Deutsche Boerse AG

DB1: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Deutsche Boerse Earnings: Good Underlying Growth, but Weakness in Index Business

Niklas Kammer

Oct 28, 2025

Deutsche Boerse reported third-quarter EBITDA growth of close to 5%, in line with our full-year expectations. Treasury income is still a headwind, as interest rates have come down, but underlying performance remains good.

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Deutsche Boerse AG

Deutsche Boerse Earnings: Good Underlying Growth, but Weakness in Index Business

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