Deutsche Boerse AG
DB1
ISIN DE0005810055 / Valor 1177233
Deutsche Boerse AG
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About company
Deutsche Börse AG is a prominent global financial services provider headquartered in Germany, operating a comprehensive range of services for the financial industry. The company is integral to the infrastructure of the financial markets, offering services that span trading, clearing, settlement, and market data. It plays a crucial role in the facilitation of securities and derivatives trading, primarily through its well-known platforms such as the Frankfurt Stock Exchange and Eurex, one of the largest derivatives exchanges globally. Additionally, Deutsche Börse Group has a dedicated segment for Investment Management Solutions, which consolidates services tailored for the buy side, including asset managers and asset owners. With a presence in numerous financial centers worldwide, Deutsche Börse AG is a key player in the global financial ecosystem, providing essential market infrastructure and services that support the efficient functioning of capital markets.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (14.07.2026):
Deutsche Börse AG — Q1 2026: Strong start to 2026 with double‑digit operational growth. Net revenue (ex‑treasury) rose 12% to €1,434m and net revenue including treasury reached €1,638m (+9%). EBITDA excluding treasury climbed 18% to €803m and EBITDA including treasury set a record at €1,007m (+10%). Net profit attributable to shareholders was €585m (+11%); basic EPS €3.21 and cash EPS €3.40. The Group confirms its 2026 guidance.
Key financials
Net revenue ex‑treasury: €1,434m (+12%); treasury result: €204m (Q1/2025: €230m, –11%); total net revenue: €1,638m (+9%). EBITDA ex‑treasury: €803m (+18%); EBITDA incl. treasury: €1,007m (+10%). Net profit attributable to Deutsche Börse AG: €585m (+11%); basic EPS €3.21; Cash EPS €3.40.
Costs and margin trends
Operating costs: €626m (+4%), driven by inflation, investments and exceptional costs linked to the planned Allfunds acquisition. Depreciation/amortization €130m. Strong operating leverage evident as EBITDA rose faster than revenues.
Segment performance
Trading & Clearing: net revenue €313m (+5%). Investment Management Solutions: net revenue €737m (+12%) with SaaS/software and ESG/index mixed (ESG flat; Software +15% SaaS growth). Fund Services: €150m (+13%). Securities Services: €438m (+5%), with custody and settlement volumes and assets under custody at record highs. Commodities and derivatives saw higher activity amid geopolitical volatility.
M&A and strategic investments
Allfunds: binding agreement (21 Jan 2026) valued ~€5.3bn; scheme approved by Allfunds shareholders (March 12, 2026); completion subject to regulatory approvals and expected in H1 2027. ISS STOXX: remaining 19.69% acquired for €1.15bn (closing end‑March 2026), reducing equity by €1.15bn. Strategic minority investment of US$200m in Payward/ Kraken announced (Apr 14, 2026), subject to approvals.
Capital allocation and shareholder returns
Share buyback program (€500m) launched Dec 2025 and started Feb 2026: €212m of repurchases by Apr 27, 2026 (€152m repurchased as of Mar 31, 2026). 2,000,000 treasury shares retired Feb 10, 2026, reducing share capital by ~1.06% to €186.3m.
Balance sheet snapshot
Total assets €364,127m (Mar 31, 2026) vs €297,156m (Dec 31, 2025), reflecting market‑related balances and central counterparty positions. Shareholders’ equity €10,494m (Mar 31, 2026) vs €11,312m (Dec 31, 2025), impacted by acquisitions and transactions noted above.
Risks, legal items and outlook
Notable legal developments: U.S. court decision in the Peterson II case affecting assets held at Clearstream Banking S.A. (Clearstream assessing appeal); ISS challenged an Indiana proxy‑advisor law. Management reports no significant change in overall Group risk profile. Guidance for full year 2026 remains confirmed.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
53971 M
Market cap (USD)
296,496
Daily traded volume (Shares)
223.6 / 220.1
1 day high/low (USD)
52 weeks high/low (USD)
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Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
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EPS (USD)
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Ratings & reviews
Hubert Joo
Andrea T
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