Phoenix Mecano AG delivered a standout Q2 2025 with a substantial year-over-year revenue uptick and a clean top-line expansion. Revenue of EUR 188.6 million rose 93.8% year over year (YoY) and doubled quarter over quarter (QoQ) to reflect strong demand across its three divisions, particularly Enclosure Systems, DewertOkin Technology Group, and Industrial Components. Gross profit reached EUR 96.2 million, delivering a gross margin of 51.0%, while operating income was EUR 10.7 million and net income EUR 6.95 million, translating to net margins near 3.7% and an EPS of EUR 7.47 for the quarter. The company maintains a resilient balance sheet with total assets at EUR 574.1 million and equity at EUR 246.2 million, supported by a cash position of EUR 86.8 million and a net debt of EUR 50.7 million. Cash flow from operations was EUR 6.0 million, but free cash flow was negative at EUR â3.9 million due to continued capital expenditure (EUR â9.9 million) and working capital dynamics. The stock trades at approximately a EUR-based valuation backdrop with a P/E around 7.9 and EV/EBITDA around 14.9, alongside a dividend yield of about 4.3%. While the top-line strength is encouraging, the company faces ongoing capital allocation considerations and cyclicality inherent to the Industrials sector. Investors should monitor order momentum, capital expenditure trajectories, and potential margin expansion driven by mix-shift and operating efficiency.