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TeamViewer SE (TMVWF) hat einen starken bereinigten EBITDA-Marge von 43,2% vermeldet. Die Firma sah eine signifikante Verbesserung im Geschäftsmomentum, getrieben durch die DEX-Wendung und die Adoption von TeamViewer One. TeamViewer SE (TMVWF) hat eine strategische Partnerschaft mit ServiceNow eingegangen, was ihr Marktposition und Kundenreichweite erweitert. Die Firma erhielt externe Anerkennung von Branchenanalysten, was ihre Führung in digitalen Mitarbeitererfahrungstools unterstreicht. TeamViewer SE (TMVWF) erreichte ein Meilenstein mit FedRAMP in Progress-Bezeichnung, was Zugang zum US-föderalen Markt ermöglicht.

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TeamViewer und ServiceNow haben eine mehrjährige Partnerschaft vereinbart, um die Digital Employee Experience und Remote Connectivity von TeamViewer mit der ServiceNow AI-Plattform zu verbinden. Experian erweitert seine Nutzung der ServiceNow AI-Plattform, um breitere AI-getriebene Workflows und Automatisierung in seinem Unternehmen zu unterstützen.

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TeamViewer (XTRA:TMV)-Aktien ziehen frische Aufmerksamkeit auf sich, nachdem das Unternehmen als einziger Best-in-Class-Anbieter im PAC-Innovation-Radar für verbundene Arbeiter in Europa zum dritten Mal in Folge ausgezeichnet wurde. Die neueste Anerkennung scheint zu kommen, als der Momentum im TeamViewer-Aktienpreis gemischt ist, mit einem 30-Tage-Preisrückgang von 14,72% und einem 90-Tage-Preisrückgang von 19,11%, aber einem Jahreszinsenrückgang von 5,08% und einem 1-Jahres-Gesamtaktienrendite-Rückgang von 39,77%. Dies deutet darauf hin, dass das Unternehmen in den letzten Jahren schwächer für Aktionäre gearbeitet hat.

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Die Integration der Endpunkt-Fähigkeiten von TeamViewer mit der AI-Plattform von ServiceNow ermöglicht end-to-end-agente IT-Abläufe. Durch die Zusammenarbeit können Kunden ihre Unternehmen von manueller Intervention hin zu autonomen Management mit end-to-end-agenter Abläufen übergehen.

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Der Markt war mit dem jüngsten Gewinnbericht von TeamViewer SE (ETR:TMV) zufrieden, trotz der weichen Gewinnzahlen. Wir denken, dass Investoren auf positive Faktoren hinaussehen, die über die Gewinnzahlen hinausgehen.

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TeamViewer SE (TMVWF) hat ein starkes Ergebnis mit einem angepassten EBITDA-Marge von 45,3% erreicht, das Erwartungen übertroffen hat. Der Enterprise-ARR stieg um 18% im Vergleich zum Vorjahr, ohne DEX, was auf starkes untergeordnetes Wachstum hinweist. TeamViewer One gewinnt an Geschäftsmomentum, mit einem ARR-Doppelung Viertel über Viertel. Die Firma sieht erhebliche Traction bei ihren AI-Fähigkeiten, mit mehr als 1,3 Millionen AI-Sitzungen generiert.

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Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St.

Bechtle’s industrial digitalization push comes into focus

Bechtle (XTRA:BC8) is drawing fresh attention after teaming up with TeamViewer at Hannover Messe to showcase secure, plug-and-play hardware that connects industrial systems with remote access, artificial intelligence and augmented reality tools.

See our latest analysis for Bechtle.

Despite the fresh focus on industrial digitalization, Bechtle’s recent share price performance has been mixed. A 5.65% 7 day share price return contrasts with a 31.76% 90 day share price decline and a 9.78% 1 year total shareholder return decline, suggesting momentum has been under pressure even as new partnerships emerge.

If this push into AI enabled industrial IT has your attention, it can be helpful to compare Bechtle with other companies reshaping automation and remote operations by scanning 34 robotics and automation stocks

With Bechtle trading at €30.68 and sitting at roughly a 33% discount to both one intrinsic value estimate and the average analyst price target of €40.58, the question is whether this signals upside potential or if markets already reflect expectations for its future growth.

Most Popular Narrative: 31.6% Undervalued

Bechtle’s most followed valuation narrative points to a fair value of €44.88 per share, comfortably above the latest close at €30.68. This highlights the difference between the current price and those longer term assumptions.

Investment in IT infrastructure, including a cloud platform and AI tools, is designed to enhance service offerings and operational efficiency, potentially driving higher revenue and earnings through increased demand and productivity.

