Deutsche Börse AG (0H3T) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Deutsche Börse AG €272, price €288, upside -5.6%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range €124.80 – €291.05 · fair‑value band €199.98 – €344.44 · the €288.40 price screens above the €272.22 fair value. Dashed = 300-day average. As of Oct 3, 2026.
Deutsche Börse AG operates as an international exchange organization in Germany, rest of Europe, the United States, and the Asia-Pacific. The company operates through four segments: Investment Management Solutions, Trading & Clearing, Fund Services, and Securities Services.
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Deutsche Börse AG operates as an international exchange organization in Germany, rest of Europe, the United States, and the Asia-Pacific. The company operates through four segments: Investment Management Solutions, Trading & Clearing, Fund Services, and Securities Services. The Investment Management Solutions segment offers financial data, analytics, and software-as-a-service solutions including research, data collection, data analysis, and the provision of indices, analytics and investment management software to institutional investors, banks, and corporate clients. The Trading & Clearing segment engages in the development and operation of markets and trading systems for securities, derivatives, commodities, currencies, digital assets, and other asset classes. This segment handles settlement of transactions through clearing houses. Its Fund Services segment provides infrastructure and services for fund processing, including order routing, settlement, custody, data and distribution support for investment funds. The Securities Services segment offers various services for securities issuance, settlement, custody as well as collateral, securities lending, and liquidity management. The company was founded in 1585 and is headquartered in Eschborn, Germany.
Stock analysis
Deutsche Börse AG (0H3T) currently trades at €288.40, while our model-based Fair Value estimate is €272.22, so the stock looks roughly fairly valued today (gap 5.9%).
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Valuation
Bull case: the DCF Models group reads highest at a median of €202.94 per share, and 0 of the 25 models we run sit above the €288.40 price.
Bear case: the Asset-Based group reads lowest at €31.50, and 25 of the 25 models stay below the price. Evidence for this calculation is medium.
Scenario range: €199.98 (bear) to €344.44 (bull), the price of €288.40 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Deutsche Börse AG reported revenue of €3.1B in FY2018 versus €2.7B in FY2016, a compound +8.2%/yr. Reported net income was €824M in FY2018, compounding −19.5%/yr from FY2016.
Key figures
Market cap €29.6B · P/S ratio 3.81 · Dividend yield 1.5% · Net margin 26.3% · Return on equity 20.4% · Return on assets (EBIT) 0.8% · Operating margin 41.5% · Revenue (TTM) €7.8B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 44% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −24% fair-value upside, at −6%, 0H3T screens cheaper than that median.
Fair Value models
Bear €199.98Fair Value €272.22Bull €344.44
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Deutsche Börse AG Fair Value". https://www.fairvalue-calculator.com/stock/0H3T
Frequently asked questions
Is Deutsche Börse AG (0H3T) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of €272.22 versus a price of €288.40, about −6% upside (fairly valued).
What is the fair value of 0H3T?
Our model-based fair value for Deutsche Börse AG is €272.22 (as of Oct 3, 2026), built from audited fundamentals. The current price: €288.40.
What is the quality score of 0H3T?
Deutsche Börse AG has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Deutsche Börse AG (0H3T)?
Our model-based price target is the fair value of €272.22 (as of Oct 3, 2026) from 25 valuation models. Cautious scenario €199.98, optimistic scenario €344.44. It is a calculation from audited fundamentals, not an analyst target.
What is the Deutsche Börse AG stock forecast for 2026?
Our models put fair value at €272.22, about −6% upside versus a price of €288.40 (fairly valued). Cautious scenario €199.98, optimistic scenario €344.44. The calculation is refreshed regularly with new filings.
What is the revenue of Deutsche Börse AG (0H3T)?
Deutsche Börse AG reported trailing-twelve-month revenue of about €7.8B (latest available figure, as of Oct 3, 2026).
Does Deutsche Börse AG pay a dividend?
Deutsche Börse AG currently shows a dividend yield of about 1.46% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of Deutsche Börse AG (0H3T)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Deutsche Börse AG it is €272.22 per share (as of Oct 3, 2026), against a price of €288.40. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Deutsche Börse AG stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 0H3T trades above its calculated fair value: price €288.40, fair value €272.22, a gap of about −6% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0H3T?
No. The price is what the market pays today (€288.40); the fair value is what the company's own numbers justify (€272.22). For Deutsche Börse AG the two are €16.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is Deutsche Börse AG worth?
The market values Deutsche Börse AG at about €29.6B (market capitalisation, as of Oct 3, 2026). Per share that is €288.40; our models calculate a fair value of €272.22 per share.
What do the bullish and bearish scenarios say about 0H3T?
Our models span a range for Deutsche Börse AG: cautious scenario €199.98, base €272.22, optimistic €344.44 per share (as of Oct 3, 2026, price €288.40). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0H3T from its 52-week high?
Deutsche Börse AG trades at €288.40, about 1% below its 52-week high of €291.05 and 44% above the low of €200.54 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €272.22 is for.
Which stocks are comparable to Deutsche Börse AG?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Lockheed Martin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Deutsche Börse AG stock attractive at the current price?
The data as of Oct 3, 2026: price €288.40, calculated fair value €272.22 (−6%), Quality Score 62/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0H3T calculated?
We run Deutsche Börse AG through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €272.22, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Deutsche Börse AG itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Deutsche Börse AG (0H3T)?
The closing price on Oct 2, 2026 was €288.40. Our model-based fair value is €272.22, about −6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Deutsche Börse AG right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Deutsche Börse AG
How large is the market capitalisation of Deutsche Börse AG (0H3T)?
The market capitalisation of Deutsche Börse AG is €29.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Deutsche Börse AG (0H3T)?
The price-to-sales ratio of Deutsche Börse AG is 3.81 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Deutsche Börse AG (0H3T)?
The dividend yield of Deutsche Börse AG is 1.5%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Deutsche Börse AG (0H3T)?
The net margin of Deutsche Börse AG is 26.3% (fiscal year 2018). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Deutsche Börse AG (0H3T)?
The return on equity (ROE) of Deutsche Börse AG is 20.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Deutsche Börse AG (0H3T)?
On an EBIT basis the return on assets of Deutsche Börse AG is 0.8% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Deutsche Börse AG (0H3T)?
The operating margin of Deutsche Börse AG is 41.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Deutsche Börse AG (0H3T)?
Revenue at Deutsche Börse AG is growing +12.8% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Deutsche Börse AG (0H3T)?
Earnings per share at Deutsche Börse AG are growing +13.2% versus a year earlier. How much earnings per share grew versus a year earlier.
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