BME:BME

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Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros

Executive Summary

Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A., together with its subsidiaries, operates stock markets and financial systems in Spain.


Snowflake Analysis

Flawless balance sheet second-rate dividend payer.


Similar Companies

Share Price & News

How has Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BME has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.06%

BME

-0.5%

ES Capital Markets

-1.6%

ES Market


1 Year Return

52.6%

BME

6.2%

ES Capital Markets

-18.6%

ES Market

Return vs Industry: BME exceeded the Spanish Capital Markets industry which returned 7.4% over the past year.

Return vs Market: BME exceeded the Spanish Market which returned -17.9% over the past year.


Shareholder returns

BMEIndustryMarket
7 Day-0.06%-0.5%-1.6%
30 Day2.9%6.5%2.0%
90 Day-0.9%18.9%3.9%
1 Year58.6%52.6%8.6%6.2%-16.1%-18.6%
3 Year19.4%4.0%0.06%-9.0%-20.3%-27.6%
5 Year10.3%-12.8%-14.6%-29.5%-18.0%-31.3%

Price Volatility Vs. Market

How volatile is Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros undervalued compared to its fair value and its price relative to the market?

21.8x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BME (€32.94) is trading above our estimate of fair value (€22.45)

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


Price To Earnings Ratio

PE vs Industry: BME is poor value based on its PE Ratio (21.8x) compared to the Capital Markets industry average (17.4x).

PE vs Market: BME is poor value based on its PE Ratio (21.8x) compared to the Spanish market (15.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BME's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BME is overvalued based on its PB Ratio (6.6x) compared to the XE Capital Markets industry average (1.5x).


Next Steps

Future Growth

How is Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-2.1%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if BME's forecast earnings growth is above the savings rate (1.3%).

Earnings vs Market: Insufficient data to determine if BME's earnings are forecast to grow faster than the Spanish market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BME's revenue is expected to decline over the next 3 years (-2.1% per year).

High Growth Revenue: BME's revenue is forecast to decline over the next 3 years (-2.1% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if BME's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros performed over the past 5 years?

-7.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BME has high quality earnings.

Growing Profit Margin: BME's current net profit margins (41.2%) are lower than last year (42.8%).


Past Earnings Growth Analysis

Earnings Trend: BME's earnings have declined by -7.4% per year over the past 5 years.

Accelerating Growth: BME's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BME had negative earnings growth (-3.7%) over the past year, making it difficult to compare to the Capital Markets industry average (19%).


Return on Equity

High ROE: BME's Return on Equity (30%) is considered high.


Next Steps

Financial Health

How is Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's financial position?


Financial Position Analysis

Short Term Liabilities: BME's short term assets (€11.4B) exceed its short term liabilities (€11.2B).

Long Term Liabilities: BME's short term assets (€11.4B) exceed its long term liabilities (€60.2M).


Debt to Equity History and Analysis

Debt Level: BME is debt free.

Reducing Debt: BME has not had any debt for past 5 years.

Debt Coverage: BME has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: BME has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's current dividend yield, its reliability and sustainability?

4.31%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BME's dividend (4.31%) is higher than the bottom 25% of dividend payers in the Spanish market (2.55%).

High Dividend: BME's dividend (4.31%) is low compared to the top 25% of dividend payers in the Spanish market (7.37%).


Stability and Growth of Payments

Stable Dividend: BME's dividend payments have been volatile in the past 10 years.

Growing Dividend: BME's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (94%), BME's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BME's dividends in 3 years are forecast to be covered by earnings (87.4% payout ratio).


Next Steps

Management

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

2.5yrs

Average management tenure


CEO

Javier Hernani Burzako

3.25yrs

Tenure

€752,000

Compensation

Mr. Javier Hernani Burzako has been Chief Executive Officer and Director at Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, SA since April 27, 2017. He served as the Chie ...


