B+S Banksysteme Aktiengesellschaft (DTD2) AI Stock Analysis

• Market Cap: €11.24M
• Dividend Yield: N/A
• Average Volume (3M): 6.60K
• Price to Earnings (P/E): 4.0
• Beta (1Y): -0.01
• Revenue Growth: 8.82%
• EPS Growth: 103.18%
• Country: DE
• Employees: 78
• Sector: General
• Sector Strength: N/A
• Industry: Software - Application
• EPS (TTM): 0.13
• Shares Outstanding: 6,209,933
• 10 Day Avg. Volume: 14,815
• 30 Day Avg. Volume: 6,596
• PEG Ratio: 0.48
• Price to Book (P/B): 0.67
• Price to Sales (P/S): 0.83
• P/FCF Ratio: 3.45
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: €2.00 ▲(0.50% Upside)
• Action: Downgraded Date: 02/18/26
• Date: Action: Downgraded 02/18/26

The score is supported mainly by improved profitability and strong recent free cash flow, plus an attractive low P/E valuation. These positives are tempered by weak technicals (below key moving averages with negative MACD) and fundamental risks including volatile gross margin, a 2025 revenue decline, and rising debt.

Positive Factors

Improved profitability

Net margin (~11.5% in 2025) and EBIT margin (~17.2%) improvement reflects durable operational progress and better cost control. Higher sustainable margins bolster earnings retention and reinvestment capacity, provide a cushion through cycles, and support improved returns over the medium term.

Strong free cash flow

Free cash flow of about €3.0M and conversion near 0.93x of net income indicate high-quality earnings and reliable cash generation. Durable FCF enhances strategic optionality for capex, debt reduction or shareholder returns and reduces dependence on external financing over the medium term.

Manageable leverage & rising ROE

Leverage around 0.58 alongside growing equity and ROE improving to ~9.2% signals a more resilient capital structure. Manageable debt levels and rising returns enhance flexibility to fund growth or weather downturns without immediate external capital, supporting durability of operations.

Negative Factors

Revenue contraction

A ~-2.4% revenue decline in 2025 and uneven historical growth reduce top-line predictability and hinder scaling of the business. Slower or inconsistent revenue limits ability to leverage fixed costs, constrains margin expansion, and makes multi-quarter planning and investment decisions riskier.

Volatile gross margin

A swing from ~46.5% to ~32.3% in gross margin suggests significant sensitivity to pricing, cost inputs or product mix. Persistent margin volatility undermines earnings sustainability, complicates budgeting and forecasting, and may require structural pricing or cost measures to protect operating profitability.

Rising debt amid revenue slip

Increasing debt in 2025 while revenue declined reduces financial flexibility and raises refinancing and interest coverage risk. Higher leverage during a revenue lull makes the company more vulnerable to margin shocks and could constrain capital allocation for growth or shareholder returns if cash flows weaken.

B+S Banksysteme Aktiengesellschaft Business Overview & Revenue Model

Company Description

B+S Banksysteme Aktiengesellschaft develops and markets software solutions for banks and financial service providers. It offers software solutions in the areas of payments transactions; documentary transaction for import and export letters of credit, import and export debt collection, and guarantees to be borne by the customer and in favor of the customer; account and currency management; treasury; and risk management. The company also provides DDBAC, a banking interface that enables to read bank data, analyze transaction histories, initiate transfers, verify account data, and aggregate several bank accounts; and variety and precious metal trade and e-banking solutions; and banking APIs. In addition, it engages in developing, selling, and maintaining applications; provision of software as a service and data centers. The company primarily serves private, savings, and online banks, as well as industrial companies. B+S Banksysteme Aktiengesellschaft was founded in 1982 and is based in Munich, Germany.

