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Deutsche Börse AG DB1.DE

DE · Deutsche Börse Xetra · XETR · stock · Financial Services · website

Deutsche Börse AG statistics & valuation

Market cap€49.0B
P / E24.6×
P / S6.6×
P / B4.3×
P / FCF20.2×
Net margin27.0%
FCF margin32.9%
Net debt€6.1B
Enterprise value USD$63.6B
Earnings yield EBIT/EV5.4%
Return on capital11.2%
Graham number -54.4%€124.05

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (€124.05); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
28.60% 28.30% 27.70% 27.00% 2022202320242025
Gross margin (%)
57.30% 59.20% 58.30% 57.00% 2022202320242025
Operating margin (%)
41.30% 41.60% 40.60% 40.30% 2022202320242025
Return on equity (%)
17.60% 17.80% 18.10% 17.60% 2022202320242025
Shares outstanding
180.3M 180.3M 180.3M 180.3M 2022202320242025
Net debt (€)
€3.47B €6.63B €7.18B €6.06B 2022202320242025
Share buybacks (€)
€0 €298.0M €504.0M 2022202320242025
Return on assets (%)
0.60% 0.70% 0.90% 0.70% 2022202320242025
Free cash flow margin (%)
41.30% 37.40% 29.20% 32.90% 2022202320242025
Debt / equity (×)
0.63× 0.90× 0.89× 0.72× 2022202320242025
EPS (€)
€8.12 €9.34 €10.58 €10.90 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Deutsche Börse AG trades at about 24.9× earnings — above its 10-year norm (10-year range 19.6×–22.5×, median 20.2×).

19.6× 24.9×

Shaded band = 10-year range (19.6×–22.5×); dot = today's 24.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin57.0%58.3%59.2%57.3%
Operating margin40.3%40.6%41.6%41.3%
Net margin27.0%27.7%28.3%28.6%
FCF margin32.9%29.2%37.4%41.3%
Return on assets0.7%0.9%0.7%0.6%
Return on equity17.6%18.1%17.8%17.6%
Debt / equity0.45×0.58×0.73×0.49×
Current ratio1.011.021.011.01

Computed from company filings · DE · as of 2025-12-31. Figures in EUR. Facts plus Stocktoria's own computed scores — not investment advice.