MORGAN STANLEY (DWD.DE) Stock Fundamental Analysis
FRA:DWD - Deutsche Boerse Ag - US6174464486 - Common Stock - Currency: EUR
We assign a fundamental rating of 3 out of 10 to DWD. DWD was compared to 110 industry peers in the Capital Markets industry. DWD has a medium profitability rating, but doesn't score so well on its financial health evaluation. DWD has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year DWD was profitable.
DWD had a negative operating cash flow in the past year.
Each year in the past 5 years DWD has been profitable.
The reported operating cash flow has been mixed in the past 5 years: DWD reported negative operating cash flow in multiple years.
1.2 Ratios
DWD has a Return On Assets of 1.05%. This is comparable to the rest of the industry: DWD outperforms 54.55% of its industry peers.
DWD has a better Return On Equity (12.82%) than 71.82% of its industry peers.
DWD's Return On Invested Capital of 1.35% is in line compared to the rest of the industry. DWD outperforms 54.55% of its industry peers.
The Average Return On Invested Capital over the past 3 years for DWD is significantly below the industry average of 7.99%.
The 3 year average ROIC (1.17%) for DWD is below the current ROIC(1.35%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.05% | ||
| ROE | 12.82% | ||
| ROIC | 1.35% |
ROA(3y)0.89%
ROA(5y)0.97%
ROE(3y)10.46%
ROE(5y)11.1%
ROIC(3y)1.17%
ROIC(5y)1.28%
1.3 Margins
DWD has a Profit Margin (12.43%) which is comparable to the rest of the industry.
In the last couple of years the Profit Margin of DWD has declined.
DWD has a better Operating Margin (17.02%) than 63.64% of its industry peers.
DWD's Operating Margin has declined in the last couple of years.
With a decent Gross Margin value of 54.40%, DWD is doing good in the industry, outperforming 69.09% of the companies in the same industry.
In the last couple of years the Gross Margin of DWD has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 17.02% | ||
| PM (TTM) | 12.43% | ||
| GM | 54.4% |
OM growth 3Y-20.12%
OM growth 5Y-4.82%
PM growth 3Y-20.6%
PM growth 5Y-5.48%
GM growth 3Y-16.51%
GM growth 5Y-5.78%
2. Health
2.1 Basic Checks
DWD has less shares outstanding than it did 1 year ago.
The number of shares outstanding for DWD has been increased compared to 5 years ago.
The debt/assets ratio for DWD is higher compared to a year ago.
2.2 Solvency
DWD has an Altman-Z score of -0.12. This is a bad value and indicates that DWD is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of -0.12, DWD perfoms like the industry average, outperforming 43.64% of the companies in the same industry.
DWD has a Debt/Equity ratio of 7.22. This is a high value indicating a heavy dependency on external financing.
DWD has a Debt to Equity ratio of 7.22. This is in the lower half of the industry: DWD underperforms 68.18% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 7.22 | ||
| Debt/FCF | N/A | ||
| Altman-Z | -0.12 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
A Current Ratio of 0.26 indicates that DWD may have some problems paying its short term obligations.
DWD has a Current ratio of 0.26. This is comparable to the rest of the industry: DWD outperforms 43.64% of its industry peers.
A Quick Ratio of 0.26 indicates that DWD may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.26, DWD is in line with its industry, outperforming 43.64% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.26 | ||
| Quick Ratio | 0.26 |
3. Growth
3.1 Past
DWD shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 51.33%, which is quite impressive.
DWD shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.88% yearly.
DWD shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.79%.
DWD shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 14.79% yearly.
EPS 1Y (TTM)51.33%
EPS 3Y-0.38%
EPS 5Y8.88%
EPS Q2Q%28.71%
Revenue 1Y (TTM)10.79%
Revenue growth 3Y20.63%
Revenue growth 5Y14.79%
Sales Q2Q%17.2%
3.2 Future
The Earnings Per Share is expected to grow by 6.26% on average over the next years.
DWD is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.10% yearly.
EPS Next Y12.41%
EPS Next 2Y9.97%
EPS Next 3Y10.25%
EPS Next 5Y6.26%
Revenue Next Year9.06%
Revenue Next 2Y6.52%
Revenue Next 3Y5.46%
Revenue Next 5Y3.1%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 15.53 indicates a correct valuation of DWD.
Based on the Price/Earnings ratio, DWD is valued a bit cheaper than 68.18% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.32. DWD is valued slightly cheaper when compared to this.
Based on the Price/Forward Earnings ratio of 13.78, the valuation of DWD can be described as correct.
74.55% of the companies in the same industry are more expensive than DWD, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 22.19. DWD is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.53 | ||
| Fwd PE | 13.78 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, DWD is valued a bit cheaper than 73.64% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 18.88 |
4.3 Compensation for Growth
DWD's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.25
PEG (5Y)1.75
EPS Next 2Y9.97%
EPS Next 3Y10.25%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.80%, DWD has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 4.96, DWD pays a bit more dividend than its industry peers.
