Bursa de Valori Bucuresti SA

BVB

Bursa de Valori Bucuresti SA engages in the administration of the financial markets in Romania.The company operates through Capital Markets, Post-Trade Services, Registry Services, and CCP.RO Services...

Website | Security and Commodity Brokers, Dealers, Exchanges, and Services | Other

Automated Financial Analysis

🤵

Financial Advisor Insight

"Current valuation levels are elevated, suggesting the price may be ahead of fundamentals. Technicals confirm a positive long-term trend, supported by moving averages. Growth forecasts are robust, which could drive future appreciation."

Sentiment: Neutral Action: Hold

"Company demonstrates strong financial health with positive growth and stability indicators."

Strong Revenue Growth (16.8% CAGR).
Overvalued based on PE (Current: 28.3 vs Fair: 15).
Bullish Trend (SMA50 > SMA200).
Overbought (RSI: 72.3).
Forecast: Continued Revenue Growth (~19.7% next year).

Technical Analysis

Trend Bullish (Long Term)
Last Cross
Golden Cross (5 months ago)
RSI (14) 72.3
SMA 50 41.84
SMA 200 40.07

Price Valuation

Current Price 44.70
Fair Value (PE 15) 23.69
Overvalued 47%
Graham Number 22.45
Downside 50%

Forecast

Rev Forecast (Next Yr) 94M
Growth Forecast 19.7%

📊 Market & Peer Context

Benchmark: BET
Volatility (Beta)
0.1
Less Volatile than Market
Correlation
0.07
Moves with Market
Relative Strength (1Y)
-50.01%
vs Benchmark
Index Returns (1Y)
71.3%
BET

Historical Performance

Metric 5Y 3Y 1Y YTD 6M 3M 1M 1W
BVB 93.6% 5.3% 11.8% 9.3% 15.2% -3.0% 0.0% 0.0%
BET - 135.3% 71.3% 19.7% 33.0% 8.7% 4.3% 2.7%
Alpha (Diff) - -130.0% -59.5% -10.4% -17.8% -11.7% -4.3% -2.7%

Financial Reports

Price Chart

Sector: Other

Based on Market Cap
LEADER
SCD
Zentiva S.A.
3,151M
ONE
One United Properties SA
2,964M
EVER
Evergent Investments SA
2,701M
CRC
Chimcomplex S.A.
2,531M
LION
Lion Capital S.A.
2,412M
FP
Fondul Proprietatea SA
2,339M
AQ
Aquila Part Prod Com S.A.
2,062M
INFINITY
Infinity Capital Investments S.A.
1,981M
SFG
Sphera Franchise Group S.A.
1,539M
ARS
Aerostar S.A.
1,462M
SOCP
SOCEP S.A.
1,187M
GREEN
Green Tech International S.A.
1,111M
ALR
Alro S.A.
1,071M
WINE
Purcari Wineries Public Company Limited
789M
AROBS
AROBS Transilvania Software S.A.
706M
COTE
Conpet S.A.
677M
CMVX
Comvex S.A.
662M
TTS
TTS (Transport Trade Services) S.A.
589M
IMP
Impact Developer & Contractor S.A.
567M
DN
Dn Agrar Group S.A.
463M
SMTL
Simtel Team S.A.
459M
BVB
Bursa de Valori Bucuresti SA
371M
OIL
Oil Terminal S.A.
342M
SIDG
S.C. ArcelorMittal Hunedoara S.A.
342M
IARV
IAR S.A.
319M
GSH
GRUP SERBAN HOLDING SA
312M
SCDM
S.C. Unirea Shopping Center S.A.
258M
RCHI
Societatea Comerciala Compania Hoteliera Intercontinental Romania S.A.
238M
FOSB
SC Foraj Sonde SA Craiova
237M
PPLI
Professional Imo Partners S.A.
232M

