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Titel |
Bewertung |
| 22.08.25 05:05:27 |
Ist die Schwäche bei Nemetschek SE eine Warnung, dass der Markt sich irrt, wenn man die starken Finanzen der Firma bede |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Here's a 400-word summary of the text, translated into German:
**Zusammenfassung: Nemetschek – Starke Ergebnisse trotz kurzfristigem Kursverlust**
Obwohl Nemetschek (ETR:NEM) im letzten Monat einen Kursrückgang von 4,1 % verzeichnet hat, deuten die langfristigen finanziellen Ergebnisse auf eine vielversprechende Entwicklung hin. Die Analyse konzentriert sich auf das Return on Equity (ROE), ein entscheidender Faktor für Anleger.
**Was ist Return on Equity (ROE)?**
ROE misst die Rentabilität eines Unternehmens im Verhältnis zu den gehaltenen Eigenkapitalanteilen. Die Berechnung erfolgt mit der Formel: Nettoergebnis (aus laufender Geschäftstätigkeit) / Eigenkapital. Nemetschek weist einen ROE von 23 % (basierend auf den letzten zwölf Monaten bis Juni 2025) auf, was bedeutet, dass das Unternehmen für jedes Euro an Eigenkapital 0,23 Euro Gewinn erwirtschaftet.
**Warum ist ROE wichtig für das Wachstum?**
Ein hoher ROE, kombiniert mit der Fähigkeit, Gewinne zu halten und effektiv zu investieren, deutet auf ein höheres Wachstumspotenzial hin. Nemetschek’s ROE von 23% übertrifft das Durchschnitt der Branche (19%) und hat maßgeblich zum beeindruckenden Umsatzwachstum von 11% der letzten fünf Jahre beigetragen.
**Effiziente Kapitalnutzung**
Nemetschek verfügt über eine mittlere Ausschüttungsquote von 33%, was bedeutet, dass das Unternehmen 67% seiner Gewinne reinvestiert. Die langjährige Dividendenzahlung (mindestens 10 Jahre) unterstreicht das Engagement des Managements gegenüber den Aktionären. Die erwartete Ausschüttungsquote wird in den nächsten drei Jahren auf 25% sinken, während der ROE voraussichtlich stabil bleibt.
**Ausblick**
Insgesamt ist Nemetschek’s Performance positiv bewertet. Die hohe Gewinnmarge und die effiziente Kapitalnutzung begünstigen weiterhin das Wachstum. Analystenschätzungen erwarten, dass sich der Gewinn weiter steigern wird, was wiederum die Aktie positiv beeinflussen könnte.
**Fazit**
Trotz des kurzfristigen Kursrückgang, zeigt die Analyse, dass Nemetschek mit einem ROE von 23 % und einem erheblich überdurchschnittlichen Umsatzwachstum eine solide Grundlage für zukünftiges Wachstum bietet. |
| 13.08.25 13:39:22 |
SAP Aktienkursschwäche als „ungerechtfertigt“ gesehen |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Okay, here’s a summary of the Investing.com text in under 400 words, followed by a German translation:
**Summary (English)**
European software stocks experienced a significant sell-off on Tuesday, driven by a sudden shift in sentiment regarding the potential disruptive impact of Artificial Intelligence (AI). Despite a positive day for the broader Stoxx Europe 600 index, shares of companies like SAP, Nemetschek, and Sage plummeted, with declines of 7%, 11.1%, and 4.7% respectively.
Barclays analysts initially dismissed the sell-off as a fleeting narrative, but ultimately recognized its impact on stock prices. The core of the concern revolves around AI potentially lowering barriers to entry, automating workflows, and disintermediating traditional software solutions via chatbots. Concerns about shrinking addressable markets and budget reallocation towards AI were also cited.
