$XTB (+0.1%) Hey everyone, I noticed that nobody really posts anything here, and I was wondering why the prices aren’t up to date. Is this just a delay, or is there something going on with the platform?
Depending on the Stock is getquin not able to get real time Updates from their Data Provider. They Use the L&S Exchange for their real time data and if the Security is not listed there, they don‘t have real time prices.
Yesterday I came across the share of the CFD broker XTB. I had the company already in mind, because it is currently very strongly represented also in terms of advertising (among others with @Flo_Pharell , @DividendenHai).
The share seems drastically undervalued compared to other financial companies, or am I missing something?
Currently, XTB is valued at only 2x turnover. For comparison: With listed brokers like e.g. $FTK (+0.85%) the multiple is about 10 (for new brokers, of course, immensely higher).
For CFD brokers, the multiples are somewhat lower (somewhere between 4-7, see e.g. IG Group), but a turnover multiple of 2 still seems extremely low to me.
I don't know the company but first of all: If you want to make a relative valuation and use a revenue multiple, something can easily look cheap if you don't compare growth, op. margin etc. as well. But due to the legal dubiousness of the CFD business model I am out of it anyway.
