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Euronext

ENXTPA:ENX
Snowflake Description

Adequate balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ENX
ENXTPA
€4B
Market Cap
  1. Home
  2. FR
  3. Diversified Financials
Company description

Euronext N.V., together with its subsidiaries, operates securities and derivatives exchanges in Continental Europe. The last earnings update was 1 day ago. More info.


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ENX Share Price and Events
7 Day Returns
2.1%
ENXTPA:ENX
-1.5%
FR Capital Markets
1.5%
FR Market
1 Year Returns
0%
ENXTPA:ENX
-31.1%
FR Capital Markets
-1.9%
FR Market
ENX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Euronext (ENX) 2.1% 0.9% -0.1% 0% 53.9% -
FR Capital Markets -1.5% -0.7% -11.1% -31.1% 2.9% -5.9%
FR Market 1.5% 6.1% 1.3% -1.9% 25.3% 24.7%
1 Year Return vs Industry and Market
  • ENX outperformed the Capital Markets industry which returned -31.1% over the past year.
  • ENX outperformed the Market in France which returned -1.9% over the past year.
Price Volatility
ENX
Industry
5yr Volatility vs Market

Value

 Is Euronext undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Euronext to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Euronext.

ENXTPA:ENX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 10 analysts.
= Stable Book Value * Return on Equity
= €15.09 * 26.4%
€3.99
Book Value of Equity per Share Weighted future Book Value estimates from 9 analysts. €15.09
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year FR Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTPA:ENX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 9.3%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.572 (1 + (1- 25%) (13.66%))
0.63
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (0.8 * 9.27%)
8.15%

Discounted Cash Flow Calculation for ENXTPA:ENX using Excess Returns Model Model

The calculations below outline how an intrinsic value for Euronext is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

ENXTPA:ENX Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (26.4% – 8.15%) * €15.09)
€2.76
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €2.76 / (8.15% - 0.73%)
€37.20
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €15.09 + €37.20
€52.29
ENXTPA:ENX Discount to Share Price
Calculation Result
Value per share (EUR) From above. €52.29
Current discount Discount to share price of €53.60
= -1 x (€53.60 - €52.29) / €52.29
-2.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Euronext is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Euronext's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Euronext's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:ENX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €3.10
ENXTPA:ENX Share Price ** ENXTPA (2019-02-15) in EUR €53.6
France Capital Markets Industry PE Ratio Median Figure of 9 Publicly-Listed Capital Markets Companies 11.68x
France Market PE Ratio Median Figure of 416 Publicly-Listed Companies 15.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Euronext.

ENXTPA:ENX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:ENX Share Price ÷ EPS (both in EUR)

= 53.6 ÷ 3.10

17.29x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Euronext is overvalued based on earnings compared to the FR Capital Markets industry average.
  • Euronext is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does Euronext's expected growth come at a high price?
Raw Data
ENXTPA:ENX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.29x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
9.6%per year
France Capital Markets Industry PEG Ratio Median Figure of 6 Publicly-Listed Capital Markets Companies 0.45x
France Market PEG Ratio Median Figure of 276 Publicly-Listed Companies 1.32x

*Line of best fit is calculated by linear regression .

ENXTPA:ENX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.29x ÷ 9.6%

1.8x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Euronext is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Euronext's assets?
Raw Data
ENXTPA:ENX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €11.32
ENXTPA:ENX Share Price * ENXTPA (2019-02-15) in EUR €53.6
France Capital Markets Industry PB Ratio Median Figure of 11 Publicly-Listed Capital Markets Companies 1.25x
France Market PB Ratio Median Figure of 617 Publicly-Listed Companies 1.48x
ENXTPA:ENX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:ENX Share Price ÷ Book Value per Share (both in EUR)

