New Risk • May 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Board Change • May 20
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non-Executive Director Vic Jokovic was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 30
ASX Limited Appoints Darren Yip as Interim Chief Executive Officer, Effective 29 May 2026 ASX Limited (ASX) announced the appointment of Group Executive Markets and Listings, Darren Yip as Interim Chief Executive Officer. Mr. Yip's appointment, which will be effective from 29 May 2026, follows its February announcement that Managing Director and CEO Helen Lofthouse was departing the Group. Mr. Yip is a highly experienced capital markets executive with strong knowledge of ASX's operations, strategy and regulatory environment. Joining ASX in 2023, he has over 20 years' experience in global financial markets and has a strong track record in senior leadership roles. He will lead the organisation on an interim basis as the Board continues with a comprehensive search for a permanent CEO. ASX will update the market on the CEO search process in due course. Announcement • Apr 21
Asx Limited Confirms Chess Release 1 Ready for Market Open ASX Limited has reached an important milestone for the CHESS Project, with Release 1 of the application ready to provide clearing services. All Approved Market Operators (AMO) have advised they successfully connected ahead of market open. There has been extensive testing as part of the readiness and the application will be closely monitored throughout. CHESS Release 1 offers clearing services on a modern platform that is designed to be sustainable, secure and resilient, and importantly, able to accommodate significantly higher trading volumes. The increased market volatility we’ve witnessed in the past few weeks highlights the importance of providing resilient infrastructure that can process increased volumes, and CHESS also has the ability to scale further when needed. Release 1 of the CHESS Project is a key step in the execution of the technology modernisation strategy, and the design of the solution we’ve chosen will enable further innovation to meet the evolving needs of the market. This morning we cut over to the new clearing component of the CHESS system, with users connected ahead of market open. While company have seen successful connections from CHESS users to the new clearing component, the true test will come from meeting key milestones including market open and trading, batch settlement, and end-of-day processing. The teams are closely monitoring for normal operation of clearing services and supporting CHESS users. The CHESS Project’s two-release approach reflects consultation feedback, reduces delivery risk, and manages change impact across the industry. More broadly, how company reassessed the CHESS Project and how we’ve delivered Release 1 is a direct translation of the transformation strategy; elevating the importance of stakeholder engagement and building a modern technology stack that is sustainable, secure and resilient. As we monitor go-live activities through market open, commencement of trading, and batch settlement, company have contingency plans available to address a range of technical issues should they arise, and company will engage with the industry participants if company need to activate them. Updates on CHESS system performance will be made available on ASX’s system status page or otherwise advised to the market. Project costs for CHESS Release 1 are expected to be within the previously provided estimate of around AUD 125 million. Work on Release 2 – which will provide settlement and sub register services – is progressing and on 30 March 2026 the project team opened the industry test environment to support software providers with readiness activities. ASX continues to work with the industry towards 2029 for the delivery of CHESS Release 2. Announcement • Feb 12
ASX Limited Announces Interim Dividend for the First Half of Fiscal 2026, Payable on 23 March 2026 ASX Limited announced that the first half 2026 interim dividend of 101.8 AUD cents is down 8.5% on pcp. This reflects a payout ratio of 75.0% of underlying net profit after tax, versus a payout ratio of 85% of underlying net profit after tax in the pcp. The interim dividend is fully franked and is scheduled to be paid on 23 March 2026. Announcement • Dec 15
ASX Limited to Report First Half, 2026 Results on Feb 12, 2026 ASX Limited announced that they will report first half, 2026 results on Feb 12, 2026 Announcement • Dec 05
