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Hellenic Exchanges - Athens Stock Exchange S.A. (EXAE.AT)

EUR7.49 +0.11 (+1.49%)
GR ATH Financial Services Financial - Data & Stock Exchanges
Address 110 Athinon Avenue 10442
Athens, GR
CEO Yianos Kontopoulos
IPO 2000-08-22
ISIN GRS395363005

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Also trades on Athens Stock Exchange · EXAE.AT (EUR) Other OTC · HEHSF (USD) Other OTC · HEXEY (USD)
Description

Hellenic Exchanges - Athens Stock Exchange SA (EXAE.AT), a company founded in 1876 and headquartered in Athens, Greece, serves as a vital pillar for the Greek financial market. This entity manages and oversees various operational aspects of the capital market. It is responsible for running the primary markets for both stocks (equities) and derivatives, alongside an alternative trading platform. A core function of the company involves the comprehensive processing and finalization of financial transactions. This includes clearing, settlement, and reconciliation of trades, ensuring their smooth completion. Furthermore, the company acts as a central counterparty and system administrator for the Athens Exchange Clearing House, playing a crucial role in maintaining system integrity and efficiency. Beyond market operation and trade processing, it also provides central securities depository (CSD) services and a range of complementary offerings. Its extensive portfolio of services spans from facilitating the listing of securities and enabling trading to managing registries, ensuring regulatory compliance, and delivering financing solutions. The company adopted its current name, Hellenic Exchanges - Athens Stock Exchange SA, in December 2013, having previously operated under the name Hellenic Exchanges S.A.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
EUR7.49 +0.11 (+1.49%)
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Volume Profile
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Liquidity & share structure
Average Volume
19.3K
Beta
0.42
Float Shares
55.34M
Free Float %
95.7%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-0.27% +0.14% +4.68% +7.74% +17.33% +16.77% +22.59% +44.14% +75.71% +39.25% -50.10%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
7.49
DCF (Unlevered) 34.10 +355.3%
DCF (Levered) 39.41 +426.1%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 100% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 1 -1
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
1.07
Distress
Piotroski F-Score
7 / 9
Strong
MOAT Score
8 / 10
Strong MOAT
Composite Rating
A+
Overall Score
4 / 5
High
DCF Score
4 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
4 / 5
High
P/E Score
4 / 5
High
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers ★ Strong MOAT
  • Revenue growth Financial - Data & Stock Exchanges: +11.9%
    +59.2% Q4'25: +49.2% (vs Q4'24)
  • EPS growth Financial - Data & Stock Exchanges: +19.9%
    +106.7% Q4'25: +126.6% (vs Q4'24)
  • FCF margin FCF growth · Financial - Data & Stock Exchanges: +25.6%
    +57.1% Q4'25: +45.0% (vs Q4'24)
  • EBIT margin Financial - Data & Stock Exchanges: +51.8%
    +47.5% Q4'25: +29.3% (vs Q4'24)
  • ROIC Financial - Data & Stock Exchanges: +13.5%
    +137.1% Q4'25: +83.6% (vs Q4'24)
  • Share dilution Financial - Data & Stock Exchanges: +0.6%
    -12.2% Q4'25: -47.8% (vs Q4'24)
  • Debt / EBITDA Net debt/EBITDA · Financial - Data & Stock Exchanges: -0.36×
    0.01× Q4'25: 0.01× (vs Q4'24)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.42) × ERP
WACC = 100% × Ke + 0% × Kd (16.7%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 34.10 Current price: 7.49