However, Barclays argued against the sustained bearish view, emphasizing that many of these concerns are overstated. They highlighted that large software companies, particularly SAP, are well-positioned to benefit from AI, leveraging their existing complex solutions, regulatory expertise, and established customer relationships. They also pointed out that generative AI’s effectiveness is limited by the complexity and cost of implementation, especially in areas requiring precise solutions and regulatory compliance.
Furthermore, Barclays believes any shift in spending between traditional software and AI is likely cyclical rather than permanent. They expect companies to continue investing in technologies, including software, to improve efficiency. Barclays maintains a positive outlook on SAP and cautions that if the AI-related negativity persists, it could continue to negatively impact the company's valuation.
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**German Translation**
**Zusammenfassung**
Nachrichten von Investing.com – Europäische Softwareaktien fielen am Dienstag scharf, was Barclays als “plötzlichen Fokus auf die potenziell negative und disruptive Wirkung von KI auf Software” bezeichnete.
Die Aktien von SAP sanken um 7 %, während Nemetschek und Sage um 11,1 % bzw. 4,7 % fielen, obwohl der Stoxx Europe 600 Index um 0,2 % stieg.
Barclays sagte, die Panik habe „an einem ruhigen Sommertag ohne viel Substanz zunächst wie eine aufkommende Narrative gewirkt, sich aber letztendlich auf spürbare Weise auf die Aktienkurse auswirkte.“
Die Bank betonte, dass die Schlagzeilen „begrenzte Details“ darüber lieferten, was sich seit letzter Woche an der Bedrohung durch KI für Software geändert hatte.
Die Analysten sagten, sie „sehen weiterhin unsere Deckung im Allgemeinen und insbesondere SAP als einen von KI begünstigten Profitierer und betrachten den Aktienkursrückgang als unbegründet“.
Barclays stellte gängige pessimistische Argumente vor, von der Möglichkeit, dass KI die Eintrittsbarrieren senkt und Arbeitsabläufe automatisiert, bis hin zur Durchbrechung von Softwarelösungen durch Chatbots, dem Schrumpfen der adressierbaren Märkte und der Umleitung von Budgets in Richtung von KI, wobei sie betonte, dass jeder dieser Punkte Gegenargumente hat.
Beispielsweise könnte KI das Programmieren für neue Anwender günstiger machen, aber „große Softwareunternehmen profitieren ebenso und behalten Vorteile“ in komplexer Software, regulatorischen Hürden und Kundenbeziehungen.
Auch wenn generative KI einfache Werkzeuge ersetzen könnte, sagte Barclays, dass die meisten Lösungen in ihrem Portfolio „komplex, von regulatorischen Hürden profitiert und bei Fehlern hohe Kosten verursacht“.
Bezüglich der Budgets betrachtete die Bank jede Verschiebung zwischen Software und KI als zyklisch und nicht strukturell. Sie erwartet, dass Unternehmen weiterhin in Technologien investieren, einschließlich Software, um die Effizienz zu steigern. Barclays bekräftigte seine positive Sicht auf SAP und warnte, dass wenn die KI-Risiko-Narrative anhalten sollte, dies die Bewertung des Unternehmens weiterhin negativ beeinflussen könnte.
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| 08.08.25 04:10:06 |
Nemetschek's (ETR:NEM) Solid Earnings Have Been Accounted For Conservatively |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Explore Nemetschek's Fair Values from the Community and select yours
The market seemed underwhelmed by last week's earnings announcement from Nemetschek SE (ETR:NEM) despite the healthy numbers. Our analysis suggests that shareholders might be missing some positive underlying factors in the earnings report.
AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early.XTRA:NEM Earnings and Revenue History August 8th 2025
Zooming In On Nemetschek's Earnings
One key financial ratio used to measure how well a company converts its profit to free cash flow (FCF) is the accrual ratio. In plain english, this ratio subtracts FCF from net profit, and divides that number by the company's average operating assets over that period. This ratio tells us how much of a company's profit is not backed by free cashflow.
