MORGAN STANLEY (DWD.DE) Stock Fundamental Analysis
FRA:DWD - Deutsche Boerse Ag - US6174464486 - Common Stock - Currency: EUR
Taking everything into account, DWD scores 3 out of 10 in our fundamental rating. DWD was compared to 109 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
DWD had positive earnings in the past year.
DWD had a negative operating cash flow in the past year.
Each year in the past 5 years DWD has been profitable.
In multiple years DWD reported negative operating cash flow during the last 5 years.
1.2 Ratios
The Return On Assets of DWD (1.05%) is comparable to the rest of the industry.
DWD's Return On Equity of 12.82% is fine compared to the rest of the industry. DWD outperforms 68.81% of its industry peers.
DWD has a Return On Invested Capital (1.35%) which is in line with its industry peers.
DWD had an Average Return On Invested Capital over the past 3 years of 1.17%. This is significantly below the industry average of 8.51%.
The last Return On Invested Capital (1.35%) for DWD is above the 3 year average (1.17%), which is a sign of increasing profitability.
| 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.
The Operating Margin of DWD (17.02%) is better than 61.47% of its industry peers.
DWD's Operating Margin has declined in the last couple of years.
The Gross Margin of DWD (54.40%) is better than 69.72% of its industry peers.
DWD's Gross Margin has declined in the last couple of years.
| 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
The number of shares outstanding for DWD has been reduced compared to 1 year ago.
DWD has more shares outstanding than it did 5 years ago.
DWD has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of -0.11, we must say that DWD is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of -0.11, DWD perfoms like the industry average, outperforming 43.12% of the companies in the same industry.
A Debt/Equity ratio of 7.22 is on the high side and indicates that DWD has dependencies on debt financing.
The Debt to Equity ratio of DWD (7.22) is worse than 66.06% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 7.22 | ||
| Debt/FCF | N/A | ||
| Altman-Z | -0.11 |
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 (0.26) which is in line with its industry peers.
DWD has a Quick Ratio of 0.26. This is a bad value and indicates that DWD is not financially healthy enough and could expect problems in meeting its short term obligations.
DWD's Quick ratio of 0.26 is in line compared to the rest of the industry. DWD outperforms 43.12% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.26 | ||
| Quick Ratio | 0.26 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 42.19% over the past year.
DWD shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.88% yearly.
Looking at the last year, DWD shows a quite strong growth in Revenue. The Revenue has grown by 10.36% in the last year.
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)42.19%
EPS 3Y-0.38%
EPS 5Y8.88%
EPS Q2Q%17.03%
Revenue 1Y (TTM)10.36%
Revenue growth 3Y20.63%
Revenue growth 5Y14.79%
Sales Q2Q%11.81%
3.2 Future
DWD is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.26% yearly.
DWD is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.10% yearly.
EPS Next Y11.7%
EPS Next 2Y10.26%
EPS Next 3Y10.52%
EPS Next 5Y6.26%
Revenue Next Year11.63%
Revenue Next 2Y8%
Revenue Next 3Y6.71%
Revenue Next 5Y3.1%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 15.96, the valuation of DWD can be described as correct.
66.97% of the companies in the same industry are more expensive than DWD, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of DWD to the average of the S&P500 Index (26.54), we can say DWD is valued slightly cheaper.
A Price/Forward Earnings ratio of 14.60 indicates a correct valuation of DWD.
Compared to the rest of the industry, the Price/Forward Earnings ratio of DWD indicates a somewhat cheap valuation: DWD is cheaper than 72.48% of the companies listed in the same industry.
DWD is valuated cheaply when we compare the Price/Forward Earnings ratio to 35.28, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.96 | ||
| Fwd PE | 14.6 |
4.2 Price Multiples
DWD's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. DWD is cheaper than 74.31% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 19.44 |
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)1.36
PEG (5Y)1.8
EPS Next 2Y10.26%
EPS Next 3Y10.52%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.81%, DWD has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 5.77, 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 | 2.81% |
5.2 History
On average, the dividend of DWD grows each year by 18.94%, which is quite nice.
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 2Y10.26%
EPS Next 3Y10.52%
FRA:DWD (8/7/2025, 7:00:00 PM)
121.46
-0.26 (-0.21%)
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 Cap194.09B
Analysts72.9
Price Target125.52 (3.34%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.81% |
Yearly Dividend3.33
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)11.19%
PT rev (3m)11.63%
EPS NQ rev (1m)-3.42%
EPS NQ rev (3m)-5.43%
EPS NY rev (1m)-0.84%
EPS NY rev (3m)-0.39%
Revenue NQ rev (1m)-0.29%
Revenue NQ rev (3m)-0.63%
Revenue NY rev (1m)2.24%
Revenue NY rev (3m)2.37%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.96 | ||
| Fwd PE | 14.6 | ||
| P/S | 2.04 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 2.11 | ||
| P/tB | 2.69 | ||
| EV/EBITDA | 19.44 |
EPS(TTM)7.61
EY6.27%
EPS(NY)8.32
Fwd EY6.85%
FCF(TTM)-16.36
FCFYN/A
OCF(TTM)-14.55
OCFYN/A
SpS59.4
BVpS57.6
TBVpS45.19
PEG (NY)1.36
PEG (5Y)1.8
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)1.53%
ROCE(3y)2.71%
ROCE(5y)2.95%
ROICexcg growth 3Y-7.03%
ROICexcg growth 5Y1.53%
ROICexc growth 3Y-6.98%
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 | -0.11 |
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)42.19%
EPS 3Y-0.38%
EPS 5Y8.88%
EPS Q2Q%17.03%
EPS Next Y11.7%
EPS Next 2Y10.26%
EPS Next 3Y10.52%
EPS Next 5Y6.26%
Revenue 1Y (TTM)10.36%
Revenue growth 3Y20.63%
Revenue growth 5Y14.79%
Sales Q2Q%11.81%
Revenue Next Year11.63%
Revenue Next 2Y8%
Revenue Next 3Y6.71%
Revenue Next 5Y3.1%
EBIT growth 1Y40.56%
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%