Deutsche Wohnen SE (DWNI) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Deutsche Wohnen SE stock €29.95, price €16.02, upside +87.0%, quality 67 out of 100. Rating: strongly undervalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range €14.94 – €52.50 · fair‑value band €10.41 – €53.92 · the €16.02 price screens below the €29.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
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Deutsche Wohnen SE develops and manages residential properties in Germany. It operates through the Rental, Value-add, Recurring Sales, and Development segment. The Rental segment offers value-enhancing management to residential real estate portfolio.
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The Value-add segment engages in the core business of rental. This segment includes multimedia services and the supply of energy. The Recurring Sales segment includes sales of individual condominiums and single-family homes.
The Development segment includes project development to develop build new homes. Deutsche Wohnen SE was founded in 1863 and is headquartered in Berlin, Germany. Deutsche Wohnen SE operates as a subsidiary of Vonovia SE.
Stock analysis
Deutsche Wohnen SE (DWNI) currently trades at €16.02, while our model-based Fair Value estimate is €29.95, implying the stock looks roughly 47% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of €30.37 per share, and 8 of the 14 models we run sit above the €16.02 price.
Bear case: the Growth DCF group reads lowest at €3.96, and 6 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €10.41 (bear) to €53.92 (bull), the price of €16.02 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 67/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Deutsche Wohnen SE reported revenue of €1.4B in FY2025 versus €1.1B in FY2021, a compound +4.5%/yr. Reported net income was €1.1B in FY2025, compounding +6.9%/yr from FY2021.
Key figures
Market cap €6.4B Mid · P/S ratio 3.95 · EPS (TTM) €3.81 · Dividend yield 0.2% · Net margin 99.6% · Return on equity 11.0% · Return on assets (EBIT) 1.5% · Operating margin 42.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 69 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −17% fair-value upside, at 87%, DWNI screens cheaper than that median.
Fair Value models
Bear€10.41Fair Value €29.95Bull€53.92
Price €16.02 · Upside +87.0%
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 (€3.20 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.78/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+14.5%
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.
+15.9%
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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.
−5.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.9%
Dividend (yield on the price)0.2%
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.−5.9% vs −2.2%, slowing
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.24% → 15%
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.
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).
+12.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +10.4% a year for the price.
News mood ⓘNews mood, the average tone of recent news (41 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.Negative
Recent news coverage is more negative than average.
AI conclusion: Stable rental operations with continued organic growth form the main strength, while thin evidence across all qualitative factors leaves no clear durable moat.
Main risk: Ongoing or tightened rent controls and expropriation debates in Berlin, where about 73 percent of the portfolio value is concentrated, could restrict rental income increases and pressure margins for the residential landlord.
Bull case: By divesting non-core assets and leveraging operational efficiencies from the parent group, the company could mitigate regulatory constraints and maintain stable rental cash flows from its core Berlin portfolio.
Bear case: If rent regulations tighten further or refinancing costs rise sharply, rental income growth could stall and interest burdens increase, eroding profitability and forcing larger portfolio sales over time.
Deutsche Wohnen just sold a Berlin residential portfolio of around 5,750 units. That step could sharpen focus on its stable rental operations where organic growth continues. In a tight housing market with regulatory risks, does the sale free up capital for better opportunities or shrink the company's scale over time?
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.Real Estate Services · 475 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score67 · Top 25%
Fair Value upside+87.0% · Above median
Profitability
Return on equity (12 months)11.0% · Top 25%
Return on assets4.4% · Above median
Net margin (12 months)99.6% · Top 25%
Operating margin (12 months)42.3% · Above median
Growth and dividend
Revenue growth (quarter YoY)−19.1% · Bottom 25%
Dividend yield (12 months)0.2% · Bottom 25%
Balance sheet
Debt / equity0.47× · Above median
Valuation Multiplesvs Real Estate Services 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). "Deutsche Wohnen SE Fair Value". https://www.fairvalue-calculator.com/stock/DWNI
Frequently asked questions
Is Deutsche Wohnen SE (DWNI) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of €29.95 versus a price of €16.02, about +87% upside (undervalued).
What is the fair value of DWNI?
Our model-based fair value for Deutsche Wohnen SE is €29.95 (as of Nov 6, 2026), built from audited fundamentals. The current price: €16.02.
What is the quality score of DWNI?
Deutsche Wohnen SE has a Quality Score of 67/100. 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 Deutsche Wohnen SE (DWNI)?
Our model-based price target is the fair value of €29.95 (as of Nov 6, 2026) from 14 valuation models. Cautious scenario €10.41, optimistic scenario €53.92. It is a calculation from audited fundamentals, not an analyst target.
What is the Deutsche Wohnen SE stock forecast for 2026?
Our models put fair value at €29.95, about +87% upside versus a price of €16.02 (undervalued). Cautious scenario €10.41, optimistic scenario €53.92. The calculation is refreshed regularly with new filings.
What is the revenue of Deutsche Wohnen SE (DWNI)?
Deutsche Wohnen SE reported trailing-twelve-month revenue of about €1.6B (latest available figure, as of Nov 6, 2026).
