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Nemetschek
(XETRA:NEM)
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Rating:70Outperform
Price Target:
€64.00
▲(11.99% Upside)
Action:Upgraded
Date:08/04/26
The score is driven primarily by strong financial quality (high profitability and solid cash conversion), tempered by slowing TTM growth and rising leverage. Technicals are mixed with neutral momentum but a weaker longer-term trend (below 100/200-day averages). Valuation is moderately premium (P/E ~27) with only a modest dividend yield, limiting upside from valuation support.
Positive Factors
Strong cash conversion
Consistent free cash flow near net income signals durable earnings quality and reliable internal funding. Over the next 2-6 months this supports reinvestment, maintenance of product development, potential dividends or buybacks, and cushions the company against short-term working capital swings.
Negative Factors
Slowing TTM revenue growth
A marked slowdown in trailing-twelve-month revenue growth weakens the top-line momentum that underpins medium-term expansion plans and cross-sell opportunities. If sustained, slower growth can limit operating leverage and constrain long-term profit expansion and strategic investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash conversion
Consistent free cash flow near net income signals durable earnings quality and reliable internal funding. Over the next 2-6 months this supports reinvestment, maintenance of product development, potential dividends or buybacks, and cushions the company against short-term working capital swings.
Read all positive factors
Nemetschek (NEM) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€6.70B
Dividend Yield1.17%
Average Volume (3M)152.70K
Price to Earnings (P/E)27.3
Beta (1Y)1.07
Revenue Growth12.75%
EPS Growth30.85%
CountryDE
Employees4,089
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Application
Share Statistics
EPS (TTM)2.13
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
€88.00Price Target Upside53.98% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)2.25
Revenue Forecast (FY)€1.39B
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 and subscribing its software products to professional customers and organizations, and by providing related maintenance and support. Its revenue model is dominated by recurring software revenues (subsc...
Nemetschek Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
79
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.26B | 1.19B | 995.57M | 851.56M | 801.81M | 681.47M |
| Gross Profit | 598.83M | 587.98M | 590.63M | 398.61M | 478.16M | 404.28M |
| EBITDA | 398.24M | 372.74M | 312.39M | 265.80M | 260.91M | 223.00M |
| Net Income | 246.37M | 217.20M | 175.42M | 161.26M | 161.90M | 134.62M |
Balance Sheet | ||||||
| Total Assets | 2.42B | 2.18B | 2.14B | 1.27B | 1.20B | 1.05B |
| Cash, Cash Equivalents and Short-Term Investments | 392.06M | 258.37M | 210.52M | 269.40M | 199.31M | 158.31M |
| Total Debt | 550.25M | 404.53M | 569.87M | 76.34M | 149.24M | 194.74M |
| Total Liabilities | 1.36B | 1.21B | 1.19B | 492.43M | 508.90M | 512.53M |
| Stockholders Equity | 1.02B | 929.05M | 906.46M | 746.58M | 653.27M | 525.86M |
Cash Flow | ||||||
| Free Cash Flow | 347.96M | 368.14M | 293.08M | 240.20M | 194.76M | 204.44M |
| Operating Cash Flow | 363.00M | 381.89M | 306.80M | 252.88M | 213.78M | 214.36M |
| Investing Cash Flow | -162.82M | -81.72M | -707.11M | -37.85M | -52.41M | -147.62M |
| Financing Cash Flow | -45.64M | -236.51M | 331.79M | -139.37M | -123.98M | -55.35M |
Nemetschek Technical Analysis
Negative
57.15
Price Trends
57.91
Negative
60.64
Negative
72.26
Negative
Market Momentum
0.65
Negative
48.59
Neutral
32.06
Neutral
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 57.15 is below the 20-day moving average (MA) of 57.54, below the 50-day MA of 57.91, and below the 200-day MA of 72.26, indicating a bearish trend. The MACD of 0.65 indicates Negative momentum. The RSI at 48.59 is Neutral, neither overbought nor oversold. The STOCH value of 32.06 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | €146.85M | 13.91 | 27.13% | 3.75% | 3.67% | 18.47% | |
72 Outperform | €184.10B | 23.02 | 17.98% | 1.78% | 6.42% | 22.22% | |
70 Outperform | €6.70B | 27.25 | 25.76% | 1.19% | 12.75% | 30.85% | |
69 Neutral | €940.23M | 7.22 | 68.55% | ― | 5.39% | 3.05% | |
66 Neutral | €626.16M | 18.88 | 40.19% | 11.36% | -8.23% | 10.46% | |
58 Neutral | €55.56M | 9.26 | 15.53% | ― | 1.05% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
DE:NEM
Nemetschek
56.50
-75.78
-57.29%
DE:CSH
Cenit AG
6.82
-0.80
-10.50%
DE:SAP
SAP SE
169.26
-75.44
-30.83%
DE:TMV
TeamViewer AG
6.35
-2.65
-29.44%
DE:MUM
Mensch und Maschine Software SE
36.15
-11.71
-24.47%
DE:FAA
Fabasoft AG
14.00
-1.90
-11.95%
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.