grew 143.5% and free cash flow fell 96.3%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Trend | 2025e | 2026e | 2027e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | — | 288.30 | 295.50 | 196.80 | 33.90 | 5.85 | 1.71 |
Analyst estimates 2025–2027 Powerpack |
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| High | — | — | — | — | 304.20 | 514.95 | 576.30 | 212.40 | 62.70 | 9.53 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | 4 | 4 | 5 | 200 | 175 | 100 | 31 | ||||
| Revenue/emp, $m | — | — | — | 0.00 | 0.00 | 0.18 | 0.04 | 0.04 | 0.02 | 0.11 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 1 | 7 | 8 | 2 | 3 | ||||
| Gross margin, % | — | — | — | — | — | 41.78 | 23.53 | (9.49) | (353.39) | 54.58 | |||||
| EBT | — | — | — | 0 | 23 | (3) | (21) | (76) | (51) | (30) | |||||
| EBT margin, % | — | — | — | 0.00 | 0.00 | (353.57) | (303.38) | (973.68) | (3,319.27) | (917.86) | |||||
| Net income | — | — | 0 | 0 | 22 | (3) | (21) | (74) | (71) | (41) | |||||
| Depreciation | — | — | — | — | — | 0 | 2 | 43 | 12 | 2 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | — | 0.00 | 0.00 | 1.29 | 4.63 | 4.56 | 0.80 | 1.25 | ||||
| Earnings | — | — | — | 0.37 | 79.13 | (4.57) | (13.51) | (43.24) | (37.24) | (15.65) | |||||
| Cash flow | — | — | — | (0.64) | (2.32) | (2.09) | (23.49) | (18.70) | (10.94) | 0.53 | |||||
| Capex | — | — | — | 0.00 | 0.00 | (0.18) | (2.58) | (6.78) | (1.14) | 0.46 | |||||
| Free cash flow | — | — | — | (0.64) | (2.32) | (2.26) | (26.07) | (25.48) | (12.08) | 1.00 | |||||
| Book value | — | — | — | 1,204.22 | 760.71 | (2.62) | 85.34 | 37.35 | 7.01 | (8.13) | |||||
| Shares, m | — | — | — | 0 | 0 | 1 | 2 | 2 | 2 | 3 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| P/S | — | — | — | — | — | 346.72 | 45.39 | 11.05 | 8.24 | 4.00 | |||||
| P/B | — | — | — | — | — | 0.00 | 2.46 | 1.35 | 0.94 | 0.00 | |||||
| EV/Sales | — | — | — | — | — | 349.27 | 34.49 | 8.39 | 13.33 | 4.22 | |||||
| EV/FCF | — | — | — | — | — | (199.21) | (6.13) | (1.50) | (0.88) | 5.51 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | 0 | (1) | (1) | (36) | (32) | (21) | 1 | ||||
| Capex | — | — | — | — | — | 0 | (4) | (12) | (2) | 1 | |||||
| Free cash flow | — | — | — | 0 | (1) | (2) | (40) | (44) | (23) | 3 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | — | 1 | (1) | (2) | 78 | 36 | (3) | (26) | ||||
| Total debt | — | — | — | — | — | 3 | — | 2 | — | 1 | |||||
| Net debt | — | — | — | (1) | (1) | (1) | (80) | (33) | (3) | 0 | |||||
| Shareholders’ equity | — | — | — | 214 | 207 | (2) | 130 | 64 | 13 | (21) | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | — | (0.02) | 9.60 | (2.74) | (24.89) | (58.85) | (114.86) | (191.81) | ||||
| ROIC | — | — | — | (0.03) | (0.21) | 0.00 | (54.66) | (170.70) | (312.33) | 0.00 | |||||
| ROE | — | — | — | (0.02) | 10.22 | (3.05) | (31.97) | (76.50) | (184.02) | 1,044.83 | |||||
Negative figures in brackets.
Fiscal years to Dec 2024 · latest quarter Sep 2025 · fundamentals updated 1 Oct 2026
Charts ten years each
Advent Technologies Holdings, Inc. vs peers in Electrical Equipment & Parts (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| NXUR Nxu, Inc. | $6.1M | — (loss-making) | 27.1× | −75.00% (below 0%: shrinking) | n/m | +61.06% (above 0%: growing) | (2,100.00%) | (256,000.00%) | Compare |
| DFLI Dragonfly Energy Holdings Corp. | $5.5M | — (loss-making) | — (loss-making) | −19.01% (below 0%: shrinking) | n/m | +47.29% (above 0%: growing) | 33.00% | (22.03%) | Compare |
| CCTG CCSC Technology International Holdings Limited | $5.2M | — | — | — | — | −99.66% (below 0%: shrinking) | — | — | Compare |
| POLA Polar Power, Inc. | $4.1M | — (loss-making) | — (loss-making) | −62.37% (below 0%: shrinking) | n/m | +104.95% (above 0%: growing) | (33.07%) | (163.98%) | Compare |
| XPON Expion Energy, Inc. | $4.0M | — (loss-making) | — (loss-making) | −32.10% (below 0%: shrinking) | n/m | −270.31% (below 0%: shrinking) | 32.43% | (64.10%) | Compare |
| ADNH Advent Technologies Holdings, Inc. | $3.0M | — (loss-making) | 17.5× | −51.56% (below 0%: shrinking) | n/m | −96.29% (below 0%: shrinking) | (604.84%) | (3,829.03%) | |
| ELPW Elong Power Holding Limited | $2.2M | — | — | — | n/m | +54.73% (above 0%: growing) | — | — | Compare |
| SDST Stardust Power Inc. | $1.7M | — (loss-making) | — | — | n/m | −21.02% (below 0%: shrinking) | — | 0.00% | Compare |
| LNKS Linkers Industries Limited | $1.5M | — | — | — | — | −360.36% (below 0%: shrinking) | — | — | Compare |
| Median of peers | $4.1M | — | — | −47.24% | — | +13.14% | (0.32%) | (64.10%) |
Advent Technologies Holdings, Inc. (ADNH) key facts
- Advent Technologies Holdings, Inc. (ADNH) is an Electrical Equipment & Parts company in the Industrials sector.
- Return on equity was 1,044.8% and debt-to-equity -0.10.
- Its Piotroski F-score is 5 out of 9 and its Altman Z-score is −49.29 (distress zone) for fiscal 2024.