ASX Limited Appoints Dee McGrath as New Non-Executive Director, Effective December 4, 2025 ASX Limited has appointed Dee McGrath as a new non-executive director to the ASX Board effective December 4, 2025. Ms McGrath's appointment continues ASX's ongoing Board renewal. The appointment follows the appointment of Anne Loveridge AM as non-executive director on the ASX Board in July 2025 and the appointment of John Cincotta as a non-ASX director on ASX's Clearing and Settlement Boards in October 2025. Ms McGrath brings more than 30 years of experience spanning business, technology, and financial services
on a global scale. She has effectively guided organizations and their teams through various economic cycles, overseeing mergers and acquisitions, large-scale business transformations, and complex regulatory changes. Additionally, she has successfully led businesses into new international markets and managed strategic acquisitions, divestments, as well as both debt and equity financing initiatives. Ms McGrath was previously Chief Executive Officer, Retirement Solutions at MUFG Pension & Market Services. Prior to her career with MUFG, she had held senior executive roles at IBM, Visa Inc, HP Services, and National Australia Bank. Ms McGrath is currently a director of GMHBA Limited and Revolut Australia. She was a director for IBM
Australia and has also served as a director at companies associated with MUFG businesses, including Smart Pension UK, and Retire360. Ms McGrath is a member of Chief Executive Women and is a Graduate of the Australian Institute of Company Directors. Announcement • Jun 13
An undisclosed buyer acquired 5.4% stake in Digital Asset Holdings, LLC from ASX Limited (ASX:ASX). An undisclosed buyer entered into an agreement to acquire 5.4% stake in Digital Asset Holdings, LLC from ASX Limited (ASX:ASX) for AUD 57 million on June 13, 2025. The sale will be recognised as part of ASX’s FY25 financial results, with ASX recognising a pre-tax gain of approximately AUD 42 million compared to ASX’s current carrying value of Digital Asset. The gain on sale will be recognised directly in the asset revaluation reserve in equity in accordance with the accounting treatment applied to the investment when it was acquired. The sale price represents a pre-tax gain of approximately AUD 10 million on ASX’s original acquisition cost.
An undisclosed buyer completed the acquisition of 5.4% stake in Digital Asset Holdings, LLC from ASX Limited (ASX:ASX) on June 13, 2025. Announcement • Feb 14
ASX Limited Announces Dividend for the Period of Six Months Ended December 31, 2024, Payable March 21, 2025 ASX Limited announced dividend of AUD 1.11200000 per share for the period of six months ended December 31, 2024 . Ex-dividend date: February 21, 2025, Record date for dividend entitlements: February 24, 2025, Scheduled dividend payment date: March 21, 2025. Announcement • Sep 12
ASX Limited Appoints David Clarke as Director ASX Limited appointed David Clarke as director. Date of appointment is 11 September 2024. Reported Earnings • Aug 16
Full year 2024 earnings released: EPS: AU$2.45 (vs AU$1.64 in FY 2023) Full year 2024 results: EPS: AU$2.45 (up from AU$1.64 in FY 2023). Revenue: AU$1.58b (up 13% from FY 2023). Net income: AU$474.2m (up 49% from FY 2023). Profit margin: 30% (up from 23% in FY 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 9.6% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to grow by 1.4%. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 10% per year. Announcement • May 06
ASX Limited Announces Board Changes ASX Limited announced the appointment of Wayne Byres as non-executive director to the company Board on May 6, 2024. Mr. Byres brings over 30 years' experience in financial services regulation, risk management, governance and public policy in both domestic and international roles. He has held high-profile supervisory roles including as the former Chair of the Australian Prudential Regulation Authority (APRA) and as the Secretary General of the Basel Committee on Banking Supervision. In his role as APRA Chair Mr. Byres served on the Reserve Bank of Australia's Payments System Board and was a member of the Australian Council of Financial Regulators. The appointment of Mr. Byres continues the program of board renewal under Mr. Roche, who, since taking the role of Chair in April 2021, has overseen the appointment of five new non-executive directors. The company also confirms that non-executive director Yasmin Allen AM has announced her intention to retire from the Board and she will step down at the conclusion of the September Board meeting. Ms. Allen was first appointed to the company’s Board in February 2015. Mr. Byres is