NEM Stock Analysis: Nemetschek O.N. | XETRA
Software - Application | XETRA, Germany | Market Cap: 6.694m EUR | 12M Return: -55.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 15.0M
EPS Trend: 96.4%
Qual. Beats: 0
Rev. Trend: 99.0%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 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 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: 246.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.15 > 0.02 and ΔFCF/TA -2.31 > 1.0 |
| NWC/Revenue: -3.70% < 20% (prev -13.84%; Δ 10.14% < -1%) |
| CFO/TA 0.16 > 3% & CFO 381.9m > Net Income 246.4m |
| Net Debt (202.8m) 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: 52.09% > 18% (prev 59.37%; Δ -7.28% > 0.5%) |
| Asset Turnover: 56.96% > 50% (prev 55.76%; Δ 1.20% > 0%) |
| Interest Coverage Ratio: 17.05 > 6 (EBIT TTM 322.6m / Interest Expense TTM 18.9m) |
| 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: 0.84 (Book Value of Equity 1.02b / Total Liabilities 1.21b) |
| Altman-Z'' = 3.03 = A |
| DSRI: 1.26 (Receivables 187.1m/131.3m, Revenue 1.26b/1.12b) |
| GMI: 1.14 (GM 59.37% / 52.09%) |
| AQI: 0.95 (AQ_t 0.71 / AQ_t-1 0.75) |
| SGI: 1.13 (Revenue 1.26b / 1.12b) |
| TATA: -0.06 (NI 246.4m - CFO 381.9m) / TA 2.42b) |
| Beneish M = -2.63 (Cap -4..+1) = A |
As of August 02, 2026, the stock is trading at EUR 58.05 with a total of 423,804 shares traded. Over the past week, the price has changed by +1.57%, over one month by +9.32%, over three months by -5.06% and over the past year by -55.25%.
Current recommended Stop Loss: 51.30 (which is 11.6% or 2.1 ATR below the current price).
Nemetschek O.N. has no consensus analysts rating.
P/E Trailing = 28.8557
P/E Forward = 28.5714
P/S = 5.4799
P/B = 7.6545
P/EG = 1.3732
Revenue TTM = 1.26b EUR
EBIT TTM = 322.6m EUR
EBITDA TTM = 398.2m EUR
Long Term Debt = 359.5m EUR (from longTermDebt, last fiscal year)
Short Term Debt = 13.0m EUR (from shortTermDebt, last quarter)
Debt = 594.9m EUR (from shortLongTermDebtTotal, last quarter) + Leases 44.7m
Net Debt = 202.8m EUR (calculated: Debt 594.9m - CCE 392.1m)
Enterprise Value = 6.90b EUR (6.69b + Debt 594.9m - CCE 392.1m)
Interest Coverage Ratio = 17.05 (Ebit TTM 322.6m / Interest Expense TTM 18.9m)
EV/FCF = 18.73x (Enterprise Value 6.90b / FCF TTM 368.1m)
FCF Yield = 5.34% (FCF TTM 368.1m / Enterprise Value 6.90b)
FCF Margin = 29.24% (FCF TTM 368.1m / Revenue TTM 1.26b)
Net Margin = 19.57% (Net Income TTM 246.4m / Revenue TTM 1.26b)
Gross Margin = 52.09% ((Revenue TTM 1.26b - Cost of Revenue TTM 603.3m) / Revenue TTM)
Gross Margin QoQ = none% (prev 50.81%)
Tobins Q-Ratio = 2.85 (Enterprise Value 6.90b / Total Assets 2.42b)
Interest Expense / Debt = 3.18% (Interest Expense 18.9m / Debt 594.9m)
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 594.9m / totalStockholderEquity, last quarter 1.02b)
Debt / EBITDA = 0.51 (Net Debt 202.8m / EBITDA 398.2m)
Debt / FCF = 0.55 (Net Debt 202.8m / FCF TTM 368.1m)
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 = 24.52% (EBIT 322.6m / Capital Employed (Equity 956.3m + L.T.Debt 359.5m))
RoIC = 14.89% (NOPAT 251.0m / Invested Capital 1.69b)
WACC = 6.45% (E(6.69b)/V(7.29b) * Re(6.80%) + D(594.9m)/V(7.29b) * Rd(3.18%) * (1-Tc(0.22)))
Discount Rate = 6.80% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -6.98 | Cagr: -0.00%
[DCF] Terminal Value 76.06% ; FCFF base≈361.4m ; Y1≈377.4m ; Y5≈432.5m
[DCF] Fair Price = 56.06 (EV 6.67b - Net Debt 202.8m = Equity 6.47b / Shares 115.4m; r=8.35% [WACC [floored]]; 5y FCF grow 4.83% → 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=0.54 | Chg30d=-7.05% | Revisions=+17% | Analysts=2
EPS current Year (2026-12-31): EPS=2.39 | Chg30d=-2.80% | Revisions=-25% | GrowthEPS=+27.2% | GrowthRev=+19.4%
EPS next Year (2027-12-31): EPS=2.82 | Chg30d=-3.87% | Revisions=+0% | GrowthEPS=+17.9% | GrowthRev=+22.5%
[Analyst] Revisions Ratio: +0% (up=3, down=3)