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SMARTBROKER HOLDING AG (SB1.DE) Stock Fundamental Analysis

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

9.44  -0.06 (-0.63%)

Fundamental Rating

3

SB1 gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 23 industry peers in the Interactive Media & Services industry. The financial health of SB1 is average, but there are quite some concerns on its profitability. SB1 is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

SB1 had negative earnings in the past year.
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

Looking at the Return On Assets, with a value of -9.78%, SB1 is doing worse than 70.00% of the companies in the same industry.
SB1's Return On Equity of -12.94% is on the low side compared to the rest of the industry. SB1 is outperformed by 65.00% 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: 70.00% of the companies in the same industry are doing better.
In the last couple of years the Gross Margin of SB1 has declined.
SB1 does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
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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5

2. Health

2.1 Basic Checks

SB1 does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, SB1 has about the same amount of shares outstanding.
SB1 has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, SB1 has an improved debt to assets ratio.
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 7.54. This indicates that SB1 is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of SB1 (7.54) is comparable to the rest of the industry.
SB1 has a Debt/Equity ratio of 0.17. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.17, SB1 is doing worse than 60.00% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF N/A
Altman-Z 7.54
ROIC/WACCN/A
WACC12.86%
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

A Current Ratio of 6.83 indicates that SB1 has no problem at all paying its short term obligations.
With an excellent Current ratio value of 6.83, SB1 belongs to the best of the industry, outperforming 95.00% 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 95.00% 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.
The Revenue has been growing slightly by 0.31% in the past year.
SB1 shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 43.05% yearly.
EPS 1Y (TTM)50.97%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-13.38%
Revenue 1Y (TTM)0.31%
Revenue growth 3Y18.16%
Revenue growth 5Y43.05%
Sales Q2Q%8.89%

3.2 Future

The Earnings Per Share is expected to grow by 32.88% on average over the next years. This is a very strong growth
SB1 is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.87% yearly.
EPS Next Y83.52%
EPS Next 2Y27.96%
EPS Next 3Y32.88%
EPS Next 5YN/A
Revenue Next Year2.45%
Revenue Next 2Y4.37%
Revenue Next 3Y6.4%
Revenue Next 5Y7.87%

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last 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
SB1.DE Yearly EPS VS EstimatesSB1.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 0.2 -0.2

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1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for SB1. In the last year negative earnings were reported.
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 50 -50

4.2 Price Multiples

SB1's Enterprise Value to EBITDA ratio is rather expensive when compared to the industry. SB1 is more expensive than 80.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 56.34
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 more expensive valuation may be justified as SB1's earnings are expected to grow with 32.88% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y27.96%
EPS Next 3Y32.88%

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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 (2/4/2025, 7:00:00 PM)

9.44

-0.06 (-0.63%)

Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryInteractive Media & Services
Earnings (Last)09-02 2024-09-02
Earnings (Next)N/A N/A
Inst Owners3.16%
Inst Owner ChangeN/A
Ins Owners51.39%
Ins Owner ChangeN/A
Market Cap158.40M
Analysts80
Price Target10.2 (8.05%)
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)2.04%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)89.13%
EPS NY rev (3m)66.67%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.37%
Revenue NY rev (3m)-3.4%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 3.26
P/FCF N/A
P/OCF 122.98
P/B 3.26
P/tB 12.36
EV/EBITDA 56.34
EPS(TTM)-0.39
EYN/A
EPS(NY)-0.11
Fwd EYN/A
FCF(TTM)-0.48
FCFYN/A
OCF(TTM)0.08
OCFY0.81%
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 7.54
F-Score6
WACC12.86%
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%-13.38%
EPS Next Y83.52%
EPS Next 2Y27.96%
EPS Next 3Y32.88%
EPS Next 5YN/A
Revenue 1Y (TTM)0.31%
Revenue growth 3Y18.16%
Revenue growth 5Y43.05%
Sales Q2Q%8.89%
Revenue Next Year2.45%
Revenue Next 2Y4.37%
Revenue Next 3Y6.4%
Revenue Next 5Y7.87%
EBIT growth 1Y39.32%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year183.11%
EBIT Next 3Y58.88%
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