Bechtle Aktiengesellschaft (DE:BC8)
XETRA:BC8
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Bechtle Aktiengesellschaft
(XETRA:BC8)
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Rating:69Neutral
Price Target:
€34.00
▲(7.12% Upside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by solid financial quality (conservative balance sheet and stable profitability) tempered by uneven growth and inconsistent cash conversion. Valuation is supportive with a reasonable P/E and a moderate dividend yield. Technically, near-term strength is present, but the longer-term trend remains weak given the price is far below the 100/200-day averages and MACD is slightly negative.
Positive Factors
Conservative balance sheet
Bechtle's moderate leverage and solid equity provide durable financial flexibility to fund system-house operations, absorb cyclical IT spending shocks, and pursue targeted investments or tuck-in acquisitions. Healthy ROE (roughly low-teens) historically supports shareholder returns even as growth moderates.
Negative Factors
Uneven revenue growth
Modest, uneven top-line growth constrains operating leverage and makes long-term margin expansion harder to achieve. Cyclical or lumpy IT spending and past declines reduce predictability of recurring-service ramp rates, raising execution risk for scaling higher-margin business segments.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Bechtle's moderate leverage and solid equity provide durable financial flexibility to fund system-house operations, absorb cyclical IT spending shocks, and pursue targeted investments or tuck-in acquisitions. Healthy ROE (roughly low-teens) historically supports shareholder returns even as growth moderates.
Read all positive factors
Bechtle Aktiengesellschaft (BC8) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€3.72B
Dividend Yield1.62%
Average Volume (3M)202.21K
Price to Earnings (P/E)20.4
Beta (1Y)1.41
Revenue Growth4.04%
EPS Growth4.21%
CountryDE
Employees15,729
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)1.88
Shares Outstanding126,000,000
10 Day Avg. Volume192,276
30 Day Avg. Volume202,210
Financial Highlights & Ratios
PEG Ratio-3.60
Price to Book (P/B)2.69
Price to Sales (P/S)0.86
P/FCF Ratio34.42
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€40.60Price Target Upside27.91% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)1.92
Revenue Forecast (FY)€6.70B
Bechtle Aktiengesellschaft Business Overview & Revenue Model
Company Description
Bechtle AG provides information technology (IT) services primarily in Europe. The company operates in two segments, IT System House & Managed Services, and IT E-Commerce. The IT System House & Managed Services segment offers IT strategy consulting...
How the Company Makes Money
Bechtle makes money primarily by combining (1) project- and service-based IT system integration work with (2) product-centric IT commerce. A major revenue stream comes from selling IT products such as hardware, software, and associated accessories...
Bechtle Aktiengesellschaft Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.52B | 6.41B | 6.31B | 6.42B | 6.03B | 5.31B |
| Gross Profit | 1.22B | 1.11B | 1.14B | 1.05B | 1.05B | 920.01M |
| EBITDA | 443.73M | 444.25M | 510.46M | 515.82M | 469.00M | 430.14M |
| Net Income | 235.38M | 229.21M | 245.50M | 265.51M | 251.12M | 231.45M |
Balance Sheet | ||||||
| Total Assets | 4.61B | 4.72B | 4.22B | 3.80B | 3.45B | 3.02B |
| Cash, Cash Equivalents and Short-Term Investments | 372.63M | 452.03M | 716.20M | 465.76M | 291.70M | 433.18M |
| Total Debt | 454.91M | 722.90M | 812.25M | 734.04M | 523.15M | 489.23M |
| Total Liabilities | 2.51B | 2.66B | 2.30B | 2.06B | 1.91B | 1.67B |
| Stockholders Equity | 2.10B | 2.05B | 1.91B | 1.74B | 1.54B | 1.35B |
Cash Flow | ||||||
| Free Cash Flow | 189.86M | 159.89M | 469.49M | 349.01M | 34.95M | 226.22M |
| Operating Cash Flow | 311.90M | 280.91M | 558.15M | 450.19M | 116.65M | 284.49M |
| Investing Cash Flow | -234.97M | -265.86M | -206.27M | -282.55M | -224.32M | -42.94M |
| Financing Cash Flow | -265.79M | -277.36M | -145.97M | 43.17M | -100.21M | -179.36M |
Bechtle Aktiengesellschaft Technical Analysis
Positive
31.74
Price Trends
30.00
Positive
34.92
Negative
36.78
Negative
Market Momentum
-0.02
Negative
52.01
Neutral
27.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:BC8, the sentiment is Positive. The current price of 31.74 is above the 20-day moving average (MA) of 29.97, above the 50-day MA of 30.00, and below the 200-day MA of 36.78, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 52.01 is Neutral, neither overbought nor oversold. The STOCH value of 27.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:BC8.
Bechtle Aktiengesellschaft Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | €3.72B | 20.39 | 11.74% | 1.62% | 4.04% | 4.21% | |
65 Neutral | €732.86M | 23.37 | 5.18% | 3.78% | 0.21% | 33.16% | |
64 Neutral | €175.97M | 2.44 | 16.25% | 2.51% | -13.11% | 201.98% | |
62 Neutral | €633.16M | 24.56 | 13.51% | 1.43% | 7.30% | -15.88% | |
56 Neutral | €368.19M | 40.26 | 12.93% | 0.85% | 13.29% | 214.17% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €160.42M | -30.27 | 6.96% | 3.99% | -3.10% | -65.33% |
* General Sector Average
DE:BC8
Bechtle Aktiengesellschaft
30.40
-7.79
-20.40%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.