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EUWAX Aktiengesellschaft (EUX) Fair Value & Analysis

Financial Services · DE · Market cap €239M

EA EUWAX Aktiengesellschaft EUX · F
Price€48.40
Fair Value€32.59
Upside-32.7%
Quality52/100
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Mixed Growth
Highly profitable · 27.8% net margin
generates free cash flow
Mixed vs. peers (5/12)
Wide moat 75/100
Evidence: High Range €18.72 – €40.74 Share as image

Fair value as of: Aug 20, 2026

From 12 valuation models · updated today

Share price +0.8% over the past month.

A solid business, but screening 33% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€40.74). The favourable scenario is already priced in.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (€18.72 to €40.74) 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 (5 years)

€60.99 €28.17 Fair Value €32.59 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range €28.17 – €60.99 · fair‑value band €18.72 – €40.74 · the €48.40 price screens above the €32.59 fair value. Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

EUWAX Aktiengesellschaft (EUX) currently trades at €48.40, while our model-based Fair Value estimate is €32.59, implying the stock looks roughly 32.7% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, EUWAX Aktiengesellschaft generated revenue of €46.4M at a net margin of 27.8%. Revenue grew 27.0% year over year. It earns a return on equity of 15.6%. The stock trades on a trailing P/E of 14.6. Fundamentals as of Aug 20, 2026

Our scenario range runs from €18.72 (bear case) to €40.74 (bull case); at €48.40, the current price sits above 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 3% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -53% fair-value upside, at -33%, EUX 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 €14.79 €17.16 €25.88 76
Growth DCF €8.70 €14.68 €22.60 72
Gordon GGM €18.95 €31.74 €41.20 70
All 12 models by family
DCF Models
5Y P/E Exit €17.63 €35.67 €57.92 38
10Y P/E Exit €13.90 €27.82 €50.14 35
Earnings-Based
Graham-Dodd €17.05 €101.78 €141.81 54
Lynch FV €28.97 €41.39 €53.81 50
Dividend Discount
Gordon GGM €18.95 €31.74 €41.20 70
DDM Multi-Stage €18.95 €30.11 €34.15 61
Multiples
P/E Multiple €24.44 €32.59 €40.74 63
P/B Multiple €16.90 €22.53 €28.16 55
Asset-Based
NCAV (Graham) €8.05 €10.78 €16.09 50
Growth DCF
Growth DCF €8.70 €14.68 €22.60 72
Rev-Margin DCF €10.03 €18.35 €30.03 67
Economic Profit
Residual Income €14.79 €17.16 €25.88 76

Widest divergence: Earnings-Based (€41.39) versus Asset-Based (€10.78). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) €46.4M
Revenue growth (YoY) +27.0%
Net margin 27.8%
Return on equity 15.6%
Free cash flow €4.4M FY2025
P/E ratio 14.6
More key figures
Operating margin 39.7%
EPS (TTM) €3.31
EPS growth (YoY) +139%

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 49 · Market factors (momentum, volatility) 64

Profitability 36
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 60
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

EUWAX Aktiengesellschaft operates as a liquidity provider in Germany. The company offers financial and securities services. It serves various asset classes such as structured securities, bonds, domestic equities, EURO STOXX 50 equities, Swedish equities, exchange-traded products, and investment fund units.

Full company description

EUWAX Aktiengesellschaft operates as a liquidity provider in Germany. The company offers financial and securities services. It serves various asset classes such as structured securities, bonds, domestic equities, EURO STOXX 50 equities, Swedish equities, exchange-traded products, and investment fund units. The company was formerly known as EUWAX Broker AG and changed its name to EUWAX Aktiengesellschaft in 2003. EUWAX Aktiengesellschaft was founded in 1991 and is based in Stuttgart, Germany. EUWAX Aktiengesellschaft operates as a subsidiary of Boerse Stuttgart GmbH.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

EUWAX Aktiengesellschaft reported revenue of €83.5M in FY2025 versus €67.0M in FY2021, a compound +5.6%/yr. Reported net income was €12.9M in FY2025, compounding +21.7%/yr from FY2021.

Growth Quality 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€83.5M
Latest YoY
+2.1%
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.
+19.9%
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.
+16.3%
Avg. growth/yr (12Y) 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.
+10.8%
Revenue +5.6%/yr
FY21 €67.0M
FY22 €48.4M
FY23 €51.9M
FY24 €81.7M
FY25 €83.5M
Net income +21.7%/yr
FY21 €5.9M
FY22 €4.3M
FY23 €6.6M
FY24 €5.9M
FY25 €12.9M

EUX screens 33% overvalued. Compare with S&P Global Inc →

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Cite: Fair Value Calculator (2026). "EUWAX Aktiengesellschaft Fair Value". https://www.fairvalue-calculator.com/stock/EUX

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 54 · Bottom 25%
Fair Value upside −33% · Above median
Return on equity (TTM) 16% · Below median
Return on assets 5% · Below median
Net margin (TTM) 28% · Below median
Operating margin (TTM) 40% · Below median
Revenue growth 27% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%

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

P/E (TTM) 14.6× · Cheaper than 75% of peers
P/B 3.37× · Cheaper than median
P/S (TTM) 6.03× · Cheaper than median
P/FCF 64.0× · Pricier 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 70
PAST62 · sector 77
HEALTH0 · sector 94
DIVIDEND0 · sector 33

VALUE 0: the price sits above our fair-value range.

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 Aug 20, 2026).

Stock Price Fair Value vs Fair Value
S&P Global Inc SPGI $410.10 $196.36 -52%
CME Group CME $262.17 $145.51 -44%
Moody's Corporation MCO $477.84 $192.63 -60%
Intercontinental Exchange, Inc ICE $151.33 $75.95 -50%
Hong Kong Exchanges and Clearing Limited 0388 HK$408.20 HK$182.59 -55%
Deutsche Börse AG DB1 €271.80 €142.42 -48%
Nasdaq, Inc NDAQ $95.66 $41.12 -57%
MSCI Inc MSCI $563.01 $214.91 -62%
Coinbase Global, Inc COIN $149.04 $57.05 -62%
Cboe Global Markets, Inc CBOE $290.98 $136.64 -53%

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Frequently asked questions

Is EUWAX Aktiengesellschaft (EUX) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of €32.59 versus a price of €48.40, about −33% (overvalued).
What is the fair value of EUX?
Our model-based fair value for EUWAX Aktiengesellschaft is €32.59 (as of Aug 20, 2026), built from audited fundamentals. The current price: €48.40.
What is the quality score of EUX?
EUWAX Aktiengesellschaft has a Quality Score of 52/100. 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 EUWAX Aktiengesellschaft (EUX)?
EUWAX Aktiengesellschaft reported trailing-twelve-month revenue of about €46.4M (latest available figure, as of Aug 20, 2026).
What is the net profit margin of EUX?
The net profit margin of EUWAX Aktiengesellschaft is about 27.8%, meaning it keeps roughly 27.8% 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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