Who are Deutsche Boerse's main competitors?

Named competitors: CME Group (CME), Intercontinental Exchange (ICE), Euronext NV (ENX.PA), London Stock Exchange Group (LSEG.L), Nasdaq Inc (NDAQ). The cockpit's measured peer set (industry) also includes Macquarie (MQG.AX), Deutsche Bank Aktiengesellschaft (DBK.DE), HKEX (0388.HK), Nasdaq (NDAQ), CITIC Securities (600030.SS), Robinhood Markets (HOOD).

Is Deutsche Boerse expensive compared with its peers?

On forward p/e it trades at 24.7× against a peer median of 16.4×, 4th most expensive of 21 in its peer set.

How has Deutsche Boerse stock performed?

Over six months to 6 Nov 2026 the shares returned +31.6% against +4.1% for the median peer; over one year +53.0%.

← CockpitCompetitor Analysis › DB1.DE Deutsche Boerse AGOpen in the cockpit ↗

Deutsche Boerse AGDB1.DECompetitor analysis, valuation and peers

Germany · EUR·Financials›Investment Banks/Brokers

Operates Germany's Xetra stock exchange, the Eurex derivatives exchange and Clearstream settlement/custody, plus market data services.

≈ Germany's CME/ICE combined with DTCCMomentum leader 92

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$63.8B

US dollars, full cap

Free float

97%

of shares outstanding

$/day

$138M

20-day average traded

Fwd P/E

24.7×

forward earnings

ROIC−WACC

n/a

WACC 5.0%

Hurdle

n/a

no reverse DCF

Close · EUR€320.00

1D-2.3%

1W-0.2%

1M+9.4%

3M+16.8%

6M+31.6%

YTD+43.0%

1Y+53.0%

ATR %2.0%

52w lowhigh2.8% off high

What Deutsche Boerse does

Operates Germany's Xetra stock exchange, the Eurex derivatives exchange and Clearstream settlement/custody, plus market data services.

Fees on each trade, each cleared contract and each asset held in custody carry the business, along with interest on client cash at Clearstream. Index licences and data are recurring subscriptions. It has added software through acquisitions, notably SimCorp, an investment-management software maker, in 2023.

In one line: Germany's CME/ICE combined with DTCC.

Products and services

Eurex (derivatives trading & clearing)
Xetra (cash equities trading)
Clearstream (custody/settlement)
Market data & analytics (Qontigo, ISS STOXX)

Customers

Banks & broker-dealers
Asset managers
Institutional investors

Where it sits in the supply chain

Financial market infrastructure
Exchanges, clearing & custody
Cash equities (Xetra), derivatives…

What could go right

Rising derivatives trading volumes/volatility
Index & data licensing growth
Clearing volume growth

What could go wrong

Regulatory/antitrust scrutiny of market infrastructure
Fee competition from alternative venues
Macro-driven volume swings

Moat: wide (network effects, regulatory licence, scale). Deep derivatives liquidity pool (Eurex) and entrenched settlement infrastructure (Clearstream) are hard to displace.

Headquarters: Frankfurt, Germany · Founded: 1993 · Employees: 16,475

Named competitors

Deutsche Boerse at a glance

Size Deutsche Boerse (DB1.DE) is a Germany Financials company (Investment Banks/Brokers) with a market value of $63.8B, the 11th largest of 205 Germany companies the cockpit tracks. Shares closed at €320.00 on 6 Nov 2026.

Performance Over six months the shares gained 31.6%, against +4.1% for the median peer and +2.6% for the Germany market (cap-weighted) — highest of 21 in its peer set.

Growth Revenue grew 7.1% over the last twelve months (peer median +10.5%); the operating margin is 40.8% (peer median 37.9%).

Valuation It trades at 24.7× forward earnings against a peer median of 16.4× (4th most expensive of 21).

Relative performance

Six months, rebased to 100: Deutsche Boerse against the median of its 20 peers (local-currency closes).

Deutsche Boerse financials

Reported figures in EUR; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	€7.78B	€8.54B	€8.94B	€7.84B	€5.93B
Revenue growth	—	-5%	+14%	+32%	—
Gross profit	€5.76B	€5.52B	€5.34B	€4.69B	€3.99B
EBITDA	€3.69B	€3.50B	€3.38B	€3.01B	€2.56B
Net income	€2.12B	€2.00B	€1.95B	€1.72B	€1.49B
Free cash flow	€2.91B	€2.75B	€2.35B	€2.50B	€2.37B
Capital expenditure	€426M	€380M	€361M	€268M	€325M
Total debt	n/a	€9.36B	€9.95B	€9.06B	€6.38B

Quarterly statements and history in the cockpit →

Deutsche Boerse competitor charts

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.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Deutsche Boerse is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Deutsche Boerse is the large dot.