ETAPA 1 • MUST HAVE

4/8
Healthy Leverage (Debt/Equity)
0.12
Target: < 1.5
Gross Margin vs Industry
0.0% vs 0.0%
Target: > 0.0%
Operating Cash Flow vs Profit
0%
Target: > 1.0
Free Cash Flow vs Profit
-40%
Target: > 0.8
ROIC (Return on Capital)
3.15%
Target: Positive
ROIC vs WACC
ROIC: 3.2% / WACC: 2,222,316.4%
Target: > WACC
ROE (Return on Equity)
6.5%
Target: > 10%
EBITDA Positive
15.01M
Target: > 0

ETAPA 2 • CRITERII

5/9
Interest Coverage
Target: > 3x • 0.0x
Miss
Net Margin vs Industry
Target: > 0.0% • 16.7%
Passed
ROA vs Industry
Target: > 3.6% • 2.6%
Miss
Current Ratio
Target: > 1.5 • 3,065.14
Passed
Assets Growth (5y)
Target: > 0% • 3.3% CAGR
Passed
FCF CAGR (5y)
Target: > 5% • 0.0%
Miss
EV/EBITDA vs Industry
Target: < Industry • 0.0 vs 0.0
Miss
Net Debt / EBITDA
Target: < 3 • 1.41
Passed
Revenue CAGR (5y)
Target: > 5% • 16.8%
Passed

SNAPSHOT COMPANIE

Capitalizare
0.37B RON
EBITDA
15.01M
P/E Ratio
28.30
PEG Ratio
1.69
Dividend Yield
0.00%
Beta
0.10
Valoare Intrinsecă (Graham)
22.45 RON
Discount
-49.8%

Balance Sheet

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Cash & Equivalents 12,506,651 23,329,180 15,636,686 33,309,069 32,746,712
Short-Term Investments 90,494,467 68,184,189 87,810,400 54,300,105 53,797,253
Totalcash 103,001,118 91,513,369 103,447,086 87,609,174 86,543,965
Cash Growth 13.39% -11.54% 18.08% 1.23% 4.03%
Accounts Receivable 8,531,523 9,039,305 12,017,132 8,773,563 6,471,462
Other Receivables - - - 1,007,757 805,943
Receivables 8,531,523 9,039,305 12,017,132 9,781,320 7,277,405
Prepaid Expenses 1,279,270 1,369,157 1,285,850 870,502 847,220
Other Current Assets 27,507,066 22,786,394 22,009,186 22,213,399 24,131,590
Assetsc 140,318,977 124,708,225 138,759,254 120,474,395 118,800,180
Property, Plant & Equipment 45,733,503 47,574,620 36,112,765 13,499,677 14,072,416
Long-Term Investments 49,259,357 57,549,076 53,452,064 57,501,111 51,663,280
Goodwill - - - - -
Other Intangible Assets 11,443,887 8,601,877 6,731,246 4,559,157 3,684,671
Other Long-Term Assets - - - - -
Assets 251,662,047 241,072,461 238,138,502 198,011,196 189,563,932
Accounts Payable 30,483,355 3,656,696 5,453,479 6,576,740 6,377,748
Accrued Expenses - 4,801,978 4,296,803 4,228,139 2,216,063
Current Portion of Leases 2,051,959 2,426,059 2,425,407 2,057,984 2,084,773
Current Income Taxes Payable 1,682,993 1,014 1,252,336 315,203 552,480
Current Unearned Revenue 2,549,888 2,596,620 2,202,226 1,927,530 1,682,427
Other Current Liabilities 9,622,154 -13,441,681 26,175,422 25,574,231 26,647,334
Total Current Liabilities 46,390,349 40,686 41,805,673 40,679,827 39,560,825
Long-Term Leases 17,749,285 18,696,502 18,490,693 3,103,995 4,677,633
Other Long-Term Liabilities 181,400 40,825,815 - - -
Total Liabilities 64,321,034 59,563,003 60,296,366 43,783,822 44,238,458
Common Stock 88,541,700 88,541,700 80,492,460 80,492,460 80,492,460
Additional Paid-In Capital 6,297,386 6,297,386 6,297,386 6,297,386 6,297,386
Retained Earnings 34,843,300 25,073,824 33,668,885 19,212,303 15,873,928
Comprehensive Income & Other 7,661,411 7,614,805 8,531,999 3,385,355 3,495,451
Total Common Equity 134,656,619 124,840,537 128,727,851 109,311,976 106,159,225
Equity 187,341,013 181,509,458 177,842,136 154,227,374 145,325,474
Total Liabilities & Equity 251,662,047 241,072,461 238,138,502 198,011,196 189,563,932
Filing Date Shares Outstanding 8,803,950 8,803,950 8,843,342 8,809,710 8,839,371
Total Common Shares Outstanding 8,803,950 8,803,950 8,843,342 8,809,710 8,839,371
Book Value Per Share 15.30 14.18 14.56 12.41 12.01
Tangible Book Value 123,212,732 116,238,660 121,996,605 104,752,819 102,474,554
Tangible Book Value Per Share 14.00 13.20 13.80 11.89 11.59
Total Debt 19,801,244 21,122,561 20,916,100 5,161,979 6,762,406
Net Cash (Debt) 83,199,874 70,390,808 82,530,986 82,447,195 79,781,559
Net Cash Growth 20.19% -14.71% 0.10% 3.34% 0.27%
Netcashpershare 10.07 8.48 9.32 9.31 9.01
Working Capital 93,928,628 124,667,539 96,953,581 79,794,568 79,239,355
Treasury Stock -2,687,178 -2,687,178 -262,879 -75,528 -
Land - 6,601,294 6,601,294 5,282,513 5,262,826
Buildings - 7,299,825 1,363,487 - -
Machinery - 25,996,439 19,120,829 19,618,123 17,063,623
Construction In Progress - 1,757,618 4,786,854 - 365,509
Minority Interest 52,684,394 56,668,921 49,114,285 44,915,398 39,166,249
Long-Term Deferred Tax Assets 4,906,323 2,638,663 3,083,173 1,976,856 1,343,385