Read the complete narrative.Read the complete narrative.

Want to see what is behind that valuation gap? The narrative places emphasis on steadier growth in revenue, margins and earnings without assuming dramatic step changes. Curious which forecast mix of top line expansion and profitability has to line up for that fair value to hold?

Result: Fair Value of €44.88 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, that upside story still depends on SME customers increasing IT spending and key partners like Microsoft avoiding further incentive changes that could pressure margins.

Find out about the key risks to this Bechtle narrative.

Next Steps

The mix of underperformance and a potential valuation gap can feel confusing, so it helps to scan the numbers yourself, pressure test the optimism in this narrative, and then weigh the 4 key rewards

Story Continues

Looking for more investment ideas?

If you stop your research with a single stock, you miss chances that could fit your goals even better. Broaden your watchlist with a few focused screens.

Target potential value setups by scanning companies that look mispriced on quality and fundamentals through the 221 high quality undervalued stocks. Strengthen your search for income by reviewing companies built around reliable cash returns to shareholders via the 477 dividend fortresses. Prioritize resilience by checking out businesses with robust financial footing using the 298 resilient stocks with low risk scores.

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.

Companies discussed in this article include BC8.DE.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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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 600-word summary of the Simply Wall St article about TeamViewer, followed by a German translation:

Summary (600 Words)

This Simply Wall St analysis focuses on TeamViewer’s fair value, which currently stands at €8.57 per share, and highlights the significant divergence in analyst opinions surrounding the company’s future prospects. The article dissects recent research reports, revealing a split between bullish and bearish perspectives.

The Valuation Range: Following a round of updates, analyst price targets for TeamViewer now range widely, from approximately €5 to above €8. This disparity reflects a fundamental disagreement about the company’s long-term potential and the speed at which it can achieve it.

Bullish Sentiment: Morgan Stanley and DZ Bank have adopted a more optimistic outlook. Morgan Stanley, while trimming its target slightly to €8.25, maintained an ‘Equal Weight’ rating, indicating continued belief in the company’s valuation potential. DZ Bank explicitly stated that the current price doesn’t fully capture TeamViewer’s future execution capabilities.

Bearish Sentiment: Barclays significantly reduced its target from €7 to €5, flagging concerns about the potential impact of Artificial Intelligence (AI) on the company's prospects. Goldman Sachs also lowered its target to €5 with a ‘Neutral’ rating, emphasizing the need for clearer evidence regarding growth, profitability, and capital allocation before assigning higher valuation multiples.

Key Factors Driving the Disagreement: Analysts are weighing several factors, including TeamViewer’s expansion into AI, digital workplace management, and industrial IoT; the potential for deeper enterprise integration through partnerships like 1E and SAP; and the inherent risks associated with relying on small and medium-sized businesses (SMBs) and competitive pressures.

Fair Value Adjustments: Despite the differing opinions, the core fair value remains at €8.57. The analysis includes slight adjustments to key assumptions: Revenue growth is modestly increased to 3.80% (from 3.76%), net profit margin is marginally reduced to 20.31% (from 20.34%), and the future Price-to-Earnings (P/E) ratio is adjusted to 12.24x (from 10.49x), reflecting a higher expected earnings level. A slight reduction in the discount rate (from 9.77% to 9.61%) also affects the calculated present value of future cash flows.

Narrative Tracking: Simply Wall St emphasizes the importance of tracking the "Narrative" – a dynamic representation of the investment case that connects company forecasts, financial data, and risk assessments. This narrative constantly evolves as new information emerges.

Recent Developments: The article also highlights recent company news, including TeamViewer's inclusion in the Germany SDAX index and its removal from the MDAX. It details an upgraded integration between TeamViewer Tensor and Microsoft Intune and a new partnership with Thrive.

Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. The company has no position in any stocks mentioned.

German Translation (approx. 600 words)

Zusammenfassung: Bessere Anlageentscheidungen mit den visuellen Tools von Simply Wall St

Dieser Bericht von Simply Wall St konzentriert sich auf den fairen Wert von TeamViewer, der derzeit bei 8,57 € pro Aktie liegt, und hebt die erhebliche Diskrepanz zwischen den Meinungen der Analysten bezüglich der zukünftigen Aussichten des Unternehmens hervor. Der Artikel analysiert aktuelle Forschungsberichte und enthüllt eine Spaltung zwischen optimistischer und pessimistischer Einschätzung.

Der Wertbereich: Nach einer Reihe von Aktualisierungen haben Analysten-Kursziele für TeamViewer einen großen Bereich von etwa 5 € bis über 8 € erreicht. Diese Diskrepanz spiegelt eine grundlegende Uneinigkeit über das langfristige Potenzial des Unternehmens und die Geschwindigkeit wider, mit der es dieses erreichen kann.

