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Deutsche Börse

OTCPK:DBOE.Y
Snowflake Description

Flawless balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DBOE.Y
OTCPK
€27B
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Deutsche Börse AG operates as an exchange organization in Europe, the United States, and the Asia-Pacific. The last earnings update was 93 days ago. More info.


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DBOE.Y Share Price and Events
7 Day Returns
-1.5%
OTCPK:DBOE.Y
-3.6%
US Capital Markets
-2.7%
US Market
1 Year Returns
23.2%
OTCPK:DBOE.Y
16.4%
US Capital Markets
21.2%
US Market
DBOE.Y Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Deutsche Börse (DBOE.Y) -1.5% 5% 5.7% 23.2% 83.8% 111.7%
US Capital Markets -3.6% 0.6% 8.1% 16.4% 33.7% 73.5%
US Market -2.7% 0.1% 6.9% 21.2% 38.6% 53.4%
1 Year Return vs Industry and Market
  • DBOE.Y outperformed the Capital Markets industry which returned 16.4% over the past year.
  • DBOE.Y outperformed the Market in United States of America which returned 21.2% over the past year.
Price Volatility
DBOE.Y
Industry
5yr Volatility vs Market

Value

 Is Deutsche Börse 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 Deutsche Börse 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 Deutsche Börse.

OTCPK:DBOE.Y Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 8 analysts.
= Stable Book Value * Return on Equity
= €35.06 * 20.5%
€7.18
Book Value of Equity per Share Weighted future Book Value estimates from 10 analysts. €35.06
Discount Rate (Cost of Equity) See below 6.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

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 OTCPK:DBOE.Y
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.79
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.786 (1 + (1- 30%) (8.45%))
0.888
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (0.888 * 5.44%)
6.57%

Discounted Cash Flow Calculation for OTCPK:DBOE.Y using Excess Returns Model Model

The calculations below outline how an intrinsic value for Deutsche Börse 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.

OTCPK:DBOE.Y Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (20.5% – 6.57%) * €35.06)
€4.87
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €4.87 / (6.57% - 1.74%)
€100.91
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €35.06 + €100.91
€135.97
OTCPK:DBOE.Y Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:DBOE.Y represents 0.10987x of XTRA:DB1
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.10987x
Value per Share
(Listing Adjusted, USD)
= Value per Share (EUR) x Listing Adjustment Factor
= € 135.97 x 0.10987
$14.94
Value per share (USD) From above. $14.94
Current discount Discount to share price of $16.37
= -1 x ($16.37 - $14.94) / $14.94
-9.5%

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

  • The current share price of Deutsche Börse 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 Deutsche Börse's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Deutsche Börse's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:DBOE.Y PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in EUR €5.07
XTRA:DB1 Share Price ** XTRA (2020-01-28) in EUR €148.95
United States of America Capital Markets Industry PE Ratio Median Figure of 82 Publicly-Listed Capital Markets Companies 37.09x
United States of America Market PE Ratio Median Figure of 2,920 Publicly-Listed Companies 18.34x

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

** Primary Listing of Deutsche Börse.

OTCPK:DBOE.Y PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:DB1 Share Price ÷ EPS (both in EUR)

= 148.95 ÷ 5.07

29.35x

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

  • Deutsche Börse is good value based on earnings compared to the US Capital Markets industry average.
  • Deutsche Börse is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Deutsche Börse's expected growth come at a high price?
Raw Data
OTCPK:DBOE.Y PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 29.35x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
9.4%per year
United States of America Capital Markets Industry PEG Ratio Median Figure of 39 Publicly-Listed Capital Markets Companies 2.65x
United States of America Market PEG Ratio Median Figure of 2,029 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

OTCPK:DBOE.Y PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 29.35x ÷ 9.4%

3.13x

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

  • Deutsche Börse is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Deutsche Börse's assets?
Raw Data
OTCPK:DBOE.Y PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in EUR €30.04
XTRA:DB1 Share Price * XTRA (2020-01-28) in EUR €148.95
United States of America Capital Markets Industry PB Ratio Median Figure of 153 Publicly-Listed Capital Markets Companies 6.64x
United States of America Market PB Ratio Median Figure of 5,101 Publicly-Listed Companies 1.82x
OTCPK:DBOE.Y PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:DB1 Share Price ÷ Book Value per Share (both in EUR)

= 148.95 ÷ 30.04

4.96x

* Primary Listing of Deutsche Börse.

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

  • Deutsche Börse is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Deutsche Börse'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. Deutsche Börse 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 Deutsche Börse expected to perform in the next 1 to 3 years based on estimates from 15 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
9.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Deutsche Börse expected to grow at an attractive rate?
  • Deutsche Börse's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Deutsche Börse's earnings growth is positive but not above the United States of America market average.
  • Deutsche Börse's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:DBOE.Y Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:DBOE.Y Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts 9.4%
OTCPK:DBOE.Y Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 6%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 8.4%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 5.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.6%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.6%

*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
OTCPK:DBOE.Y Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:DBOE.Y 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 3,529 1,827 1,324 4
2021-12-31 3,319 1,603 1,248 7
2020-12-31 3,135 1,461 1,160 8
2020-01-29
2019-12-31 2,928 1,327 1,024 8
OTCPK:DBOE.Y Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-09-30 3,023 931
2019-06-30 2,938 999 907
2019-03-31 2,910 851
2018-12-31 2,894 1,298 824
2018-09-30 2,723 898
2018-06-30 2,702 927 877
2018-03-31 2,682 843
2018-01-01 2,645 1,056 874
2017-09-30 2,917 831
2017-06-30 2,878 986 796
2017-03-31 2,813 804
2016-12-31 2,825 1,621 722

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Deutsche Börse's earnings are expected to grow by 9.4% yearly, however this is not considered high growth (20% yearly).
  • Deutsche Börse's revenue is expected to grow by 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
OTCPK:DBOE.Y 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 15 Analyst Estimates (S&P Global) See Below

All data from Deutsche Börse Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:DBOE.Y 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 7.38 8.25 6.69 3.00
2021-12-31 7.01 8.25 6.13 9.00
2020-12-31 6.39 6.93 5.65 13.00
2020-01-29
2019-12-31 5.57 5.83 5.23 13.00
OTCPK:DBOE.Y Past Financials Data
Date (Data in EUR Millions) EPS *
2019-09-30 5.07
2019-06-30 4.94
2019-03-31 4.62
2018-12-31 4.46
2018-09-30 4.84
2018-06-30 4.71
2018-03-31 4.52
2018-01-01 4.68
2017-09-30 4.44
2017-06-30 4.26
2017-03-31 4.30
2016-12-31 3.87

*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.
  • Deutsche Börse is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Deutsche Börse'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
Deutsche Börse has a total score of 1/6, 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 Deutsche Börse 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 Deutsche Börse'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.
  • Deutsche Börse's year on year earnings growth rate has been positive over the past 5 years.
  • Deutsche Börse's 1-year earnings growth is less than its 5-year average (3.7% vs 6.6%)
  • Deutsche Börse's earnings growth has not exceeded the US Capital Markets industry average in the past year (3.7% vs 9.8%).
Earnings and Revenue History
Deutsche Börse'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 Deutsche Börse Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:DBOE.Y Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 3,022.50 930.70 780.60
2019-06-30 2,937.90 907.10 734.90
2019-03-31 2,909.70 850.50 785.00
2018-12-31 2,894.40 824.30 770.90
2018-09-30 2,722.90 897.90 798.70
2018-06-30 2,702.40 877.20 784.90
2018-03-31 2,682.20 843.20 744.40
2018-01-01 2,645.30 874.30 722.20
2017-09-30 2,916.90 830.70 709.40
2017-06-30 2,877.60 796.40 738.10
2017-03-31 2,813.10 803.60 652.70
2016-12-31 2,824.90 722.10 662.00
2016-09-30 2,730.70 640.80 654.70
2016-06-30 2,723.60 626.60 657.70
2016-03-31 2,671.60 611.30 644.50
2015-12-31 2,617.00 613.30 628.40
2015-09-30 2,485.70 748.60 551.20
2015-06-30 2,450.30 742.20 549.40
2015-03-31 2,443.80 733.30 573.20
2014-12-31 2,394.00 762.30 557.90
2014-09-30 2,301.00 662.90 486.00
2014-06-30 2,251.80 575.10 473.90
2014-03-31 2,250.00 586.80 468.20
2013-12-31 2,199.20 478.40 526.80
2013-09-30 2,130.50 506.50 573.20
2013-06-30 2,156.90 604.80 613.50
2013-03-31 2,168.20 620.00 587.60

*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.
  • Deutsche Börse has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Deutsche Börse used its assets less efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Deutsche Börse has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Deutsche Börse'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.
Deutsche Börse 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 Deutsche Börse'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 Deutsche Börse's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Deutsche Börse is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Deutsche Börse's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Deutsche Börse'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 covered by short term assets, assets are 76.3x 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 Deutsche Börse Company Filings, last reported 3 months ago.