Cash Flow Statement

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Net Income 10,534,161 13,102,255 24,692,890 10,627,397 6,463,671
Depreciation & Amortization 11,766,511 8,043,732 7,458,543 5,461,144 4,992,272
Loss (Gain) From Sale of Investments 127,559 127,559 159,847 106,325 -
Asset Writedown & Restructuring Costs 158,565 -44,636 361,693 603,813 -
Stock-Based Compensation 1,546,650 2,145,116 2,150,853 914,303 436,647
Provision & Write-off of Bad Debts 640,295 557,190 -686,972 177,895 -289,687
Change in Accounts Receivable -9,913,291 -2,483,758 -1,297,317 -2,140,129 4,894,085
Change in Accounts Payable -5,679,017 1,717,763 -527,137 1,779,666 -3,089,305
Change in Unearned Revenue -94,305 249,817 226,140 247,004 80,029
Change in Other Net Operating Assets 6,971,627 -529,642 -205,652 150,517 -237,591
Other Operating Activities -11,778,813 -9,723,234 -5,441,796 -4,991,957 -4,017,389
Ncfo 4,279,942 13,162,162 26,891,092 12,935,978 9,204,799
Ocf Growth -83.52% -51.05% 107.88% 40.54% -22.70%
Capex -17,021,314 -18,407,945 -12,387,893 -4,803,542 -2,169,782
Cash Acquisitions - - - - -
Investment in Securities -12,414,954 16,840,199 -28,479,751 -7,069,303 25,074,895
Other Investing Activities 6,627,361 7,316,366 5,754,302 4,237,988 4,763,089
Ncfi -22,811,527 5,748,620 -35,113,342 -7,634,857 27,683,128
Long-Term Debt Repaid - -1,285,989 -1,427,619 -2,189,020 -1,921,707
Net Debt Issued (Repaid) -1,378,022 -1,285,989 -1,427,619 -2,189,020 -1,921,707
Repurchase of Common Stock -58,953 -5,337,567 - -1,074,170 -
Common Dividends Paid -148,047 -12,320,670 -10,240,052 -7,788,352 -8,534,715
Other Financing Activities 5,830,289 7,725,940 2,217,537 6,312,779 -258,101
Financing Cash Flow 4,245,267 -11,218,286 -9,450,134 -4,738,763 -10,714,523
Net Cash Flow -14,286,319 7,692,496 -17,672,383 562,357 26,173,404
Free Cash Flow -12,741,372 -5,245,783 14,503,199 8,132,436 7,035,017
Free Cash Flow Growth - - 78.34% 15.60% -13.28%
Fcf Margin -15.62% -6.68% 17.52% 14.38% 15.24%
Fcfps -1.54 -0.63 1.64 0.92 0.80
Levered Free Cash Flow -10,306,940 -42,301,535 9,772,740 7,780,920 -2,826,941
Unlevered Free Cash Flow -9,633,578 -41,545,763 10,420,227 7,978,588 -2,611,578
Cash Interest Paid 941,109 1,079,780 1,030,558 - -
Cash Income Tax Paid 3,451,372 4,187,390 4,421,186 2,745,718 1,445,699
Divestitures - - - - 14,926
Change Working Capital -8,714,986 -1,045,820 -1,803,966 37,058 1,647,218
Sale of Property, Plant & Equipment -2,620 - - - -
Miscellaneous Cash Flow Adjustments -1 - 1 -1 -

