NYX  Nyse Euronext Inc.

Exchange

NYSE

Sector

Finance

Industry

Investment Bankers/Brokers/Service

Market Cap.

11.005B

Vuru Grade

13.32/100

Current Price

$45.29
0.00 (0.00%)

Growth Price

$0.16
Overvalued by 99.64%

Stability Price

$0.20
Overvalued by 99.55%

Company Metrics

  • P/E 25.54
  • P/S 3.17
  • P/B 1.8
  • EPS 1.773
  • Cash ROIC 1.22%
  • Cash Ratio -
  • Dividend 1.2 / 2.65%
  • Avg. Vol. 1.67M
  • Shares 242.99M
  • Market Cap. 11.005B

Company Description

NYSE Euronext, through its subsidiaries, operates securities exchanges. It operates various stock exchanges, including the New York Stock Exchange (NYSE), NYSE Arca, Inc., and NYSE Amex LLC in the United States; and five European-based exchanges that comprise Euronext N.V. ' the Paris, Amsterdam, Brussels, and Lisbon stock exchanges, as well as the NYSE Liffe derivatives markets in London, Paris, ... more


Download 10 Years of Financial Statements:
Income Statement   Balance Sheet   Cash Flow

News

There is no news available at this time.
Growth Rate Assumed by Market

We did a reverse valuation to calculate the growth rate the market is assuming for NYX to be considered fairly valued at its current market price. It's useful to compare this to the growth rate we're assuming for the Growth Price.

Future Free Cash Flow Growth Rate

This is the annual growth rate we've applied to calculate NYX's Free Cash Flow for the next 10 years. To calculate it, we looked at several time periods of the last 10 years. Feel free to adjust it, but we limit the initial growth rate to 20% and slow it down over the years. Otherwise, long-term sustainability issues come into play.

Discount Rate

The discount rate is the annual rate of return an investor requires to take the risk of investing in a single stock. To account for that risk, this should be above 8-10%, as this is the avg. annual rate of return for the S&P500 over the past 100 years.

$45.29 Current Price

$0.16 Growth Price (DCF)

Overvalued by 99.64%


Growth Rate Assumed by Market: 500.00%


Future Free Cash Flow Growth Rate: -2.0%


Discount Rate: 15.0%


NYX's most recent year of (normalized) free cash flow is negative. This is the base number for forward projections. This means that if you increase the growth rate, the amount of negative FCF grows, thereby decreasing the price.

Show Free Cash Flow numbers

$0.20 Stability Price (EPV)

Overvalued by 99.55%


Discount Rate: 15.0%

$- NCA Price

Overvalued by 100.00%


Poor Cash Return on Invested Capital over the past 5 years

NYX has been unable to consistently generate sufficient returns from its investments in buildings, projects and equipment. This could be due to poor management, lack of an economic moat or the capital intensive nature of the business.

NYX has only created $1.22 of cash for every $100 invested.
Figures in USD. Fiscal year ends in December
20112012201320142015
Free Cash Flow 830.00M 444.00M 2.00M 154,404.00 -15.97M
divided by
Invested Capital 13.07B 12.56B 26.16M 37.41M 134.69M
Cash ROIC 6.35% 3.54% 7.65% 0.41% -11.86%

Poor Return on Equity over the past 5 years

NYX has shown an inability to deliver strong results for shareholders. This could be due to poor management, NYX operating in a highly competitive industry, or having a weak business in general.

NYX has only generated $2.98 of Earnings for every $100 of Shareholders' Equity.
Figures in USD. Fiscal year ends in December
20112012201320142015
Net Income 619.00M 348.00M - - -
divided by
Stockholders' Equity 6.58B 6.35B 26.16M 37.41M 134.69M
Return on Equity 9.41% 5.48% - - -

Good Business Performance over the past 10 years

It's likely NYX has been unable to maintain profitability in tough economic times, making it a somewhat cyclical business. The other possibility is NYX has expended significant capital on items such as property, plant and equipment in specific years. Look for correlations.

