OTCPK:HEXE.Y

Stock Analysis Report

Hellenic Exchanges - Athens Stock Exchange

Executive Summary

Hellenic Exchanges - Athens Stock Exchange SA provides support services for the operation of Greek capital market.


Snowflake Analysis

Proven track record with reasonable growth potential.

Share Price & News

How has Hellenic Exchanges - Athens Stock Exchange's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

HEXE.Y

-8.6%

US Capital Markets

-10.6%

US Market


1 Year Return

n/a

HEXE.Y

4.9%

US Capital Markets

5.2%

US Market

Return vs Industry: Insufficient data to determine how HEXE.Y performed against the US Capital Markets industry.

Return vs Market: Insufficient data to determine how HEXE.Y performed against the US Market.


Shareholder returns

HEXE.YIndustryMarket
7 Day0%-8.6%-10.6%
30 Day0%-7.9%-8.5%
90 Dayn/a-4.4%-4.6%
1 Yearn/a7.1%4.9%7.4%5.2%
3 Year38.1%18.4%25.5%18.4%31.7%23.2%
5 Year-11.7%-31.8%65.9%50.7%56.4%39.3%

Price Volatility Vs. Market

How volatile is Hellenic Exchanges - Athens Stock Exchange's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Hellenic Exchanges - Athens Stock Exchange undervalued compared to its fair value and its price relative to the market?

35.19x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: HEXE.Y ($9.77) is trading above our estimate of fair value ($3.1)

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


Price To Earnings Ratio

PE vs Industry: HEXE.Y is poor value based on its PE Ratio (38.8x) compared to the Capital Markets industry average (31.8x).

PE vs Market: HEXE.Y is poor value based on its PE Ratio (38.8x) compared to the US market (17.1x).


Price to Earnings Growth Ratio

PEG Ratio: HEXE.Y is poor value based on its PEG Ratio (1.5x)


Price to Book Ratio

PB vs Industry: HEXE.Y is good value based on its PB Ratio (2.4x) compared to the US Capital Markets industry average (6.6x).


Next Steps

Future Growth

How is Hellenic Exchanges - Athens Stock Exchange forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

25.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HEXE.Y's forecast earnings growth (25.4% per year) is above the savings rate (1.7%).

Earnings vs Market: HEXE.Y's earnings (25.4% per year) are forecast to grow faster than the US market (13.2% per year).

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

Revenue vs Market: HEXE.Y's revenue (11.2% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: HEXE.Y's revenue (11.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HEXE.Y's Return on Equity is forecast to be low in 3 years time (12.2%).


Next Steps

Past Performance

How has Hellenic Exchanges - Athens Stock Exchange performed over the past 5 years?

-40.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HEXE.Y has high quality earnings.

Growing Profit Margin: HEXE.Y's current net profit margins (22.1%) are higher than last year (12.6%).


Past Earnings Growth Analysis

Earnings Trend: HEXE.Y's earnings have declined by -40.7% per year over the past 5 years.

Accelerating Growth: HEXE.Y's earnings growth over the past year (108.2%) exceeds its 5-year average (-40.7% per year).

Earnings vs Industry: HEXE.Y earnings growth over the past year (108.2%) exceeded the Capital Markets industry 8.4%.


Return on Equity

High ROE: HEXE.Y's Return on Equity (6.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Hellenic Exchanges - Athens Stock Exchange's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: HEXE.Y has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if HEXE.Y's debt is covered by short term assets.


Financial Institutions Analysis

Asset Level: HEXE.Y's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if HEXE.Y has a sufficient allowance for bad loans.

Low Risk Liabilities: HEXE.Y reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if HEXE.Y has an acceptable proportion of non-loan assets held.

Low Risk Deposits: HEXE.Y has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if HEXE.Y has an appropriate level of bad loans.


Next Steps

Dividend

What is Hellenic Exchanges - Athens Stock Exchange's current dividend yield, its reliability and sustainability?

4.14%

Current Dividend Yield


Dividend Yield vs Market

company4.1%marketbottom25%1.6%markettop25%4.1%industryaverage2.1%forecastin3Years3.2%

Current dividend yield vs market & industry

Notable Dividend: HEXE.Y's dividend (3.75%) is higher than the bottom 25% of dividend payers in the US market (1.53%).

High Dividend: HEXE.Y's dividend (3.75%) is low compared to the top 25% of dividend payers in the US market (3.96%).


Stability and Growth of Payments

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

Growing Dividend: HEXE.Y's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (45.5%), HEXE.Y's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: HEXE.Y's dividends in 3 years are forecast to be covered by earnings (79.4% payout ratio).


