Borussia Dortmund GmbH & Co. KGaA (BVB) AI Stock Analysis

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Borussia Dortmund GmbH & Co. KGaA

(XETRA:BVB)

Select Model

Rating:50Neutral

Price Target:EUR 3.00▼(-3.23% Downside)

Action:reiterated

Date:10/03/26

The score is held back primarily by the 2026 deterioration in financial performance (revenue decline and return to losses) and weak technical momentum (negative MACD, price below key moving averages). A solid balance sheet with low leverage and positive operating/free cash flow in the latest year provides partial support, while valuation is constrained by a negative P/E despite a modest dividend yield.

Positive Factors

Diversified Revenue ModelMultiple revenue streams reduce reliance on any single activity and give BVB several ways to monetize its club, stadium and brand. Matchday, media, sponsorship, merchandise and transfers can complement one another, supporting resilience across different sporting and commercial conditions.

Negative Factors

Revenue and Profitability ReversalThe latest reversal weakens confidence in near-term earnings durability after revenue rose from 2021 through 2025. A return to losses, negative EBIT and margin compression can limit reinvestment capacity and make results more dependent on a recovery in operating performance.

Borussia Dortmund GmbH & Co. KGaA (BVB) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 342.17M
Dividend Yield: 1.93%
Average Volume (3M): 90.12K
Price to Earnings (P/E): -15.6
Beta (1Y): 0.66
Revenue Growth: -12.46%
EPS Growth: -434.13%
Country: Germany
Employees: 1,000
Sector: General
Sector Strength: 55
Industry: Entertainment

Borussia Dortmund GmbH & Co. KGaA Business Overview & Revenue Model

Company Description

Borussia Dortmund GmbH & Co. Kommanditgesellschaft auf Aktien is a German company primarily engaged in managing a professional football club based in Dortmund, operating under the SIGNAL IDUNA PARK brand. Beyond its core team operations, the company...

How the Company Makes Money

BVB generates revenue through multiple, diversified streams typical of an elite football club. (1) Matchday revenue: income from home matches, primarily from ticket sales (season tickets and individual match tickets) and stadium-related receipts such...

Borussia Dortmund GmbH & Co. KGaA Financial Statement Overview

Summary

Mixed fundamentals: revenue and profitability reversed in 2026 (revenue down ~11% and net margin turning negative), weighing on confidence in earnings durability. Offsetting this, the balance sheet is comparatively solid with low leverage (debt-to-equity ~0.13 in 2026) and operating cash flow remains positive with improved levels; free cash flow is positive in 2025–2026 but historically volatile.

Income Statement

44Neutral

Balance Sheet

72Positive

Cash Flow

56Neutral

Financial statement breakdown
Breakdown	TTM	Jun 2026	Jun 2025	Jun 2024	Jun 2023	Jun 2022
Income Statement
Total Revenue	460.47M	460.50M	573.82M	509.11M	418.24M	351.64M
Gross Profit	241.77M	-40.46M	546.46M	476.40M	394.13M	329.00M
EBITDA	84.65M	84.65M	115.85M	158.16M	126.78M	85.02M
Net Income	-21.73M	-21.70M	6.50M	44.31M	9.55M	-31.89M
Balance Sheet
Total Assets	579.96M	579.96M	615.65M	589.68M	511.83M	455.06M
Cash, Cash Equivalents and Short-Term Investments	3.67M	3.67M	20.63M	4.36M	4.50M	10.57M
Total Debt	39.72M	39.72M	47.11M	40.58M	34.59M	17.18M
Total Liabilities	281.21M	281.21M	289.32M	262.67M	229.13M	185.28M
Stockholders Equity	298.75M	298.75M	326.33M	327.01M	282.70M	273.15M
Cash Flow
Free Cash Flow	-38.40M	52.11M	48.78M	-92.86M	-93.44M	-46.04M
Operating Cash Flow	63.89M	63.89M	57.71M	47.20M	54.43M	35.07M
Investing Cash Flow	-66.17M	-66.17M	-36.73M	-51.59M	-76.75M	-51.36M
Financing Cash Flow	-14.68M	-14.68M	-4.71M	4.25M	16.25M	25.14M

Borussia Dortmund GmbH & Co. KGaA Technical Analysis

Technical Analysis SentimentPositive

Last Price3.10

Price Trends

50DMA3.14Negative

100DMA3.11Negative

200DMA3.12Negative

Market Momentum

MACD-0.01Negative

RSI52.69Neutral

STOCH59.24Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:BVB, the sentiment is Positive. The current price of 3.10 is above the 20-day moving average (MA) of 3.06, below the 50-day MA of 3.14, and below the 200-day MA of 3.12, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 52.69 is Neutral, neither overbought nor oversold. The STOCH value of 59.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:BVB.

Borussia Dortmund GmbH & Co. KGaA Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

DE:BVB against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DE:EVD	81Outperform	EUR 5.95B	19.39	28.84%	2.32%	13.70%	8.69%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
DE:BVB	50Neutral	EUR 342.17M	-15.62	-6.62%	1.93%	-12.46%	-434.13%
DE:PSM	41Neutral	EUR 739.64M	-8.95	-7.26%	0.00%	-8.23%	-7.87%
DE:ACX	33Underperform	EUR 17.90M	21.24	3.68%	―	-12.06%	47.14%

* General Sector Average

Performance Comparison

DE:BVB and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:BVB	Borussia Dortmund GmbH & Co. KGaA	3.10	-0.22	-6.74%
DE:ACX	bet at home.com	2.55	0.03	1.19%
DE:EVD	CTS Eventim AG & Co. KGaA	62.00	-16.53	-21.05%
DE:LOU	DE Deutsche Entertainment	2.52	-1.02	-28.81%
DE:PSM	ProSiebenSat.1 Media SE	3.26	-1.63	-33.40%
DE:WIG1	SPORTTOTAL AG	―	―	―

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 03, 2026

Borussia Dortmund GmbH & Co. KGaA AI Stock Analysis