That means a negative accrual ratio is a good thing, because it shows that the company is bringing in more free cash flow than its profit would suggest. That is not intended to imply we should worry about a positive accrual ratio, but it's worth noting where the accrual ratio is rather high. Notably, there is some academic evidence that suggests that a high accrual ratio is a bad sign for near-term profits, generally speaking.
For the year to June 2025, Nemetschek had an accrual ratio of -0.21. That indicates that its free cash flow quite significantly exceeded its statutory profit. Indeed, in the last twelve months it reported free cash flow of €351m, well over the €188.2m it reported in profit. Nemetschek's free cash flow improved over the last year, which is generally good to see.
That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.
Our Take On Nemetschek's Profit Performance
As we discussed above, Nemetschek's accrual ratio indicates strong conversion of profit to free cash flow, which is a positive for the company. Because of this, we think Nemetschek's underlying earnings potential is as good as, or possibly even better, than the statutory profit makes it seem! And on top of that, its earnings per share have grown at 17% per year over the last three years. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. Ultimately, this article has formed an opinion based on historical data. However, it can also be great to think about what analysts are forecasting for the future. So feel free to check out our free graph representing analyst forecasts.
Story Continues
This note has only looked at a single factor that sheds light on the nature of Nemetschek's profit. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good sign of a quality business. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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| 04.08.25 04:18:33 |
Nemetschek SE Beat Analyst Schätzungen: Siehe, was der Consensus für dieses Jahr prognostiziert |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Die Investoren der Nemetschek SE (ETR:NEM) werden begeistert sein, wobei das Unternehmen mit seinen neuesten Ergebnissen einige starke Zahlen anwendet. Es war insgesamt ein positives Ergebnis, wobei die Umsatzerwartungen um 3,9 % auf 290 Mio. € steigen. Nemetschek berichtete auch einen gesetzlichen Gewinn von 0,845 €, was einen beeindruckenden 21% über dem, was die Analysten prognostiziert hatten. Nach dem Ergebnis haben die Analysten ihr Ergebnismodell aktualisiert, und es wäre gut zu wissen, ob sie denken, dass es eine starke Veränderung der Aussichten des Unternehmens gibt, oder wenn es wie üblich ist. So haben wir die neuesten gesetzlichen Konsensvorausschätzungen für die Nacherscheinung gesammelt, um zu sehen, was für das nächste Jahr vorrätig sein könnte.
Wir haben 21 US-Bestände gefunden, die prognostiziert werden, eine Dividendenrendite von über 6% im nächsten Jahr zu zahlen. Sehen Sie die vollständige Liste kostenlos. XTRA: NEM Ergebnis- und Umsatzwachstum 4. August 2025
Nach den neuesten Ergebnissen prognostizieren die 16 Analysten von Nemetschek im Jahr 2025 einen Umsatz von 1,19 Mrd. €. Dies wäre eine glaubwürdige 5,8% Verbesserung der Einnahmen im Vergleich zu den letzten 12 Monaten. Das gesetzliche Ergebnis pro Aktie wird prognostiziert, um 14% auf 1,86 € zu decken. Vor dem jüngsten Ergebnis waren die Analysten jedoch mit einem Umsatz von 1,17 Mrd. € und einem Gewinn je Aktie (EPS) von 1,83 € im Jahr 2025 rechnen. Es ist also ziemlich klar, dass, obwohl die Analysten ihre Schätzungen aktualisiert haben, es keine wesentlichen Änderungen der Erwartungen für das Unternehmen nach den neuesten Ergebnissen gab.