= 53.6 ÷ 11.32

4.73x

* Primary Listing of Euronext.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Euronext is overvalued based on assets compared to the FR Capital Markets industry average.
X
Value checks
We assess Euronext's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Euronext has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Euronext expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Euronext expected to grow at an attractive rate?
  • Euronext's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Euronext's earnings growth is positive but not above the France market average.
  • Euronext's revenue growth is positive but not above the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:ENX Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:ENX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 9.6%
ENXTPA:ENX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 4.4%
France Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 4.4%
France Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
France Market Earnings Growth Rate Market Cap Weighted Average 11.6%
France Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTPA:ENX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:ENX Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 711 288 3
2020-12-31 667 295 267 12
2019-12-31 640 268 247 12
ENXTPA:ENX Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 615 224 216
2018-09-30 595 226 270
2018-06-30 572 213 257
2018-03-31 552 231 255
2017-12-31 532 213 241
2017-09-30 569 194 198
2017-06-30 502 186 198
2017-03-31 497 184 193
2016-12-31 496 181 197
2016-09-30 497 155 184
2016-06-30 517 158 193
2016-03-31 515 143 173

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Euronext's earnings are expected to grow by 9.6% yearly, however this is not considered high growth (20% yearly).
  • Euronext's revenue is expected to grow by 4.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTPA:ENX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Euronext Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:ENX Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 4.24 4.44 4.05 3.00
2020-12-31 3.84 4.34 3.59 9.00
2019-12-31 3.56 3.77 3.41 8.00
ENXTPA:ENX Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 3.10
2018-09-30 3.87
2018-06-30 3.70
2018-03-31 3.66
2017-12-31 3.47
2017-09-30 2.84
2017-06-30 2.84
2017-03-31 2.77
2016-12-31 2.83
2016-09-30 2.64
2016-06-30 2.77
2016-03-31 2.47

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Euronext is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Euronext's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the France market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Euronext has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Euronext performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Euronext's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Euronext has delivered over 20% year on year earnings growth in the past 5 years.
  • Euronext's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Euronext's 1-year earnings growth is negative, it can't be compared to the FR Capital Markets industry average.
Earnings and Revenue History
Euronext's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Euronext Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:ENX Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 615.00 216.00 231.90
2018-09-30 594.60 269.63 113.64
2018-06-30 572.40 257.43 109.24
2018-03-31 552.39 254.70 107.06
2017-12-31 532.29 241.30 104.36
2017-09-30 568.95 197.70 152.12
2017-06-30 501.55 197.50 99.72
2017-03-31 496.64 192.81 101.28
2016-12-31 496.44 197.01 99.78
2016-09-30 496.97 183.62 99.32
2016-06-30 517.15 193.25 103.22
2016-03-31 514.99 172.60 110.09
2015-12-31 518.55 172.65 112.22
2015-09-30 523.98 156.83 115.78
2015-06-30 513.62 158.66 119.18
2015-03-31 508.98 158.59 121.26
2014-12-31 492.50 118.17 123.99
2014-09-30 494.17 64.45 130.03
2014-06-30 481.29 38.15 127.39
2014-03-31 475.17 70.50 127.39
2013-12-31 481.67 87.52 132.72
2012-12-31 495.11 113.20 125.68

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Euronext has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Euronext used its assets more efficiently than the FR Capital Markets industry average last year based on Return on Assets.
  • Euronext's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Euronext's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Euronext has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Euronext's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Euronext's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Euronext is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Euronext's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Euronext's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Euronext Company Filings, last reported 1 month ago.

