Deutsche Börse Past Earnings Performance
Past criteria checks 3/6
Deutsche Börse has been growing earnings at an average annual rate of 12.2%, while the Capital Markets industry saw earnings declining at 1.1% annually. Revenues have been growing at an average rate of 13.1% per year. Deutsche Börse's return on equity is 20.7%, and it has net margins of 27.3%.
Key information
12.22%
Earnings growth rate
12.30%
EPS growth rate
| Capital Markets Industry Growth | 15.20% |
| Revenue growth rate | 13.12% |
| Return on equity | 20.68% |
| Net Margin | 27.29% |
| Next Earnings Update | 20 Oct 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jun 16
DB1: Future Returns Will Reflect Retail Trading And Prediction Market Upside
Analysts have trimmed the consolidated fair value estimate for Deutsche Börse stock by about €1.42 to €286.08, reflecting recent price target cuts from firms that still highlight potential long term opportunities in retail trading volumes and prediction markets. Analyst Commentary Recent research on Deutsche Börse reflects a mix of optimism about long term growth drivers and caution around how much of that potential is already reflected in the stock price.Narrative Update • Jun 02
DB1: Future Returns Will Reward Volatility Hedge Appeal And Premium Earnings Multiple
Analysts now see fair value for Deutsche Börse at €287.50, up from €282.46. This reflects a mix of recent target changes and upgrades, with some firms lifting their price targets while others have trimmed them, along with modest adjustments to assumptions on discount rate, revenue trends, profit margins, and future P/E.Narrative Update • Apr 27
DB1: Future Returns Will Balance Volatility Hedge Appeal And Clearing Revenue Dependence
Analysts have lifted the fair value estimate for Deutsche Börse from about €275 to roughly €282, citing adjustments to discount rates, slightly improved profit margin assumptions, and revised future P/E expectations as the main factors behind the higher collective price targets. Analyst Commentary Recent Street research on Deutsche Börse has skewed positive, with several upgrades and higher price targets clustered over a short period.Narrative Update • Apr 12
DB1: Future Returns Will Depend On Volatility Hedge And Clearing Revenue Potential
The analyst fair value estimate for Deutsche Börse edges up from €273.23 to €275.00, as analysts factor in slightly more supportive assumptions on discount rate, revenue trajectory and margins, along with a series of recent price target increases and upgrades that highlight its role as a volatility hedge and the potential upside in trading and clearing revenue. Analyst Commentary Bullish Takeaways Recent price target increases into the €270 to €302 range reflect bullish analysts building in more supportive assumptions on revenue and margins, which aligns with the modest uplift in the fair value estimate.Narrative Update • Mar 27
DB1: Future Upside Will Rely On Volatility Hedge And Trading Activity
The updated analyst price target for Deutsche Börse increases from about €261 to around €273, with analysts citing its role as a volatility hedge in European financials and the potential for higher trading and clearing revenue as key supports for this change. Analyst Commentary Recent research on Deutsche Börse has centered on how the stock reflects its role as a volatility hedge in European financials and the scope for trading and clearing revenue to support valuation.Narrative Update • Feb 23
DB1: Future Upside Will Be Driven By Mixed Price Revisions
Analysts have made a modest upward adjustment to their fair value estimate for Deutsche Börse to €260.54, reflecting mixed recent price target moves of around €2 to €6 and updated assumptions on discount rate, profit margin and future P/E. Analyst Commentary Recent street research on Deutsche Börse has been mixed, with one major bank lifting its price target while others have trimmed theirs by €6.Narrative Update • Feb 09
