ATOSS Software SE (AOF) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of ATOSS Software SE stock €97.79, price €88.90, upside +10.0%, quality 79 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range €51.05 – €140.44 · fair‑value band €60.96 – €127.12 · the €88.90 price screens below the €97.79 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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ATOSS Software SE, together with its subsidiaries, offers technology and consulting solutions for professional workforce management and demand optimized personnel deployment in Germany, Austria, Switzerland, Netherlands, Romania, and internationally.
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It provides Crewmeister, a software solution for small businesses; ATOSS Staff Efficiency Suite and ATOSS Startup Edition, software solutions for time and attendance management and workforce scheduling for all sizes in all industries; and ATOSS Time Control, a software solution for time and attendance management, and workforce scheduling for small to medium-sized customers, as well as de-centrally organized clients.
The company also offers software implementation and training, consulting, and maintenance services, as well as sells hardware components for time recording and access control, and software licenses.
It serves customers in the manufacturing and production, healthcare and social services, retail, logistics and transportation, call center, and service industries. The company was formerly known as ATOSS Software AG and changed its name to ATOSS Software SE in May 2024.
ATOSS Software SE was founded in 1987 and is headquartered in Munich, Germany.
Stock analysis
ATOSS Software SE (AOF) currently trades at €88.90, while our model-based Fair Value estimate is €97.79, so the stock looks roughly fairly valued today (gap 9.1%).
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Valuation
Bull case: the Multiples group reads highest at a median of €73.07 per share, and 4 of the 26 models we run sit above the €88.90 price.
Bear case: the Economic Profit group reads lowest at €24.42, and 22 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: €60.96 (bear) to €127.12 (bull), the price of €88.90 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 79/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
ATOSS Software SE reported revenue of €189M in FY2025 versus €97.1M in FY2021, a compound +18.2%/yr. Reported net income was €48.4M in FY2025, compounding +25.7%/yr from FY2021.
Key figures
Market cap €1.4B Small · P/E ratio 27.7 · P/S ratio 7.68 · EPS (TTM) €3.21 · Dividend yield 2.6% · Net margin 25.9% · Return on equity 66.1% · Return on assets (EBIT) 39.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 91 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 33% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at 10%, AOF screens richer than that median.
Fair Value models
Bear€60.96Fair Value €97.79Bull€127.12
Price €88.90 · Upside +10.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.7950 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.1%
Start year 2020 (pandemic). Over 10 years: +15.5% a year
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+23.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+21.1%
Dividend (yield on the price)2.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.22.2% vs 20.3%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.30% → 36%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+21.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+11.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +18.7% a year for the price and +8.7% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (63 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: The shift to cloud subscriptions builds predictable high-margin recurring revenue as its core strength, yet limited public signals leave the durability of its advantage unconfirmed.
Main risk: Slower customer adoption of the cloud model would constrain the expansion of predictable high-margin recurring streams.
ATOSS continues shifting revenue toward cloud subscriptions, with that segment up 26 percent in the first half while overall recurring revenue reached 152 million euros. The business model now rests more on predictable, high-margin streams than on one-time licenses. Will the next quarterly update confirm that this transition keeps lifting margins and growth, or will external factors cap the gains?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Application · 630 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score79 · Top 25%
Fair Value upside+10.0% · Above median
Profitability
Return on equity (12 months)66.1% · Top 25%
Return on assets30.2% · Top 25%
Net margin (12 months)25.9% · Top 25%
Operating margin (12 months)40.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)11.3% · Above median
Dividend yield (12 months)2.6% · Above median
Valuation Multiplesvs Software - Application median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "ATOSS Software SE Fair Value". https://www.fairvalue-calculator.com/stock/AOF
Frequently asked questions
Is ATOSS Software SE (AOF) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €97.79 versus a price of €88.90, about +10% upside (fairly valued).
What is the fair value of AOF?
Our model-based fair value for ATOSS Software SE is €97.79 (as of Nov 7, 2026), built from audited fundamentals. The current price: €88.90.
What is the quality score of AOF?
ATOSS Software SE has a Quality Score of 79/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ATOSS Software SE (AOF)?
Our model-based price target is the fair value of €97.79 (as of Nov 7, 2026) from 26 valuation models. Cautious scenario €60.96, optimistic scenario €127.12. It is a calculation from audited fundamentals, not an analyst target.
What is the ATOSS Software SE stock forecast for 2026?
Our models put fair value at €97.79, about +10% upside versus a price of €88.90 (fairly valued). Cautious scenario €60.96, optimistic scenario €127.12. The calculation is refreshed regularly with new filings.
What is the revenue of ATOSS Software SE (AOF)?
ATOSS Software SE reported trailing-twelve-month revenue of about €206M (latest available figure, as of Nov 7, 2026).
Does ATOSS Software SE pay a dividend?
ATOSS Software SE currently shows a dividend yield of 2.56% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of ATOSS Software SE (AOF) and when is the ex-dividend date?