Income Statement

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Revenue 81,566,616 78,579,771 82,786,133 56,544,340 46,170,478
Revenue Growth 1.65% -5.08% 46.41% 22.47% 9.32%
Operating Revenue 79,730,957 76,470,308 81,558,039 55,374,485 45,729,969
Other Revenue 1,835,659 2,109,463 1,228,094 1,169,855 440,509
Cost of Revenue 15,159,695 10,846,610 6,049,303 6,179,756 8,095,224
Gp 66,406,921 67,733,161 76,736,830 50,364,584 38,075,254
Selling, General & Admin 39,844,222 37,563,010 34,113,777 27,419,259 23,303,952
Other Operating Expenses 22,395,440 20,055,494 18,803,457 13,553,488 11,567,565
Operating Expenses 62,239,662 57,618,504 52,917,234 40,972,747 34,871,517
Operating Income 4,167,259 10,114,657 23,819,596 9,391,837 3,203,737
Interest Expense -1,077,379 -1,209,235 -1,035,979 -316,269 -344,580
Interest & Investment Income 6,173,166 6,843,873 6,456,186 3,581,372 2,543,354
Currency Exchange Gain (Loss) 700,834 220,994 237,280 436,013 1,461,851
Other Non Operating Income (Expenses) -448,139 -356,757 807,957 -76,853 27,936
EBT Excluding Unusual Items 9,515,741 15,613,532 30,285,040 13,016,100 6,892,298
Impairment of Goodwill - - - - -
Gain (Loss) on Sale of Assets -224,745 -224,745 -159,847 - -
Gain (Loss) on Sale of Investments - - - -106,325 -
Other Unusual Items - - - - -
Pretax Income 9,450,792 15,482,787 29,950,223 12,305,962 6,349,779
Income Tax Expense 1,813,768 3,723,939 4,252,003 1,874,970 1,057,655
Net Income to Company 7,637,024 11,758,848 25,698,220 10,430,992 5,292,124
Minority Interest in Earnings 2,897,137 1,343,407 -1,005,330 196,405 1,171,547
Net Income 10,534,161 13,102,255 24,692,890 10,627,397 6,463,671
Net Income to Common 10,534,161 13,102,255 24,692,890 10,627,397 6,463,671
Net Income Growth -29.46% -46.94% 132.35% 64.42% -8.80%
Shares Basic 8,258,863 8,296,629 8,854,171 8,854,171 8,854,171
Shares Outstanding (Diluted) 8,258,863 8,296,629 8,854,171 8,854,171 8,854,171
Shares Yo Y -0.07 -0.06 - - -
Eps Basic 1.28 1.58 2.79 1.20 0.73
EPS (Diluted) 1.28 1.58 2.79 1.20 0.73
EPS Growth -24.49% -43.37% 132.35% 64.42% -8.80%
Free Cash Flow -12,741,372 -5,245,783 14,503,199 8,132,436 7,035,017
Free Cash Flow Per Share -1.54 -0.63 1.64 0.92 0.80
Dps - - 1.41 1.17 0.87
Dividend Growth - - 20.37% 34.68% -10.12%
Gross Margin 81.41% 86.20% 92.69% 89.07% 82.47%
Operating Margin 5.11% 12.87% 28.77% 16.61% 6.94%
Profit Margin 12.92% 16.67% 29.83% 18.80% 14.00%
Free Cash Flow Margin -15.62% -6.68% 17.52% 14.38% 15.24%
Effective Tax Rate 0.19 0.24 0.14 0.15 0.17
EBITDA 13,307,663 15,013,313 27,603,185 12,677,601 6,107,566
D&A For EBITDA 9,140,404 4,898,656 3,783,589 3,285,764 2,903,829
EBITDA Margin 16.31% 19.11% 33.34% 22.42% 13.23%
EBIT 4,167,259 10,114,657 23,819,596 9,391,837 3,203,737
EBIT Margin 5.11% 12.87% 28.77% 16.61% 6.94%
Revenue as Reported 81,566,616 78,579,771 82,786,133 56,544,340 46,170,478
Legal Settlements 159,796 94,000 -174,970 -603,813 -542,519
Earnings From Continuing Operations 7,637,024 11,758,848 25,698,220 10,430,992 5,292,124
Earnings From Discontinued Operations - - - - -
Payoutratio 1.41% 94.04% 41.47% 73.29% 132.04%

