Cash flow Deutsche Börse AG

Equities

DB1

DE0005810055

Financial & Commodity Market Operators

Market Closed - Xetra Other stock markets 11:35:20 2024-12-10 EST			5-day change	1st Jan Change
221.50 ^EUR	+0.45%		-0.18%	+18.77%

12-06	ThyssenKrupp CFO Files for Resignation to Assume Finance Chief Role at Deutsche Börse	MT
12-05	New Supervisory Board Chairwoman and Management Board members at Deutsche Borse	DP

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Published financial data: DEUTSCHE BÖRSE AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	3.05B	3.52B	4.22B	4.69B	5.13B
Finance Div. Revenues	246M	197M	143M	532M	962M
Gain (Loss) on Sale of Investment, Total (Rev)	-	-	-	48.7M	-
Other Revenues, Total	-	1.3M	1.9M	800K	1.4M
Total Revenues	3.3B	3.72B	4.36B	5.27B	6.1B
Cost of Goods Sold, Total	379M	543M	937M	996M	1.06B
Interest Expense - Finance Division	-	-	-	-	-
Gross Profit	2.92B	3.17B	3.43B	4.28B	5.04B
Selling General & Admin Expenses, Total	765M	839M	1.03B	1.26B	1.45B
Depreciation & Amortization - (IS)	224M	256M	282M	334M	385M
Other Operating Expenses	352M	358M	457M	489M	579M
Other Operating Expenses, Total	1.34B	1.45B	1.77B	2.08B	2.41B
Operating Income	1.58B	1.72B	1.65B	2.2B	2.63B
Interest Expense, Total	-11.3M	-97.7M	-69.2M	-79.9M	-111M
Interest And Investment Income	17.1M	50.3M	118M	24.8M	43M
Net Interest Expenses	5.8M	-47.4M	48.9M	-55.1M	-67.9M
Income (Loss) On Equity Invest.	-	-	-	-	1.8M
Currency Exchange Gains (Loss)	-1.1M	300K	-100K	1.7M	3.9M
Other Non Operating Income (Expenses)	-50M	-3.4M	-2.4M	-1.3M	-7.2M
EBT, Excl. Unusual Items	1.53B	1.67B	1.7B	2.14B	2.56B
Restructuring Charges	-42.1M	-36.4M	-25.4M	-31.9M	-55.7M
Merger & Related Restructuring Charges	-	-119M	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-15.8M
Gain (Loss) On Sale Of Assets	-	19.8M	-	12.5M	-
Asset Writedown	-1.8M	-8.2M	-11.8M	-14.6M	-33.7M
Other Unusual Items	-92.8M	-	46.9M	-	-
EBT, Incl. Unusual Items	1.4B	1.53B	1.71B	2.11B	2.45B
Income Tax Expense	363M	403M	444M	543M	655M
Earnings From Continuing Operations	1.04B	1.13B	1.26B	1.56B	1.8B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	1.04B	1.13B	1.26B	1.56B	1.8B
Minority Interest	-31.5M	-45.2M	-55.2M	-68.8M	-72.8M
Net Income - (IS)	1B	1.08B	1.21B	1.49B	1.72B
Net Income to Common Incl Extra Items	1B	1.08B	1.21B	1.49B	1.72B
Net Income to Common Excl. Extra Items	1B	1.08B	1.21B	1.49B	1.72B
Per Share Items
Net EPS - Basic	5.47	5.89	6.59	8.14	9.35
Basic EPS - Continuing Operations	5.47	5.89	6.59	8.14	9.35
Basic Weighted Average Shares Outstanding	183M	183M	184M	184M	184M
Net EPS - Diluted	5.47	5.89	6.58	8.12	9.34
Diluted EPS - Continuing Operations	5.47	5.89	6.58	8.12	9.34
Diluted Weighted Average Shares Outstanding	183M	183M	184M	184M	185M
Normalized Basic EPS	5.06	5.45	5.49	6.91	8.28