DB1: Future Upside Will Be Driven By Allfunds Deal Prospects
Narrative update on Deutsche Börse The analyst price target for Deutsche Börse has shifted only slightly, with a fair value move of about €0.29 to €258.00, as analysts factor in small adjustments to revenue growth, profit margin and future P/E following a mix of recent target raises and cuts across the Street. Analyst Commentary Recent Street research around Deutsche Börse has been fairly active, with several small price target changes clustered over the past few months.Narrative Update • Jan 25
DB1: Future Upside Will Be Driven By Allfunds Deal Potential
Analysts have lowered their price targets on Deutsche Börse by around €6, reflecting slightly softer expectations for revenue growth, profit margins and future P/E multiples in their updated models. Analyst Commentary Recent research updates on Deutsche Börse reflect a mixed but generally balanced view, with modest changes in price targets rather than sweeping shifts in conviction.Narrative Update • Jan 09
DB1: Future Upside Will Be Driven By Allfunds Deal And Crypto Partnership
Analysts have trimmed their fair value estimate for Deutsche Börse by about €4 to €257.71, reflecting slightly lower price targets and modestly softer assumptions for revenue growth and future P/E multiples. Analyst Commentary Recent Street research on Deutsche Börse has focused on modest price target adjustments and a steady stance on ratings, giving you a clearer sense of how valuation and execution risks are being weighed.Narrative Update • Dec 16
DB1: Future Upside Will Be Driven By Allfunds Deal Progress
Analysts have made a modest upward adjustment to their price target for Deutsche Börse to about EUR 261 from roughly EUR 261 previously. This reflects slightly improved medium term revenue expectations and a broadly stable profit outlook, despite a marginally higher discount rate and little change in projected valuation multiples.Narrative Update • Dec 02
DB1: Future Performance Will Benefit From Potential Allfunds Acquisition Progress
Analysts have slightly raised their fair value price target for Deutsche Börse from €256.47 to €260.54. They cite modest improvements in growth assumptions and a marginally lower discount rate, even though recent street research updates have shown mixed movements.Narrative Update • Nov 18
DB1: Future Revenue Streams Will Drive Robust Long-Term Performance
The analyst consensus price target for Deutsche Börse has been adjusted slightly downward from €257.60 to €256.47. This change reflects updated analyst expectations given recent minor revisions to revenue growth and risk assumptions.Narrative Update • Nov 01
DB1: Neutral Ratings And Stable Profit Outlook Will Sustain Market Confidence
Deutsche Börse's analyst price target has been revised slightly downward to €257.60 from €259.87. This change reflects analysts' assessment of modestly lower growth expectations along with a stable profit outlook.Narrative Update • Oct 18
European Integration And Regulatory Trends Will Fuel Enduring Market Stability
Narrative Update: Deutsche Börse Analyst Price Target Adjustment Analysts have slightly lowered their price target for Deutsche Börse, reducing it from approximately €267 to €260. This adjustment is attributed to softer projected revenue growth and a modestly lower fair value estimate.Narrative Update • Oct 04
European Integration And Regulatory Trends Will Fuel Enduring Market Stability
The analyst price target for Deutsche Börse has been slightly reduced in recent updates, as analysts cite modestly lowered fair value assessments and cautious expectations for revenue growth. This has resulted in a new consensus target that is only a few euros below previous forecasts.Analysis Article • Sep 01
Deutsche Börse AG's (ETR:DB1) Business Is Yet to Catch Up With Its Share Price
When close to half the companies in Germany have price-to-earnings ratios (or "P/E's") below 18x, you may consider...