a highly credentialed financial services leader who has held several key prudential supervisory roles in Australia and overseas. He is presently an expert advisor to the International Monetary Fund and was previously Chair of the Australian Prudential Regulation Authority for eight years to 2022. In his role as APRA Chair Mr. Byres served on the Reserve Bank of Australia's Payments System Board and was a member of the Australian Council of Financial Regulators. Prior to his role as APRA Chair Mr. Byres served as Secretary General to the Basel Committee on Banking Supervision where he was responsible for facilitating the successful completion of international negotiations on several post-Global Financial Crisis reforms to banking regulation. His earlier career included several senior leadership roles at APRA, as well as roles at the Reserve Bank of Australia and the Bank of England. In February 2024, Mr. Byres was appointed as a non-executive director of Macquarie Bank Limited and is one of three bank-only, non-executive directors within the Macquarie Group. He is a senior fellow of the Financial Services Institute of Australasia and a graduate of the Australian Institute of Company Directors. Upcoming Dividend • Feb 23
Upcoming dividend of AU$1.01 per share Eligible shareholders must have bought the stock before 01 March 2024. Payment date: 27 March 2024. Payout ratio is on the higher end at 87% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (5.3%). In line with average of industry peers (3.1%). Declared Dividend • Feb 19
First half dividend of AU$1.01 announced Shareholders will receive a dividend of AU$1.01. Ex-date: 1st March 2024 Payment date: 27th March 2024 Dividend yield will be 4.3%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (87% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 18
First half 2024 earnings released: EPS: AU$1.19 (vs AU$0.38 in 1H 2023) First half 2024 results: EPS: AU$1.19 (up from AU$0.38 in 1H 2023). Revenue: AU$771.7m (up 17% from 1H 2023). Net income: AU$230.5m (up 213% from 1H 2023). Profit margin: 30% (up from 11% in 1H 2023). The increase in margin was primarily driven by higher revenue. Revenue is expected to decline by 6.7% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to grow by 4.7%. Over the last 3 years on average, earnings per share has fallen by 10% 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. Buy Or Sell Opportunity • Jan 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to €39.20. The fair value is estimated to be €32.37, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to decline by 3.0% per annum. Earnings are forecast to grow by 12% per annum over the same time period. Announcement • Sep 02
Tradeweb Markets Inc. (NasdaqGS:TW) entered into a definitive agreement to acquire Yieldbroker Pty Limited from ASX Limited (ASX:ASX) and others. Tradeweb Markets Inc. (NasdaqGS:TW) entered into a definitive agreement to acquire Yieldbroker Pty Limited from ASX Limited (ASX:ASX) and others for approximately AUD 130 million on May 24, 2023. The transaction is subject to customary closing conditions and regulatory reviews. The transaction is expected to close later this year. Goldman Sachs Australia Pty Ltd acted as financial advisor to Yieldbroker Pty Limited.
Tradeweb Markets Inc. (NasdaqGS:TW) entered into a definitive agreement to acquire Yieldbroker Pty Limited from ASX Limited (ASX:ASX) and others on August 31, 2023. The transaction was subject to a number of conditions, including regulatory approvals, which have been satisfied. Upcoming Dividend • Aug 31
Upcoming dividend of AU$1.12 per share at 4.0% yield Eligible shareholders must have bought the stock before 07 September 2023. Payment date: 27 September 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.9%). Higher than average of industry peers (3.1%). Announcement • Aug 18
ASX Limited Announces Ordinary Dividend for the Six Months Ended June 30, 2023, Payable on September 27, 2023 ASX Limited announced ordinary dividend of AUD 1.12100000 per share for the six months ended June 30, 2023, payable on September 27, 2023. Ex-date is September 7, 2023 and record date is September 8, 2023. New Risk • Aug 18
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 139% The company is paying a dividend despite having no free cash flows. Dividend yield: 3.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 139% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (23% net profit margin). Reported Earnings • Aug 17
