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1. Company Snapshot

1.a. Company Description

Hypoport SE operates as a technology-based financial service provider in Germany.The company operates through four segments: Credit Platform, Private Clients, Real Estate Platform, and Insurance Platform.It offers EUROPACE marketplace for independent distributors to process their financing transactions with the product suppliers they represent.


The company also provides mortgage finance, personal loans, insurance, and current and deposit accounts through distribution channels, including online and branch-based sales.In addition, it offers advice and customized solutions in the areas of financial management, portfolio management, and insurance for business customers; PRoMMiSe, a software that helps banks with the analysis and reporting of securitized or collateralized loan portfolios; Software as a Service for banks and housing companies; and property valuation services, as well as supports issuers with the provision of information technology and a range of services.Further, it develops and operates software solutions for the sale and management of insurance products; operates SMART INSUR, a web-based B2B platform for advice, comparison of tariffs, and the administration of insurance policies; and provides support services to small and medium-sized financial product distributors in relation to the brokerage of insurance policies.


The company was founded in 1954 and is headquartered in Lübeck, Germany.

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1.b. Last Insights on HYQ

Hypoport SE's recent performance was driven by strong revenue growth, exceeding forecasts by 25% in Q1 2025. The company's robust performance was highlighted by significant gains in market share and strategic growth, despite facing sector-specific hurdles. Key financial results included revenue of €159.2m, up 48% from Q1 2024, and EPS of €0.82, a notable increase from €0.45 in Q1 2024. The company's mortgage and ERP platforms reported robust growth, contributing to its overall strong performance.

1.c. Company Highlights

2. Hypoport SE: A Resilient Performance Amidst a Challenging Market

Hypoport SE reported a robust financial performance for Q1 to Q3 2025, with revenues growing significantly. The company's EPS came in at €0.771, beating analyst estimates of €0.61. The revenue growth was driven by the company's diverse business segments, including real estate and mortgage platforms, financing platforms, and insurance platforms. Analysts estimate next year's revenue growth at 8.7%, indicating a continued upward trajectory.

Publication Date: Dec -02

📋 Highlights
  • Europace Market Position: Maintained market share despite Deutsche Bank's reduced mortgage volume, aided by cooperative banks and mortgage brokers using Europace for comparisons.
  • Project Finanz Informatik: Integration with property values and loans in Sparkassen mobile apps aims to boost savings banks' competitiveness and drive Hypoport growth.
  • Value AG Profitability: Expected to turn profitable in 2026, contributing double-digit growth to Hypoport's revenue in the medium term.
  • Europace One Expansion: 3-digit-number of advisers signed up, projected to generate 7-digit-number in revenue/profit in upcoming years.
  • BAUFINEX Success: Surpassed Starpool as Germany's largest mortgage pooling offering, driven by digitalization of cooperative banks' external relations.

Segmental Performance

The real estate and mortgage platforms segment, which includes Europace, continued to perform well. According to CEO Ronald Slabke, Europace has not lost market share despite Deutsche Bank's reduced mortgage exposure and volume. Instead, cooperative banks and savings banks are taking market share, partly due to their rollout of Europace and features provided by Hypoport. The financing platform segment is also expected to perform above last year's levels, driven by progress in signing up housing associations to their ERP system.

Valuation and Pricing

Hypoport SE's valuation metrics indicate a premium pricing. The company's P/E Ratio stands at 50.8, while the P/S Ratio is at 1.36. The EV/EBITDA ratio is 15.06, indicating a relatively high valuation. For a financial sector company like Hypoport SE, the Price-to-Book Ratio (P/B) is a relevant metric, which stands at 2.4. These metrics suggest that the market is pricing in significant growth expectations, which is consistent with the company's diversified business segments and growth initiatives.

Growth Initiatives

The company's growth initiatives, such as Europace One and Europace OneClick, are expected to contribute to revenue and profit growth in the upcoming years. Europace One has already seen a 3-digit number of advisers sign up, and is expected to contribute a 7-digit number to revenue and profit. The insurance platforms segment, including SMART INSUR and Corify, is also expected to drive growth, with a strong pipeline of brokers and insurance companies.

Operational Efficiency

The company's focus on efficiency gains within each segment is expected to drive profitability. The application of AI is expected to bring efficiency gains in repetitive processes, particularly in centers like HR or accounting. CEO Ronald Slabke noted that the company does not expect to reduce costs for software development but rather increase output in volume and quality.

3. NewsRoom

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How Recent Forecast Cuts Are Shaping the Story Behind Hypoport's Valuation

Nov -29

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European Growth Companies With High Insider Ownership November 2025

Nov -06

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European Growth Stocks With Insider Ownership Up To 33%

Oct -08

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Hypoport AG (WBO:HYQ) H1 2025 Earnings Call Highlights: Strong Growth Amidst Recessionary Challenges

Aug -12

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European Growth Stocks With High Insider Ownership

Aug -07

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Retail investors among Hypoport SE's (ETR:HYQ) largest stockholders and were hit after last week's 6.8% price drop

Aug -04

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European Growth Stocks Insiders Are Investing In

Jun -24

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3 European Growth Companies With High Insider Ownership Growing Earnings At 43%

May -19

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.73%)

6. Segments

Credit Platform

Expected Growth: 12%

The 12% growth of Credit Platform from Hypoport SE is driven by increasing demand for digital loan processing, expansion into new markets, and strategic partnerships. Additionally, the platform's scalability, user-friendly interface, and real-time risk assessment capabilities have contributed to its growth. Furthermore, the rise of fintech and digital banking has created a favorable market environment for the platform's growth.

