Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Euronext

DB:ENXB
Snowflake Description

Reasonable growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ENXB
DB
€5B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Euronext N.V., together with its subsidiaries, operates securities and derivatives exchanges in Continental Europe and Ireland. The last earnings update was 45 days ago. More info.


Add to Portfolio Compare Print
ENXB Share Price and Events
7 Day Returns
12.4%
DB:ENXB
12.3%
DE Capital Markets
7.2%
DE Market
1 Year Returns
21%
DB:ENXB
-8.8%
DE Capital Markets
-17.5%
DE Market
ENXB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Euronext (ENXB) 12.4% -12.4% -8.2% 21% 62.2% 70.4%
DE Capital Markets 12.3% -26.5% -16.8% -8.8% -29% -56.3%
DE Market 7.2% -22.3% -26.1% -17.5% -25.7% -29.1%
1 Year Return vs Industry and Market
  • ENXB outperformed the Capital Markets industry which returned -8.8% over the past year.
  • ENXB outperformed the Market in Germany which returned -17.5% over the past year.
Price Volatility
ENXB
Industry
5yr Volatility vs Market

Value

 Is Euronext undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Euronext to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Euronext.

DB:ENXB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 7 analysts.
= Stable Book Value * Return on Equity
= €17.25 * 27%
€4.66
Book Value of Equity per Share Weighted future Book Value estimates from 8 analysts. €17.25
Discount Rate (Cost of Equity) See below 4.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:ENXB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.754 (1 + (1- 25%) (22.98%))
0.922
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.922 * 5.44%)
4.63%

Discounted Cash Flow Calculation for DB:ENXB using Excess Returns Model Model

The calculations below outline how an intrinsic value for Euronext is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:ENXB Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (27% – 4.63%) * €17.25)
€3.87
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €3.87 / (4.63% - -0.39%)
€77.05
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €17.25 + €77.05
€94.3
DB:ENXB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:ENXB represents 0.98883x of ENXTPA:ENX
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98883x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 94.30 x 0.98883
€93.25
Value per share (EUR) From above. €93.25
Current discount Discount to share price of €66.35
= -1 x (€66.35 - €93.25) / €93.25
28.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Euronext is available for.
Intrinsic value
29%
Share price is €66.35 vs Future cash flow value of €93.25
Current Discount Checks
For Euronext to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Euronext's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Euronext's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Euronext's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Euronext's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:ENXB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €3.19
ENXTPA:ENX Share Price ** ENXTPA (2020-03-27) in EUR €67.1
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 21.49x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.49x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Euronext.

DB:ENXB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:ENX Share Price ÷ EPS (both in EUR)

= 67.1 ÷ 3.19

21.06x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Euronext is good value based on earnings compared to the DE Capital Markets industry average.
  • Euronext is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Euronext's expected growth come at a high price?
Raw Data
DB:ENXB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
14.8%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.49x
Germany Market PEG Ratio Median Figure of 252 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:ENXB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 21.06x ÷ 14.8%

1.43x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Euronext is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Euronext's assets?
Raw Data
DB:ENXB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €13.18
ENXTPA:ENX Share Price * ENXTPA (2020-03-27) in EUR €67.1
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.61x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.42x
DB:ENXB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:ENX Share Price ÷ Book Value per Share (both in EUR)

= 67.1 ÷ 13.18

5.09x

* Primary Listing of Euronext.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Euronext is overvalued based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Euronext's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Euronext has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Euronext expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
14.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Euronext expected to grow at an attractive rate?
  • Euronext's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Euronext's earnings growth is expected to exceed the Germany market average.
  • Euronext's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:ENXB Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:ENXB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 14.8%
DB:ENXB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 8.6%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 41.2%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:ENXB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:ENXB Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 890 395 350 8
2021-12-31 842 353 319 14
2020-12-31 810 309 281 10
2020-03-28
DB:ENXB Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 679 254 222
2019-09-30 651 230 223
2019-06-30 620 225 210
2019-03-31 617 208 212
2018-12-31 615 224 216
2018-09-30 597 216 272
2018-06-30 575 203 259
2018-03-31 552 231 255
2017-12-31 532 207 241
2017-09-30 569 194 198
2017-06-30 502 186 198
2017-03-31 497 184 193