Normalized Diluted EPS	5.06	5.45	5.48	6.9	8.26
Dividend Per Share	2.9	3	3.2	3.6	3.8
Payout Ratio	49.31	49.25	45.52	39.32	38.37
American Depositary Receipts Ratio (ADR)	0.1	0.1	0.1	0.1	0.1
Supplemental Items
EBITDA	1.66B	1.86B	1.78B	2.33B	2.79B
EBITA	1.61B	1.76B	1.72B	2.28B	2.72B
EBIT	1.58B	1.72B	1.65B	2.2B	2.63B
EBITDAR	1.69B	1.9B	1.82B	2.38B	2.84B
Total Revenues (As Reported)	3.32B	3.76B	4.45B	5.33B	6.13B
Effective Tax Rate - (Ratio)	25.94	26.35	26	25.79	26.71
Current Domestic Taxes	245M	310M	313M	276M	313M
Current Foreign Taxes	133M	104M	130M	202M	333M
Total Current Taxes	378M	414M	444M	479M	645M
Deferred Domestic Taxes	-6.4M	-9.9M	-3.7M	62.3M	19.7M
Deferred Foreign Taxes	-9M	-2M	3.6M	2.4M	-10.2M
Total Deferred Taxes	-15.4M	-11.9M	-100K	64.7M	9.5M
Normalized Net Income	928M	999M	1.01B	1.27B	1.53B
Interest on Long-Term Debt	5.2M	5.5M	5.2M	6.7M	8.1M
Non-Cash Pension Expense	2.7M	2.2M	1.4M	1.4M	1.6M
Supplemental Operating Expense Items
Marketing Expenses	21.9M	15.6M	15.9M	26.5M	28.3M
Selling and Marketing Expenses	21.9M	15.6M	15.9M	26.5M	28.3M
Research And Development Expense From Footnotes	122M	143M	144M	182M	221M
Net Rental Expense, Total	33.3M	34.1M	40.3M	44.1M	49.6M
Imputed Operating Lease Interest Expense	1.14M	6.44M	3.85M	4.83M	6.25M
Imputed Operating Lease Depreciation	32.16M	27.66M	36.45M	39.27M	43.35M
Stock-Based Comp., SG&A Exp. (Total)	4.1M	4.8M	4.8M	6.3M	60.1M
Stock-Based Comp., Other (Total)	37.4M	17.8M	16.8M	29.8M	-
Total Stock-Based Compensation	41.5M	22.6M	21.6M	36.1M	60.1M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	888M	1.47B	1.03B	1.28B	1.66B
Short Term Investments	616M	256M	454M	578M	471M
Trading Asset Securities, Total	400K	-	11.6M	1M	14.3M
Total Cash And Short Term Investments	1.5B	1.72B	1.49B	1.85B	2.14B
Accounts Receivable, Total	7.21B	7.32B	8.94B	12.92B	18.72B
Other Receivables	376M	579M	2.66B	2.25B	928M
Notes Receivable	6.39B	6.18B	4.27B	5.61B	-
Total Receivables	13.98B	14.08B	15.87B	20.78B	19.65B
Prepaid Expenses	66.5M	67.6M	93M	128M	127M
Restricted Cash	29.99B	38.42B	78.54B	93.54B	53.67B
Other Current Assets, Total	79.92B	83.88B	106B	132B	139B
Total Current Assets	125B	138B	202B	248B	214B
Gross Property Plant And Equipment	780M	912M	1.09B	1.22B	1.25B
Accumulated Depreciation	-297M	-388M	-505M	-608M	-661M
Net Property Plant And Equipment	482M	523M	585M	615M	592M
Long-term Investments	832M	1.24B	2.11B	2.36B	2.32B
Goodwill	3.47B	3.96B	5.6B	5.91B	8.21B
Other Intangibles, Total	1.45B	1.64B	2.47B	2.54B	4.15B
Accounts Receivable Long-Term	-	-	-	-	-
Loans Receivable Long-Term	300K	-	-	-	-
Deferred Tax Assets Long-Term	124M	162M	140M	61.8M	73.3M
Deferred Charges Long-Term	-	-	-	5.7M	10.5M
Other Long-Term Assets, Total	5.35B	7.07B	9.57B	9.27B	8.06B
Total Assets	137B	153B	223B	269B	238B
Liabilities
