Bourse Direct SA (BSD) AI Stock Analysis

• Market Cap: €224.22M
• Dividend Yield: 3.78%
• Average Volume (3M): 10.96K
• Price to Earnings (P/E): 11.7
• Beta (1Y): 0.52
• Revenue Growth: 11.49%
• EPS Growth: 23.44%
• Country: FR
• Employees: 145
• Sector: Financial
• Sector Strength: 82
• Industry: Financial - Capital Markets
• EPS (TTM): 0.37
• Shares Outstanding: 52,904,232
• 10 Day Avg. Volume: 5,335
• 30 Day Avg. Volume: 10,959
• PEG Ratio: 1.95
• Price to Book (P/B): 2.75
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 13.50
• 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

• Rating: 71 Outperform
• Price Target: ―

Bourse Direct SA scores a 71.1, reflecting strong financial performance with robust revenue and profit growth. However, technical analysis suggests a bearish trend, with key indicators pointing to possible oversold conditions. The stock is fairly valued with a reasonable P/E ratio and a good dividend yield, making it attractive for income investors. While the financial health is solid, the downward trend in technical indicators slightly offsets the overall positive outlook.

Bourse Direct SA Business Overview & Revenue Model

Company Description

Bourse Direct SA (BSD) is a French company specializing in online brokerage services. It operates within the financial services sector, offering individuals, investors, and traders access to a comprehensive suite of tools for trading stocks, bonds, derivatives, and other financial instruments. Bourse Direct is known for its user-friendly platform that provides real-time market data, analysis, and educational resources, catering primarily to retail investors looking to manage and grow their investment portfolios.

How the Company Makes Money

Bourse Direct SA generates revenue primarily through brokerage fees and commissions charged on the execution of trades made by its customers. The company offers various pricing models, including flat-rate fees for frequent traders and percentage-based fees for occasional investors. Additionally, Bourse Direct may earn interest on the cash balances held in customer accounts and through the provision of margin lending services, where clients borrow funds to increase their trading capital. Partnerships with financial institutions and technology providers also contribute to its revenue by enhancing its platform's capabilities and expanding its service offerings. The company's focus on providing a seamless, cost-effective trading experience helps attract a broad customer base, thus driving transaction volume and revenue growth.

Bourse Direct SA Financial Statement Overview

Summary

Overall, Bourse Direct SA demonstrates strong financial health with impressive revenue and profit growth, effective cost management, and solid cash flow generation. While the company maintains a balanced debt structure, there is a slight concern regarding its equity ratio, which suggests a higher dependency on liabilities. Nonetheless, the company's profitability and operational efficiency position it well within the Capital Markets industry.

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
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
76.39M	56.64M	48.46M	46.45M	44.88M
	Gross Profit
68.72M	60.97M	39.74M	37.36M	37.11M
	EBIT
27.73M	21.82M	8.25M	10.09M	9.74M
	EBITDA
31.16M	26.94M	11.16M	12.68M	11.42M
	Net Income Common Stockholders
19.13M	15.93M	5.48M	7.32M	6.11M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
53.92M	68.73M	66.69M	107.38M	115.04M
	Total Assets
1.17B	1.30B	1.33B	1.35B	1.18B
	Total Debt
42.62M	63.10M	57.84M	103.53M	101.21M
	Net Debt
42.62M	-157.66M	-172.72M	-209.89M	-89.32M
	Total Liabilities
1.09B	1.23B	1.26B	1.29B	1.12B
	Stockholders Equity
80.06M	76.36M	67.60M	66.25M	64.46M
Cash Flow		Free Cash Flow
16.28M	21.14M	9.44M	-2.49M	13.05M
	Operating Cash Flow
20.78M	23.18M	12.76M	-538.00K	14.95M
	Investing Cash Flow
-6.01M	-2.04M	-3.22M	-7.54M	-1.90M
	Financing Cash Flow
-14.47M	-8.32M	-5.41M	-4.14M	-3.25M

Bourse Direct SA Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 4.36
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:BSD, the sentiment is Neutral. The current price of 4.36 is above the 20-day moving average (MA) of 4.30, below the 50-day MA of 4.38, and below the 200-day MA of 4.63, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 54.96 is Neutral, neither overbought nor oversold. The STOCH value of 80.56 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FR:BSD.

Bourse Direct SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CAP	75 Outperform	€25.28B	15.06	15.03%	2.30%	-1.89%	1.15%
ENX	74 Outperform	€15.09B	24.48	14.73%	1.71%	10.73%	12.48%
GLE	73 Outperform	€33.78B	10.96	5.93%	1.84%	-6.46%	117.00%
BSD	71 Outperform	€224.22M	11.70	24.67%	3.78%	11.49%	23.44%
BNP	69 Neutral	€85.67B	7.93	9.58%	5.93%	5.65%	11.45%
ACA	67 Neutral	€52.90B	8.33	9.68%	5.96%	7.38%	8.32%
Sector *	64 Neutral	$12.64B	9.78	7.67%	17015.08%	12.23%	-6.02%

Bourse Direct SA Corporate Events

Bourse Direct Horizon Wins Prestigious Life Insurance Award

Bourse Direct Horizon has been recognized at the 40th Oscars of Life Insurance for its ‘DNCA Diversified Dynamic’ profile, highlighting the company’s ability to deliver high-quality guided management for savers. This award underscores Bourse Direct’s competitive positioning in the life insurance market and its strategic partnership with DNCA Finance, which enhances its asset management capabilities to maximize growth potential for clients.

Bourse Direct Joins Finfluencer Awards 2025 as Jury Member

Bourse Direct is participating as a jury member in the Finfluencer Awards 2025, an event that recognizes financial content creators who excel in making financial concepts accessible to the public. This involvement aligns with Bourse Direct’s commitment to financial education, as the company aims to support initiatives that simplify finance for everyone. The awards highlight diverse talents and educational approaches, with winners selected through a combination of public and jury votes, emphasizing the importance of engaging and innovative financial content.

Bourse Direct Launches Competitive Life Insurance Product Amidst Declining Interest Rates

Bourse Direct SA has introduced a new life insurance product, Bourse Direct Horizon, which offers a target return of 4.60% on the Netissima euro fund for 2025 and 2026. This product is positioned as an attractive alternative for savers seeking better returns amidst declining interest rates. The offering includes a welcome bonus for new clients and emphasizes flexibility, diversification, and tax advantages, although it carries a risk of capital loss due to market fluctuations.

Bourse Direct Enhances Investor Knowledge with Free Webinars

Bourse Direct is hosting a series of free webinars during Financial Education Week to enhance investor knowledge in stock market and wealth management. Led by Christian Sanson, these sessions aim to empower both novice and experienced investors with the skills needed for confident investing, highlighting the company’s commitment to financial education.

Bourse Direct to Present 2024 Results in Upcoming Webinar

Bourse Direct is hosting a webinar on March 13, 2025, for shareholders and individual investors to present its 2024 annual results and future strategies. This event, led by CEO Catherine Nini, will include a presentation of the company’s performance and a Q&A session, highlighting Bourse Direct’s commitment to transparency and stakeholder engagement.