Ceconomy(CEC)株式概要セコノミーAGは、その子会社とともに家電小売業に従事している。 詳細CEC ファンダメンタル分析スノーフレーク・スコア評価4/6将来の成長4/6過去の実績0/6財務の健全性3/6配当金0/6報酬当社が推定した公正価値より9.1%で取引されている 収益は年間60.06%増加すると予測されています 同業他社や業界と比較して、良好な取引価格 リスク分析リスクチェックの結果、CEC 、リスクは検出されなかった。すべてのリスクチェックを見るCEC Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Analyst Price TargetsAN14.5% undervaluedAnalystConsensusTarget•14d agoCEC: Fair Value Steady As Index Exit And Minor Shifts Shape Outlook6202Top Analyst NarrativesCeconomyANAnalystConsensusTargetBased on Analyst Price TargetsCEC: Fair Value Steady As Index Exit And Minor Shifts Shape OutlookKey Takeaways Expanding omnichannel capabilities, personalized digital initiatives, and high-margin services are enhancing profitability, customer loyalty, and operational efficiency. Sustainability and strategic partnerships are driving revenue growth, positioning the company strongly as consumer preferences and the market evolve.View narrative€4.6FV14.5% 割安 内在価値ディスカウントSet Fair ValueView62users have viewed this narrative0users have liked this narrative0users have commented on this narrative2users have followed this narrative14 days ago author updated this narrativeView all narrativesCeconomy AG 競合他社HORNBACH BaumarktSymbol: HMSE:HBMMarket cap: €2.1bHORNBACH Holding KGaASymbol: XTRA:HBHMarket cap: €1.3bFielmann GroupSymbol: XTRA:FIEMarket cap: €3.7bDouglasSymbol: XTRA:DOUMarket cap: €934.8m価格と性能株価の高値、安値、推移の概要Ceconomy過去の株価現在の株価€3.9452週高値€4.5952週安値€2.60ベータ1.691ヶ月の変化-7.19%3ヶ月変化-10.97%1年変化37.83%3年間の変化81.34%5年間の変化-14.34%IPOからの変化-87.42%最新ニュースReported Earnings • May 18Second quarter 2026 earnings released: €0.19 loss per share (vs €0.068 loss in 2Q 2025)Second quarter 2026 results: €0.19 loss per share (further deteriorated from €0.068 loss in 2Q 2025). Revenue: €5.47b (up 4.1% from 2Q 2025). Net loss: €92.0m (loss widened 179% from 2Q 2025). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.ライブニュース • May 14Ceconomy Reports 4% Sales Growth as JD.com Deal Faces Delays and Germany RestructuresCeconomy reported H1 2026 sales growth of 4% and like-for-like sales growth of 4.8% in Q2, alongside a 14.2% rise in adjusted EBIT. Online sales accounted for 28.5% of total sales, reflecting the company’s focus on its omnichannel model. Management highlighted ongoing restructuring in Germany and said the planned JD.com acquisition is facing delays due to pending regulatory approvals. The mix of higher sales, improved adjusted EBIT and a rising online share points to some operational progress. At the same time, the German restructuring and JD.com deal delays keep execution risk on the table. If you are following the stock, it is worth tracking how quickly the restructuring translates into further profitability changes and whether regulatory approvals for the JD.com transaction move forward within management’s expected timelines.ナラティブの更新 • May 06CEC: Fair View Will Reflect CEO Transition And Refined Risk AssumptionsAnalysts have adjusted their price target on Ceconomy to €4.60, with the updated view reflecting slightly lower assumed risk through a reduced discount rate, while keeping fair value, revenue growth, profit margin and future P/E expectations broadly unchanged. What's in the News Ceconomy announced that Chief Executive Officer Dr. Kai Ulrich Deissner has asked to step down from his role for personal reasons in the course of 2026.ナラティブの更新 • Apr 21CEC: Stable Outlook As CEO Transition And Assumption Tweaks Will Support Fair ValueNarrative Update on Ceconomy The latest analyst price target for Ceconomy has been adjusted to €4.60, with analysts pointing to small tweaks in the discount rate and forward P/E assumptions as the main drivers behind the updated view. What's in the News Chief Executive Officer Dr. Kai-Ulrich Deissner has requested to step down from his role at Ceconomy for personal reasons in the course of 2026, prompting an upcoming leadership transition discussion.ナラティブの更新 • Apr 07CEC: Stable Outlook As CEO Succession Plans And Assumptions Will Support Fair ValueAnalysts have adjusted their price target on Ceconomy to €4.60, in line with the prior €4.60 level. This reflects modest updates to assumptions such as a slightly higher discount rate and a marginally different future P/E outlook.ナラティブの更新 • Mar 24CEC: Stable Outlook As CEO Transition And Assumptions Point To Fair ValueAnalysts have kept their Ceconomy price target steady at €4.60, pointing to only small tweaks in discount rate, revenue growth, profit margin and future P/E assumptions rather than a change in their overall view. What's in the News Ceconomy announced that Chief Executive Officer Dr. Kai Ulrich Deissner has requested to step down from his role for personal reasons in the course of 2026, signaling an upcoming leadership change.最新情報をもっと見るRecent updatesReported Earnings • May 18Second quarter 2026 earnings released: €0.19 loss per share (vs €0.068 loss in 2Q 2025)Second quarter 2026 results: €0.19 loss per share (further deteriorated from €0.068 loss in 2Q 2025). Revenue: €5.47b (up 4.1% from 2Q 2025). Net loss: €92.0m (loss widened 179% from 2Q 2025). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.ライブニュース • May 14Ceconomy Reports 4% Sales Growth as JD.com Deal Faces Delays and Germany RestructuresCeconomy reported H1 2026 sales growth of 4% and like-for-like sales growth of 4.8% in Q2, alongside a 14.2% rise in adjusted EBIT. Online sales accounted for 28.5% of total sales, reflecting the company’s focus on its omnichannel model. Management highlighted ongoing restructuring in Germany and said the planned JD.com acquisition is facing delays due to pending regulatory approvals. The mix of higher sales, improved adjusted EBIT and a rising online share points to some operational progress. At the same time, the German restructuring and JD.com deal delays keep execution risk on the table. If you are following the stock, it is worth tracking how quickly the restructuring translates into further profitability changes and whether regulatory approvals for the JD.com transaction move forward within management’s expected timelines.ナラティブの更新 • May 06CEC: Fair View Will Reflect CEO Transition And Refined Risk AssumptionsAnalysts have adjusted their price target on Ceconomy to €4.60, with the updated view reflecting slightly lower assumed risk through a reduced discount rate, while keeping fair value, revenue growth, profit margin and future P/E expectations broadly unchanged. What's in the News Ceconomy announced that Chief Executive Officer Dr. Kai Ulrich Deissner has asked to step down from his role for personal reasons in the course of 2026.ナラティブの更新 • Apr 21CEC: Stable Outlook As CEO Transition And Assumption Tweaks Will Support Fair ValueNarrative Update on Ceconomy The latest analyst price target for Ceconomy has been adjusted to €4.60, with analysts pointing to small tweaks in the discount rate and forward P/E assumptions as the main drivers behind the updated view. What's in the News Chief Executive Officer Dr. Kai-Ulrich Deissner has requested to step down from his role at Ceconomy for personal reasons in the course of 2026, prompting an upcoming leadership transition discussion.ナラティブの更新 • Apr 07CEC: Stable Outlook As CEO Succession Plans And Assumptions Will Support Fair ValueAnalysts have adjusted their price target on Ceconomy to €4.60, in line with the prior €4.60 level. This reflects modest updates to assumptions such as a slightly higher discount rate and a marginally different future P/E outlook.ナラティブの更新 • Mar 24CEC: Stable Outlook As CEO Transition And Assumptions Point To Fair ValueAnalysts have kept their Ceconomy price target steady at €4.60, pointing to only small tweaks in discount rate, revenue growth, profit margin and future P/E assumptions rather than a change in their overall view. What's in the News Ceconomy announced that Chief Executive Officer Dr. Kai Ulrich Deissner has requested to step down from his role for personal reasons in the course of 2026, signaling an upcoming leadership change.ナラティブの更新 • Mar 10CEC: Slightly Lower Discount Rate And Margins Will Shape Fairly Valued OutlookAnalysts have adjusted their Ceconomy price target to €4.60, reflecting updated assumptions around the discount rate, modest revenue growth and profit margin expectations, as well as a slightly different forward P/E multiple. Valuation Changes Fair Value: unchanged at €4.60 per share.