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Budapesti Értéktozsde Nyilvánosan Muködo Részvénytársaság (BET) Fair Value & Analysis

Financial Services · HU · Market cap 63.3B HUF

Budapesti Értéktozsde Nyilvánosan Muködo Részvénytársaság BET · BUD
Price12,000 HUF
Fair Value23,800 HUF
Upside+98.3%
Quality71/100
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Expensive Growth
generates free cash flow
Ranks above peers (8/10)
Wide moat 78/100
Evidence: High Range 13,881 HUF – 34,667 HUF Share as image

Fair value as of: Jul 25, 2026

From 13 valuation models · updated 16 days ago

Fair value updated Jul 25, 2026, revised from 22,000 HUF to 23,800 HUF (+8.2%) since Jun 26, 2026. Share price +3.4% over the past month.

A solid business, screening 98% undervalued on our models.

What matters now

  • The rarer combination: high quality (71/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (13,881 HUF). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (13,881 HUF to 34,667 HUF) leaves room in how you read the outcome.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (3 years)

13,800 HUF 2,388 HUF Fair Value 23,800 HUF Jun 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

38‑month range 2,388 HUF – 13,800 HUF · fair‑value band 13,881 HUF – 34,667 HUF · the 12,000 HUF price screens below the 23,800 HUF fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

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Analysis

Budapesti Értéktozsde Nyilvánosan Muködo Részvénytársaság (BET) currently trades at 12,000 HUF, while our model-based Fair Value estimate is 23,800 HUF, implying the stock looks roughly 98.3% undervalued today. The Quality Score stands at 71/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Trailing-twelve-month revenue stands at 4.6B HUF. Revenue grew 23.2% year over year. It earns a return on equity of 30.8%. The stock trades on a trailing P/E of 6.4. Fundamentals as of Jul 25, 2026

Our scenario range runs from 13,881 HUF (bear case) to 34,667 HUF (bull case); at 12,000 HUF, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 97% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -53% fair-value upside, at 98%, BET screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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. Evidence
Highest evidence
Residual Income 12,751 HUF 19,008 HUF 164,837 HUF 76
Growth DCF 4,271 HUF 5,508 HUF 7,310 HUF 72
Gordon GGM 1,138 HUF 2,366 HUF 3,754 HUF 70
All 13 models by family
DCF Models
Owner Earnings 22,649 HUF 35,071 HUF 54,469 HUF 31
5Y P/E Exit 18,375 HUF 32,649 HUF 48,047 HUF 38
10Y P/E Exit 13,290 HUF 24,381 HUF 38,734 HUF 35
Earnings-Based
Graham-Dodd 12,103 HUF 40,827 HUF 54,717 HUF 54
Lynch FV 9,319 HUF 13,313 HUF 17,307 HUF 50
Dividend Discount
Gordon GGM 1,138 HUF 2,366 HUF 3,754 HUF 70
DDM Multi-Stage 1,138 HUF 1,953 HUF 2,484 HUF 61
Multiples
P/E Multiple 26,697 HUF 35,596 HUF 44,495 HUF 63
P/B Multiple 14,713 HUF 19,617 HUF 24,521 HUF 55
Asset-Based
NCAV (Graham) 3,270 HUF 4,381 HUF 6,539 HUF 50
Growth DCF
Growth DCF 4,271 HUF 5,508 HUF 7,310 HUF 72
Rev-Margin DCF 3,563 HUF 4,478 HUF 5,560 HUF 67
Economic Profit
Residual Income 12,751 HUF 19,008 HUF 164,837 HUF 76

Widest divergence: DCF Models (32,649 HUF) versus Dividend Discount (1,953 HUF). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 4.6B HUF
Revenue growth (YoY) +23.2%
Net margin 215%
Return on equity 30.8%
Free cash flow 1.1B HUF FY2025
P/E ratio 6.4
More key figures
Operating margin 40.3%
EPS (TTM) 1,841 HUF
EPS growth (YoY) +25.1%

Figures from reported company fundamentals · as of Jul 25, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 71/100

Of which business quality 71 · Market factors (momentum, volatility) 65

Profitability 61
Margins and returns on capital today
Quality Growth 69
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 98
Balance sheet, leverage, solvency risk
Investment 28
Disciplined investing over empire-building
Low Volatility 39
Calm price path (market factor)
Momentum 72
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Budapesti Értéktozsde Nyilvánosan Muködo Részvénytársaság operates as a stock exchange in Hungary and internationally. It offers economic operators access to financial resources and offers investors a range of investment instruments. The company also provides listing, trading, dissemination of market information, and product development services.

Full company description

Budapesti Értéktozsde Nyilvánosan Muködo Részvénytársaság operates as a stock exchange in Hungary and internationally. It offers economic operators access to financial resources and offers investors a range of investment instruments. The company also provides listing, trading, dissemination of market information, and product development services. In addition, it offers equities and debt securities, investment funds, and structured products, as well as data information services. The company was founded in 1864 and is headquartered in Budapest, Hungary.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Budapesti Értéktozsde Nyilvánosan Muködo Részvénytársaság reported revenue of 4.3B HUF in FY2025 versus 3.1B HUF in FY2021, a compound +9.1%/yr. Reported net income was 9.6B HUF in FY2025, compounding +61.3%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
4.3B HUF
Latest YoY
+16.0%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.7%
Revenue +9.1%/yr
FY21 3.1B HUF
FY22 3.7B HUF
FY23 3.6B HUF
FY24 3.7B HUF
FY25 4.3B HUF
Net income +61.3%/yr
FY21 1.4B HUF
FY22 −213M HUF
FY23 5.8B HUF
FY24 5.8B HUF
FY25 9.6B HUF

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Cite: Fair Value Calculator (2026). "Budapesti Értéktozsde Nyilvánosan Muködo Részvénytársaság Fair Value". https://www.fairvalue-calculator.com/stock/BET

Peer Group

Financial Data & Stock Exchanges · 54 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 71 · Above median
Fair Value upside +98% · Top 25%
Return on equity (TTM) 31% · Top 25%
Return on assets 3% · Below median
Operating margin (TTM) 40% · Above median
Revenue growth 23% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Financial Data & Stock Exchanges median · lower = cheaper

P/E (TTM) 6.4× · Cheaper than 75% of peers
P/S (TTM) 0.04× · Cheaper than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 0
FUTURE 100 · sector 69
PAST 100 · sector 77
HEALTH 0 · sector 94
DIVIDEND 0 · sector 32

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Financial Data & Stock Exchanges stocks, each showing price versus our Fair Value estimate (as of Jul 25, 2026).

Stock Price Fair Value vs Fair Value
S&P Global Inc SPGI $450.84 $196.36 -56%
CME Group CME $245.05 $145.51 -41%
Moody's Corporation MCO $504.46 $194.82 -61%
Intercontinental Exchange, Inc ICE $139.65 $75.95 -46%
Deutsche Börse AG DB1 €260.90 €142.42 -45%
Nasdaq, Inc NDAQ $88.08 $41.12 -53%
MSCI Inc MSCI $604.71 $214.91 -64%
Coinbase Global, Inc COIN $160.49 $57.05 -64%
Cboe Global Markets, Inc CBOE $273.41 $136.64 -50%
Hithink RoyalFlush Information Network Co 300033 ¥215.56 ¥55.36 -74%

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Frequently asked questions

Is Budapesti Értéktozsde Nyilvánosan Muködo Részvénytársaság (BET) overvalued or undervalued?
As of Jul 25, 2026, our model estimates a fair value of 23,800 HUF versus a price of 12,000 HUF, about +98% (undervalued).
What is the fair value of BET?
Our model-based fair value for Budapesti Értéktozsde Nyilvánosan Muködo Részvénytársaság is 23,800 HUF (as of Jul 25, 2026), built from audited fundamentals. The current price is 12,000 HUF.
What is the quality score of BET?
Budapesti Értéktozsde Nyilvánosan Muködo Részvénytársaság has a Quality Score of 71/100. 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 revenue of Budapesti Értéktozsde Nyilvánosan Muködo Részvénytársaság (BET)?
Budapesti Értéktozsde Nyilvánosan Muködo Részvénytársaság reported trailing-twelve-month revenue of about 4.6B HUF (latest available figure, as of Jul 25, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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