Full year 2023 earnings released: EPS: AU$1.64 (vs AU$2.63 in FY 2022) Full year 2023 results: EPS: AU$1.64 (down from AU$2.63 in FY 2022). Revenue: AU$1.40b (up 30% from FY 2022). Net income: AU$317.3m (down 38% from FY 2022). Profit margin: 23% (down from 47% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 3.6% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 13% per year and the company’s share price has also fallen by 13% per year. Announcement • May 26
Tradeweb Markets Inc. (NasdaqGS:TW) entered into a definitive agreement to acquire Yieldbroker Pty Limited from ASX Limited (ASX:ASX) for approximately AUD 130 million. Tradeweb Markets Inc. (NasdaqGS:TW) entered into a definitive agreement to acquire Yieldbroker Pty Limited from ASX Limited (ASX:ASX) for approximately AUD 130 million on May 24, 2023. The transaction is subject to customary closing conditions and regulatory reviews. The transaction is expected to close later this year. Announcement • May 25
ASX Limited Names Tim Whiteley as Chief Information Officer Effective July 1, 2023 ASX Limited has appointed Tim Whiteley as chief information officer (CIO), effective July 1, 2023. As CIO, Tim will be responsible for the Group's enterprise technology functions, technology and data security, data governance, technology infrastructure and delivering ASX's multi-year technology modernisation program and capability uplift. Board Change • May 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Luke Anthony Randell was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 02
Upcoming dividend of AU$1.16 per share at 3.5% yield Eligible shareholders must have bought the stock before 09 March 2023. Payment date: 29 March 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.1%). Announcement • Feb 17
ASX Limited Announces Interim Dividend for 2023, Payable on 29 March 2023 ASX Limited announced Interim dividend of 116.2 cents per share for 2023 with Ex-dividend date of 9 March 2023; Record date 10 March 2023 and Payable on 29 March 2023. Reported Earnings • Feb 17
First half 2023 earnings released: EPS: AU$0.38 (vs AU$1.29 in 1H 2022) First half 2023 results: EPS: AU$0.38 (down from AU$1.29 in 1H 2022). Revenue: AU$661.9m (up 25% from 1H 2022). Net income: AU$73.7m (down 71% from 1H 2022). Profit margin: 11% (down from 47% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 3% per year. Announcement • Feb 15
ASX Limited Announces Executive Changes ASX Limited announced that Lucy Barnett has resigned as a Company Secretary of ASX Limited effective 17 February 2023. Johanna O'Rourke continues to act as Company Secretary of ASX Limited and as the person nominated under Listing Rule 12.6 for communication with ASIC in relation to Listing Rule matters. Announcement • Jan 25
ASX Limited Appoints Johanna O'rourke in the Role of Group General Counsel & Company Secretary ASX Limited (ASX) advised that Johanna O'Rourke has been confirmed in the role of Group General Counsel & Company Secretary of ASX Limited. Ms O'Rourke has been acting in the role since October 2022 and has now been appointed to the role in a permanent capacity, effective 25 January 2023. Ms O'Rourke remains the person responsible for communications with the Australian Securities and Investments Commission in relation to listing rule matters. Recent Insider Transactions • Sep 18
Independent Non-Executive Director recently bought €51k worth of stock On the 13th of September, Heather Smith bought around 1k shares on-market at roughly €51.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth €102k. Insiders have collectively bought €153k more in shares than they have sold in the last 12 months. Upcoming Dividend • Sep 01
Upcoming dividend of AU$1.20 per share Eligible shareholders must have bought the stock before 08 September 2022. Payment date: 28 September 2022. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (3.1%). Recent Insider Transactions • Aug 28
Independent Non-Executive Director recently bought €102k worth of stock On the 22nd of August, David Curran bought around 2k shares on-market at roughly €56.56 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €488k more in shares than they bought in the last 12 months. Reported Earnings • Aug 19
Full year 2022 earnings released: EPS: AU$2.63 (vs AU$2.48 in FY 2021) Full year 2022 results: EPS: AU$2.63 (up from AU$2.48 in FY 2021). Revenue: AU$1.08b (up 6.5% from FY 2021). Net income: AU$508.5m (up 5.7% from FY 2021). Profit margin: 47% (in line with FY 2021). Over the next year, revenue is expected to shrink by 1.7% compared to a 3.0% decline forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Feb 24
