Euronext (ENX.PA) stock forecast 2027–2029
What is the Euronext (ENX.PA) stock forecast?
Our forecast for Euronext
€166.15by November 2027
€186.78by November 2029
From €170.00 at the November 6, 2026 close, that is a 0 % gain by 2027 and 17 % by 2029, dividends included.
It blends three cases for November 2027, € per share:
- Bear13225 % chance
- Base17155 % chance
- Bull19720 % chance
Our own forecast, built from Euronext's filings. It is not an average of analysts' price targets, so it can differ from them.
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Executive summary + 8 chapters · 22,482 words · 256 sources
Euronext (ENX.PA) key numbers
Market value is what all the shares are worth together. P/E, price to profit, is how many years of expected profit the price equals. Dividend yield is a year of dividends as a share of the price.
- €17.2 billionmarket value
- 19.7xP/E on the profit our report expects over the next 12 months
- 1.9 %dividend yield
Prices and ratios: our report, at the November 6, 2026 close.
Where could Euronext's shares be by November 2029?
The forecast's central message is modest upside with a wide range of outcomes. The weighted price is €166.15 by November 2027, roughly flat including dividends. It reaches €175.77 by November 2028, an 8% total return. By November 2029, it reaches €186.78, a 17% total return.
The bear case gives €112.44 at the last date, while the bull case gives €282.90. Today's reference price is €170.00. The bear case has a 25% probability. The base case has 55%. The bull case has 20%.
What has to go right for Euronext, and what could go wrong?
The bear case gives €781 million initially and €811 million by 2029. It assumes calmer markets, weaker clearing treasury income and integration costs. The bull case gives €936 million initially and €1,189 million by 2029, requiring stronger fee capture, settlement adoption and integration savings. The declining cash-market share makes the downside credible, while Athens and power futures provide the upside evidence.
The key tests are the 18 February 2027 results, Athens’s June 2027 Optiq migration, T+1 settlement on 11 October 2027 and post-trade integration by 2029. Remember: Euronext works if trading strength and acquisitions become durable clearing, settlement and data cash flows before the valuation falls.
Bull case, 20 % chance: if it goes right
€282.90 by November 2029, +75 % with dividends.
Bear case, 25 % chance: if it goes wrong
€112.44 by November 2029, −29 % with dividends.
How much cash does Euronext really make?
Operating cash flow was €812.08 million in 2025. After property and equipment, leases and interest, the accompanying calculation produces €733.35 million of free cash flow. After stock pay, it produces €712.45 million. Stock pay is included because issuing shares to employees still dilutes shareholders, even without an immediate cash payment.
What does an investor pay for Euronext today?
Our report makes no buy or sell call.
- Enterprise valuethe price of all its shares minus the cash it holds beyond its debts€18.6 billion
- P/E, last 12 months23.2x
- Free cash flow yieldthe cash left in a year after paying for buildings and equipment, as a share of the company's value4.3%
Questions about Euronext (ENX.PA) stock
Where will Euronext stock be in 5 years?
Our report's forecast goes to November 2029. By then it puts the shares between €112.44 in the bear case and €282.90 in the bull case, and at €186.78 with the three cases weighted by their chances. It makes no forecast past November 2029.
Does Euronext pay a dividend?
Yes. At the November 6, 2026 close, a year of dividends came to 1.9 % of the share price (our report). Euronext dividend →
Who are Euronext's competitors?
Our report compares Euronext with Deutsche Börse, LSEG, Nasdaq, ICE, CME Group and HKEX.
Why is this forecast different from analysts' price targets?
Analysts' price targets average the share prices that brokerage analysts expect. Our report builds its own three cases from Euronext's filings, gives each a chance and counts dividends.
More on Euronext (ENX.PA)
This page gives the forecast. The report gives the reasons.
The full report: an executive summary and 8 chapters, 22,482 words, 55 tables. Its first page opens here, no account needed.
How it is made: AI reads Euronext's filings, writes the report, checks the numbers against them and cites each source, 256 in this one. How we work · Corrections
Read Euronext's full report freeNew accounts get one company's ready report free. No card.
Information only, not investment advice. The forecast gives three cases with their chances; it promises no price. Prices are those of the date shown.