Optimistische Einschätzung: Morgan Stanley und DZ Bank haben eine positivere Sichtweise eingenommen. Morgan Stanley, obwohl es sein Ziel leicht angehoben hat, hält an einem “Equal Weight”-Rating fest, was auf eine anhaltende Überzeugung von der Bewertungspotenzial des Unternehmens hindeutet. DZ Bank gab explizit an, dass der aktuelle Preis das zukünftige Durchführungsvermögen von TeamViewer nicht vollständig widerspiegelt.

Pessimistische Einschätzung: Barclays senkte sein Ziel von 7 € auf 5 €, wobei Bedenken hinsichtlich der möglichen Auswirkungen von Künstlicher Intelligenz (KI) auf die Perspektiven des Unternehmens geäußert wurden. Goldman Sachs senkte ebenfalls sein Ziel auf 5 € mit einer “Neutral”-Bewertung und betonte die Notwendigkeit klarer Beweise für Wachstum, Rentabilität und Kapitalallokation, bevor höhere Bewertungsmultiplikatoren zugewiesen werden können.

Wesentliche Faktoren, die die Uneinigkeit erklären: Analysten berücksichtigen mehrere Faktoren, darunter TeamViewers Expansion in den Bereichen KI, digitale Arbeitsplatzverwaltung und industrielle IoT; das Potenzial für eine tiefere Unternehmensintegration durch Partnerschaften wie 1E und SAP; und die inhärenten Risiken, die mit dem Vertrauen auf kleine und mittlere Unternehmen (KMU) und Wettbewerbsdruck verbunden sind.

Anpassung des fairen Werts: Trotz der unterschiedlichen Meinungen bleibt der Kern des fairen Werts bei 8,57 € unverändert. Die Analyse enthält geringfügige Anpassungen wichtiger Annahmen: Das Umsatzwachstums-Annahme wird moderat erhöht auf 3,80 % (von 3,76 %), die Nettogewinnmarge wird marginal reduziert auf 20,31 % (von 20,34 %) und das zukünftige Kurs-Gewinn-Verhältnis (KGV) wird auf 12,24x (von 10,49x) angepasst, was höhere erwartete Gewinne widerspiegelt. Eine geringfügige Reduzierung des Abzinsungssatzes (von 9,77 % auf 9,61 %) beeinflusst ebenfalls den berechneten aktuellen Wert zukünftiger Cashflows.

Verfolgung der Erzählung: Simply Wall St betont die Bedeutung der Verfolgung der “Erzählung” – eine dynamische Darstellung des Anlagefalls, die Unternehmensprognosen, Finanzdaten und Risseikschätzungen miteinander verbindet. Diese Erzählung entwickelt sich ständig weiter, wenn neue Informationen verfügbar werden.

Aktuelle Entwicklungen: Der Artikel hebt auch jüngste Unternehmensnachrichten hervor, darunter die Aufnahme von TeamViewer in den Deutschland SDAX Index und seine Entfernung aus dem MDAX. Es werden eine verbesserte Integration zwischen TeamViewer Tensor und Microsoft Intune sowie eine neue Partnerschaft mit Thrive beschrieben.

Haftungsausschluss: Diese Analyse dient nur zu Informationszwecken und stellt keine Finanzberatung dar. Das Unternehmen hält keine Position in den genannten Aktien.

Would you like me to elaborate on any specific aspect of this summary or translation?

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The most recent earnings report from TeamViewer SE (ETR:TMV) was disappointing for shareholders. However, our analysis suggests that the soft headline numbers are getting counterbalanced by some positive underlying factors.

Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit.XTRA:TMV Earnings and Revenue History March 26th 2026

Zooming In On TeamViewer's Earnings

In high finance, the key ratio used to measure how well a company converts reported profits into free cash flow (FCF) is the accrual ratio (from cashflow). In plain english, this ratio subtracts FCF from net profit, and divides that number by the company's average operating assets over that period. 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. 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. That's because some academic studies have suggested that high accruals ratios tend to lead to lower profit or less profit growth.

TeamViewer has an accrual ratio of -0.15 for the year to December 2025. 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 €227m, well over the €118.2m it reported in profit. TeamViewer did see its free cash flow drop year on year, which is less than ideal, like a Simpson's episode without Groundskeeper Willie. Having said that, there is more to the story. We can see that unusual items have impacted its statutory profit, and therefore the accrual ratio.

See our latest analysis for TeamViewer

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.

