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German cybersecurity company providing high-security encryption and secure-communication IT solutions mainly to government and defense agencies.
German cybersecurity company providing high-security encryption and secure-communication IT solutions mainly to government and defense agencies.
Gets most income from projects and licences for German federal agencies, including the BSI, the national cybersecurity authority, where its products must be approved for classified use. Giesecke+Devrient, the Munich security-technology group, is the majority shareholder. Public-sector demand arrives as large orders, so revenue moves with project timing.
In one line: A German government-focused cybersecurity firm like a small Leidos/CACI cyber unit.
Moat: narrow (regulatory licence, customer qualification, IP / patents). Government security-clearance and certification requirements create high barriers to entry, but a small, concentrated customer base.
Headquarters: Essen, Germany · Founded: 1997 · Employees: 1,277
Size secunet Security Networks (YSN.DE) is a Germany Information Technology company (Information Technology Services) with a market value of $1.66B, the 118th largest of 205 Germany companies the cockpit tracks. Shares closed at €229.00 on 6 Nov 2026.
Performance Over six months the shares gained 19.5%, against -12.5% for the median peer and +2.6% for the Germany market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 13.4% over the last twelve months (peer median +4.9%); the operating margin is 10.8% (peer median 6.5%).
Valuation It trades at 37.3× forward earnings against a peer median of 31.1× (6th most expensive of 15).
Capital Return on invested capital runs 13.9 points above its cost of capital (6.9% WACC).
Next results Next results expected around 19 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €492M | €459M | €406M | €394M | €347M |
| Revenue growth | — | +13% | +3% | +13% | — |
| Gross profit | €111M | €106M | €97.3M | €87.4M | €90.2M |
| EBITDA | €77.5M | €74.9M | €60.3M | €57.8M | €62.0M |
| Net income | €34.2M | €33.3M | €28.0M | €29.2M | €31.3M |
| Free cash flow | -€1.32M | €54.3M | €46.8M | €42.4M | -€9.89M |
| Capital expenditure | €12.6M | €8.24M | €14.1M | €8.81M | €5.54M |
| Total debt | n/a | €20.2M | €24.2M | €19.1M | €19.1M |
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 |
|---|---|---|---|---|---|---|
| secunet Security Networks YSN.DE | $1.66B | +20% | +13% | 11% | 37.3× | n/a |
| Thales HO.PA | $51.1B | -1% | +7% | 11% | 20.6× | -2.8% |
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 | YSN.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.3% | -2.7% | 6th lowest of 21 |
| 6-month return | +19.5% | -12.5% | 5th highest of 21 |
| Distance from 52-week high | -14.6% | -34.1% | 2nd highest of 21 |
| Revenue growth (TTM) | +13.4% | +4.9% | 6th highest of 21 |
| Operating margin | 10.8% | 6.5% | 6th highest of 21 |
| Forward P/E | 37.3× | 31.1× | 6th most expensive of 15 |
| ROIC minus cost of capital | +13.9 pp | -4.5 pp | 3rd highest of 20 |
| EV / EBITDA | 19.4× | 24.3× | 4th cheapest of 9 |
| Net debt / EBITDA | 0.3× | -0.9× | 4th most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| secunet Security Networks YSN.DE | Germany | $1.66B | +20% | +13% | 11% | 37.3× | n/a | n/a |
| Simplex Holdings,Inc 4373.T | Japan | $1.66B | +25% | +20% | 23% | 19.4× | 12.4% | +16.3% |
| Mega Fortune MGRT | United States | $1.65B | -14% | -8% | -37% | n/a | n/a | n/a |
| Northking Information Technology 002987.SZ | China | $1.67B | -14% | +1% | 6% | 30.6× | 16.2% | +16.1% |
| Zen Technologies ZENTEC.NS | India | $1.64B | +6% | +4% | 31% | 45.7× | 53.0% | +66.0% |
| CETC Digital Technology 600850.SS | China | $1.62B | -18% | -1% | 2% | 17.3× | 19.1% | +5.8% |
| Omnicell OMCL | United States | $1.70B | -15% | +6% | 5% | 19.5× | 11.7% | +5.8% |
| Shift 3697.T | Japan | $1.71B | +61% | +24% | 11% | 19.2× | -2.2% | +28.6% |
| Transportation Telecommunication and Information Development Inc. Ltd. Zhejiang 300469.SZ | China | $1.72B | -18% | -15% | -102% | n/a | n/a | n/a |
| PDF Solutions PDFS | United States | $1.59B | -27% | +23% | 8% | 26.0× | n/a | n/a |
| Formula Systems (1985) Ltd. Sponsored ADR FORTY | United States | $1.75B | -26% | +1% | 8% | n/a | -3.4% | +6.3% |
| CETC Cyberspace Security Technology 002268.SZ | China | $1.77B | -11% | -3% | 1% | 45.0× | n/a | n/a |
| A10 Networks ATEN | United States | $1.80B | -11% | +12% | 17% | 22.0× | 16.7% | +5.2% |
| Data#3 DTL.AX | Australia | $1.54B | +81% | +6% | 8% | 31.6× | 26.9% | -14.2% |
| Shenzhen YSSTech Information Technology 300377.SZ | China | $1.53B | -24% | +14% | -3% | n/a | n/a | n/a |
| Black Box BBOX.NS | India | $1.53B | +10% | +12% | 7% | 47.3× | n/a | n/a |
| Shenzhen Forms Syntron Information 300468.SZ | China | $1.52B | -33% | +9% | 9% | n/a | n/a | n/a |
| Cetc Potevio Science & Technology 002544.SZ | China | $1.52B | -41% | 0% | 0% | 375.0× | n/a | n/a |
| Guangzhou Sie Consulting 300687.SZ | China | $1.52B | 0% | +3% | -3% | 79.8× | n/a | n/a |
| Neusoft 600718.SS | China | $1.51B | -3% | -5% | -5% | 37.1× | -6.1% | +9.7% |
| Sigma Advanced Systems SIGMAADV.NS | India | $1.83B | +196% | +358% | 12% | n/a | n/a | n/a |