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secunet Security Networks AG (YSN.DE)

EUR168.40 -0.80 (-0.47%)
DE XETRA Technology Software - Infrastructure
Address Kurfürstenstraße 58 45138
Essen, DE
CEO Marc-Julian Siewert
IPO 1999-11-12
ISIN DE0007276503

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Also trades on Deutsche Börse · YSN.DE (EUR) London Stock Exchange · 0NWC.L (EUR)
Description

secunet Security Networks AG is a leading cybersecurity firm operating across Germany and on an international scale. The company provides a comprehensive suite of security solutions, including advanced biometric and electronic identity (eID) systems. These offerings feature middleware for biometric integration (secunet biomiddle), flexible border control applications for both static and mobile use (secunet bocoa), and automated border control systems like easygate, easykiosk for personal data collection, and easytower for biometric acquisition. Additionally, it develops specialized testing instruments such as the GlobalTester for smart cards and document readers, and the acclaimed Golden Reader Tool for electronic identity document readout. Its portfolio also encompasses robust cryptographic services, dedicated hardware security modules, and secure communication devices like the SINA Communicator H, a multi-crypto phone. Network security is enhanced with solutions such as the secunet Session Border Controller, which efficiently filters audio and video protocols. Further technological provisions include edge computing solutions (secunet edge), public key infrastructure specifically designed for automotive applications, and specialized connectors for healthcare telematics, such as the secunet konnektor for health networks and data center connectors for large medical facilities. secunet also offers services for digital identity protection (protect4use), isolated browsing environments for safely handling external content (secunet safe surfer), and secure systems for managing classified information (SINA Workflow). Its extensive service catalog includes IT security outsourcing, business continuity management, data protection management, and comprehensive information security management. For secure infrastructure, the company provides SecuStack, a turnkey cloud solution safeguarding critical applications and sensitive data, alongside Stashcat, a secure messaging platform widely used by police, public authorities, and corporate clients. Moreover, secunet delivers a range of advisory and analytical services, including security audits, penetration tests, anomaly detection, secure web solutions, and general security consulting. The company was established in 1997 and is headquartered in Essen, Germany.

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
EUR168.40 -0.80 (-0.47%)
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Volume Profile
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Liquidity & share structure
Average Volume
3.6K
Beta
0.98
Float Shares
1.61M
Free Float %
24.9%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-0.84% -3.29% -0.63% -0.21% +5.03% +3.18% -5.34% -6.00% -39.94% +607.56% +889.47%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
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Annual Monthly Returns
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Daily Returns Distribution
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Revenue flow

Revenue by geography

Revenue by segment

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Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
168.40
DCF (Unlevered) 154.92 -8.0%
DCF (Levered) 159.19 -5.5%