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
1 Rev. Ana.
1 EPS Ana.
Dec 2027
1 Rev. Ana.
1 EPS Ana.
Dec 2028
1 Rev. Ana.
Dec 2029
1 Rev. Ana.
Revenue
33.68M
est: 34.16M (-1.4%)
25.62M
est: 29.02M (-11.7%)
26.35M
est: 27.02M (-2.5%)
25.24M
est: 27.67M (-8.8%)
31.80M
est: 30.95M (+2.7%)
30.40M
est: 30.83M (-1.4%)
35.79M
est: 35.16M (+1.8%)
37.47M
est: 38.55M (-2.8%)
46.78M
est: 48.91M (-4.4%)
53.90M
est: 54.17M (-0.5%)
85.82M
est: 60.00M (+43.0%)
64.00M
64.00M – 64.00M
+6.7% YoY
69.00M
65.75M – 72.25M
+7.8% YoY
72.82M
72.82M – 72.82M
+5.5% YoY
77.51M
77.51M – 77.51M
+6.4% YoY
EBITDA
15.61M
est: 13.75M (+13.5%)
6.38M
est: 11.68M (-45.4%)
8.30M
est: 10.87M (-23.6%)
7.65M
est: 11.13M (-31.3%)
13.71M
est: 12.45M (+10.1%)
9.25M
est: 12.40M (-25.4%)
14.08M
est: 14.15M (-0.5%)
14.23M
est: 15.51M (-8.2%)
20.73M
est: 21.86M (-5.2%)
26.48M
est: 24.21M (+9.3%)
45.27M
est: 26.82M (+68.8%)
28.61M
28.61M – 28.61M
+6.7% YoY
30.84M
29.39M – 32.30M
+7.8% YoY
32.55M
32.55M – 32.55M
+5.5% YoY
34.65M
34.65M – 34.65M
+6.4% YoY
EBIT
13.53M
est: 10.17M (+33.1%)
3.50M
est: 8.64M (-59.5%)
5.24M
est: 8.04M (-34.8%)
4.14M
est: 8.23M (-49.7%)
9.63M
est: 9.21M (+4.5%)
5.04M
est: 9.17M (-45.0%)
9.58M
est: 10.46M (-8.4%)
10.48M
est: 11.47M (-8.6%)
16.91M
est: 17.58M (-3.8%)
22.27M
est: 19.47M (+14.4%)
40.77M
est: 21.56M (+89.1%)
23.00M
23.00M – 23.00M
+6.7% YoY
24.80M
23.63M – 25.97M
+7.8% YoY
26.17M
26.17M – 26.17M
+5.5% YoY
27.86M
27.86M – 27.86M
+6.4% YoY
Net Income
9.04M
est: 7.51M (+20.4%)
1.43M
est: 3.94M (-63.7%)
3.08M
est: 3.42M (-10.0%)
3.03M
est: 2.97M (+2.0%)
6.08M
est: 6.17M (-1.5%)
3.87M
est: 4.55M (-14.9%)
8.21M
est: 7.67M (+7.1%)
8.21M
est: 7.33M (+12.1%)
13.00M
est: 13.88M (-6.3%)
17.34M
est: 14.99M (+15.7%)
31.60M
est: 16.77M (+88.5%)
18.29M
18.29M – 18.29M
+9.1% YoY
20.32M
20.32M – 20.32M
+11.1% YoY
— – —
-100.0% YoY
— – —
SGA
828.0K
est: 2.12M (-61.0%)
868.0K
est: 1.80M (-51.9%)
1.42M
est: 1.68M (-15.2%)
1.52M
est: 1.72M (-11.9%)
1.75M
est: 1.92M (-9.1%)
2.47M
est: 1.92M (+29.0%)
2.48M
est: 2.18M (+13.5%)
2.39M
est: 2.40M (-0.1%)
2.17M
est: 3.15M (-31.1%)
2.69M
est: 3.49M (-23.0%)
7.95M
est: 3.86M (+105.7%)
4.12M
4.12M – 4.12M
+6.7% YoY
4.44M
4.23M – 4.65M
+7.8% YoY
4.69M
4.69M – 4.69M
+5.5% YoY
4.99M
4.99M – 4.99M
+6.4% YoY
EPS
0.14
est: 0.13 (+7.8%)
0.02
est: 0.07 (-67.1%)
0.05
est: 0.06 (-13.7%)
0.05
est: 0.05 (-2.2%)
0.10
est: 0.11 (-6.3%)
0.06
est: 0.08 (-18.4%)
0.14
est: 0.13 (+5.7%)
0.14
est: 0.13 (+10.5%)
0.21
est: 0.27 (-23.1%)
0.30
est: 0.30 (+1.7%)
0.62
est: 0.33 (+87.9%)
0.36
0.36 – 0.36
+9.1% YoY
0.40
0.40 – 0.40
+11.1% YoY
— – —
-100.0% YoY
— – —
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 A+ 4/5 4/5 5/5 5/5 4/5 4/5 2/5
2026-05-28 A+ 4/5 4/5 5/5 5/5 4/5 4/5 2/5
2026-05-27 A+ 4/5 4/5 5/5 5/5 4/5 4/5 2/5
2026-05-26 A+ 4/5 4/5 5/5 5/5 4/5 4/5 2/5
