Added to YB: 2026-02-13
Pitch date: 2026-02-11
G24.DE [bullish]
Scout24 SE
-3.67%
current return
Author Info
No bio for this author
Company Info
Scout24 SE operates ImmoScout24, a digital platform for the residential and commercial real estate sectors in Germany and internationally.
Market Cap
EUR 5.3B
Pitch Price
EUR 72.25
Price Target
N/A
Dividend
1.76%
EV/EBITDA
17.49
P/E
23.70
EV/Sales
8.47
Sector
Interactive Media and Services
Category
growth
Scout24: The Property Portal to Buy
G24.DE: Dominant German property portal w/ accelerating growth & expanding margins vs sector peers facing AI fears & compression. Longer runway: 75% agent penetration vs 90%+ peers, fragmented market (25k small offices), high (30-50%) for-sale-by-owner share. Take rate ~50% of peers (~2% vs 4%+). Customer growth >5% (up from 2-3%), ARPU >10% (up from 8%) as buyer's market drives upgrades. TenantPlus: 500k subs @€18/mo, +15% growth. AI-resistant: fragmented supply hard to scrape, proprietary Sprengnetter data, conversational search live. Trading 18.8x earnings, >20% 5yr IRR potential w/ 10% organic rev growth, margin expansion, buybacks & tax cuts. Risk: commission reform, hot market return.
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