ナラティブの更新 • Feb 22CEC: Revised Multiples And Margins Will Shape Fairly Valued OutlookAnalysts have trimmed their price target on Ceconomy by €1.64 to €6.57, citing slightly lower assumed revenue growth and P/E multiples, alongside higher projected profit margins and a modestly reduced discount rate. Valuation Changes Fair Value: €4.60 unchanged, with no adjustment to the underlying estimate.Reported Earnings • Feb 12First quarter 2026 earnings released: EPS: €0.37 (vs €0.30 in 1Q 2025)First quarter 2026 results: EPS: €0.37 (up from €0.30 in 1Q 2025). Revenue: €7.61b (flat on 1Q 2025). Net income: €181.0m (up 22% from 1Q 2025). Profit margin: 2.4% (up from 2.0% in 1Q 2025). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.ナラティブの更新 • Feb 07CEC: Index Removal And Unchanged Assumptions Will Guide Future ProspectsAnalysts have kept their price target for Ceconomy broadly unchanged, reflecting only very small adjustments to inputs such as the discount rate, long term revenue growth, profit margins and future P/E assumptions rather than a material shift in their overall view. Valuation Changes Fair Value: unchanged at 4.6, indicating no revision to the overall estimated worth of the shares.ナラティブの更新 • Jan 23CEC: Index Removal And Steady Assumptions Will Shape Future ProspectsAnalysts have raised their price target for Ceconomy slightly, to €4.60 from €4.53, citing updated inputs such as a modestly adjusted discount rate and future P/E assumption in their valuation work. Valuation Changes Fair Value Estimate: Adjusted slightly from €4.53 to €4.60 per share.Price Target Changed • Jan 12Price target increased by 7.7% to €4.60Up from €4.27, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of €4.49. The company is forecast to post earnings per share of €0.52 next year compared to a net loss per share of €0.072 last year.ナラティブの更新 • Jan 08CEC: Index Removal And Steady Assumptions Will Shape Future ProspectsAnalysts have edged their price target for Ceconomy slightly higher to €4.53, reflecting small adjustments to assumptions on discount rate, long-term revenue growth, profit margin and future P/E that keep their overall valuation view broadly unchanged. What's in the News Ceconomy AG has been dropped from the Germany Small DAX (Total Return) Index, which may affect how some index funds and ETFs gain exposure to the stock (Key Developments).お知らせ • Jan 07Ceconomy AG, Annual General Meeting, Feb 18, 2026Ceconomy AG, Annual General Meeting, Feb 18, 2026, at 10:00 W. Europe Standard Time.ナラティブの更新 • Dec 19CEC: Index Removal And Mixed Profitability Assumptions Will Shape Future PerformanceAnalysts have trimmed their price target on Ceconomy to €4.53, reflecting slightly higher discount rates, more cautious margin expectations, and a higher assumed future P/E multiple, despite an improved revenue growth outlook. What's in the News Ceconomy AG has been removed as a constituent of the Germany Small DAX (Total Return) Index, which may affect its visibility among index-tracking investors (Key Developments).Reported Earnings • Dec 18Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: €0.072 loss per share (down from €0.16 profit in FY 2024). Revenue: €23.1b (up 2.8% from FY 2024). Net loss: €35.0m (down 146% from profit in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings.ナラティブの更新 • Dec 05CEC: Future Pricing Assumptions And Index Removal Will Shape Balanced PerformanceAnalysts have modestly raised their price target on Ceconomy to €4.53 from €4.53, reflecting slightly higher assumed discount rates and future valuation multiples while keeping long term growth and margin expectations broadly unchanged. What's in the News Ceconomy AG has been removed as a constituent from the Germany Small DAX (Total Return) Index, which may affect its visibility to index-tracking investors (Key Developments).ナラティブの更新 • Nov 21CEC: Incremental Margin Gains And Index Exit Will Balance Future PerformanceAnalysts have reiterated their price target for Ceconomy at €4.53. They cite incremental improvements in profit margin and revenue growth forecasts, but note these are offset by a modest increase in the discount rate.ナラティブの更新 • Nov 03CEC: Fair Value Steady As Index Exit And Minor Shifts Shape OutlookAnalysts have maintained their fair value estimate for Ceconomy at €4.53. They note that minor adjustments to discount rate, revenue growth, and profit margin estimates do not materially impact their outlook for the company's stock price.ナラティブの更新 • Oct 20Omnichannel Expansion And JDcom Will Shape Digital FutureNarrative Update on Ceconomy Analysts have raised Ceconomy's fair value estimate from €4.27 to €4.53 per share, citing a modest improvement in profit margin projections, while expectations for revenue growth have been lowered. What's in the News JD.com's talks to acquire Ceconomy are reportedly in the final stages, with an official deal announcement possible soon (Reuters).お知らせ • Oct 16Ceconomy AG(XTRA:CEC) dropped from Germany SDAX (Total Return) IndexCeconomy AG has been dropped from the Germany Small DAX (Total Return) Index.お知らせ • Oct 10+ 3 more updatesCeconomy AG to Report Q1, 2026 Results on Feb 11, 2026Ceconomy AG announced that they will report Q1, 2026 results on Feb 11, 2026Reported Earnings • Aug 13Third quarter 2025 earnings released: €0.24 loss per share (vs €0.33 loss in 3Q 2024)Third quarter 2025 results: €0.24 loss per share (improved from €0.33 loss in 3Q 2024). Revenue: €4.80b (down 2.3% from 3Q 2024). Net loss: €114.0m (loss narrowed 30% from 3Q 2024). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings.Price Target Changed • Aug 03Price target increased by 12% to €4.29Up from €3.83, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of €4.44. The company is forecast to post earnings per share of €0.33 for next year compared to €0.16 last year.Price Target Changed • Jul 31Price target increased by 11% to €3.99Up from €3.59, the current price target is an average from 6 analysts. New target price is 10% below last closing price of €4.44. Stock is up 64% over the past year. The company is forecast to post earnings per share of €0.31 for next year compared to €0.16 last year.お知らせ • Jul 31JD.com, Inc. (NasdaqGS:JD) proposed to acquire 74.65% stake in Ceconomy AG (XTRA:CEC) from Convergenta Invest GmbH, Haniel Finance Deutschland GmbH, Beisheim Holding GmbH, freenet AG (XTRA:FNTN), BC Equities GmbH & Co. KG and others for €1.7 billion.JD.com, Inc. (NasdaqGS:JD) proposed to acquire 74.65% stake in Ceconomy AG (XTRA:CEC) from Convergenta Invest GmbH, Haniel Finance Deutschland GmbH, Beisheim Holding GmbH, freenet AG (XTRA:FNTN), BC Equities GmbH & Co. KG and others for €1.7 billion on July 30, 2025. A cash consideration valued at €4.6 per share will be paid by JD.com, Inc. JD.com and CECONOMY’s founder family shareholder Convergenta Invest GmbH entered into a shareholder agreement, through Convergenta currently holds approximately 29.16% of the shares in CECONOMY. Convergenta has committed to tender 18.5 million shares, representing 3.81% stake into the offer, hence retaining a stake of around 25.35% in CECONOMY thereafter. The Bidder has also entered into agreements with Haniel Finance Deutschland GmbH, Beisheim Holding GmbH, BC Equities GmbH & Co. KG and freenet AG – who together hold approximately 27.9% irrevocably undertaken to accept offer. The aggregate shareholders have irrevocably undertaken to accept the Takeover Offer with respect to 31.7% of the CECONOMY Shares in total (including 3.81% from Convergenta), securing a total shareholding of 57.1% in combination with the retained stake of JD.com’s future partner Convergenta ahead of the launch of the Takeover Offer. Upon successful completion of the offer, JD.com intends to pursue a delisting of CECONOMY. As part of the transaction, CECONOMY will remain a stand-alone business in Europe with a local independent technology stack, and no changes are planned to the workforce, employee agreements and sites. JD.com and CECONOMY have also signed an investment agreement to drive CECONOMY as a stand-alone business and accelerate CECONOMY’s transformation into Europe’s omni-channel consumer electronics platform. JD.com, renowned for its customer experience and e-commerce logistics service standards, will contribute its advanced technology, omni-channel retail expertise, and logistics and warehouse capabilities to the partnership. The transaction will be financed through a combination of acquisition loan and the Company’s cash on balance sheet. The Takeover Offer will be subject to customary conditions, including, among others, merger control, foreign direct investment and foreign subsidies clearances. The Takeover Offer will not be subject to a minimum acceptance rate. The closing of the Takeover Offer is expected to take place in the first half of 2026. Subject to a careful review of the offer document in accordance with their legal obligations, CECONOMY’s Management Board and Supervisory Board intend to recommend to shareholders the acceptance of the offer proposed. Lazard is acting as lead financial advisor to Ceconomy and J.P. Morgan is acting as financial advisor to the Supervisory Board of CECONOMY. Kirkland & Ellis is acting as legal advisor to CECONOMY. Deutsche Bank and Goldman Sachs are acting as financial advisors to JD.com and Baker McKenzie is acting as legal advisor to JD.com.