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German IT systems integrator and reseller providing IT infrastructure, hardware, software and managed services to businesses and government.
German IT systems integrator and reseller providing IT infrastructure, hardware, software and managed services to businesses and government.
Resales of hardware and software make up most of its revenue, but the services attached to them, such as installation, support and running customers' IT, are the steadier and more profitable part. Public-sector orders often come through framework agreements that let agencies buy repeatedly without a new tender. Most sales are in Germany and elsewhere in Europe.
In one line: A German CDW/Insight Enterprises for IT procurement and services.
Moat: none (scale, distribution, installed base). Large scale and vendor relationships across Europe, but IT reselling is a low-margin, competitive business.
Headquarters: Neckarsulm, Germany · Founded: 1983 · Employees: 16,360
Size Bechtle (BC8.DE) is a Germany Information Technology company (Information Technology Services) with a market value of $4.72B, the 73rd largest of 205 Germany companies the cockpit tracks. Shares closed at €33.42 on 6 Nov 2026.
Performance Over six months the shares gained 12.8%, against +13.9% for the median peer and +2.6% for the Germany market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 7.7% over the last twelve months (peer median +7.5%); the operating margin is 4.5% (peer median 9.4%).
Valuation It trades at 16.8× forward earnings against a peer median of 14.9× (9th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +2 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 1.5 points above its cost of capital (6.6% WACC).
Credit Bechtle has 1 bond outstanding ($334M).
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €6.76B | €6.41B | €6.31B | €6.42B | €6.03B |
| Revenue growth | — | +2% | -2% | +7% | — |
| Gross profit | €1.26B | €1.11B | €1.06B | €1.05B | €989M |
| EBITDA | €473M | €444M | €439M | €455M | €432M |
| Net income | €246M | €229M | €245M | €266M | €251M |
| Free cash flow | €22.5M | €160M | €466M | €349M | €30.5M |
| Capital expenditure | €126M | €121M | €88.7M | €101M | €81.7M |
| Total debt | €1.11B | €723M | €812M | €734M | €523M |
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 |
|---|---|---|---|---|---|---|
| Bechtle BC8.DE | $4.72B | +13% | +8% | 5% | 16.8× | 6.9% |
| CDW CDW | $19.6B | +51% | +11% | 7% | 12.9× | 2.6% |
| Insight Enterprises NSIT | $4.64B | +89% | +3% | 6% | 11.7× | 2.9% |
| Computacenter CCC.L | $6.48B | +15% | +54% | 3% | 16.4× | 7.9% |
| SoftwareOne SWON.SW | $2.30B | +11% | +62% | 12% | 12.6× | -5.7% |
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 | BC8.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.7% | 0.0% | 9th lowest of 21 |
| 6-month return | +12.8% | +13.9% | 10th lowest of 21 |
| Distance from 52-week high | -26.0% | -24.4% | 10th lowest of 21 |
| Revenue growth (TTM) | +7.7% | +7.5% | 11th highest of 21 |
| Operating margin | 4.5% | 9.4% | 4th lowest of 21 |
| Forward P/E | 16.8× | 14.9× | 9th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 6.9% | 2.9% | 8th most demanding of 20 |
| Growth delivered (Del g) | +4.9% | +8.6% | 6th lowest of 20 |
| Hurdle (Req g minus delivered) | +2.1 pp | -2.6 pp | 7th most demanding of 20 |
| ROIC minus cost of capital | +1.5 pp | +5.3 pp | 5th lowest of 20 |
| EV / EBITDA | 10.1× | 10.0× | 8th most expensive of 16 |
| Net debt / EBITDA | 1.2× | -0.1× | 7th most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bechtle BC8.DE | Germany | $4.72B | +13% | +8% | 5% | 16.8× | 6.9% | +4.9% |
| KBR KBR | United States | $4.69B | +14% | -3% | 9% | 9.5× | -8.7% | +6.2% |
| Insight Enterprises NSIT | United States | $4.64B | +89% | +3% | 6% | 11.7× | 2.9% | -0.2% |
| Q2 Holdings, Inc. QTWO | United States | $4.57B | +47% | +13% | 13% | 22.5× | 26.6% | +14.6% |
| Softcat SCT.L | United Kingdom | $4.53B | +14% | +35% | 11% | 17.9× | -4.1% | +20.3% |
| Amdocs DOX | United States | $4.53B | -34% | +4% | 17% | 7.7× | -15.8% | +1.8% |
| NS Solutions 2327.T | Japan | $4.43B | +6% | +12% | 12% | 21.3× | -5.1% | +8.6% |
| Parsons PSN | United States | $5.16B | -1% | -3% | 5% | 14.8× | 8.4% | +10.2% |
| Sopra Steria SOP.PA | France | $4.29B | +50% | +2% | 9% | 11.2× | -0.6% | +5.8% |
| LG Cns 064400.KS | South Korea | $5.29B | +14% | +4% | 9% | 15.5× | 5.6% | +7.2% |
| Pegasystems PEGA | United States | $5.30B | -10% | +1% | 12% | 13.8× | 8.8% | +11.4% |
| HyundaiAutoever 307950.KS | South Korea | $5.49B | -40% | +16% | 5% | 35.7× | 27.6% | +22.2% |
| TISI 3626.T | Japan | $5.50B | +20% | +5% | 13% | 15.1× | -7.7% | +5.9% |
| Workiva WK | United States | $3.96B | +42% | +20% | 3% | 23.0× | 33.1% | +20.3% |
| Sterlite Technologies STLTECH.NS | India | $3.91B | +101% | +63% | 17% | 28.2× | 22.6% | -0.4% |
| Box BOX | United States | $5.76B | +63% | +10% | 9% | 26.0× | 20.3% | +8.8% |
| Ingram Micro INGM | United States | $5.85B | -6% | +15% | 2% | 6.8× | 2.9% | +1.4% |
| NICE Ltd. Sponsored ADR NICE | United States | $5.87B | +4% | +8% | 17% | 7.8× | -0.7% | +12.3% |
| Jiangsu Hoperun Software 300339.SZ | China | $3.65B | -31% | +11% | 3% | 141.9× | n/a | n/a |
| Science Applications International SAIC | United States | $6.13B | +56% | -1% | 8% | 14.3× | -4.6% | +0.6% |
| TravelSky Technology 0696.HK | Hong Kong | $3.59B | -5% | +7% | 28% | 9.8× | -16.5% | +9.0% |
Bechtle has 1 bond outstanding with $334M face value.