B+S Banksysteme Aktiengesellschaft (DTD2) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of B+S Banksysteme Aktiengesellschaft €4.97, price €1.87, upside +166.5%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range €1.29 – €5.05 · fair‑value band €4.02 – €6.24 · the €1.87 price screens below the €4.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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B+S Banksysteme provides software solutions for banks and financial service providers.
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B+S Banksysteme 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 was founded in 1982 and is headquartered in Munich, Germany.
Stock analysis
B+S Banksysteme Aktiengesellschaft (DTD2) currently trades at €1.87, while our model-based Fair Value estimate is €4.97, implying the stock looks roughly 62.5% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €6.90 per share, and 21 of the 24 models we run sit above the €1.87 price.
Bear case: the Earnings-Based group reads lowest at €1.34, and 3 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: €4.02 (bear) to €6.24 (bull), the price of €1.87 sits below 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 65/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
Key figures
Market cap €11.6M · P/E ratio 8.1 · P/S ratio 0.93 · EPS (TTM) €0.2300 · Net margin 11.5% · Return on equity 9.2% · Return on assets (EBIT) 3.1% · Operating margin 15.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at 166%, DTD2 screens cheaper than that median.
Fair Value models
Bear €4.02Fair Value €4.97Bull €6.24
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. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (€0.2300 per share) are deliberately not added.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 ⓘ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.60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−0.9%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+4.4%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+5.0%
Start year 2020 (pandemic). Over 10 years: +4.9% a year
Revenue growth 20 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+7.0%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+83.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+83.7%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.50% vs 10%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−5% → 17%
2025 sits 229% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−31.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −32.4% a year for the price.
Compare B+S Banksysteme Aktiengesellschaft with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Software - Application · 721 stocks
Beats the industry median on 12/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Above median
Fair Value upside+167% · Top 25%
Profitability
Return on equity (TTM)9% · Above median
Return on assets4% · Above median
Net margin (TTM)11% · Above median
Operating margin (TTM)15% · Top 25%
Growth and dividend
Revenue growth10% · Above median
Valuation Multiplesvs Software - Application median · lower = cheaper
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Is B+S Banksysteme Aktiengesellschaft (DTD2) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €4.97 versus a price of €1.87, about +166% upside (undervalued).
What is the fair value of DTD2?
Our model-based fair value for B+S Banksysteme Aktiengesellschaft is €4.97 (as of Sep 23, 2026), built from audited fundamentals. The current price: €1.87.
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 price target for B+S Banksysteme Aktiengesellschaft (DTD2)?
Our model-based price target is the fair value of €4.97 (as of Sep 23, 2026) from 24 valuation models. Cautious scenario €4.02, optimistic scenario €6.24. It is a calculation from audited fundamentals, not an analyst target.
What is the B+S Banksysteme Aktiengesellschaft stock forecast for 2026?
Our models put fair value at €4.97, about +166% upside versus a price of €1.87 (undervalued). Cautious scenario €4.02, optimistic scenario €6.24. The calculation is refreshed regularly with new filings.
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 Sep 23, 2026).
What growth is priced into B+S Banksysteme Aktiengesellschaft (DTD2)?
For today's price to be fair in a discounted-cash-flow model, B+S Banksysteme Aktiengesellschaft would have to grow free cash flow by -31.0 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.0 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of DTD2 use?
Our models discount B+S Banksysteme Aktiengesellschaft at 8.3 %: a base by market capitalisation (nano), damped by beta 0.27, country premium for Germany. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For B+S Banksysteme Aktiengesellschaft that is -31.0 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has B+S Banksysteme Aktiengesellschaft (DTD2) delivered so far?
Over the past 5 years revenue at B+S Banksysteme Aktiengesellschaft grew +5.0 % a year. The price currently implies -31.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of B+S Banksysteme Aktiengesellschaft (DTD2) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into B+S Banksysteme Aktiengesellschaft (-31.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of B+S Banksysteme Aktiengesellschaft (DTD2)?
The free-cash-flow yield on the price is 26.27 %: that much free cash flow B+S Banksysteme Aktiengesellschaft produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of B+S Banksysteme Aktiengesellschaft (DTD2)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For B+S Banksysteme Aktiengesellschaft it is €4.97 per share (as of Sep 23, 2026), against a price of €1.87. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is B+S Banksysteme Aktiengesellschaft stock overvalued or undervalued in 2026?