Ratios and Metrics

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Marketcap 366,244,320 360,424,502 527,385,290 282,711,891 204,869,687
Market Cap Growth -6.71% -31.66% 86.55% 38.00% 10.94%
Enterprise Value 335,728,840 339,725,971 482,108,290 241,430,460 180,850,817
Last Close Ratios 4,160.00% 4,090.00% 5,818.28% 3,047.48% 2,125.48%
Pe 32.61 27.51 21.36 26.60 31.70
Forward PE 29.61 21.82 21.82 21.82 21.82
PS Ratio 4.49 4.59 6.37 5 4.44
PB Ratio 1.95 1.99 2.97 1.83 1.41
P/TBV Ratio 2.97 3.10 4.32 2.70 2.00
P/FCF Ratio - - 36.36 34.76 29.12
P/OCF Ratio 85.57 27.38 19.61 21.86 22.26
PEG Ratio - 67.60% 67.60% 67.60% 67.60%
EV/Sales Ratio 4.12 4.32 5.82 4.27 3.92
EV/EBITDA Ratio 21.07 22.63 17.47 19.04 29.61
EV/EBIT Ratio 80.56 33.59 20.24 25.71 56.45
EV/FCF Ratio -26.35 - 33.24 29.69 25.71
Debt / Equity Ratio 0.11 0.12 0.12 0.03 0.05
Debt / EBITDA Ratio 1.24 1.16 0.67 0.35 0.83
Debt / FCF Ratio - - 1.44 0.64 0.96
Asset Turnover 33.20% 32.80% 38.00% 29.20% 23.00%
Quick Ratio 2.40 2,471 2.76 2.39 2.37
Current Ratio 3.03 3,065 3.32 2.96 3.00
Roe 4.24% 6.54% 15.48% 6.96% 3.60%
Return on Assets (ROA) 1.06% 2.64% 6.83% 3.03% 1.00%
Return on Capital (ROIC) 1.30% 3.15% 8.31% 3.77% 1.32%
Return on Capital Employed (ROCE) 0.02 0.04 0.12 0.06 0.02
Earningsyield 2.88% 3.64% 4.68% 3.76% 3.16%
FCF Yield -3.48% -1.46% 2.75% 2.88% 3.43%
Dividend Yield - - 2.43% 3.85% 4.10%
Payout Ratio 1.41% 94.04% 41.47% 73.29% 132.04%
Buyback Yield / Dilution 6.59% 6.30% - - -
Totalreturn 6.59% 6.30% 2.43% 3.85% 4.10%