Sehen Sie unsere neueste Analyse für Nemetschek
Die Analysten bestätigten ihr Preisziel von €122, was zeigt, dass das Geschäft gut und im Einklang mit den Erwartungen durchgeführt wird. Es gibt aber eine andere Möglichkeit, über Preisziele nachzudenken, und das ist, die Palette der Preisziele, die von Analysten vorgetragen werden, zu betrachten, weil eine breite Palette von Schätzungen könnte einen vielfältigen Blick auf mögliche Ergebnisse für das Unternehmen vorschlagen. Auf Nemetschek gibt es einige Varianten-Wahrnehmungen, mit dem bullischen Analysten, der es bei 160 € und am bärsten bei 89,00 € pro Aktie bewertet. Dies ist eine ziemlich breite Verbreitung von Schätzungen, was darauf hindeutet, dass Analysten eine breite Palette von möglichen Ergebnissen für das Unternehmen prognostizieren.
Eine andere Art, wie wir diese Schätzungen sehen können, ist im Kontext des größeren Bildes, wie die Prognosen sich gegen die vergangene Leistung stapeln, und ob Prognosen mehr oder weniger bullisch gegenüber anderen Unternehmen der Branche sind. Der Zeitraum bis Ende 2025 bringt mehr von der gleichen, nach den Analysten, mit der Umsatzprognose zu 12% Wachstum auf jährlicher Basis. Das entspricht einem jährlichen Wachstum von 12 % in den letzten fünf Jahren. Vergleiche dies mit der breiteren Industrie, die Analysten Schätzungen (in Summe) vorschlagen, wird die Einnahmen 11% jährlich wachsen. Obwohl Nemetschek erwartet wird, seine Umsatzwachstumsrate zu halten, wächst sie nur um die Rate der größeren Industrie.
Geschichte geht weiter
Die Bottom Line
Das Wichtigste ist, wegzunehmen, dass es keine große Änderung der Einschätzung gab, mit den Analysten bestätigen, dass das Geschäft im Einklang mit ihren vorherigen Ergebnis pro Aktie Schätzungen. Glücklicherweise gab es keine realen Veränderungen der Umsatzprognosen, wobei das Unternehmen weiterhin im Einklang mit der gesamten Branche wachsen würde. Es gab keine wirkliche Änderung des Konsens-Preisziels, was darauf hindeutete, dass der Eigenwert des Unternehmens mit den neuesten Schätzungen keine wesentlichen Veränderungen erfahren hat.
In diesem Sinne wären wir nicht zu schnell zu einem Abschluss in Nemetschek gekommen. Die langfristige Ertragskraft ist wesentlich wichtiger als die Gewinne des nächsten Jahres. Wir haben Prognosen für Nemetschek bis 2027, und Sie können sie kostenlos auf unserer Plattform hier sehen.
Sie können auch unsere Analyse der Bilanz von Nemetschek sehen, und ob wir denken, dass Nemetschek zu viel Schulden trägt, kostenlos auf unserer Plattform hier.
Haben Sie Feedback zu diesem Artikel? Über den Inhalt? Kontaktieren Sie uns direkt. Alternativ, E-Mail Editorial-team (at) einfachwallst.com.
Dieser Artikel von Simply Wall St ist allgemein in der Natur. Wir liefern Kommentare basierend auf historischen Daten und Analystenprognosen nur unter Verwendung einer unvoreingenommenen Methodik und unsere Artikel sind nicht als Finanzberatung gedacht. Es stellt keine Empfehlung dar, Aktien zu kaufen oder zu verkaufen, und berücksichtigt nicht Ihre Ziele oder Ihre finanzielle Situation. Wir wollen Ihnen langfristig fokussierte Analyse durch grundlegende Daten bringen. Beachten Sie, dass unsere Analyse möglicherweise nicht in den neuesten preisempfindlichen Unternehmensankündigungen oder qualitativen Material ausschlaggebend ist. Einfach Wand St hat keine Position in den genannten Beständen.
