Financials IONOS Group SE Deutsche Boerse AG

Equities

IOS

DE000A3E00M1

IT Services & Consulting

Real-time Estimate Tradegate Other stock markets 01:28:50 2024-05-23 pm EDT			5-day change	1st Jan Change
26.65 ^EUR	+2.30%		+3.78%	+51.98%

May. 09	IONOS : Buy rating from Deutsche Bank	ZD
May. 09	IONOS : JP Morgan maintains a Buy rating	ZD

Valuation

Fiscal Period: December	2023	2024	2025	2026
Capitalization ¹	2,444	3,640	-	-
Enterprise Value (EV) ¹	2,887	4,550	4,381	4,107
P/E ratio	14.2 x	20.2 x	15.8 x	12.8 x
Yield	-	-	-	-
Capitalization / Revenue	1.72 x	2.31 x	2.11 x	1.94 x
EV / Revenue	2.03 x	2.88 x	2.54 x	2.19 x
EV / EBITDA	7.4 x	10 x	8.47 x	7.12 x
EV / FCF	12.4 x	27.3 x	18.6 x	15.1 x
FCF Yield	8.06%	3.67%	5.39%	6.64%
Price to Book	-	19.9 x	8.91 x	5.41 x
Nbr of stocks (in thousands)	140,000	140,000	-	-
Reference price ²	17.46	26.00	26.00	26.00
Announcement Date	3/27/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	-	1,293	1,424	1,578	1,725	1,877
EBITDA ¹	-	345.6	390.3	453.2	517.2	577
EBIT ¹	-	208	277.5	336	386.6	441.9
Operating Margin	-	16.09%	19.49%	21.29%	22.41%	23.55%
Earnings before Tax (EBT) ¹	98.14	112	215.3	264.7	327.5	389.2
Net income ¹	60.92	73.77	174.2	180.4	230.3	274.7
Net margin	-	5.71%	12.24%	11.43%	13.35%	14.63%
EPS ²	-	0.5300	1.230	1.285	1.643	2.028
Free Cash Flow ¹	-	91.28	232.8	166.8	235.9	272.6
FCF margin	-	7.06%	16.35%	10.57%	13.68%	14.53%
FCF Conversion (EBITDA)	-	26.41%	59.65%	36.8%	45.61%	47.25%
FCF Conversion (Net income)	-	123.73%	133.61%	92.46%	102.44%	99.26%
Dividend per Share ²	-	-	-	-	-	-
Announcement Date	3/30/22	3/31/23	3/27/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3
Net sales ¹	353.8	354.8	350.1	365	373	390.9	388.4
EBITDA	86.2	114.6	105.5	83.97	105.8	-	-
EBIT ¹	65.87	84.51	74.49	52.6	74.16	95.44	85.62
Operating Margin	18.62%	23.82%	21.28%	14.41%	19.88%	24.42%	22.05%
Earnings before Tax (EBT)	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-
Net margin	-	-	-	-	-	-	-
EPS	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	5/12/23	8/3/23	11/15/23	3/27/24	5/8/24	-	-

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	1,334	443	910	741	467
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	3.86 x	1.135 x	2.009 x	1.432 x	0.8085 x
Free Cash Flow ¹	-	91.3	233	167	236	273
ROE (net income / shareholders' equity)	-	-	-	228%	78.4%	53.9%
ROA (Net income/ Total Assets)	-	5.28%	11.1%	11.6%	13.7%	15.3%
Assets ¹	-	1,398	1,569	1,552	1,677	1,794
Book Value Per Share ²	-	-1.160	-	1.310	2.920	4.800
Cash Flow per Share ²	-	1.350	2.220	1.970	2.430	2.830
Capex ¹	-	97.1	81.7	102	112	119
Capex / Sales	-	7.51%	5.74%	6.44%	6.49%	6.35%
Announcement Date	3/30/22	3/31/23	3/27/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for IONOS Group SE

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

26 EUR

Average target price

26.26 EUR

Spread / Average Target

+1.02%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Cloud Computing Services

	1st Jan change	Capi.
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CLOUDFLARE, INC.	-10.53%	25.48B
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DYNATRACE, INC.	-12.27%	14.18B
QUALYS, INC.	-25.19%	5.37B
KINGDEE INTERNATIONAL SOFTWARE GROUP COMPANY LIMITED	-24.69%	4.06B
DIGITALOCEAN HOLDINGS, INC.	+0.93%	3.44B
ALKAMI TECHNOLOGY, INC.	+12.41%	2.72B
BEIJING SINNET TECHNOLOGY CO.,LTD	-9.47%	2.25B

Cloud Computing Services