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FTK

flatexDEGIRO XTRA:FTK Stock Report

Last Price

€11.57

Market Cap

€1.3b

7D

8.2%

1Y

-46.5%

Updated

15 Aug, 2022

Data

Company Financials +
FTK fundamental analysis
Snowflake Score
Valuation4/6
Future Growth4/6
Past Performance2/6
Financial Health4/6
Dividends0/6

FTK Stock Overview

flatexDEGIRO AG provides online brokerage and IT solutions in the areas of finance and financial technology services in Europe.

flatexDEGIRO Competitors

Price History & Performance

Summary of all time highs, changes and price drops for flatexDEGIRO
Historical stock prices
Current Share Price€11.57
52 Week High€23.05
52 Week Low€8.49
Beta1.35
1 Month Change30.15%
3 Month Change-14.61%
1 Year Change-46.50%
3 Year Change63.82%
5 Year Change191.80%
Change since IPO968.82%

Recent News & Updates

Shareholder Returns

FTKDE Capital MarketsDE Market
7D8.2%-1.0%0.3%
1Y-46.5%-7.6%-20.0%

Return vs Industry: FTK underperformed the German Capital Markets industry which returned -8.8% over the past year.

Return vs Market: FTK underperformed the German Market which returned -20.4% over the past year.

Price Volatility

Is FTK's price volatile compared to industry and market?
FTK volatility
FTK Average Weekly Movement8.5%
Capital Markets Industry Average Movement5.3%
Market Average Movement5.7%
10% most volatile stocks in DE Market10.3%
10% least volatile stocks in DE Market2.8%

Stable Share Price: FTK is more volatile than 75% of German stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: FTK's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of German stocks.

About the Company

FoundedEmployeesCEOWebsite
19991,129Frank Niehagehttps://www.flatex.com

flatexDEGIRO AG provides online brokerage and IT solutions in the areas of finance and financial technology services in Europe. It operates through Financial Services (FIN) and Technologies (TECH) segments. The FIN segment offers business-to-consumer online brokerage, business-to-business white-label banking, electronic securities settlement, custody account management, and other banking products and services.

flatexDEGIRO Fundamentals Summary

How do flatexDEGIRO's earnings and revenue compare to its market cap?
FTK fundamental statistics
Market Cap€1.27b
Earnings (TTM)€51.54m
Revenue (TTM)€405.67m

24.7x

P/E Ratio

3.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FTK income statement (TTM)
Revenue€405.67m
Cost of Revenue€75.33m
Gross Profit€330.34m
Other Expenses€278.79m
Earnings€51.54m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Aug 30, 2022

Earnings per share (EPS)0.47
Gross Margin81.43%
Net Profit Margin12.71%
Debt/Equity Ratio30.4%

How did FTK perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is FTK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FTK?

Other financial metrics that can be useful for relative valuation.

FTK key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio0.8x

Price to Earnings Ratio vs Peers

How does FTK's PE Ratio compare to its peers?

FTK PE Ratio vs Peers
The above table shows the PE ratio for FTK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average92.9x
BFV Berliner Effektengesellschaft
13.5xn/a€1.0b
T2G Tradegate Wertpapierhandelsbank
26.2xn/a€2.7b
EUX EUWAX
324.7xn/a€339.9m
LUS1 Lang & Schwarz
7.2xn/a€150.1m
FTK flatexDEGIRO
24.7x29.4%€1.3b

Price-To-Earnings vs Peers: FTK is good value based on its Price-To-Earnings Ratio (24.7x) compared to the peer average (92.9x).


Price to Earnings Ratio vs Industry

How does FTK's PE Ratio compare vs other companies in the DE Capital Markets Industry?

Price-To-Earnings vs Industry: FTK is expensive based on its Price-To-Earnings Ratio (24.7x) compared to the German Capital Markets industry average (10.8x)


Price to Earnings Ratio vs Fair Ratio

What is FTK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FTK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.7x
Fair PE Ratio25.2x

Price-To-Earnings vs Fair Ratio: FTK is good value based on its Price-To-Earnings Ratio (24.7x) compared to the estimated Fair Price-To-Earnings Ratio (25.2x).


Share Price vs Fair Value

What is the Fair Price of FTK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FTK (€11.57) is trading below our estimate of fair value (€31.76)

Significantly Below Fair Value: FTK is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is flatexDEGIRO forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


29.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FTK's forecast earnings growth (29.4% per year) is above the savings rate (-0.01%).

Earnings vs Market: FTK's earnings (29.4% per year) are forecast to grow faster than the German market (9.4% per year).

High Growth Earnings: FTK's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FTK's revenue (12.8% per year) is forecast to grow faster than the German market (4.8% per year).

High Growth Revenue: FTK's revenue (12.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FTK's Return on Equity is forecast to be low in 3 years time (19.5%).


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Past Performance

How has flatexDEGIRO performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


30.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FTK has high quality earnings.

Growing Profit Margin: FTK's current net profit margins (12.7%) are lower than last year (19.5%).


Past Earnings Growth Analysis

Earnings Trend: FTK's earnings have grown significantly by 30.4% per year over the past 5 years.

Accelerating Growth: FTK's earnings growth over the past year (3.3%) is below its 5-year average (30.4% per year).

Earnings vs Industry: FTK earnings growth over the past year (3.3%) underperformed the Capital Markets industry 13.6%.


Return on Equity

High ROE: FTK's Return on Equity (10.3%) is considered low.


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Financial Health

How is flatexDEGIRO's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: FTK's short term assets (€3.0B) do not cover its short term liabilities (€3.1B).

Long Term Liabilities: FTK's short term assets (€3.0B) exceed its long term liabilities (€135.2M).


Debt to Equity History and Analysis

Debt Level: FTK has more cash than its total debt.

Reducing Debt: FTK's debt to equity ratio has reduced from 70.4% to 30.4% over the past 5 years.

Debt Coverage: FTK's debt is well covered by operating cash flow (257.2%).

Interest Coverage: Insufficient data to determine if FTK's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is flatexDEGIRO current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate FTK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FTK's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FTK's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FTK's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: FTK is not paying a notable dividend for the German market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as FTK has not reported any payouts.


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Management

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

0.8yrs

Average management tenure


CEO

Frank Niehage (54 yo)

8yrs

Tenure

€1,525,000

Compensation

Mr. Frank Niehage, LLM, serves as the Chief Executive Officer of subsidiary AKTIONAERSBANK. Mr. Niehage has been Chief Executive Officer of flatexDEGIRO AG (formerly known as flatex AG) (formerly known as,...


CEO Compensation Analysis

Compensation vs Market: Frank's total compensation ($USD1.55M) is about average for companies of similar size in the German market ($USD1.56M).

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


Leadership Team

Experienced Management: FTK's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: FTK's board of directors are considered experienced (5.5 years average tenure).


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

flatexDEGIRO AG's employee growth, exchange listings and data sources


Key Information

  • Name: flatexDEGIRO AG
  • Ticker: FTK
  • Exchange: XTRA
  • Founded: 1999
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Implied Market Cap: €1.271b
  • Shares outstanding: 109.89m
  • Website: https://www.flatex.com

Number of Employees


Location

  • flatexDEGIRO AG
  • Rotfeder-Ring 7
  • Frankfurt am Main
  • Hessen
  • 60327
  • Germany

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/15 00:00
End of Day Share Price2022/08/15 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.