Want to see DE:YSN full AI Analyst Report?
Top Page
Secunet Security Networks
(XETRA:YSN)
Select Model
Select Model
Rating:68Neutral
Price Target:
€196.00
▲(22.19% Upside)
Action:Reiterated
Date:08/06/26
Overall score is driven by solid financial quality (low leverage, strong ROE, and positive cash generation), tempered by a significant 2025 revenue contraction and compressed margins. Technicals are mixed with weaker longer-term trend signals, and valuation is relatively expensive (P/E ~34.7) with only a modest dividend yield.
Positive Factors
Conservative Balance Sheet
Very low leverage gives Secunet financial flexibility to fund product development, project delivery and customer support without heavy debt-service pressure. A growing equity base also strengthens resilience through uneven public-sector project cycles.
Negative Factors
Sharp Revenue Contraction
A 24% annual revenue decline indicates that demand or project execution has been uneven and weakens confidence in near-term growth durability. Persistent contraction could reduce operating leverage and constrain investment in products, personnel and delivery capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage gives Secunet financial flexibility to fund product development, project delivery and customer support without heavy debt-service pressure. A growing equity base also strengthens resilience through uneven public-sector project cycles.
Read all positive factors
Secunet Security Networks (YSN) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€1.14B
Dividend Yield1.43%
Average Volume (3M)4.19K
Price to Earnings (P/E)39.9
Beta (1Y)1.46
Revenue Growth13.37%
EPS Growth7.09%
CountryDE
Employees1,226
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)4.52
Shares Outstanding6,500,000
10 Day Avg. Volume4,931
30 Day Avg. Volume4,192
Financial Highlights & Ratios
PEG Ratio1.87
Price to Book (P/B)7.18
Price to Sales (P/S)2.61
P/FCF Ratio22.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€257.00Price Target Upside60.22% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)6.12
Revenue Forecast (FY)€503.90M
Secunet Security Networks Business Overview & Revenue Model
Company Description
secunet Security Networks AG is a leading cybersecurity firm operating across Germany and on an international scale. The company provides a comprehensive suite of security solutions, including advanced biometric and electronic identity (eID) syste...
How the Company Makes Money
Secunet makes money primarily by selling cybersecurity products and delivering project-based IT security solutions, alongside ongoing services that support and operate those solutions. Key revenue streams typically include: (1) Product revenue fro...
Secunet Security Networks Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
82
Very Positive
Cash Flow
76
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 320.11M | 458.83M | 406.38M | 393.68M | 347.22M | 337.62M |
| Gross Profit | 74.61M | 106.29M | 97.33M | 87.37M | 90.15M | 101.61M |
| EBITDA | 60.52M | 75.59M | 60.49M | 60.24M | 62.10M | 73.82M |
| Net Income | 29.20M | 33.34M | 27.95M | 29.15M | 31.31M | 43.10M |
Balance Sheet | ||||||
| Total Assets | 425.26M | 410.72M | 359.65M | 328.64M | 315.42M | 274.02M |
| Cash, Cash Equivalents and Short-Term Investments | 6.94M | 87.62M | 57.68M | 41.27M | 21.48M | 119.60M |
| Total Debt | 29.77M | 20.19M | 24.17M | 19.09M | 19.13M | 17.41M |
| Total Liabilities | 268.90M | 243.69M | 208.82M | 190.79M | 187.59M | 144.20M |
| Stockholders Equity | 156.37M | 167.03M | 150.75M | 137.75M | 127.59M | 129.56M |
Cash Flow | ||||||
| Free Cash Flow | -1.32M | 54.26M | 46.85M | 43.07M | -9.51M | 46.98M |
| Operating Cash Flow | 11.31M | 62.50M | 60.98M | 51.88M | -3.96M | 53.76M |
| Investing Cash Flow | -12.79M | -8.24M | -22.74M | -8.75M | -54.50M | -15.71M |
| Financing Cash Flow | -16.93M | -24.53M | -21.82M | -23.33M | -39.53M | -20.23M |
Secunet Security Networks Technical Analysis
Negative
160.40
Price Trends
175.67
Positive
183.07
Negative
185.43
Negative
Market Momentum
0.64
Positive
44.91
Neutral
7.06
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:YSN, the sentiment is Negative. The current price of 160.4 is below the 20-day moving average (MA) of 183.68, below the 50-day MA of 175.67, and below the 200-day MA of 185.43, indicating a neutral trend. The MACD of 0.64 indicates Positive momentum. The RSI at 44.91 is Neutral, neither overbought nor oversold. The STOCH value of 7.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:YSN.
Secunet Security Networks Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | €1.14B | 39.91 | 18.06% | 1.61% | 13.37% | 7.09% | |
64 Neutral | €4.68B | 21.68 | 72.80% | ― | -34.09% | 6.30% | |
60 Neutral | €1.42B | 43.42 | 4.19% | 1.82% | ― | ― | |
59 Neutral | €377.98M | 21.23 | 9.65% | 1.48% | 12.73% | 51.34% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €616.47M | 18.18 | 7.07% | 4.18% | -1.13% | 104.45% | |
54 Neutral | €339.77M | -33.73 | -8.99% | 1.78% | -1.94% | -161.38% |
* General Sector Average
DE:YSN
Secunet Security Networks
180.40
-12.70
-6.58%
DE:ADN1
adesso AG
60.30
-23.60
-28.13%
DE:A1OS
All for One Group
67.80
23.16
51.89%
DE:COK
CANCOM SE
22.00
-0.21
-0.94%
DE:COP
CompuGroup Medical
27.00
3.93
17.06%
DE:IOS
IONOS Group SE
35.12
-3.38
-8.78%
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.