Hella KGaA Hueck & Co (HLE) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Hella KGaA Hueck & Co stock €108, price €67.10, upside +61.2%, quality 57 out of 100. Rating: strongly undervalued. Calculated from audited financials with 25 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 1, 2026.
How to read this chart
60‑month range €49.42 – €91.30 · fair‑value band €80.98 – €135.34 · the €67.10 price screens below the €108.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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HELLA GmbH & Co. KGaA, together with its subsidiaries, develops, manufactures, and sells lighting technology and electronic components for automotive industry. It operates through three segments: Lighting, Electronics, and Lifecycle Solutions.
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The Lighting segment offers headlamps, com-bination rear lamps, and body and interior lighting, as well as car body lighting including radomes, illuminated logos, and front phygital shields.
The Electronics segment provides automated driving products, sensors and actuators, energy management products; and body electronics, including lighting electronics and access systems.
The Lifecycle Solutions segment offers vehicle diagnostics, emissions testing, battery testing, light adjustment, and calibration service, as well as data-based services; and sells vehicle wear parts, spare parts, and accessories to dealers and independent workshops.
This segment develops, manufactures, and distributes lighting and electronic products for special vehicles comprising construction vehicles and agricultural, buses, trucks, and trailers, motor homes, as well as marine sectors.
The company was formerly known as HELLA KGaA Hueck & Co. and changed its name to HELLA GmbH & Co. KGaA in October 2017. HELLA GmbH & Co. KGaA was founded in 1899 and is headquartered in Lippstadt, Germany. HELLA GmbH & Co. KGaA operates as a subsidiary of Forvia Germany Gmbh.
Stock analysis
Hella KGaA Hueck & Co (HLE) currently trades at €67.10, while our model-based Fair Value estimate is €108.16, implying the stock looks roughly 38% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €76.50 per share, and 11 of the 25 models we run sit above the €67.10 price.
Bear case: the Earnings-Based group reads lowest at €12.51, and 14 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: €80.98 (bear) to €135.34 (bull), the price of €67.10 sits below 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 57/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hella KGaA Hueck & Co reported revenue of €7.9B in FY2026 versus €6.3B in FY2022, a compound +5.6%/yr. Reported net income was €83.3M in FY2026, compounding −17.7%/yr from FY2022.
Key figures
Market cap €7.5B Mid · P/E ratio 65.0 · P/S ratio 0.95 · EPS (TTM) €1.04 · Dividend yield 0.3% · Net margin 1.5% · Return on equity 3.8% · Return on assets (EBIT) 4.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −26% fair-value upside, at 61%, HLE screens cheaper than that median.
Fair Value models
Bear€80.98Fair Value €108.16Bull€135.34
Price €67.10 · Upside +61.2%
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 2026 figures (about 5 months old). Earnings retained since then (€0.3550 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.
Best data coverage
FCF DCF€72.25€105.39€156.6480
Growth DCF€74.44€105.39€151.1979
Owner Earnings€66.23€96.31€142.8376
All 25 models by family
DCF Models
FCF DCF€72.25€105.39€156.6480
Owner Earnings€66.23€96.31€142.8376
5Y Revenue Exit€51.43€71.04€94.9173
5Y EBITDA Exit€78.09€118.83€164.5975
5Y P/E Exit€36.40€44.11€51.4572
10Y Revenue Exit€57.11€76.50€100.1368
10Y EBITDA Exit€75.45€109.96€152.9068
10Y P/E Exit€48.49€57.64€67.2365
Earnings-Based
Graham-Dodd€5.10€12.51€16.1965
PEG = 1.0€2.25€3.21€4.1757
EPV€31.87€36.38€40.4074
Dividend Discount
Gordon GGM€9.79€18.85€32.4965
DDM Multi-Stage€9.79€15.12€21.3166
Multiples
P/E Multiple€12.37€16.50€20.6263
P/S Multiple€9.56€12.75€15.9358
P/B Multiple€53.43€71.24€89.0555
EV/EBIT€63.01€80.72€98.4266
EV/EBITDA€94.36€122.51€150.6667
EV/Revenue€45.71€61.05€76.3954
Asset-Based
NCAV (Graham)€10.28€13.77€20.5654
Growth DCF
Growth DCF€74.44€105.39€151.1979
Rev-Margin DCF€51.43€71.89€94.2973
Economic Profit
Residual Income€20.52€20.23€20.5776
ROIC Compounder€32.58€39.30€47.4072
Growth Earnings
Growth-Adj P/E€9.45€13.50€17.5567
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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.56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.1%
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.
