ADYEN Stock Analysis: Adyen | AS
Software - Infrastructure | AS, Netherlands | Market Cap: 28.698m EUR | 12M Return: -27.7% | NL0012969182 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 106M
EPS Trend: 99.3%
Qual. Beats: 0
Rev. Trend: -40.3%
Warnings
Tailwinds
Seasonality 8.1 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Adyen N.V. is a Netherlands-based payments platform operator founded in 2006 and headquartered in Amsterdam. The company serves merchants across Europe, the Middle East, Africa, North America, Asia Pacific, and Latin America, providing an integrated payments stack that combines gateway, risk management, processing, acquiring, and settlement services within a single infrastructure.
Beyond core payment processing across online, in-person, and cross-channel environments, Adyen offers the Adyen for Platforms solution for marketplaces and platform-based businesses, optimization tools such as authentication and tokenization, and financial products including accounts, capital, issuing, and payouts. Its merchant base spans digital, mobility, retail, food and beverage, subscription, SaaS, and travel and hospitality sectors.
Adyen is classified within the GICS Data Processing & Outsourced Services sub-industry. A defining feature of its business model is the full-stack approach-unifying acquiring and processing on one platform-which contrasts with many peers that depend on third-party acquiring banks.
- North America processed volume growth accelerates as enterprise merchants onboard
- Take rate compresses as Stripe competition intensifies for large merchants
- EU payment regulations and DORA compliance costs pressure operating margins
| Net Income: 1.06b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA -1.65 > 1.0 |
| NWC/Revenue: 100.9% < 20% (prev 192.1%; Δ -91.23% < -1%) |
| CFO/TA 0.08 > 3% & CFO 1.03b > Net Income 1.06b |
| Net Debt (-5.29b) to EBITDA (1.36b): -3.88 < 3 |
| Current Ratio: 1.28 > 1.5 & < 3 |
| Outstanding Shares: last quarter (31.6m) vs 12m ago 1.46% < -2% |
| Gross Margin: 73.14% > 18% (prev 65.57%; Δ 7.57% > 0.5%) |
| Asset Turnover: 21.31% > 50% (prev 17.64%; Δ 3.67% > 0%) |
| Interest Coverage Ratio: 166.6 > 6 (EBIT TTM 1.25b / Interest Expense TTM 7.53m) |
| A: 0.21 (Total Current Assets 11.6b - Total Current Liabilities 9.07b) / Total Assets 12.3b |
| B: 0.37 (Retained Earnings 4.58b / Total Assets 12.3b) |
| C: 0.11 (EBIT TTM 1.25b / Avg Total Assets 11.8b) |
| D: 0.76 (Book Value of Equity 5.29b / Total Liabilities 6.97b) |
| Altman-Z'' = 4.09 = AA |
| DSRI: 3.0 (Receivables 778.7m/132.1m, Revenue 2.52b/2.01b) |
| GMI: 0.90 (GM 65.57% / 73.14%) |
| AQI: 1.24 (AQ_t 0.01 / AQ_t-1 0.01) |
| SGI: 1.25 (Revenue 2.52b / 2.01b) |
| TATA: 0.00 (NI 1.06b - CFO 1.03b) / TA 12.3b) |
| Beneish M = -1.15 (Cap -4..+1) = D |
As of August 14, 2026, the stock is trading at EUR 1059.20 with a total of 587,632 shares traded. Over the past week, the price has changed by +13.50%, over one month by +25.54%, over three months by +20.36% and over the past year by -27.70%.
Current recommended Stop Loss: 977.60 (which is 7.7% or 2.7 ATR below the current price).
Adyen has no consensus analysts rating.
