FTK Stock Analysis: flatexDEGIRO | XETRA
Capital Markets | XETRA, Germany | Market Cap: 2.876m EUR | 12M Return: -15.6% | DE000FTG1111 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 12.9M
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 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.
flatexDEGIRO SE is a Frankfurt am Main-based financial services company founded in 1999 that operates two main businesses: retail online brokerage through its flatex and DEGIRO brands (including execution-only trading, funds, saving plans, stocks, ETFs/ETPs, crypto, and the ViTrade professional trader platform), and B2B IT solutions for banks and securities firms, including securities settlement, payment processing, business process outsourcing, and its Core Banking System platform. The company also offers treasury products such as deposits and bonds, securities-backed loans, and UCITS/special funds administration.
Notably, flatexDEGIRO operates a hybrid business model combining a pan-European discount brokerage franchise with B2B banking infrastructure and software services, which explains its classification under the Information Technology / Application Software GICS sub-industry rather than traditional financial services. The company was renamed flatexDEGIRO SE in December 2025, reflecting its European corporate structure.
- DEGIRO active clients and transaction volume drive fee revenue
- ECB rate cuts compress net interest income on client cash balances
- European neobroker competition pressures customer acquisition costs
| Net Income: 193.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 0.53 > 1.0 |
| NWC/Revenue: 1.00k% < 20% (prev 1.07k%; Δ -63.60% < -1%) |
| CFO/TA 0.26 > 3% & CFO 2.10b > Net Income 193.9m |
| Net Debt (-930.0m) to EBITDA (319.6m): -2.91 < 3 |
| Current Ratio: 49.16 > 1.5 & < 3 |
| Outstanding Shares: last quarter (110.1m) vs 12m ago -0.06% < -2% |
| Gross Margin: 70.14% > 18% (prev 73.53%; Δ -3.39% > 0.5%) |
| Asset Turnover: 8.64% > 50% (prev 7.88%; Δ 0.76% > 0%) |
| Interest Coverage Ratio: 74.78 > 6 (EBIT TTM 269.2m / Interest Expense TTM 3.60m) |
| A: 0.77 (Total Current Assets 6.37b - Total Current Liabilities 129.5m) / Total Assets 8.05b |
| B: 0.08 (Retained Earnings 678.4m / Total Assets 8.05b) |
| C: 0.04 (EBIT TTM 269.2m / Avg Total Assets 7.19b) |
| D: 0.14 (Book Value of Equity 974.6m / Total Liabilities 7.08b) |
| Altman-Z'' = 5.75 = AAA |
| DSRI: 1.10 (Receivables 1.75b/1.28b, Revenue 621.5m/499.2m) |
| GMI: 1.05 (GM 73.53% / 70.14%) |
| AQI: 1.53 (AQ_t 0.20 / AQ_t-1 0.13) |
| SGI: 1.25 (Revenue 621.5m / 499.2m) |
| TATA: -0.24 (NI 193.9m - CFO 2.10b) / TA 8.05b) |
| Beneish M = -2.44 (Cap -4..+1) = BBB |
As of October 08, 2026, the stock is trading at EUR 25.44 with a total of 519,292 shares traded. Over the past week, the price has changed by -12.94%, over one month by -28.26%, over three months by -32.95% and over the past year by -15.64%.
Current recommended Stop Loss: 23.70 (which is 6.8% or 1.3 ATR below the current price).
flatexDEGIRO has no consensus analysts rating.
P/E Trailing = 14.6087
P/S = 4.6547
P/B = 3.3774
Revenue TTM = 621.5m EUR
EBIT TTM = 269.2m EUR
EBITDA TTM = 319.6m EUR
Long Term Debt = 31.2m EUR (estimated: total debt 160.7m - short term 129.5m)
Short Term Debt = 129.5m EUR (from shortTermDebt, last quarter)
Debt = 205.3m EUR (from shortLongTermDebtTotal, last quarter) + Leases 44.6m
Net Debt = -930.0m EUR (calculated: Debt 205.3m - CCE 1.14b)
Enterprise Value = 1.95b EUR (2.88b + Debt 205.3m - CCE 1.14b)
Interest Coverage Ratio = 74.78 (Ebit TTM 269.2m / Interest Expense TTM 3.60m)
EV/FCF = 8.54x (Enterprise Value 1.95b / FCF TTM 227.8m)
FCF Yield = 11.70% (FCF TTM 227.8m / Enterprise Value 1.95b)
FCF Margin = 36.65% (FCF TTM 227.8m / Revenue TTM 621.5m)
Net Margin = 31.20% (Net Income TTM 193.9m / Revenue TTM 621.5m)
Gross Margin = 70.14% ((Revenue TTM 621.5m - Cost of Revenue TTM 185.6m) / Revenue TTM)
Gross Margin QoQ = 72.63% (prev 67.13%)
Tobins Q-Ratio = 0.24 (Enterprise Value 1.95b / Total Assets 8.05b)
Interest Expense / Debt = 1.75% (Interest Expense 3.60m / Debt 205.3m)
Taxrate = 27.81% (74.7m / 268.6m)
NOPAT = 194.3m (EBIT 269.2m * (1 - 27.81%))
Current Ratio = 45.50 (Total Current Assets 6.37b / Total Current Liabilities 139.9m)
Debt / Equity = 0.21 (Debt 205.3m / totalStockholderEquity, last quarter 974.6m)
Debt / EBITDA = -2.91 (Net Debt -930.0m / EBITDA 319.6m)
Debt / FCF = -4.08 (Net Debt -930.0m / FCF TTM 227.8m)
Total Stockholder Equity = 859.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.70% (Net Income 193.9m / Total Assets 8.05b)
RoE = 22.56% (Net Income TTM 193.9m / Total Stockholder Equity 859.4m)
RoCE = 30.23% (EBIT 269.2m / Capital Employed (Equity 859.4m + L.T.Debt 31.2m))
RoIC = 2.42% (NOPAT 194.3m / Invested Capital 8.02b)
WACC = 7.65% (E(2.88b)/V(3.08b) * Re(8.11%) + D(205.3m)/V(3.08b) * Rd(1.75%) * (1-Tc(0.28)))
Discount Rate = 8.11% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 45.88 | Cagr: 0.14%
[DCF] Terminal Value 77.97% ; FCFF base≈194.8m ; Y1≈223.4m ; Y5≈328.7m
[DCF] Fair Price = 54.92 (EV 4.95b - Net Debt -930.0m = Equity 5.88b / Shares 107.0m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 99.23 | Revenue CAGR: 19.07% | SUE: N/A | # QB: 0
EPS current Quarter (2026-03-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS next Quarter (2026-06-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=2.11 | Chg30d=-0.26% | Revisions=+0% | GrowthEPS=+40.5% | GrowthRev=+17.2%
EPS next Year (2027-12-31): EPS=2.42 | Chg30d=+0.04% | Revisions=+17% | GrowthEPS=+14.9% | GrowthRev=+9.5%
[Analyst] Revisions Ratio: +12% (up=3, down=2)