Does Deutsche Wohnen SE pay a dividend?
Deutsche Wohnen SE currently shows a dividend yield of 0.25% relative to its recent price (as of Nov 6, 2026).
What growth is priced into Deutsche Wohnen SE (DWNI)?
For today's price to be fair in a discounted-cash-flow model, Deutsche Wohnen SE would have to grow free cash flow by +12.8 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -13.1 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of DWNI use?
Our models discount Deutsche Wohnen SE at 9.9 %: a base by market capitalisation (mid), damped by beta 1.18, 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 Deutsche Wohnen SE that is +12.8 % per year a year over ten years, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has Deutsche Wohnen SE (DWNI) delivered so far?
Over the past 5 years revenue at Deutsche Wohnen SE grew -13.1 % a year. The price currently implies +12.8 % per year free-cash-flow growth a 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 Deutsche Wohnen SE (DWNI) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Deutsche Wohnen SE (+12.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Deutsche Wohnen SE (DWNI)?
The free-cash-flow yield on the price is 9.12 %: that much free cash flow Deutsche Wohnen SE produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Deutsche Wohnen SE (DWNI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Deutsche Wohnen SE it is €29.95 per share (as of Nov 6, 2026), against a price of €16.02. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Deutsche Wohnen SE stock overvalued or undervalued in 2026?
As of Nov 6, 2026, DWNI trades below its calculated fair value: price €16.02, fair value €29.95, a gap of about +87% (undervalued). 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 DWNI?
No. The price is what the market pays today (€16.02); the fair value is what the company's own numbers justify (€29.95). For Deutsche Wohnen SE the two are €13.93 per share apart. That gap is exactly why we show both numbers side by side.
How much is Deutsche Wohnen SE worth?
The market values Deutsche Wohnen SE at about €6.4B (market capitalisation, as of Nov 6, 2026). Per share that is €16.02; our models calculate a fair value of €29.95 per share.
What do the bullish and bearish scenarios say about DWNI?
Our models span a range for Deutsche Wohnen SE: cautious scenario €10.41, base €29.95, optimistic €53.92 per share (as of Nov 6, 2026, price €16.02). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of DWNI?
The PEG ratio of Deutsche Wohnen SE is 1.92 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Deutsche Wohnen SE (DWNI)?
Balance-sheet figures for Deutsche Wohnen SE (as of Nov 6, 2026): return on equity 11.0%, debt of 0.47 per unit of equity. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is DWNI from its 52-week high?
Deutsche Wohnen SE trades at €16.02, about 32% below its 52-week high of €23.70 and 7% above the low of €14.94 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of €29.95 is for.
Which stocks are comparable to Deutsche Wohnen SE?
From the same area (Real Estate) we also value CBRE Group, KE Holdings, Cellnex Telecom, S.A, Swire Properties Limited, 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 Deutsche Wohnen SE stock attractive at the current price?
The data as of Nov 6, 2026: price €16.02, calculated fair value €29.95 (+87%), Quality Score 67/100, from 14 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 DWNI calculated?
We run Deutsche Wohnen SE through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €29.95, 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 15.5% above its aggregate fair value. Deutsche Wohnen SE currently trades 47% 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 Deutsche Wohnen SE (DWNI)?
The closing price on Nov 5, 2026 was €16.02. Our model-based fair value is €29.95, about +87% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Deutsche Wohnen SE right now?
The model range is unusually wide (€10.41 to €53.92). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Deutsche Wohnen SE
How large is the market capitalisation of Deutsche Wohnen SE (DWNI)?
The market capitalisation of Deutsche Wohnen SE is €6.4B. 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 Deutsche Wohnen SE (DWNI)?
The price-to-sales ratio of Deutsche Wohnen SE is 3.95 (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 Deutsche Wohnen SE (DWNI)?
Earnings per share at Deutsche Wohnen SE are €3.81. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Deutsche Wohnen SE (DWNI)?
The dividend yield of Deutsche Wohnen SE is 0.2% (payout 1.0%). 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 Deutsche Wohnen SE (DWNI)?
The net margin of Deutsche Wohnen SE is 99.6% (last twelve months), excl. one-off gain FY2025 −27.8%. 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 Deutsche Wohnen SE (DWNI)?
The return on equity (ROE) of Deutsche Wohnen SE is 11.0% (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 Deutsche Wohnen SE (DWNI)?
On an EBIT basis the return on assets of Deutsche Wohnen SE is 1.5% (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 Deutsche Wohnen SE (DWNI)?
The operating margin of Deutsche Wohnen SE is 42.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Deutsche Wohnen SE (DWNI)?
Revenue at Deutsche Wohnen SE is growing −19.1% versus a year earlier (3y avg +15.9%). 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 Deutsche Wohnen SE (DWNI)?
Earnings per share at Deutsche Wohnen SE are growing +12.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Deutsche Wohnen SE (DWNI) carry?
The net debt of Deutsche Wohnen SE is €7.6B (fiscal year 2025, ≈ 13.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 6, 2026