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Nemetschek
(XETRA:NEM)
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Rating:70Outperform
Price Target:
€77.00
▲(16.84% Upside)
Action:Upgraded
Date:08/04/26
The score is driven primarily by strong financial quality (high profitability and solid cash conversion), tempered by slowing TTM growth and rising leverage. Technicals are mixed with neutral momentum but a weaker longer-term trend (below 100/200-day averages). Valuation is moderately premium (P/E ~27) with only a modest dividend yield, limiting upside from valuation support.
Positive Factors
Sustained Profitability
High and fairly steady operating and net margins indicate that Nemetschek converts revenue into earnings efficiently. This profitability provides internal funding for product development, cloud expansion, and customer support while offering resilience across the next several quarters.
Negative Factors
Rising Leverage
The recent increase in debt relative to equity and in total debt reduces balance-sheet flexibility compared with the prior year. Higher leverage can constrain capital allocation and make the company more sensitive to weaker operating performance or less favorable financing conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Profitability
High and fairly steady operating and net margins indicate that Nemetschek converts revenue into earnings efficiently. This profitability provides internal funding for product development, cloud expansion, and customer support while offering resilience across the next several quarters.
Read all positive factors
Nemetschek (NEM) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€8.10B
Dividend Yield0.95%
Average Volume (3M)232.44K
Price to Earnings (P/E)33.5
Beta (1Y)1.08
Revenue Growth12.75%
EPS Growth30.85%
CountryDE
Employees4,268
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Application
Share Statistics
EPS (TTM)2.13
Shares Outstanding115,500,000
10 Day Avg. Volume207,650
30 Day Avg. Volume232,438
Financial Highlights & Ratios
PEG Ratio2.08
Price to Book (P/B)11.54
Price to Sales (P/S)9.00
P/FCF Ratio29.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€87.00Price Target Upside32.02% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)2.2
Revenue Forecast (FY)€1.40B
Nemetschek Business Overview & Revenue Model
Company Description
Nemetschek SE is a German-based global provider of software solutions specializing in the architecture, engineering, construction (AEC), and media and entertainment industries. The company's reach extends across Germany, the rest of Europe, the Am...
How the Company Makes Money
Nemetschek makes money primarily by licensing and subscribing customers to its software products and related cloud services. A core revenue stream comes from recurring software subscriptions (including term subscriptions and cloud-based offerings)...
Nemetschek Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
79
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.26B | 1.19B | 995.57M | 851.56M | 801.81M | 681.47M |
| Gross Profit | 598.83M | 587.98M | 590.63M | 398.61M | 478.16M | 404.28M |
| EBITDA | 398.24M | 372.74M | 312.39M | 265.80M | 260.91M | 223.00M |
| Net Income | 246.37M | 217.20M | 175.42M | 161.26M | 161.90M | 134.62M |
Balance Sheet | ||||||
| Total Assets | 2.42B | 2.18B | 2.14B | 1.27B | 1.20B | 1.05B |
| Cash, Cash Equivalents and Short-Term Investments | 392.06M | 258.37M | 210.52M | 269.40M | 199.31M | 158.31M |
| Total Debt | 550.25M | 404.53M | 569.87M | 76.34M | 149.24M | 194.74M |
| Total Liabilities | 1.36B | 1.21B | 1.19B | 492.43M | 508.90M | 512.53M |
| Stockholders Equity | 1.02B | 929.05M | 906.46M | 746.58M | 653.27M | 525.86M |
Cash Flow | ||||||
| Free Cash Flow | 347.96M | 368.14M | 293.08M | 240.20M | 194.76M | 204.44M |
| Operating Cash Flow | 363.00M | 381.89M | 306.80M | 252.88M | 213.78M | 214.36M |
| Investing Cash Flow | -162.82M | -81.72M | -707.11M | -37.85M | -52.41M | -147.62M |
| Financing Cash Flow | -45.64M | -236.51M | 331.79M | -139.37M | -123.98M | -55.35M |
Nemetschek Technical Analysis
Positive
65.90
Price Trends
62.65
Positive
60.34
Positive
64.62
Positive
Market Momentum
1.29
Negative
70.01
Negative
87.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:NEM, the sentiment is Positive. The current price of 65.9 is above the 20-day moving average (MA) of 62.56, above the 50-day MA of 62.65, and above the 200-day MA of 64.62, indicating a bullish trend. The MACD of 1.29 indicates Negative momentum. The RSI at 70.01 is Negative, neither overbought nor oversold. The STOCH value of 87.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:NEM.
Nemetschek Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | €227.04B | 28.80 | 17.60% | 1.27% | 6.42% | 22.22% | |
74 Outperform | €174.35M | 14.01 | 30.98% | 3.08% | 7.53% | 36.30% | |
70 Outperform | €8.10B | 33.50 | 25.76% | 0.95% | 12.75% | 30.85% | |
69 Neutral | €1.10B | 8.42 | 68.55% | ― | 5.39% | 3.05% | |
66 Neutral | €93.18M | 14.83 | 12.95% | 0.27% | -0.58% | ― | |
66 Neutral | €585.76M | 17.82 | 42.20% | 11.40% | -8.23% | 10.46% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
DE:NEM
Nemetschek
71.35
-33.43
-31.90%
DE:CSH
Cenit AG
9.20
2.08
29.21%
DE:SAP
SAP SE
197.28
-31.54
-13.78%
DE:TMV
TeamViewer AG
6.99
-1.21
-14.76%
DE:MUM
Mensch und Maschine Software SE
35.10
-8.69
-19.85%
DE:FAA
Fabasoft AG
16.25
0.54
3.46%
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.