flatexDEGIRO AG

XTRA:FTK Stock Report

Market Cap: €1.5b

flatexDEGIRO Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

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 (€13.3) is trading below our estimate of fair value (€26.46)

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

Key Valuation Metric

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

Key metric: As FTK is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for FTK. This is calculated by dividing FTK's market cap by their current earnings.
What is FTK's PE Ratio?
PE Ratio12.4x
Earnings€116.96m
Market Cap€1.45b

Price to Earnings Ratio vs Peers

How does FTK's PE Ratio compare to its 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.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average54.8x
T2G Tradegate Wertpapierhandelsbank
87.1xn/a€2.2b
BFV Berliner Effektengesellschaft
59.4xn/a€822.9m
JDC JDC Group
57.6x24.8%€321.8m
BWB Baader Bank
15.2xn/a€199.1m
FTK flatexDEGIRO
12.4x8.4%€1.5b

Price-To-Earnings vs Peers: FTK is good value based on its Price-To-Earnings Ratio (12.4x) compared to the peer average (54.8x).

Price to Earnings Ratio vs Industry

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

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AR4 AURELIUS Equity Opportunities SE KGaA
3.9xn/aUS$405.06m
HXCK Ernst Russ
3.7x-18.2%US$207.83m
VG8 Varengold Bank
2xn/aUS$26.85m
XE8 Black Sea Property
0.7xn/aUS$7.76m
No more companies available in this PE range
FTK 12.4xIndustry Avg. 21.1xNo. of Companies7PE01632486480+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FTK is good value based on its Price-To-Earnings Ratio (12.4x) compared to the German Capital Markets industry average (20.7x).

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 Ratio12.4x
Fair PE Ratio14x

Price-To-Earnings vs Fair Ratio: FTK is good value based on its Price-To-Earnings Ratio (12.4x) compared to the estimated Fair Price-To-Earnings Ratio (14x).

Analyst Price Targets

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

The above table shows the analyst FTK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€13.30
€15.70
+18.0%
10.7%€18.00€13.00n/a11
Nov ’25€13.43
€15.44
+15.0%
10.7%€18.00€12.80n/a11
Oct ’25€13.68
€14.65
+7.2%
11.1%€17.00€12.30n/a11
Sep ’25€13.07
€14.68
+12.3%
10.8%€17.00€12.60n/a11
Aug ’25€13.00
€14.49
+11.5%
13.1%€17.00€10.70n/a11
Jul ’25€13.27
€13.47
+1.5%
16.5%€16.50€9.50n/a11
Jun ’25€14.07
€13.11
-6.8%
15.4%€16.50€9.50n/a11
May ’25€12.29
€13.02
+6.0%
16.1%€16.50€9.50n/a11
Apr ’25€10.40
€12.26
+18.0%
16.5%€16.50€9.50n/a11
Mar ’25€9.85
€12.30
+24.9%
15.8%€16.20€9.50n/a11
Feb ’25€10.03
€12.30
+22.6%
15.8%€16.20€9.50n/a11
Jan ’25€11.17
€11.80
+5.6%
17.7%€16.20€9.00n/a11
Dec ’24€10.79
€11.80
+9.3%
17.7%€16.20€9.00n/a11
Nov ’24€9.56
€11.73
+22.7%
18.4%€16.20€9.00€13.4311
Oct ’24€8.30
€11.03
+32.9%
18.9%€15.60€9.00€13.6811
Sep ’24€8.12
€10.96
+35.0%
19.6%€15.60€8.30€13.0711
Aug ’24€8.81
€10.96
+24.4%
19.6%€15.60€8.30€13.0011
Jul ’24€9.08
€10.93
+20.3%
22.1%€16.60€8.30€13.2711
Jun ’24€8.83
€10.56
+19.6%
22.5%€16.60€8.30€14.0711
May ’24€9.75
€10.55
+8.2%
23.7%€16.60€7.70€12.2911
Apr ’24€7.95
€10.75
+35.3%
28.9%€16.60€7.50€10.4011
Mar ’24€8.15
€10.58
+29.8%
29.3%€16.60€7.10€9.8511
Feb ’24€7.84
€11.19
+42.7%
34.3%€19.80€7.10€10.0310
Jan ’24€6.33
€11.19
+76.9%
34.3%€19.80€7.10€11.1710
Dec ’23€10.42
€16.10
+54.6%
26.2%€25.40€10.10€10.7910
Nov ’23€9.28
€16.02
+72.7%
27.1%€25.40€9.30€9.5610

Analyst Forecast: Target price is less than 20% higher than the current share price.

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