Nemetschek SE (DE:NEM)
XETRA:NEM
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Nemetschek
(XETRA:NEM)
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Rating:66Neutral
Price Target:
€73.00
▲(5.42% Upside)
Action:Reiterated
Date:05/02/26
The score is primarily supported by strong financial performance (high margins, strong ROE, and strong cash conversion). It is held back by weak technicals (price below major moving averages and negative MACD) and a relatively high P/E with a low dividend yield.
Positive Factors
High Profitability & ROE
Sustained high margins and a ~25% ROE indicate durable pricing power and operating leverage for a specialist software portfolio. This supports reinvestment in R&D, margin-backed cash generation and long-term returns on equity versus lower-margin peers.
Negative Factors
Margin Variability
Observed margin swings suggest sensitivity to product mix, pricing and cost pressures (cloud/hosting or R&D mix). Persistent variability reduces margin predictability and could constrain long-term operating margin expansion despite strong headline profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability & ROE
Sustained high margins and a ~25% ROE indicate durable pricing power and operating leverage for a specialist software portfolio. This supports reinvestment in R&D, margin-backed cash generation and long-term returns on equity versus lower-margin peers.
Read all positive factors
Nemetschek (NEM) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€6.50B
Dividend Yield0.59%
Average Volume (3M)152.70K
Price to Earnings (P/E)27.9
Beta (1Y)1.09
Revenue Growth15.85%
EPS Growth30.93%
CountryDE
Employees3,994
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Application
Share Statistics
EPS (TTM)2.01
Shares Outstanding115,500,000
10 Day Avg. Volume118,728
30 Day Avg. Volume152,701
Financial Highlights & Ratios
PEG Ratio2.08
Price to Book (P/B)11.54
Price to Sales (P/S)9.00
P/FCF Ratio29.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€92.44Price Target Upside33.49% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)2.34
Revenue Forecast (FY)€1.34B
Nemetschek Business Overview & Revenue Model
Company Description
Nemetschek SE is a German-based global provider of software solutions specializing in the architecture, engineering, construction (AEC), and media and entertainment industries. The company's reach extends across Germany, the rest of Europe, the Am...
How the Company Makes Money
Nemetschek primarily makes money by licensing its software and related services across its brand portfolio. Key revenue streams typically include: (1) recurring subscription/SaaS fees for access to its software products and cloud-based collaborati...
Nemetschek Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
78
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.22B | 1.19B | 995.57M | 851.56M | 801.81M | 681.47M |
| Gross Profit | 593.59M | 587.98M | 590.63M | 398.61M | 478.16M | 404.28M |
| EBITDA | 390.12M | 372.74M | 312.39M | 265.80M | 260.91M | 223.00M |
| Net Income | 232.74M | 217.20M | 175.42M | 161.26M | 161.90M | 134.62M |
Balance Sheet | ||||||
| Total Assets | 2.22B | 2.18B | 2.14B | 1.27B | 1.20B | 1.05B |
| Cash, Cash Equivalents and Short-Term Investments | 291.79M | 258.37M | 210.52M | 269.40M | 199.31M | 158.31M |
| Total Debt | 344.29M | 404.53M | 569.87M | 76.34M | 149.24M | 194.74M |
| Total Liabilities | 1.17B | 1.21B | 1.19B | 492.43M | 508.90M | 512.53M |
| Stockholders Equity | 1.01B | 929.05M | 906.46M | 746.58M | 653.27M | 525.86M |
Cash Flow | ||||||
| Free Cash Flow | 376.89M | 368.14M | 293.08M | 240.20M | 194.76M | 204.44M |
| Operating Cash Flow | 393.35M | 381.89M | 306.80M | 252.88M | 213.78M | 214.36M |
| Investing Cash Flow | -114.63M | -81.72M | -707.11M | -37.85M | -52.41M | -147.62M |
| Financing Cash Flow | -242.05M | -236.51M | 331.79M | -139.37M | -123.98M | -55.35M |
Nemetschek Technical Analysis
Negative
69.25
Price Trends
62.45
Negative
65.46
Negative
81.87
Negative
Market Momentum
-0.82
Positive
38.65
Neutral
6.72
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:NEM, the sentiment is Negative. The current price of 69.25 is above the 20-day moving average (MA) of 62.79, above the 50-day MA of 62.45, and below the 200-day MA of 81.87, indicating a bearish trend. The MACD of -0.82 indicates Positive momentum. The RSI at 38.65 is Neutral, neither overbought nor oversold. The STOCH value of 6.72 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:NEM.
Nemetschek Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | €163.76B | 21.81 | 17.25% | 1.13% | 6.24% | 30.65% | |
72 Outperform | €848.40M | 6.94 | 81.82% | ― | 9.10% | -5.18% | |
70 Outperform | €605.96M | 17.64 | 42.00% | 4.15% | -16.11% | 12.37% | |
70 Outperform | €143.55M | 13.44 | 23.52% | 0.63% | 3.67% | 18.47% | |
66 Neutral | €6.50B | 27.94 | 25.74% | 0.59% | 15.85% | 30.93% | |
64 Neutral | €68.78M | 11.44 | 15.53% | 0.56% | 1.05% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
DE:NEM
Nemetschek
56.30
-66.78
-54.26%
DE:CSH
Cenit AG
8.22
-0.48
-5.52%
DE:SAP
SAP SE
140.26
-112.89
-44.59%
DE:TMV
TeamViewer AG
5.41
-4.73
-46.64%
DE:MUM
Mensch und Maschine Software SE
36.00
-16.69
-31.67%
DE:FAA
Fabasoft AG
13.05
-3.30
-20.19%
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.