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1. Company Snapshot

1.a. Company Description

Bourse Direct SA provides Internet stock brokerage services in France.It offers a platform of services, tools, and financial products, including French and foreign equities, derivatives, trackers, warrants, certificates, turbos, mutual funds, UCITS, and CFDs, as well as tax exemption, real estate, and life insurance products through the Boursedirect.fr, Capitol.fr, Tradebox.fr, Absysteme.fr, Wargny.com, and Mesactions.com sites.The company was founded in 1996 and is headquartered in Paris, France.


Bourse Direct SA operates as a subsidiary of E-VIEL SA.

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1.b. Last Insights on BSD

The recent stock performance of Bourse Direct SA has been driven by its solid fundamentals and growth potential. As global markets navigate a mixed start to 2025, investors are seeking small-cap stocks with potential opportunities, and Bourse Direct SA's undiscovered gems profile makes it an attractive choice. The company's ability to thrive amidst broader market uncertainties suggests its resilience and adaptability. A recent news snippet highlights the company's potential in January 2025, positioning it as a promising investment opportunity.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Undiscovered Gems in Europe to Explore This October 2025

Oct -17

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.81%)

6. Segments

Online Stock Exchange

Expected Growth: 8%

The 8% growth of Online Stock Exchange from Bourse Direct SA is driven by increasing online trading adoption, mobile accessibility, and user-friendly interfaces. Additionally, declining brokerage fees, growing investor confidence, and expanding product offerings contribute to the segment's growth.

Financial Intermediation

Expected Growth: 6%

Bourse Direct SA's 6% growth in Financial Intermediation is driven by increasing demand for online trading platforms, expansion into new markets, and strategic partnerships. Additionally, the company's focus on digitalization, cost reduction, and improved customer experience have contributed to its growth. Furthermore, the rise of fintech and growing investor confidence in the market have also supported the segment's growth.

7. Detailed Products

Online Trading Platform

A digital platform that enables users to buy and sell financial instruments such as stocks, bonds, and ETFs

Portfolio Management Services

A comprehensive service that helps clients manage their investment portfolios, including asset allocation, risk management, and performance monitoring

Market Data and Research

A suite of tools and resources that provide real-time market data, news, and analysis to help investors make informed investment decisions

Execution Services

A range of services that facilitate the execution of trades, including order routing, trade execution, and settlement

Custody and Settlement Services

A secure and reliable service that holds and settles securities transactions, ensuring timely and accurate settlement of trades

8. Bourse Direct SA's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Bourse Direct SA is moderate due to the presence of alternative investment platforms and online brokerages.

Bargaining Power Of Customers

The bargaining power of customers is low due to the lack of negotiating power and the high switching costs associated with changing investment platforms.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate due to the presence of multiple suppliers of financial services and the moderate switching costs associated with changing suppliers.

Threat Of New Entrants

The threat of new entrants is high due to the low barriers to entry and the increasing popularity of online investment platforms.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of multiple established players in the online brokerage industry and the high level of competition for 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 61.21%
Debt Cost 7.81%
Equity Weight 38.79%
Equity Cost 7.81%
WACC 7.81%
Leverage 157.77%

11. Quality Control: Bourse Direct SA passed 5 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

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ABG Sundal Collier Holding

A-Score: 6.9/10

Value: 6.0

Growth: 3.3

Quality: 7.6

Yield: 10.0

Momentum: 5.0

Volatility: 9.3

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OVB Holding

A-Score: 6.6/10

Value: 5.5

Growth: 5.8

Quality: 5.2

Yield: 7.5

Momentum: 5.5

Volatility: 10.0

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Bourse Direct

A-Score: 6.3/10

Value: 6.0

Growth: 8.8

Quality: 7.6

Yield: 5.0

Momentum: 3.0

Volatility: 7.7

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CMC Markets

A-Score: 5.6/10

Value: 8.0

Growth: 5.8

Quality: 8.2

Yield: 8.1

Momentum: 1.0

Volatility: 2.3

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Flow Traders

A-Score: 5.4/10

Value: 8.2

Growth: 5.0

Quality: 6.1

Yield: 0.0

Momentum: 8.5

Volatility: 4.7

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Close Brothers

A-Score: 4.4/10

Value: 7.8

Growth: 1.9

Quality: 3.5

Yield: 4.4

Momentum: 8.5

Volatility: 0.3

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

4.36$

Current Price

4.36$

Potential

-0.00%

Expected Cash-Flows