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Deutsche Boerse
(XETRA:DB1)
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Rating:77Outperform
Price Target:
€305.00
▲(18.17% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial performance (durable high margins and robust free cash flow) and supportive technicals (price above major moving averages with positive MACD). The main constraint is valuation, with a mid-20s P/E and a modest dividend yield, alongside a recent slowdown in revenue growth.
Positive Factors
High and Stable Profitability
Sustained high operating and net margins reflect durable pricing power and scale in market infrastructure. High margins support reinvestment, dividends and reserves across cycles, making earnings resilient and enabling consistent internal funding of growth initiatives over the medium term.
Negative Factors
Recent Revenue Growth Slowdown
A marked slowdown to low single‑digit top‑line growth signals maturation and potential revenue pressure. If persistent, lower growth can limit margin expansion, reduce incremental free cash flow growth, and constrain long‑term investments or shareholder return potential.
Read all positive and negative factors
Positive Factors
Negative Factors
High and Stable Profitability
Sustained high operating and net margins reflect durable pricing power and scale in market infrastructure. High margins support reinvestment, dividends and reserves across cycles, making earnings resilient and enabling consistent internal funding of growth initiatives over the medium term.
Read all positive factors
Deutsche Boerse (DB1) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€47.17B
Dividend Yield1.6%
Average Volume (3M)389.02K
Price to Earnings (P/E)22.6
Beta (1Y)0.39
Revenue Growth5.21%
EPS Growth2.78%
CountryDE
Employees17,120
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Data & Stock Exchanges
Share Statistics
EPS (TTM)11.63
Shares Outstanding186,300,000
10 Day Avg. Volume317,311
30 Day Avg. Volume389,018
Financial Highlights & Ratios
PEG Ratio7.25
Price to Book (P/B)3.62
Price to Sales (P/S)5.52
P/FCF Ratio14.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€275.50Price Target Upside6.74% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)12.67
Revenue Forecast (FY)€6.52B
Deutsche Boerse Business Overview & Revenue Model
Company Description
Deutsche Börse AG operates as a leading exchange organization with a global reach, spanning Europe, the Americas, and the Asia-Pacific region. Its operations are structured across seven key divisions: Eurex, focused on financial derivatives; EEX, ...
How the Company Makes Money
Deutsche Börse makes money by charging fees for using its market infrastructure and selling information and analytics products. Key revenue streams include: (1) Trading & listing-related revenues: transaction fees and related charges from activity...
Deutsche Boerse Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
72
Positive
Cash Flow
80
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.80B | 7.42B | 7.02B | 6.10B | 5.23B | 4.36B |
| Gross Profit | 5.69B | 5.02B | 4.10B | 3.61B | 4.23B | 2.25B |
| EBITDA | 3.68B | 3.51B | 3.42B | 2.98B | 2.57B | 2.07B |
| Net Income | 2.12B | 2.00B | 1.95B | 1.72B | 1.49B | 1.21B |
Balance Sheet | ||||||
| Total Assets | 404.73B | 297.18B | 222.40B | 237.73B | 269.11B | 222.92B |
| Cash, Cash Equivalents and Short-Term Investments | 27.74B | 19.33B | 130.41B | 140.50B | 138.23B | 110.97B |
| Total Debt | 33.76B | 8.14B | 9.58B | 8.72B | 5.36B | 6.32B |
| Total Liabilities | 393.99B | 285.56B | 210.85B | 227.63B | 260.05B | 215.18B |
| Stockholders Equity | 10.36B | 11.31B | 10.77B | 9.66B | 8.47B | 7.19B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 2.75B | 2.05B | 2.28B | 2.16B | 702.50M |
| Operating Cash Flow | 0.00 | 2.81B | 2.41B | 2.55B | 2.48B | 908.90M |
| Investing Cash Flow | 0.00 | 22.00M | -60.00M | -4.00B | -1.41B | -2.17B |
| Financing Cash Flow | 0.00 | -1.89B | -1.35B | 2.29B | -951.10M | 798.70M |
Deutsche Boerse Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | €47.17B | 22.55 | 19.71% | 1.63% | 5.21% | 2.78% | |
72 Outperform | €600.23M | 17.01 | 13.18% | 2.42% | 1.76% | -18.57% | |
65 Neutral | €42.47B | 17.69 | 8.19% | 2.99% | -4.17% | -0.03% | |
64 Neutral | €549.06M | 19.42 | 7.56% | ― | 0.04% | 90.09% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
43 Neutral | €459.64M | -1.49 | -10.36% | 4.30% | -25.75% | -496.17% |
* General Sector Average
DE:DB1
Deutsche Boerse
274.10
17.67
6.89%
DE:CBK
Commerzbank
39.00
4.25
12.23%
DE:PBB
Deutsche Pfandbriefbank
3.44
-1.94
-36.08%
DE:GFT
GFT Technologies
23.65
7.06
42.58%
DE:HYQ
HYPOPORT
87.80
-82.80
-48.53%
DE:EUX
EUWAX AG
47.60
2.16
4.75%
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.