Nordex SE

Nordex, based in Hamburg, designs and builds onshore wind turbines and installs them for utilities and developers around the world. It sits squarely in the long-term shift to renewable energy, but the industry has been squeezed by cost inflation, supply-chain strains and fierce price competition. Nordex pays no dividend, directing its cash toward returning to sustained profitability, which leaves its score low. This is a recovery and energy-transition story for investors betting that the wind-turbine business finally turns durably profitable, not an income holding.