NEM Stock Analysis: Nemetschek O.N. | XETRA
Software - Application | XETRA, Germany | Market Cap: 7.542m EUR | 12M Return: -40.1% | DE0006452907 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 14.0M
EPS Trend: 96.4%
Qual. Beats: 0
Rev. Trend: 99.0%
Qual. Beats: 0
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.
Nemetschek SE is a Munich-based software provider, founded in 1963, that serves the architecture, engineering, construction, operation, and media industries across four segments: Design, Build, Manage, and Media. The Design segment offers BIM-enabled CAD and engineering tools under brands such as Allplan, Graphisoft, and dRofus, while the Build segment delivers 5D BIM, ERP, and cloud-based workflow solutions via Nevaris and Bluebeam to contractors and planners. The Manage segment supports property, facility, and workplace management through Spacewell and Crem Solutions, and the Media segment, operating under the Maxon brand, provides 3D modeling, animation, and rendering software used in film, gaming, advertising, and design.
The company generates revenue primarily through subscription licenses and software services for the global AEC (architecture, engineering, and construction) industry, a sector that has been shifting toward cloud-based, collaborative platforms and digital twin technologies. The Media segment diversifies the business into the broader creative software market, competing in areas such as digital content creation and visual effects.
- Construction industry weakness pressures Design and Build segment revenue
- Maxon Media segment expands on VFX and gaming demand
- Subscription shift lifts recurring revenue mix and operating margins
| Net Income: 246.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.14 > 0.02 and ΔFCF/TA -3.15 > 1.0 |
| NWC/Revenue: -3.70% < 20% (prev -13.84%; Δ 10.14% < -1%) |
| CFO/TA 0.15 > 3% & CFO 363.0m > Net Income 246.4m |
| Net Debt (203.7m) to EBITDA (398.2m): 0.51 < 3 |
| Current Ratio: 0.93 > 1.5 & < 3 |
| Outstanding Shares: last quarter (115.5m) vs 12m ago 0.04% < -2% |
| Gross Margin: 47.56% > 18% (prev 59.37%; Δ -11.81% > 0.5%) |
| Asset Turnover: 56.96% > 50% (prev 55.76%; Δ 1.20% > 0%) |
| Interest Coverage Ratio: 14.65 > 6 (EBIT TTM 322.6m / Interest Expense TTM 22.0m) |
| A: -0.02 (Total Current Assets 635.7m - Total Current Liabilities 682.4m) / Total Assets 2.42b |
| B: 0.40 (Retained Earnings 962.2m / Total Assets 2.42b) |
| C: 0.15 (EBIT TTM 322.6m / Avg Total Assets 2.21b) |
| D: 0.75 (Book Value of Equity 1.02b / Total Liabilities 1.36b) |
| Altman-Z'' = 2.94 = A |
| DSRI: 1.26 (Receivables 187.1m/131.3m, Revenue 1.26b/1.12b) |
| GMI: 1.25 (GM 59.37% / 47.56%) |
| AQI: 0.95 (AQ_t 0.71 / AQ_t-1 0.75) |
| SGI: 1.13 (Revenue 1.26b / 1.12b) |
| TATA: -0.05 (NI 246.4m - CFO 363.0m) / TA 2.42b) |
| Beneish M = -2.53 (Cap -4..+1) = A |
As of October 08, 2026, the stock is trading at EUR 65.15 with a total of 132,645 shares traded. Over the past week, the price has changed by +7.60%, over one month by +1.96%, over three months by +11.46% and over the past year by -40.14%.
Current recommended Stop Loss: 58.10 (which is 10.8% or 2.8 ATR below the current price).
Nemetschek O.N. has no consensus analysts rating.
P/E Trailing = 30.6573
P/E Forward = 22.8311
P/S = 5.9895
P/B = 6.9864
P/EG = 1.2198
Revenue TTM = 1.26b EUR
EBIT TTM = 322.6m EUR
EBITDA TTM = 398.2m EUR
Long Term Debt = 504.8m EUR (from longTermDebt, last quarter)
Short Term Debt = 13.0m EUR (from shortTermDebt, last quarter)
Debt = 595.7m EUR (from shortLongTermDebtTotal, last quarter) + Leases 45.5m
Net Debt = 203.7m EUR (calculated: Debt 595.7m - CCE 392.1m)
Enterprise Value = 7.75b EUR (7.54b + Debt 595.7m - CCE 392.1m)
Interest Coverage Ratio = 14.65 (Ebit TTM 322.6m / Interest Expense TTM 22.0m)
EV/FCF = 22.26x (Enterprise Value 7.75b / FCF TTM 348.0m)
FCF Yield = 4.49% (FCF TTM 348.0m / Enterprise Value 7.75b)
FCF Margin = 27.63% (FCF TTM 348.0m / Revenue TTM 1.26b)
Net Margin = 19.57% (Net Income TTM 246.4m / Revenue TTM 1.26b)
Gross Margin = 47.56% ((Revenue TTM 1.26b - Cost of Revenue TTM 660.3m) / Revenue TTM)
Gross Margin QoQ = 51.08% (prev 50.81%)
Tobins Q-Ratio = 3.20 (Enterprise Value 7.75b / Total Assets 2.42b)
Interest Expense / Debt = 3.70% (Interest Expense 22.0m / Debt 595.7m)
Taxrate = 22.20% (71.5m / 322.1m)
NOPAT = 251.0m (EBIT 322.6m * (1 - 22.20%))
Current Ratio = 0.93 (Total Current Assets 635.7m / Total Current Liabilities 682.4m)
Debt / Equity = 0.58 (Debt 595.7m / totalStockholderEquity, last quarter 1.02b)
Debt / EBITDA = 0.51 (Net Debt 203.7m / EBITDA 398.2m)
Debt / FCF = 0.59 (Net Debt 203.7m / FCF TTM 348.0m)
Total Stockholder Equity = 956.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 11.14% (Net Income 246.4m / Total Assets 2.42b)
RoE = 25.76% (Net Income TTM 246.4m / Total Stockholder Equity 956.3m)
RoCE = 22.08% (EBIT 322.6m / Capital Employed (Equity 956.3m + L.T.Debt 504.8m))
RoIC = 14.89% (NOPAT 251.0m / Invested Capital 1.69b)
WACC = 5.94% (E(7.54b)/V(8.14b) * Re(6.18%) + D(595.7m)/V(8.14b) * Rd(3.70%) * (1-Tc(0.22)))
Discount Rate = 6.18% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -6.98 | Cagr: -0.00%
[DCF] Terminal Value 75.32% ; FCFF base≈349.2m ; Y1≈348.0m ; Y5≈363.0m
[DCF] Fair Price = 47.21 (EV 5.66b - Net Debt 203.7m = Equity 5.45b / Shares 115.5m; r=8.35% [WACC [floored]]; 5y FCF grow -0.91% → 2.50% )
EPS Correlation: 96.35 | EPS CAGR: 17.94% | SUE: -0.33 | # QB: 0
Revenue Correlation: 98.96 | Revenue CAGR: 18.09% | SUE: 0.15 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.63 | Chg30d=-3.90% | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=2.32 | Chg30d=+0.98% | Revisions=+0% | GrowthEPS=+23.3% | GrowthRev=+19.2%
EPS next Year (2027-12-31): EPS=2.90 | Chg30d=-0.63% | Revisions=-25% | GrowthEPS=+25.0% | GrowthRev=+21.2%
[Analyst] Revisions Ratio: -25% (up=0, down=1)