分析記事 • Jun 25Does Ceconomy (ETR:CEC) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...分析記事 • May 18Here's What Analysts Are Forecasting For Ceconomy AG (ETR:CEC) After Its Interim ResultsAs you might know, Ceconomy AG ( ETR:CEC ) recently reported its half-yearly numbers. Results were roughly in line with...Reported Earnings • May 16Second quarter 2025 earnings released: €0.08 loss per share (vs €0.17 profit in 2Q 2024)Second quarter 2025 results: €0.08 loss per share (down from €0.17 profit in 2Q 2024). Revenue: €5.25b (down 1.6% from 2Q 2024). Net loss: €38.0m (down 145% from profit in 2Q 2024). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.分析記事 • May 13Is It Too Late To Consider Buying Ceconomy AG (ETR:CEC)?Ceconomy AG ( ETR:CEC ), is not the largest company out there, but it saw a decent share price growth of 17% on the...Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €3.28, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Specialty Retail industry in Germany. Total loss to shareholders of 2.4% over the past three years.Price Target Changed • Mar 31Price target increased by 7.2% to €3.53Up from €3.29, the current price target is an average from 7 analysts. New target price is 6.4% above last closing price of €3.32. Stock is up 78% over the past year. The company is forecast to post earnings per share of €0.32 for next year compared to €0.16 last year.お知らせ • Feb 27Ceconomy AG to Report Q4, 2025 Results on Dec 17, 2025Ceconomy AG announced that they will report Q4, 2025 results on Dec 17, 2025新しいナラティブ • Feb 25AI And Personalized Services Will Improve Future Customer Satisfaction And Retention Ceconomy's omnichannel and digital strategies have significantly boosted sales and market share, particularly in Germany, with continued potential for revenue growth. 分析記事 • Feb 20We Think Ceconomy AG's (ETR:CEC) CEO Compensation Package Needs To Be Put Under A MicroscopeKey Insights Ceconomy's Annual General Meeting to take place on 26th of February Total pay for CEO Karsten Wildberger...Major Estimate Revision • Feb 18Consensus EPS estimates fall by 12%, revenue upgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from €22.9b to €23.3b. EPS estimate fell from €0.367 to €0.322 per share. Net income forecast to grow 119% next year vs 39% growth forecast for Specialty Retail industry in Germany. Consensus price target up from €3.17 to €3.29. Share price was steady at €3.24 over the past week.Reported Earnings • Feb 12First quarter 2025 earnings released: EPS: €0.30 (vs €0.30 in 1Q 2024)First quarter 2025 results: EPS: €0.30 (in line with 1Q 2024). Revenue: €7.57b (up 8.4% from 1Q 2024). Net income: €148.0m (flat on 1Q 2024). Profit margin: 2.0% (down from 2.1% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 6.5% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.お知らせ • Feb 12Ceconomy AG to Report Q3, 2025 Results on Aug 12, 2025Ceconomy AG announced that they will report Q3, 2025 results on Aug 12, 2025New Risk • Feb 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company.Valuation Update With 7 Day Price Move • Jan 30Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €3.04, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Specialty Retail industry in Germany. Total loss to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.22 per share.分析記事 • Jan 15Ceconomy (ETR:CEC) Takes On Some Risk With Its Use Of DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...お知らせ • Jan 09Ceconomy AG, Annual General Meeting, Feb 26, 2025Ceconomy AG, Annual General Meeting, Feb 26, 2025, at 10:00 W. Europe Standard Time.分析記事 • Dec 25We Think Ceconomy's (ETR:CEC) Healthy Earnings Might Be ConservativeDespite posting healthy earnings, Ceconomy AG's ( ETR:CEC ) stock has been quite weak. We have done some analysis, and...Reported Earnings • Dec 19Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: €0.16 (up from €0.08 loss in FY 2023). Revenue: €22.4b (flat on FY 2023). Net income: €76.0m (up €115.0m from FY 2023). Profit margin: 0.3% (up from net loss in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 61%. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.New Risk • Dec 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results.Valuation Update With 7 Day Price Move • Dec 18Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to €2.58, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Specialty Retail industry in Germany. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.29 per share.お知らせ • Oct 30+ 1 more updateCeconomy AG to Report Q1, 2025 Results on Feb 11, 2025Ceconomy AG announced that they will report Q1, 2025 results on Feb 11, 2025分析記事 • Oct 12Does Ceconomy (ETR:CEC) Have A Healthy Balance Sheet?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Valuation Update With 7 Day Price Move • Sep 27Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €3.26, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Specialty Retail industry in Germany. Total loss to shareholders of 5.6% over the past three years.New Risk • Aug 18New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 42% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risk Large one-off items impacting financial results.分析記事 • Aug 17Ceconomy AG (ETR:CEC) Just Released Its Third-Quarter Earnings: Here's What Analysts ThinkInvestors in Ceconomy AG ( ETR:CEC ) had a good week, as its shares rose 3.7% to close at €2.88 following the release...Reported Earnings • Aug 15Third quarter 2024 earnings released: €0.33 loss per share (vs €0.38 loss in 3Q 2023)Third quarter 2024 results: €0.33 loss per share (improved from €0.38 loss in 3Q 2023). Revenue: €4.92b (up 8.6% from 3Q 2023). Net loss: €162.0m (loss narrowed 13% from 3Q 2023). Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.Major Estimate Revision • Jul 10Consensus EPS estimates increase by 11%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from €0.412 to €0.458. Revenue forecast steady at €22.3b. Net income forecast to grow 88% next year vs 40% growth forecast for Specialty Retail industry in Germany. Consensus price target of €2.94 unchanged from last update. Share price fell 6.0% to €2.80 over the past week.分析記事 • Jun 20We Think Ceconomy (ETR:CEC) Is Taking Some Risk With Its DebtSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...分析記事 • May 23Ceconomy (ETR:CEC) Is Posting Promising Earnings But The Good News Doesn’t Stop ThereInvestors signalled that they were pleased with Ceconomy AG's ( ETR:CEC ) most recent earnings report. Looking deeper...Valuation Update With 7 Day Price Move • May 22Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €3.00, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 3x in the Specialty Retail industry in Germany. Total loss to shareholders of 32% over the past three years.分析記事 • May 21Investors Still Aren't Entirely Convinced By Ceconomy AG's (ETR:CEC) Earnings Despite 44% Price JumpThe Ceconomy AG ( ETR:CEC ) share price has done very well over the last month, posting an excellent gain of 44...Price Target Changed • May 19Price target increased by 8.3% to €2.46Up from €2.27, the current price target is an average from 8 analysts. New target price is 14% below last closing price of €2.86. Stock is up 25% over the past year. The company is forecast to post earnings per share of €0.52 next year compared to a net loss per share of €0.08 last year.New Risk • May 16New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 1.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company.