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 1 0
Buy 2 -1
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
6.73
Safe zone
Piotroski F-Score
7 / 9
Strong
MOAT Score
4 / 10
Developing
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
3 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Software - Infrastructure: +13.7%
    +12.9% Q4'25: -52.3% (vs Q4'23)
  • EPS growth Software - Infrastructure: +28.7%
    +19.2% Q4'25: -12.4% (vs Q4'23)
  • FCF margin FCF growth · Software - Infrastructure: +32.2%
    +11.4% Q4'25: +56.6% (vs Q4'23)
  • EBIT margin Software - Infrastructure: +8.8%
    +11.4% Q4'25: +32.0% (vs Q4'23)
  • ROIC Software - Infrastructure: +6.6%
    +34.0% Q4'25: +94.4% (vs Q4'23)
  • Share dilution Software - Infrastructure: +0.0%
    +0.0% Q4'25: +0.0% (vs Q4'23)
  • Debt / EBITDA Net debt/EBITDA · Software - Infrastructure: -1.06×
    0.27× Q4'25: 0.12× (vs Q4'23)
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 (0.98) × ERP
WACC = 98% × Ke + 2% × Kd (4.4%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 153.63 Current price: 168.40
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 2008
actual
Dec 2009
actual
Dec 2010
actual
Dec 2011
actual
Dec 2012
actual
Dec 2013
actual
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
3 Rev. Ana.
3 EPS Ana.
Dec 2027
3 Rev. Ana.
3 EPS Ana.
Dec 2028
3 Rev. Ana.
3 EPS Ana.
Revenue
52.08M
est: 53.29M (-2.3%)
63.96M
est: 64.86M (-1.4%)
59.46M
est: 59.12M (+0.6%)
55.59M
est: 56.43M (-1.5%)
67.24M
est: 68.01M (-1.1%)
63.89M
est: 64.86M (-1.5%)
91.09M
est: 90.40M (+0.8%)
115.71M
est: 115.70M (+0.0%)
158.32M
est: 160.00M (-1.0%)
163.29M
est: 164.34M (-0.6%)
226.90M
est: 226.90M (+0.0%)
285.59M
est: 285.60M (0.0%)
337.62M
est: 337.60M (+0.0%)
347.22M
est: 344.74M (+0.7%)
393.68M
est: 386.46M (+1.9%)
406.38M
est: 404.61M (+0.4%)
458.83M
est: 458.80M (+0.0%)
503.23M
498.40M – 508.80M
+9.7% YoY
554.40M
545.70M – 569.80M
+10.2% YoY
609.77M
609.75M – 609.78M
+10.0% YoY
EBITDA
3.05M
est: 6.02M (-49.3%)
4.73M
est: 4.07M (+16.4%)
4.65M
est: 4.76M (-2.3%)
4.89M
est: 4.47M (+9.5%)
6.71M
est: 12.11M (-44.5%)
4.66M
est: 11.55M (-59.6%)
9.89M
est: 16.43M (-39.8%)
15.29M
est: 21.03M (-27.3%)
25.45M
est: 29.08M (-12.5%)
29.07M
est: 26.10M (+11.4%)
39.82M
est: 39.79M (+0.1%)
59.61M
est: 51.91M (+14.8%)
73.82M
est: 47.92M (+54.0%)
62.10M
est: 62.61M (-0.8%)
60.24M
est: 66.79M (-9.8%)
60.49M
est: 69.93M (-13.5%)
75.59M
est: 79.29M (-4.7%)
86.97M
86.13M – 87.93M
+9.7% YoY
95.81M
94.31M – 98.47M
+10.2% YoY
105.38M
105.38M – 105.38M
+10.0% YoY
EBIT
2.22M
est: 4.40M (-49.6%)
3.91M
est: 2.31M (+69.2%)
3.67M
est: 4.01M (-8.4%)
3.99M
est: 3.44M (+16.2%)
5.78M
est: 9.59M (-39.7%)
3.70M
est: 9.15M (-59.6%)
8.78M
est: 13.02M (-32.6%)
13.79M
est: 16.66M (-17.2%)
23.66M
est: 23.04M (+2.7%)
26.77M
est: 24.06M (+11.3%)
33.22M
est: 37.20M (-10.7%)
51.67M
est: 41.13M (+25.6%)
63.88M
est: 48.62M (+31.4%)
46.92M
est: 49.61M (-5.4%)
42.99M
est: 50.48M (-14.8%)
42.70M
est: 52.85M (-19.2%)
52.36M
est: 59.93M (-12.6%)
65.73M
65.10M – 66.46M
+9.7% YoY
72.41M
71.28M – 74.42M
+10.2% YoY
79.64M
79.64M – 79.65M
+10.0% YoY
Net Income
1.73M
est: 3.40M (-49.1%)
2.41M
est: 2.07M (+16.4%)
1.82M
est: 2.64M (-31.2%)
2.70M
est: 1.72M (+57.4%)
3.69M
est: 3.81M (-3.2%)
2.38M
est: 2.50M (-4.8%)
6.10M
est: 4.79M (+27.3%)
9.22M
est: 9.45M (-2.5%)
15.87M
est: 15.28M (+3.8%)
17.92M
est: 16.28M (+10.1%)
22.27M
est: 24.77M (-10.1%)
35.11M
est: 35.29M (-0.5%)
43.10M
est: 43.58M (-1.1%)
31.31M
est: 31.97M (-2.1%)
29.15M
est: 27.65M (+5.4%)
27.95M
est: 28.71M (-2.6%)
33.34M
est: 34.78M (-4.1%)
39.43M
39.21M – 39.79M
+13.4% YoY
47.70M
46.13M – 49.30M
+21.0% YoY
54.87M
52.34M – 57.00M
+15.0% YoY
SGA
est: 21.75M (-100.0%)
8.05M
est: 22.88M (-64.8%)
est: 20.24M (-100.0%)
8.63M
est: 22.34M (-61.4%)
9.02M
est: 6.32M (+42.6%)
11.76M
est: 8.58M (+37.0%)
14.22M
est: 8.58M (+65.7%)
15.90M
est: 10.98M (+44.8%)
19.19M
est: 15.19M (+26.3%)
19.87M
est: 19.68M (+0.9%)
22.09M
est: 27.57M (-19.8%)
27.19M
est: 27.11M (+0.3%)
30.23M
est: 32.05M (-5.7%)
33.09M
est: 32.70M (+1.2%)
36.67M
est: 36.48M (+0.5%)
41.08M
est: 38.20M (+7.6%)
42.63M
est: 43.31M (-1.6%)
47.50M
47.05M – 48.03M
+9.7% YoY
52.33M
51.51M – 53.79M
+10.2% YoY
57.56M
57.56M – 57.56M
+10.0% YoY
EPS
0.27
est: 0.26 (+4.8%)
0.37
est: 0.44 (-16.7%)
0.28
est: 0.40 (-30.7%)
0.42
est: 0.39 (+6.6%)
0.57
est: 0.59 (-2.7%)
0.37
est: 0.38 (-3.6%)
0.94
est: 0.74 (+27.0%)
1.43
est: 1.46 (-2.1%)
2.45
est: 2.36 (+3.8%)
2.77
est: 2.75 (+0.9%)
3.44
est: 3.50 (-1.7%)
5.43
est: 5.45 (-0.4%)
6.66
est: 6.73 (-1.0%)
4.84
est: 4.94 (-2.0%)
4.51
est: 4.27 (+5.5%)
4.32
est: 4.42 (-2.2%)
5.15
est: 5.38 (-4.2%)
6.10
6.06 – 6.15
+13.5% YoY
7.39
7.13 – 7.62
+21.1% YoY
8.50
8.09 – 8.81
+15.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-11 A- 4/5 4/5 5/5 5/5 3/5 2/5 1/5
2026-05-08 B+ 3/5 4/5 5/5 4/5 3/5 2/5 1/5
2026-05-07 B+ 3/5 4/5 5/5 4/5 3/5 2/5 1/5
2026-05-06 B+ 3/5 4/5 5/5 4/5 3/5 2/5 1/5
2026-05-05 A- 4/5 4/5 5/5 4/5 3/5 2/5 2/5
2026-05-04 A- 4/5 4/5 5/5 4/5 3/5 2/5 2/5
2026-04-30 B+ 3/5 3/5 4/5 4/5 3/5 2/5 2/5
2026-04-29 B+ 3/5 3/5 4/5 4/5 3/5 2/5 2/5
2026-04-28 B+ 3/5 3/5 4/5 4/5 3/5 2/5 2/5
2026-04-27 B+ 3/5 3/5 4/5 4/5 3/5 2/5 2/5
2026-04-24 B+ 3/5 3/5 4/5 4/5 3/5 2/5 2/5
2026-04-23 B 3/5 3/5 4/5 4/5 2/5 2/5 2/5
2026-04-22 B 3/5 3/5 4/5 4/5 2/5 2/5 2/5
2026-04-21 B 3/5 3/5 4/5 4/5 2/5 2/5 2/5
2026-04-20 B 3/5 3/5 4/5 4/5 2/5 2/5 2/5
2026-04-17 B 3/5 3/5 4/5 4/5 2/5 2/5 2/5
2026-04-16 B 3/5 3/5 4/5 4/5 2/5 2/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
99.82M
OE per share TTM
15.43
Owner's Yield
8.10%
Maintenance CapEx ratio
68.86%
Maint CapEx / Avg PPE
8.0%