OTCPK:DBOE.Y Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 5,875.40 2,285.50 915.40
2019-06-30 4,973.70 2,284.70 943.90
2019-03-31 5,225.70 2,283.90 1,102.40
2018-12-31 4,963.40 2,685.40 1,918.70
2018-09-30 4,938.20 2,282.40 1,000.30
2018-06-30 4,808.10 2,282.70 1,042.60
2018-03-31 5,033.30 2,282.50 1,065.60
2018-01-01 4,947.40 2,570.10 1,555.00
2017-09-30 4,839.00 1,689.20 1,447.50
2017-06-30 4,586.40 2,300.60 1,767.10
2017-03-31 4,883.10 2,303.80 1,697.00
2016-12-31 4,623.20 2,971.70 2,115.70
2016-09-30 4,430.30 2,289.10 1,118.60
2016-06-30 4,260.90 2,562.30 1,498.30
2016-03-31 3,954.00 2,582.80 706.40
2015-12-31 3,695.10 3,468.30 798.50
2015-09-30 3,584.40 2,058.60 899.50
2015-06-30 3,877.40 1,831.70 838.40
2015-03-31 4,099.00 1,461.60 929.60
2014-12-31 3,752.10 1,977.30 1,516.80
2014-09-30 3,508.90 1,553.10 707.00
2014-06-30 3,318.30 1,526.70 666.80
2014-03-31 3,561.00 1,524.00 792.00
2013-12-31 3,268.00 1,855.00 974.10
2013-09-30 3,140.20 1,528.10 731.90
2013-06-30 3,078.00 1,539.30 682.20
2013-03-31 3,312.80 1,545.30 1,270.10
  • Deutsche Börse's level of debt (32.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (44.4% vs 32.8% today).
  • Debt is well covered by operating cash flow (51.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 24.6x coverage).
X
Financial health checks
We assess Deutsche Börse'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. Deutsche Börse has a total score of 6/6, 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 Deutsche Börse'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
1.81%
Current annual income from Deutsche Börse dividends. Estimated to be 2.24% next year.
If you bought $2,000 of Deutsche Börse shares you are expected to receive $36 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?
  • Deutsche Börse's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.42%).
  • Deutsche Börse's dividend is below the markets top 25% of dividend payers in United States of America (3.74%).
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
OTCPK:DBOE.Y 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 15 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 1.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1962 Stocks 2.3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

OTCPK:DBOE.Y Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 3.63 4.00
2021-12-31 3.42 14.00
2020-12-31 3.20 18.00
2020-01-29
2019-12-31 2.98 18.00
OTCPK:DBOE.Y Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-18 2.700 2.070
2018-05-17 2.450 2.161
2017-11-27 2.350 2.237
2016-03-16 2.250 2.841
2015-03-17 2.100 2.708
2015-02-18 2.100 2.914
2014-03-17 2.100 3.732
2013-03-13 2.100 3.936
2012-07-30 2.300 5.201
2012-07-26 2.300 5.644
2012-04-27 2.300 5.583
2011-05-11 2.100 4.563
2011-05-04 2.100 3.737
2011-05-03 2.100 3.781
2011-05-02 2.100 3.751
2011-04-26 2.100 3.771
2011-04-07 2.100 3.883
2011-03-23 2.100 3.955
2010-03-01 2.100 4.008
2009-02-25 2.100 4.018

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Deutsche Börse's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x 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 Deutsche Börse's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Deutsche Börse afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Deutsche Börse has a total score of 5/6, 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 Deutsche Börse'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
Theodor Weimer
COMPENSATION €5,700,700
AGE 60
TENURE AS CEO 2 years
CEO Bio