Accounts Payable, Total	207M	389M	704M	2.04B	1.51B
Accrued Expenses, Total	130M	91.5M	101M	121M	464M
Short-term Borrowings	336M	1.75B	2.2B	752M	1.16B
Current Portion of Long-Term Debt	-	-	599M	-	-
Current Portion of Leases	41.5M	51.1M	63.6M	70.8M	85M
Current Income Taxes Payable	232M	267M	245M	335M	439M
Unearned Revenue Current, Total	24.4M	30.9M	136M	172M	203M
Other Current Liabilities	121B	133B	198B	242B	208B
Total Current Liabilities	122B	135B	202B	246B	211B
Long-Term Debt	2.29B	3.12B	3.04B	4.12B	7.1B
Long-Term Leases	341M	358M	423M	411M	384M
Unearned Revenue Non Current	-	-	-	13.6M	11.9M
Pension & Other Post Retirement Benefits	194M	222M	149M	23.9M	152M
Deferred Tax Liability Non Current	226M	217M	338M	388M	789M
Other Non Current Liabilities	5.56B	7.12B	9.68B	9.22B	7.77B
Total Liabilities	131B	146B	215B	260B	228B
Common Stock, Total	190M	190M	190M	190M	190M
Additional Paid In Capital	1.34B	1.35B	1.36B	1.37B	-
Retained Earnings	4.72B	5.18B	6.16B	7.34B	7.89B
Treasury Stock	-472M	-465M	-458M	-450M	-351M
Comprehensive Income and Other	-52.1M	-92.6M	-61.6M	22.7M	1.93B
Total Common Equity	5.74B	6.17B	7.19B	8.47B	9.66B
Minority Interest	375M	388M	549M	589M	439M
Total Equity	6.11B	6.56B	7.74B	9.06B	10.1B
Total Liabilities And Equity	137B	153B	223B	269B	238B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	183M	184M	184M	184M	185M
ECS Total Common Shares Outstanding	183M	184M	184M	184M	185M
Book Value / Share	31.27	33.61	39.18	46.11	52.19
Tangible Book Value	819M	572M	-869M	20.3M	-2.7B
Tangible Book Value Per Share	4.47	3.11	-4.73	0.11	-14.58
Total Debt	3B	5.28B	6.32B	5.36B	8.72B
Net Debt	1.5B	3.55B	4.83B	3.5B	6.58B
Debt Equivalent of Unfunded Proj. Benefit Obligation	193M	208M	224M	12M	48.1M
Debt Equivalent Oper. Leases	266M	273M	322M	353M	397M
Minority Interest, Total (Incl. Fin. Div)	375M	388M	549M	589M	439M
Equity Method Investments, Total	44.5M	89.5M	88.9M	112M	114M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	390M	440M	485M	546M	529M
Full Time Employees	6.16K	6.52K	10.2K	11.08K	14.5K
Part Time Employees	617	715	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	7.1M	9.2M	8.8M	6.3M	8.3M
Order Backlog	-	6B	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1B	1.08B	1.21B	1.49B	1.72B
Depreciation & Amortization - CF	93.9M	101M	116M	129M	146M
Amortization of Goodwill and Intangible Assets - (CF)	32.5M	38.5M	71M	83M	90.3M
Depreciation & Amortization, Total	126M	139M	186M	212M	236M
Amortization of Deferred Charges, Total - (CF)	98M	117M	95.4M	122M	148M
(Gain) Loss From Sale Of Asset	-1M	-19M	300K	-57.9M	100K
Asset Writedown & Restructuring Costs	1.8M	8.2M	11.8M	21.1M	33.7M
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	-30M	4M	-440M	638M	293M
Change In Accounts Receivable	-106M	-78.6M	-358M	-1.42B	485M