As of Sep 23, 2026, DTD2 trades below its calculated fair value: price €1.87, fair value €4.97, a gap of about +166% (undervalued). 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 DTD2?
No. The price is what the market pays today (€1.87); the fair value is what the company's own numbers justify (€4.97). For B+S Banksysteme Aktiengesellschaft the two are €3.11 per share apart. That gap is exactly why we show both numbers side by side.
How much is B+S Banksysteme Aktiengesellschaft worth?
The market values B+S Banksysteme Aktiengesellschaft at about €11.6M (market capitalisation, as of Sep 23, 2026). Per share that is €1.87; our models calculate a fair value of €4.97 per share.
What do the bullish and bearish scenarios say about DTD2?
Our models span a range for B+S Banksysteme Aktiengesellschaft: cautious scenario €4.02, base €4.97, optimistic €6.24 per share (as of Sep 23, 2026, price €1.87). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DTD2?
B+S Banksysteme Aktiengesellschaft trades at a price-to-earnings ratio of 8.1 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €4.97 is built from several models across several years. Other multiples: P/B 0.8, P/S 1.0, EV/EBITDA 3.0.
How solid is the balance sheet of B+S Banksysteme Aktiengesellschaft (DTD2)?
Balance-sheet figures for B+S Banksysteme Aktiengesellschaft (as of Sep 23, 2026): return on equity 9.2%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is DTD2 from its 52-week high?
B+S Banksysteme Aktiengesellschaft trades at €1.87, about 20% below its 52-week high of €2.34 and 6% above the low of €1.77 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €4.97 is for.
Which stocks are comparable to B+S Banksysteme Aktiengesellschaft?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, 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 B+S Banksysteme Aktiengesellschaft stock attractive at the current price?
The data as of Sep 23, 2026: price €1.87, calculated fair value €4.97 (+166%), Quality Score 65/100, from 24 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 DTD2 calculated?
We run B+S Banksysteme Aktiengesellschaft through 24 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 €4.97, 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 14.0 % above its aggregate fair value. B+S Banksysteme Aktiengesellschaft currently trades 166 % below its own fair value, and the market average says nothing about that. 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 B+S Banksysteme Aktiengesellschaft (DTD2)?
The closing price on Sep 24, 2026 was €1.87. Our model-based fair value is €4.97, about +166% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with B+S Banksysteme Aktiengesellschaft right now?
The price is below even our cautious bear case (€4.02). 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.
Key figures of B+S Banksysteme Aktiengesellschaft
How large is the market capitalisation of B+S Banksysteme Aktiengesellschaft (DTD2)?
The market capitalisation of B+S Banksysteme Aktiengesellschaft is €11.6M. 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 B+S Banksysteme Aktiengesellschaft (DTD2)?
The price-to-sales ratio of B+S Banksysteme Aktiengesellschaft is 0.93 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of B+S Banksysteme Aktiengesellschaft (DTD2)?
Earnings per share at B+S Banksysteme Aktiengesellschaft are €0.2300 (price ÷ EPS = P/E 8.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of B+S Banksysteme Aktiengesellschaft (DTD2)?
The net margin of B+S Banksysteme Aktiengesellschaft is 11.5% (fiscal year 2025). 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 B+S Banksysteme Aktiengesellschaft (DTD2)?
The return on equity (ROE) of B+S Banksysteme Aktiengesellschaft is 9.2% (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 B+S Banksysteme Aktiengesellschaft (DTD2)?
On an EBIT basis the return on assets of B+S Banksysteme Aktiengesellschaft is 3.1% (avg 5y). 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 B+S Banksysteme Aktiengesellschaft (DTD2)?
The operating margin of B+S Banksysteme Aktiengesellschaft is 15.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at B+S Banksysteme Aktiengesellschaft (DTD2)?
Revenue at B+S Banksysteme Aktiengesellschaft is growing +10.0% versus a year earlier (3y avg +4.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does B+S Banksysteme Aktiengesellschaft (DTD2) carry?
The net debt of B+S Banksysteme Aktiengesellschaft is €4.9M (fiscal year 2025, ≈ 1.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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