UBS points out that FlatexDEGIRO achieved EBITDA that was 20% higher thanks to higher commission income and a lower cost base. The analyst maintains his buy rating on the stock with a purchase target of €36.5.

flatexDEGIRO announced total revenue of €132m (+7% above consensus) and net profit of €39m (+16% above consensus) for Q3 2025. More than two-thirds of the increase in revenue is due to commission income, with the remainder coming from net interest income, according to UBS in its latest report.

flatexDEGIRO has raised its annual targets for the second time in 2025: revenue is now expected to be between €530m and €550m (compared to a previous range of €500m to €520m announced in July), and net income between €150m and €160m, compared to €125m to €140m previously.