Stroeer SE & Co KgaA SOTDY

Communication ServicesMedia & PublishingGermany

Last close 10.60 USD on Nov 1, 2026, −3.6% year to date

Quant rating

Quant rating B Rank 46 of 152 in Communication Services

Growth C 88 of 152
Valuation B 30 of 152
Quality B 26 of 152
Revisions C 106 of 152
Momentum C 78 of 152

Wall Street consensus Buy (2.45)Average target 57.07 USD +438.4%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 2.4B
Enterprise value: 4.0B
52-week range: 9.00 – 12.83
3-year range: 9.00 – 15.33
Dividend yield: 5.03%
Beta (5 years): –
Shares outstanding: 55.2M
Next earnings: Nov 12, 2026

About the company

Stroeer SE & Co KGaA is a Germany-based digital multi-channel media company and provider of out-of-home (OOH) and online advertising. The Company operates through three segments: Content Media, Direct Media and OOH Media. The Content Media segment includes display and video advertising, as well as digital marketing services. The Direct Media segment comprises dialog marketing and transactional product groups. The services include direct sales and non-voice channels, such as social media and chat, among others. The OOH Media segment covers activities related to large-format advertising, street furniture and advertising on public transport, and includes the giant poster business BlowUP and the online platform for booking of regional out-of-home campaigns, stroeer-direkt.de, among others.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	2,437	2,119	2,113	1,896	1,850	–
Revenue growth	15.0%	0.3%	11.4%	2.5%	5.0%	6.7%
EPS (basic, normalized)	3.13	2.99	2.79	3.30	3.30	–
EPS growth	4.9%	7.2%	−15.6%	0.2%	–	–
Gross margin	42.8%	43.8%	41.6%	42.7%	39.9%	42.2%
Net margin	6.1%	6.4%	4.8%	8.1%	7.5%	6.6%
ROE	26.7%	29.0%	20.6%	30.5%	25.8%	26.5%

Balance sheet, last quarter
Cash & short-term investments (mil)	96.7
Current ratio	0.48x
Long-term debt (mil)	1,584
Net debt (mil)	1,707
Total equity (mil)	438
Net debt / equity	3.90x
Net debt / EBITDA	2.35x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	2,437	+15.0%	1.7x	726	+12.5%	5.5x	3.13	+4.9%	3.4x
2026	2,439	+0.1%	1.7x	714	−1.7%	5.6x	3.26	+4.2%	3.2x
2027	2,524	+3.5%	1.6x	757	+6.1%	5.3x	3.80	+16.5%	2.8x
2028	2,631	+4.3%	1.5x	806	+6.4%	5.0x	4.11	+8.0%	2.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	2,439	−0.2%	+0.4%	+0.4%	3.26	−2.8%	−2.8%	−1.0%
2027	2,524	−0.1%	−0.1%	−0.6%	3.80	−2.4%	−4.0%	−2.6%
2028	2,631	+0.1%	−0.6%	−0.7%	4.11	−1.1%	−8.3%	−4.4%

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	FQ-3	FQ-2	Mar 2026	Jun 2026
Sales reported (mil)	453	512	496	586	475	505	492	603	496	542
Sales mean (mil)	453	507	523	601	474	520	508	613	486	529
Surprise	+0.2%	+0.8%	−5.2%	−2.5%	+0.3%	−2.8%	−3.3%	−1.6%	+2.0%	+2.4%
EPS reported	0.22	0.74	0.70	1.21	0.15	0.57	–	–	0.32	0.48
EPS mean	0.10	0.71	0.80	1.29	0.22	0.65	0.58	1.30	0.19	0.55
Surprise	+120.0%	+4.2%	−12.5%	−6.2%	−31.8%	−12.3%	–	–	+68.4%	−12.7%

Peer comparison Media & Publishing

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
SOTDY Stroeer SE & Co KgaA	2.4B	2.35x	6.1%	5.50x	3.2x	2.8x	5.6x	5.3x
WLY John Wiley & Sons, Inc.	2.6B	2.69x	13.2%	3.26x	10.7x	9.7x	8.0x	7.6x
STGW Stagwell Inc.	2.6B	3.13x	1.0%	3.69x	8.7x	8.0x	7.7x	7.3x
MH McGraw Hill, Inc.	2.6B	3.24x	1.7%	3.24x	6.7x	6.4x	6.4x	6.1x
DAO Youdao, Inc.	2.4B	–	1.8%	−8.74x	71.7x	46.1x	39.1x	28.6x
THDDY TV Asahi Holdings Corp	2.3B	−1.85x	8.7%	0.72x	14.1x	13.1x	10.6x	10.5x
Mean		1.91x	5.4%	1.28x	19.2x	14.3x	12.9x	10.9x
Median		2.69x	3.9%	3.25x	9.7x	8.8x	7.8x	7.4x

