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.

Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros

DB:M6O
Snowflake Description

Adequate balance sheet with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
M6O
DB
€3B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A., together with its subsidiaries, operates stock markets and financial systems in Spain. The last earnings update was 31 days ago. More info.


Add to Portfolio Compare Print
M6O Share Price and Events
7 Day Returns
-0.8%
DB:M6O
3%
DE Capital Markets
2.2%
DE Market
1 Year Returns
33.2%
DB:M6O
-6.9%
DE Capital Markets
-17.2%
DE Market
M6O Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros (M6O) -0.8% -3.3% -3.3% 33.2% 1.4% -21.6%
DE Capital Markets 3% -17.7% -13.1% -6.9% -24.7% -54.9%
DE Market 2.2% -15.7% -24% -17.2% -23.3% -27.8%
1 Year Return vs Industry and Market
  • M6O outperformed the Capital Markets industry which returned -6.9% over the past year.
  • M6O outperformed the Market in Germany which returned -17.2% over the past year.
Price Volatility
M6O
Industry
5yr Volatility vs Market

M6O Value

 Is Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros 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 Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros 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 Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros.

DB:M6O Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= €5.17 * 33.7%
€1.74
Book Value of Equity per Share Median Book Value from the past 5 years. €5.17
Discount Rate (Cost of Equity) See below 5.9%
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:M6O
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 7.5%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.753 (1 + (1- 25%) (0.82%))
0.837
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.837 * 7.46%)
5.86%

Discounted Cash Flow Calculation for DB:M6O using Excess Returns Model Model

The calculations below outline how an intrinsic value for Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros 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:M6O Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (33.7% – 5.86%) * €5.17)
€1.44
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €1.44 / (5.86% - -0.39%)
€23.02
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €5.17 + €23.02
€28.2
DB:M6O Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:M6O represents 0.99759x of BME:BME
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99759x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 28.20 x 0.99759
€28.13
Value per share (EUR) From above. €28.13
Current discount Discount to share price of €33.04
= -1 x (€33.04 - €28.13) / €28.13
-17.5%

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

  • The current share price of Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:M6O PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €1.48
BME:BME Share Price ** BME (2020-04-01) in EUR €33.12
Germany Capital Markets Industry PE Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 22.55x
Germany Market PE Ratio Median Figure of 398 Publicly-Listed Companies 16.76x

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

** Primary Listing of Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros.

DB:M6O PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BME:BME Share Price ÷ EPS (both in EUR)

= 33.12 ÷ 1.48

22.37x

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

  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros is good value based on earnings compared to the DE Capital Markets industry average.
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's expected growth come at a high price?
Raw Data
DB:M6O PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 22.37x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
2.1%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 6 Publicly-Listed Capital Markets Companies 1.59x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

DB:M6O PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 22.37x ÷ 2.1%

10.53x

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

  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's assets?
Raw Data
DB:M6O PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €4.62
BME:BME Share Price * BME (2020-04-01) in EUR €33.12
Germany Capital Markets Industry PB Ratio Median Figure of 31 Publicly-Listed Capital Markets Companies 1.5x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.44x
DB:M6O PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 33.12 ÷ 4.62

7.17x

* Primary Listing of Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros.

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

  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros is overvalued based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros'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. Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros has a total score of 1/6, 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.

M6O Future Performance

 How is Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros expected to perform in the next 1 to 3 years based on estimates from 6 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
2.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros expected to grow at an attractive rate?
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's earnings growth is positive but not above the Germany market average.
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:M6O Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:M6O Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 2.1%
DB:M6O Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 0.8%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 39.4%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*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:M6O Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:M6O Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 306 136 132 3
2021-12-31 296 134 127 6
2020-12-31 296 132 127 3
2020-04-02
DB:M6O Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 295 111 123
2019-09-30 298 117 127
2019-06-30 299 122 128
2019-03-31 304 119 130
2018-12-31 311 131 136
2018-09-30 312 132 139
2018-06-30 317 138 145
2018-03-31 322 149 152
2017-12-31 323 152 153
2017-09-30 324 151 156
2017-06-30 321 158 155
2017-03-31 323 156 157