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 60 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Amundi SDAX UCITS ETF Dist C005.DE 0.70% 1.25M 0.70%
2 Amundi MSCI EMU Small Cap ESG Broad Transition UCITS ETF Dist MMS.PA 0.16% 1.12M 0.40%
3 Amundi MSCI Europe Small Cap ESG Broad Transition UCITS ETF Acc CEM.PA 0.06% 218.9K 0.23%
4 Amundi MSCI Europe Small Cap ESG Broad Transition UCITS ETF Dist X026.DE 0.06% 218.9K 0.23%
5 UBS MSCI EMU Small Cap UCITS ETF EUR dis UEFD.DE 0.05% 394.2K 0.33%
6 iShares MSCI EMU Small Cap UCITS ETF CES1.L 0.05% 550.2K 0.58%
7 Xtrackers MSCI Europe Small Cap UCITS ETF 1C XXSC.L 0.02% 709.3K 0.30%
8 iShares MSCI Europe Small-Cap ETF IEUS 0.02% 34.1K 0.41%
9 Vanguard Germany All Cap UCITS ETF (EUR) Distributing VGER.DE 0.02% 54.7K 0.07%
10 Schwab International Small-Cap Equity ETF SCHC 0.01% 624.6K 0.06%

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
49.4K
Shares Outstanding
6.47M

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
Marc-Julian Siewert Chief Executive Officer & Chairman of the Management Board 481.6K male
Kai Martius Chief Technology Officer & Full Member of the Management Board 376.4K
Torsten Henn Chief Operating Officer & Full Member of the Management Board 373.8K male
Jessica Nospers Chief Financial Officer & Member of the Management Board 289.8K 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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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits