Added to YB: 2026-05-18
Pitch date: 2026-03-11
G24.DE [bullish]
Scout24 SE
+0.97%
current return
Author Info
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Company Info
Scout24 SE operates ImmoScout24, a digital marketplace for the residential and commercial real estate sectors in Germany and internationally.
Market Cap
EUR 5.4B
Pitch Price
EUR 72.50
Price Target
116.00 (+58%)
Dividend
1.95%
EV/EBITDA
16.77
P/E
21.37
EV/Sales
8.31
Sector
Interactive Media and Services
Category
value
Scout24 SE - $G24.DE
G24.DE: Leading German real estate platform w/ 80% market share, 40% more inventory than #2. Rev +11% organic to €652M, EBITDA €406M at 62% margin. Growth from agent subs (4% customers, 9% ARPU) + private listings/renters. Germany's 7.14% commission rate = largest agent wallet in EU, yet Scout captures 40-50% less wallet share than Rightmove despite superior product. Trades 12x 2026 EBITDA vs 17x 5yr avg, down on AI fears despite strong fundamentals & 80% direct traffic. €500M buyback (9% outstanding) + 2.5% yield. CMD in May catalyst.
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