Equity Research Since 2003

Welcome to Dr. Norbert Kalliwoda Research, your trusted partner for comprehensive equity research. Since 2003, we’ve been providing insightful analyses to help investors make informed decisions. Explore our services and discover opportunities.We do also research for private equity and venture-Companies.

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Upcoming Conferences & Roadshows

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

Madrid Conference
19. Dr. Kalliwoda Madrid & Barcelona Conference

21. May online & 22. May & 23. May 2025 on site

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Warsaw Conference
ANNIVERSARY Year! 26. Dr. Kalliwoda Warsaw Conference

4 days! On site on 3 & 4 June and online 5 & 6 June 2025

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London Roadshow
6. Dr. Kalliwoda London Roadshow

10. September 2025 onsite

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Our Activities

Over 600 Roadshows and 50+ Conferences since 2003 and over 1400 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 & Pharmaceuticals
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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The Team

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). He is a regular guest on Deutsche Börse AG panels and TV broadcasts.

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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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