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Hellenic Exchanges Athens Stock Exchange SA
ATHEX:EXAE

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Hellenic Exchanges Athens Stock Exchange SA
ATHEX:EXAE
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Price: 7.13 EUR -1.66% Market Closed
Market Cap: €430.3m

EV/EBIT

8.4
Current
25%
Cheaper
vs 3-y average of 11.3

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
8.4
=
Enterprise Value
€310.9m
/
EBIT
€37.7m

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
8.4
=
Enterprise Value
€310.9m
/
EBIT
€37.7m

Valuation Scenarios

Hellenic Exchanges Athens Stock Exchange SA is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (11.3), the stock would be worth €9.5 (33% upside from current price).

Statistics
Positive Scenarios
3/4
Maximum Downside
-18%
Maximum Upside
+58%
Average Upside
25%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 8.4 €7.13
0%
3-Year Average 11.3 €9.5
+33%
5-Year Average 13.3 €11.25
+58%
Industry Average 7 €5.88
-18%
Country Average 10.8 €9.13
+28%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
€310.9m
/
Jan 2026
€37.7m
=
8.4
Current
€310.9m
/
Dec 2026
€33.5m
=
9.3
Forward
€310.9m
/
Dec 2027
€36.2m
=
8.6
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close

Market Distribution

In line with most companies in Greece
Percentile
30th
Based on 216 companies
30th percentile
8.4
Low
1.8 — 8.4
Typical Range
8.4 — 16.5
High
16.5 —
Distribution Statistics
Greece
Min 1.8
30th Percentile 8.4
Median 10.8
70th Percentile 16.5
Max 3 582.9

Hellenic Exchanges Athens Stock Exchange SA
Glance View

Hellenic Exchanges-Athens Stock Exchange SA is a holding company which engages in settlement of off-exchange transfers on transferrable securities. The company is headquartered in Athina, Attiki and currently employs 228 full-time employees. The company went IPO on 2000-08-21. The company operates through its subsidiaries Hellenic Central Securities Depository (ATHEXCSD) and Athens Exchange Clearing House (ATHEXClear) in the following segments: Trading, Clearing, Settlement, Data Feed, Information Technology (IT), Exchange Services, Depository Services, Clearing House Services, as well as Other. The Company’s purpose is the participation in companies and businesses having activities related to the support and operation of organized capital markets, as well as the development of activities and provision of services related to the support and operation of organized capital markets. Furthermore its purpose is the organization and support of the operation of a cash market, a derivatives market, as well as other financial means in Greece and abroad.

EXAE Intrinsic Value
7.61 EUR
Undervaluation 6%
Intrinsic Value
Price €7.13
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