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's earnings are expected to grow by 2.1% yearly, however this is not considered high growth (20% yearly).
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's revenue is expected to grow by 0.8% 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:M6O Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:M6O 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 1.59 1.67 1.54 3.00
2021-12-31 1.52 1.64 1.42 5.00
2020-12-31 1.51 1.57 1.49 4.00
2020-04-02
DB:M6O Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 1.48
2019-09-30 1.54
2019-06-30 1.54
2019-03-31 1.57
2018-12-31 1.64
2018-09-30 1.67
2018-06-30 1.74
2018-03-31 1.83
2017-12-31 1.84
2017-09-30 1.87
2017-06-30 1.86
2017-03-31 1.88

*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.
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros'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.
Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros has a total score of 2/6, 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.

M6O Past Performance

  How has Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros 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 Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros'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.
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros'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 Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:M6O Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 294.88 122.76 73.57
2019-09-30 298.45 127.23 75.41
2019-06-30 299.35 127.79 76.09
2019-03-31 303.75 130.04 78.86
2018-12-31 310.57 136.29 78.75
2018-09-30 312.30 139.08 78.87
2018-06-30 316.51 144.93 75.93
2018-03-31 322.15 151.90 73.81
2017-12-31 322.61 153.32 73.29
2017-09-30 324.36 155.51 72.81
2017-06-30 321.49 154.59 72.36
2017-03-31 322.85 156.72 73.24
2016-12-31 323.20 160.26 72.28
2016-09-30 322.63 162.04 70.53
2016-06-30 330.86 167.88 69.09
2016-03-31 334.06 169.29 67.15
2015-12-31 344.90 173.46 66.83
2015-09-30 355.67 175.16 67.80
2015-06-30 352.24 172.74 67.59
2015-03-31 347.52 169.77 67.90
2014-12-31 340.53 164.92 66.66
2014-09-30 328.66 160.21 66.91
2014-06-30 321.69 154.84 66.64
2014-03-31 317.02 152.34 68.02
2013-12-31 304.03 143.14 67.90
2013-09-30 289.68 135.55 67.19
2013-06-30 287.65 133.46 69.28

*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.
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros used its assets less efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros'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.
Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros has a total score of 1/6, 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.

M6O Health

 How is Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros'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 Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros'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 -3.5713370530562E+18x 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 Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros Company Filings, last reported 3 months ago.

DB:M6O Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 383.65 0.00 258.66
2019-09-30 404.09 0.00 294.95
2019-06-30 406.90 0.00 302.33
2019-03-31 427.36 0.00 315.31
2018-12-31 399.62 0.00 276.58
2018-09-30 434.71 0.00 311.70
2018-06-30 435.79 0.00 315.97
2018-03-31 468.50 0.00 343.10
2017-12-31 430.43 0.00 291.96
2017-09-30 442.65 0.00 321.69
2017-06-30 439.75 0.00 321.28
2017-03-31 465.61 0.00 338.18
2016-12-31 424.05 0.00 283.44
2016-09-30 435.63 0.00 316.22
2016-06-30 437.32 0.00 315.74
2016-03-31 478.47 0.00 350.39
2015-12-31 433.08 0.00 322.26
2015-09-30 444.20 0.00 336.24
2015-06-30 436.82 0.00 336.86
2015-03-31 467.00 0.00 352.10
2014-12-31 418.93 0.00 289.99
2014-09-30 427.47 0.00 315.03
2014-06-30 421.27 0.00 306.41
2014-03-31 433.97 0.00 315.58
2013-12-31 392.31 0.00 261.41
2013-09-30 403.77 0.00 296.52
2013-06-30 403.96 0.00 292.43
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's level of debt (0%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's debt level has increased without past 5-year debt data.
  • Operating cash flow is negative therefore debt is not well covered.
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros'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. Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros has a total score of 4/6, 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.