Dr. Theodor Weimer has been Chief Executive Officer of Deutsche Börse AG since January 1, 2018 and serves as its Member of Executive Board and has been its Chairman of Executive Board since January 01, 2018. Dr. Weimer was Country Chairman of Germany of UniCredit SpA since January 1, 2009 until 2018. Dr. Weimer has been a Member of the Management Board and Spokesman of Board of Management at Unicredit Bank AG since January 1, 2009 and a Member of Executive Management Committee since March 2013. He has been Country Chairman Germany and Member of Business Executive Management Committee of UniCredit since January 2009. He served as Head of Markets & Investment Banking Division at Unicredit Bank AG. Dr. Weimer served as the Chief Executive Officer of Unicredit Bank AG since January 1, 2009. Dr. Weimer served as Executive Chairman of Global Investment Banking in the Markets & Investment Banking Division of UniCredit S.p.A since April 2008 and also served as its Senior Executive Vice President. Since June 2007, he served as the Head of Global Investment Banking in the Markets & Investment Banking Division at UniCredit Group in Munich. In 2001, he joined Goldman Sachs in Frankfurt and served as its Managing Director in the Investment Banking Division from 2001 to 2004 and Partner, Investment Banking Division from 2004 to 2007. He was Senior Partner and Member of the Global Management Committee at Bain & Company, Inc. from 1995 to 2001. He started his professional career in 1988 at McKinsey & Company in Düsseldorf and served as its Management Consultant from 1988 to 1995. He served as an Executive Manager of HypoVereinsbank, with responsibility for the Investment Banking and Corporate Divisions. He served as Chairman of Supervisory Board at DAB Bank AG since May 14, 2009. He served as President and Member of Supervisory Board of UniCredit Luxembourg SA since September 2012 until June 30, 2014. He served as the Chairman of HVB Consult GmbH, Munich. Dr. Weimer served as the Chairman of UniCredit Luxembourg SA and served as its Vice Chairman. He was a Member of Supervisory Board of ERGO Group AG since May 12, 2010 until 2016. He serves as a Member of Supervisory Board of the Bayerische Börse AG. He holds various board positions in German non-profit organisations. He served as a Director of AI Beteiligungs GmbH, Vienna, Austria. He served as a Director of Bain & Company since Munich in 1995. He served as a Member of the Supervisory Board of UniCredit CA IB AG, Vienna, Austria and UniCredit CA IB Polska S.A., Warsaw, Poland. Dr. Weimer serves as the President of the Bavarian Banking Association, board member of the Association of German Banks (BdB). Dr. Weimer graduated from the universities of Tübingen and St.Gallen in 1984 in Business Administration and Economics and was awarded his Doctorate in Mathematical Organizational Theory (Dr.rer.pol.) and Political Science at the University of Bonn in 1987, where he was Assistant at the research chair of Prof. Dr. Albach.

CEO Compensation
  • Insufficient data for Theodor to compare compensation growth.
  • Theodor's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Deutsche Börse management team in years:

4
Average Tenure
53
Average Age
  • The tenure for the Deutsche Börse management team is about average.
Management Team

Theodor Weimer

TITLE
CEO & Chairman of Executive Board
COMPENSATION
€6M
AGE
60
TENURE
2 yrs

Gregor Pottmeyer

TITLE
CFO & Member of Executive Board
COMPENSATION
€3M
AGE
57
TENURE
10.3 yrs

Hauke Stars

TITLE
Human Resources/Labour Director & Member of Executive Board
COMPENSATION
€2M
AGE
52
TENURE
7.1 yrs

Thomas Book

TITLE
Head of Derivatives Markets Trading & Member of the Executive Board
COMPENSATION
€2M
AGE
48
TENURE
1.5 yrs

Stephan Leithner

TITLE
Member of the Executive Board
COMPENSATION
€2M
AGE
53
TENURE
1.5 yrs

Christoph Böhm

TITLE
Chief Information Officer
COMPENSATION
€1M
AGE
53
TENURE
1.2 yrs

Richard Green

TITLE
Interim Chief Technology Officer
TENURE
6.3 yrs

Jan Strecker

TITLE
Head of Investor Relations

Jim Freis

TITLE
Chief Compliance Officer
AGE
48
TENURE
5.8 yrs

Sabine Roeckl-Schmidt

TITLE
Head of Human Resources
AGE
53
TENURE
4 yrs
Board of Directors Tenure

Average tenure and age of the Deutsche Börse board of directors in years:

1.7
Average Tenure
59
Average Age
  • The average tenure for the Deutsche Börse board of directors is less than 3 years, this suggests a new board.
Board of Directors

