Baader Bank AG (DE:BWB)
XETRA:BWB
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Baader Bank AG
(XETRA:BWB)
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Rating:67Neutral
Price Target:
€7.50
▲(9.49% Upside)
Action:Downgraded
Date:06/04/26
The score is driven primarily by solid but uneven financial performance (strong 2025 profitability rebound and generally positive cash generation, offset by cyclicality, cash-flow volatility, and balance-sheet data inconsistencies). Valuation is a clear positive due to a low P/E and a modest yield, while technical indicators are neutral with slightly negative momentum.
Positive Factors
Platform partnerships & recurring fees
Baader's platform- and partnership-oriented model creates recurring fee streams (custody, clearing, services) and distribution scale via third-party brokers/fintechs. This structural distribution lowers customer acquisition cost, supports steadier fee income, and helps sustain margins over the medium term.
Negative Factors
Cyclicality of revenues and earnings
Baader's capital-markets-focused model is materially sensitive to market cycles, producing wide swings in revenue, operating results, and cash flow. This cyclicality reduces earnings visibility, complicates capital allocation and hiring decisions, and increases the risk of payout or investment reversals in downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Platform partnerships & recurring fees
Baader's platform- and partnership-oriented model creates recurring fee streams (custody, clearing, services) and distribution scale via third-party brokers/fintechs. This structural distribution lowers customer acquisition cost, supports steadier fee income, and helps sustain margins over the medium term.
Read all positive factors
Baader Bank AG (BWB) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€334.79M
Dividend Yield1.91%
Average Volume (3M)13.34K
Price to Earnings (P/E)6.5
Beta (1Y)0.29
Revenue Growth28.70%
EPS Growth115.79%
CountryDE
Employees631
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.99
Shares Outstanding48,797,310
10 Day Avg. Volume6,044
30 Day Avg. Volume13,342
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)1.35
Price to Sales (P/S)0.98
P/FCF Ratio4.21
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.75
Revenue Forecast (FY)€288.40M
Baader Bank AG Business Overview & Revenue Model
Company Description
Baader Bank AG operates as an investment banking institution across Europe, specializing in the trading of a diverse array of financial instruments. Its core activities encompass dealing in equities, fixed-income securities, various investment fun...
How the Company Makes Money
Baader Bank’s earnings primarily come from capital-markets and securities-services activities. Key revenue streams typically include: (1) Trading and market making income: revenue generated from providing liquidity in financial instruments and exe...
Baader Bank AG Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
64
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 248.65M | 320.10M | 247.60M | 344.08M | 249.96M | 218.38M |
| Gross Profit | 494.12M | 320.10M | 227.37M | 328.69M | 144.61M | 305.45M |
| EBITDA | 76.57M | 72.90M | 50.08M | 10.26M | 21.81M | 64.12M |
| Net Income | 48.17M | 50.70M | 23.50M | 2.79M | 8.69M | 46.55M |
Balance Sheet | ||||||
| Total Assets | 4.31B | 3.23B | 4.82B | 3.94B | 2.38B | 1.82B |
| Cash, Cash Equivalents and Short-Term Investments | 58.51M | 29.55M | 66.68M | 30.75M | 160.01M | 1.37B |
| Total Debt | 94.20M | 66.69M | 59.81M | 75.63M | 117.64M | 46.84M |
| Total Liabilities | 4.09B | 3.00B | 4.64B | 3.77B | 2.21B | 1.66B |
| Stockholders Equity | 223.51M | 232.26M | 188.62M | 164.76M | 164.04M | 163.52M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 74.65M | 693.87M | 1.64B | -20.27M | 885.75M |
| Operating Cash Flow | 0.00 | 88.87M | 708.21M | 1.65B | 366.37M | 897.08M |
| Investing Cash Flow | 0.00 | -53.37M | 113.28M | -22.69M | -277.75M | -10.87M |
| Financing Cash Flow | 0.00 | -1.68B | 821.57M | -2.63M | -8.67M | -4.00M |
Baader Bank AG Technical Analysis
Negative
6.85
Price Trends
6.85
Negative
6.86
Negative
6.62
Positive
Market Momentum
0.02
Negative
47.38
Neutral
26.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:BWB, the sentiment is Negative. The current price of 6.85 is above the 20-day moving average (MA) of 6.84, below the 50-day MA of 6.85, and above the 200-day MA of 6.62, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 47.38 is Neutral, neither overbought nor oversold. The STOCH value of 26.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:BWB.
Baader Bank AG Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | €261.43M | 5.44 | 54.58% | 8.03% | 61.13% | 119.04% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | €334.79M | 6.54 | 24.60% | 1.91% | 28.70% | 115.79% | |
63 Neutral | €3.75B | 24.79 | 18.79% | 0.11% | 16.62% | 45.52% | |
51 Neutral | €184.00M | 70.31 | 12.06% | 0.85% | ― | ― |
* Financial Sector Average
DE:BWB
Baader Bank AG
6.82
2.46
56.42%
DE:FTK
flatexDEGIRO AG
36.12
12.40
52.30%
DE:QB7
Quirin Privatbank AG
3.40
-0.46
-11.92%
DE:NF4
Netfonds AG
78.50
35.84
84.01%
DE:LUS1
Lang & Schwarz AG
27.90
7.60
37.44%
DE:T2G
Tradegate AG Wertpapierhandelsbank
86.00
0.00
0.00%
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.