2026-05-25 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-22 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-21 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-20 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-19 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-18 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-15 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-14 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-13 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-12 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-11 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-08 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-07 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-06 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-05 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-05-04 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-04-30 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-04-29 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-04-28 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-04-27 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-04-24 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-04-23 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-04-22 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-04-21 C+ 2/5 4/5 1/5 1/5 1/5 4/5 1/5
2026-04-20 C+ 2/5 5/5 1/5 1/5 1/5 4/5 1/5
2026-04-17 C+ 2/5 5/5 1/5 1/5 1/5 4/5 1/5
2026-04-16 C+ 2/5 5/5 1/5 1/5 1/5 4/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
58.38M
OE per share TTM
1.01
Owner's Yield
26.21%
Maintenance CapEx ratio
62.94%
Maint CapEx / Avg PPE
48.9%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 15 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Global X - MSCI Greece ETF GREK 0.28% 805.4K 0.56%
2 Vanguard FTSE All-World ex-US Small-Cap ETF VSS 0.00% 484.9K 0.06%
3 Vanguard FTSE Emerging Markets All Cap Index ETF VEE.TO 0.00% 33.6K 0.26%
4 Vanguard FTSE Emerging Markets Shares ETF VGE.AX 0.00% 14.9K 0.48%
5 Vanguard FTSE Emerging Markets ETF VWO 0.00% 1.66M 0.06%
6 Vanguard ESG Global All Cap UCITS ETF (USD) Distributing V3AL.L 0.00% 10.4K 0.24%
7 Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating V3AA.L 0.00% 10.4K 0.24%
8 Vanguard Total International Stock ETF VXUS 0.00% 2.02M 0.05%
9 Vanguard FTSE Global All Cap ex Canada Index ETF VXC.TO 0.00% 2.7K 0.22%
10 Vanguard All-Equity ETF Portfolio VEQT.TO 0.00% 8.0K 0.22%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
160.5K
Shares Outstanding
57.85M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Yianos Kontopoulos Chief Executive Officer & Executive Director 820.0K
Georgia Mourla Chief Internal Audit Officer female
Katerina Karampampa Chief Communication & Marketing Officer and Head of Unit female
Nikolaos Evangellos Porfyris Chief Operating Officer male
Nikolaos Koskoletos Chief Financial & Issuer Relations Officer male
Anastasia Bikou Deputy Chief Sales & Business Development Officer and Deputy Chief Officer female
Stavros Cosmetatos Chief Human Resources & Administrative Support Officer and Deputy Chief Officer male
Stavros Fokas – Cosmetatos Chief Human Resources & Administrative Support Officer and Deputy Chief Officer male
Stelios Konstantinou Head of Investor Relations male
Theodoros Zarros Chief Technology Officer male
Smaragda Rigakou General Counsel, Chief Legal, Regulatory & Compliance Officer and Chief Officer female
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits