We have fine-tuned our estimates for JDC Group (JDC) following the final FY25 results published on 31 March that were in line with the preliminary results. Updated for our new estimates and rolling the DCF model forward, our valuation is now €36.18 per share, from €35.63 previously. Compared to peers, JDC trades at a premium to financial brokers and now also at a premium on an EV/EBITDA basis compared to platform peers.
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