Euronext NV

ENX: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Euronext Earnings: Decent Results as Lower Operating Expenses Stand Out

Niklas Kammer

Nov 10, 2023

Narrow-moat Euronext reported adjusted EBITDA of EUR 146.5 million, up 7% on a like-for-like basis as the exchange group saw good traction in nontrading-related segments. We maintain our EUR 88 per-share fair value estimate.

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Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

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Euronext NV

Euronext Earnings: Decent Results as Lower Operating Expenses Stand Out

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