Company Reports

Nemetschek's second quarter had revenue in line with Vara consensus but missed on EBITDA due to a one-off currency effect. Furthermore, HCSS integration guidance, challenges in media, and the transition to subscription in design are reducing clarity on underlying trends. Shares fell 14% on July 30.

Nemetschek, based in Germany, is a leader in the software market for the architecture, engineering, construction, and building operations industry. The company’s software helps architects and other construction professionals plan, design, and manage construction projects, as well as collaborate with others more efficiently. Nemetschek is also active in the software market for the media and entertainment industry, where its flagship product, Maxon, is a leader in 3D animation.

Nemetschek's first-quarter results were broadly in line with FactSet consensus, and 2026 guidance was maintained.

Nemetschek announced its intention to acquire Heavy Construction Systems Specialists from private equity firm Thoma Bravo. HCSS is the leading infrastructure and heavy civil construction software provider in North America. Shares fell 3% on April 15.

Nemetschek reported preliminary 2025 revenue and EBITDA that were in line with FactSet consensus. Shares were down 2% intraday Jan. 29.

Nemetschek's third-quarter results beat FactSet consensus, and 2025 guidance was maintained. Bluebeam continued to drive group performance. Shares fell 2% on Nov 4.

Nemetschek, based in Germany, is a leader in the software market for the architecture, engineering, construction, and building operations industry. The company’s software helps architects and other construction professionals plan, design, and manage construction projects, as well as collaborate with others more efficiently. Nemetschek is also active in the software market for the media and entertainment industry, where its flagship product, Maxon, is a leader in 3D animation.

Nemetschek, based in Germany, is a leader in the software market for the architecture, engineering, construction, and building operations industry. The company’s software helps architects and other construction professionals plan, design, and manage construction projects, as well as collaborate with others more efficiently. Nemetschek is also active in the software market for the media and entertainment industry, where its flagship product, Maxon, is a leader in 3D animation.

Nemetschek's preliminary second-quarter results delivered a revenue and EBITDA beat versus FactSet consensus, and the company raised 2025 guidance. Shares were flat intraday.

Nemetschek, based in Germany, is a leader in the software market for the architecture, engineering, construction, and building operations industry. The company’s software helps architects and other construction professionals plan, design, and manage construction projects, as well as collaborate with others more efficiently. Nemetschek is also active in the software market for the media and entertainment industry, where its flagship product Maxon is a leader in 3D animation.

Nemetschek's first-quarter 2025 results were a bit messy due to one-offs, but underlying momentum remains strong despite macroeconomic uncertainty. 2025 guidance was maintained. Shares rose 4%.

Nemetschek surprised the market with robust revenue growth in the fourth quarter that drove fiscal 2024 results above guidance. Fiscal 2024 organic revenue growth was 14% versus guidance of 10%-11% while reported EBITDA margin is expected to be slightly above guidance of 29%-30%.

Nemetschek's third-quarter results were broadly in line with FactSet consensus, and 2024 guidance was confirmed. The shares' intraday rise was somewhat surprising, given what we see as largely in-line results. We think this reflects a very smooth transition to a subscription-based revenue model.

Nemetschek reported second-quarter results that were broadly in line with FactSet consensus. After incorporating the recently announced GoCanvas acquisition and adjusting for the time value of money, we are raising our fair value estimate 11% to EUR 68 and maintaining our narrow moat rating. At current levels, the shares look overvalued.

Nemetschek, based in Germany, is a leader in the software market for the architecture, engineering, construction, and building operations industry. The company’s software helps architects and other construction professionals plan, design, and manage construction projects, as well as collaborate with others more efficiently. Nemetschek is also active in the software market for the media and entertainment industry, where its flagship product Maxon is a leader in 3D animation.

Narrow-moat Nemetschek reported first-quarter results that were in line with FactSet consensus and our expectations. Shares are trading roughly flat intraday. We don’t expect to make a material change to our EUR 61 fair value estimate. At current levels, the shares look overvalued.

Nemetschek, based in Germany, is a leader in the software market for the architecture, engineering, construction, and building operations industry. The company’s software helps architects and other construction professionals plan, design, and manage construction projects, as well as collaborate with others more efficiently. Nemetschek is also active in the software market for the media and entertainment industry, where its flagship product Maxon is a leader in 3D animation.

Narrow-moat Nemetschek reported fourth-quarter results that were in line with the preliminary numbers released in February. We don’t expect to make a material change to our EUR 54 fair value estimate. At current levels, the shares look overvalued.

Narrow-moat Nemetschek announced preliminary results for fiscal 2023 that were broadly in line with FactSet consensus and at the top end of the guidance ranges for revenue growth and EBITDA margin. Full details and 2024 guidance will not be released until March 21. We don’t expect to make a material change to our EUR 54 fair value estimate. At current levels, the shares look overvalued.

Narrow-moat Nemetschek delivered solid results in the third quarter. While the company beat the FactSet consensus on revenue and EBITDA and raised 2023 guidance, we surmise this was broadly in line with market expectations as shares traded flat on the day. We are currently updating our model for the latest developments but do not anticipate a material change to our EUR 54 fair value estimate. At current levels, the shares look moderately overvalued.