Deutsche Börse AG

Factors to consider:

• Company pays dividends (annually): last record date 2025-05-16, amount 4.47$ (Y1.73%)
• Earnings for 6 months up through Q2 are below our estimates

Stock Forecast*

* forecast is subjective and experimental, should not be used for any investment decisions

Long term estimates were made for the period from 2024-12-31 to 2026-12-31

• 2024-12-31 to 2025-12-31 estimated range: [185.66$, 240.40$]
• 2025-12-31 to 2026-12-31 estimated range: [192.95$, 251.30$]

Financial Metrics affecting the DBOEF estimates:

• Negative: with PPE of 16.4 at the end of fiscal year the price was very high
• Positive: Operating profit margin, % of 40.80 > 18.64
• Positive: -2.95 < Return on assets ratio (scaled to [-100,100]) of 0.91
• Positive: Investing cash flow per share per price, % of -0.15 > -0.66
• Positive: 0.33 < Operating cash flow per share per price, % of 5.83
• Negative: Shareholder equity ratio, % of 4.86 <= 18.93
• Positive: Inventory ratio change, % of 0 <= 0
• Positive: Industry inventory ratio change (median), % of -0.73 <= -0.15
• Negative: Industry operating cash flow per share per price (median), % of 4.31 <= 5.52
• Positive: 0 < Industry earnings per price (median), % of 3.51