分析記事 • Feb 15Analysts Are Updating Their Ceconomy AG (ETR:CEC) Estimates After Its First-Quarter ResultsCeconomy AG ( ETR:CEC ) last week reported its latest first-quarter results, which makes it a good time for investors...Reported Earnings • Feb 11First quarter 2024 earnings released: EPS: €0.30 (vs €0.26 in 1Q 2023)First quarter 2024 results: EPS: €0.30 (up from €0.26 in 1Q 2023). Revenue: €6.98b (down 1.2% from 1Q 2023). Net income: €147.0m (up 16% from 1Q 2023). Profit margin: 2.1% (up from 1.8% in 1Q 2023). Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings.Reported Earnings • Dec 20Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: €0.08 loss per share (down from €0.31 profit in FY 2022). Revenue: €22.2b (up 2.2% from FY 2022). Net loss: €39.0m (down 131% from profit in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 6.3% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings.お知らせ • Dec 13Ceconomy AG to Report Fiscal Year 2024 Results on Dec 18, 2024Ceconomy AG announced that they will report fiscal year 2024 results on Dec 18, 2024New Risk • Nov 15New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.9x net interest cover). Minor Risks Dividend is not well covered by earnings (112% payout ratio). Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.07% net profit margin).Valuation Update With 7 Day Price Move • Nov 15Investor sentiment improves as stock rises 29%After last week's 29% share price gain to €2.39, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Specialty Retail industry in Germany. Total loss to shareholders of 40% over the past three years.分析記事 • Nov 15Is Ceconomy (ETR:CEC) A Risky Investment?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...お知らせ • Oct 27+ 2 more updatesCeconomy AG to Report Q3, 2024 Results on Aug 14, 2024Ceconomy AG announced that they will report Q3, 2024 results on Aug 14, 2024Major Estimate Revision • Oct 18Consensus EPS estimates fall by 84%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.0509 to €0.008 per share. Revenue forecast steady at €21.9b. Net income forecast to grow 573% next year vs 84% growth forecast for Specialty Retail industry in Germany. Consensus price target down from €2.37 to €2.28. Share price fell 5.6% to €1.94 over the past week.Major Estimate Revision • Sep 27Consensus EPS estimates fall from profit to €0.006 lossThe consensus outlook for fiscal year 2023 has been updated. Forecast loss of -€0.006 per share in 2023, versus previous forecasts of €0.0781 per share. Revenue forecast unchanged from €22.1b at last update. Specialty Retail industry in Germany expected to see average net income growth of 94% next year. Consensus price target broadly unchanged at €2.37. Share price fell 8.0% to €1.94 over the past week.Major Estimate Revision • Aug 17Consensus EPS estimates fall by 33%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.126 to €0.084 per share. Revenue forecast steady at €22.2b. Net income forecast to grow 713% next year vs 131% growth forecast for Specialty Retail industry in Germany. Consensus price target broadly unchanged at €2.37. Share price rose 3.5% to €2.68 over the past week.New Risk • Aug 13New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.9x net interest cover). Minor Risks Dividend is not well covered by earnings (112% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.07% net profit margin).Reported Earnings • Aug 13Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: €4.53b (down 2.8% from 3Q 2022). Net loss: €186.0m (loss widened 96% from 3Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 6.2% growth forecast for the Specialty Retail industry in Germany.お知らせ • Aug 03POWER International AS completed the acquisition of MediaMarkt stores in Sweden from Ceconomy AG.POWER International AS agreed to acquire MediaMarkt stores in Sweden from Ceconomy AG on February 14, 2023. As of April 4, 2023, Competition authorities approved this deal. Richard Åkerman, Peter Forsberg, Jenny Lundberg, Mikael Stabo and Anna Ribenfors of Hannes Snellman Attorneys Ltd acted as legal advisor to POWER International AS. POWER International AS completed the acquisition of MediaMarkt stores in Sweden from Ceconomy AG on August 1, 2023.分析記事 • Aug 03Calculating The Fair Value Of Ceconomy AG (ETR:CEC)Key Insights Using the 2 Stage Free Cash Flow to Equity, Ceconomy fair value estimate is €3.03 Ceconomy's €2.62 share...Valuation Update With 7 Day Price Move • Jul 13Investor sentiment improves as stock rises 23%After last week's 23% share price gain to €2.74, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Specialty Retail industry in Germany. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.48 per share.分析記事 • Jun 28We Think Ceconomy (ETR:CEC) Is Taking Some Risk With Its DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...New Risk • Jun 17New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 335% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (112% payout ratio). Share price has been volatile over the past 3 months (8.8% average weekly change). Large one-off items impacting financial results.Price Target Changed • Jun 09Price target increased by 9.9% to €2.27Up from €2.07, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of €2.23. Stock is down 23% over the past year. The company is forecast to post earnings per share of €0.13 for next year compared to €0.31 last year.Major Estimate Revision • Jun 07Consensus EPS estimates fall by 25%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.193 to €0.145 per share. Revenue forecast steady at €22.3b. Net income forecast to grow 2.6% next year vs 10% growth forecast for Specialty Retail industry in Germany. Consensus price target up from €2.05 to €2.15. Share price rose 2.1% to €2.21 over the past week.Major Estimate Revision • May 22Consensus EPS estimates fall by 15%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.227 to €0.193 per share. Revenue forecast steady at €22.1b. Net income forecast to grow 16% next year vs 16% growth forecast for Specialty Retail industry in Germany. Consensus price target up from €1.90 to €2.07. Share price fell 3.9% to €2.28 over the past week.Reported Earnings • May 21Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €5.30b (up 5.6% from 2Q 2022). Net loss: €47.0m (loss widened 124% from 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 6.7% growth forecast for the Specialty Retail industry in Germany.Price Target Changed • May 18Price target increased by 8.8% to €2.07Up from €1.90, the current price target is an average from 9 analysts. New target price is 7.4% below last closing price of €2.23. Stock is down 15% over the past year. The company is forecast to post earnings per share of €0.23 for next year compared to €0.31 last year.Price Target Changed • May 16Price target increased by 9.8% to €1.99Up from €1.81, the current price target is an average from 9 analysts. New target price is 13% below last closing price of €2.28. Stock is down 29% over the past year. The company is forecast to post earnings per share of €0.23 for next year compared to €0.31 last year.Buying Opportunity • May 16Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be €2.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 51%. For the next 3 years, revenue is forecast to grow by 1.0% per annum. Earnings is also forecast to grow by 18% per annum over the same time period.分析記事 • May 02A Look At The Fair Value Of Ceconomy AG (ETR:CEC)Key Insights Using the 2 Stage Free Cash Flow to Equity, Ceconomy fair value estimate is €2.93 Ceconomy's €2.76 share...Valuation Update With 7 Day Price Move • Apr 05Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to €2.04, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Specialty Retail industry in Germany. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.48 per share.分析記事 • Mar 23Ceconomy (ETR:CEC) Takes On Some Risk With Its Use Of DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...お知らせ • Feb 16POWER International AS agreed to acquire MediaMarkt stores in Sweden from Ceconomy AG.POWER International AS agreed to acquire MediaMarkt stores in Sweden from Ceconomy AG on February 14, 2023.Reported Earnings • Feb 15First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: €7.07b (up 3.1% from 1Q 2022). Net income: €127.0m (up 4.1% from 1Q 2022). Profit margin: 1.8% (in line with 1Q 2022). Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Specialty Retail industry in Germany.