Next Steps

Management

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

9.2yrs

Average management tenure


CEO

Jakob Lazaridis (57yo)

9.3yrs

Tenure

€247,484

Compensation

Mr. Sokrates George Lazaridis, also known as Jakob, has been Managing Director and Executive Director of Hellenic Exchanges - Athens Stock Exchange SA since June 2019. Mr. Lazaridis had been the Chief Exec ...


Leadership Team

NamePositionTenureCompensationOwnership
Socrates Lazaridis
MD & Executive Director9.3yrs€247.48kno data
Vassilios Govaris
Chief Financial Officer8.8yrsno datano data
Dimitris Karaiskakis
Chief Operating Officer0yrsno datano data
Charalambos Antonatos
Deputy Director of Financial Controlling0yrsno datano data
Apostolos Patrikios
Director of Legal Affairs0yrsno datano data
Andreas Daskalakis
Director of Market Operation and Member Support 0yrsno datano data
Nikolaos Porfyris
Chief Business Development Officer9.1yrsno datano data
Maria Saxoni
Secretary0yrsno datano data
Pantelis Lamprou
Director of Strategic Communication & Markets Analysis12.1yrsno datano data
Nikolaos Konstantopoulos
GM & Management Consultant0yrs€181.69kno data

9.2yrs

Average Tenure

Experienced Management: HEXE.Y's management team is seasoned and experienced (9.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Socrates Lazaridis
MD & Executive Director9.3yrs€247.48kno data
Ioannis Kyriakopoulos
Non-Executive Director4yrsno datano data
Adamantini Lazari
Independent Non-Executive Director0yrsno datano data
Alexios Pilavios
Vice Chairman0.7yrsno datano data
George Handjinicolaou
Non Executive Chairman2.2yrsno datano data
Nikolaos Chryssochoidis
Non Executive Director12.8yrsno datano data
Alexandros Antonopoulos
Independent Non-Executive Director0yrsno datano data
Sofia Kounenaki – Efraimoglou
Independent Non-Executive Director0yrsno datano data
Ioannis Emiris
Non Executive Director7.1yrsno datano data
Konstantinos Vassiliou
Non-Executive Director5yrsno datano data

4.5yrs

Average Tenure

59yo

Average Age

Experienced Board: HEXE.Y's board of directors are considered experienced (4.5 years average tenure).


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

Hellenic Exchanges - Athens Stock Exchange SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Hellenic Exchanges - Athens Stock Exchange SA
  • Ticker: HEXE.Y
  • Exchange: OTCPK
  • Founded: 1876
  • Industry: Financial Exchanges and Data
  • Sector: Diversified Financials
  • Market Cap: €233.245m
  • Listing Market Cap: €256.004m
  • Shares outstanding: 60.35m
  • Website: https://www.helex.gr

Number of Employees


Location

  • Hellenic Exchanges - Athens Stock Exchange SA
  • 110 Athinon Avenue
  • Athens
  • 104 42
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EXAEATSE (The Athens Stock Exchange)YesCommon Registered SharesGREURAug 2000
0OKRLSE (London Stock Exchange)YesCommon Registered SharesGBEURAug 2000
HEHS.FOTCPK (Pink Sheets LLC)YesCommon Registered SharesUSUSDAug 2000
HEEDB (Deutsche Boerse AG)YesCommon Registered SharesDEEURAug 2000
HEXE.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDJun 2013

Biography

Hellenic Exchanges - Athens Stock Exchange SA provides support services for the operation of Greek capital market. It operates equities and derivatives markets, and the alternative market; and performs clearing and settlement of trades, as well as offers financing tools and solutions to companies. The company is involved in the management of clearing systems and central counterparty; and finalizing, reconciling, or settling the finalization of transactions in financial instruments, as well as operates as a system administrator in the Athens Exchange Clearing House. It engages in carrying out commercial activities to promote and provide IT services and use/broadcast market data, as well as in general the promotion, distribution, support, monitoring, operation and commercial exploitation of products, systems and customized software applications based on corresponding licenses to resell and commercially exploit. In addition, the company offers listing, trading, clearing, settlement, exchange, data feeds, and depository services. The company was formerly known as Hellenic Exchanges S.A. and changed its name to Hellenic Exchanges - Athens Stock Exchange SA in December 2013. Hellenic Exchanges - Athens Stock Exchange SA was founded in 1876 and is headquartered in Athens, Greece. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/28 02:16
End of Day Share Price2019/12/24 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.