Reviewed listing: XETR:ISHA · Analysis dated Oct 29, 2026
It has not been confirmed whether the basis of this analysis still holds today. Read it as a dated earlier assessment; it does not establish a current buying opportunity.
How does the company make money?
Intershop sells manufacturers and wholesalers software for online orders and digital sales channels. The company earns money from cloud subscriptions, software licenses, maintenance, and implementation of its software.
What supports the business?
After cost reductions, Intershop posted positive operating income before interest and taxes in the first nine months of 2026, at 0.185 million euros; a year earlier, this line showed a loss of 1.384 million euros. That is a marked improvement, even as revenue continued to decline.
What could improve?
Cloud bookings rose in the first nine months of 2026 by 29 percent, and revenue from cloud subscriptions increased by 2 percent. If this leads to more longer-term contracts and fewer cancellations, the business could recover; so far, however, net growth in recurring revenue remained small.
How is the stock price assessed?
This assessment refers to the analysis and its quoted price shown here. It is not a live quote or a personal recommendation to buy.
At the specified price of 1.385 euros per share, the market capitalization works out to about 0.79 times preliminary revenue of 2025. That does not look expensive on its own, but losses and declining revenue make a reliable assessment difficult.
What is the main risk?
Revenue fell in the first nine months of 2026 by 7 percent, and new cloud contracts, net of canceled contracts, added only 0.099 million euros in annual revenue. If demand remains weak or customers continue to cancel, a return to stable profits could fail to materialize.
What is the overall assessment?
Intershop improved its operating result through cost reductions, while revenue and additional recurring cloud revenue remain weak. At the specified price, the valuation cannot be reliably assessed given the low earnings power; the balance of opportunities and risks is therefore not yet compelling.
Continue exploring this stock in your account
A free Marqora account gives you the detailed analysis with further evidence and lets you compare and save stocks. Your selected stock is kept when you sign in or register.
Open the full analysis in a free account →
Already have an account? Sign in