+1.3%
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.
+4.2%
Start year 2021 (pandemic). Over 10 years: +2.1% a year
Revenue growth 20 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.
+4.2%
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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.
≈ +16.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +16.2%
Dividend (yield on the price)0.3%
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.−20.9% vs −12.0%, slowing
Profit margin 2021 to 2026 ⓘ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.5% → 6%
⚠ Base effect: the rate starts in the earnings trough around 2021 (starting value 1.86 per share, median 4.42 in 2016 to 2019). It measures the recovery from the trough, not lasting growth.
Growth Forecast
Little optimism in the price
The price assumes less 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).
−3.0%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −5.0% a year for the price.
News mood ⓘNews mood, the average tone of recent news (44 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.Positive
Recent news coverage is more positive than average.
AI conclusion: Electronics contracts for battery management and 48-volt systems form the main growth area while the lighting business continues to weigh on overall results in a flat market.
Main risk: Chinese competitors could capture market share from Hella in lighting and electronics through faster development cycles and lower-cost products, squeezing prices and margins.
Bull case: By accelerating local-for-local development and deepening ties with Asian and American OEMs, Hella could offset losses from European customers and compete effectively against Chinese rivals.
Bear case: If Chinese competitors continue gaining ground and European OEMs cut back further, Hella's lighting segment could face sustained losses while electronics growth fails to fully compensate.
HELLA's electronics segment shows resilience with fresh series orders for integrated high-voltage battery management and 48-volt power systems that advance its role in EV power electronics. At the same time the lighting business continues to weigh on overall results amid a flat market. Our models see the shares as overvalued. Will the new electronics contracts lift margins enough to balance the lighting drag, or will the business stay split between growth pockets and pressure points?
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.Auto Parts · 659 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+61.2% · Top 25%
Profitability
Return on equity (12 months)3.8% · Below median
Return on assets1.1% · Bottom 25%
Net margin (12 months)1.5% · Below median
Operating margin (12 months)4.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)2.6% · Below median
Dividend yield (12 months)0.3% · Bottom 25%
Balance sheet
Debt / equity0.21× · Above median
Valuation Multiplesvs Auto Parts 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). "Hella KGaA Hueck & Co Fair Value". https://www.fairvalue-calculator.com/stock/HLE
Frequently asked questions
Is Hella KGaA Hueck & Co (HLE) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of €108.16 versus a price of €67.10, about +61% upside (undervalued).
What is the fair value of HLE?
Our model-based fair value for Hella KGaA Hueck & Co is €108.16 (as of Nov 1, 2026), built from audited fundamentals. The current price: €67.10.
What is the quality score of HLE?
Hella KGaA Hueck & Co has a Quality Score of 57/100. 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 Hella KGaA Hueck & Co (HLE)?
Our model-based price target is the fair value of €108.16 (as of Nov 1, 2026) from 25 valuation models. Cautious scenario €80.98, optimistic scenario €135.34. It is a calculation from audited fundamentals, not an analyst target.
What is the Hella KGaA Hueck & Co stock forecast for 2026?
Our models put fair value at €108.16, about +61% upside versus a price of €67.10 (undervalued). Cautious scenario €80.98, optimistic scenario €135.34. The calculation is refreshed regularly with new filings.
What is the revenue of Hella KGaA Hueck & Co (HLE)?
Hella KGaA Hueck & Co reported trailing-twelve-month revenue of about €7.9B (latest available figure, as of Nov 1, 2026).
Does Hella KGaA Hueck & Co pay a dividend?
Hella KGaA Hueck & Co currently shows a dividend yield of 0.33% relative to its recent price (as of Nov 1, 2026).
What growth is priced into Hella KGaA Hueck & Co (HLE)?
For today's price to be fair in a discounted-cash-flow model, Hella KGaA Hueck & Co would have to grow free cash flow by -3.0 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.3 % per year. As of Nov 1, 2026.
What discount rate (WACC) does the fair value of HLE use?
Our models discount Hella KGaA Hueck & Co at 8.3 %: a base by market capitalisation (mid), damped by beta 0.32, 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 Hella KGaA Hueck & Co that is -3.0 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Hella KGaA Hueck & Co (HLE) delivered so far?
Over the past 5 years revenue at Hella KGaA Hueck & Co grew +4.3 % a year. The price currently implies -3.0 % 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 Hella KGaA Hueck & Co (HLE) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Hella KGaA Hueck & Co (-3.0 % 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 Hella KGaA Hueck & Co (HLE)?
