Added to YB: 2026-04-03
Pitch date: 2026-03-31
LUS.DE [bullish]
Lang & Schwarz Aktiengesellschaft
+4.44%
current return
Author Info
No bio for this author
Company Info
Lang & Schwarz Aktiengesellschaft, together with its subsidiaries, engages in the development and issuance of derivative financial instruments in Germany.
Market Cap
EUR 234.1M
Pitch Price
EUR 24.80
Price Target
80.00 (+209%)
Dividend
7.06%
EV/EBITDA
N/A
P/E
N/A
EV/Sales
N/A
Sector
Capital Markets
Category
value
Lang & Schwarz (LUS.DE): A Record-Breaking Market Maker at 3-4 times earnings?
LUS.DE: Record 2025 results: trading vol +116% to €334B, trades +79% to 108M, adj net income +41%. 40% ROE, 7.4% div yield. Trading at 3-4x P/E, barely above book. Fair PE model: 10x multiple on conservative €8 2028 EPS = €80 PT (~60% annual return). Risks: Trade Republic dependency (got MTF license, poached key exec), PFOF ban July 2026, cyclicality. Catalysts: Q1 2026 strong, Wikifolio stake, MiCAR crypto, €2 div (+15%).
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