お知らせ • Feb 15+ 1 more updateCeconomy AG to Report Q3, 2023 Results on Aug 10, 2023Ceconomy AG announced that they will report Q3, 2023 results on Aug 10, 2023分析記事 • Jan 27Are Investors Undervaluing Ceconomy AG (ETR:CEC) By 26%?Key Insights Ceconomy's estimated fair value is €3.1 based on 2 Stage Free Cash Flow to Equity Current share price of...株主還元CECDE Specialty RetailDE 市場7D-5.2%3.9%1.5%1Y37.8%-19.4%-1.3%株主還元を見る業界別リターン: CEC過去 1 年間で-19.4 % の収益を上げたGerman Specialty Retail業界を上回りました。リターン対市場: CEC過去 1 年間で-1.3 % の収益を上げたGerman市場を上回りました。価格変動Is CEC's price volatile compared to industry and market?CEC volatilityCEC Average Weekly Movement3.0%Specialty Retail Industry Average Movement5.2%Market Average Movement6.2%10% most volatile stocks in DE Market13.3%10% least volatile stocks in DE Market2.7%安定した株価: CEC 、 German市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: CECの 週次ボラティリティ ( 3% ) は過去 1 年間安定しています。会社概要設立従業員CEO(最高経営責任者ウェブサイト200139,519Kai-Ulrich Deissnerwww.ceconomy.deセコノミーAGは、その子会社とともに家電小売業に従事している。メディアマルクト(MediaMarkt)とサターン(Saturn)のブランドで店舗を運営している。同社は、Deutsche Technikberatungブランドのもと、家庭での電子機器の設置、接続、トラブルシューティングに関する専門的なサポートを提供している。ドイツ、オーストリア、スイス、ハンガリー、西欧、南欧、東欧で事業を展開している。以前はMETRO AGとして知られていた。Ceconomy AGはドイツのデュッセルドルフに本社を置いている。もっと見るCeconomy AG 基礎のまとめCeconomy の収益と売上を時価総額と比較するとどうか。CEC 基礎統計学時価総額€1.91b収益(TTM)-€60.00m売上高(TTM)€23.32b0.1xP/Sレシオ-31.8xPER(株価収益率CEC は割高か?公正価値と評価分析を参照収益と収入最新の決算報告書(TTM)に基づく主な収益性統計CEC 損益計算書(TTM)収益€23.32b売上原価€19.08b売上総利益€4.24bその他の費用€4.30b収益-€60.00m直近の収益報告Mar 31, 2026次回決算日Jul 30, 2026一株当たり利益(EPS)-0.12グロス・マージン18.19%純利益率-0.26%有利子負債/自己資本比率155.7%CEC の長期的なパフォーマンスは?過去の実績と比較を見るView Valuation企業分析と財務データの現状データ最終更新日(UTC時間)企業分析2026/05/20 02:30終値2026/05/20 00:00収益2026/03/31年間収益2025/09/30データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM(Trailing Twelve Month)またはLTM(Last Twelve Month)データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Ceconomy AG 4 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。29 アナリスト機関Batuhan KarabekirBerenbergBruno MonteyneBernsteinGeoffrey d'HalluinBNP Paribas26 その他のアナリストを表示
Reported Earnings • May 18Second quarter 2026 earnings released: €0.19 loss per share (vs €0.068 loss in 2Q 2025)Second quarter 2026 results: €0.19 loss per share (further deteriorated from €0.068 loss in 2Q 2025). Revenue: €5.47b (up 4.1% from 2Q 2025). Net loss: €92.0m (loss widened 179% from 2Q 2025). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.
ライブニュース • May 14Ceconomy Reports 4% Sales Growth as JD.com Deal Faces Delays and Germany RestructuresCeconomy reported H1 2026 sales growth of 4% and like-for-like sales growth of 4.8% in Q2, alongside a 14.2% rise in adjusted EBIT. Online sales accounted for 28.5% of total sales, reflecting the company’s focus on its omnichannel model. Management highlighted ongoing restructuring in Germany and said the planned JD.com acquisition is facing delays due to pending regulatory approvals. The mix of higher sales, improved adjusted EBIT and a rising online share points to some operational progress. At the same time, the German restructuring and JD.com deal delays keep execution risk on the table. If you are following the stock, it is worth tracking how quickly the restructuring translates into further profitability changes and whether regulatory approvals for the JD.com transaction move forward within management’s expected timelines.
ナラティブの更新 • May 06CEC: Fair View Will Reflect CEO Transition And Refined Risk AssumptionsAnalysts have adjusted their price target on Ceconomy to €4.60, with the updated view reflecting slightly lower assumed risk through a reduced discount rate, while keeping fair value, revenue growth, profit margin and future P/E expectations broadly unchanged. What's in the News Ceconomy announced that Chief Executive Officer Dr. Kai Ulrich Deissner has asked to step down from his role for personal reasons in the course of 2026.
ナラティブの更新 • Apr 21CEC: Stable Outlook As CEO Transition And Assumption Tweaks Will Support Fair ValueNarrative Update on Ceconomy The latest analyst price target for Ceconomy has been adjusted to €4.60, with analysts pointing to small tweaks in the discount rate and forward P/E assumptions as the main drivers behind the updated view. What's in the News Chief Executive Officer Dr. Kai-Ulrich Deissner has requested to step down from his role at Ceconomy for personal reasons in the course of 2026, prompting an upcoming leadership transition discussion.
ナラティブの更新 • Apr 07CEC: Stable Outlook As CEO Succession Plans And Assumptions Will Support Fair ValueAnalysts have adjusted their price target on Ceconomy to €4.60, in line with the prior €4.60 level. This reflects modest updates to assumptions such as a slightly higher discount rate and a marginally different future P/E outlook.
ナラティブの更新 • Mar 24CEC: Stable Outlook As CEO Transition And Assumptions Point To Fair ValueAnalysts have kept their Ceconomy price target steady at €4.60, pointing to only small tweaks in discount rate, revenue growth, profit margin and future P/E assumptions rather than a change in their overall view. What's in the News Ceconomy announced that Chief Executive Officer Dr. Kai Ulrich Deissner has requested to step down from his role for personal reasons in the course of 2026, signaling an upcoming leadership change.
Reported Earnings • May 18Second quarter 2026 earnings released: €0.19 loss per share (vs €0.068 loss in 2Q 2025)Second quarter 2026 results: €0.19 loss per share (further deteriorated from €0.068 loss in 2Q 2025). Revenue: €5.47b (up 4.1% from 2Q 2025). Net loss: €92.0m (loss widened 179% from 2Q 2025). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.
ライブニュース • May 14Ceconomy Reports 4% Sales Growth as JD.com Deal Faces Delays and Germany RestructuresCeconomy reported H1 2026 sales growth of 4% and like-for-like sales growth of 4.8% in Q2, alongside a 14.2% rise in adjusted EBIT. Online sales accounted for 28.5% of total sales, reflecting the company’s focus on its omnichannel model. Management highlighted ongoing restructuring in Germany and said the planned JD.com acquisition is facing delays due to pending regulatory approvals. The mix of higher sales, improved adjusted EBIT and a rising online share points to some operational progress. At the same time, the German restructuring and JD.com deal delays keep execution risk on the table. If you are following the stock, it is worth tracking how quickly the restructuring translates into further profitability changes and whether regulatory approvals for the JD.com transaction move forward within management’s expected timelines.
ナラティブの更新 • May 06CEC: Fair View Will Reflect CEO Transition And Refined Risk AssumptionsAnalysts have adjusted their price target on Ceconomy to €4.60, with the updated view reflecting slightly lower assumed risk through a reduced discount rate, while keeping fair value, revenue growth, profit margin and future P/E expectations broadly unchanged. What's in the News Ceconomy announced that Chief Executive Officer Dr. Kai Ulrich Deissner has asked to step down from his role for personal reasons in the course of 2026.
ナラティブの更新 • Apr 21CEC: Stable Outlook As CEO Transition And Assumption Tweaks Will Support Fair ValueNarrative Update on Ceconomy The latest analyst price target for Ceconomy has been adjusted to €4.60, with analysts pointing to small tweaks in the discount rate and forward P/E assumptions as the main drivers behind the updated view. What's in the News Chief Executive Officer Dr. Kai-Ulrich Deissner has requested to step down from his role at Ceconomy for personal reasons in the course of 2026, prompting an upcoming leadership transition discussion.
ナラティブの更新 • Apr 07CEC: Stable Outlook As CEO Succession Plans And Assumptions Will Support Fair ValueAnalysts have adjusted their price target on Ceconomy to €4.60, in line with the prior €4.60 level. This reflects modest updates to assumptions such as a slightly higher discount rate and a marginally different future P/E outlook.
ナラティブの更新 • Mar 24CEC: Stable Outlook As CEO Transition And Assumptions Point To Fair ValueAnalysts have kept their Ceconomy price target steady at €4.60, pointing to only small tweaks in discount rate, revenue growth, profit margin and future P/E assumptions rather than a change in their overall view. What's in the News Ceconomy announced that Chief Executive Officer Dr. Kai Ulrich Deissner has requested to step down from his role for personal reasons in the course of 2026, signaling an upcoming leadership change.