ENXTPA:ENX Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 802.30 508.60 412.20
2018-09-30 725.80 503.40 423.40
2018-06-30 720.53 501.79 360.27
2018-03-31 785.00 338.00 301.50
2017-12-31 729.48 164.89 187.79
2017-09-30 615.80 164.90 140.60
2017-06-30 576.15 0.15 81.16
2017-03-31 585.80 0.20 141.20
2016-12-31 548.02 69.10 174.50
2016-09-30 480.85 68.89 156.72
2016-06-30 444.31 108.68 152.83
2016-03-31 485.34 108.47 202.76
2015-12-31 447.17 108.26 158.64
2015-09-30 401.85 108.05 159.95
2015-06-30 370.26 107.85 128.38
2015-03-31 395.45 107.61 167.01
2014-12-31 341.75 248.50 256.64
2014-09-30 310.48 248.32 253.02
2014-06-30 262.22 248.19 196.53
2014-03-31 352.35 0.26 61.50
2013-12-31 233.68 447.03 80.83
2012-12-31 115.40 500.98 13.56
  • Euronext's level of debt (63.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (188.1% vs 63.4% today).
  • Debt is well covered by operating cash flow (43.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 62.4x coverage).
X
Financial health checks
We assess Euronext's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Euronext has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Euronext's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.23%
Current annual income from Euronext dividends. Estimated to be 3.48% next year.
If you bought €2,000 of Euronext shares you are expected to receive €65 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Euronext's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.7%).
  • Euronext's dividend is below the markets top 25% of dividend payers in France (4.4%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTPA:ENX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
France Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 5.7%
France Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.1%
France Minimum Threshold Dividend Yield 10th Percentile 1%
France Bottom 25% Dividend Yield 25th Percentile 1.7%
France Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTPA:ENX Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.12 3.00
2020-12-31 1.88 12.00
2019-12-31 1.76 9.00
ENXTPA:ENX Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-03-14 1.730 3.167
2017-04-07 1.420 2.852
2017-02-15 1.420 3.466
2016-04-11 1.240 3.305
2015-03-25 0.840 2.106

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Euronext has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Euronext only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Euronext's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Euronext's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Euronext afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Euronext has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Euronext's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Stéphane Boujnah
COMPENSATION €1,883,000
AGE 54
TENURE AS CEO 3.3 years
CEO Bio

Mr. Stéphane Boujnah has been the Chairman of Managing Board and Chief Executive Officer of Euronext N.V. since November 04, 2015. Mr. Boujnah serves as Non-Executive Chairman of Irish Stock Exchange Plc. Mr. Boujnah served as the Chief Executive Officer of Santander Global Banking and Markets for France and Benelux from May 2010 to 2014. He has been Head of Continental Europe of Santander Global Banking and Markets since July 2014. From 2000 to 2002, Mr. Boujnah served as Director of Mergers and Acquisitions at Crédit Suisse First Boston Technology Group in Palo Alto and later in London. From 2003 to 2005, he founded and developed KM5 Capital; an advisory company specialized in equity raising and M&A advice for venture capital funds and innovative technology companies. He served as Managing Director of KM5 Capital. He served as Managing Director in charge of business development for the Deutsche Bank’s investment bank in Paris from 2005 to 2010. He was employed at Deutsche Bank AG, Research Division. From 1991 to 1997, he was an attorney at Freshfields, specialized in mergers and acquisitions and in international investment projects. From 2000 to 2002, he was director of the European M&A team of Credit Suisse First Boston Technology Group in Palo Alto and London. From 1997 to 1999, Mr. Boujnah was senior adviser to the French Minister for Economy, Finance and Industry, Dominique Strauss-Kahn. He was in charge of innovation, new technologies, venture capital, foreign investments and on all matters related to State-controlled technology and telecom companies. He is founder and President of the board of directors of the French think tank En Temps Réel, www.entempsreel.com, where he published “L’inoxydable modèle suédois” in 2003. He serves as President of the board of directors of Accentus and Insula Orchestra. He serves as Board Member of the retail company Groupe FNAC. From 1991 to 1997, he was a Business Lawyer specialized in M&A transactions and structured financing in the international firm Freshfields. He advised in numerous technology deals and in several privatization programs in Eastern Europe, especially in the Czech Republic and in Slovakia, as well in various European investment projects in Cuba. He served as Chairman of Deutsch Securities Algeria. He served as a Director at LCH. Clearnet Group Ltd. since December 03, 2015 until October 31, 2017. Mr. Boujnah served as Independent Director at Groupe Fnac Société Anonyme. He was a member of the Commission pour la Liberation de la Croissance Française, chaired by Jacques Attali and established by the President Nicolas Sarkozy in 2007 and renewed in 2009. He was made knight of first class in the Royal Order of the Polar Star by the King of Sweden in March 2010. He was made Chevalier de la Légion d’Honneur by President François Hollande on 14 July 2013. Mr. Boujnah graduated from the Institut d'Etudes Politiques de Paris. He holds a Master degree in Business Law and a Diplôme d’Etudes Approfondies in International Economic Law of La Sorbonne Paris, LLM in International Business Law from the University of Kent in Canterbury and MBA from Insead.

