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Secunet Security Networks AG (DE:YSN)
XETRA:YSN

Secunet Security Networks (YSN) AI Stock Analysis

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Secunet Security Networks

(XETRA:YSN)

Rating:76Outperform
Price Target:
€258.00
▲(15.96%Upside)
Secunet Security Networks' strong financial health and positive technical indicators drive a favorable stock score. While high valuation metrics temper the outlook slightly, the company's robust financial performance and market momentum suggest a well-positioned stock for future growth.

Secunet Security Networks (YSN) vs. iShares MSCI Germany ETF (EWG)

Secunet Security Networks Business Overview & Revenue Model

Company Descriptionsecunet Security Networks Aktiengesellschaft operates as a cybersecurity company in Germany and internationally. The company offers safety audits and analyses; secunet biomiddle, a middleware for biometric systems and electronic ID (eID) documents; secunet bocoa, a border control application for stationary and mobile use; secunet CryptoServices; secunet easygate, an automated border control system; and secunet easykiosk, an automated system that collects, processes, and forwards relevant personal data. It also provides secunet easytower for biometric acquisition at stationary border control; secunet edge, an edge computing solution; eID public key infrastructure for automotive applications; secunet GlobalTester, an open-source-based test tool for smart cards and document readers; secunet Golden Reader Tool, an acknowledged standard solution for the readout of electronic identity documents; hardware security modules; secunet konnektor for healthcare telematics; protect4use for secure authentication to protect digital identity; IT security outsourcing; secunet safe surfer to run external and unknown content in a surfing environment isolated from the internal network; and secunet Session Border Controller that filters audio and video protocols. In addition, the company offers SINA Communicator H, a multi-crypto phone; SINA Workflow, a digital management of classified information; business continuity management system; data centre connectors for hospitals and large medical facilities; data protection management; information security management; anomaly detection services; secure web solutions; security analyses and penetration tests; security consulting; SecuStack, a secure and turnkey cloud infrastructure solution that ensures the protection of business-critical applications, sensitive data, and confidential information; and Stashcat, a secure messaging for police, public authorities, and companies. The company was founded in 1997 and is headquartered in Essen, Germany.
How the Company Makes MoneySecunet Security Networks generates revenue through the sale of its cybersecurity products and services. Key revenue streams include licensing fees for its software solutions, fees for professional services such as consulting and implementation, and recurring revenue from maintenance and support contracts. The company also benefits from long-term contracts with government and public sector clients, which provide stable and predictable income. Additionally, strategic partnerships with technology providers and integrators enhance its market reach and contribute to its revenue growth.

Secunet Security Networks Financial Statement Overview

Summary
Secunet Security Networks shows strong financial performance with consistent revenue growth, solid margins, and a healthy balance sheet with low leverage. Cash flow management is robust, supporting strategic investments, though slight fluctuations are noted in profitability and cash flows.
Income Statement
85
Very Positive
Secunet Security Networks has demonstrated consistent revenue growth, with a notable increase from €285.6M in 2020 to €406.4M in 2024. The Gross Profit Margin is robust, averaging around 23.9% over recent years. Net Profit Margin, while slightly fluctuating, remains healthy at approximately 6.9% in 2024. There is steady EBIT and EBITDA performance, indicating strong operational efficiency.
Balance Sheet
80
Positive
The company maintains a solid balance sheet with a low debt-to-equity ratio of 0.16 in 2024, highlighting financial prudence. The equity ratio is strong at about 41.9%, indicating a stable financial structure. The Return on Equity is decent, though slightly declining, reflecting consistent shareholder value creation amidst growing equity base.
Cash Flow
78
Positive
Cash flow management appears effective as operating cash flow remains strong, growing from €51.9M in 2023 to €60.9M in 2024. Free Cash Flow has also shown growth, leading to an improved Free Cash Flow to Net Income Ratio. However, fluctuating investing and financing cash flows may suggest strategic investments or restructuring.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue406.38M393.68M347.22M337.62M285.59M
Gross Profit97.33M87.37M90.15M101.61M80.82M
EBITDA60.49M60.24M62.10M73.82M59.61M
Net Income27.95M29.15M31.31M43.10M35.11M
Balance Sheet
Total Assets359.65M328.64M315.42M274.02M239.78M
Cash, Cash Equivalents and Short-Term Investments57.68M41.27M21.78M119.60M101.78M
Total Debt24.17M19.09M19.13M17.41M18.52M
Total Liabilities208.82M190.79M187.59M144.20M137.01M
Stockholders Equity150.75M137.75M127.59M129.56M102.39M
Cash Flow
Free Cash Flow46.85M43.07M46.98M47.17M
Operating Cash Flow60.98M51.88M53.76M56.38M
Investing Cash Flow-22.74M-8.75M
Financing Cash Flow-21.82M-23.33M-39.53M

Secunet Security Networks Technical Analysis

Technical Analysis Sentiment
Positive
Last Price222.50
Price Trends
50DMA
210.09
Positive
100DMA
190.20
Positive
200DMA
149.04
Positive
Market Momentum
MACD
4.55
Negative
RSI
57.58
Neutral
STOCH
61.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:YSN, the sentiment is Positive. The current price of 222.5 is above the 20-day moving average (MA) of 214.90, above the 50-day MA of 210.09, and above the 200-day MA of 149.04, indicating a bullish trend. The MACD of 4.55 indicates Negative momentum. The RSI at 57.58 is Neutral, neither overbought nor oversold. The STOCH value of 61.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:YSN.

Secunet Security Networks Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
DEYSN
76
Outperform
€1.44B51.5019.38%1.23%3.23%-4.11%
63
Neutral
$34.04B6.14-11.52%1.82%5.53%-18.79%
€587.00M74.554.09%0.84%
€2.21B48.2364.04%1.54%
€467.09M-4.80%
DETMV
68
Neutral
€1.52B11.71165.16%8.08%23.39%
$1.79B
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
DE:YSN
Secunet Security Networks
222.50
102.81
85.90%
GB:0N5I
adesso AG
85.40
-1.16
-1.34%
GB:0N66
ATOSS Software
140.06
28.13
25.13%
GB:0KUR
PSI AG fuer Produkte und Systeme der Informationstechnologie
30.04
7.54
33.51%
DE:TMV
TeamViewer AG
9.65
-1.25
-11.47%
NDTAF
Northern Data AG
27.88
1.13
4.22%
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: Jun 06, 2025