Technical analysis

1M−3.6%
3M+4.4%
1Y−9.1%
3Y−23.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Stroeer SE & Co KgaA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	2,437	2,119	2,113	1,896	1,850	1,761
Cost of revenue	1,394	1,191	1,233	1,087	1,112	1,145
Gross profit	1,043	928	879	810	738	616
Selling, general & administrative expenses	708	611	597	537	518	468
Research & development	–	–	–	–	–	–
Depreciation/amortization	58.6	51.0	52.8	50.8	45.2	57.7
Interest expense (income), operating	1.4	0.3	0.7	0.4	0.1	1.0
Unusual expense (income)	−0.7	−0.4	6.4	0.1	−5.3	1.5
Other operating expenses	−26.4	−20.2	−23.8	−32.7	−22.0	−25.9
Operating income	302	286	246	254	202	114
Net interest income (expense)	−63.9	−69.8	−65.9	−30.0	−8.5	−28.5
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−2.6	1.7	2.0	1.7	−2.0	−10.5
Net income before taxes	236	217	182	226	192	75.1
Provision for taxes	71.5	64.7	58.1	63.1	43.7	15.7
Minority interest	−16.8	−17.3	−21.6	−9.2	−9.2	−16.1
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	148	135	102	153	139	43.3
Extraordinary items	–	–	–	–	–	0
Net income	148	135	102	153	139	43.3
EBIT, normalized	325	287	270	258	220	152
EBITDA, normalized	717	614	624	582	572	561
Basic EPS, normalized	3.13	2.99	2.79	3.30	3.30	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Stroeer SE & Co KgaA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	101	89.7	90.1	91.2	87.3	117
Receivables	304	267	261	255	250	230
Total inventory	47.4	42.0	48.4	33.1	27.7	19.0
Prepaid expenses	35.3	33.2	33.0	30.0	25.5	19.3
Other current assets	10.7	8.6	7.5	14.5	5.1	5.9
Total current assets	498	440	440	424	395	391
Property, plant & equipment	1,346	1,263	1,336	1,306	1,380	1,401
Goodwill	1,122	987	1,013	982	1,041	1,119
Intangibles	241	217	149	156	173	227
Long-term investments	32.8	28.1	28.3	28.4	44.3	34.6
Note receivable	–	–	–	–	–	0
Other long-term assets	52.2	52.5	57.8	54.1	56.4	28.7
Total assets	3,292	2,988	3,025	2,950	3,090	3,202
Liabilities
Accounts payable	292	256	243	233	257	295
Payable/accrued	–	–	–	–	–	–
Accrued expenses	27.2	27.4	23.0	19.7	20.0	15.4
Short-term debt	0	0	0	7.3	17.7	14.2
Current portion of long-term debt	206	269	348	180	425	333
Other current liabilities	311	335	315	308	325	270
Total current liabilities	836	887	930	748	1,045	928
Long-term debt	1,748	1,468	1,460	1,146	1,080	1,586
Minority interest	17.5	11.5	9.8	10.1	10.6	8.5
Other liabilities	131	141	145	548	415	105
Total liabilities	2,732	2,506	2,544	2,453	2,550	2,627
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	65.6	57.8	61.5	60.0	64.4	69.2
Additional paid-in capital	907	797	840	806	867	922
Retained earnings (accumulated deficit)	−408	−371	−416	−364	−383	−407
Treasury stock	–	–	–	–	–	–
Other equity	−5.0	−2.3	−4.0	−5.2	−8.7	−9.4
Total equity	560	482	481	497	539	575
Total liabilities & shareholders' equity	3,292	2,988	3,025	2,950	3,090	3,202

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Stroeer SE & Co KgaA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	164	153	124	162	148	59.4
Depreciation, depletion & amortization	392	330	357	325	352	409
Deferred taxes	–	–	–	–	–	–
Non-cash items	133	120	122	76.4	76.1	86.5
Changes in working capital	−207	−132	−160	−124	−91.9	−86.2
Cash from operations	483	471	443	440	485	469
Investing activities
Capital expenditures	−111	−98.9	−145	−175	−121	−118
Other investing cash flows	−1.1	−106	7.3	16.3	8.2	−28.2
Cash from investing	−112	−205	−137	−159	−113	−147
Financing activities
Financing cash flow items	−1.1	−1.8	−0.6	−8.1	−19.5	−18.1
Cash dividends paid	−166	−126	−123	−147	−143	−152
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−205	−134	−190	−108	−234	−174
Cash from financing	−372	−262	−314	−263	−397	−344
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−2.0	3.3	−8.3	17.6	−25.1	−22.1
Free cash flow	371	372	298	265	364	350

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.