Elmos stock gains as Q3 growth meets unchanged 2026 targets

Elmos stock traded at 117.20 euros on Lang & Schwarz at 17:14 CET on Thursday, November 12, 2026, 1.56 percent above the Xetra close of Wednesday, November 11, at 115.40 euros, and 1.21 percent above the 115.80-euro quote in our report at 10:08 CET the same day.

Strong quarter, steady annual targets

Elmos Semiconductor reported the third-quarter and nine-month results on November 10, 2026. In its Q3 2026 release, the company said revenue rose 18.4 percent year over year to 166.7 million euros.

Operating EBIT increased 29.2 percent to 41.0 million euros. The operating EBIT margin reached 24.6 percent, compared with 22.5 percent a year earlier. Reported EBIT was 49.5 million euros, with favorable valuation effects contributing to the difference from operating EBIT.

Cash conversion remains central

Operating adjusted free cash flow was 32.3 million euros in the quarter, equal to 19.4 percent of sales. For the first nine months, the measure rose 60.9 percent year over year to 87.8 million euros, while the margin improved to 18.2 percent from 13.2 percent.

Sales for the first nine months reached 481.2 million euros, up 16.4 percent. Operating EBIT increased 33.6 percent to 116.8 million euros, lifting the nine-month operating margin to 24.3 percent.

Fourth quarter becomes the next test

Elmos kept its 2026 targets unchanged. The company continues to expect sales growth of 12 percent plus or minus 2 percentage points, an operating EBIT margin of 23 to 26 percent, capital expenditure of about 5 percent of sales and an operating adjusted free-cash-flow margin of 19 percent plus or minus 2 percentage points.

The unchanged ranges leave fourth-quarter execution as the next key checkpoint. For investors, the combination of higher operating profitability and stronger nine-month cash generation supports the growth case, while the absence of higher annual targets keeps delivery against the existing range in focus.

German semiconductor shares remain sensitive to vehicle production, supply conditions and demand expectations; the DAX market environment provides the broader reference for German equities.

More news and analyses on Elmos stock.