SCHMID Group N.V.
SHMD, SHMDW · Misc Industrial & Commercial Machinery & Equipment · EDGAR filings ↗
Grade
D44German electronics/glass-substrate equipment maker in acute liquidity distress with recent NASDAQ delisting proceedings and emergency financings.
Strengths
- Glass-substrate/embedded-traces technology with growing defense end-market exposure
- Regained NASDAQ compliance and secured rescue debt/convertible financing
Risks
- Liquidity distress: current ratio 0.60, quick 0.45, negative interest coverage (-14.3)
- Revenue down 36%, operating margin -134%; positive ROE is a negative-equity artifact
- Late-filing/delisting history and dependence on dilutive creditor set-offs and convertibles
Notable findings
- No interest coverageInterest coverage -14.32 (cannot cover interest)
- Net lossNet loss (net margin -138.2%)
- Weak liquidityCurrent ratio 0.61 (<1)
- Revenue declineRevenue -36.5% YoY
Key metrics
Gross margin
19.8%
Operating margin
-134.4%
Net margin
-138.2%
Return on equity
139.1%
Return on assets
-90.3%
Revenue growth (QoQ)
-36.5%
Net-income growth
-308.7%
Interest coverage
-14.3×
Current ratio
0.6×
Tangible book value
-$63M
Cash & investments
$4M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-05-15 | 2025-12-31 | 0001104659-26-062643 ↗ |
| 20-F | 2026-02-13 | 2024-12-31 | 0001104659-26-014740 ↗ |
| 20-F | 2024-05-15 | 2023-12-31 | 0001104659-24-062029 ↗ |