CEO Compensation
  • Stéphane's compensation has been consistent with company performance over the past year.
  • Stéphane's remuneration is about average for companies of similar size in France.
Management Team Tenure

Average tenure and age of the Euronext management team in years:

2.2
Average Tenure
50
Average Age
  • The tenure for the Euronext management team is about average.
Management Team

Stéphane Boujnah

TITLE
Chairman of the Managing Board & CEO
COMPENSATION
€2M
AGE
54
TENURE
3.3 yrs

Anthony Attia

TITLE
Global Head of Listing
COMPENSATION
€879K
AGE
44
TENURE
4.9 yrs

Vincent Van Dessel

TITLE
Member of Managing Board & CEO of Euronext Brussels
COMPENSATION
€599K
AGE
59
TENURE
4.9 yrs

Maurice Van Tilburg

TITLE
Head of Market Ops. & Client Centricity
COMPENSATION
€604K
AGE
46
TENURE
3.8 yrs

Giorgio Modica

TITLE
Chief Financial Officer
TENURE
2.8 yrs

Isabel Ucha

TITLE
Member of Managing Board and CEO of Euronext Lisbon & Interbolsa
TENURE
0.1 yrs

Chris Topple

TITLE
CEO of Euronext London
AGE
50
TENURE
0.3 yrs

Daryl Byrne

TITLE
Member of the Managing Board
TENURE
0.3 yrs

Alain Courbebaisse

TITLE
Chief Information & Technology Officer
TENURE
1.7 yrs

Aurélie Cohen

TITLE
Head of Investor Relations
TENURE
1.4 yrs
Board of Directors Tenure

Average tenure and age of the Euronext board of directors in years:

2.6
Average Tenure
61
Average Age
  • The average tenure for the Euronext board of directors is less than 3 years, this suggests a new board.
Board of Directors

Dick Sluimers

TITLE
Chairman of the Supervisory Board
AGE
65
TENURE
0.8 yrs

Lieve Mostrey

TITLE
Non-Independent Member of Supervisory Board
AGE
57
TENURE
4.2 yrs

Jim Gollan

TITLE
Independent Member of Supervisory Board
AGE
62
TENURE
3.6 yrs

Manuel da Silva

TITLE
Independent Member of Supervisory Board
AGE
61
TENURE
6.2 yrs

Ramon Fernandez

TITLE
Independent Member of Supervisory Board
AGE
51
TENURE
3.6 yrs

Kerstin Günther

TITLE
Independent Member of Supervisory Board
AGE
51
TENURE
2.6 yrs

Franck Silvent

TITLE
Supervisory Board Member
AGE
46
TENURE
1.3 yrs

Luc Keuleneer

TITLE
Member of the Supervisory Board
AGE
69
TENURE
0.7 yrs

Padraic O’Connor

TITLE
Member of the Supervisory Board
AGE
69
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Euronext's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Euronext has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Euronext N.V. (EPA:ENX): Earnings Expected To Remain Subdued

Help shape the future of investing tools and you could win a $250 gift card! … Based on Euronext N.V.'s (EPA:ENX) earnings update in September 2018, … with earnings expected to decline by -9.5% in the upcoming year

Simply Wall St -

Does Euronext N.V.'s (EPA:ENX) CEO Pay Reflect Performance?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … The aim of all this is to consider the appropriateness of CEO pay levels. … How Does Stéphane Boujnah's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Should You Buy Euronext N.V. (EPA:ENX) When Prices Drop?

