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German telecom operator providing mobile and broadband internet services, and building its own new mobile network.
German telecom operator providing mobile and broadband internet services, and building its own new mobile network.
Sells mobile and broadband on monthly contracts and has so far rented network capacity from other carriers, paying wholesale fees on each customer. It is building its own 5G network, based on Open RAN software-defined technology, to replace those payments, which means heavy spending now for lower running costs later. United Internet, its parent, owns the majority.
In one line: A German fourth mobile carrier, like a smaller Dish Wireless build-out.
Moat: narrow (brand, distribution). Established broadband/mobile brand under United Internet, building a fourth national mobile network, but capital-intensive and behind incumbents on coverage.
Headquarters: Montabaur, Germany · Founded: 1998 · Employees: 4,678
Size 1&1 (1U1.DE) is a Germany Communication Services company (Specialty Telecommunications) with a market value of $5.79B, the 67th largest of 205 Germany companies the cockpit tracks. Shares closed at €24.40 on 6 Nov 2026.
Performance Over six months the shares gained 7.2%, against -7.5% for the median peer and +2.6% for the Germany market (cap-weighted) — 2nd highest of 13 in its peer set.
Growth Revenue grew 8.5% over the last twelve months (peer median +3.7%); the operating margin is 3.5% (peer median 16.2%).
Valuation It trades at 34.4× forward earnings against a peer median of 18.5× (3rd most expensive of 11).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +11 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.2 points below its cost of capital (5.0% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €4.40B | €4.14B | €4.06B | €4.10B | €3.96B |
| Revenue growth | — | +2% | -1% | +3% | — |
| Gross profit | €937M | €854M | €940M | €1.06B | €1.12B |
| EBITDA | €588M | €494M | €554M | €623M | €660M |
| Net income | €122M | €166M | €213M | €315M | €367M |
| Free cash flow | €187M | €166M | -€5.94M | -€74.1M | -€68.8M |
| Capital expenditure | €513M | €411M | €291M | €296M | €249M |
| Total debt | €0 | €1.11B | €413M | €189M | €103M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| 1&1 1U1.DE | $5.79B | +7% | +8% | 3% | 34.4× | 12.5% |
| Deutsche Telekom DTE.DE | $139B | -7% | +2% | 22% | 11.4× | -7.7% |
| Vodafone Group Public VOD.L | $36.3B | +4% | +11% | 10% | 12.1× | 4.2% |
| freenet FNTN.DE | $3.06B | -7% | +10% | 14% | 11.4× | -11.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1U1.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.1% | +0.8% | 4th highest of 13 |
| 6-month return | +7.2% | -7.5% | 2nd highest of 13 |
| Distance from 52-week high | -10.6% | -23.0% | 2nd highest of 13 |
| Revenue growth (TTM) | +8.5% | +3.7% | 5th highest of 13 |
| Operating margin | 3.5% | 16.2% | 3rd lowest of 13 |
| Forward P/E | 34.4× | 18.5× | 3rd most expensive of 11 |
| Growth the price implies (Req g, 7 yrs) | 12.5% | 4.3% | 4th most demanding of 11 |
| Growth delivered (Del g) | +1.8% | +2.2% | 6th highest of 11 |
| Hurdle (Req g minus delivered) | +10.8 pp | -1.8 pp | 4th most demanding of 11 |
| ROIC minus cost of capital | -3.2 pp | -1.0 pp | 4th lowest of 13 |
| EV / EBITDA | 8.8× | 8.1× | 4th most expensive of 10 |
| Net debt / EBITDA | -0.0× | 3.0× | least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 1&1 1U1.DE | Germany | $5.79B | +7% | +8% | 3% | 34.4× | 12.5% | +1.8% |
| ASR Microelectronics 688220.SS | China | $6.56B | +6% | +28% | 1% | 170.1× | n/a | n/a |
| Iridium Communications IRDM | United States | $4.68B | +6% | +4% | 19% | 64.8× | 21.0% | +8.4% |
| Infrastrutture Wireless Italiane INW.MI | Italy | $7.39B | +1% | +1% | 53% | 19.4× | 8.2% | +10.2% |
| PLDT, Inc. Sponsored ADR PHI | United States | $3.88B | -11% | -2% | 22% | 8.7× | -2.9% | +0.8% |
| freenet FNTN.DE | Germany | $3.06B | -7% | +10% | 14% | 11.4× | -11.3% | -1.1% |
| Helios Towers HTWS.L | United Kingdom | $3.05B | -8% | +6% | 36% | 30.1× | 13.4% | +15.0% |
| AST SpaceMobile ASTS | United States | $12.6B | -57% | +2,257% | -410% | n/a | n/a | n/a |
| China Satellite Communications 601698.SS | China | $13.9B | -40% | -2% | 10% | n/a | 40.0% | -0.3% |
| U-NEXT 9418.T | Japan | $2.04B | +17% | +20% | 6% | 17.6× | 0.4% | +17.7% |
| Telia TELIA.ST | Sweden | $19.2B | 0% | 0% | 18% | 21.1× | -1.1% | -1.9% |
| China Tower 0788.HK | Hong Kong | $20.2B | -18% | +4% | 20% | 9.7× | -1.0% | +3.6% |
| Telefonica TEF.MC | Spain | $21.4B | -16% | -11% | 5% | 10.8× | 11.7% | -4.0% |