WBAG:DBO

Stock Analysis Report

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Executive Summary

Deutsche Börse AG operates as an exchange organization in Europe, the United States, and the Asia-Pacific. More Details

Rewards

Earnings are forecast to grow 6.35% per year

Earnings grew by 19.7% over the past year

Pays a reliable dividend of 2.09%

Risk Analysis

No risks detected for DBO from our risk checks.


Snowflake Analysis

Flawless balance sheet with solid track record and pays a dividend.


Similar Companies

Share Price & News

How has Deutsche Börse's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DBO has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-5.1%

DBO

-0.9%

AT Capital Markets

-2.2%

AT Market


1 Year Return

-0.2%

DBO

1.3%

AT Capital Markets

-24.8%

AT Market

Return vs Industry: DBO underperformed the Austrian Capital Markets industry which returned 2.3% over the past year.

Return vs Market: DBO exceeded the Austrian Market which returned -23.7% over the past year.


Shareholder returns

DBOIndustryMarket
7 Day-5.1%-0.9%-2.2%
30 Day-5.0%2.9%2.5%
90 Day-17.4%-4.8%-3.2%
1 Year1.7%-0.2%3.9%1.3%-22.9%-24.8%
3 Year64.6%54.5%-2.8%-12.5%-19.3%-26.3%
5 Yearn/a0.4%-17.3%20.1%3.8%

Price Volatility Vs. Market

How volatile is Deutsche Börse's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Deutsche Börse undervalued compared to its fair value and its price relative to the market?

23.49x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: DBO (€139.45) is trading above our estimate of fair value (€128.45)

Significantly Below Fair Value: DBO is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: DBO is poor value based on its PE Ratio (23.5x) compared to the XE Capital Markets industry average (16.4x).

PE vs Market: DBO is poor value based on its PE Ratio (23.5x) compared to the Austrian market (18.5x).


Price to Earnings Growth Ratio

PEG Ratio: DBO is poor value based on its PEG Ratio (3.7x)


Price to Book Ratio

PB vs Industry: DBO is overvalued based on its PB Ratio (4.4x) compared to the XE Capital Markets industry average (1.1x).


Next Steps

Future Growth

How is Deutsche Börse forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

6.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DBO's forecast earnings growth (6.3% per year) is above the savings rate (0.5%).

Earnings vs Market: DBO's earnings (6.3% per year) are forecast to grow slower than the Austrian market (25.8% per year).

High Growth Earnings: DBO's earnings are forecast to grow, but not significantly.

Revenue vs Market: DBO's revenue (3.2% per year) is forecast to grow slower than the Austrian market (4.8% per year).

High Growth Revenue: DBO's revenue (3.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DBO's Return on Equity is forecast to be low in 3 years time (18.6%).


Next Steps

Past Performance

How has Deutsche Börse performed over the past 5 years?

9.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DBO has high quality earnings.

Growing Profit Margin: DBO's current net profit margins (30.2%) are higher than last year (28.5%).


Past Earnings Growth Analysis

Earnings Trend: DBO's earnings have grown by 9.8% per year over the past 5 years.

Accelerating Growth: DBO's earnings growth over the past year (19.7%) exceeds its 5-year average (9.8% per year).

Earnings vs Industry: DBO earnings growth over the past year (19.7%) exceeded the Capital Markets industry 12.6%.


Return on Equity

High ROE: DBO's Return on Equity (18.2%) is considered low.


Next Steps

Financial Health

How is Deutsche Börse's financial position?


Financial Position Analysis

Short Term Liabilities: DBO's short term assets (€211.7B) exceed its short term liabilities (€208.9B).

Long Term Liabilities: DBO's short term assets (€211.7B) exceed its long term liabilities (€13.2B).


Debt to Equity History and Analysis

Debt Level: DBO's debt to equity ratio (35.6%) is considered satisfactory.

Reducing Debt: DBO's debt to equity ratio has reduced from 47.4% to 35.6% over the past 5 years.

Debt Coverage: DBO's debt is well covered by operating cash flow (64.3%).

Interest Coverage: DBO's interest payments on its debt are well covered by EBIT (635.5x coverage).


Balance Sheet


Next Steps

Dividend

What is Deutsche Börse current dividend yield, its reliability and sustainability?

2.09%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: DBO's dividend (2.09%) is higher than the bottom 25% of dividend payers in the Austrian market (1.47%).

High Dividend: DBO's dividend (2.09%) is low compared to the top 25% of dividend payers in the Austrian market (4.81%).


Stability and Growth of Payments

Stable Dividend: DBO's dividends per share have been stable in the past 10 years.

