Loading…
German out-of-home advertising company operating billboards and digital screens, plus online classifieds and digital media businesses.
German out-of-home advertising company operating billboards and digital screens, plus online classifieds and digital media businesses.
Sells advertising time on billboards and screens sited under long concessions with cities and transport operators, and pays rent for those sites, so winning or losing a concession matters; sales move with advertising budgets. Digital screens let it sell by the day or hour, and its online portal t-online and call-centre sales arm diversify away from poster ads.
In one line: A German Clear Channel Outdoor plus a classifieds portfolio.
Moat: narrow (scale, installed base, regulatory licence). Leading German OOH advertising site network under municipal contracts, plus growing digital-classifieds portfolio.
Headquarters: Cologne, Germany · Founded: 1990 · Employees: 13,743
Size Stroeer SE & Co. KGaA (SAX.DE) is a Germany Communication Services company (Advertising/Marketing Services) with a market value of $2.41B, the 101st largest of 205 Germany companies the cockpit tracks. Shares closed at €38.92 on 6 Nov 2026.
Performance Over six months the shares fell 1.2%, against -5.2% for the median peer and +2.6% for the Germany market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 3.4% over the last twelve months (peer median +11.2%); the operating margin is 11.3% (peer median 2.7%).
Valuation It trades at 13.3× forward earnings against a peer median of 20.9× (7th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.9 points above its cost of capital (6.7% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €2.13B | €2.08B | €2.05B | €1.91B | €1.77B |
| Revenue growth | — | +1% | +7% | +8% | — |
| Gross profit | €895M | €872M | €868M | €769M | €724M |
| EBITDA | €573M | €578M | €582M | €541M | €529M |
| Net income | €123M | €126M | €131M | €92.8M | €143M |
| Free cash flow | €318M | €316M | €359M | €270M | €247M |
| Capital expenditure | €108M | €94.8M | €95.5M | €131M | €164M |
| Total debt | €1.88B | €1.69B | €1.71B | €1.64B | €1.62B |
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 |
|---|---|---|---|---|---|---|
| Stroeer SE & Co. KGaA SAX.DE | $2.41B | -1% | +3% | 11% | 13.3× | 4.5% |
| Clear Channel Outdoor CCO | n/a | +2% | n/a | n/a | n/a | n/a |
| JCDecaux DEC.PA | $6.40B | +42% | +1% | 12% | 18.6× | 6.6% |
| Lamar Advertising LAMR | $15.8B | -1% | +4% | 32% | 25.0× | n/a |
| OUTFRONT Media OUT | $5.42B | -9% | +8% | 20% | 22.2× | n/a |
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 | SAX.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.0% | +2.6% | 8th highest of 21 |
| 6-month return | -1.2% | -5.2% | 10th highest of 21 |
| Distance from 52-week high | -7.3% | -37.8% | 5th highest of 21 |
| Revenue growth (TTM) | +3.4% | +11.2% | 8th lowest of 21 |
| Operating margin | 11.3% | 2.7% | 2nd highest of 21 |
| Forward P/E | 13.3× | 20.9× | 7th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 4.5% | 16.6% | 7th least demanding of 16 |
| Growth delivered (Del g) | +7.5% | +8.8% | 8th lowest of 16 |
| Hurdle (Req g minus delivered) | -3.1 pp | -7.7 pp | 7th most demanding of 16 |
| ROIC minus cost of capital | +0.9 pp | -2.3 pp | 9th highest of 21 |
| EV / EBITDA | 6.9× | 6.6× | 4th most expensive of 8 |
| Net debt / EBITDA | 3.2× | -0.6× | most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Stroeer SE & Co. KGaA SAX.DE | Germany | $2.41B | -1% | +3% | 11% | 13.3× | 4.5% | +7.5% |
| Havas HAVAS.AS | Netherlands | $1.99B | +10% | +1% | 9% | 8.2× | -8.4% | +1.8% |
| Guangdong Guangzhou Daily Media 002181.SZ | China | $1.96B | -32% | 0% | -6% | n/a | n/a | n/a |
| Hakuhodo Dy 2433.T | Japan | $3.05B | +34% | -6% | 5% | 20.9× | -2.8% | +3.8% |
| Easy Click Worldwide Network Technology 301171.SZ | China | $3.20B | +3% | +29% | 2% | 99.2× | 57.4% | +9.1% |
| Pattern PTRN | United States | $3.24B | +15% | +44% | 1% | 24.0× | 37.8% | +36.2% |
| Guangdong Advertising 002400.SZ | China | $1.72B | -27% | +11% | 0% | n/a | n/a | n/a |
| Marketingforce Management 2556.HK | Hong Kong | $1.53B | +10% | +128% | 6% | 24.2× | 16.6% | +38.8% |
| Hunan TV & Broadcast Intermediary 000917.SZ | China | $1.43B | -23% | -2% | 3% | n/a | 17.1% | -6.1% |
| Sharplink SBET | United States | $1.36B | -16% | +1,497% | -19% | 80.5× | n/a | n/a |
| New Guomai Digital Culture 600640.SS | China | $1.35B | -8% | -11% | -2% | n/a | 57.0% | -16.4% |
| InMyShow Digital Technology (Group) 600556.SS | China | $1.33B | -17% | +25% | -2% | 492.0× | n/a | n/a |
| Three's Company Future Technology 605168.SS | China | $1.32B | -12% | +11% | 6% | 35.4× | 33.3% | +5.5% |
| CheilWorldwide 030000.KS | South Korea | $1.26B | -2% | -4% | 7% | 10.8× | -17.6% | +10.6% |
| ANYCOLOR 5032.T | Japan | $1.23B | +16% | +10% | 35% | 12.2× | -8.9% | +48.8% |
| Sunwave Communications 002115.SZ | China | $1.21B | -35% | +102% | 1% | n/a | 26.1% | +6.5% |
| QuinStreet QNST | United States | $1.18B | +58% | +18% | 3% | 12.3× | 9.8% | +17.5% |
| Trump Media & Technology DJT | United States | $1.11B | -55% | +22% | -4,052% | n/a | n/a | n/a |
| WPP WPP.L | United Kingdom | $5.93B | +58% | -6% | 9% | 7.8× | -8.1% | +2.5% |
| Compagnie du Cambodge CBDG.PA | France | $6.33B | -11% | +45% | -11% | n/a | 55.9% | +269.1% |
| Dentsu 4324.T | Japan | $6.37B | +30% | +4% | 10% | 12.8× | -12.0% | +8.8% |