DWD's Dividend Yield is comparable with the S&P500 average which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.8% |
5.2 History
The dividend of DWD is nicely growing with an annual growth rate of 18.94%!
Dividend Growth(5Y)18.94%
Div Incr Years6
Div Non Decr Years6
5.3 Sustainability
45.71% of the earnings are spent on dividend by DWD. This is a bit on the high side, but may be sustainable.
The dividend of DWD is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP45.71%
EPS Next 2Y9.97%
EPS Next 3Y10.25%
FRA:DWD (6/16/2025, 7:00:00 PM)
114.3
+1.32 (+1.17%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners62.74%
Inst Owner ChangeN/A
Ins Owners0.2%
Ins Owner ChangeN/A
Market Cap183.37B
Analysts72.9
Price Target113.09 (-1.06%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.8% |
Yearly Dividend3.3
Dividend Growth(5Y)18.94%
DP45.71%
Div Incr Years6
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)20.77%
Min EPS beat(2)14.48%
Max EPS beat(2)27.07%
EPS beat(4)4
Avg EPS beat(4)16.07%
Min EPS beat(4)7.49%
Max EPS beat(4)27.07%
EPS beat(8)7
Avg EPS beat(8)10.85%
EPS beat(12)9
Avg EPS beat(12)6.29%
EPS beat(16)13
Avg EPS beat(16)7.3%
Revenue beat(2)2
Avg Revenue beat(2)4.34%
Min Revenue beat(2)3.91%
Max Revenue beat(2)4.78%
Revenue beat(4)4
Avg Revenue beat(4)3.58%
Min Revenue beat(4)1.95%
Max Revenue beat(4)4.78%
Revenue beat(8)5
Avg Revenue beat(8)1.47%
Revenue beat(12)9
Avg Revenue beat(12)12.39%
Revenue beat(16)12
Avg Revenue beat(16)10.02%
PT rev (1m)-1.13%
PT rev (3m)-16.44%
EPS NQ rev (1m)0.71%
EPS NQ rev (3m)-3.16%
EPS NY rev (1m)0%
EPS NY rev (3m)0.45%
Revenue NQ rev (1m)0.06%
Revenue NQ rev (3m)-1.76%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.85%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.53 | ||
| Fwd PE | 13.78 | ||
| P/S | 1.93 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 1.99 | ||
| P/tB | 2.53 | ||
| EV/EBITDA | 18.88 |
EPS(TTM)7.36
EY6.44%
EPS(NY)8.3
Fwd EY7.26%
FCF(TTM)-16.34
FCFYN/A
OCF(TTM)-14.53
OCFYN/A
SpS59.32
BVpS57.52
TBVpS45.13
PEG (NY)1.25
PEG (5Y)1.75
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.05% | ||
| ROE | 12.82% | ||
| ROCE | 3.09% | ||
| ROIC | 1.35% | ||
| ROICexc | 1.48% | ||
| ROICexgc | 1.55% | ||
| OM | 17.02% | ||
| PM (TTM) | 12.43% | ||
| GM | 54.4% | ||
| FCFM | N/A |
ROA(3y)0.89%
ROA(5y)0.97%
ROE(3y)10.46%
ROE(5y)11.1%
ROIC(3y)1.17%
ROIC(5y)1.28%
ROICexc(3y)1.31%
ROICexc(5y)1.45%
ROICexgc(3y)1.39%
ROICexgc(5y)1.52%
ROCE(3y)2.71%
ROCE(5y)2.94%
ROICexcg growth 3Y-6.85%
ROICexcg growth 5Y1.53%
ROICexc growth 3Y-6.8%
ROICexc growth 5Y1.26%
OM growth 3Y-20.12%
OM growth 5Y-4.82%
PM growth 3Y-20.6%
PM growth 5Y-5.48%
GM growth 3Y-16.51%
GM growth 5Y-5.78%
F-Score5
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 7.22 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 32.42 | ||
| Cap/Depr | 66.5% | ||
| Cap/Sales | 3.05% | ||
| Interest Coverage | 0.4 | ||
| Cash Conversion | N/A | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.26 | ||
| Quick Ratio | 0.26 | ||
| Altman-Z | -0.12 |
F-Score5
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)74.75%
Cap/Depr(5y)63.46%
Cap/Sales(3y)3.81%
Cap/Sales(5y)3.59%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)51.33%
EPS 3Y-0.38%
EPS 5Y8.88%
EPS Q2Q%28.71%
EPS Next Y12.41%
EPS Next 2Y9.97%
EPS Next 3Y10.25%
EPS Next 5Y6.26%
Revenue 1Y (TTM)10.79%
Revenue growth 3Y20.63%
Revenue growth 5Y14.79%
Sales Q2Q%17.2%
Revenue Next Year9.06%
Revenue Next 2Y6.52%
Revenue Next 3Y5.46%
Revenue Next 5Y3.1%
EBIT growth 1Y43.88%
EBIT growth 3Y-3.64%
EBIT growth 5Y9.26%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-54.4%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-63.47%
OCF growth 3Y-65.77%
OCF growth 5Y-49.33%