Clients Platform

Expected Growth: 13%

Hypoport SE's Clients Platform growth of 13% is driven by increasing demand for digital mortgage broking, expansion into new markets, strategic partnerships, and investments in technology and data analytics, enabling efficient lead generation, and enhanced customer experience.

Insurance Platform

Expected Growth: 11%

Hypoport SE's Insurance Platform growth is driven by increasing demand for digital insurance solutions, expansion into new markets, strategic partnerships, and investments in technology and data analytics. Additionally, the platform's scalability, user-friendly interface, and competitive pricing contribute to its 11% growth.

Real Estate Platform

Expected Growth: 10%

Hypoport SE's Real Estate Platform growth is driven by increasing demand for digital property transactions, strategic partnerships with banks and insurance companies, expansion into new European markets, and investments in AI-powered valuation models and data analytics, resulting in a 10% growth rate.

Holding

Expected Growth: 9%

Hypoport SE's 9% growth is driven by increasing demand for digital mortgage brokerage, expansion into new markets, and strategic acquisitions. The company's scalable business model, strong brand recognition, and growing market share in the German mortgage market also contribute to its growth. Additionally, Hypoport's investments in technology and data analytics enable it to improve operational efficiency and provide better customer experiences.

7. Detailed Products

EUROHYPO

A platform for mortgage lending, providing a comprehensive range of mortgage products and services to banks, savings banks, and other financial institutions.

Dr. Klein & Co. AG

A leading provider of financial services, offering a range of products including mortgage loans, building loans, and construction financing.

Hypoport GmbH

A technology-driven platform for financial services, providing a range of products including mortgage loans, insurance, and investment products.

Qualitypool

A platform for quality-controlled mortgage lending, providing a standardized and efficient process for mortgage origination and processing.

Vergleich.de

A leading online platform for comparing and purchasing financial products, including insurance, loans, and investments.

FondsDISCOUNT.de

A platform for online investment and fund management, providing access to a wide range of investment products.

8. Hypoport SE's Porter Forces

Forces Ranking

Threat Of Substitutes

Hypoport SE operates in a highly competitive market, and there are many substitutes available for its financial services. However, the company's strong brand reputation and customer loyalty help to mitigate the threat of substitutes.

Bargaining Power Of Customers

Hypoport SE's customers have a high bargaining power due to the availability of alternative financial services providers. The company needs to focus on customer retention and satisfaction to maintain its market share.

Bargaining Power Of Suppliers

Hypoport SE has a diversified supplier base, which reduces the bargaining power of individual suppliers. The company's strong financial position also gives it negotiating power over its suppliers.

Threat Of New Entrants

The financial services industry has high barriers to entry, which reduces the threat of new entrants. However, the rise of fintech companies and digital platforms has increased the threat of new entrants in the market.

Intensity Of Rivalry

The financial services industry is highly competitive, and Hypoport SE faces intense rivalry from established players and new entrants. The company needs to focus on innovation and differentiation to maintain its market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 35.16%
Debt Cost 3.95%
Equity Weight 64.84%
Equity Cost 13.04%
WACC 9.84%
Leverage 54.21%

11. Quality Control: Hypoport SE passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Resurs Holding

A-Score: 5.4/10

Value: 5.5

Growth: 5.2

Quality: 3.9

Yield: 5.0

Momentum: 9.0

Volatility: 4.0

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MutuiOnline

A-Score: 4.8/10

Value: 3.5

Growth: 8.3

Quality: 5.8

Yield: 0.6

Momentum: 6.5

Volatility: 4.0

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Stock-Card
Intrum

A-Score: 4.4/10

Value: 9.1

Growth: 2.1

Quality: 2.8

Yield: 5.0

Momentum: 7.5

Volatility: 0.0

1-Year Total Return ->

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Grenke

A-Score: 4.0/10

Value: 7.1

Growth: 5.7

Quality: 3.5

Yield: 3.8

Momentum: 1.0

Volatility: 2.7

1-Year Total Return ->

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Stock-Card
Funding Circle

A-Score: 2.9/10

Value: 4.8

Growth: 2.1

Quality: 6.7

Yield: 0.0

Momentum: 2.5

Volatility: 1.3

1-Year Total Return ->

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Stock-Card
Hypoport

A-Score: 2.3/10

Value: 2.3

Growth: 4.4

Quality: 4.2

Yield: 0.0

Momentum: 1.0

Volatility: 1.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

134.2$

Current Price

134.2$

Potential

-0.00%

Expected Cash-Flows