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SMARTBROKER HOLDING AG (SB1.DE) Stock Fundamental Analysis

FRA:SB1 - Deutsche Boerse Ag - DE000A2GS609 - Common Stock - Currency: EUR

12.55  -0.05 (-0.4%)

Fundamental Rating

3

Overall SB1 gets a fundamental rating of 3 out of 10. We evaluated SB1 against 24 industry peers in the Interactive Media & Services industry. SB1 scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. SB1 is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year SB1 has reported negative net income.
SB1 had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: SB1 reported negative net income in multiple years.
SB1 had a positive operating cash flow in 4 of the past 5 years.
SB1.DE Yearly Net Income VS EBIT VS OCF VS FCFSB1.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5M -5M 10M -10M -15M

1.2 Ratios

SB1's Return On Assets of -9.78% is on the low side compared to the rest of the industry. SB1 is outperformed by 75.00% of its industry peers.
SB1 has a Return On Equity of -12.94%. This is in the lower half of the industry: SB1 underperforms 66.67% of its industry peers.
Industry RankSector Rank
ROA -9.78%
ROE -12.94%
ROIC N/A
ROA(3y)-7.87%
ROA(5y)-2.28%
ROE(3y)-11.74%
ROE(5y)-3.3%
ROIC(3y)N/A
ROIC(5y)N/A
SB1.DE Yearly ROA, ROE, ROICSB1.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 40 60 80

1.3 Margins

With a Gross Margin value of 57.67%, SB1 is not doing good in the industry: 62.50% of the companies in the same industry are doing better.
In the last couple of years the Gross Margin of SB1 has declined.
The Profit Margin and Operating Margin are not available for SB1 so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 57.67%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.31%
GM growth 5Y-8.85%
SB1.DE Yearly Profit, Operating, Gross MarginsSB1.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 40 60 80

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6

2. Health

2.1 Basic Checks

SB1 does not have a ROIC to compare to the WACC, probably because it is not profitable.
SB1 has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, SB1 has more shares outstanding
The debt/assets ratio for SB1 has been reduced compared to a year ago.
SB1.DE Yearly Shares OutstandingSB1.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 5M 10M 15M
SB1.DE Yearly Total Debt VS Total AssetsSB1.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M

2.2 Solvency

SB1 has an Altman-Z score of 9.53. This indicates that SB1 is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of SB1 (9.53) is better than 66.67% of its industry peers.
SB1 has a Debt/Equity ratio of 0.17. This is a healthy value indicating a solid balance between debt and equity.
SB1's Debt to Equity ratio of 0.17 is in line compared to the rest of the industry. SB1 outperforms 50.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF N/A
Altman-Z 9.53
ROIC/WACCN/A
WACC11.9%
SB1.DE Yearly LT Debt VS Equity VS FCFSB1.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20M 40M

2.3 Liquidity

SB1 has a Current Ratio of 6.83. This indicates that SB1 is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 6.83, SB1 belongs to the top of the industry, outperforming 95.83% of the companies in the same industry.
A Quick Ratio of 6.83 indicates that SB1 has no problem at all paying its short term obligations.
SB1 has a Quick ratio of 6.83. This is amongst the best in the industry. SB1 outperforms 95.83% of its industry peers.
Industry RankSector Rank
Current Ratio 6.83
Quick Ratio 6.83
SB1.DE Yearly Current Assets VS Current LiabilitesSB1.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 50.97% over the past year.
SB1 shows a small growth in Revenue. In the last year, the Revenue has grown by 0.31%.
Measured over the past years, SB1 shows a very strong growth in Revenue. The Revenue has been growing by 43.05% on average per year.
EPS 1Y (TTM)50.97%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-13.36%
Revenue 1Y (TTM)0.31%
Revenue growth 3Y18.16%
Revenue growth 5Y43.05%
Sales Q2Q%8.89%

3.2 Future

Based on estimates for the next years, SB1 will show a decrease in Earnings Per Share. The EPS will decrease by -4.89% on average per year.
SB1 is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 11.57% yearly.
EPS Next Y57.14%
EPS Next 2Y-52.99%
EPS Next 3Y-4.89%
EPS Next 5YN/A
Revenue Next Year6.06%
Revenue Next 2Y6.48%
Revenue Next 3Y10.26%
Revenue Next 5Y11.57%

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
SB1.DE Yearly Revenue VS EstimatesSB1.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 20M 40M 60M 80M 100M
SB1.DE Yearly EPS VS EstimatesSB1.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 0.2 -0.2 -0.4 -0.6

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0

4. Valuation

4.1 Price/Earnings Ratio

SB1 reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year SB1 is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
SB1.DE Price Earnings VS Forward Price EarningsSB1.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, SB1 is valued a bit more expensive than 75.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 76.05
SB1.DE Per share dataSB1.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2

4.3 Compensation for Growth

A cheap valuation may be justified as SB1's earnings are expected to decrease with -4.89% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-52.99%
EPS Next 3Y-4.89%

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0

5. Dividend

5.1 Amount

SB1 does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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SMARTBROKER HOLDING AG

FRA:SB1 (5/28/2025, 7:00:00 PM)

12.55

-0.05 (-0.4%)

Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryInteractive Media & Services
Earnings (Last)03-13 2025-03-13/amc
Earnings (Next)09-08 2025-09-08
Inst Owners3.53%
Inst Owner ChangeN/A
Ins Owners55%
Ins Owner ChangeN/A
Market Cap210.59M
Analysts86.67
Price Target13.77 (9.72%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)35%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-160%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.52%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 4.33
P/FCF N/A
P/OCF 163.5
P/B 4.33
P/tB 16.44
EV/EBITDA 76.05
EPS(TTM)-0.39
EYN/A
EPS(NY)-0.72
Fwd EYN/A
FCF(TTM)-0.48
FCFYN/A
OCF(TTM)0.08
OCFY0.61%
SpS2.9
BVpS2.9
TBVpS0.76
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -9.78%
ROE -12.94%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 57.67%
FCFM N/A
ROA(3y)-7.87%
ROA(5y)-2.28%
ROE(3y)-11.74%
ROE(5y)-3.3%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.31%
GM growth 5Y-8.85%
F-Score6
Asset Turnover0.76
Health
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF N/A
Debt/EBITDA 3.12
Cap/Depr 96.76%
Cap/Sales 19.06%
Interest Coverage N/A
Cash Conversion 48.64%
Profit Quality N/A
Current Ratio 6.83
Quick Ratio 6.83
Altman-Z 9.53
F-Score6
WACC11.9%
ROIC/WACCN/A
Cap/Depr(3y)205.36%
Cap/Depr(5y)N/A
Cap/Sales(3y)29.97%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)50.97%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-13.36%
EPS Next Y57.14%
EPS Next 2Y-52.99%
EPS Next 3Y-4.89%
EPS Next 5YN/A
Revenue 1Y (TTM)0.31%
Revenue growth 3Y18.16%
Revenue growth 5Y43.05%
Sales Q2Q%8.89%
Revenue Next Year6.06%
Revenue Next 2Y6.48%
Revenue Next 3Y10.26%
Revenue Next 5Y11.57%
EBIT growth 1Y39.32%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year271.29%
EBIT Next 3Y41.4%
EBIT Next 5YN/A
FCF growth 1Y9.42%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-93.08%
OCF growth 3Y-45.6%
OCF growth 5YN/A