P/E Trailing = 27.1075
P/E Forward = 23.9234
P/S = 12.0766
P/B = 5.5771
P/EG = 1.2921
Revenue TTM = 2.52b EUR
EBIT TTM = 1.25b EUR
EBITDA TTM = 1.36b EUR
Long Term Debt = 183.3m EUR (estimated: total debt 252.4m - short term 69.1m)
Short Term Debt = 69.1m EUR (from shortTermDebt, last quarter)
Debt = 252.4m EUR (from shortLongTermDebtTotal, last quarter) (leases 252.4m already included)
Net Debt = -5.29b EUR (calculated: Debt 252.4m - CCE 5.54b)
Enterprise Value = 23.4b EUR (28.7b + Debt 252.4m - CCE 5.54b)
Interest Coverage Ratio = 166.6 (Ebit TTM 1.25b / Interest Expense TTM 7.53m)
EV/FCF = 27.99x (Enterprise Value 23.4b / FCF TTM 836.5m)
FCF Yield = 3.57% (FCF TTM 836.5m / Enterprise Value 23.4b)
FCF Margin = 33.15% (FCF TTM 836.5m / Revenue TTM 2.52b)
Net Margin = 42.11% (Net Income TTM 1.06b / Revenue TTM 2.52b)
Gross Margin = 73.14% ((Revenue TTM 2.52b - Cost of Revenue TTM 677.7m) / Revenue TTM)
Gross Margin QoQ = 78.80% (prev 65.84%)
Tobins Q-Ratio = 1.91 (Enterprise Value 23.4b / Total Assets 12.3b)
Interest Expense / Debt = 2.98% (Interest Expense 7.53m / Debt 252.4m)
Taxrate = 23.78% (331.5m / 1.39b)
NOPAT = 955.9m (EBIT 1.25b * (1 - 23.78%))
Current Ratio = 1.24 (Total Current Assets 11.6b / Total Current Liabilities 9.36b)
Debt / Equity = 0.05 (Debt 252.4m / totalStockholderEquity, last quarter 5.29b)
Debt / EBITDA = -3.88 (Net Debt -5.29b / EBITDA 1.36b)
Debt / FCF = -6.32 (Net Debt -5.29b / FCF TTM 836.5m)
Total Stockholder Equity = 4.44b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.97% (Net Income 1.06b / Total Assets 12.3b)
RoE = 23.92% (Net Income TTM 1.06b / Total Stockholder Equity 4.44b)
RoCE = 27.11% (EBIT 1.25b / Capital Employed (Equity 4.44b + L.T.Debt 183.3m))
RoIC = 7.88% (NOPAT 955.9m / Invested Capital 12.1b)
WACC = 9.52% (E(28.7b)/V(29.0b) * Re(9.58%) + D(252.4m)/V(29.0b) * Rd(2.98%) * (1-Tc(0.24)))
Discount Rate = 9.58% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 89.98 | Cagr: 1.34%
[DCF] Terminal Value 69.12% ; FCFF base≈889.4m ; Y1≈790.2m ; Y5≈655.3m
[DCF] Fair Price = 446.4 (EV 8.79b - Net Debt -5.29b = Equity 14.1b / Shares 31.5m; r=9.52% [WACC]; 5y FCF grow -13.66% → 2.50% )
EPS Correlation: 99.34 | EPS CAGR: 31.05% | SUE: -0.15 | # QB: 0
Revenue Correlation: -40.34 | Revenue CAGR: -17.65% | SUE: N/A | # QB: 0
EPS current Quarter (2026-03-31): EPS=16.94 | Chg30d=-2.87% | Revisions=+0% | Analysts=1
EPS next Quarter (2026-06-30): EPS=16.45 | Chg30d=+0.00% | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=38.17 | Chg30d=-0.13% | Revisions=-58% | GrowthEPS=+13.6% | GrowthRev=+20.8%
EPS next Year (2027-12-31): EPS=46.59 | Chg30d=-0.65% | Revisions=-8% | GrowthEPS=+22.1% | GrowthRev=+21.1%
[Analyst] Revisions Ratio: -38% (up=5, down=13)