ATOSS Software SE pays a dividend of €2.28 per share a year, a dividend yield of 2.6%. The last ex-dividend date was May 4, 2026. A dividend has been paid every year since at least 2003. The payout ratio is 71.0% of earnings. Free cash flow covers the dividend 1.28 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into ATOSS Software SE (AOF)?
For today's price to be fair in a discounted-cash-flow model, ATOSS Software SE would have to grow free cash flow by +21.3 % per year for five years (discount rate 11.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +17.1 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of AOF use?
Our models discount ATOSS Software SE at 11.9 %: a base by market capitalisation (small), damped by beta 1.31, country premium for Germany. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For ATOSS Software SE that is +21.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.9 %) and the same formula as our fair value.
How much growth has ATOSS Software SE (AOF) delivered so far?
Over the past 5 years revenue at ATOSS Software SE grew +17.1 % a year. The price currently implies free-cash-flow growth of +21.3 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of ATOSS Software SE (AOF) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into ATOSS Software SE (+21.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of ATOSS Software SE (AOF)?
The free-cash-flow yield on the price is 3.26 %: that much free cash flow ATOSS Software SE produces per unit of market value. When it exceeds the discount rate of our models (11.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ATOSS Software SE (AOF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ATOSS Software SE it is €97.79 per share (as of Nov 7, 2026), against a price of €88.90. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is ATOSS Software SE stock overvalued or undervalued in 2026?
As of Nov 7, 2026, AOF trades below its calculated fair value: price €88.90, fair value €97.79, a gap of about +10% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AOF?
No. The price is what the market pays today (€88.90); the fair value is what the company's own numbers justify (€97.79). For ATOSS Software SE the two are €8.89 per share apart. That gap is exactly why we show both numbers side by side.
How much is ATOSS Software SE worth?
The market values ATOSS Software SE at about €1.4B (market capitalisation, as of Nov 7, 2026). Per share that is €88.90; our models calculate a fair value of €97.79 per share.
What do the bullish and bearish scenarios say about AOF?
Our models span a range for ATOSS Software SE: cautious scenario €60.96, base €97.79, optimistic €127.12 per share (as of Nov 7, 2026, price €88.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AOF?
ATOSS Software SE trades at a price-to-earnings ratio of 27.7 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €97.79 is built from several models across several years. Other multiples: P/B 16.3, P/S 7.7, EV/EBITDA 19.0.
How solid is the balance sheet of ATOSS Software SE (AOF)?
Balance-sheet figures for ATOSS Software SE (as of Nov 7, 2026): return on equity 66.1%. They feed the Quality Score of 79/100, which measures business quality independently of the share price.
How far is AOF from its 52-week high?
ATOSS Software SE trades at €88.90, about 23% below its 52-week high of €115.96 and 33% above the low of €66.90 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €97.79 is for.
Which stocks are comparable to ATOSS Software SE?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ATOSS Software SE stock attractive at the current price?
The data as of Nov 7, 2026: price €88.90, calculated fair value €97.79 (+10%), Quality Score 79/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AOF calculated?
We run ATOSS Software SE through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €97.79 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. ATOSS Software SE currently trades 9% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ATOSS Software SE (AOF)?
The closing price on Nov 6, 2026 was €88.90. Our model-based fair value is €97.79, about +10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ATOSS Software SE right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (€60.96 to €127.12) leaves room in how you read the outcome.
Where does the earnings growth of ATOSS Software SE (AOF) come from?
Earnings per share at ATOSS Software SE grew +20.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +16.0 %, EBIT margin +3.7 %, tax rate −0.1 %, residual (interest, one-offs) +0.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of ATOSS Software SE
How large is the market capitalisation of ATOSS Software SE (AOF)?
The market capitalisation of ATOSS Software SE is €1.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ATOSS Software SE (AOF)?
The price-to-sales ratio of ATOSS Software SE is 7.68 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ATOSS Software SE (AOF)?
Earnings per share at ATOSS Software SE are €3.21 (price ÷ EPS = P/E 27.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ATOSS Software SE (AOF)?
The dividend yield of ATOSS Software SE is 2.6% (payout 71.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of ATOSS Software SE (AOF)?
The net margin of ATOSS Software SE is 25.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ATOSS Software SE (AOF)?
The return on equity (ROE) of ATOSS Software SE is 66.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ATOSS Software SE (AOF)?
On an EBIT basis the return on assets of ATOSS Software SE is 39.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ATOSS Software SE (AOF)?
The operating margin of ATOSS Software SE is 40.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ATOSS Software SE (AOF)?
Revenue at ATOSS Software SE is growing +11.3% versus a year earlier (3y avg +18.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ATOSS Software SE (AOF)?
Earnings per share at ATOSS Software SE are growing +18.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does ATOSS Software SE (AOF) hold?
ATOSS Software SE holds more cash than debt, €84.4M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 7, 2026