Company compiled consensus
Investor Relations - 16 July 2026
The consensus estimates below were collected by Flow Traders Investor Relations based on estimates submitted by 4 sell-side analysts. The brokers that contributed to this consensus are ABN AMRO ODDO BHF, ING, KBC and UBS.
Any opinions, forecasts, estimates, projections, or predictions regarding Flow Traders' performance or financial position made by the analysts (and, therefore, the aggregated consensus estimate numbers which result from the individual estimates) are theirs alone and do not represent opinions, forecasts, estimates, projections or predictions of Flow Traders or its management.
Flow Traders' role in gathering the consensus estimates is purely facilitating and it does not imply any endorsement or concurrence with any information, estimates, forecasts, opinions, conclusions, or recommendations made by analysts or the aggregated consensus estimate numbers. Flow Traders assumes no liability for the accuracy of such estimates and undertakes no obligation to update or revise such estimates.
2Q26E | ||||||
(EURm) | Mean | Min | Max | Median | n | |
ETF value traded (EURbn) | 531 | 487 | 569 | 534 | 4 | |
Traditional | 531 | 487 | 569 | 534 | 4 | |
EMEA | 247 | 225 | 278 | 243 | 4 | |
U.S. | 230 | 207 | 244 | 234 | 4 | |
APAC | 54 | 43 | 59 | 57 | 4 | |
Digital assets | N/A | N/A | N/A | N/A | N/A | |
Net trading income | 140.5 | 127.1 | 150.7 | 142.2 | 4 | |
Other income | 0.5 | (0.5) | 1.9 | 0.3 | 2 | |
Total income | 141.0 | 127.6 | 150.2 | 143.1 | 4 | |
NTI Traditional | 141.1 | 127.6 | 150.7 | 143.1 | 4 | |
EMEA | 70.0 | 60.3 | 83.0 | 68.3 | 4 | |
U.S. | 28.1 | 21.7 | 34.0 | 28.3 | 4 | |
APAC | 43.0 | 32.2 | 58.1 | 40.9 | 4 | |
NTI Digital assets | N/A | N/A | N/A | N/A | N/A | |
Fixed operating expenses | 58.0 | 56.3 | 59.2 | 58.3 | 4 | |
Variable employee expenses | 23.9 | 21.0 | 27.1 | 23.8 | 4 | |
as % of operating result | 31.3% | 29.3% | 33.0% | 31.5% | ||
Operating expenses | 82.0 | 77.4 | 85.8 | 82.4 | 4 | |
EBITDA | 59.0 | 50.2 | 64.6 | 60.6 | 4 | |
% Margin | 42% | 39% | 43% | 42% | ||
Interest expenses | 4.1 | 2.8 | 4.7 | 4.6 | 4 | |
Lease expenses | 0.5 | - | 0.5 | 0.5 | 3 | |
Depreciation & amortization | 4.6 | 3.9 | 5.2 | 4.6 | 4 | |
Impairment of intangible assets | 0.2 | - | 0.2 | - | 1 | |
Profit/(loss) on equity accounted investments | 0.3 | - | 0.3 | - | 1 | |
Profit before tax | 49.9 | 43.1 | 54.9 | 50.8 | 4 | |
Tax | 9.4 | 7.5 | 10.5 | 9.8 | 4 | |
% Tax rate | 18.8% | 17.5% | 19.5% | 19.0% | ||
Net profit | 40.5 | 35.5 | 44.5 | 41.0 | 4 | |
Basic EPS (EUR) | 0.93 | 0.81 | 1.02 | 0.94 | 4 | |