Euronext Athens
Euronext Athens (EXAE) closed at €11.02 on 09/11/2026, -0.90% on the day. Market cap €637.5m, P/E 14.1, dividend yield 1.04%.
EXAE +59.5% (€6.91 → €11.02) · General Index —
Deepest fall inside it: −10.6% (28 Sep → 7 Oct 2026)
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Key statistics
12 months to Jun 2026 unless a figure says otherwise
Profile
At the 9 Nov close- Market value
- Enterprise valueJun 2026est.
- Shares outstandingJun 2026
- Revenue12 months to Jun 2026
- Employees
- Free floatest.
- Traded a day, 3-month average
Valuation
12 months to Jun 2026- P/E
- P/B
- EV/Salesest.
- EV/EBITDAest.
- P/FCF
- Dividend yield
5 years, on reported full years: 7.6–21.9×, median 12.4×. Today 12.6×, higher than 57% of months.
Margins
12 months to Jun 2026- GrossFY2025
- —
- EBITDA
- Operating (EBIT)
- Pre-taxFY2025
- Net
- Free cash flow
its accounts show no gross profit
Net margin = the shareholders' profit ÷ group revenue.
Returns
12 months to Jun 2026- ROE
- ROCE
- ROICest.
- ROAFY2025
- ROE, 5-year averageFY2021–25
- Tax rateFY2025
Financial health
Jun 2026- CashDec 2025
- Net debt
- Net debt ÷ EBITDA
- Interest cover12 months to Jun 2026
- —
not meaningful: finance items were a net income
finance items were a net income
Growth
- Revenue, last yearFY2025
- Revenue, last halfH1 2026
- EPS, last yearFY2025
- EPS, last halfH1 2026
- Revenue, 3 yearsFY2022–25, a year
- Revenue, 5 yearsFY2020–25, a year
- EPS, 3 yearsFY2022–25, a year
- Shares, 3 yearsFY2022–25
Dividends
FY2025- Yield, last 12 months
- Per share
- Payout
- Covered by free cash flow
- Years paid, last fiveFY2021–25
Trading and risk
From our closes, dividends reinvested- Total return, 1 year
- +77.6%
- 3 years, a year
- +36.9%
- 5 years, a year
- +27.9%
- 10 years, a year
- +13.5%
- Volatility, 1 year
- 29.9%
- Beta to the General Index
- 0.27×
- Deepest fall, 1 year / 5 years
- −10.6% / −28.4%
- 52-week range
- €5.79–€11.48
Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.
Financial charts
From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements
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Valuation
no like-for-like peer| Metric | EXAE |
|---|---|
| P/E | 14.1 |
| P/B | 4.3 |
| P/S | 6.3 |
| EV/EBITDA | 8.5 |
| Dividend yield | 1.0% |
| Payout ratio | 20.1% |
| Operating margin | 54.0% |
| Net margin | 44.6% |
| ROE | 30.5% |
| Revenue growth (last full year) | 59.4% |
| Net debt | −€138.9m |
Peers: Stock exchanges
No other company listed in Athens runs this business; related ones can be ticked in.
The company
AI-draftedEuronext Athens Holding, formerly the Athens Stock Exchange, runs Greece's regulated securities and derivatives markets through a wholly owned subsidiary and owns the Greek clearing house and securities depository. It earns fees on trading, clearing and settlement, plus listing, data and technology fees. Euronext N.V. took control in November 2025 and holds 74.22%; the shares stay listed on Euronext Athens.
- The parent of Greece's regulated securities and derivatives market operator, clearing house and central securities depository.13,1
- A business paid mostly per transaction: trading and post-trading fees were 70% of H1 2026 revenue.1
- A company controlled by Euronext N.V. with 74.22%, whose executives hold five of the nine board seats.8,3
- Not a share in Euronext N.V.: EXAE is the Athens company alone, while Euronext N.V. shares trade in Amsterdam, Brussels, Lisbon and Paris.9
- Not delisted: Euronext's offer drew 74.25% of voting rights, below the 90% needed for a squeeze-out, so the share still trades.10,9
- Not the controlling owner of the Hellenic Energy Exchange: it holds 41%, accounted for by the equity method.1
- Sep 2026Following unanimous EGM approval on 22 September, the Market Operator spin-off completed on 30 September with GEMI registration 6218056 and required HCMC approvals; the parent retains 100% of the subsidiary.12,13
- Jul 2026The board launched the demerger and approved the draft agreement; the unit's net assets were valued at €22.95m.5,4
- Apr 2026The company was renamed from Hellenic Exchanges–Athens Stock Exchange to Euronext Athens Holding.7
- Feb 2026Bought a further 20% of the Hellenic Energy Exchange from the EBRD for €7.3m, taking its stake to 41%.1
- Jan 2026A new nine-member board with a majority of Euronext executives, chaired by Camille Beudin.3
- Nov 2025Euronext's share exchange offer closed with 74.25% of voting rights tendered; the shares stayed listed.10,9
- Euronext N.V. has controlled the company since November 2025 and notified a 74.22% holding on 19 March 2026.10,8
- Renamed Euronext Athens Holding from 20 April 2026; the ISIN and the EXAE trading code did not change.7,11
- The 22 September 2026 EGM approved spinning off the market-operator business into a wholly owned subsidiary; the spin-off completed on 30 September with GEMI registration and required approvals.12,13
- The AGM declared €0.11 per issued share for FY2025; eligible holders received €0.1147498703 gross on 30 June 2026 after treasury-share redistribution.6,3
- No bank or bond borrowing; group net cash of €138.9m at 30 June 2026 after leases, excluding clearing members' collateral.1
- 1.Six-Month 2026 Financial ReportEuronext Athens Holding S.A. · 30/07/2026official
- 2.H1 2026 results press releaseEuronext Athens Holding S.A. · 30/07/2026official
- 3.2025 Annual Financial ReportHellenic Exchanges–Athens Stock Exchange S.A. · 31/03/2026official
- 4.Demerger announcementEuronext Athens Holding S.A. · 01/09/2026official
- 5.Approval of the Draft Demerger AgreementEuronext Athens Holding S.A. · 30/07/2026official
- 6.Dividend for fiscal year 2025Euronext Athens Holding S.A. · 11/06/2026official
- 7.Change of company name and trade nameHellenic Exchanges–Athens Stock Exchange S.A. · 17/04/2026official
- 8.Change in voting rights notificationHellenic Exchanges–Athens Stock Exchange S.A. · 20/03/2026official
- 9.Tender offer Information Circular (English)Euronext N.V. · 06/10/2025official
- 10.Tender offer outcome announcementEuronext N.V. · 19/11/2025official
- 11.FIRDS record for GRS395363005ESMA · 15/09/2026official
- 12.Extraordinary General Meeting resolutions and voting resultsEuronext Athens Holding S.A. · 22/09/2026official
- 13.Market Operator demerger completion, corrected repetition (completion 30 September)Euronext Athens Holding S.A. · 01/10/2026official