since 2003

Independent Equity Research
for Investors.

Welcome to Dr. Kalliwoda Research GmbH, your trusted partner for comprehensive equity research, also research for private equity and venture-Companies. Since 2003, we’ve been providing insightful analyses to help investors make informed decisions and our team organizes conferences and roadshows in global financial centers and provides specialized coverage for markets with high development potential. Explore our services and discover opportunities.

In our roadshows, we connect investors with companies, primarily across Europe.

Trusted by
Alteo Nyrt
Carl Zeiss Meditec AG
Hamborner REIT AG
Hornbach Holding
KSB SE
Navigator Investments Nyrt
BMW
Cliq
Daimler
Fielmann
Fraport
Lufthansa
Metzler
PSI
secunet AG
Volkswagen
What we do

Three pillars, one mission

Independent equity and bond research, capital-markets conferences, and investor roadshows. All built around the same disciplined fundamental analysis since 2003.

Upcoming Events

Capital markets conferences & roadshows

Join us at our international events and engage with capital market professionals across Europe.

600+
Roadshows since 2003
50+
Capital Markets Conferences
1,400+
Research analyses
17+
Years of independent research
Our Activities

Independent equity and bond research

Over 600 Roadshows and 50+ Conferences since 2003 and over 1,400 research analyses express our passion and experience for capital markets.

Founded in 2003, Dr. Kalliwoda Research GmbH is an independent supplier of equity and bond research. For over 17 years we have specialized in mid- and small-caps across sectors such as:

IT & Software
Engineering & Photonics
Media
Financial Services
Biotech & Pharma
Chemicals
Renewables
Utilities
Oil & Gas
Logistics

We focus on service, quality and clients. Our research is published on Bloomberg, Reuters, FactSet and more. We organize our own conferences and roadshows, always tailored to institutional investors.

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Our Team

Meet the analysts behind the research

An interdisciplinary team aligned with DVFA, CEFA and CFA standards.

The Research Team

The team consists of economists, biologists, chemists and engineers with longstanding industry expertise. They deliver independent, in-depth fundamental analysis with a transparent and disciplined investment style. Our focus lies on European growth and high-value companies with a market cap between EUR 20 million and EUR 10 billion, sometimes even higher.

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CEO and Founder

Dr. Norbert Kalliwoda, founder and CEO of DR. KALLIWODA RESEARCH GmbH, holds a PhD in Economics and is a Certified European Financial Analyst. Prior to founding the firm in 2003, he worked as a sell-side analyst for logistics and tech companies at A&A Actienbank. His career also includes roles as consultant in process management, sales executive for Templeton, and equity fund manager at DIT/dbi (now Allianz Global Investors).

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Primary Research

We continuously produce equity and bond research as well as sector reports, following the highest professional standards (CFA, CIIA, CEFA, DVFA).

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