Euronext N.V. (ENX) Fair Value & Analysis
Financial Services · FR · Market cap €14.9B · ISIN NL0006294274
What is Euronext N.V. really worth?
A solid business, but trading 91% above our fair value of €83.79.
Strengths
Risks
Fair value as of: Sep 1, 2026
From 13 valuation models · updated 4 days ago
Share price −0.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (€118.03). The favourable scenario is already priced in.
- Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (€58.50 to €118.03) leaves room in how you read the outcome.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.
How to read this chart
60‑month range €55.52 – €165.30 · fair‑value band €58.50 – €118.03 · the €160.30 price screens above the €83.79 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.
Analysis
Euronext N.V. (ENX) currently trades at €160.30, while our model-based Fair Value estimate is €83.79, implying the stock looks roughly 91.3% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Financial Services sector. Bull case: the DCF Models group reads highest at a median of €104.58 per share, and 1 of the 13 models we run sit above the €160.30 price. Bear case: the Asset-Based group reads lowest at €30.48, and 12 of the 13 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Euronext N.V. generated revenue of €1.9B at a net margin of 35.5%. Revenue grew 14.9% year over year. It earns a return on equity of 15.5%. Net debt stands at €1.8B. Fundamentals as of Sep 1, 2026
Our scenario range runs from €58.50 (bear case) to €118.03 (bull case); at €160.30, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 49% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −55% fair-value upside, at −48%, ENX screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €4.45 per share, which is 5.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 13 models by family
Widest divergence: DCF Models (€104.58) versus Asset-Based (€30.48). Highest evidence: Growth DCF (75).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 51 · Market factors (momentum, volatility) 70
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Euronext N.V., together with its subsidiaries, operates securities and derivatives exchanges in the Netherlands, France, Italy, Belgium, Portugal, Ireland, the United States, Norway, Denmark, and internationally.
Full company description
Euronext N.V., together with its subsidiaries, operates securities and derivatives exchanges in the Netherlands, France, Italy, Belgium, Portugal, Ireland, the United States, Norway, Denmark, and internationally. The company offers a range of exchange and corporate services, including security listings, cash and derivatives trading, and market data dissemination. It also provides listing venues and cash equities trading venues; and various marketplaces comprising multilateral trading facilities for investors, broker-dealers, and other market participants to meet directly to buy and sell cash equities, fixed income securities, and exchange traded products. In addition, the company offers options contracts based on the blue-chip equities listed on Euronext; commodity derivatives, such as milling wheat futures contracts; and post-trade services, as well as distributes and sells real-time, historic, and reference data to data vendors, and financial institutions and individual investors. Further, it provides listing; cash, derivatives, fixed income, foreign exchange, and power trading; investor; advances data; clearing; custody and settlement; NTI; and other services. Additionally, it offers technology solutions and services to exchanges, venue operators, and financial institutions; colocation and network services; and software and services licensed by third parties. The company was formerly known as Euronext Group N.V. and changed its name to Euronext N.V. in May 2014. Euronext N.V. was founded in 2000 and is headquartered in Amsterdam, the Netherlands.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Euronext N.V. reported revenue of €1.8B in FY2025 versus €1.3B in FY2021, a compound +9.0%/yr. Reported net income was €643M in FY2025, compounding +11.7%/yr from FY2021.
of which total revenue +14.0 % · buybacks/dilution −3.4 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
ENX screens 91% overvalued. Compare with S&P Global Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Euronext announces volumes for July 2026
- Euronext NV (EUXTF) (Q2 2026) Earnings Call Highlights: Record Revenue and EBITDA Fueled by ...
- Euronext publishes Q2 2026 results
- Euronext announces the cancellation of repurchased shares
Peer Group
Financial Data & Stock Exchanges · 53 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Financial Data & Stock Exchanges median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Financial Data & Stock Exchanges stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| S&P Global Inc SPGI | $435.39 | $196.36 | −55% |
| CME Group CME | $285.80 | $145.51 | −49% |
| Moody's Corporation MCO | $514.95 | $192.63 | −63% |
| Intercontinental Exchange, Inc ICE | $162.33 | $75.95 | −53% |
| Hong Kong Exchanges and Clearing Limited 80388 | HK$360.20 | HK$280.07 | −22% |
| Deutsche Börse AG DB1 | €291.20 | €142.42 | −51% |
| Nasdaq, Inc NDAQ | $99.35 | $41.12 | −59% |
| MSCI Inc MSCI | $570.76 | $214.91 | −62% |
| Coinbase Global, Inc COIN | $190.72 | $73.66 | −61% |
| Cboe Global Markets, Inc CBOE | $310.45 | $136.64 | −56% |
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