How Do Unusual Items Influence Profit?

TeamViewer's profit was reduced by unusual items worth €31m in the last twelve months, and this helped it produce high cash conversion, as reflected by its unusual items. In a scenario where those unusual items included non-cash charges, we'd expect to see a strong accrual ratio, which is exactly what has happened in this case. While deductions due to unusual items are disappointing in the first instance, there is a silver lining. When we analysed the vast majority of listed companies worldwide, we found that significant unusual items are often not repeated. And, after all, that's exactly what the accounting terminology implies. If TeamViewer doesn't see those unusual expenses repeat, then all else being equal we'd expect its profit to increase over the coming year.

Story Continues

Our Take On TeamViewer's Profit Performance

Considering both TeamViewer's accrual ratio and its unusual items, we think its statutory earnings are unlikely to exaggerate the company's underlying earnings power. Based on these factors, we think TeamViewer's earnings potential is at least as good as it seems, and maybe even better! So if you'd like to dive deeper into this stock, it's crucial to consider any risks it's facing. In terms of investment risks, we've identified 1 warning sign with TeamViewer, and understanding this should be part of your investment process.

Our examination of TeamViewer has focussed on certain factors that can make its earnings look better than they are. And it has passed with flying colours. 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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TAMPA, FLA. - February 24, 2026 (NEWMEDIAWIRE) - TeamViewer, a global leader in digital workplace solutions, today announced Tim Koubek as President of TeamViewer Americas. Koubek is an accomplished enterprise sales leader with deep experience scaling infrastructure software businesses across the Americas and globally. As a multi-time Chief Revenue Officer, he has consistently delivered strong growth by implementing winning sales methodologies and building high-performing go-to-market teams.

Koubek's proven track record includes serving as Senior Vice President of Sales at LogicMonitor, where he delivered exceptionally strong growth and helped shape the company's evolution from an infrastructure monitoring tool to a broader observability platform. At BMC Software, he owned a step-change in topline growth and sales productivity on the back of a highly disciplined playbook approach. Koubek has extensive expertise in enterprise sales across industries including highly regulated and complex environments.

"Tim brings a powerful combination of enterprise sales rigor, operational discipline, and transformational leadership," said TeamViewer CEO Oliver Steil. "He has led large enterprise go-to-market teams across the Americas and delivered exceptional growth in infrastructure software organizations at scale. His track record of delivering sales excellence for major software companies makes him exceptionally well-suited to lead our Americas region."

TeamViewer Chief Revenue Officer Mark Banfield added: "Having worked with Tim at LogicMonitor, I've seen firsthand how he builds sales playbooks that deliver repeatable, measurable growth. He understands how to transform sales organizations, from methodology and enablement through execution, and he does it while creating a true team environment. His experience will be instrumental in driving continued success across the Americas."

"TeamViewer's innovative software is uniquely positioned at the intersection of secure connectivity, real-time observability, and autonomous endpoint automation," said Tim Koubek. "My passion has always been to build and lead high-performing organizations that know how to scale and win together. I'm excited to work alongside this talented team to accelerate growth across the Americas by executing with the kind of discipline and energy that wins enterprise deals."

About TeamViewer

TeamViewer provides a Digital Workplace platform that connects people with technology - enabling, improving and automating digital processes to make work work better.

In 2005, TeamViewer started with software to connect to computers from anywhere to eliminate travel and enhance productivity. It rapidly became the de facto standard for remote access and support and the preferred solution for hundreds of millions of users across the world to help others with IT issues. Today, more than 635,000 customers across industries rely on TeamViewer to optimize their digital workplaces - from small to medium sized businesses to the world's largest enterprises - empowering both desk-based employees and frontline workers. Organizations use TeamViewer's solutions to prevent and resolve disruptions with digital endpoints of any kind, securely manage complex IT and industrial device landscapes, and enhance processes with augmented reality powered workflows and assistance - leveraging AI and integrating seamlessly with leading tech partners. Against the backdrop of global digital transformation and challenges like shortage of skilled labor, hybrid working, accelerated data analysis and the rise of new technologies, TeamViewer's solutions offer a clear value add by increasing productivity, reducing machine downtime, speeding up talent onboarding, and improving customer and employee satisfaction.

The company is headquartered in Goppingen, Germany, and employs around 1,900 people globally. In 2025, TeamViewer achieved a pro forma revenue of around 768 EUR million. TeamViewer SE (TMV) is listed at Frankfurt Stock Exchange and belongs to the MDAX. Further information can be found at www.teamviewer.com.

Press contact: press@teamviewer.com

View the original release on www.newmediawire.com

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