Bourse Direct SA (BSD) AI Stock Analysis

• Market Cap: €207.49M
• Dividend Yield: 4.83%
• Average Volume (3M): 12.83K
• Price to Earnings (P/E): 11.6
• Beta (1Y): 0.60
• Revenue Growth: 2.11%
• EPS Growth: 2.87%
• Country: FR
• Employees: 145
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 0.18
• Shares Outstanding: 51,608,963
• 10 Day Avg. Volume: 4,661
• 30 Day Avg. Volume: 12,831
• PEG Ratio: 0.50
• Price to Book (P/B): 2.82
• Price to Sales (P/S): 2.95
• P/FCF Ratio: 13.85
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.29
• Revenue Forecast (FY): €61.37M

• Rating: 73 Outperform
• Price Target: €4.50 ▲(6.13% Upside)

Bourse Direct SA's strong financial performance is the primary driver of its score, supported by solid revenue and profit growth. The valuation is reasonable, with an attractive dividend yield. Technical indicators suggest a neutral market position, neither strongly bullish nor bearish.

Bourse Direct SA Business Overview & Revenue Model

Company Description

Bourse Direct SA provides Internet stock brokerage services in France. It offers a platform of services, tools, and financial products, including French and foreign equities, derivatives, trackers, warrants, certificates, turbos, mutual funds, UCITS, and CFDs, as well as tax exemption, real estate, and life insurance products through the Boursedirect.fr, Capitol.fr, Tradebox.fr, Absysteme.fr, Wargny.com, and Mesactions.com sites. The company was founded in 1996 and is headquartered in Paris, France. Bourse Direct SA operates as a subsidiary of E-VIEL SA.

How the Company Makes Money

Bourse Direct SA generates revenue primarily through commissions and fees associated with its brokerage services. The company charges clients for executing trades on its platform, earning a percentage of the transaction value or a flat fee. Additionally, Bourse Direct earns income from offering margin lending services, where clients can borrow funds to invest, paying interest on the borrowed amounts. The company may also generate revenue from subscription fees for premium services or tools, such as advanced market analysis and real-time data feeds. Partnerships with financial institutions and technology providers can further enhance its service offerings, contributing to its overall earnings.

Bourse Direct SA Financial Statement Overview

Summary

Bourse Direct SA demonstrates strong financial health with impressive revenue and profit growth, effective cost management, and solid cash flow generation. However, the equity ratio is slightly low, indicating a higher dependency on liabilities.

Income Statement

Bourse Direct SA has demonstrated strong revenue growth over the years, with a notable increase from 56.64 million EUR in 2023 to 76.39 million EUR in 2024. The gross profit margin is robust at approximately 89.96%, indicating efficient cost management. The net profit margin is strong at around 25.05%, showing effective profitability management. The company has also improved its EBIT and EBITDA margins, indicating enhanced operational efficiency.

Balance Sheet

The company exhibits a solid debt-to-equity ratio of 0.53, reflecting a balanced approach to leverage. Return on equity is impressive at around 23.90%, showcasing profitability relative to shareholder investments. However, the equity ratio is slightly low at 6.83%, suggesting a relatively high reliance on liabilities to finance assets.

Cash Flow

Bourse Direct SA shows a healthy free cash flow growth rate of approximately -22.95% from 2023 to 2024, despite a decline. The operating cash flow to net income ratio stands at 1.09, indicating good cash generation relative to net income. The free cash flow to net income ratio is also positive, reflecting the company's ability to convert income into cash flow effectively.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	74.33M	76.39M	66.44M	48.46M	46.45M	44.88M
Gross Profit	70.77M	68.72M	60.97M	39.74M	37.36M	37.11M
EBITDA	29.57M	31.16M	26.94M	11.16M	12.59M	11.42M
Net Income	18.32M	19.13M	15.93M	5.68M	7.16M	6.11M
Balance Sheet
Total Assets	1.28B	1.17B	1.30B	1.33B	1.35B	1.18B
Cash, Cash Equivalents and Short-Term Investments	176.01M	53.92M	157.66M	230.56M	313.43M	115.04M
Total Debt	59.60M	42.62M	60.61M	57.84M	103.53M	101.21M
Total Liabilities	1.20B	1.09B	1.23B	1.26B	1.29B	1.12B
Stockholders Equity	78.32M	80.06M	76.36M	67.60M	66.25M	64.46M
Cash Flow
Free Cash Flow	18.38M	16.28M	21.14M	9.44M	-2.49M	13.05M
Operating Cash Flow	20.64M	20.78M	23.18M	12.76M	-538.00K	14.95M
Investing Cash Flow	-2.38M	-6.01M	-2.04M	-3.22M	-7.54M	-1.90M
Financing Cash Flow	-13.79M	-14.47M	-8.32M	-5.41M	-4.14M	-3.25M

Bourse Direct SA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.24
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:BSD, the sentiment is Negative. The current price of 4.24 is above the 20-day moving average (MA) of 4.20, above the 50-day MA of 4.16, and above the 200-day MA of 4.24, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 48.07 is Neutral, neither overbought nor oversold. The STOCH value of 57.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:BSD.

Bourse Direct SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BSD	73 Outperform	€207.49M	11.55	24.66%	4.83%	2.11%	2.87%
ABCA	73 Outperform	€316.96M	8.94	21.46%	4.44%	53.67%	116.00%
VIL	71 Outperform	€1.03B	8.59	23.71%	2.71%	10.47%	11.37%
COFA	70 Outperform	€2.16B	9.42	10.78%	9.44%	2.09%	-11.21%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
LIN	63 Neutral	€216.84M	7.88	―	3.98%	0.23%	10.46%