How the Company Makes Money

B+S Banksysteme generates revenue through the sale of its software products and services to financial institutions. Its primary revenue streams include licensing fees for its software solutions, subscription fees for ongoing software access and updates, and consulting fees for implementation and customization services. Additionally, the company may earn revenue from maintenance and support contracts, ensuring continuous operation and optimization of its software systems for clients. Strategic partnerships with other technology firms and financial service providers may also play a role in expanding its market reach and enhancing its product offerings, thereby contributing to its earnings.

B+S Banksysteme Aktiengesellschaft Financial Statement Overview

Summary

Fundamentals are solid: profitability improved materially (net margin ~11.5% in 2025; EBIT ~17.2%) and cash generation is strong (FCF ~€3.0M with healthy conversion). Offsetting factors include a 2025 revenue dip (~-2.4%), volatile gross margin (down to ~32.3% from ~46.5%), and rising debt in 2025.

Income Statement

Profitability has improved materially versus earlier years: net margin rose from negative in 2020 to ~11.5% in 2025 (annual), and operating profitability is solid with EBIT margin ~17.2% and EBITDA margin ~23.1% in 2025. However, growth is not consistent—revenue was slightly down in 2025 (about -2.4% vs. 2024) after modest expansion in prior years, and gross margin is volatile (down to ~32.3% in 2025 from ~46.5% in 2024), suggesting variability in cost structure or mix.

Balance Sheet

Leverage looks manageable with debt-to-equity around 0.58 in 2025, and equity has grown over time (supporting balance sheet resilience). Returns on equity have also improved to ~9.2% in 2025 from much lower levels in 2021–2022. The key watch-out is that debt increased in 2025 versus 2024 (while revenue slipped), which could reduce flexibility if margins weaken again.

Cash Flow

Cash generation is a clear strength: operating cash flow and free cash flow were strong in 2025 (free cash flow ~€3.0M), with a large year-over-year free cash flow increase. Free cash flow conversion is healthy, running at roughly 0.93x of net income in 2025 (and similarly strong in 2024). The main weakness is that cash flow strength has not been perfectly steady historically (notably weak operating cash flow in 2023), indicating potential lumpiness in working capital or collections.

Breakdown	TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2021
Income Statement
Total Revenue	13.19M	12.60M	12.71M	11.23M	11.08M	10.44M
Gross Profit	3.77M	4.06M	5.91M	2.23M	1.75M	1.50M
EBITDA	3.01M	2.91M	3.07M	1.29M	2.05M	1.22M
Net Income	1.45M	1.45M	1.24M	441.00K	16.00K	192.00K
Balance Sheet
Total Assets	28.12M	27.20M	26.22M	25.09M	25.19M	26.92M
Cash, Cash Equivalents and Short-Term Investments	2.46M	4.16M	2.10M	737.00K	1.69M	1.66M
Total Debt	8.08M	9.10M	6.02M	6.84M	6.73M	8.25M
Total Liabilities	11.54M	11.43M	11.89M	12.01M	12.37M	14.13M
Stockholders Equity	16.58M	15.76M	14.33M	13.08M	12.73M	12.72M
Cash Flow
Free Cash Flow	2.54M	3.04M	2.75M	58.00K	1.29M	476.00K
Operating Cash Flow	2.80M	3.25M	2.83M	140.00K	1.33M	551.00K
Investing Cash Flow	-275.00K	-215.00K	-142.00K	-154.00K	-127.00K	-167.00K
Financing Cash Flow	-988.00K	-978.00K	-1.33M	-1.08M	-1.31M	-1.18M

B+S Banksysteme Aktiengesellschaft Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.99
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:DTD2, the sentiment is Negative. The current price of 1.99 is above the 20-day moving average (MA) of 1.97, below the 50-day MA of 2.03, and below the 200-day MA of 1.99, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 23.90 is Positive, neither overbought nor oversold. The STOCH value of 30.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:DTD2.

B+S Banksysteme Aktiengesellschaft Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DTD2	68 Neutral	€11.24M	3.97	8.98%	―	8.82%	103.18%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%