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TeamViewer AG (DE:TMV)
XETRA:TMV
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TeamViewer AG (TMV) AI Stock Analysis

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DE:TMV

TeamViewer AG

(XETRA:TMV)

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Neutral 62 (OpenAI - 4o)
Rating:62Neutral
Price Target:
€7.00
▲(5.42% Upside)
TeamViewer AG's strong valuation and profitability are offset by technical weaknesses and financial risks due to high leverage. The stock's oversold condition may offer a rebound opportunity, but caution is advised due to revised guidance and operational challenges.
Positive Factors
Enterprise Growth
The strong growth in Enterprise ARR indicates robust demand and successful expansion in key markets, supporting long-term revenue stability.
Profitability
High EBITDA margins reflect efficient operations and a strong ability to convert revenue into profit, which is crucial for sustaining business health.
Product Innovation
Innovative product developments, including AI features, enhance competitive positioning and open new revenue streams, supporting future growth.
Negative Factors
High Leverage
High leverage indicates financial risk, potentially limiting the company's ability to invest in growth opportunities and weather economic downturns.
SMB ARR Flattening
Flat SMB ARR growth suggests challenges in this segment, which could impact overall revenue growth if not addressed strategically.
Revised Guidance
The downward revision in guidance reflects operational challenges and FX headwinds, indicating potential difficulties in achieving growth targets.

TeamViewer AG (TMV) vs. iShares MSCI Germany ETF (EWG)

TeamViewer AG Business Overview & Revenue Model

Company DescriptionTeamViewer AG, together with its subsidiaries, develops and distributes remote connectivity solutions worldwide. The company offers TeamViewer, a remote access, remote control, and remote support solution that works with every desktop and mobile platform; TeamViewer Tensor, an enterprise remote connectivity cloud platform enabling organizations to deploy a large-scale IT management framework to access, support, and control any device or machine from anywhere at anytime; TeamViewer Assist AR, a remote support solution with augmented reality; and TeamViewer IoT, which enables to instantly access, control, and manage connected products from anywhere. It also provides TeamViewer Frontline, an augmented reality productivity solution platform; TeamViewer Engage, a next-gen digital customer engagement platform for online sales, digital customer service, and video consultations; TeamViewer Remote Management that manages, monitors, tracks, patches, and protects computers, devices, and software from a single platform; TeamViewer Servicecamp, a solution for service desk management and remote connectivity; TeamViewer Remote Access, a secure and stable remote access to remote PCs, smartphones, servers, payment terminals and IoT devices; and TeamViewer Meeting, a meeting function that offers video conferencing and VoIP calls, instant chat, screen sharing across devices and platforms. The company was formerly known as Regit Beteiligungs-GmbH and changed its name to TeamViewer AG in September 2019. TeamViewer AG was founded in 2005 and is headquartered in Göppingen, Germany.
How the Company Makes MoneyTeamViewer generates revenue primarily through subscription-based licensing for its software products. The company offers tiered pricing plans that cater to different user needs, including individual users, small businesses, and large enterprises. Key revenue streams include direct sales of licenses, recurring revenue from subscriptions, and additional income from service contracts and add-on features. TeamViewer also benefits from strategic partnerships with hardware manufacturers and software providers, enhancing its distribution channels and expanding its user base. The company invests in marketing and customer support to retain existing clients and attract new ones, contributing to its overall earnings.

TeamViewer AG Earnings Call Summary

Earnings Call Date:Oct 21, 2025
(Q3-2025)
|
% Change Since: |
Next Earnings Date:Feb 10, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a challenging quarter for TeamViewer, with strong profitability and enterprise growth overshadowed by significant issues in the 1E business and flat SMB ARR. Despite innovative product developments, the revised guidance and employee departures indicate areas of concern.
Q3-2025 Updates
Positive Updates
Enterprise ARR Growth
Enterprise ARR grew by 12% year-over-year in constant currency, reaching EUR 230.5 million, primarily driven by the EMEA and APAC regions.
Strong Profitability
Pro forma adjusted EBITDA margin was 46% for Q3, demonstrating strong profitability and resilience.
Pro Forma Net Leverage Improvement
Pro forma net leverage ratio improved to 2.8x, aligning with deleveraging targets.
Innovative Product Developments
Progress with new products such as DEX Essentials, TeamViewer One, and the Agentic AI roadmap, with 9,000 customers opting into AI features.
Negative Updates
1E Stand-Alone Business Decline
1E's ARR decreased by 2% year-over-year in constant currency, impacted by customer loss, pipeline conversion issues, and macroeconomic challenges.
SMB ARR Flattening
SMB ARR remained flat year-over-year in constant currency, with strategic shifts impacting short-term billings and ARR growth.
Revised 2025 Guidance
2025 ARR guidance revised downward by EUR 35 million to EUR 40 million due to operational impacts and EUR 20 million FX headwind.
Employee Departures Impact
Loss of key 1E sales employees led to disruption in sales execution and pipeline conversion.
Company Guidance
In TeamViewer's Q3 2025 earnings call, the company reported a 4% revenue growth year-over-year in constant currency, with a pro forma ARR of EUR 757 million. The Enterprise business was a key growth driver, showing an 18% increase in ARR. Despite challenges in the 1E stand-alone business, which saw a 2% ARR decrease, TeamViewer maintained a strong adjusted EBITDA margin of 46%. The EMEA region led with EUR 101.5 million in revenue, up 6% year-over-year, while the Americas and APAC regions also recorded growth. TeamViewer's SMB revenue grew by 3%, although ARR remained flat. The company updated its full-year guidance, adjusting its ARR expectation to EUR 780 million - EUR 800 million amid slower pipeline conversions and FX headwinds, while raising its adjusted EBITDA margin guidance to approximately 44%.