The free-cash-flow yield on the price is 7.43 %: that much free cash flow Hella KGaA Hueck & Co produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hella KGaA Hueck & Co (HLE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hella KGaA Hueck & Co it is €108.16 per share (as of Nov 1, 2026), against a price of €67.10. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Hella KGaA Hueck & Co stock overvalued or undervalued in 2026?
As of Nov 1, 2026, HLE trades below its calculated fair value: price €67.10, fair value €108.16, a gap of about +61% (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 HLE?
No. The price is what the market pays today (€67.10); the fair value is what the company's own numbers justify (€108.16). For Hella KGaA Hueck & Co the two are €41.06 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hella KGaA Hueck & Co worth?
The market values Hella KGaA Hueck & Co at about €7.5B (market capitalisation, as of Nov 1, 2026). Per share that is €67.10; our models calculate a fair value of €108.16 per share.
What do the bullish and bearish scenarios say about HLE?
Our models span a range for Hella KGaA Hueck & Co: cautious scenario €80.98, base €108.16, optimistic €135.34 per share (as of Nov 1, 2026, price €67.10). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HLE?
Hella KGaA Hueck & Co trades at a price-to-earnings ratio of 65.0 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €108.16 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2026), reported earnings: 17.5. Other multiples: PEG 0.8, P/B 2.4, P/S 0.9, EV/EBITDA 7.6.
What is the PEG ratio of HLE?
The PEG ratio of Hella KGaA Hueck & Co is 0.82 (P/E divided by earnings growth, as of Nov 1, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Hella KGaA Hueck & Co (HLE)?
Balance-sheet figures for Hella KGaA Hueck & Co (as of Nov 1, 2026): return on equity 3.8%, debt of 0.21 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is HLE from its 52-week high?
Hella KGaA Hueck & Co trades at €67.10, about 21% below its 52-week high of €84.64 and at the low of €67.10 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of €108.16 is for.
Which stocks are comparable to Hella KGaA Hueck & Co?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 Hella KGaA Hueck & Co stock attractive at the current price?
The data as of Nov 1, 2026: price €67.10, calculated fair value €108.16 (+61%), Quality Score 57/100, from 25 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 HLE calculated?
We run Hella KGaA Hueck & Co through 25 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 €108.16, 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 15.6% above its aggregate fair value. Hella KGaA Hueck & Co currently trades 38% 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 Hella KGaA Hueck & Co (HLE)?
The closing price on Nov 5, 2026 was €67.10. Our model-based fair value is €108.16, about +61% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hella KGaA Hueck & Co right now?
The price is below even our cautious bear case (€80.98). The market is more pessimistic than our downside scenario. Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Hella KGaA Hueck & Co (HLE) come from?
Earnings per share at Hella KGaA Hueck & Co grew −2.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share +2.5 %, EBIT margin −3.1 %, tax rate −0.9 %, residual (interest, one-offs) −1.3 %. 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 Hella KGaA Hueck & Co
How large is the market capitalisation of Hella KGaA Hueck & Co (HLE)?
The market capitalisation of Hella KGaA Hueck & Co is €7.5B. 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 Hella KGaA Hueck & Co (HLE)?
The price-to-sales ratio of Hella KGaA Hueck & Co is 0.95 (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 Hella KGaA Hueck & Co (HLE)?
Earnings per share at Hella KGaA Hueck & Co are €1.04 (price ÷ EPS = P/E 65.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hella KGaA Hueck & Co (HLE)?
The dividend yield of Hella KGaA Hueck & Co is 0.3% (payout 21.2%). 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 Hella KGaA Hueck & Co (HLE)?
The net margin of Hella KGaA Hueck & Co is 1.5% (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 Hella KGaA Hueck & Co (HLE)?
The return on equity (ROE) of Hella KGaA Hueck & Co is 3.8% (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 Hella KGaA Hueck & Co (HLE)?
On an EBIT basis the return on assets of Hella KGaA Hueck & Co is 4.7% (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 Hella KGaA Hueck & Co (HLE)?
The operating margin of Hella KGaA Hueck & Co is 4.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hella KGaA Hueck & Co (HLE)?
Revenue at Hella KGaA Hueck & Co is growing +2.6% versus a year earlier (3y avg +1.3%). 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 Hella KGaA Hueck & Co (HLE)?
Earnings per share at Hella KGaA Hueck & Co are growing +47.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Hella KGaA Hueck & Co (HLE) hold?
Hella KGaA Hueck & Co holds more cash than debt, €1.1B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 1, 2026