View ValuationCeconomy 향후 성장Future 기준 점검 4/6Ceconomy (는) 각각 연간 60.1% 및 2.4% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 59.9% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 28.9% 로 예상됩니다.핵심 정보60.1%이익 성장률59.93%EPS 성장률Specialty Retail 이익 성장29.5%매출 성장률2.4%향후 자기자본이익률28.93%애널리스트 커버리지Low마지막 업데이트13 May 2026최근 향후 성장 업데이트Price 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.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.분석 기사 • 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...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.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.모든 업데이트 보기Recent updatesReported Earnings • 15hSecond 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.속보 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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).공시 • Jan 07Ceconomy AG, Annual General Meeting, Feb 18, 2026Ceconomy AG, Annual General Meeting, Feb 18, 2026, at 10:00 W. Europe Standard Time.내러티브 업데이트 • 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.내러티브 업데이트 • 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).내러티브 업데이트 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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).공시 • Oct 16Ceconomy AG(XTRA:CEC) dropped from Germany SDAX (Total Return) IndexCeconomy AG has been dropped from the Germany Small DAX (Total Return) Index.공시 • 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.공시 • 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.분석 기사 • 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...분석 기사 • 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.분석 기사 • 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.공시 • Feb 27Ceconomy AG to Report Q4, 2025 Results on Dec 17, 2025Ceconomy AG announced that they will report Q4, 2025 results on Dec 17, 2025새로운 내러티브 • 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. 분석 기사 • 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.공시 • 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.분석 기사 • 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...공시 • Jan 09Ceconomy AG, Annual General Meeting, Feb 26, 2025Ceconomy AG, Annual General Meeting, Feb 26, 2025, at 10:00 W. Europe Standard Time.분석 기사 • 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.공시 • 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, 2025분석 기사 • 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.분석 기사 • 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.분석 기사 • 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...분석 기사 • 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.분석 기사 • 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.분석 기사 • 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.공시 • 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.분석 기사 • 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...공시 • 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.공시 • 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.분석 기사 • 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.분석 기사 • 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.분석 기사 • 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.분석 기사 • 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...공시 • 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.공시 • 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, 2023분석 기사 • 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...이익 및 매출 성장 예측XTRA:CEC - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수9/30/202824,9353353071,11929/30/202724,0062922451,06049/30/202623,7532642071,01723/31/202623,323-608721,036N/A12/31/202523,110-1771947N/A9/30/202523,072-358601,050N/A6/30/202522,83914776982N/A3/31/202522,954-34481689N/A12/31/202423,03583666865N/A9/30/202422,44276645838N/A6/30/202422,583135679856N/A3/31/202422,192112585754N/A12/31/202322,160-19466638N/A9/30/202322,242-398281,004N/A6/30/202322,132159121,122N/A3/31/202322,263104739967N/A12/31/202221,980131626851N/A9/30/202221,768126-79127N/A6/30/202221,69948-25155N/A3/31/202221,44877391550N/A12/31/202120,751191234386N/A9/30/202121,361222309450N/A6/30/202121,465172-1,007-891N/A3/31/202121,164135331437N/A12/31/202021,474-2549451,052N/A9/30/202020,831-2371,0711,183N/A6/30/202020,555-1922,1482,276N/A3/31/202021,014-136307445N/A12/31/201921,397184N/A114N/A9/30/201921,455121N/A65N/A6/30/201921,412167N/A114N/A3/31/201921,433111N/A590N/A12/31/201821,53625N/A662N/A9/30/201821,41822N/A684N/A6/30/201821,59816N/A592N/A3/31/201821,64166N/A736N/A12/31/201721,473161N/A-356N/A9/30/201721,605134N/A758N/A6/30/201721,50427N/A1,485N/A3/31/201721,56414N/A1,229N/A12/31/201621,873-12N/A1,082N/A9/30/201621,87047N/A1,569N/A6/30/201631,080-226N/A1,635N/A3/31/201640,358-51N/A1,454N/A12/31/201548,791-446N/A1,299N/A9/30/201559,219-263N/A1,846N/A6/30/201559,38245N/A1,692N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: CEC 은 향후 3년 동안 수익을 낼 것으로 예상되며, 이는 절약률(1.9%)보다 빠른 성장으로 간주됩니다.수익 vs 시장: CEC (는) 향후 3년 동안 평균 시장 성장보다 높은 수익을 올릴 것으로 예상됩니다.고성장 수익: CEC 향후 3년 내에 수익을 낼 것으로 예상됩니다.수익 대 시장: CEC 의 수익(연간 2.4%)이 German 시장(연간 7.1%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: CEC 의 수익(연간 2.4%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: CEC의 자본 수익률은 3년 후 28.9%로 높을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YRetail 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/18 19:56종가2026/05/18 00:00수익2026/03/31연간 수익2025/09/30데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Ceconomy AG는 29명의 분석가가 다루고 있습니다. 이 중 4명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Batuhan KarabekirBerenbergBruno MonteyneBernsteinGeoffrey d'HalluinBNP Paribas26명의 분석가 더 보기
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.
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.
분석 기사 • 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...
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.
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 • 15hSecond 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.
속보 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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).
공시 • Jan 07Ceconomy AG, Annual General Meeting, Feb 18, 2026Ceconomy AG, Annual General Meeting, Feb 18, 2026, at 10:00 W. Europe Standard Time.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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).
내러티브 업데이트 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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).
공시 • Oct 16Ceconomy AG(XTRA:CEC) dropped from Germany SDAX (Total Return) IndexCeconomy AG has been dropped from the Germany Small DAX (Total Return) Index.
공시 • 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.
공시 • 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.
분석 기사 • 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...
분석 기사 • 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.
분석 기사 • 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.
공시 • 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
새로운 내러티브 • 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.
분석 기사 • 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.
공시 • 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.
분석 기사 • 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...
공시 • Jan 09Ceconomy AG, Annual General Meeting, Feb 26, 2025Ceconomy AG, Annual General Meeting, Feb 26, 2025, at 10:00 W. Europe Standard Time.
분석 기사 • 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.
공시 • 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
분석 기사 • 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.
분석 기사 • 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.
분석 기사 • 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...
분석 기사 • 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.
분석 기사 • 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.
분석 기사 • 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.
공시 • 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.
분석 기사 • 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...
공시 • 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.
공시 • 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.
분석 기사 • 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.
분석 기사 • 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.
분석 기사 • 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.
분석 기사 • 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...
공시 • 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.
공시 • 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
분석 기사 • 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...