ナラティブの更新 • Mar 10CEC: Slightly Lower Discount Rate And Margins Will Shape Fairly Valued OutlookAnalysts have adjusted their Ceconomy price target to €4.60, reflecting updated assumptions around the discount rate, modest revenue growth and profit margin expectations, as well as a slightly different forward P/E multiple. Valuation Changes Fair Value: unchanged at €4.60 per share.
ナラティブの更新 • Feb 22CEC: Revised Multiples And Margins Will Shape Fairly Valued OutlookAnalysts have trimmed their price target on Ceconomy by €1.64 to €6.57, citing slightly lower assumed revenue growth and P/E multiples, alongside higher projected profit margins and a modestly reduced discount rate. Valuation Changes Fair Value: €4.60 unchanged, with no adjustment to the underlying estimate.
Reported Earnings • Feb 12First quarter 2026 earnings released: EPS: €0.37 (vs €0.30 in 1Q 2025)First quarter 2026 results: EPS: €0.37 (up from €0.30 in 1Q 2025). Revenue: €7.61b (flat on 1Q 2025). Net income: €181.0m (up 22% from 1Q 2025). Profit margin: 2.4% (up from 2.0% in 1Q 2025). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.
ナラティブの更新 • Feb 07CEC: Index Removal And Unchanged Assumptions Will Guide Future ProspectsAnalysts have kept their price target for Ceconomy broadly unchanged, reflecting only very small adjustments to inputs such as the discount rate, long term revenue growth, profit margins and future P/E assumptions rather than a material shift in their overall view. Valuation Changes Fair Value: unchanged at 4.6, indicating no revision to the overall estimated worth of the shares.
ナラティブの更新 • Jan 23CEC: Index Removal And Steady Assumptions Will Shape Future ProspectsAnalysts have raised their price target for Ceconomy slightly, to €4.60 from €4.53, citing updated inputs such as a modestly adjusted discount rate and future P/E assumption in their valuation work. Valuation Changes Fair Value Estimate: Adjusted slightly from €4.53 to €4.60 per share.
Price Target Changed • Jan 12Price target increased by 7.7% to €4.60Up from €4.27, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of €4.49. The company is forecast to post earnings per share of €0.52 next year compared to a net loss per share of €0.072 last year.
ナラティブの更新 • Jan 08CEC: Index Removal And Steady Assumptions Will Shape Future ProspectsAnalysts have edged their price target for Ceconomy slightly higher to €4.53, reflecting small adjustments to assumptions on discount rate, long-term revenue growth, profit margin and future P/E that keep their overall valuation view broadly unchanged. What's in the News Ceconomy AG has been dropped from the Germany Small DAX (Total Return) Index, which may affect how some index funds and ETFs gain exposure to the stock (Key Developments).
お知らせ • Jan 07Ceconomy AG, Annual General Meeting, Feb 18, 2026Ceconomy AG, Annual General Meeting, Feb 18, 2026, at 10:00 W. Europe Standard Time.
ナラティブの更新 • Dec 19CEC: Index Removal And Mixed Profitability Assumptions Will Shape Future PerformanceAnalysts have trimmed their price target on Ceconomy to €4.53, reflecting slightly higher discount rates, more cautious margin expectations, and a higher assumed future P/E multiple, despite an improved revenue growth outlook. What's in the News Ceconomy AG has been removed as a constituent of the Germany Small DAX (Total Return) Index, which may affect its visibility among index-tracking investors (Key Developments).
Reported Earnings • Dec 18Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: €0.072 loss per share (down from €0.16 profit in FY 2024). Revenue: €23.1b (up 2.8% from FY 2024). Net loss: €35.0m (down 146% from profit in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings.
ナラティブの更新 • Dec 05CEC: Future Pricing Assumptions And Index Removal Will Shape Balanced PerformanceAnalysts have modestly raised their price target on Ceconomy to €4.53 from €4.53, reflecting slightly higher assumed discount rates and future valuation multiples while keeping long term growth and margin expectations broadly unchanged. What's in the News Ceconomy AG has been removed as a constituent from the Germany Small DAX (Total Return) Index, which may affect its visibility to index-tracking investors (Key Developments).
ナラティブの更新 • Nov 21CEC: Incremental Margin Gains And Index Exit Will Balance Future PerformanceAnalysts have reiterated their price target for Ceconomy at €4.53. They cite incremental improvements in profit margin and revenue growth forecasts, but note these are offset by a modest increase in the discount rate.
ナラティブの更新 • Nov 03CEC: Fair Value Steady As Index Exit And Minor Shifts Shape OutlookAnalysts have maintained their fair value estimate for Ceconomy at €4.53. They note that minor adjustments to discount rate, revenue growth, and profit margin estimates do not materially impact their outlook for the company's stock price.
ナラティブの更新 • Oct 20Omnichannel Expansion And JDcom Will Shape Digital FutureNarrative Update on Ceconomy Analysts have raised Ceconomy's fair value estimate from €4.27 to €4.53 per share, citing a modest improvement in profit margin projections, while expectations for revenue growth have been lowered. What's in the News JD.com's talks to acquire Ceconomy are reportedly in the final stages, with an official deal announcement possible soon (Reuters).
お知らせ • Oct 16Ceconomy AG(XTRA:CEC) dropped from Germany SDAX (Total Return) IndexCeconomy AG has been dropped from the Germany Small DAX (Total Return) Index.
お知らせ • Oct 10+ 3 more updatesCeconomy AG to Report Q1, 2026 Results on Feb 11, 2026Ceconomy AG announced that they will report Q1, 2026 results on Feb 11, 2026
Reported Earnings • Aug 13Third quarter 2025 earnings released: €0.24 loss per share (vs €0.33 loss in 3Q 2024)Third quarter 2025 results: €0.24 loss per share (improved from €0.33 loss in 3Q 2024). Revenue: €4.80b (down 2.3% from 3Q 2024). Net loss: €114.0m (loss narrowed 30% from 3Q 2024). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings.
Price Target Changed • Aug 03Price target increased by 12% to €4.29Up from €3.83, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of €4.44. The company is forecast to post earnings per share of €0.33 for next year compared to €0.16 last year.
Price Target Changed • Jul 31Price target increased by 11% to €3.99Up from €3.59, the current price target is an average from 6 analysts. New target price is 10% below last closing price of €4.44. Stock is up 64% over the past year. The company is forecast to post earnings per share of €0.31 for next year compared to €0.16 last year.