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Euronext's earnings are expected to grow by 14.8% yearly, however this is not considered high growth (20% yearly).
  • Euronext's revenue is expected to grow by 8.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:ENXB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Euronext Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ENXB Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 4.75 5.41 4.22 7.00
2021-12-31 4.42 4.93 4.00 12.00
2020-12-31 4.04 4.51 3.78 12.00
2020-03-28
DB:ENXB Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 3.19
2019-09-30 3.19
2019-06-30 3.01
2019-03-31 3.05
2018-12-31 3.10
2018-09-30 3.91
2018-06-30 3.73
2018-03-31 3.66
2017-12-31 3.47
2017-09-30 2.84
2017-06-30 2.84
2017-03-31 2.77

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Euronext is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Euronext's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Euronext has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Euronext performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Euronext's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Euronext's year on year earnings growth rate has been positive over the past 5 years.
  • Euronext's 1-year earnings growth is less than its 5-year average (2.8% vs 9.7%)
  • Euronext's earnings growth has not exceeded the DE Capital Markets industry average in the past year (2.8% vs 5.1%).
Earnings and Revenue History
Euronext's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Euronext Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ENXB Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 679.10 222.00 251.50
2019-09-30 650.64 222.55 139.98
2019-06-30 619.84 209.55 130.28
2019-03-31 617.13 212.07 123.19
2018-12-31 615.03 215.97 118.49
2018-09-30 597.42 271.57 113.64
2018-06-30 575.22 259.37 109.24
2018-03-31 552.39 254.70 107.06
2017-12-31 532.29 241.30 104.36
2017-09-30 568.95 197.70 152.12
2017-06-30 501.55 197.50 99.72
2017-03-31 496.64 192.81 101.28
2016-12-31 496.44 197.01 99.78
2016-09-30 496.97 183.62 99.32
2016-06-30 517.15 193.25 103.22
2016-03-31 514.99 172.60 110.09
2015-12-31 518.55 172.65 112.22
2015-09-30 523.98 156.83 115.78
2015-06-30 513.62 158.66 119.18
2015-03-31 508.98 158.59 121.26
2014-12-31 492.50 118.17 123.99
2014-09-30 494.17 64.45 130.03
2014-06-30 481.29 38.15 127.39
2014-03-31 475.17 70.50 127.39
2013-12-31 481.67 87.52 132.72

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Euronext has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Euronext used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Euronext's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Euronext's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Euronext has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Euronext's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Euronext's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Euronext is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Euronext's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Euronext's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Euronext Company Filings, last reported 2 months ago.

DB:ENXB Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 933.80 1,018.30 381.90
2019-09-30 880.30 1,064.00 356.20
2019-06-30 840.39 1,107.32 371.87
2019-03-31 865.90 510.20 437.80
2018-12-31 802.32 508.69 419.54
2018-09-30 725.80 503.40 423.40
2018-06-30 720.53 501.79 360.27
2018-03-31 785.00 338.00 301.50
2017-12-31 729.48 164.89 187.79
2017-09-30 615.80 164.90 140.60
2017-06-30 576.15 0.15 81.16
2017-03-31 585.80 0.20 141.20
2016-12-31 548.02 69.10 174.50
2016-09-30 480.85 68.89 156.72
2016-06-30 444.31 108.68 152.83
2016-03-31 485.34 108.47 202.76
2015-12-31 447.17 108.26 158.64
2015-09-30 401.85 108.05 159.95
2015-06-30 370.26 107.85 128.38
2015-03-31 395.45 107.61 167.01
2014-12-31 341.75 248.50 256.64
2014-09-30 310.48 248.32 253.02
2014-06-30 262.22 248.19 196.53
2014-03-31 352.35 0.26 61.50
2013-12-31 233.68 447.03 80.83
  • Euronext's level of debt (109%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (72.1% vs 109% today).
  • Debt is well covered by operating cash flow (24.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 20.4x coverage).
X
Financial health checks
We assess Euronext's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Euronext has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Euronext's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.37%
Current annual income from Euronext dividends. Estimated to be 3.21% next year.
If you bought €2,000 of Euronext shares you are expected to receive €47 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Euronext's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.68%).
  • Euronext's dividend is below the markets top 25% of dividend payers in Germany (4.96%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:ENXB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:ENXB Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 2.37 9.00
2021-12-31 2.18 13.00
2020-12-31 1.97 13.00
2020-03-28
DB:ENXB Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-02-12 1.590 2.190
2019-05-16 1.540 2.184
2018-03-14 1.730 3.138
2017-04-07 1.420 2.852
2017-02-15 1.420 3.466
2016-04-11 1.240 3.305
2015-03-25 0.840 2.106