Kommentare anzeigen |
| 02.08.25 08:18:30 |
Nemetschek Zweites Quartal 2025 Ergebnis: Beats Erwartungen |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
# Nemetschek Q2 2025 Ergebnisse: Starke Performance und zukünftiges Wachstum
Diese Zusammenfassung beschreibt die wichtigsten Ergebnisse der Ergebnisse von Nemetschek (ETR:NEM) des zweiten Quartals 2025, wie von Simply Wall St. berichtet. Das Unternehmen zeigte ein robustes Wachstum, das die Analystenerwartungen deutlich übertrifft und eine positive Marktreaktion auslöst.
Finanzielle Highlights
** Umsatz:** Nemetschek meldete einen erheblichen Umsatzanstieg von 294,7 Mio. €, was einem Wachstum von **30% gegenüber dem zweiten Quartal 2024 entspricht. Dies übertraf die Analystenschätzungen um 3,9%.
**Net Income:** Das Nettoeinkommen stieg auf 52,4 Mio. €, ein **25% Anstieg** gegenüber dem Vorquartal, getrieben durch die starke Umsatzentwicklung.
**Profit Margin:** Das Unternehmen pflegte eine gesunde Gewinnspanne von 18 %, die auf die Zahlen des Vorjahresquartals ausgerichtet war.
* **EPS:** Das Ergebnis je Aktie (EPS) erhöhte sich auf 0,45 € und übertraf das EPS des Vorquartals um 0,36 € um 21 %.
Wachstumsprognosen & Industrie Kontext
Nemetschek projiziert im Vorfeld eine beeindruckende Wachstumstrajektorie, prognostiziert ** 13 % durchschnittliches jährliches Wachstum* in den nächsten drei Jahren. Dies ist insbesondere höher als das geschätzte 11% Wachstum der deutschen Softwareindustrie.
Bewertung und Marktreaktion
Trotz der starken Leistung schlagen Analysten vor Nemetschek kann derzeit **überbewertet* sein, basierend auf einer umfassenden Analyse mit sechs verschiedenen Bewertungsmetriken. Der Aktienkurs des Unternehmens ist in der vergangenen Woche um 2,8% gestiegen.
Und was?
*Diese Informationen basieren auf historischen Daten und Analystenvorausschätzungen von Simply Wall St. Es ist entscheidend zu verstehen, dass dieser Artikel allgemeiner Natur ist und nicht als Finanzberatung betrachtet werden sollte. Das Unternehmen hat keine Position in den genannten Aktien. *
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**Word Count:** 348 Wörter |
| 14.07.25 13:23:49 |
Architecture software developer Nemetschek sees potential for $2.9 billion in acquisitions |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
By Alexander Hübner
MUNICH (Reuters) -The German architecture and construction software developer Nemetschek sees potential for further acquisitions of up to 2.5 billion euros ($2.92 billion), its Chief Executive Officer Yves Padrines told Reuters on Monday.
"With our balance sheet strength, and a possible capital increase if required, we would have the strength to invest between 2.0 and 2.5 billion euros in takeovers," Padrines said in an interview.
"We are looking at everything in the Planning and Design and Build and Construct segments," he added, saying that the bigger acquisitions would fall under the latter, while Planning & Design would see smaller deals.
Nemetschek generates around 42% of its revenue in the U.S. but Padrines played down worries over President Donald Trump's tariff and migration policies.
"There are no tariffs on software," he said.
In July last year, Nemetschek, which rivals NASDAQ-listed Autodesk in architecture software, acquired U.S. software developer GoCanvas for around 700 million euros, the largest acquisition in its history.
The purchase is still putting pressure on margins, but Padrines believes that is about to change: "GoCanvas will adjust to our margin level over the years, so we expect an EBITDA margin in the 30s in the coming years," said Padrines. Last year, it was at 30.2%.
With its 14.6 billion euro market cap, the company is seen as a candidate for trading on the country's leading index DAX.
Padrines expects the company to grow sales at an average rate of around 15% in the coming years, more than the broader construction software market, which is expected to grow by just under double digits.
