Deutsche Börse AG

LSE:0H3T Stock Report

Market Cap: €40.4b

Deutsche Börse Valuation

Is 0H3T undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 0H3T when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0H3T (€219.35) is trading below our estimate of fair value (€222.79)

Significantly Below Fair Value: 0H3T is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0H3T?

Key metric: As 0H3T is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0H3T. This is calculated by dividing 0H3T's market cap by their current earnings.
What is 0H3T's PE Ratio?
PE Ratio21.8x
Earnings€1.85b
Market Cap€40.35b

Price to Earnings Ratio vs Peers

How does 0H3T's PE Ratio compare to its peers?

The above table shows the PE ratio for 0H3T vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average39.5x
LSEG London Stock Exchange Group
87.2x22.1%UK£59.4b
IHP IntegraFin Holdings
24.9x9.5%UK£1.3b
III 3i Group
8.4x17.7%UK£35.4b
AQX Aquis Exchange
37.5x10.6%UK£187.7m
0H3T Deutsche Börse
21.8x5.4%€40.4b

Price-To-Earnings vs Peers: 0H3T is good value based on its Price-To-Earnings Ratio (21.8x) compared to the peer average (39.5x).

Price to Earnings Ratio vs Industry

How does 0H3T's PE Ratio compare vs other companies in the GB Capital Markets Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PNIX Phoenix Digital Assets
1.2xn/aUS$35.28m
IX. i(x) Net Zero
0.1xn/aUS$8.94m
APQ APQ Global
0.4xn/aUS$5.78m
MAFL Mineral & Financial Investments
1.9xn/aUS$4.94m
No more companies available in this PE range
0H3T 21.8xIndustry Avg. 12.4xNo. of Companies18PE01020304050+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0H3T is expensive based on its Price-To-Earnings Ratio (21.8x) compared to the UK Capital Markets industry average (12.4x).

Price to Earnings Ratio vs Fair Ratio

What is 0H3T'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.

0H3T PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.8x
Fair PE Ratio20.9x

Price-To-Earnings vs Fair Ratio: 0H3T is expensive based on its Price-To-Earnings Ratio (21.8x) compared to the estimated Fair Price-To-Earnings Ratio (20.9x).

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 0H3T forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€219.35
€225.29
+2.7%
6.9%€249.00€194.00n/a17
Nov ’25€215.20
€222.24
+3.3%
6.9%€242.00€195.00n/a17
Oct ’25€211.47
€212.94
+0.7%
6.7%€239.00€192.00n/a18
Sep ’25€202.79
€208.56
+2.8%
6.0%€230.00€185.00n/a18
Aug ’25€188.06
€208.50
+10.9%
5.9%€229.00€185.00n/a18
Jul ’25€190.19
€204.83
+7.7%
6.2%€227.00€185.00n/a18
Jun ’25€181.10
€204.56
+13.0%
6.0%€227.00€185.00n/a18
May ’25€181.15
€204.56
+12.9%
6.0%€227.00€185.00n/a18
Apr ’25€189.69
€203.83
+7.5%
6.2%€231.00€185.00n/a18
Mar ’25€193.09
€203.89
+5.6%
6.0%€231.00€185.00n/a19
Feb ’25€185.30
€200.05
+8.0%
7.8%€230.00€170.00n/a19
Jan ’25€185.34
€197.37
+6.5%
7.5%€230.00€170.00n/a19
Dec ’24€175.79
€195.53
+11.2%
7.8%€230.00€170.00n/a19
Nov ’24€156.59
€191.26
+22.1%
8.2%€224.00€168.00€215.2019
Oct ’24€165.52
€193.06
+16.6%
8.2%€233.00€170.00€211.4717
Sep ’24€164.33
€194.18
+18.2%
8.1%€233.00€170.00€202.7917
Aug ’24€171.05
€195.39
+14.2%
7.8%€233.00€170.00€188.0618
Jul ’24€168.62
€194.18
+15.2%
7.3%€215.00€170.00€190.1917
Jun ’24€163.85
€195.24
+19.2%
8.0%€224.00€170.00€181.1017
May ’24€172.85
€194.56
+12.6%
7.5%€221.00€170.00€181.1516
Apr ’24€179.76
€193.50
+7.6%
7.2%€219.00€170.00€189.6918
Mar ’24€166.82
€193.45
+16.0%
7.1%€219.00€170.00€193.0919
Feb ’24€166.32
€192.01
+15.5%
8.1%€219.00€165.00€185.3019
Jan ’24€162.20
€191.01
+17.8%
8.4%€215.00€165.00€185.3419
Dec ’23€176.24
€192.59
+9.3%
8.5%€215.00€165.00€175.7919
Nov ’23€162.55
€192.59
+18.5%
8.5%€215.00€165.00€156.5919

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

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