Upcoming dividend of AU$1.16 per share Eligible shareholders must have bought the stock before 03 March 2022. Payment date: 23 March 2022. Payout ratio is on the higher end at 90%, however this is supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (3.4%). Higher than average of industry peers (2.4%). Reported Earnings • Feb 11
First half 2022 earnings: EPS in line with analyst expectations despite revenue beat First half 2022 results: EPS: AU$1.29 (up from AU$1.25 in 1H 2021). Revenue: AU$527.8m (up 4.1% from 1H 2021). Net income: AU$250.3m (up 3.5% from 1H 2021). Profit margin: 47% (in line with 1H 2021). Revenue exceeded analyst estimates by 1.6%. Over the next year, revenue is forecast to stay flat compared to a 4.9% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 7% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Sep 10
MD, CEO & Executive Director recently sold €589k worth of stock On the 7th of September, Dominic Stevens sold around 11k shares on-market at roughly €53.64 per share. This was the largest sale by an insider in the last 3 months. This was Dominic's only on-market trade for the last 12 months. Upcoming Dividend • Aug 30
Upcoming dividend of AU$1.11 per share Eligible shareholders must have bought the stock before 06 September 2021. Payment date: 29 September 2021. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (3.1%). In line with average of industry peers (2.6%). Reported Earnings • Aug 19
Full year 2021 earnings released: EPS AU$2.48 (vs AU$2.58 in FY 2020) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2021 results: Revenue: AU$1.02b (down 7.1% from FY 2020). Net income: AU$480.9m (down 3.5% from FY 2020). Profit margin: 47% (up from 46% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 6% per year. Executive Departure • Apr 24
Independent Non-Executive Chairman Roderic Holliday-Smith has left the company On the 21st of April, Roderic Holliday-Smith's tenure as Independent Non-Executive Chairman ended after 9.1 years in the role. As of December 2020, Roderic personally held 12.00k shares (€535k worth at the time). A total of 2 executives have left over the last 12 months. Upcoming Dividend • Feb 25
Upcoming Dividend of AU$1.12 Per Share Will be paid on the 24th of March to those who are registered shareholders by the 4th of March. The trailing yield of 3.4% is in the top quartile of German dividend payers (3.4%), and it is higher than industry peers (2.2%). Is New 90 Day High Low • Feb 23
New 90-day low: €43.40 The company is down 8.0% from its price of €47.00 on 24 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €35.36 per share. Recent Insider Transactions • Feb 19
Independent Non-Executive Director recently bought €181k worth of stock On the 16th of February, Damian Roche bought around 4k shares on-market at roughly €45.24 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €280k more in shares than they bought in the last 12 months. Reported Earnings • Feb 12
First half 2021 earnings released: EPS AU$1.25 (vs AU$1.29 in 1H 2020) The company reported a soft first half result with weaker earnings and revenues, although profit margins were improved. First half 2021 results: Revenue: AU$507.1m (down 7.1% from 1H 2020). Net income: AU$241.8m (down 3.4% from 1H 2020). Profit margin: 48% (up from 46% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 8% per year. Is New 90 Day High Low • Feb 02
New 90-day low: €43.60 The company is down 9.0% from its price of €47.80 on 04 November 2020. The German market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €34.09 per share. Is New 90 Day High Low • Jan 16
New 90-day low: €44.20 The company is down 10.0% from its price of €49.20 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €34.91 per share. Is New 90 Day High Low • Dec 12
New 90-day low: €45.80 The company is down 8.0% from its price of €50.00 on 11 September 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €34.46 per share. Is New 90 Day High Low • Nov 26
New 90-day low: €46.80 The company is down 13% from its price of €54.00 on 27 August 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €22.32 per share. Is New 90 Day High Low • Oct 31
New 90-day low: €47.00 The company is down 4.0% from its price of €49.20 on 31 July 2020. The German market is also down 4.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Capital Markets industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €29.74 per share. Is New 90 Day High Low • Sep 30
New 90-day low: €48.20 The company is down 8.0% from its price of €52.50 on 02 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Capital Markets industry, which is also down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €30.31 per share.