TeamViewer AG Financial Statement Overview

Summary
TeamViewer AG exhibits solid financial health with strong revenue and profit growth, efficient cash flow management, and a significant reduction in debt, enhancing financial flexibility. While the company's profitability and cash generation are commendable, attention to equity levels could further bolster financial stability.
Income Statement
75
Positive
TeamViewer AG shows a strong income statement performance with consistent revenue growth over the years, evident in the revenue growth rate of approximately 7.1% from 2023 to 2024. The company maintains robust profitability with a gross profit margin around 88% and a net profit margin improving to 18.3% in 2024. The EBIT and EBITDA margins are also healthy, indicating efficient operational management. Overall, the income statement reflects stability and growth, with a positive trajectory for revenue and profit margins.
Balance Sheet
55
Neutral
The balance sheet of TeamViewer AG indicates moderate financial leverage with a debt-to-equity ratio of 0 in 2024 due to the elimination of total debt, showcasing a significant reduction from previous years. The equity ratio is relatively low at around 9.4%, highlighting a potential risk due to lower equity levels. However, the return on equity is impressive at 122.5%, suggesting effective use of shareholder funds for generating profits. The balance sheet reflects a stable financial position with reduced leverage but highlights areas for improvement in equity levels.
Cash Flow
68
Positive
TeamViewer AG demonstrates strong cash flow performance with a positive free cash flow growth rate of approximately 8.7% from 2023 to 2024. The operating cash flow to net income ratio is robust, emphasizing efficient cash generation relative to earnings. The free cash flow to net income ratio remains strong, indicating the company’s ability to convert net income into cash effectively. The cash flow statement reflects healthy cash management and strong free cash flow generation.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue710.03M671.42M626.69M565.87M501.10M455.61M
Gross Profit625.50M590.59M544.95M484.58M430.15M391.51M
EBITDA264.71M248.12M219.68M196.21M155.48M234.37M
Net Income126.44M123.08M114.02M67.60M50.05M103.03M
Balance Sheet
Total Assets1.71B1.07B1.11B1.17B1.55B1.06B
Cash, Cash Equivalents and Short-Term Investments51.05M55.27M82.25M168.03M550.53M87.99M
Total Debt1.03B444.63M529.42M632.64M877.47M522.25M
Total Liabilities1.62B969.86M1.03B1.06B1.23B822.71M
Stockholders Equity89.84M100.48M83.66M115.28M320.09M240.71M
Cash Flow
Free Cash Flow230.80M243.81M224.26M195.50M178.74M198.37M
Operating Cash Flow240.45M249.18M229.87M204.34M193.97M224.54M
Investing Cash Flow-692.53M-12.82M-29.56M-10.82M-38.92M110.25M
Financing Cash Flow451.77M-254.39M-287.39M-609.80M301.10M-95.77M

TeamViewer AG Technical Analysis

Technical Analysis Sentiment
Negative
Last Price6.64
Price Trends
50DMA
8.79
Negative
100DMA
9.18
Negative
200DMA
10.47
Negative
Market Momentum
MACD
-0.27
Positive
RSI
21.94
Positive
STOCH
44.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:TMV, the sentiment is Negative. The current price of 6.64 is below the 20-day moving average (MA) of 8.47, below the 50-day MA of 8.79, and below the 200-day MA of 10.47, indicating a bearish trend. The MACD of -0.27 indicates Positive momentum. The RSI at 21.94 is Positive, neither overbought nor oversold. The STOCH value of 44.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:TMV.

TeamViewer AG Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
75
Outperform
€1.65B36.0274.27%2.00%10.61%12.46%
73
Outperform
€269.55B41.1815.83%0.99%10.29%159.53%
63
Neutral
€762.50M25.3535.14%4.33%-16.41%-1.83%
62
Neutral
€1.34B10.60113.84%11.14%0.92%
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
59
Neutral
€12.16B63.5523.55%0.53%25.33%6.58%
53
Neutral
€705.34M4,166.67-0.10%7.04%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
DE:TMV
TeamViewer AG
6.64
-6.79
-50.56%
DE:AOF
ATOSS Software
106.60
-18.75
-14.96%
DE:NEM
Nemetschek
104.50
4.26
4.25%
DE:PSAN
PSI AG fuer Produkte und Systeme der Informationstechnologie
45.10
23.00
104.07%
DE:SAP
SAP SE
236.85
19.76
9.10%
DE:MUM
Mensch und Maschine Software SE
42.70
-10.16
-19.22%

TeamViewer AG Corporate Events

TeamViewer AG’s Earnings Call Highlights Strategic Gains
Jul 30, 2025

TeamViewer AG’s recent earnings call painted a picture of strong strategic progress and solid financial performance, particularly in the enterprise segment and EMEA region. Despite these positive developments, the company faces challenges in the U.S. market and a softer performance from 1E. However, there is cautious optimism for growth acceleration in the latter half of the year, buoyed by new product launches.

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.Date of analysis: Oct 23, 2025