M6O Dividends

 What is Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros'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
4.29%
Current annual income from Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros dividends. Estimated to be 4.48% next year.
If you bought €2,000 of Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros shares you are expected to receive €86 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?
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's dividend is below the markets top 25% of dividend payers in Germany (4.87%).
Upcoming dividend payment

Purchase Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:M6O 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 6 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 322 Stocks 3.8%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:M6O Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 1.58 1.00
2023-12-31 1.56 1.00
2022-12-31 1.55 5.00
2021-12-31 1.41 7.00
2020-12-31 1.48 4.00
2020-04-02
DB:M6O Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-03-02 1.420 4.358
2020-02-28 1.420 4.135
2019-03-01 1.570 6.092
2018-02-28 1.780 6.537
2017-02-28 1.800 6.079
2016-03-01 1.930 6.935
2015-04-13 1.890 5.599
2015-02-24 1.890 4.726
2014-03-04 1.650 5.132
2014-02-21 1.650 5.459
2013-02-28 1.742 7.701
2013-02-22 1.600 7.936
2012-04-02 1.972 11.440
2012-02-29 1.972 10.007
2010-12-17 1.972 9.622
2010-07-30 1.000 5.104
2010-03-01 1.600 8.194
2010-02-26 1.600 8.275
2009-09-09 0.656 2.874
2009-07-31 0.800 3.360
2009-04-30 1.972 8.944

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros'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 Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros has a total score of 1/6, see the detailed checks below.


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

M6O Management

 What is the CEO of Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros'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
Javier Hernani Burzako
COMPENSATION €752,000
TENURE AS CEO 3 years
CEO Bio

Mr. Javier Hernani Burzako has been Chief Executive Officer and Director at Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas since April 27, 2017. He served as the Chief Financial Officer and General Manager at Bolsas Y Mercados Españoles SA. He worked as European Financial Sector consultant at Coopers & Lybrand Brussels. He has also worked as CFO at Norbolsa. After that, he joined the Bilbao Stock Exchange as Deputy General Manager. He holds a Degree in Economics and Business Management from Universidad Comercial de Deusto and a Master’s Degree in European Studies from Brugges European School.

CEO Compensation
  • Javier's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Javier's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros management team in years:

2.3
Average Tenure
  • The tenure for the Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros management team is about average.
Management Team

Antonio Jose Zoido Martínez

TITLE
Executive Chairman
COMPENSATION
€818K
TENURE
1.3 yrs

Javier Hernani Burzako

TITLE
CEO & Director
COMPENSATION
€752K
TENURE
3 yrs

Joan Hortalá I Arau

TITLE
Executive Director
COMPENSATION
€413K

Marta Bartolomé Yllera

TITLE
Finance Director & CFO
TENURE
2.9 yrs

Francisco Béjar

TITLE
Chief Operating Officer
TENURE
2.3 yrs

Francisco Nicolás Tahoces

TITLE
Technology Director

Brian Warren

TITLE
Head of Investor Relations

Ignacio Olivares Blanco

TITLE
Head of Legal Affairs
TENURE
1.3 yrs

Pablo Malumbres Muguerza

TITLE
Corporate Communications & Public Affairs

Luis García Berral

TITLE
Director of Human Resources
Board of Directors Tenure

Average tenure and age of the Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros board of directors in years:

3.5
Average Tenure
63.5
Average Age
  • The tenure for the Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros board of directors is about average.
Board of Directors

