(DB1) Deutsche Börse - Ratings and Ratios
Indices, Trading Venues, Clearing, Settlement, Fund Processing
Dividends
| Dividend Yield | 1.80% |
| Yield on Cost 5y | 3.25% |
| Yield CAGR 5y | 6.99% |
| Payout Consistency | 92.2% |
| Payout Ratio | 36.4% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 20.7% |
| Value at Risk 5%th | 34.4% |
| Relative Tail Risk | 1.13% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.01 |
| Alpha | -2.96 |
| CAGR/Max DD | 0.44 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.425 |
| Beta | -0.011 |
| Beta Downside | 0.018 |
| Drawdowns 3y | |
|---|---|
| Max DD | 29.51% |
| Mean DD | 5.76% |
| Median DD | 3.19% |
Description: DB1 Deutsche Börse December 03, 2025
Deutsche Börse AG (ticker DB1) is a Frankfurt-based, multinational exchange group active across Europe, the United States and the Asia-Pacific, operating four core segments: Investment Management Solutions, Trading & Clearing, Fund Services, and Securities Services.
Its Investment Management Solutions business supplies index licensing (e.g., STOXX, DAX), custom-index creation, research, and analytics platforms, while also offering pre-IPO and listing services that support companies through market-structure design, growth financing and public-market transition.
The Trading & Clearing segment runs the cash-equity venues Xetra, Börse Frankfurt and Tradegate, and provides derivatives clearing via Eurex and European commodity clearing, together delivering real-time market data, spot, FX and derivative products.
Fund Services encompass securities issuance, settlement, asset-service operations, Clearstream Fund Centre processing, and Kneip’s fund-data management and reporting tools for asset managers.
Securities Services extend to third-party clearing through Nodal Clear, SaaS platforms for trading participants, API connectivity, and broader IT solutions under the Deutsche Börse and 7 Market Technology brands.
Key recent metrics: FY 2023 net revenue of €5.5 billion, EBIT margin of roughly 45 %, and a ~30 % share of European derivatives clearing volume, reflecting strong cash-flow generation and market-share positioning.
Sector drivers include the EU’s MiFID II regulatory framework, accelerating demand for low-latency data feeds, and the ongoing shift toward digital, API-first trading infrastructure across asset classes.
For a deeper quantitative assessment, you may find the ValueRay platform’s proprietary metrics on DB1’s valuation and cash-flow outlook worth exploring.
Piotroski VR‑10 (Strict, 0-10) 3.5
| Net Income (1.99b TTM) > 0 and > 6% of Revenue (6% = 433.7m TTM) |
| FCFTA 0.01 (>2.0%) and ΔFCFTA -0.27pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 46.74% (prev 33.35%; Δ 13.38pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.01 (>3.0%) and CFO 3.74b > Net Income 1.99b (YES >=105%, WARN >=100%) |
| Net Debt (-1.71b) to EBITDA (3.46b) ratio: -0.49 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.01 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (183.5m) change vs 12m ago -0.15% (target <= -2.0% for YES) |
| Gross Margin 54.28% (prev 69.22%; Δ -14.94pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 2.63% (prev 3.84%; Δ -1.21pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 22.92 (EBITDA TTM 3.46b / Interest Expense TTM 129.9m) >= 6 (WARN >= 3) |
Altman Z'' 0.29
| (A) 0.01 = (Total Current Assets 270.02b - Total Current Liabilities 266.64b) / Total Assets 294.27b |
| (B) 0.03 = Retained Earnings (Balance) 9.21b / Total Assets 294.27b |
| (C) 0.01 = EBIT TTM 2.98b / Avg Total Assets 275.19b |
| (D) 0.03 = Book Value of Equity 9.61b / Total Liabilities 283.25b |
| Total Rating: 0.29 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 85.33
| 1. Piotroski 3.50pt |
| 2. FCF Yield 4.23% |
| 3. FCF Margin 28.36% |
| 4. Debt/Equity 0.91 |
| 5. Debt/Ebitda -0.49 |
| 6. ROIC - WACC (= 12.18)% |
| 7. RoE 18.67% |
| 8. Rev. Trend 68.25% |
| 9. EPS Trend 76.97% |
What is the price of DB1 shares?