お知らせ • Jul 31JD.com, Inc. (NasdaqGS:JD) proposed to acquire 74.65% stake in Ceconomy AG (XTRA:CEC) from Convergenta Invest GmbH, Haniel Finance Deutschland GmbH, Beisheim Holding GmbH, freenet AG (XTRA:FNTN), BC Equities GmbH & Co. KG and others for €1.7 billion.JD.com, Inc. (NasdaqGS:JD) proposed to acquire 74.65% stake in Ceconomy AG (XTRA:CEC) from Convergenta Invest GmbH, Haniel Finance Deutschland GmbH, Beisheim Holding GmbH, freenet AG (XTRA:FNTN), BC Equities GmbH & Co. KG and others for €1.7 billion on July 30, 2025. A cash consideration valued at €4.6 per share will be paid by JD.com, Inc. JD.com and CECONOMY’s founder family shareholder Convergenta Invest GmbH entered into a shareholder agreement, through Convergenta currently holds approximately 29.16% of the shares in CECONOMY. Convergenta has committed to tender 18.5 million shares, representing 3.81% stake into the offer, hence retaining a stake of around 25.35% in CECONOMY thereafter. The Bidder has also entered into agreements with Haniel Finance Deutschland GmbH, Beisheim Holding GmbH, BC Equities GmbH & Co. KG and freenet AG – who together hold approximately 27.9% irrevocably undertaken to accept offer. The aggregate shareholders have irrevocably undertaken to accept the Takeover Offer with respect to 31.7% of the CECONOMY Shares in total (including 3.81% from Convergenta), securing a total shareholding of 57.1% in combination with the retained stake of JD.com’s future partner Convergenta ahead of the launch of the Takeover Offer. Upon successful completion of the offer, JD.com intends to pursue a delisting of CECONOMY. As part of the transaction, CECONOMY will remain a stand-alone business in Europe with a local independent technology stack, and no changes are planned to the workforce, employee agreements and sites. JD.com and CECONOMY have also signed an investment agreement to drive CECONOMY as a stand-alone business and accelerate CECONOMY’s transformation into Europe’s omni-channel consumer electronics platform. JD.com, renowned for its customer experience and e-commerce logistics service standards, will contribute its advanced technology, omni-channel retail expertise, and logistics and warehouse capabilities to the partnership. The transaction will be financed through a combination of acquisition loan and the Company’s cash on balance sheet. The Takeover Offer will be subject to customary conditions, including, among others, merger control, foreign direct investment and foreign subsidies clearances. The Takeover Offer will not be subject to a minimum acceptance rate. The closing of the Takeover Offer is expected to take place in the first half of 2026. Subject to a careful review of the offer document in accordance with their legal obligations, CECONOMY’s Management Board and Supervisory Board intend to recommend to shareholders the acceptance of the offer proposed. Lazard is acting as lead financial advisor to Ceconomy and J.P. Morgan is acting as financial advisor to the Supervisory Board of CECONOMY. Kirkland & Ellis is acting as legal advisor to CECONOMY. Deutsche Bank and Goldman Sachs are acting as financial advisors to JD.com and Baker McKenzie is acting as legal advisor to JD.com.
分析記事 • Jun 25Does Ceconomy (ETR:CEC) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
分析記事 • May 18Here's What Analysts Are Forecasting For Ceconomy AG (ETR:CEC) After Its Interim ResultsAs you might know, Ceconomy AG ( ETR:CEC ) recently reported its half-yearly numbers. Results were roughly in line with...
Reported Earnings • May 16Second quarter 2025 earnings released: €0.08 loss per share (vs €0.17 profit in 2Q 2024)Second quarter 2025 results: €0.08 loss per share (down from €0.17 profit in 2Q 2024). Revenue: €5.25b (down 1.6% from 2Q 2024). Net loss: €38.0m (down 145% from profit in 2Q 2024). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.
分析記事 • May 13Is It Too Late To Consider Buying Ceconomy AG (ETR:CEC)?Ceconomy AG ( ETR:CEC ), is not the largest company out there, but it saw a decent share price growth of 17% on the...
Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €3.28, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Specialty Retail industry in Germany. Total loss to shareholders of 2.4% over the past three years.
Price Target Changed • Mar 31Price target increased by 7.2% to €3.53Up from €3.29, the current price target is an average from 7 analysts. New target price is 6.4% above last closing price of €3.32. Stock is up 78% over the past year. The company is forecast to post earnings per share of €0.32 for next year compared to €0.16 last year.
お知らせ • Feb 27Ceconomy AG to Report Q4, 2025 Results on Dec 17, 2025Ceconomy AG announced that they will report Q4, 2025 results on Dec 17, 2025
新しいナラティブ • Feb 25AI And Personalized Services Will Improve Future Customer Satisfaction And Retention Ceconomy's omnichannel and digital strategies have significantly boosted sales and market share, particularly in Germany, with continued potential for revenue growth.
分析記事 • Feb 20We Think Ceconomy AG's (ETR:CEC) CEO Compensation Package Needs To Be Put Under A MicroscopeKey Insights Ceconomy's Annual General Meeting to take place on 26th of February Total pay for CEO Karsten Wildberger...
Major Estimate Revision • Feb 18Consensus EPS estimates fall by 12%, revenue upgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from €22.9b to €23.3b. EPS estimate fell from €0.367 to €0.322 per share. Net income forecast to grow 119% next year vs 39% growth forecast for Specialty Retail industry in Germany. Consensus price target up from €3.17 to €3.29. Share price was steady at €3.24 over the past week.
Reported Earnings • Feb 12First quarter 2025 earnings released: EPS: €0.30 (vs €0.30 in 1Q 2024)First quarter 2025 results: EPS: €0.30 (in line with 1Q 2024). Revenue: €7.57b (up 8.4% from 1Q 2024). Net income: €148.0m (flat on 1Q 2024). Profit margin: 2.0% (down from 2.1% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 6.5% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 12Ceconomy AG to Report Q3, 2025 Results on Aug 12, 2025Ceconomy AG announced that they will report Q3, 2025 results on Aug 12, 2025
New Risk • Feb 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company.
Valuation Update With 7 Day Price Move • Jan 30Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €3.04, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Specialty Retail industry in Germany. Total loss to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.22 per share.
分析記事 • Jan 15Ceconomy (ETR:CEC) Takes On Some Risk With Its Use Of DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
お知らせ • Jan 09Ceconomy AG, Annual General Meeting, Feb 26, 2025Ceconomy AG, Annual General Meeting, Feb 26, 2025, at 10:00 W. Europe Standard Time.
分析記事 • Dec 25We Think Ceconomy's (ETR:CEC) Healthy Earnings Might Be ConservativeDespite posting healthy earnings, Ceconomy AG's ( ETR:CEC ) stock has been quite weak. We have done some analysis, and...
Reported Earnings • Dec 19Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: €0.16 (up from €0.08 loss in FY 2023). Revenue: €22.4b (flat on FY 2023). Net income: €76.0m (up €115.0m from FY 2023). Profit margin: 0.3% (up from net loss in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 61%. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.
New Risk • Dec 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results.
Valuation Update With 7 Day Price Move • Dec 18Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to €2.58, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Specialty Retail industry in Germany. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.29 per share.
お知らせ • Oct 30+ 1 more updateCeconomy AG to Report Q1, 2025 Results on Feb 11, 2025Ceconomy AG announced that they will report Q1, 2025 results on Feb 11, 2025
分析記事 • Oct 12Does Ceconomy (ETR:CEC) Have A Healthy Balance Sheet?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
Valuation Update With 7 Day Price Move • Sep 27Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €3.26, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Specialty Retail industry in Germany. Total loss to shareholders of 5.6% over the past three years.
New Risk • Aug 18New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 42% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risk Large one-off items impacting financial results.
分析記事 • Aug 17Ceconomy AG (ETR:CEC) Just Released Its Third-Quarter Earnings: Here's What Analysts ThinkInvestors in Ceconomy AG ( ETR:CEC ) had a good week, as its shares rose 3.7% to close at €2.88 following the release...
Reported Earnings • Aug 15Third quarter 2024 earnings released: €0.33 loss per share (vs €0.38 loss in 3Q 2023)Third quarter 2024 results: €0.33 loss per share (improved from €0.38 loss in 3Q 2023). Revenue: €4.92b (up 8.6% from 3Q 2023). Net loss: €162.0m (loss narrowed 13% from 3Q 2023). Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.
Major Estimate Revision • Jul 10Consensus EPS estimates increase by 11%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from €0.412 to €0.458. Revenue forecast steady at €22.3b. Net income forecast to grow 88% next year vs 40% growth forecast for Specialty Retail industry in Germany. Consensus price target of €2.94 unchanged from last update. Share price fell 6.0% to €2.80 over the past week.
分析記事 • Jun 20We Think Ceconomy (ETR:CEC) Is Taking Some Risk With Its DebtSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
分析記事 • May 23Ceconomy (ETR:CEC) Is Posting Promising Earnings But The Good News Doesn’t Stop ThereInvestors signalled that they were pleased with Ceconomy AG's ( ETR:CEC ) most recent earnings report. Looking deeper...
Valuation Update With 7 Day Price Move • May 22Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €3.00, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 3x in the Specialty Retail industry in Germany. Total loss to shareholders of 32% over the past three years.
分析記事 • May 21Investors Still Aren't Entirely Convinced By Ceconomy AG's (ETR:CEC) Earnings Despite 44% Price JumpThe Ceconomy AG ( ETR:CEC ) share price has done very well over the last month, posting an excellent gain of 44...