"The construction industry offers huge potential. I used to say that only fishing and hunting are less digitalized than the construction industry. In the meantime, digitalization has even progressed in fishing," Padrines said.
Architects and engineering firms are also conservative when it comes to switching software licenses to a subscription model, which Nemetschek is advancing, Padrines says.
"The shift there will take another few more years," he said.
($1 = 0.8557 euros)
(Reporting by Alexander Hübner, writing by Marleen Kaesebier in Gdansk; editing by Matthias Williams and Susan Fenton)
View Comments |
| 22.04.25 12:38:48 |
With EPS Growth And More, Nemetschek (ETR:NEM) Makes An Interesting Case |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks' without any revenue, let alone profit. But the reality is that when a company loses money each year, for long enough, its investors will usually take their share of those losses. While a well funded company may sustain losses for years, it will need to generate a profit eventually, or else investors will move on and the company will wither away.
If this kind of company isn't your style, you like companies that generate revenue, and even earn profits, then you may well be interested in Nemetschek (ETR:NEM). Even if this company is fairly valued by the market, investors would agree that generating consistent profits will continue to provide Nemetschek with the means to add long-term value to shareholders.
AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early.
How Fast Is Nemetschek Growing?
Generally, companies experiencing growth in earnings per share (EPS) should see similar trends in share price. So it makes sense that experienced investors pay close attention to company EPS when undertaking investment research. Over the last three years, Nemetschek has grown EPS by 9.3% per year. That's a pretty good rate, if the company can sustain it.
Top-line growth is a great indicator that growth is sustainable, and combined with a high earnings before interest and taxation (EBIT) margin, it's a great way for a company to maintain a competitive advantage in the market. EBIT margins for Nemetschek remained fairly unchanged over the last year, however the company should be pleased to report its revenue growth for the period of 17% to €996m. That's encouraging news for the company!
You can take a look at the company's revenue and earnings growth trend, in the chart below. For finer detail, click on the image.XTRA:NEM Earnings and Revenue History April 22nd 2025
View our latest analysis for Nemetschek
Of course the knack is to find stocks that have their best days in the future, not in the past. You could base your opinion on past performance, of course, but you may also want to check this interactive graph of professional analyst EPS forecasts for Nemetschek.
Are Nemetschek Insiders Aligned With All Shareholders?
Since Nemetschek has a market capitalisation of €12b, we wouldn't expect insiders to hold a large percentage of shares. But we do take comfort from the fact that they are investors in the company. Notably, they have an enviable stake in the company, worth €986m. Holders should find this level of insider commitment quite encouraging, since it would ensure that the leaders of the company would also experience their success, or failure, with the stock.
Story Continues
Is Nemetschek Worth Keeping An Eye On?
One important encouraging feature of Nemetschek is that it is growing profits. To add an extra spark to the fire, significant insider ownership in the company is another highlight. The combination definitely favoured by investors so consider keeping the company on a watchlist. Of course, identifying quality businesses is only half the battle; investors need to know whether the stock is undervalued. So you might want to consider this freediscounted cashflow valuation of Nemetschek.
While opting for stocks without growing earnings and absent insider buying can yield results, for investors valuing these key metrics, here is a carefully selected list of companies in DE with promising growth potential and insider confidence.
Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
View Comments |
| 28.03.25 04:35:03 |
Why Nemetschek's (ETR:NEM) Earnings Are Better Than They Seem |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
The market seemed underwhelmed by last week's earnings announcement from Nemetschek SE (ETR:NEM) despite the healthy numbers. We did some analysis to find out why and believe that investors might be missing some encouraging factors contained in the earnings.
AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early.XTRA:NEM Earnings and Revenue History March 28th 2025
A Closer Look At Nemetschek's Earnings
One key financial ratio used to measure how well a company converts its profit to free cash flow (FCF) is the accrual ratio. The accrual ratio subtracts the FCF from the profit for a given period, and divides the result by the average operating assets of the company over that time. You could think of the accrual ratio from cashflow as the 'non-FCF profit ratio'.