Over the past week, the price has changed by -3.69%, over one month by +0.95%, over three months by -9.68% and over the past year by +0.49%.
Is DB1 a buy, sell or hold?
What are the forecasts/targets for the DB1 price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 256.6 | 15.6% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 234 | 5.4% |
DB1 Fundamental Data Overview November 26, 2025
Market Cap EUR = 40.63b (40.63b EUR * 1.0 EUR.EUR)
P/E Trailing = 20.1918
P/E Forward = 18.5874
P/S = 5.5644
P/B = 3.6767
P/EG = 3.237
Beta = 0.398
Revenue TTM = 7.23b EUR
EBIT TTM = 2.98b EUR
EBITDA TTM = 3.46b EUR
Long Term Debt = 6.22b EUR (from longTermDebt, last quarter)
Short Term Debt = 24.13b EUR (from shortTermDebt, last quarter)
Debt = 9.58b EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -1.71b EUR (from netDebt column, last quarter)
Enterprise Value = 48.50b EUR (40.63b + Debt 9.58b - CCE 1.71b)
Interest Coverage Ratio = 22.92 (Ebit TTM 2.98b / Interest Expense TTM 129.9m)
FCF Yield = 4.23% (FCF TTM 2.05b / Enterprise Value 48.50b)
FCF Margin = 28.36% (FCF TTM 2.05b / Revenue TTM 7.23b)
Net Margin = 27.47% (Net Income TTM 1.99b / Revenue TTM 7.23b)
Gross Margin = 54.28% ((Revenue TTM 7.23b - Cost of Revenue TTM 3.31b) / Revenue TTM)
Gross Margin QoQ = 45.18% (prev 57.35%)
Tobins Q-Ratio = 0.16 (Enterprise Value 48.50b / Total Assets 294.27b)
Interest Expense / Debt = 0.41% (Interest Expense 39.2m / Debt 9.58b)
Taxrate = 26.09% (189.5m / 726.3m)
NOPAT = 2.20b (EBIT 2.98b * (1 - 26.09%))
Current Ratio = 1.01 (Total Current Assets 270.02b / Total Current Liabilities 266.64b)
Debt / Equity = 0.91 (Debt 9.58b / totalStockholderEquity, last quarter 10.56b)
Debt / EBITDA = -0.49 (Net Debt -1.71b / EBITDA 3.46b)
Debt / FCF = -0.83 (Net Debt -1.71b / FCF TTM 2.05b)
Total Stockholder Equity = 10.64b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.67% (Net Income 1.99b / Total Assets 294.27b)
RoE = 18.67% (Net Income TTM 1.99b / Total Stockholder Equity 10.64b)
RoCE = 17.66% (EBIT 2.98b / Capital Employed (Equity 10.64b + L.T.Debt 6.22b))
RoIC = 17.07% (NOPAT 2.20b / Invested Capital 12.89b)
WACC = 4.89% (E(40.63b)/V(50.22b) * Re(5.97%) + D(9.58b)/V(50.22b) * Rd(0.41%) * (1-Tc(0.26)))
Discount Rate = 5.97% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -100.0 | Cagr: -0.45%
[DCF Debug] Terminal Value 78.26% ; FCFE base≈2.22b ; Y1≈2.21b ; Y5≈2.34b
Fair Price DCF = 225.9 (DCF Value 41.40b / Shares Outstanding 183.3m; 5y FCF grow -0.83% → 3.0% )
EPS Correlation: 76.97 | EPS CAGR: 12.96% | SUE: 0.87 | # QB: 1
Revenue Correlation: 68.25 | Revenue CAGR: 14.85% | SUE: 0.49 | # QB: 0
EPS next Quarter (2026-03-31): EPS=2.91 | Chg30d=+0.006 | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=11.61 | Chg30d=+0.165 | Revisions Net=-3 | Growth EPS=+5.3% | Growth Revenue=+4.3%