Financials IT Link Deutsche Boerse AG

Equities

IL8

FR0000072597

IT Services & Consulting

Market Closed - Deutsche Boerse AG Other stock markets 02:08:00 2024-07-12 am EDT			5-day change	1st Jan Change
28.6 ^EUR	-2.05%		-1.72%	0.00%

Apr. 26	IT Link SA Reports Earnings Results for the Full Year Ended December 31, 2023	CI
Feb. 16	IT Link: nearly 14% increase in annual sales	CF

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	25.77	20.68	45.01	40.81	49.29	49.95	-	-
Enterprise Value (EV) ¹	29.29	15.27	36.65	40.81	49.29	45.66	41.89	37.82
P/E ratio	10.5 x	11.9 x	15.9 x	13.5 x	14.7 x	12.2 x	10.9 x	10.1 x
Yield	-	-	0.91%	-	-	1.63%	1.83%	1.97%
Capitalization / Revenue	0.5 x	0.42 x	0.77 x	0.63 x	0.67 x	0.6 x	0.58 x	0.56 x
EV / Revenue	0.56 x	0.31 x	0.62 x	0.63 x	0.67 x	0.54 x	0.48 x	0.43 x
EV / EBITDA	6.35 x	3.57 x	5.77 x	6.74 x	7.49 x	6.09 x	5.05 x	4.27 x
EV / FCF	8.84 x	-	-	-	-	9.93 x	7.9 x	6.63 x
FCF Yield	11.3%	-	-	-	-	10.1%	12.7%	15.1%
Price to Book	1.72 x	-	-	-	-	0.76 x	0.72 x	0.67 x
Nbr of stocks (in thousands)	1,636	1,634	1,637	1,693	1,682	1,693	-	-
Reference price ²	15.75	12.65	27.50	24.10	29.30	29.50	29.50	29.50
Announcement Date	3/31/20	4/30/21	4/30/22	4/28/23	4/26/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	51.97	49.11	58.75	64.44	73.32	83.81	86.51	88.67
EBITDA ¹	4.61	4.281	6.355	6.052	6.577	7.5	8.3	8.85
EBIT ¹	3.45	3.15	4.836	4.684	5.374	6.1	6.9	7.45
Operating Margin	6.64%	6.41%	8.23%	7.27%	7.33%	7.28%	7.98%	8.4%
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-
Net income ¹	2.58	1.84	2.986	3.078	3.423	4.2	4.69	5.08
Net margin	4.96%	3.75%	5.08%	4.78%	4.67%	5.01%	5.42%	5.73%
EPS ²	1.500	1.060	1.730	1.780	2.000	2.420	2.700	2.920
Free Cash Flow ¹	3.313	-	-	-	-	4.6	5.3	5.7
FCF margin	6.37%	-	-	-	-	5.49%	6.13%	6.43%
FCF Conversion (EBITDA)	71.87%	-	-	-	-	61.33%	63.86%	64.41%
FCF Conversion (Net income)	128.41%	-	-	-	-	109.52%	113.01%	112.2%
Dividend per Share ²	-	-	0.2500	-	-	0.4800	0.5400	0.5800
Announcement Date	3/31/20	4/30/21	4/30/22	4/28/23	4/26/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2
Net sales ¹	26.93
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income	-
Net margin	-
EPS	-
Dividend per Share	-
Announcement Date	3/31/20

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	3.52	-	-	-	-	-	-	-
Net Cash position ¹	-	5.4	8.36	-	-	4.29	8.06	12.1
Leverage (Debt/EBITDA)	0.7638 x	-	-	-	-	-	-	-
Free Cash Flow ¹	3.31	-	-	-	-	4.6	5.3	5.7
ROE (net income / shareholders' equity)	18.9%	11.5%	16.3%	-	-	14.6%	14.4%	13.8%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	9.180	-	-	-	-	38.60	41.20	43.90
Cash Flow per Share ²	1.960	1.920	4.180	-	-	3.220	3.510	3.730
Capex ¹	1.32	-	-	-	-	0.5	0.5	0.5
Capex / Sales	2.54%	-	-	-	-	0.6%	0.58%	0.56%
Announcement Date	3/31/20	4/30/21	4/30/22	4/28/23	4/26/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for IT Link

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

29.5 EUR

Average target price

39.4 EUR

Spread / Average Target

+33.56%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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