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Euronext has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Euronext only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Euronext's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Euronext's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Euronext afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Euronext has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Euronext's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Stéphane Boujnah
COMPENSATION €2,324,000
AGE 54
TENURE AS CEO 4.3 years
CEO Bio

Mr. Stéphane Boujnah has been the Chairman of Managing Board and Chief Executive Officer of Euronext N.V. since November 04, 2015. Mr. Boujnah serves as Non-Executive Chairman of Irish Stock Exchange Plc. Mr. Boujnah served as the Chief Executive Officer of Santander Global Banking and Markets for France and Benelux from May 2010 to 2014. He has been Head of Continental Europe of Santander Global Banking and Markets since July 2014. From 2000 to 2002, Mr. Boujnah served as Director of Mergers and Acquisitions at Crédit Suisse First Boston Technology Group in Palo Alto and later in London. From 2003 to 2005, he founded and developed KM5 Capital; an advisory company specialized in equity raising and M&A advice for venture capital funds and innovative technology companies. He served as Managing Director of KM5 Capital. He served as Managing Director in charge of business development for the Deutsche Bank’s investment bank in Paris from 2005 to 2010. He was employed at Deutsche Bank AG, Research Division. From 1991 to 1997, he was an attorney at Freshfields, specialized in mergers and acquisitions and in international investment projects. From 2000 to 2002, he was director of the European M&A team of Credit Suisse First Boston Technology Group in Palo Alto and London. From 1997 to 1999, Mr. Boujnah was senior adviser to the French Minister for Economy, Finance and Industry, Dominique Strauss-Kahn. He was in charge of innovation, new technologies, venture capital, foreign investments and on all matters related to State-controlled technology and telecom companies. He is founder and President of the board of directors of the French think tank En Temps Réel, www.entempsreel.com, where he published “L’inoxydable modèle suédois” in 2003. He serves as President of the board of directors of Accentus and Insula Orchestra. He serves as Board Member of the retail company Groupe FNAC. From 1991 to 1997, he was a Business Lawyer specialized in M&A transactions and structured financing in the international firm Freshfields. He advised in numerous technology deals and in several privatization programs in Eastern Europe, especially in the Czech Republic and in Slovakia, as well in various European investment projects in Cuba. He served as Chairman of Deutsch Securities Algeria. He served as a Director at LCH. Clearnet Group Ltd. since December 03, 2015 until October 31, 2017. Mr. Boujnah served as Independent Director at Groupe Fnac Société Anonyme. He was a member of the Commission pour la Liberation de la Croissance Française, chaired by Jacques Attali and established by the President Nicolas Sarkozy in 2007 and renewed in 2009. He was made knight of first class in the Royal Order of the Polar Star by the King of Sweden in March 2010. He was made Chevalier de la Légion d’Honneur by President François Hollande on 14 July 2013. Mr. Boujnah graduated from the Institut d'Etudes Politiques de Paris. He holds a Master degree in Business Law and a Diplôme d’Etudes Approfondies in International Economic Law of La Sorbonne Paris, LLM in International Business Law from the University of Kent in Canterbury and MBA from Insead.

CEO Compensation
  • Stéphane's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Stéphane's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Euronext management team in years:

3.3
Average Tenure
49
Average Age
  • The tenure for the Euronext management team is about average.
Management Team

Stéphane Boujnah

TITLE
Chairman of the Managing Board & CEO
COMPENSATION
€2M
AGE
54
TENURE
4.3 yrs

Anthony Attia

TITLE
Global Head of Listing and Post Trade
COMPENSATION
€980K
AGE
45
TENURE
6 yrs

Vincent Van Dessel

TITLE
Member of Managing Board & CEO of Euronext Brussels
COMPENSATION
€683K
AGE
60
TENURE
6 yrs

Maurice Van Tilburg

TITLE
Head of Market Ops. & Client Centricity
COMPENSATION
€817K
AGE
47
TENURE
4.8 yrs