Joachim Faber

TITLE
Chairman of Supervisory Board
AGE
69
TENURE
7.7 yrs

Jutta Stuhlfauth

TITLE
Deputy Chairperson of Supervisory Board
AGE
58
TENURE
1.7 yrs

Barbara Lambert

TITLE
Supervisory Board Member
AGE
57
TENURE
1.7 yrs

Joachim Nagel

TITLE
Supervisory Board Member
AGE
53
TENURE
1.7 yrs

Karl-Heinz Flöther

TITLE
Member of Supervisory Board
AGE
67
TENURE
7.7 yrs

Amy Yip

TITLE
Member of Supervisory Board
AGE
68
TENURE
4.7 yrs

Martin Jetter

TITLE
Supervisory Board Member
AGE
60
TENURE
1.7 yrs

Nadine Absenger

TITLE
Employee Representative Member of the Supervisory Board
AGE
44
TENURE
1.7 yrs

Gerd Tausendfreund

TITLE
Employee Representative Member of the Supervisory Board
AGE
62
TENURE
1.7 yrs

Markus Beck

TITLE
Employee Representative Member of Supervisory Board
AGE
55
TENURE
1.4 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 Deutsche Börse'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. Deutsche Börse 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

Deutsche Börse AG operates as an exchange organization in Europe, the United States, and the Asia-Pacific. The company operates through nine segments: Eurex (Financial Derivatives), EEX (Commodities), 360T (Foreign Exchange), Xetra (Cash Equities), Clearstream (Post-Trading), IFS (Investment Fund Services) and GSF (Collateral Management), STOXX (Index Business), and Data. The company engages in the electronic trading of European derivatives, power and gas products, and foreign exchange; operating Eurex Repo over the counter (OTC) trading platform and electronic clearing architecture; and operating as a central counterparty for on-and-off exchange derivatives, repo transactions, and traded spot and derivative products. It also operates in the cash market through Xetra, Börse Frankfurt, and Tradegate trading venues; operates as a central counterparty for equities and bonds; and provides admission of securities to listing services. In addition, the company offers custody and settlement services for securities; investment and hedge funds services; global securities financing services; collateral management services; and repos and securities lending services. Further, it develops and sells indices; distributes licenses for trading and market signals; provides technology and reporting solutions for external customers; and trades in participant connectivity. Deutsche Börse AG was founded in 1992 and is headquartered in Frankfurt, Germany.

Details
Name: Deutsche Börse AG
DBOE.Y
Exchange: OTCPK
Founded: 1992
€29,783,223,250
183,300,000
Website: http://www.deutsche-boerse.com
Address: Deutsche Börse AG
Frankfurt,
Hessen, 60485,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA DB1 Ordinary Shares XETRA Trading Platform DE EUR 05. Feb 2001
OTCPK DBOE.F Ordinary Shares Pink Sheets LLC US USD 05. Feb 2001
DB DB1 Ordinary Shares Deutsche Boerse AG DE EUR 05. Feb 2001
LSE 0H3T Ordinary Shares London Stock Exchange GB EUR 05. Feb 2001
SWX DB1 Ordinary Shares SIX Swiss Exchange CH CHF 05. Feb 2001
BIT DB1 Ordinary Shares Borsa Italiana IT EUR 05. Feb 2001
WBAG DBO Ordinary Shares Wiener Boerse AG AT EUR 05. Feb 2001
BMV DB1 N Ordinary Shares Bolsa Mexicana de Valores MX MXN 05. Feb 2001
BATS-CHIXE DB1D Ordinary Shares BATS 'Chi-X Europe' GB EUR 05. Feb 2001
DB 63DA UNSPONSORD ADR Deutsche Boerse AG DE EUR 16. Oct 2008
OTCPK DBOE.Y UNSPONSORD ADR Pink Sheets LLC US USD 16. Oct 2008
DB A2FG4T NAV MA JAPAN Q 150 EUR INAV Deutsche Boerse AG DE JPY 06. Jun 2017
Number of employees
Current staff
Staff numbers
6,145
Deutsche Börse employees.
Industry
Financial Exchanges and Data
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/01/29 00:34
End of day share price update: 2020/01/28 00:00
Last estimates confirmation: 2020/01/28
Last earnings filing: 2019/10/28
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


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.