Deutsche Börse (DB1.DE)
Financials · Xetra · Europe
Fundamentals
Valuation and ratings
Deutsche Börse trades at €260.90, which is 15% below the €300.96 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 82 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 22.2 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Deutsche Börse
Deutsche Börse AG operates as an international exchange organization in Germany, rest of Europe, the United States, and the Asia-Pacific. The company operates through four segments: Investment Management Solutions, Trading & Clearing, Fund Services, and Securities Services. The Investment Management Solutions segment offers financial data, analytics, and software-as-a-service solutions including research, data collection, data analysis, and the provision of indices, analytics and investment management software to institutional investors, banks, and corporate clients. The Trading & Clearing segment engages in the development and operation of markets and trading systems for securities, derivatives, commodities, currencies, digital assets, and other asset classes. This segment handles settlement of transactions through clearing houses. Its Fund Services segment provides infrastructure and services for fund processing, including order routing, settlement, custody, data and distribution support for investment funds. The Securities Services segment offers various services for securities issuance, settlement, custody as well as collateral, securities lending, and liquidity management. The company was founded in 1585 and is headquartered in Eschborn, Germany.
DB1.DE passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is Deutsche Börse (DB1.DE) undervalued?
Against our discounted cash flow estimate of €300.96, DB1.DE at €260.90 is 15% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is DB1.DE's P/E ratio?
DB1.DE trades at 22.2 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for DB1.DE, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.