CSG N.V. (CSG.AS) stock analysis

In our weekly check, CSG N.V. is graded C (A to F). Of 23 checks on debt, profit, cash flow and trend: 14 pass, warnings: 4, red flags: 5.

About CSG N.V.

CSG N.V. is an Industrials company (Aerospace & Defense) based in the Netherlands, listed on AMS as CSG.AS.

What our checks show for CSG.AS

Red flags

• Operating cash flow is negative while the company reports a profit: the profit does not arrive as cash.
• Revenue fell 35.3% a year over the last 3 years.
• Free cash flow is negative (-4% of revenue): the business spends more cash than it brings in.
• The price swings a lot: 64.5% annual volatility. Expect large ups and downs.
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Net debt is 2x a year of EBITDA (debt/equity 1.47). That limits room in a downturn and raises refinancing risk.
• Operating profit covers interest only 3 times: a weak year could make the payments hard.
• Earnings per share fell 38.8% a year over the last 3 years.
• Net profit fell 38.4% a year over the last 3 years.

Strengths

• The net margin rose by 1.8 points over 5 years, to 10.3%.
• Analysts expect earnings per share to grow about 35.6% a year over the next years.
• Analysts expect the net margin to improve by 6.3 points from today's 10.3%.
• The dividend takes 7% of profit: there is a cushion.
• A large company: market value $14.53 billion.
• Beta 0.66: the stock usually moves less than the market.

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Questions

What grade does CSG N.V. (CSG.AS) have?

In our weekly check, CSG N.V. is graded C (A to F). Of 23 checks on debt, profit, cash flow and trend: 14 pass, warnings: 4, red flags: 5. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of CSG.AS stock?

This week's biggest flags for CSG N.V.: Profits not backed by cash, Weak revenue growth, Weak free cash flow. In total 9 of 23 checks show a warning or a red flag.

What does CSG N.V. do?

CSG N.V. is an Industrials company (Aerospace & Defense) based in the Netherlands, listed on AMS as CSG.AS.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-11-07

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