(BC8) Bechtle - Overview
Sector: Technology | Industry: Information Technology Services | Exchange: XETRA (Germany) | Market Cap: 3.717m EUR | Total Return: -22.2% in 12m
Avg Turnover: 8.52M
EPS Trend: -81.2%
Qual. Beats: 0
Rev. Trend: 37.0%
Qual. Beats: 1
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
Bechtle AG is a major European IT service provider headquartered in Neckarsulm, Germany. The company operates through two primary segments: IT System House & Managed Services and IT E-Commerce. Its portfolio includes IT strategy consulting, hardware and software procurement, cloud services, and cybersecurity solutions for both corporate and public sector clients.
The business model relies on a decentralized structure, maintaining over 100 system houses across Europe to provide localized support while leveraging a centralized e-commerce platform for high-volume hardware distribution. In the IT services sector, companies often benefit from high switching costs and recurring revenue through multi-year managed service contracts.
For a deeper look into the companys fundamentals, ValueRay provides further data points. Bechtle continues to expand its footprint in the modern workplace and artificial intelligence sectors to address the growing digital transformation needs of mid-sized European enterprises.
- European public sector IT modernization contracts drive long-term revenue stability
- German SME digital transformation spending correlates with regional GDP growth
- Shift toward high-margin managed services improves overall EBITDA performance
- Hardware supply chain disruptions impact short-term IT e-commerce segment margins
- Strategic acquisitions in fragmented European markets expand geographic market share
| Net Income: 235.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -5.41 > 1.0 |
| NWC/Revenue: 14.45% < 20% (prev 16.97%; Δ -2.51% < -1%) |
| CFO/TA 0.07 > 3% & CFO 311.9m > Net Income 235.4m |
| Net Debt (309.1m) to EBITDA (462.8m): 0.67 < 3 |
| Current Ratio: 1.55 > 1.5 & < 3 |
| Outstanding Shares: last quarter (126.0m) vs 12m ago 0.0% < -2% |
| Gross Margin: 18.66% > 18% (prev 0.18%; Δ 1.85k% > 0.5%) |
| Asset Turnover: 149.3% > 50% (prev 152.1%; Δ -2.82% > 0%) |
| Interest Coverage Ratio: 11.21 > 6 (EBITDA TTM 462.8m / Interest Expense TTM 27.1m) |
| A: 0.20 (Total Current Assets 2.65b - Total Current Liabilities 1.71b) / Total Assets 4.61b |
| B: 0.40 (Retained Earnings 1.87b / Total Assets 4.61b) |
| C: 0.07 (EBIT TTM 303.6m / Avg Total Assets 4.36b) |
| D: 0.81 (Book Value of Equity 2.03b / Total Liabilities 2.51b) |
| Altman-Z'' = 3.98 = AA |
| DSRI: 1.10 (Receivables 1.19b/1.04b, Revenue 6.52b/6.26b) |
| GMI: 0.97 (GM 18.66% / 18.04%) |
| AQI: 1.16 (AQ_t 0.31 / AQ_t-1 0.26) |
| SGI: 1.04 (Revenue 6.52b / 6.26b) |
| TATA: -0.02 (NI 235.4m - CFO 311.9m) / TA 4.61b) |
| Beneish M = -2.87 (Cap -4..+1) = A |
As of May 25, 2026, the stock is trading at EUR 30.56 with a total of 274,342 shares traded.
Over the past week, the price has changed by +3.59%,
over one month by +5.16%,
over three months by -5.27% and
over the past year by -22.18%.
Bechtle has no consensus analysts rating.
P/E Trailing = 17.7778
P/E Forward = 20.9205
P/S = 0.5851
P/B = 1.7709
P/EG = 2.9875
Revenue TTM = 6.52b EUR
EBIT TTM = 303.6m EUR
EBITDA TTM = 462.8m EUR
Long Term Debt = 400.9m EUR (from longTermDebt, last fiscal year)
Short Term Debt = 57.2m EUR (from shortTermDebt, last quarter)
Debt = 681.7m EUR (from shortLongTermDebtTotal, last quarter) + Leases 226.8m
Net Debt = 309.1m EUR (calculated: Debt 681.7m - CCE 372.6m)
Enterprise Value = 4.03b EUR (3.72b + Debt 681.7m - CCE 372.6m)
Interest Coverage Ratio = 11.21 (Ebit TTM 303.6m / Interest Expense TTM 27.1m)
EV/FCF = 21.21x (Enterprise Value 4.03b / FCF TTM 189.9m)
FCF Yield = 4.72% (FCF TTM 189.9m / Enterprise Value 4.03b)
FCF Margin = 2.91% (FCF TTM 189.9m / Revenue TTM 6.52b)
Net Margin = 3.61% (Net Income TTM 235.4m / Revenue TTM 6.52b)
Gross Margin = 18.66% ((Revenue TTM 6.52b - Cost of Revenue TTM 5.30b) / Revenue TTM)
Gross Margin QoQ = 18.69% (prev 19.07%)
Tobins Q-Ratio = 0.87 (Enterprise Value 4.03b / Total Assets 4.61b)
Interest Expense / Debt = 3.97% (Interest Expense 27.1m / Debt 681.7m)
Taxrate = 27.60% (17.0m / 61.6m)
NOPAT = 219.8m (EBIT 303.6m * (1 - 27.60%))
Current Ratio = 1.55 (Total Current Assets 2.65b / Total Current Liabilities 1.71b)
Debt / Equity = 0.32 (Debt 681.7m / totalStockholderEquity, last quarter 2.10b)
Debt / EBITDA = 0.67 (Net Debt 309.1m / EBITDA 462.8m)
Debt / FCF = 1.63 (Net Debt 309.1m / FCF TTM 189.9m)
Total Stockholder Equity = 2.00b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.39% (Net Income 235.4m / Total Assets 4.61b)
RoE = 11.74% (Net Income TTM 235.4m / Total Stockholder Equity 2.00b)
RoCE = 12.62% (EBIT 303.6m / Capital Employed (Equity 2.00b + L.T.Debt 400.9m))
RoIC = 8.20% (NOPAT 219.8m / Invested Capital 2.68b)
WACC = 6.55% (E(3.72b)/V(4.40b) * Re(7.22%) + D(681.7m)/V(4.40b) * Rd(3.97%) * (1-Tc(0.28)))
Discount Rate = 7.22% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 0.0 | Cagr: 0.0%
[DCF] Terminal Value 73.10% ; FCFF base≈270.9m ; Y1≈237.5m ; Y5≈191.9m
[DCF] Fair Price = 22.00 (EV 3.08b - Net Debt 309.1m = Equity 2.77b / Shares 126.0m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -81.24 | EPS CAGR: -6.97% | SUE: 0.40 | # QB: 0
Revenue Correlation: 36.96 | Revenue CAGR: 0.48% | SUE: 1.43 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.42 | Chg30d=N/A | Revisions=N/A | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.46 | Chg30d=N/A | Revisions=N/A | Analysts=2
EPS current Year (2026-12-31): EPS=1.87 | Chg30d=-3.74% | Revisions=-33% | GrowthEPS=+2.9% | GrowthRev=+3.9%
EPS next Year (2027-12-31): EPS=2.11 | Chg30d=-2.85% | Revisions=-25% | GrowthEPS=+12.6% | GrowthRev=+6.1%
[Analyst] Revisions Ratio: -33%