HUB24 Limited

DB:FSB Stock Report

Market Cap: €4.8b

HUB24 Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • 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 FSB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

€23.62
Fair Value
137.1% overvalued intrinsic discount
16
Number of Analysts

Below Fair Value: FSB (€56) is trading above our estimate of fair value (€23.62)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for FSB. This is calculated by dividing FSB's market cap by their current earnings.
What is FSB's PE Ratio?
PE Ratio106.9x
EarningsAU$79.49m
Market CapAU$8.50b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for FSB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average43.7x
FTK flatexDEGIRO
23x15.63%€3.4b
T2G Tradegate Wertpapierhandelsbank
53.6xn/a€2.1b
BFV Berliner Effektengesellschaft
43xn/a€925.6m
JDC JDC Group
55.2x31.39%€386.7m
FSB HUB24
106.9x19.53%€8.5b

Price-To-Earnings vs Peers: FSB is expensive based on its Price-To-Earnings Ratio (106.9x) compared to the peer average (43.7x).

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BBHK Deutsche Balaton
2.4xn/aUS$269.41m
SPT6 Sparta
1.5xn/aUS$115.32m
ECS0 Eight Capital Partners
1.2xn/aUS$32.14m
No more companies available in this PE range
FSB 106.9xIndustry Avg. 15.2xNo. of Companies7PE01224364860+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FSB is expensive based on its Price-To-Earnings Ratio (106.9x) compared to the German Capital Markets industry average (15.2x).

Price to Earnings Ratio vs Fair Ratio

What is FSB'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.

FSB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio106.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate FSB's Price-To-Earnings Fair Ratio for valuation analysis.

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 FSB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€56.00
€60.59
+8.19%
22.24%€75.48€25.16n/a16
Nov ’26€62.50
€60.59
-3.06%
22.24%€75.48€25.16n/a16
Oct ’26n/a
€57.10
0%
21.76%€71.03€23.68n/a17
Sep ’26n/a
€55.19
0%
21.87%€69.16€23.24n/a16
Aug ’26n/a
€48.57
0%
26.24%€64.13€22.31n/a16
Jul ’26n/a
€38.67
0%
22.49%€47.38€17.68n/a15
Jun ’26n/a
€38.77
0%
22.08%€48.21€17.58n/a16
May ’26n/a
€37.90
0%
21.67%€47.54€17.34n/a16
Apr ’26n/a
€45.27
0%
23.92%€56.63€18.27n/a17
Mar ’26n/a
€45.27
0%
23.92%€56.63€18.27n/a17
Feb ’26n/a
€39.87
0%
21.36%€48.14€17.45n/a17
Jan ’26n/a
€37.04
0%
22.57%€46.55€17.88n/a17
Dec ’25n/a
€37.04
0%
22.57%€46.55€17.88n/a17
Nov ’25n/a
€35.43
0%
21.32%€45.18€17.85€62.5017
Oct ’25n/a
€30.11
0%
18.60%€38.34€16.70n/a16
Sep ’25n/a
€28.34
0%
18.78%€35.67€16.32n/a17
Aug ’25n/a
€26.19
0%
17.13%€32.19€15.73n/a17
Jul ’25n/a
€25.24
0%
15.00%€32.98€16.12n/a17
Jun ’25n/a
€24.15
0%
13.21%€27.37€15.92n/a15
May ’25n/a
€23.66
0%
13.14%€26.96€15.68n/a15
Apr ’25n/a
€22.96
0%
14.05%€26.68€15.16n/a15
Mar ’25n/a
€22.96
0%
14.05%€26.68€15.16n/a15
Feb ’25n/a
€21.69
0%
12.98%€25.50€14.81n/a14
Jan ’25n/a
€20.41
0%
11.14%€22.87€15.05n/a13
Dec ’24n/a
€19.64
0%
11.25%€22.39€14.73n/a13
Nov ’24n/a
€19.36
0%
10.85%€22.22€14.71n/a13
€58.09
Fair Value
3.6% undervalued intrinsic discount
16
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/14 02:13
End of Day Share Price 2025/11/14 00:00
Earnings2025/06/30
Annual Earnings2025/06/30

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

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

HUB24 Limited is covered by 23 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nicholas McGarrigleBarrenjoey Markets Pty Limited
Hayden NicholsonBell Potter
Lara TufegdzicBofA Global Research