Deutsche Boerse competitors and peer comparison

Head to head with its named competitors (DB1.DE vs CME vs ICE vs ENX.PA)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Deutsche Boerse DB1.DE	$63.8B	+32%	+7%	41%	24.7×	n/a
CME CME	$109B	+9%	+9%	66%	23.6×	n/a
Intercontinental Exchange ICE	$96.3B	+11%	+14%	47%	20.1×	n/a
Euronext ENX.PA	$18.8B	+21%	+14%	52%	19.7×	n/a
London Stock Exchange LSEG.L	$60.9B	+1%	+6%	26%	19.6×	n/a
Nasdaq NDAQ	$59.4B	+21%	+12%	31%	23.4×	n/a

How Deutsche Boerse compares with its peers

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.

Deutsche Boerse against its 20 peers (data as of 6 Nov 2026)
Measure	DB1.DE	Peer median	Rank in peer set
1-month return	+9.4%	+1.1%	6th highest of 21
6-month return	+31.6%	+4.1%	highest of 21
Distance from 52-week high	-2.8%	-13.7%	2nd highest of 21
Revenue growth (TTM)	+7.1%	+10.5%	10th lowest of 21
Operating margin	40.8%	37.9%	10th highest of 21
Forward P/E	24.7×	16.4×	4th most expensive of 21

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Deutsche Boerse DB1.DE	Germany	$63.8B	+32%	+7%	41%	24.7×	n/a	n/a
Macquarie MQG.AX	Australia	$63.5B	+5%	+5%	20%	18.1×	n/a	n/a
Deutsche Bank Aktiengesellschaft DBK.DE	Germany	$65.0B	+15%	0%	30%	9.5×	n/a	n/a
HKEX 0388.HK	Hong Kong	$62.2B	-10%	+23%	75%	24.6×	n/a	n/a
Nasdaq NDAQ	United States	$59.4B	+21%	+12%	31%	23.4×	n/a	n/a
CITIC Securities 600030.SS	China	$56.4B	-6%	-16%	54%	10.2×	n/a	n/a
Robinhood Markets HOOD	United States	$72.9B	+5%	+22%	44%	29.7×	n/a	n/a
Barclays BARC.L	United Kingdom	$75.1B	+1%	+7%	22%	8.2×	n/a	n/a
State Street STT	United States	$45.0B	+11%	+2%	33%	11.1×	n/a	n/a
Intercontinental Exchange ICE	United States	$96.3B	+11%	+14%	47%	20.1×	n/a	n/a
BNY Mellon BNY	United States	$99.4B	+13%	-1%	37%	14.7×	n/a	n/a
CME CME	United States	$109B	+9%	+9%	66%	23.6×	n/a	n/a
Cboe Global Markets CBOE	United States	$36.9B	+2%	+14%	36%	23.4×	n/a	n/a
Coinbase COIN	United States	$35.7B	-33%	-48%	-33%	99.3×	n/a	n/a
Interactive Brokers IBKR	United States	$129B	-10%	+16%	87%	23.9×	n/a	n/a
Tradeweb Markets TW	United States	$29.7B	+17%	+14%	44%	27.9×	n/a	n/a
Yuanta Financial Holding Co. Lt 2885.TW	Taiwan	$28.1B	+28%	+78%	28%	14.2×	n/a	n/a
Charles Schwab SCHW	United States	$158B	+3%	+12%	52%	12.2×	n/a	n/a
LPL Financial LPLA	United States	$23.0B	-3%	+31%	13%	10.5×	n/a	n/a
Huatai Securities 601688.SS	China	$22.7B	-7%	-6%	38%	8.3×	n/a	n/a
China International Capital 601995.SS	China	$21.6B	-18%	-20%	55%	10.0×	n/a	n/a

Questions

Who are Deutsche Boerse's main competitors?: Named competitors: CME Group (CME), Intercontinental Exchange (ICE), Euronext NV (ENX.PA), London Stock Exchange Group (LSEG.L), Nasdaq Inc (NDAQ). The cockpit's measured peer set (industry) also includes Macquarie (MQG.AX), Deutsche Bank Aktiengesellschaft (DBK.DE), HKEX (0388.HK), Nasdaq (NDAQ), CITIC Securities (600030.SS), Robinhood Markets (HOOD).
Is Deutsche Boerse expensive compared with its peers?: On forward p/e it trades at 24.7× against a peer median of 16.4×, 4th most expensive of 21 in its peer set.
How has Deutsche Boerse stock performed?: Over six months to 6 Nov 2026 the shares returned +31.6% against +4.1% for the median peer; over one year +53.0%.