Equity Brief · Financial Services2026-10-27
BET.BD·Financial Services

Budapesti Értéktozsde Nyilvánosan Muködo Részvénytársaság

I · AI Analysis

The brief

The company runs Hungary's stock exchange, offering trading platforms for shares, bonds, investment funds, and structured products [Yahoo Finance]. It generates revenue from listing fees, transaction fees, and market data subscriptions sold to financial institutions [Yahoo Finance].

Budapesti Értéktőzsde operates the Budapest Stock Exchange, providing listing and trading services for equities, debt, and funds in Hungary and internationally [Yahoo Finance]. The 63-employee firm is majority-owned (81.3%) by strategic holders, likely including state or parent-company stakes [Yahoo Finance]. Trailing-twelve-month revenue through 30 June 2026 was HUF 4.9B, though reported net income of HUF 10.1B far exceeds operating income of HUF 1.8B, driven by non-operating gains [Yahoo Finance].

The exchange is debt-free and cash-rich, but most of its trailing profit came from one-off non-operating items rather than core operations [Yahoo Finance].

The brief AI analysisConfidence 5/10

Sentinellis health

Financially healthy

7.6/10

7.5+ strong · 4.5–7.5 moderate · under 4.5 weak

Profitability

14% of score10.0/10
Net margin+207.0%Gross margin+80.4%

Returns on capital

14% of score3.3/10
ROIC+5.7%· need > 10%Return on equity+26.3%

Growth & momentum

19% of score10.0/10
Revenue growth+22.6%Operating margin trend+6.8pp YoY

Balance sheet

29% of score10.0/10
Current ratio14.9xNet debt / EBITDA-7.4xInterest coverage58.9xDebt / equity0.01

Cash generation

14% of score6.7/10
Free cash flowHUF 1.7BCash vs reported profitHUF 2.1B vs HUF 10.1B· need OCF > net income

Value creation

10% of score0.0/10
ROIC vs cost of capital-7.4pp· need ROIC above WACC

Sentinellis calculation from the published statements — not a score reported by any data source. Each category is scored on the checks that had data; missing inputs are excluded rather than counted as failures.

Market capitalisation

HUF 59.0B

Revenue (TTM)

HUF 4.9B

Explainers

How we read these numbers

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Revenue depends heavily on trading volumes and capital-market activity in Hungary, a small economy vulnerable to regional political and macroeconomic shocks [Yahoo Finance].

1 of 5 risks in this report

Risks

5

Opportunities

4

Red flags

2

Leadership

8

10 more findings in the full report — free with any account.

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III · Related

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Produced 27 Oct 2026, 10:28 UTC

Figures come from company filings and market data. The Sentinellis health score and the wording attached to it are our interpretation of those figures, not numbers the company reported.

Not investment advice and not a recommendation to buy or sell. Sentinellis holds no positions in the companies it covers, takes no payment from issuers, and has no broker referral arrangements.

How every figure and score is calculated