That means a negative accrual ratio is a good thing, because it shows that the company is bringing in more free cash flow than its profit would suggest. While it's not a problem to have a positive accrual ratio, indicating a certain level of non-cash profits, a high accrual ratio is arguably a bad thing, because it indicates paper profits are not matched by cash flow. That's because some academic studies have suggested that high accruals ratios tend to lead to lower profit or less profit growth.
Nemetschek has an accrual ratio of -0.13 for the year to December 2024. That implies it has good cash conversion, and implies that its free cash flow solidly exceeded its profit last year. Indeed, in the last twelve months it reported free cash flow of €293m, well over the €175.4m it reported in profit. Nemetschek's free cash flow improved over the last year, which is generally good to see.
That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.
Our Take On Nemetschek's Profit Performance
As we discussed above, Nemetschek has perfectly satisfactory free cash flow relative to profit. Because of this, we think Nemetschek's earnings potential is at least as good as it seems, and maybe even better! And the EPS is up 30% annually, over the last three years. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. While it's really important to consider how well a company's statutory earnings represent its true earnings power, it's also worth taking a look at what analysts are forecasting for the future. Luckily, you can check out what analysts are forecasting by clicking here.
Story Continues
This note has only looked at a single factor that sheds light on the nature of Nemetschek's profit. But there is always more to discover if you are capable of focussing your mind on minutiae. Some people consider a high return on equity to be a good sign of a quality business. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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| 23.03.25 06:42:40 |
The Nemetschek SE (ETR:NEM) Full-Year Results Are Out And Analysts Have Published New Forecasts |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Nemetschek SE (ETR:NEM) shareholders are probably feeling a little disappointed, since its shares fell 3.3% to €112 in the week after its latest annual results. Nemetschek reported in line with analyst predictions, delivering revenues of €996m and statutory earnings per share of €1.52, suggesting the business is executing well and in line with its plan. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Nemetschek after the latest results.XTRA:NEM Earnings and Revenue Growth March 23rd 2025
After the latest results, the 17 analysts covering Nemetschek are now predicting revenues of €1.17b in 2025. If met, this would reflect a decent 18% improvement in revenue compared to the last 12 months. Per-share earnings are expected to grow 20% to €1.82. In the lead-up to this report, the analysts had been modelling revenues of €1.17b and earnings per share (EPS) of €1.85 in 2025. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.
See our latest analysis for Nemetschek
There were no changes to revenue or earnings estimates or the price target of €111, suggesting that the company has met expectations in its recent result. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. There are some variant perceptions on Nemetschek, with the most bullish analyst valuing it at €142 and the most bearish at €68.00 per share. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.
These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Nemetschek's past performance and to peers in the same industry. The analysts are definitely expecting Nemetschek's growth to accelerate, with the forecast 18% annualised growth to the end of 2025 ranking favourably alongside historical growth of 11% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 11% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Nemetschek to grow faster than the wider industry.
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The Bottom Line
The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have estimates - from multiple Nemetschek analysts - going out to 2027, and you can see them free on our platform here.
