Bechtle BC8.DE
Bechtle AG is a German IT services and solutions provider, acting as a system integrator and distributor of hardware and software for businesses and public administrations. Bechtle is growing at a healthy pace (revenue +16.5%, earnings +21.3%) with a solid financial health (ND/EBITDA 1.32) and reasonable valuation (P/E 17.34), although the operating margin of 4.85% is weak and the PEG of 2.99 suggests growth is already priced in.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
Bechtle AG is a German IT services and solutions provider, acting as a system integrator and distributor of hardware and software for businesses and public administrations. Bechtle is growing at a healthy pace (revenue +16.5%, earnings +21.3%) with a solid financial health (ND/EBITDA 1.32) and reasonable valuation (P/E 17.34), although the operating margin of 4.85% is weak and the PEG of 2.99 suggests growth is already priced in.
Score by category
| Category | Score |
|---|---|
| Financial health | 6.1 |
| Quality / Moat | 3.5 |
| Valuation | 5.4 |
| Growth | 8.0 |
| Dividend | 6.4 |
| Momentum | 6.2 |
| Risk & Context | 6.7 |
OVERALL SCORE: 5.8/10
Context and risks
The rise in 10-year Treasury yields (5.17%) and the ECB's rate hike make financing more expensive for a company with Net Debt/EBITDA of 1.32, although the impact is limited. Weakness in the tech sector due to AI concerns and geopolitical tensions adds pressure to the multiple, but it is not a Bechtle-specific risk.
News considered in the analysis
- Bechtle AG (BECTY) (Q2 2026) Earnings Call Highlights: Record Order Intake and Raised Guidance ... — Récord de entradas de pedidos y mejora de la guía en el Q2; el mercado ya ha descontado parte del buen tono, pero el efecto positivo sobre beneficios futuros es material.
- Bechtle Q2 Earnings Call Highlights — Resumen de la misma llamada de resultados; redundante con la noticia anterior, aporta poco adicional.
- There's A Lot To Like About Bechtle's (ETR:BC8) Upcoming €0.70 Dividend — Anuncio de dividendo de 0,70 € por acción; refuerza la visibilidad de la retribución al accionista, aunque es un hecho ya conocido y de magnitud moderada.
- Bechtle AG (BECTY) Q1 2026 Earnings Call Highlights: Strong Growth Amid Market Challenges — Resultados del Q1 ya publicados y ampliamente cubiertos; el mercado ya ha asumido este crecimiento, sin información nueva.
- Bechtle Q1 Earnings Call Highlights — Resumen redundante de la llamada del Q1; sin información adicional relevante.
Verdict: Hold: growth and guidance improvement support the current price, but the low operating margin and valuation without a margin of safety limit upside potential.
Main risk: The operating margin of only 4.85% reflects a low-value-added distribution business, vulnerable to competitive pressure and weak enterprise IT spending if the macro environment deteriorates.
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