Antonio Jose Zoido Martínez

TITLE
Executive Chairman
COMPENSATION
€818K

Javier Hernani Burzako

TITLE
CEO & Director
COMPENSATION
€752K
TENURE
3 yrs

Ignacio Garralda Ruiz de Velasco

TITLE
First Deputy Chairman
COMPENSATION
€76K
AGE
68

Joan Hortalá I Arau

TITLE
Executive Director
COMPENSATION
€413K
TENURE
18.2 yrs

Ana Isabel Fernández Álvarez

TITLE
Independent Director
COMPENSATION
€91K
TENURE
2 yrs

David María Jiménez-Blanco de Albornoz

TITLE
Lead independent Director
COMPENSATION
€111K
TENURE
1.9 yrs

Juan Carlos Ureta Domingo

TITLE
Independent Director
COMPENSATION
€84K
AGE
63
TENURE
2 yrs

Juan March Juan

TITLE
External Proprietary Director
COMPENSATION
€87K
TENURE
5.5 yrs

Santos Martínez-Conde Gutiérrez-Barquín

TITLE
External Proprietary Director
COMPENSATION
€79K
AGE
64
TENURE
5.5 yrs

Maria Helena dos Santos Fernandes de Santana

TITLE
External Independent Director
COMPENSATION
€63K
AGE
60
TENURE
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 (€)
28. Jun 19 Buy Antonio Jose Zoido Martínez Individual 24. Jun 19 24. Jun 19 8,861 €22.76 €201,676
28. Jun 19 Buy Joan Hortalá I Arau Individual 24. Jun 19 24. Jun 19 838 €22.76 €19,073
28. Jun 19 Buy Javier Hernani Burzako Individual 24. Jun 19 24. Jun 19 3,040 €22.76 €69,190
X
Management checks
We assess Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros'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. Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros 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.

M6O News

Simply Wall St News

M6O Company Info

Description

Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A., together with its subsidiaries, operates stock markets and financial systems in Spain. The company operates through six segments: Equities, Settlement and Registration, Clearing, Market Data and Value-Added Services, Derivatives, and Fixed Income. The Equities segment is involved in the trading of securities through the electronic trading platform; and the provision of listing and maintenance services for issuers on the equity market. The Settlement and Registration segment engages in the registration and settlement of equity, private fixed-income, and public debt trades. The Clearing segment is involved in the clearing, central counterparty, and settlement of financial derivatives, government debt repos, over the counter interest rate derivatives, and electricity derivatives, as well as derivatives on equity spot trades from the Spanish electronic trading platform. The Market Data and Value-Added Services segment provides primary information services; index licenses and other related services; and technological, financial and consultancy innovation, global access, algorithmic trading, and regulatory compliance services. The Derivatives segment is involved in the trading of financial derivatives and electricity derivatives. The Fixed Income segment engages in the trading of private fixed-income and public debt securities; and the provision of listing and maintenance services for issuers on the private fixed-income market. Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A. was incorporated in 2002 and is headquartered in Madrid, Spain.

Details
Name: Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A.
M6O
Exchange: DB
Founded: 2002
€2,744,041,779
82,851,503
Website: http://www.bolsasymercados.es
Address: Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A.
Plaza de la Lealtad, 1,
Madrid,
Madrid, 28014,
Spain
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BME BME Common Stock Bolsas y Mercados Espanoles ES EUR 14. Jul 2006
OTCPK SOHM.F Common Stock Pink Sheets LLC US USD 14. Jul 2006
DB M6O Common Stock Deutsche Boerse AG DE EUR 14. Jul 2006
LSE 0N73 Common Stock London Stock Exchange GB EUR 14. Jul 2006
BMV BME N Common Stock Bolsa Mexicana de Valores MX MXN 14. Jul 2006
BATS-CHIXE BMEE Common Stock BATS 'Chi-X Europe' GB EUR 14. Jul 2006
OTCPK BOLY.Y ADR Pink Sheets LLC US USD 13. Feb 2009
Number of employees
Current staff
Staff numbers
796
Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros employees.
Industry
Financial Exchanges and Data
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/02 01:32
End of day share price update: 2020/04/01 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2020/03/02
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.