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Euronext NV Unsponsored ADR (ERNXY) AI Stock Analysis
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Euronext NV Unsponsored ADR
(Other OTC:ERNXY)
The overall score is driven primarily by very strong financial performance, where exceptional margins, consistent earnings growth, improving leverage and solid cash generation underpin a high‑quality fundamental profile despite some residual debt and cash‑flow variability risk. Technicals provide an additional tailwind, with the share price comfortably above all major moving averages and supported by a very low beta, indicating a steadily rising trend with limited volatility. Valuation is supportive but not deeply discounted: the mid‑20s P/E and ~2% dividend yield suggest investors are paying a fair price for a structurally profitable, growing market‑infrastructure business rather than obtaining a bargain, which moderates the score slightly but still aligns with an attractive, above‑average investment profile.
Euronext NV Unsponsored ADR (ERNXY) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $97.65B
- Dividend Yield
- 1.83%
- Average Volume (3M)
- 4,197
- Price to Earnings (P/E)
- 25.5
- Beta (1Y)
- 0.14
- Revenue Growth
- 22.51%
- EPS Growth
- 17.00%
- Country
- US
- Employees
- 3,105
- Sector
- General
- Sector Strength
- 55
- Industry
- Financial - Data & Stock Exchanges
Euronext NV Unsponsored ADR Business Overview & Revenue Model
Company Description
Euronext N.V. manages and operates a network of securities and derivatives exchanges spanning Continental Europe, Ireland, and Norway. The company delivers a comprehensive array of exchange and corporate services, including the listing of various fin...
How the Company Makes Money
Euronext generates revenue primarily by providing market infrastructure services across the full trading and issuer lifecycle. A core revenue stream is trading-related fees: it earns transaction, clearing-related, and connectivity fees from market pa...
Euronext NV Unsponsored ADR Earnings Call Summary
The call presented a strongly positive operational and financial performance: record revenue, broad‑based double‑digit growth across revenue, EBITDA, net income and EPS, margin expansion and strong cash generation. Key strategic initiatives (Power Futures, CSD expansion, French sovereign index appointment, Athens and Admincontrol integrations) are progressing and contributing to growth. Challenges flagged—FX revenue decline, higher non‑cash charges, one‑off integration costs, large cash outflows, gradual adoption risk for CSD, pricing pressure and as‑yet unquantified AI savings—are notable but relatively limited compared with the scale of positive results and momentum.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management said Euronext is “tracking significantly ahead” of its Innovate for Growth 2027 targets (originally above 5% CAGR for revenue and EBITDA) but will not formally revise guidance now — any update is likely when Q3 results are published (November) once AI-driven efficiency impacts are clearer. In Q2 they delivered underlying revenue of €544.4m (+16.9% yoy), adjusted EBITDA €360m (+21.1%) with a 66.1% margin (+2.3pp), adjusted net income €245m (+19.9%) and adjusted EPS €2.42 (+19.8%); underlying operating expenses excl. D&A were €184.4m (+9.5%, +3.5% excl. acquisitions). They highlighted non‑volume revenue at 58% of total (+15.2%) covering 170% of underlying op. expenses, volume‑related revenue +19.2%, assets under custody €8.1tn (June +8.8%/first 7 months +10.5%), net cash from operations €185.5m (57.3% of EBITDA ex. working capital), cash >€1bn, net debt/LTM EBITDA 1.3x (1.5x ex. €228m Nord Pool cash‑in‑transit), and recent cash uses of €322m dividends, €386m bond redemption and $89m paid for Power Futures migration.
Euronext NV Unsponsored ADR Financial Statement Overview
Summary
Financial performance is very strong: income statement quality is outstanding with ~90% gross margins, ~36% net margins and consistent earnings growth, supporting an 88 score; the balance sheet is solid with rising equity and de‑leveraging (debt/equity down from ~0.86 to ~0.66) but still meaningful leverage, reflected in an 80 score; cash flow is robust with high and rebounding operating and free cash flow closely tracking net income, albeit with some year‑to‑year volatility, warranting an 83 score. Combined, these metrics point to high‑quality fundamentals with only moderate risk from leverage and cash‑flow variability.