The risk of investing in the stock market is a systematic crash. … This is when all the stock prices start falling around the same time. … This is the best time to buy stocks like Euronext N.V.

Simply Wall St -

Is Euronext N.V.'s (EPA:ENX) High P/E Ratio A Problem For Investors?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at Euronext N.V.'s (EPA:ENX) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

What To Know Before Buying Euronext NV (EPA:ENX) For Its Dividend

Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. … Euronext NV (EPA:ENX) has paid a dividend to shareholders in the last few years. … View our latest analysis for Euronext

Simply Wall St -

Can We See Significant Institutional Ownership On The Euronext NV (EPA:ENX) Share Register?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Companies that used to be publicly owned tend to have lower insider ownership. … Euronext is a pretty big company.

Simply Wall St -

Euronext NV (EPA:ENX) Investors Are Paying Above The Intrinsic Value

Capital market firms such as ENX are hard to value. … This is because the rules they face are different to other companies, which can impact the way we forecast their cash flow. … Asset managers, for example, must hold certain levels of capital in order to maintain a safe cash cushion.

Simply Wall St -

Why Euronext NV (EPA:ENX) Could Be Worth Watching

saw significant share price volatility over the past couple of months on the ENXTPA, rising to the highs of €58.1 and falling to the lows of €52.05. … A question to answer is whether Euronext's current trading price of €54.45 reflective of the actual value of the? … Let’s take a look at Euronext’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Does The Data Make Euronext NV (EPA:ENX) An Attractive Investment?

Euronext NV (EPA:ENX) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … is a company with great financial health as well as a.

Simply Wall St -

Does Euronext NV's (EPA:ENX) PE Ratio Warrant A Sell?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … Although some investors may jump to the conclusion that you should avoid the stock or sell if you own it, understanding the assumptions behind the P/E ratio might change your mind.

Simply Wall St -

Company Info

Map
Description

Euronext N.V., together with its subsidiaries, operates securities and derivatives exchanges in Continental Europe. The company offers a range of exchange and corporate services, including security listings, cash and derivatives trading, and market data dissemination. It also provides listing venues; and cash trading services, which include the provision of various marketplaces for investors, broker-dealers, and other market participants to directly buy and sell cash equities, fixed income securities, and exchange traded products. In addition, the company is involved in the derivatives and foreign exchange trading businesses. Further, it offers options contracts based on all of the blue-chip equities listed on Euronext; and post-trade services. The company's market data and indices business distributes and sells real-time, historic, and reference data to data vendors, as well as to financial institutions and individual investors. Its market solutions and other business offer technology solutions and services to exchanges and venue operators, as well as connection services and data center co-location services to market participants. The company was formerly known as Euronext Group N.V. and changed its name to Euronext N.V. in May 2014. Euronext N.V. was founded in 2000 and is headquartered in Amsterdam, the Netherlands.

Details
Name: Euronext N.V.
ENX
Exchange: ENXTPA
Founded: 2000
€3,724,218,048
69,481,680
Website: http://www.euronext.com
Address: Euronext N.V.
Beursplein 5,
Amsterdam,
Noord-Holland, 1012 JW,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA ENX Ordinary Shares Euronext Paris FR EUR 20. Jun 2014
OTCPK EUXT.F Ordinary Shares Pink Sheets LLC US USD 20. Jun 2014
DB ENXB Ordinary Shares Deutsche Boerse AG DE EUR 20. Jun 2014
LSE 0QVJ Ordinary Shares London Stock Exchange GB EUR 20. Jun 2014
BATS-CHIXE ENXP Ordinary Shares BATS 'Chi-X Europe' GB EUR 20. Jun 2014
Number of employees
Current staff
Staff numbers
738
Euronext employees.
Industry
Financial Exchanges and Data
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/15 22:54
End of day share price update: 2019/02/15 00:00
Last estimates confirmation: 2019/02/15
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.