Growing Dividend: DBO's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (49%), DBO's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DBO's dividends in 3 years are forecast to be well covered by earnings (46.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.6yrs

Average management tenure


CEO

Theodor Weimer (61 yo)

2.75yrs

Tenure

€5,493,000

Compensation

Dr. Theodor Weimer has been Member of the Supervisory Board at Knorr-Bremse Aktiengesellschaft since June 30, 2020. Dr. Theodor Weimer has been Chief Executive Officer of Deutsche Börse AG since January 1, ...


CEO Compensation Analysis

Compensation vs Market: Theodor's total compensation ($USD6.52M) is above average for companies of similar size in the Austrian market ($USD4.01M).

Compensation vs Earnings: Theodor's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Theodor Weimer
CEO & Chairman of Executive Board2.75yrs€5.49mno data
Gregor Pottmeyer
CFO & Member of Executive Board11yrs€2.73mno data
Thomas Book
Head of Derivatives Markets Trading & Member of the Executive Board2.25yrs€2.62mno data
Stephan Leithner
Member of the Executive Board2.25yrs€2.83mno data
Christoph Bohm
Chief Information Officer1.92yrs€2.89mno data
Heike Eckert
Director of Labor Relations & Compliance and Member of Executive Board0.25yrno datano data
Richard Green
Interim Chief Technology Officer7yrsno datano data
Jan Strecker
Head of Investor Relationsno datano datano data
James Freis
Chief Compliance Officer6.5yrsno datano data
Martin Reck
Managing Director of Group Functionalityno datano datano data
Holger Wohlenberg
Managing Director of Market Data & Analytics16.25yrsno datano data
Gudrun Feiertag
Head of Cash Market Product Design & Functionality13.92yrsno datano data

4.6yrs

Average Tenure

54yo

Average Age

Experienced Management: DBO's management team is considered experienced (4.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Gerd Tausendfreund
Employee Representative Member of the Supervisory Board2.42yrs€107.00kno data
Yok Tak Yip
Member of Supervisory Board5.42yrs€129.50kno data
Martin Jetter
Chairman of Supervisory Board0.42yr€143.70kno data
Karl-Heinz Flöther
Member of Supervisory Board8.42yrs€146.00kno data
Jutta Stuhlfauth
Employee Representative Deputy Chairperson of Supervisory Board2.42yrs€181.00kno data
Andreas Gottschling
Member of Supervisory Board0.25yrno datano data
Carsten Schafer
Employee Representative Member of Supervisory Board2.17yrs€138.00kno data
Barbara Lambert
Supervisory Board Member2.42yrs€171.00kno data
Nadine Absenger
Employee Representative Member of the Supervisory Board2.42yrs€114.00kno data
Markus Beck
Employee Representative Member of Supervisory Board2.17yrs€147.00kno data
Achim Karle
Employee Representatives Member of Supervisory Board2.17yrs€138.00kno data
Cornelis Johannes Kruijssen
Employee Representative Member of Supervisory Board2.17yrs€139.00kno data

2.3yrs

Average Tenure

57.5yo

Average Age

Experienced Board: DBO's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Deutsche Börse AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Deutsche Börse AG
  • Ticker: DBO
  • Exchange: WBAG
  • Founded:
  • Industry: Financial Exchanges and Data
  • Sector: Diversified Financials
  • Market Cap: €25.570b
  • Shares outstanding: 183.43m
  • Website: https://www.deutsche-boerse.com

Number of Employees


Location

  • Deutsche Börse AG
  • The Cube
  • Mergenthalerallee 61
  • Eschborn
  • Hessen
  • 65760
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DBOE.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDFeb 2001
DB1DB (Deutsche Boerse AG)YesOrdinary SharesDEEURFeb 2001
0H3TLSE (London Stock Exchange)YesOrdinary SharesGBEURFeb 2001
DB1XTRA (XETRA Trading Platform)YesOrdinary SharesDEEURFeb 2001
DB1DBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURFeb 2001
DBOWBAG (Wiener Boerse AG)YesOrdinary SharesATEURFeb 2001
DB1BIT (Borsa Italiana)YesOrdinary SharesITEURFeb 2001
DB1 NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNFeb 2001
DB1SWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFFeb 2001
DBOE.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDOct 2008
63DADB (Deutsche Boerse AG)UNSPONSORD ADRDEEUROct 2008

Biography

Deutsche Börse AG operates as an exchange organization in Europe, the United States, and the Asia-Pacific. The company operates through nine segments: Eurex (Financial Derivatives), EEX (Commodities), 360T ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/21 21:06
End of Day Share Price2020/10/21 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.