Change in Other Net Operating Assets	-167M	161M	204M	1.47B	-371M
Cash from Operations	926M	1.41B	909M	2.48B	2.55B
Capital Expenditure	-61.9M	-61.2M	-37.8M	-110M	-49.5M
Cash Acquisitions	-666M	-448M	-1.84B	-186M	-3.84B
Divestitures	100K	20.2M	-	27.1M	-
Sale (Purchase) of Intangible assets	-120M	-132M	-168M	-216M	-218M
Investment in Marketable and Equity Securities, Total	188M	-2.3M	-855M	-820M	-260M
Other Investing Activities, Total	-62.2M	-164M	735M	-103M	373M
Cash from Investing	-723M	-788M	-2.17B	-1.41B	-4B
Short Term Debt Issued, Total	-	-	2.7B	1.06B	130M
Long-Term Debt Issued, Total	-	946M	999M	1.08B	2.97B
Total Debt Issued	-	946M	3.7B	2.14B	3.1B
Short Term Debt Repaid, Total	-	-	-1.9B	-2.4B	-126M
Long-Term Debt Repaid, Total	-42.6M	-650M	-419M	-75.9M	-126M
Total Debt Repaid	-42.6M	-650M	-2.32B	-2.47B	-252M
Issuance of Common Stock	6.2M	9.1M	8.7M	11.9M	-
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-495M	-532M	-551M	-588M	-662M
Common & Preferred Stock Dividends Paid	-495M	-532M	-551M	-588M	-662M
Other Financing Activities, Total	631M	-26.6M	-40.9M	-37.8M	108M
Cash from Financing	99.4M	-254M	799M	-951M	2.29B
Foreign Exchange Rate Adjustments	3.9M	-8.9M	-6.3M	-37.8M	-1.7M
Miscellaneous Cash Flow Adjustments	-	-	-100K	-	-
Net Change in Cash	306M	361M	-467M	88.2M	844M
Supplemental Items
Cash Interest Paid	323M	352M	341M	660M	1.8B
Cash Income Tax Paid (Refund)	494M	382M	471M	365M	576M
Levered Free Cash Flow	-584M	-131M	1.88B	2.18B	1.21B
Unlevered Free Cash Flow	-577M	-70.41M	1.93B	2.23B	1.28B
Change In Net Working Capital	1.65B	1.23B	-796M	-817M	539M
Net Debt Issued / Repaid	-42.6M	295M	1.38B	-338M	2.85B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.66	0.74	0.55	0.56	0.65
Return on Total Capital	12.08	10.28	7.98	9.63	9.88
Return On Equity %	18.71	17.76	17.69	18.61	18.75
Return on Common Equity	19.02	18.14	18.11	19.06	19.01
Margin Analysis
Gross Profit Margin %	88.5	85.4	78.52	81.12	82.65
SG&A Margin	23.17	22.56	23.7	23.88	23.76
EBITDA Margin %	50.33	50.07	40.69	44.25	45.74
EBITA Margin %	48.86	47.36	39.52	43.2	44.56
EBIT Margin %	47.87	46.32	37.89	41.62	43.08
Income From Continuing Operations Margin %	31.37	30.27	28.99	29.64	29.47
Net Income Margin %	30.42	29.05	27.72	28.34	28.28
Net Avail. For Common Margin %	30.42	29.05	27.72	28.34	28.28
Normalized Net Income Margin	28.11	26.89	23.08	24.06	25.02
Levered Free Cash Flow Margin	-17.7	-3.54	43.19	41.42	19.86
Unlevered Free Cash Flow Margin	-17.48	-1.89	44.18	42.37	20.99
Asset Turnover
Asset Turnover	0.02	0.03	0.02	0.02	0.02
Fixed Assets Turnover	7.67	7.39	7.87	8.79	10.1
Receivables Turnover (Average Receivables)	0.34	0.49	0.52	0.43	0.27
Short Term Liquidity
Current Ratio	1.02	1.02	1	1.01	1.01
Quick Ratio	0.07	0.07	0.06	0.07	0.1
Operating Cash Flow to Current Liabilities