Chris Topple

TITLE
CEO of Euronext London
COMPENSATION
€796K
AGE
51
TENURE
1.4 yrs

Daryl Byrne

TITLE
CEO of Euronext Dublin
COMPENSATION
€422K
AGE
45
TENURE
1.4 yrs

Giorgio Modica

TITLE
Chief Financial Officer
TENURE
3.8 yrs

Isabel Ucha

TITLE
Member of Managing Board
TENURE
1.2 yrs

Alain Courbebaisse

TITLE
Chief Information & Technology Officer
TENURE
2.8 yrs

Aurélie Cohen

TITLE
Head of Investor Relations
TENURE
2.5 yrs
Board of Directors Tenure

Average tenure and age of the Euronext board of directors in years:

2.1
Average Tenure
60.5
Average Age
  • The average tenure for the Euronext board of directors is less than 3 years, this suggests a new board.
Board of Directors

Dick Sluimers

TITLE
Independent Chairman of the Supervisory Board
AGE
66
TENURE
1.8 yrs

Lieve Mostrey

TITLE
Non-Independent Member of Supervisory Board
AGE
58
TENURE
5.3 yrs

Jim Gollan

TITLE
Independent Member of Supervisory Board
AGE
63
TENURE
4.7 yrs

Manuel da Silva

TITLE
Independent Member of Supervisory Board
AGE
62
TENURE
7.3 yrs

Kerstin Günther

TITLE
Independent Member of Supervisory Board
AGE
52
TENURE
3.7 yrs

Franck Silvent

TITLE
Supervisory Board Member
AGE
47
TENURE
2.3 yrs

Luc Keuleneer

TITLE
Member of the Supervisory Board
AGE
59
TENURE
1.8 yrs

Padraic O’Connor

TITLE
Member of the Supervisory Board
AGE
70
TENURE
1.8 yrs

Nathalie Rachou

TITLE
Independent Member of Supervisory Board
AGE
62
TENURE
0.4 yrs

Morten Thorsrud

TITLE
Independent Member of Supervisory Board
AGE
48
TENURE
0.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Euronext's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Euronext has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Euronext N.V., together with its subsidiaries, operates securities and derivatives exchanges in Continental Europe and Ireland. The company offers a range of exchange and corporate services, including security listings, cash and derivatives trading, and market data dissemination. It also provides listing venues and cash equities trading venues; and various marketplaces, including multilateral trading facilities for investors, broker-dealers, and other market participants to meet directly to buy and sell cash equities, fixed income securities, and exchange traded products. In addition, the company offers options contracts based on the blue-chip equities listed on Euronext; commodity derivatives, such as milling wheat futures contracts; and post-trade services, as well as distributes and sells real-time, historic, and reference data to data vendors, and financial institutions and individual investors. Further, it provides equity, debts, funds, and exchange traded funds listing services; and investors, foreign exchange trading, and advanced data services. Additionally, the company offers technology solutions and services to exchanges and venue operators; software support and maintenance services for the legacy trading platforms; software licensing services; trading software in the form of managed services; network connectivity and server colocation services to market participants; information technology hosting services to third-party market operators; connection services; and other services. The company was formerly known as Euronext Group N.V. and changed its name to Euronext N.V. in May 2014. Euronext N.V. was founded in 2000 and is headquartered in Amsterdam, the Netherlands.

Details
Name: Euronext N.V.
ENXB
Exchange: DB
Founded: 2000
€4,671,098,125
69,613,981
Website: http://www.euronext.com
Address: Euronext N.V.
Beursplein 5,
Amsterdam,
Noord-Holland, 1012 JW,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA ENX Ordinary Shares Euronext Paris FR EUR 20. Jun 2014
OTCPK EUXT.F Ordinary Shares Pink Sheets LLC US USD 20. Jun 2014
DB ENXB Ordinary Shares Deutsche Boerse AG DE EUR 20. Jun 2014
LSE 0QVJ Ordinary Shares London Stock Exchange GB EUR 20. Jun 2014
BATS-CHIXE ENXP Ordinary Shares BATS 'Chi-X Europe' GB EUR 20. Jun 2014
Number of employees
Current staff
Staff numbers
809
Euronext employees.
Industry
Financial Exchanges and Data
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 23:25
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/24
Last earnings filing: 2020/02/12
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.