It might also be worth considering whether Nemetschek's debt load is appropriate, using our debt analysis tools on the Simply Wall St platform, here.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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| 21.03.25 07:03:24 |
Nemetschek SE (NEMTF) (FY 2024) Earnings Call Highlights: Strong Revenue Growth and Strategic ... |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Total Revenue: EUR996 million, organic growth of 14%. Revenue Contribution from GoCanvas: Added around 300 basis points to revenue growth. Annual Recurring Revenue (ARR) Growth: 34.6% organic, 41.9% including GoCanvas. EBITDA: EUR301 million, growth of 16.8%. Reported EBITDA Margin: 32%, organic EBITDA margin 31.1%. Recurring Revenue Share: Increased to 86.5% of total revenue. Q4 Revenue Growth: 32.5% to EUR290.9 million, organic growth of 26.2%. Q4 EBITDA: EUR95.1 million, margin of 32.7%. EPS Increase: 9.6% year-over-year. Equity Ratio: 44.2%. Net Debt: EUR295 million. Design Segment Revenue Growth: 13.1% to EUR489 million. Build Segment Revenue Growth: 28.4%, including GoCanvas. Managed Segment Revenue Decline: 1.5%. Media Segment Revenue Growth: 7.8% to EUR120.1 million. International Revenue Growth: Americas 24%, Asia Pacific 28%. 2025 Revenue Growth Outlook: 17% to 19%, including 350 basis points from GoCanvas. 2025 EBITDA Margin Outlook: Around 31%.
Warning! GuruFocus has detected 5 Warning Sign with NEMTF.
Release Date: March 20, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
Nemetschek SE (NEMTF) achieved a total revenue of EUR 996 million in 2024, with organic growth of 14%, exceeding their guidance range of 10% to 11%. The company's annual recurring revenue (ARR) grew by 34.6% organically, surpassing the target of more than 25%. The acquisition of GoCanvas contributed significantly, adding around 300 basis points to revenue growth. Nemetschek SE (NEMTF) reported an EBITDA growth of 16.8% to EUR 301 million, with margins slightly above the forecast range. The transition to a subscription and SaaS-centric business model resulted in recurring revenues reaching a new high of 86.5% of total revenue.
Negative Points
The construction industry faces global challenges and economic uncertainties, impacting Nemetschek SE (NEMTF)'s market environment. The integration of GoCanvas, while progressing, still presents challenges and dilutive effects on profitability. The design segment faces prolonged sales cycles and hesitations in European markets, particularly in Germany. The transition to subscription models in the design segment may lead to temporary accounting-related impacts. The company's growth strategy requires continuous investment, potentially limiting immediate margin expansion.
Q & A Highlights
Q: How do you view the current demand environment, particularly in the US and Germany, and what are your expectations for organic growth seasonality in 2025? A: Yves Padrines, CEO, explained that while there are potential changes, the market conditions in Q1 2025 are similar to 2024. The US market remains strong despite some indicators suggesting otherwise, and the German infrastructure spending fund could have positive effects, though it's too early to tell. Organic growth seasonality will see some volatility, with strong demand in Q1, especially in the build segment, and a higher comparison base in Q4 2025.
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Q: Can you provide insights into the revenue growth outlook beyond 2025, and how do you prioritize margin improvements versus growth? A: Yves Padrines, CEO, stated that while specific guidance for 2026 and beyond isn't provided, they foresee attractive double-digit growth potential in the coming years, with a focus on mid-teens growth. The company prioritizes growth over margin expansion, with continued investments in innovation, AI, and market expansion.
Q: What is the status of the GoCanvas integration, and are there any joint offerings planned? A: Yves Padrines, CEO, reported that the integration of GoCanvas is progressing as planned, with strong collaboration between teams. Joint offerings are being well-received, particularly by large resellers, and cross-selling between GoCanvas and Bluebeam is starting to gain traction.
Q: How is the transition to subscription models progressing in the design segment, and what impact do AI functionalities have on monetization? A: Yves Padrines, CEO, noted that the transition to subscription models is accelerating, with brands like Graphisoft and Vectorworks stopping perpetual license sales. AI functionalities are being integrated into premium packages, enhancing user experience and driving subscription adoption, though industry-wide AI usage remains below 10%.
Q: What are the expectations for the build division's growth trajectory post-transition and GoCanvas integration? A: Yves Padrines, CEO, expects the build division to achieve 20%-plus revenue growth in 2025, normalizing to mid to high-teens growth over time, supported by strong demand and the successful integration of GoCanvas.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
This article first appeared on GuruFocus.
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