(NEM) Nemetschek O.N. - XETRA
Sector: Technology | Industry: Software - Application | Exchange: XETRA (Germany) | Market Cap: 6.203m EUR | Total Return: 64.1% in 12m
Avg Turnover: 17.3M
EPS Trend: 96.7%
Qual. Beats: -2
Rev. Trend: 98.6%
Qual. Beats: 0
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
Nemetschek SE is a Munich-based software provider founded in 1963 that serves the architecture, engineering, construction, operation, and media industries worldwide. Its offerings are organized into four segments - Design, Build, Manage, and Media - each targeting a distinct stage of the building lifecycle or content creation workflow.
The Design segment supplies building information modeling (BIM) and computer-aided design solutions under the Allplan, Graphisoft, and dRofus brands, serving architects, engineers, and planners. The Build segment provides 5D BIM, enterprise resource planning, and cloud-based workflow tools through the Nevaris and Bluebeam brands for contractors and developers. The Manage segment offers property, facility, and workplace management software under the Spacewell and Crem Solutions brands, aimed at property managers, real estate firms, banks, and insurers. The Media segment operates under the Maxon brand, delivering 3D modeling, animation, and rendering tools used in film, TV, gaming, advertising, and visualization work.
Nemetschek operates within the architecture, engineering, and construction (AEC) software sector, a niche driven by the global adoption of BIM-based digital workflows and by demand for tools that connect planning, construction, and ongoing building operations. Its subscription- and license-based enterprise software model targets professional users rather than general consumers, which is typical of specialized vertical software vendors.
- BIM adoption fuels recurring subscription revenue growth
- Construction industry weakness pressures Build segment license sales
- Maxon 3D software benefits from film and gaming VFX demand
| Net Income: 232.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.17 > 0.02 and ΔFCF/TA 0.60 > 1.0 |
| NWC/Revenue: -15.51% < 20% (prev -14.05%; Δ -1.46% < -1%) |
| CFO/TA 0.18 > 3% & CFO 393.3m > Net Income 232.7m |
| Net Debt (97.2m) to EBITDA (390.1m): 0.25 < 3 |
| Current Ratio: 0.73 > 1.5 & < 3 |
| Outstanding Shares: last quarter (115.5m) vs 12m ago -0.01% < -2% |
| Gross Margin: 48.60% > 18% (prev 57.85%; Δ -9.25% > 0.5%) |
| Asset Turnover: 55.98% > 50% (prev 49.27%; Δ 6.71% > 0%) |
| Interest Coverage Ratio: 10.60 > 6 (EBIT TTM 316.2m / Interest Expense TTM 29.8m) |
| A: -0.09 (Total Current Assets 512.1m - Total Current Liabilities 701.6m) / Total Assets 2.22b |
| B: 0.44 (Retained Earnings 971.5m / Total Assets 2.22b) |
| C: 0.14 (EBIT TTM 316.2m / Avg Total Assets 2.18b) |
| D: 0.86 (Book Value of Equity 1.01b / Total Liabilities 1.17b) |
| Altman-Z'' = 2.75 = A |
| DSRI: 0.97 (Receivables 160.8m/143.5m, Revenue 1.22b/1.05b) |
| GMI: 1.19 (GM 57.85% / 48.60%) |
| AQI: 1.00 (AQ_t 0.74 / AQ_t-1 0.75) |
| SGI: 1.16 (Revenue 1.22b / 1.05b) |
| TATA: -0.07 (NI 232.7m - CFO 393.3m) / TA 2.22b) |
| Beneish M = -2.78 (Cap -4..+1) = A |
As of June 27, 2026, the stock is trading at EUR 52.45 with a total of 459,119 shares traded. Over the past week, the price has changed by -7.38%, over one month by -13.67%, over three months by -3.02% and over the past year by +64.14%.
Current recommended Stop Loss: 49.20 (which is 6.2% or 1.3 ATR below the current price).
Nemetschek O.N. has no consensus analysts rating.