Price History

Oct 11, 2018 — Jan 26, 2026 1825 Records
Date Open High Low Close Volume
2026-01-26 44.10 45.30 43.90 44.70 7,357
2026-01-25 45.90 45.90 45.00 45.30 1,860
2026-01-24 45.50 46.30 44.80 45.30 2,747
2026-01-22 45.50 46.30 44.80 45.30 2,747
2026-01-21 46.40 46.50 45.20 45.20 2,563
2026-01-20 45.60 45.60 44.40 45.50 5,994
2026-01-19 45.60 46.40 45.60 46.10 4,354
2026-01-18 46.40 46.50 45.20 45.60 7,833
2026-01-15 44.50 47.40 44.40 46.40 20,206
2026-01-14 42.80 44.50 42.50 44.40 9,162
2026-01-13 41.80 42.40 41.40 42.40 3,478
2026-01-12 41.10 41.80 41.00 41.30 8,590
2026-01-11 41.10 41.80 41.00 41.30 8,590
2026-01-09 40.30 41.00 40.30 41.00 2,735
2026-01-08 40.30 41.00 40.30 41.00 2,735
2026-01-07 40.40 40.70 40.20 40.20 2,157
2026-01-06 40.90 41.00 40.20 40.40 6,866
2026-01-05 40.90 41.00 40.20 40.40 6,866
2026-01-04 40.90 41.00 40.20 40.40 6,866
2026-01-01 40.50 40.90 40.50 40.90 1,060
2025-12-31 40.50 40.90 40.50 40.90 1,060
2025-12-30 40.50 40.90 40.50 40.90 1,060
2025-12-29 40.50 40.90 40.50 40.90 1,060
2025-12-28 41.00 41.00 40.60 40.90 1,592
2025-12-25 41.00 41.10 40.80 41.00 1,025
2025-12-24 41.00 41.10 40.80 41.00 1,025
2025-12-23 41.00 41.10 40.80 41.00 1,025
2025-12-22 41.00 41.10 40.80 41.00 1,025
2025-12-21 40.90 41.00 40.50 41.00 1,815
2025-12-19 40.20 41.10 40.20 40.90 757
2025-12-18 40.20 41.10 40.20 40.90 757
2025-12-17 41.00 41.10 40.20 40.50 6,148
2025-12-16 41.00 41.10 40.30 40.30 5,314
2025-12-15 41.00 41.00 40.20 40.50 4,705
2025-12-14 41.40 41.40 41.00 41.00 4,006
2025-12-12 41.20 41.20 40.40 40.80 5,867
2025-12-11 41.20 41.20 40.40 40.80 5,867
2025-12-10 41.30 41.50 41.00 41.50 631
2025-12-09 41.70 41.70 41.20 41.30 176
2025-12-08 42.00 42.00 40.60 41.50 482
2025-12-07 41.50 41.50 40.70 40.70 2,081
2025-12-05 41.30 41.60 41.00 41.60 515
2025-12-04 41.30 41.60 41.00 41.60 515
2025-12-03 41.00 41.00 40.80 40.90 1,331
2025-12-02 40.60 41.00 40.50 40.70 3,675
2025-12-01 41.00 41.00 40.40 40.60 3,262
2025-11-30 41.50 41.70 40.70 41.00 12,580
2025-11-28 41.50 41.70 40.70 41.00 12,580
2025-11-27 41.50 41.70 40.70 41.00 12,580
2025-11-26 41.20 41.70 41.20 41.40 3,646