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B+S Banksysteme Aktiengesellschaft (DTD2) Fair Value & Analysis

Technology · DE · Market cap €12.4M

BS B+S Banksysteme Aktiengesellschaft DTD2 · XETRA
Price€2.00
Fair Value€4.83
Upside+141.5%
Quality65/100
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Mixed Growth
Solidly profitable · 11.0% net margin
generates free cash flow
Ranks above peers (12/12)
Moderate moat 51/100
Evidence: High Range €3.43 – €6.24 Share as image

Fair value as of: Jul 18, 2026

From 24 valuation models · updated 23 days ago

Share price +0.8% over the past month.

A solid business, screening 142% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€3.43). The market is more pessimistic than our downside scenario.
  • Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€3.43 to €6.24) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€5.05 €1.29 Fair Value €4.83 Sep 2018 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range €1.29 – €5.05 · fair‑value band €3.43 – €6.24 · the €2.00 price screens below the €4.83 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

B+S Banksysteme Aktiengesellschaft (DTD2) currently trades at €2.00, while our model-based Fair Value estimate is €4.83, implying the stock looks roughly 141.5% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Technology 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.

Over the trailing twelve months, B+S Banksysteme Aktiengesellschaft generated revenue of €13.2M at a net margin of 11.0%. Revenue grew 10.0% year over year. It earns a return on equity of 9.2%. Net debt stands at €4.9M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €3.43 (bear case) to €6.24 (bull case); at €2.00, 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 41% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at 142%, DTD2 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
Growth DCF €4.71 €6.01 €7.53 72
Growth-Adj P/E €3.12 €4.46 €5.80 68
Rev-Margin DCF €3.34 €4.37 €5.56 67
All 24 models by family
DCF Models
FCF DCF €4.70 €6.20 €8.04 38
Owner Earnings €3.30 €4.28 €5.49 31
5Y Revenue Exit €3.34 €4.30 €5.44 39
5Y EBITDA Exit €4.52 €6.48 €8.71 41
5Y P/E Exit €4.34 €6.15 €8.00 38
10Y Revenue Exit €3.87 €4.80 €5.93 36
10Y EBITDA Exit €4.55 €6.09 €8.04 37
10Y P/E Exit €4.45 €5.89 €7.58 35
Earnings-Based
Graham-Dodd €1.59 €4.72 €6.25 54
Lynch FV €1.00 €1.42 €1.85 50
PEG = 1.0 €1.00 €1.42 €1.85 46
EPV €2.87 €3.13 €3.35 59
Multiples
P/E Multiple €3.86 €5.14 €6.43 63
P/S Multiple €1.83 €2.43 €3.04 58
P/B Multiple €2.98 €3.97 €4.97 55
EV/EBIT €5.37 €6.94 €8.51 53
EV/EBITDA €4.89 €6.30 €7.71 54
EV/Revenue €2.37 €3.10 €3.83 43
Asset-Based
NCAV (Graham) €1.27 €1.70 €2.54 50
Growth DCF
Growth DCF €4.71 €6.01 €7.53 72
Rev-Margin DCF €3.34 €4.37 €5.56 67
Economic Profit
Residual Income €1.96 €2.06 €2.18 61
ROIC Compounder €2.92 €3.31 €3.73 67
Growth Earnings
Growth-Adj P/E €3.12 €4.46 €5.80 68

Widest divergence: DCF Models (€5.89) versus Earnings-Based (€1.42). Highest evidence: Growth DCF (72).

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Key figures & financial health

Revenue (TTM) €13.2M
Revenue growth (YoY) +10.0%
Net margin 11.0%
Return on equity 9.2%
Free cash flow €3.0M FY2025
P/E ratio 8.7
More key figures
Operating margin 15.4%
EPS (TTM) €0.2300
Net debt €4.9M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 65 · Market factors (momentum, volatility) 45

Profitability 38
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 96
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 29
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

B+S Banksysteme Aktiengesellschaft provides software solutions for banks and financial service providers. It offers software solutions in the areas of mobile and online banking; payment transactions; documentary transactions for import and export of letter of credit and collection, and guarantees; and treasury trading products, including foreign exchange …

Full company description

B+S Banksysteme Aktiengesellschaft provides software solutions for banks and financial service providers. It offers software solutions in the areas of mobile and online banking; payment transactions; documentary transactions for import and export of letter of credit and collection, and guarantees; and treasury trading products, including foreign exchange spot and swap position, and interest rate positions, as well as liquidity-oriented position presentation. The company also provides foreign currency and precious metal trading services; core banking services, such as checking and current accounts, fixed-term deposits, and investment and foreign currency accounts; and risk management services comprising credit and default, advance performance, market price, and liquidity risks. In addition, it offers banking APIs, such as XS2A, EBICS, HBCI/FinTS, and web scrapping services; account information, payment initiation, and securities services; credit cards, points accounts, and payment providers and fintechs; B+S shield service; and reporting for account information and payment initiation services and anti-money laundering and counter terrorism for account information and payment initiation services, as well as software as a service, license as a service, and banking as a service solutions. B+S Banksysteme Aktiengesellschaft was founded in 1982 and is headquartered in Munich, Germany.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

B+S Banksysteme Aktiengesellschaft reported revenue of €12.6M in FY2025 versus €10.4M in FY2021, a compound +4.8%/yr. Reported net income was €1.5M in FY2025, compounding +65.8%/yr from FY2021.

Growth Quality 60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€12.6M
Latest YoY
−0.9%
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.
+4.4%
Avg. growth/yr (5Y) 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.
+5.0%
Avg. growth/yr (20Y) 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.
+7.0%
Revenue +4.8%/yr
FY21 €10.4M
FY22 €11.1M
FY23 €11.2M
FY24 €12.7M
FY25 €12.6M
Net income +65.8%/yr
FY21 €192K
FY22 €16.0K
FY23 €441K
FY24 €1.2M
FY25 €1.5M

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Cite: Fair Value Calculator (2026). "B+S Banksysteme Aktiengesellschaft Fair Value". https://www.fairvalue-calculator.com/stock/DTD2

Peer Group

Software - Application · 709 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 65 · Above median
Fair Value upside +142% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 4% · Above median
Net margin (TTM) 11% · Above median
Operating margin (TTM) 15% · Top 25%
Revenue growth 10% · Above median

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 8.7× · Cheaper than 75% of peers
P/B 0.91× · Cheaper than median
P/S (TTM) 1.09× · Cheaper than median
P/FCF 4.7× · Cheaper than median
EV/EBITDA 3.4× · 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 50 · sector 38
PAST 37 · sector 13
HEALTH 0 · sector 98
DIVIDEND 0 · sector 28

Insider activity: 40/100

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is B+S Banksysteme Aktiengesellschaft (DTD2) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €4.83 versus a price of €2.00, about +142% (undervalued).
What is the fair value of DTD2?
Our model-based fair value for B+S Banksysteme Aktiengesellschaft is €4.83 (as of Jul 18, 2026), built from audited fundamentals. The current price is €2.00.
What is the quality score of DTD2?
B+S Banksysteme Aktiengesellschaft has a Quality Score of 65/100. 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 B+S Banksysteme Aktiengesellschaft (DTD2)?
B+S Banksysteme Aktiengesellschaft reported trailing-twelve-month revenue of about €13.2M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of DTD2?
The net profit margin of B+S Banksysteme Aktiengesellschaft is about 11.0%, meaning it keeps roughly 11.0% of revenue as net income. Based on the latest reported figures.

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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