P/E Trailing = 26.7413
P/E Forward = 22.9358
P/S = 5.0783
P/B = 6.1509
P/EG = 1.1035
Revenue TTM = 1.22b EUR
EBIT TTM = 316.2m EUR
EBITDA TTM = 390.1m EUR
Long Term Debt = 299.6m EUR (from longTermDebt, last quarter)
Short Term Debt = 12.6m EUR (from shortTermDebt, last quarter)
Debt = 388.9m EUR (from shortLongTermDebtTotal, last quarter) + Leases 44.7m
Net Debt = 97.2m EUR (calculated: Debt 388.9m - CCE 291.8m)
Enterprise Value = 6.30b EUR (6.20b + Debt 388.9m - CCE 291.8m)
Interest Coverage Ratio = 10.60 (Ebit TTM 316.2m / Interest Expense TTM 29.8m)
EV/FCF = 16.72x (Enterprise Value 6.30b / FCF TTM 376.9m)
FCF Yield = 5.98% (FCF TTM 376.9m / Enterprise Value 6.30b)
FCF Margin = 30.85% (FCF TTM 376.9m / Revenue TTM 1.22b)
Net Margin = 19.05% (Net Income TTM 232.7m / Revenue TTM 1.22b)
Gross Margin = 48.60% ((Revenue TTM 1.22b - Cost of Revenue TTM 627.9m) / Revenue TTM)
Gross Margin QoQ = 50.81% (prev 38.09%)
Tobins Q-Ratio = 2.83 (Enterprise Value 6.30b / Total Assets 2.22b)
Interest Expense / Debt = 7.67% (Interest Expense 29.8m / Debt 388.9m)
Taxrate = 22.03% (66.9m / 303.9m)
NOPAT = 246.5m (EBIT 316.2m * (1 - 22.03%))
Current Ratio = 0.73 (Total Current Assets 512.1m / Total Current Liabilities 701.6m)
Debt / Equity = 0.38 (Debt 388.9m / totalStockholderEquity, last quarter 1.01b)
Debt / EBITDA = 0.25 (Net Debt 97.2m / EBITDA 390.1m)
Debt / FCF = 0.26 (Net Debt 97.2m / FCF TTM 376.9m)
Total Stockholder Equity = 904.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 10.67% (Net Income 232.7m / Total Assets 2.22b)
RoE = 25.74% (Net Income TTM 232.7m / Total Stockholder Equity 904.1m)
RoCE = 26.27% (EBIT 316.2m / Capital Employed (Equity 904.1m + L.T.Debt 299.6m))
RoIC = 16.72% (NOPAT 246.5m / Invested Capital 1.47b)
WACC = 7.57% (E(6.20b)/V(6.59b) * Re(7.67%) + D(388.9m)/V(6.59b) * Rd(7.67%) * (1-Tc(0.22)))
Discount Rate = 7.67% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -21.77 | Cagr: -0.00%
[DCF] Terminal Value 76.40% ; FCFF base≈366.1m ; Y1≈391.1m ; Y5≈469.1m
[DCF] Fair Price = 61.58 (EV 7.20b - Net Debt 97.2m = Equity 7.11b / Shares 115.4m; r=8.35% [WACC [floored]]; 5y FCF grow 7.74% → 2.50% )
EPS Correlation: 96.65 | EPS CAGR: 17.06% | SUE: -2.16 | # QB: -2
Revenue Correlation: 98.58 | Revenue CAGR: 17.58% | SUE: 0.10 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.60 | Chg30d=-0.40% | Revisions=+14% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.67 | Chg30d=+2.36% | Revisions=+14% | Analysts=3
EPS current Year (2026-12-31): EPS=2.46 | Chg30d=-1.21% | Revisions=+9% | GrowthEPS=+30.8% | GrowthRev=+12.9%
EPS next Year (2027-12-31): EPS=2.94 | Chg30d=+0.00% | Revisions=-27% | GrowthEPS=+19.5% | GrowthRev=+13.6%
[Analyst] Revisions Ratio: -27%