Financials Vectron Systems AG Deutsche Boerse AG

Equities

Market Closed - Deutsche Boerse AG Other stock markets 02:03:32 2024-07-05 am EDT			5-day change	1st Jan Change
10.7 ^EUR	+0.47%		+0.94%	+87.06%

Jun. 13	Shift4 Payments, Inc. completed the acquisition of 41.43% stake in Vectron Systems AG from Thomas Stümmler and Tosho Capital GmbH.	CI
Jun. 13	Shift4 Payments, Inc. completed the acquisition of remaining 48.6% stake in Vectron Systems AG.	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	133.1	81.58	57.52	27.79	46.41	86.61	-	-
Enterprise Value (EV) ¹	132.2	73.28	37.66	26.61	42.41	101.3	98.11	86.61
P/E ratio	-95.9 x	-39.5 x	23.8 x	-5.31 x	-57.6 x	113 x	33.1 x	-
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	5.29 x	2.94 x	1.5 x	1.1 x	1.25 x	1.92 x	1.69 x	1.5 x
EV / Revenue	5.25 x	2.64 x	0.99 x	1.06 x	1.15 x	2.25 x	1.91 x	1.5 x
EV / EBITDA	-96.6 x	-33 x	8 x	-6.9 x	11.4 x	19.7 x	12.1 x	7.14 x
EV / FCF	-48.5 x	-14.7 x	3.87 x	-12.4 x	-16.1 x	92.1 x	30.7 x	-7.8 x
FCF Yield	-2.06%	-6.82%	25.8%	-8.06%	-6.2%	1.09%	3.26%	-12.8%
Price to Book	9.66 x	3.58 x	2.25 x	1.36 x	2.35 x	4.13 x	3.71 x	-
Nbr of stocks (in thousands)	7,273	8,038	8,057	8,057	8,057	8,057	-	-
Reference price ²	18.30	10.15	7.140	3.450	5.760	10.75	10.75	10.75
Announcement Date	4/30/20	4/30/21	4/29/22	4/28/23	5/14/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	25.17	27.77	38.23	25.22	37.02	45	51.4	57.56
EBITDA ¹	-1.368	-2.218	4.706	-3.857	3.716	5.135	8.125	12.13
EBIT ¹	-1.759	-2.606	3.129	-5.358	0.003	2.92	5.91	9
Operating Margin	-6.99%	-9.38%	8.19%	-21.25%	0.01%	6.49%	11.5%	15.63%
Earnings before Tax (EBT) ¹	-1.952	-2.78	3.116	-5.459	-1.446	1.9	4.6	-
Net income ¹	-1.392	-2.065	2.437	-5.271	-0.778	0.745	2.65	-
Net margin	-5.53%	-7.44%	6.38%	-20.9%	-2.1%	1.66%	5.16%	-
EPS ²	-0.1909	-0.2569	0.3000	-0.6500	-0.1000	0.0950	0.3250	-
Free Cash Flow ¹	-2.727	-4.997	9.726	-2.144	-2.629	1.1	3.2	-11.1
FCF margin	-10.83%	-17.99%	25.44%	-8.5%	-7.1%	2.44%	6.23%	-19.28%
FCF Conversion (EBITDA)	-	-	206.67%	-	-	21.42%	39.38%	-
FCF Conversion (Net income)	-	-	399.1%	-	-	147.65%	120.75%	-
Dividend per Share ²	-	-	-	-	-	-	-	-
Announcement Date	4/30/20	4/30/21	4/29/22	4/28/23	5/14/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	14.7	11.5	-
Net Cash position ¹	0.9	8.3	19.9	1.18	4	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	2.863 x	1.415 x	-
Free Cash Flow ¹	-2.73	-5	9.73	-2.14	-2.63	1.1	3.2	-11.1
ROE (net income / shareholders' equity)	-11.6%	-11.3%	10%	-22.9%	-3.87%	4.6%	12.5%	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	1.890	2.830	3.170	2.540	2.450	2.600	2.900	-
Cash Flow per Share	-0.3400	-0.4700	1.260	-	-	-	-	-
Capex ¹	0.22	1.23	0.45	0.09	0.53	0.7	0.8	-
Capex / Sales	0.86%	4.42%	1.19%	0.36%	1.44%	1.56%	1.56%	-
Announcement Date	4/30/20	4/30/21	4/29/22	4/28/23	5/14/24	-	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

10.75 EUR

Average target price

10.25 EUR

Spread / Average Target

-4.65%

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