CEO Compensation Analysis

Compensation vs Market: Javier's total compensation ($USD851.06K) is about average for companies of similar size in the Spanish market ($USD1.21M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Antonio Jose Zoido Martínez
Non-Executive Chairmanno data€818.00kno data
Javier Hernani Burzako
CEO & Director3.25yrs€752.00kno data
Joan Hortalá I Arau
Executive Director18.42yrs€413.00kno data
Marta Bartolomé Yllera
Finance Director & CFO3.17yrsno datano data
Francisco Béjar
Chief Operating Officer2.5yrsno datano data
Francisco Nicolás Tahoces
Head Technology Directorno datano datano data
Brian Warren
Head of Investor Relationsno datano datano data
Ignacio Olivares Blanco
Head of Legal Affairs & Director of Legal Services1.17yrsno datano data
Pablo Malumbres Muguerza
Head of Corporate Communications & Public Affairsno datano datano data
Jorge Yzaguirre Scharfhausen
Head of Markets & Market Datano datano datano data

2.5yrs

Average Tenure

Experienced Management: BME's management team is considered experienced (2.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Antonio Jose Zoido Martínez
Non-Executive Chairmanno data€818.00kno data
Javier Hernani Burzako
CEO & Director3.25yrs€752.00kno data
Joan Hortalá I Arau
Executive Director18.42yrs€413.00kno data
Juan Carlos Ureta Domingo
Independent Director2.25yrs€84.00kno data
Juan March Juan
External Proprietary Director5.75yrs€87.00kno data
Maria Helena dos Santos Fernandes de Santana
External Independent Director4.25yrs€63.00kno data
Johannes Dijsselhof
Director0.083yrno datano data
Ana Isabel Fernández Álvarez
Independent Director2.25yrs€91.00kno data
David María Jiménez-Blanco de Albornoz
Lead independent Director2.17yrs€111.00kno data
Isabel Martín Castella
Independent Director2.25yrs€76.00kno data

2.3yrs

Average Tenure

61yo

Average Age

Experienced Board: BME's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


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

Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A.
  • Ticker: BME
  • Exchange: BME
  • Founded: 2002
  • Industry: Financial Exchanges and Data
  • Sector: Diversified Financials
  • Market Cap: €2.729b
  • Shares outstanding: 82.85m
  • Website: https://www.bolsasymercados.es

Number of Employees


Location

  • Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A.
  • Palacio de la Bolsa
  • Plaza de la Lealtad, 1
  • Madrid
  • Madrid
  • 28014
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BMEBME (Bolsas y Mercados Espanoles)YesCommon StockESEURJul 2006
M6ODB (Deutsche Boerse AG)YesCommon StockDEEURJul 2006
0N73LSE (London Stock Exchange)YesCommon StockGBEURJul 2006
SOHM.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJul 2006
BMEEBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURJul 2006
BME NBMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNJul 2006
BOLY.YOTCPK (Pink Sheets LLC)ADRUSUSDFeb 2009

Biography

Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A., together with its subsidiaries, operates stock markets and financial systems in Spain. The company operates in six segments: Equities, Fixed Income, Derivatives, Clearing, Settlement and Registration, and Market Data and Value-Added Services. The Equities segment is involved in trading securities through the electronic trading platform; and the provision of listing and maintenance services for issuers on the equity market. The Fixed Income segment engages in trading private fixed-income and public debt securities; and the provision of listing and maintenance services for issuers on the private fixed-income market. The Derivatives segment is involved in trading financial and electricity derivatives. The Clearing segment is involved in the clearing, central counterparty, and settlement of equity securities, financial derivatives, government debt repos, over the counter interest rate derivatives, and electricity and gas derivatives, as well as derivatives on equity spot trades from the Spanish electronic trading platform. The Settlement and Registration segment engages in the registration and settlement of equity, private fixed-income, and government debt trades. The Market Data and Value-Added Services segment provides primary information services; index licenses and other related services; access and connectivity, and regulatory compliance services; and technological innovation, financial, consultancy and infrastructure, global access, and algorithmic trading services. Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A. was incorporated in 2002 and is headquartered in Madrid, Spain. As of June 11, 2020, Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A. operates as a subsidiary of SIX Group AG. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/08 20:56
End of Day Share Price2020/07/08 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.