DB1 Stock Analysis: Deutsche Börse | XETRA
Financial Data & Stock Exchanges | XETRA, Germany | Market Cap: 46.532m EUR | 12M Return: 7.2% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 73.9M
EPS Trend: 97.7%
Qual. Beats: 0
Rev. Trend: 4.1%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Deutsche Börse AG is a Frankfurt-headquartered international exchange organization operating across Germany, the rest of Europe, the United States, and the Asia-Pacific region. Founded in 1585, the company runs four business segments: Investment Management Solutions (data, analytics, indices, and SaaS for institutional investors, banks, and corporates), Trading & Clearing (market infrastructure and clearing houses for securities, derivatives, commodities, currencies, and digital assets), Fund Services (order routing, settlement, custody, and distribution for investment funds), and Securities Services (issuance, settlement, custody, collateral, securities lending, and liquidity management).
As a major operator within the GICS Financial Exchanges & Data sub-industry, Deutsche Börse combines exchange trading, post-trade infrastructure, and financial data services under one roof, allowing it to generate a mix of transaction-based, recurring, and asset-linked revenues. Exchanges in this segment typically benefit from strong network effects, high regulatory barriers to entry, and a utility-like cost structure, with clearing and settlement services representing critical financial market infrastructure.
- Eurex derivatives volumes rise on market volatility and hedging demand
- Securities lending income pressured as central banks cut rates
- Index licensing revenue expands on passive investing and ETF growth
| Net Income: 2.12b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -0.02 > 1.0 |
| NWC/Revenue: -3.95k% < 20% (prev 46.74%; Δ -3.99k% < -1%) |
| CFO/TA 0.01 > 3% & CFO 2.81b > Net Income 2.12b |
| Net Debt (6.54b) to EBITDA (3.68b): 1.78 < 3 |
| Current Ratio: 0.09 > 1.5 & < 3 |
| Outstanding Shares: last quarter (180.6m) vs 12m ago -1.59% < -2% |
| Gross Margin: 72.93% > 18% (prev 54.28%; Δ 18.66% > 0.5%) |
| Asset Turnover: 2.23% > 50% (prev 2.46%; Δ -0.22% > 0%) |
| Interest Coverage Ratio: 20.56 > 6 (EBIT TTM 3.17b / Interest Expense TTM 154.0m) |
| A: -0.76 (Total Current Assets 29.2b - Total Current Liabilities 337b) / Total Assets 405b |
| B: 0.02 (Retained Earnings 9.29b / Total Assets 405b) |
| C: 0.01 (EBIT TTM 3.17b / Avg Total Assets 349b) |
| D: 0.03 (Book Value of Equity 10.4b / Total Liabilities 394b) |
| Altman-Z'' = -4.83 = D |
| DSRI: 0.53 (Receivables 1.19b/2.08b, Revenue 7.80b/7.23b) |
| GMI: 0.74 (GM 54.28% / 72.93%) |
| AQI: 11.55 (AQ_t 0.93 / AQ_t-1 0.08) |
| SGI: 1.08 (Revenue 7.80b / 7.23b) |
| TATA: -0.00 (NI 2.12b - CFO 2.81b) / TA 405b) |
| Beneish M = 2.66 (Cap -4..+1) = D |
As of July 28, 2026, the stock is trading at EUR 263.40 with a total of 296,496 shares traded. Over the past week, the price has changed by +3.21%, over one month by +10.49%, over three months by +0.60% and over the past year by +7.20%.
Current recommended Stop Loss: 255.20 (which is 3.1% or 1.4 ATR below the current price).
Deutsche Börse has no consensus analysts rating.
P/E Trailing = 22.25
P/E Forward = 20.79
P/S = 6.0049
P/B = 4.408
P/EG = 3.1812
Revenue TTM = 7.80b EUR
EBIT TTM = 3.17b EUR
EBITDA TTM = 3.68b EUR
Long Term Debt = 5.09b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 27.6b EUR (from shortTermDebt, last quarter)
Debt = 34.3b EUR (from shortLongTermDebtTotal, last quarter) + Leases 521.0m
Net Debt = 6.54b EUR (calculated: Debt 34.3b - CCE 27.7b)
Enterprise Value = 53.1b EUR (46.5b + Debt 34.3b - CCE 27.7b)
Interest Coverage Ratio = 20.56 (Ebit TTM 3.17b / Interest Expense TTM 154.0m)
EV/FCF = 19.26x (Enterprise Value 53.1b / FCF TTM 2.75b)
FCF Yield = 5.19% (FCF TTM 2.75b / Enterprise Value 53.1b)
FCF Margin = 35.32% (FCF TTM 2.75b / Revenue TTM 7.80b)
Net Margin = 27.12% (Net Income TTM 2.12b / Revenue TTM 7.80b)
Gross Margin = 72.93% ((Revenue TTM 7.80b - Cost of Revenue TTM 2.11b) / Revenue TTM)
Gross Margin QoQ = 66.93% (prev 59.01%)
Tobins Q-Ratio = 0.13 (Enterprise Value 53.1b / Total Assets 405b)
Interest Expense / Debt = 0.45% (Interest Expense 154.0m / Debt 34.3b)
Taxrate = 26.70% (808.6m / 3.03b)
NOPAT = 2.32b (EBIT 3.17b * (1 - 26.70%))
Current Ratio = 0.09 (Total Current Assets 29.2b / Total Current Liabilities 337b)
Debt / Equity = 3.31 (Debt 34.3b / totalStockholderEquity, last quarter 10.4b)
Debt / EBITDA = 1.78 (Net Debt 6.54b / EBITDA 3.68b)
Debt / FCF = 2.37 (Net Debt 6.54b / FCF TTM 2.75b)
Total Stockholder Equity = 10.7b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.61% (Net Income 2.12b / Total Assets 405b)
RoE = 19.71% (Net Income TTM 2.12b / Total Stockholder Equity 10.7b)
RoCE = 20.02% (EBIT 3.17b / Capital Employed (Equity 10.7b + L.T.Debt 5.09b))
RoIC = 0.57% (NOPAT 2.32b / Invested Capital 404b)
WACC = 3.35% (E(46.5b)/V(80.8b) * Re(5.57%) + D(34.3b)/V(80.8b) * Rd(0.45%) * (1-Tc(0.27)))
Discount Rate = 5.57% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -91.29 | Cagr: -0.89%
[DCF] Terminal Value 77.97% ; FCFF base≈2.47b ; Y1≈2.83b ; Y5≈4.17b
[DCF] Fair Price = 312.0 (EV 62.8b - Net Debt 6.54b = Equity 56.2b / Shares 180.3m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 97.66 | EPS CAGR: 9.03% | SUE: 0.56 | # QB: 0
Revenue Correlation: 4.15 | Revenue CAGR: 0.69% | SUE: 0.65 | # QB: 0
EPS current Quarter (2026-09-30): EPS=3.09 | Chg30d=+2.63% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=12.89 | Chg30d=+4.77% | Revisions=+17% | GrowthEPS=+18.2% | GrowthRev=+7.9%
EPS next Year (2027-12-31): EPS=13.43 | Chg30d=+1.31% | Revisions=+0% | GrowthEPS=+4.2% | GrowthRev=+4.2%
[Analyst] Revisions Ratio: +22% (up=4, down=2)