NYX has created positive free cash flow for 7 or 8 of the past 10 years.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Free Cash Flow 120.19M 523.00M 377.00M -28.00M 282.00M 830.00M 444.00M 2.00M 154,404.00 -15.97M

Very Weak Balance Sheet

NYX is in a poor financial position. This could be due to a slowdown in sales, indulging in debt-fuelled growth, or the nature of NYX's business. If it is highly capital intensive (see Economic Moat), they likely have to outlay significant capital just to stay competitive. This habit often destroys more value than it creates.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Cash - - - - - - - - - -
Current Assets - - - - - - - - - -
Total Assets 3.47B 16.62B 13.95B 14.38B 13.38B 13.07B 12.56B - - -
Current Liabilities - - - - - - - - - -
Total Liabilities 1.80B 7.23B 7.39B 7.51B 6.58B 6.49B 6.21B - - -
Stockholder' Equity 1.67B 9.38B 6.56B 6.87B 6.80B 6.58B 6.35B 26.16M 37.41M 134.69M
Current Ratio - - - - - - - - - -
TL-to-TA 0.52 0.44 0.53 0.52 0.49 0.50 0.49 - - -

Consistent Reinvestment of Profits over the past 10 years

NYX has consistently retained profits. This may put NYX in a strong position to invest for the future, by buying new machinery, investing in R&D or a number of other options. By effectively using these earnings, NYX can greatly improve their long-term economic picture.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Retained Earnings 182.94M 637.00M -331.00M -112.00M 212.00M 518.00M 569.00M -22.90M -29.90M -38.31M
Retained Earnings Growth - 248.20% -151.96% 66.16% 289.29% 144.34% 9.85% -104.02% -30.60% -28.10%

Highly Competitive Industry over the past 10 years

It's likely that NYX is in an industry with low barriers to entry, spurring high competition. If Gross Margins are at least satisfactory, it's likely NYX invests heavily in R&D and Sales, General & Administrative expenses.

Only $4.90 of every $100 of Revenue have been profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Net Income 204.98M 643.00M -738.00M 219.00M 577.00M 619.00M 348.00M - - -
divided by
Revenue 2.38B 4.16B 4.70B 4.69B 4.43B 4.55B 3.75B 18.70M 27.28M 52.31M
Net Profit Margin 8.63% 15.46% -15.69% 4.67% 13.04% 13.60% 9.28% - - -

Weak Pricing Power over the past 10 years

NYX is likely in a highly competitive industry, due to low barriers to entry. It's because of this, that NYX has been unable to raise prices and increase their profitability. This puts them in a poor position if inflation becomes an issue, as they would struggle to pass higher costs onto consumers.

Only $- of every $100 worth of sales have been Gross Profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Gross Profit - - - - - - - - - -
divided by
Revenue 2.38B 4.16B 4.70B 4.69B 4.43B 4.55B 3.75B 18.70M 27.28M 52.31M
Gross Margin - - - - - - - - - -

High Capital Intensity over the past 10 years

NYX spends large amounts of capital buying new equipment or investing in new facilities to stay competitive. Over the long term, those costs may have to be fuelled by debt. Look at the growth of Shareholders' Equity to see if this strategy is having a positive or negative impact.

73.03% of Profits are being spent on Capital Expenditures, like Property, Plant, & Equipment, required to run the business.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Capital Expenditure 97.78M 182.00M 376.00M 497.00M 305.00M 170.00M 191.00M 149,370.00 249,287.00 1.01M
divided by
Net Income 204.98M 643.00M -738.00M 219.00M 577.00M 619.00M 348.00M - - -
Capital Expenditure Ratio 47.70% 28.30% -50.95% 226.94% 52.86% 27.46% 54.89% - - -

Inconsistent Dividend History over the past 10 years

NYX has started distributing dividends in the past couple years or has recently suspended their dividend distribution. The reliability of future distributions is unclear.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Dividend Paid 506.20M 199.00M 305.00M 312.00M 313.00M 313.00M 297.00M - - -
divided by
Shares Outstanding 150.72M 238.00M 265.00M 261.00M 262.00M 263.00M 250.00M 29.92M 36.16M -
Dividend Paid Per Share 3.36 0.84 1.15 1.20 1.19 1.19 1.19 - - -
Price at Year End 82.00 73.56 22.75 23.59 28.73 26.10 31.63 45.29 45.29 45.29
Dividend Yield 4.10% 1.14% 5.06% 5.07% 4.16% 4.56% 3.76% - - -

History of Stock Buybacks over the past 10 years

NYX has some history of delivering increased value for shareholders in the form of stock buybacks. These have helped improve financial metrics and increase each shareholders' relative ownership stake in the company, due to fewer shares outstanding and holding the same number of shares.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Shares Outstanding 150.72M 238.00M 265.00M 261.00M 262.00M 263.00M 250.00M 29.92M 36.16M -
Stock Bought Back - -36.67% -10.19% 1.53% -0.38% -0.38% 5.20% 735.46% -17.25% -
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