New Narrative • Nov 07
Capital Markets Innovation And Critical Integration Propel Future Growth Potential
Strategic Horizon 2026 plan centers on capital markets infrastructure growth and disciplined capital allocation, supporting revenue and EPS growth through core business expansion.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Deutsche Börse makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 30 Jun 26 | 7,749 | 2,115 | 1,815 | 0 |
| 31 Mar 26 | 7,539 | 2,055 | 1,811 | 0 |
| 31 Dec 25 | 7,380 | 1,995 | 1,803 | 0 |
| 30 Sep 25 | 7,300 | 2,014 | 1,818 | 0 |
| 30 Jun 25 | 7,228 | 1,986 | 1,789 | 0 |
| 31 Mar 25 | 7,172 | 1,975 | 1,796 | 0 |
| 31 Dec 24 | 7,022 | 1,948 | 1,760 | 0 |
| 30 Sep 24 | 6,888 | 1,848 | 1,764 | 0 |
| 30 Jun 24 | 6,631 | 1,804 | 1,682 | 0 |
| 31 Mar 24 | 6,336 | 1,748 | 1,583 | 0 |
| 31 Dec 23 | 6,096 | 1,724 | 1,504 | 0 |
| 30 Sep 23 | 5,796 | 1,676 | 1,336 | 0 |
| 30 Jun 23 | 5,675 | 1,649 | 1,341 | 0 |
| 31 Mar 23 | 5,398 | 1,547 | 1,289 | 0 |
| 31 Dec 22 | 5,225 | 1,494 | 1,257 | 0 |
| 30 Sep 22 | 4,974 | 1,416 | 1,180 | 0 |
| 30 Jun 22 | 4,719 | 1,343 | 1,098 | 0 |
| 31 Mar 22 | 4,590 | 1,313 | 1,080 | 0 |
| 31 Dec 21 | 4,363 | 1,210 | 1,023 | 0 |
| 30 Sep 21 | 4,180 | 1,157 | 963 | 0 |
| 30 Jun 21 | 3,921 | 1,084 | 909 | 0 |
| 31 Mar 21 | 3,768 | 1,030 | 871 | 0 |
| 31 Dec 20 | 3,717 | 1,080 | 839 | 0 |
| 30 Sep 20 | 3,582 | 1,064 | 819 | 0 |
| 30 Jun 20 | 3,596 | 1,086 | 818 | 0 |
| 31 Mar 20 | 3,520 | 1,096 | 797 | 0 |
| 31 Dec 19 | 3,303 | 1,004 | 765 | 0 |
| 30 Sep 19 | 3,277 | 931 | 781 | 0 |
| 30 Jun 19 | 3,180 | 907 | 735 | 0 |
| 31 Mar 19 | 3,140 | 851 | 760 | 0 |
| 01 Jan 19 | 3,104 | 824 | 771 | 0 |
| 30 Sep 18 | 3,221 | 898 | 799 | 0 |
| 30 Jun 18 | 3,152 | 877 | 785 | 0 |
| 31 Mar 18 | 3,077 | 843 | 744 | 0 |
| 01 Jan 18 | 2,999 | 874 | 722 | 0 |
| 30 Sep 17 | 2,917 | 831 | 709 | 0 |
| 30 Jun 17 | 2,878 | 796 | 738 | 0 |
| 31 Mar 17 | 2,813 | 804 | 653 | 0 |
| 31 Dec 16 | 2,825 | 722 | 662 | 0 |
| 30 Sep 16 | 2,731 | 641 | 655 | 0 |
| 30 Jun 16 | 2,724 | 627 | 658 | 0 |
| 31 Mar 16 | 2,672 | 611 | 645 | 0 |
| 31 Dec 15 | 2,617 | 613 | 628 | 0 |
| 30 Sep 15 | 2,486 | 749 | 551 | 0 |
Quality Earnings: DB1 has high quality earnings.
Growing Profit Margin: DB1's current net profit margins (27.3%) are lower than last year (27.5%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: DB1's earnings have grown by 12.2% per year over the past 5 years.
Accelerating Growth: DB1's earnings growth over the past year (6.5%) is below its 5-year average (12.2% per year).
Earnings vs Industry: DB1 earnings growth over the past year (6.5%) did not outperform the Capital Markets industry 29.8%.
Return on Equity
High ROE: DB1's Return on Equity (20.7%) is considered high.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/08/19 00:46 |
| End of Day Share Price | 2026/08/19 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Deutsche Börse AG is covered by 29 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Jesús Domínguez Angulo | Banco de Sabadell. S.A. |
| Joanna Nader | Barclays |
| Michael Sanderson | Barclays |