Price Target Changed • May 19Price target increased by 8.3% to €2.46Up from €2.27, the current price target is an average from 8 analysts. New target price is 14% below last closing price of €2.86. Stock is up 25% over the past year. The company is forecast to post earnings per share of €0.52 next year compared to a net loss per share of €0.08 last year.
New Risk • May 16New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 1.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company.
分析記事 • Feb 15Analysts Are Updating Their Ceconomy AG (ETR:CEC) Estimates After Its First-Quarter ResultsCeconomy AG ( ETR:CEC ) last week reported its latest first-quarter results, which makes it a good time for investors...
Reported Earnings • Feb 11First quarter 2024 earnings released: EPS: €0.30 (vs €0.26 in 1Q 2023)First quarter 2024 results: EPS: €0.30 (up from €0.26 in 1Q 2023). Revenue: €6.98b (down 1.2% from 1Q 2023). Net income: €147.0m (up 16% from 1Q 2023). Profit margin: 2.1% (up from 1.8% in 1Q 2023). Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Dec 20Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: €0.08 loss per share (down from €0.31 profit in FY 2022). Revenue: €22.2b (up 2.2% from FY 2022). Net loss: €39.0m (down 131% from profit in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 6.3% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings.
お知らせ • Dec 13Ceconomy AG to Report Fiscal Year 2024 Results on Dec 18, 2024Ceconomy AG announced that they will report fiscal year 2024 results on Dec 18, 2024
New Risk • Nov 15New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.9x net interest cover). Minor Risks Dividend is not well covered by earnings (112% payout ratio). Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.07% net profit margin).
Valuation Update With 7 Day Price Move • Nov 15Investor sentiment improves as stock rises 29%After last week's 29% share price gain to €2.39, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Specialty Retail industry in Germany. Total loss to shareholders of 40% over the past three years.
分析記事 • Nov 15Is Ceconomy (ETR:CEC) A Risky Investment?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
お知らせ • Oct 27+ 2 more updatesCeconomy AG to Report Q3, 2024 Results on Aug 14, 2024Ceconomy AG announced that they will report Q3, 2024 results on Aug 14, 2024
Major Estimate Revision • Oct 18Consensus EPS estimates fall by 84%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.0509 to €0.008 per share. Revenue forecast steady at €21.9b. Net income forecast to grow 573% next year vs 84% growth forecast for Specialty Retail industry in Germany. Consensus price target down from €2.37 to €2.28. Share price fell 5.6% to €1.94 over the past week.
Major Estimate Revision • Sep 27Consensus EPS estimates fall from profit to €0.006 lossThe consensus outlook for fiscal year 2023 has been updated. Forecast loss of -€0.006 per share in 2023, versus previous forecasts of €0.0781 per share. Revenue forecast unchanged from €22.1b at last update. Specialty Retail industry in Germany expected to see average net income growth of 94% next year. Consensus price target broadly unchanged at €2.37. Share price fell 8.0% to €1.94 over the past week.
Major Estimate Revision • Aug 17Consensus EPS estimates fall by 33%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.126 to €0.084 per share. Revenue forecast steady at €22.2b. Net income forecast to grow 713% next year vs 131% growth forecast for Specialty Retail industry in Germany. Consensus price target broadly unchanged at €2.37. Share price rose 3.5% to €2.68 over the past week.
New Risk • Aug 13New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.9x net interest cover). Minor Risks Dividend is not well covered by earnings (112% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.07% net profit margin).
Reported Earnings • Aug 13Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: €4.53b (down 2.8% from 3Q 2022). Net loss: €186.0m (loss widened 96% from 3Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 6.2% growth forecast for the Specialty Retail industry in Germany.
お知らせ • Aug 03POWER International AS completed the acquisition of MediaMarkt stores in Sweden from Ceconomy AG.POWER International AS agreed to acquire MediaMarkt stores in Sweden from Ceconomy AG on February 14, 2023. As of April 4, 2023, Competition authorities approved this deal. Richard Åkerman, Peter Forsberg, Jenny Lundberg, Mikael Stabo and Anna Ribenfors of Hannes Snellman Attorneys Ltd acted as legal advisor to POWER International AS. POWER International AS completed the acquisition of MediaMarkt stores in Sweden from Ceconomy AG on August 1, 2023.
分析記事 • Aug 03Calculating The Fair Value Of Ceconomy AG (ETR:CEC)Key Insights Using the 2 Stage Free Cash Flow to Equity, Ceconomy fair value estimate is €3.03 Ceconomy's €2.62 share...
Valuation Update With 7 Day Price Move • Jul 13Investor sentiment improves as stock rises 23%After last week's 23% share price gain to €2.74, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Specialty Retail industry in Germany. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.48 per share.
分析記事 • Jun 28We Think Ceconomy (ETR:CEC) Is Taking Some Risk With Its DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
New Risk • Jun 17New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 335% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (112% payout ratio). Share price has been volatile over the past 3 months (8.8% average weekly change). Large one-off items impacting financial results.
Price Target Changed • Jun 09Price target increased by 9.9% to €2.27Up from €2.07, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of €2.23. Stock is down 23% over the past year. The company is forecast to post earnings per share of €0.13 for next year compared to €0.31 last year.
Major Estimate Revision • Jun 07Consensus EPS estimates fall by 25%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.193 to €0.145 per share. Revenue forecast steady at €22.3b. Net income forecast to grow 2.6% next year vs 10% growth forecast for Specialty Retail industry in Germany. Consensus price target up from €2.05 to €2.15. Share price rose 2.1% to €2.21 over the past week.
Major Estimate Revision • May 22Consensus EPS estimates fall by 15%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.227 to €0.193 per share. Revenue forecast steady at €22.1b. Net income forecast to grow 16% next year vs 16% growth forecast for Specialty Retail industry in Germany. Consensus price target up from €1.90 to €2.07. Share price fell 3.9% to €2.28 over the past week.
Reported Earnings • May 21Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €5.30b (up 5.6% from 2Q 2022). Net loss: €47.0m (loss widened 124% from 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 6.7% growth forecast for the Specialty Retail industry in Germany.
Price Target Changed • May 18Price target increased by 8.8% to €2.07Up from €1.90, the current price target is an average from 9 analysts. New target price is 7.4% below last closing price of €2.23. Stock is down 15% over the past year. The company is forecast to post earnings per share of €0.23 for next year compared to €0.31 last year.
Price Target Changed • May 16Price target increased by 9.8% to €1.99Up from €1.81, the current price target is an average from 9 analysts. New target price is 13% below last closing price of €2.28. Stock is down 29% over the past year. The company is forecast to post earnings per share of €0.23 for next year compared to €0.31 last year.
Buying Opportunity • May 16Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be €2.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 51%. For the next 3 years, revenue is forecast to grow by 1.0% per annum. Earnings is also forecast to grow by 18% per annum over the same time period.
分析記事 • May 02A Look At The Fair Value Of Ceconomy AG (ETR:CEC)Key Insights Using the 2 Stage Free Cash Flow to Equity, Ceconomy fair value estimate is €2.93 Ceconomy's €2.76 share...
Valuation Update With 7 Day Price Move • Apr 05Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to €2.04, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Specialty Retail industry in Germany. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.48 per share.
分析記事 • Mar 23Ceconomy (ETR:CEC) Takes On Some Risk With Its Use Of DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
お知らせ • Feb 16POWER International AS agreed to acquire MediaMarkt stores in Sweden from Ceconomy AG.POWER International AS agreed to acquire MediaMarkt stores in Sweden from Ceconomy AG on February 14, 2023.
Reported Earnings • Feb 15First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: €7.07b (up 3.1% from 1Q 2022). Net income: €127.0m (up 4.1% from 1Q 2022). Profit margin: 1.8% (in line with 1Q 2022). Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Specialty Retail industry in Germany.
お知らせ • Feb 15+ 1 more updateCeconomy AG to Report Q3, 2023 Results on Aug 10, 2023Ceconomy AG announced that they will report Q3, 2023 results on Aug 10, 2023
分析記事 • Jan 27Are Investors Undervaluing Ceconomy AG (ETR:CEC) By 26%?Key Insights Ceconomy's estimated fair value is €3.1 based on 2 Stage Free Cash Flow to Equity Current share price of...