Fairvalue-Calculator Fairvalue-Calculator
EN DE

Hellenic Exchanges - Athens Stock Exchange S.A (EXAE) Fair Value & Analysis

Financial Services · GR · Market cap €434M

HE Hellenic Exchanges - Athens Stock Exchange S.A EXAE · AT
Price€7.51
Fair Value€7.11
Upside-5.3%
Quality95/100
Evidence: High Range €5.33 – €15.53

Fair value as of: Jun 26, 2026

From 24 valuation models · updated 4 days ago

Share price +2.7% over the past month.

Price vs Fair Value (12 months)

€7.52 €5.74 Fair Value €7.11 Jun 2025 Jun 2026

12‑month range €5.74 – €7.52 · fair‑value band €5.33 – €15.53 · the €7.51 price screens above the €7.11 fair value. As of Jun 26, 2026.

✦ Find undervalued quality stocks — 35,000+ analysed Find stocks →

Analysis

Hellenic Exchanges - Athens Stock Exchange S.A (EXAE) currently trades at €7.51, while our model-based Fair Value estimate is €7.11 — implying the stock looks roughly 5.3% overvalued today. We read business quality at 95/100 (high 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, Hellenic Exchanges - Athens Stock Exchange S.A generated revenue of €82.9M at a net margin of 38.2%. Revenue grew 48.6% year over year. It earns a return on equity of 26.4%. The balance sheet holds a net cash position of €60.4M. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) €82.9M
Revenue growth (YoY) +48.6%
Net margin 38.2%
Return on equity 26.4%
Free cash flow €50.5M FY2025
P/E ratio 13.7
More key figures
Operating margin 24.5%
EPS (TTM) €0.5500
EPS growth (YoY) +17.9%
Net cash €60.4M FY2022

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

Hellenic Exchanges - Athens Stock Exchange S.A. provides support services for the operation of Greek capital market. It operates equities and derivatives, and the alternative markets; performs clearing and settlement of trades; and offers financing tools and solutions. The company is also involved in the management of clearing systems and/or central counterparty; and finalizing, reconciling, or settling the finalization of transactions in financial instruments, as well as operates as a system administrator in the Athens Exchange Clearing House. In addition, it engages in carrying out activities relating to the provision of central securities depository services, and ancillary or supplementary services. Further, the company offers listing, trading, clearing, settlement, registry, and regulatory services, as well as IT and digital services. Hellenic Exchanges - Athens Stock Exchange S.A. was formerly known as Hellenic Exchanges S.A. and changed its name to Hellenic Exchanges - Athens …

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hellenic Exchanges - Athens Stock Exchange S.A reported revenue of €85.8M in FY2025 versus €35.8M in FY2021, a compound +24.5%/yr. Reported net income was €31.6M in FY2025, compounding +40.1%/yr from FY2021.

Revenue +24.5%/yr
FY21 €35.8M
FY22 €37.5M
FY23 €46.8M
FY24 €53.9M
FY25 €85.8M
Net income +40.1%/yr
FY21 €8.2M
FY22 €8.2M
FY23 €13.0M
FY24 €17.3M
FY25 €31.6M

Open the full interactive analysis →

Similar stocks

6 more Financial Data & Stock Exchanges stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

Stock Price Fair Value vs Fair Value
S&P Global Inc SPGI C$19.84 C$14.02 -29%
CME Group CME $231.68 $145.51 -37%
Intercontinental Exchange, Inc ICE $140.34 $71.58 -49%
Moody's Corporation MCO $450.69 $188.41 -58%
Hong Kong Exchanges and Clearing Limited 0388 HK$377.60 HK$218.75 -42%
London Stock Exchange Group LDNXF $115.85 $51.23 -56%

Explore undervalued stocks

More undervalued Financial Services stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap Stocks

Frequently asked questions

Is Hellenic Exchanges - Athens Stock Exchange S.A (EXAE) undervalued?
As of Jun 26, 2026, our model estimates a fair value of €7.11 versus a price of €7.51 — about −5% (overvalued). Model-based estimate, not financial advice.
What is the fair value of EXAE?
Our 21-model fair value for Hellenic Exchanges - Athens Stock Exchange S.A is €7.11 (as of Jun 26, 2026), built from audited fundamentals. The current price is €7.51.
What is the quality score of EXAE?
Hellenic Exchanges - Athens Stock Exchange S.A has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Hellenic Exchanges - Athens Stock Exchange S.A (EXAE)?
Hellenic Exchanges - Athens Stock Exchange S.A reported trailing-twelve-month revenue of about €82.9M (latest available figure, as of Jun 26, 2026).
What is the net profit margin of EXAE?
The net profit margin of Hellenic Exchanges - Athens Stock Exchange S.A is about 38.2%, meaning it keeps roughly 38.2% 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.