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Nemetschek SE (DE:NEM)
XETRA:NEM
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Nemetschek (NEM) AI Stock Analysis

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DE:NEM

Nemetschek

(XETRA:NEM)

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Outperform 70 (OpenAI - Gpt-5.6Sol)
Rating:70Outperform
Price Target:
€72.00
▲(9.26% 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
Recurring Revenue Model
A large recurring-revenue base from subscriptions, maintenance and support can improve visibility, retention and cash-flow planning. The installed user base also creates opportunities for renewals, product upgrades and cross-selling across Nemetschek’s specialized brands.
Negative Factors
Slowing Revenue Growth
The sharp slowdown in trailing revenue growth could signal tougher comparisons, slower customer adoption or a maturing core market. If sustained, it may reduce operating leverage and make future earnings expansion more dependent on pricing, retention and acquisitions.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Revenue Model
A large recurring-revenue base from subscriptions, maintenance and support can improve visibility, retention and cash-flow planning. The installed user base also creates opportunities for renewals, product upgrades and cross-selling across Nemetschek’s specialized brands.
Read all positive factors

Nemetschek (NEM) vs. iShares MSCI Germany ETF (EWG)

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 primarily makes money by licensing and subscribing its software products to professional customers and organizations, and by providing related maintenance and support. Its revenue model is dominated by recurring software revenues (subsc...

Nemetschek Financial Statement Overview

Summary
Strong profitability and solid cash conversion support a high-quality financial profile. Offsetting factors include slower TTM revenue growth, more volatile/lower TTM gross margin versus recent annual levels, and a recent rise in leverage (higher debt relative to equity and higher total debt).
Income Statement
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
79
Positive
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue1.26B1.19B995.57M851.56M801.81M681.47M
Gross Profit598.83M587.98M590.63M398.61M478.16M404.28M
EBITDA398.24M372.74M312.39M265.80M260.91M223.00M
Net Income246.37M217.20M175.42M161.26M161.90M134.62M
Balance Sheet
Total Assets2.42B2.18B2.14B1.27B1.20B1.05B
Cash, Cash Equivalents and Short-Term Investments392.06M258.37M210.52M269.40M199.31M158.31M
Total Debt550.25M404.53M569.87M76.34M149.24M194.74M
Total Liabilities1.36B1.21B1.19B492.43M508.90M512.53M
Stockholders Equity1.02B929.05M906.46M746.58M653.27M525.86M
Cash Flow
Free Cash Flow347.96M368.14M293.08M240.20M194.76M204.44M
Operating Cash Flow363.00M381.89M306.80M252.88M213.78M214.36M
Investing Cash Flow-162.82M-81.72M-707.11M-37.85M-52.41M-147.62M
Financing Cash Flow-45.64M-236.51M331.79M-139.37M-123.98M-55.35M

Nemetschek Technical Analysis

Technical Analysis Sentiment
Positive
Last Price65.90
Price Trends
50DMA
58.03
Positive
100DMA
60.01
Positive
200DMA
69.28
Negative
Market Momentum
MACD
2.01
Negative
RSI
60.46
Neutral
STOCH
85.93
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 60.81, above the 50-day MA of 58.03, and below the 200-day MA of 69.28, indicating a neutral trend. The MACD of 2.01 indicates Negative momentum. The RSI at 60.46 is Neutral, neither overbought nor oversold. The STOCH value of 85.93 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

Overall Rating
UnderperformOutperform
Sector (55)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
77
Outperform
€216.54B26.2817.98%1.78%6.42%22.22%
74
Outperform
€182.60M14.4827.13%3.75%7.53%36.30%
70
Outperform
€7.61B30.5225.76%1.19%12.75%30.85%
69
Neutral
€57.40M11.2212.95%-0.58%
66
Neutral
€626.16M18.4340.19%11.36%-8.23%10.46%
59
Neutral
€1.04B7.9068.55%5.39%3.05%
55
Neutral
$6.65B3.83-15.92%6.20%10.91%7.18%
* General Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
DE:NEM
Nemetschek
65.00
-52.84
-44.84%
DE:CSH
Cenit AG
6.96
-0.56
-7.45%
DE:SAP
SAP SE
180.02
-52.38
-22.54%
DE:TMV
TeamViewer AG
6.56
-2.56
-28.12%
DE:MUM
Mensch und Maschine Software SE
36.30
-9.34
-20.46%
DE:FAA
Fabasoft AG
16.80
1.53
10.00%
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: Aug 04, 2026