Income Statement
88Very PositiveBalance Sheet
80PositiveCash Flow
83Very Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.97B | 1.75B | 1.62B | 1.47B | 1.41B | 1.29B |
| Gross Profit | 1.75B | 1.55B | 1.16B | 1.10B | 1.04B | 958.49M |
| EBITDA | 1.29B | 1.12B | 975.64M | 904.96M | 811.76M | 756.32M |
| Net Income | 707.04M | 617.53M | 585.60M | 513.57M | 437.83M | 413.34M |
Balance Sheet | ||||||
| Total Assets | 415.02B | 327.49B | 209.39B | 189.51B | 175.14B | 145.91B |
| Cash, Cash Equivalents and Short-Term Investments | 373.50B | 1.66B | 1.74B | 176.46B | 168.01B | 961.95M |
| Total Debt | 3.03B | 3.47B | 3.12B | 3.11B | 3.09B | 3.13B |
| Total Liabilities | 410.22B | 322.76B | 204.99B | 185.42B | 171.10B | 142.14B |
| Stockholders Equity | 4.61B | 4.54B | 4.25B | 3.95B | 3.91B | 3.65B |
Cash Flow | ||||||
| Free Cash Flow | 1.15B | 682.20M | 621.36M | 723.04M | 516.97M | 476.12M |
| Operating Cash Flow | 1.21B | 812.10M | 708.60M | 826.07M | 616.49M | 543.71M |
| Investing Cash Flow | -109.64M | -387.70M | -37.07M | 157.91M | -122.58M | -4.22B |
| Financing Cash Flow | -751.37M | -495.10M | -441.67M | -522.21M | -282.37M | 3.84B |
Euronext NV Unsponsored ADR Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ERNXY, the sentiment is Positive. The current price of 39.65 is above the 20-day moving average (MA) of 38.04, above the 50-day MA of 37.42, and above the 200-day MA of 33.63, indicating a bullish trend. The MACD of 0.79 indicates Negative momentum. The RSI at 69.96 is Neutral, neither overbought nor oversold. The STOCH value of 79.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ERNXY.
Euronext NV Unsponsored ADR Peers Comparison
Overall Rating
CME85Outperform
ICE83Outperform- ERNXY82Outperform
CBOE81Outperform
NDAQ79Outperform
SPGI79Outperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| CME | 85Outperform | $108.50B | 24.73 | 16.24% | 3.73% | 8.99% | 18.85% |
| ICE | 83Outperform | $94.36B | 22.94 | 14.08% | 1.21% | 13.51% | 33.41% |
| ERNXY | 82Outperform | $19.63B | 25.48 | 15.52% | 1.83% | 22.51% | 17.00% |
| CBOE | 81Outperform | $35.04B | 23.81 | 26.84% | 0.90% | 14.31% | 50.84% |
| NDAQ | 79Outperform | $58.95B | 28.71 | 17.29% | 1.09% | 11.94% | 30.40% |
| SPGI | 79Outperform | $135.25B | 27.74 | 17.54% | 0.83% | 5.99% | 22.20% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| ERNXY | Euronext NV Unsponsored ADR | 39.65 | 11.49 | 40.81% | |
| CBOE | Cboe Global Markets | 335.53 | 91.10 | 37.27% | |
| CME | CME Group Inc | 303.14 | 48.85 | 19.21% | |
| ICE | Intercontinental Exchange Inc. | 168.85 | 25.17 | 17.52% | |
| SPGI | S&P Global | 466.55 | 0.58 | 0.13% | |
| NDAQ | Nasdaq OMX | 106.23 | 20.97 | 24.59% |
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 03, 2026