Jungheinrich AG VZO (JUN3) fair value: what the stock is really worth
As of Nov 12, 2026: fair value (intrinsic value) of Jungheinrich AG VZO stock €38.95, price €22.68, upside +71.7%, quality 51 out of 100. Rating: strongly undervalued. 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 11, 2026.
How to read this chart
60‑month range €18.69 – €42.24 · fair‑value band €29.21 – €48.69 · the €22.68 price screens below the €38.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 11, 2026.
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Jungheinrich, through its subsidiaries, provides products and solutions for the intralogistics sector with a portfolio of material handling equipment, automated systems, and warehouse equipment and services worldwide. It operates in two segments, Intralogistics and Financial Services.
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The Intralogistics segment engages in the development, production, sale, and short-term rental of new material handling equipment and warehousing equipment products, including automation; sale and short-term leasing of used trucks; and provision of spare parts, as well as maintenance and repair services.
The Financial Services segment is involved in sales financing and usage transfer of material handling and warehousing equipment.
Its products include electric and hand pallet trucks, and electric pallet stackers; order pickers; reach trucks; very narrow aisle trucks and EKX cold store high rack stackers; electric forklifts; and tow tractors, tugger train trailers, shuttles, used forklift trucks, and assistance systems.
The company also offers rental fleet, and battery and charger rental solutions; contract and event hire services; full flex rental services; automated guided vehicles, conveyor technology, and stacker cranes; lithium-ion and lead-acid batteries; charging technology; powertrain solutions; electric drives/drivetrains; controllers; electromechanics components, control pedals, and displays; electric mounting panels; and cable sets.
In addition, it provides warehouse racking and storage services; digital products and software solutions, including warehouse, fleet, and interface management systems; energy solutions; PowerCube; mobile robots; forklift trucks; explosion proof forklifts; and industrial IT solutions, such as WiFi-infrastructure, barcode-scanner, and mobile workstation, as well as develops software.
It distributes its products through its direct sales and service network. The company was founded in 1953 and is headquartered in Hamburg, Germany.
Stock analysis
Jungheinrich AG VZO (JUN3) currently trades at €22.68, while our model-based Fair Value estimate is €38.95, implying the stock looks roughly 42% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €53.07 per share, and 17 of the 26 models we run sit above the €22.68 price.
Bear case: the Dividend Discount group reads lowest at €10.08, and 9 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: €29.21 (bear) to €48.69 (bull), the price of €22.68 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 51/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Jungheinrich AG O.N.VZO reported revenue of €5.5B in FY2025 versus €4.2B in FY2021, a compound +6.7%/yr. Reported net income was €104M in FY2025, compounding −21.0%/yr from FY2021.
Key figures
Market cap €2.3B Mid · P/E ratio 62.0 · P/S ratio 1.17 · EPS (TTM) €0.3700 · Dividend yield 1.3% · Net margin 1.9% · Return on equity 1.5% · Return on assets (EBIT) 5.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 40% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −48% fair-value upside, at 72%, JUN3 screens cheaper than that median.
Fair Value models
Bear€29.21Fair Value €38.95Bull€48.69
Price €22.68 · Upside +71.7%
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 (€0.0695 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.70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.0%
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.
+4.9%
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.
+7.6%
Start year 2020 (pandemic). Over 10 years: +7.2% 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.
+5.9%
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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. Basis: EBIT basis.
+7.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.8%
Dividend (yield on the price)1.3%
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.−10.2% vs −2.8%, 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.7% → 7%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−10.7%
The company could shrink this much every year for the next five years and today's price would still be justified.
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.
+3.9%
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 −12.6% a year for the price and +1.7% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (5 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: The narrow moat rests on momentum in automation and warehouse solutions, yet persistently low ROE and margins underline weak pricing power.
Main risk: Persistent Chinese competition threatens to keep pressure on margins and limit profitability recovery in the core industrial trucks segment.
Jungheinrich confirmed its 2026 outlook after nine months with rising orders, yet lowered its 2030 revenue and earnings targets amid persistent Chinese competition and weaker European markets. Automation and warehouse solutions show stronger momentum than the core industrial trucks segment. Does the near-term stability and automation push outweigh the structural headwinds enough to support a recovery in profitability, or will competition continue to limit margins?
Compare Jungheinrich AG O.N.VZO with another stock
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.Specialty Industrial Machinery · 841 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside+71.7% · Top 25%
Profitability
Return on equity (12 months)1.5% · Below median
Return on assets1.2% · Below median
Net margin (12 months)3.0% · Below median
Operating margin (12 months)6.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)3.5% · Below median
Dividend yield (12 months)1.3% · Below median
Balance sheet
Debt / equity0.12× · Above median
Valuation Multiplesvs Specialty Industrial Machinery 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). "Jungheinrich AG O.N.VZO Fair Value". https://www.fairvalue-calculator.com/stock/JUN3
Frequently asked questions
Is Jungheinrich AG VZO (JUN3) overvalued or undervalued?
As of Nov 11, 2026, our model estimates a fair value of €38.95 versus a price of €22.68, about +72% upside (undervalued).
What is the fair value of JUN3?
Our model-based fair value for Jungheinrich AG VZO is €38.95 (as of Nov 11, 2026), built from audited fundamentals. The current price: €22.68.
What is the quality score of JUN3?
Jungheinrich AG VZO has a Quality Score of 51/100. 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 Jungheinrich AG VZO (JUN3)?
Our model-based price target is the fair value of €38.95 (as of Nov 11, 2026) from 26 valuation models. Cautious scenario €29.21, optimistic scenario €48.69. It is a calculation from audited fundamentals, not an analyst target.
What is the Jungheinrich AG O.N.VZO stock forecast for 2026?
Our models put fair value at €38.95, about +72% upside versus a price of €22.68 (undervalued). Cautious scenario €29.21, optimistic scenario €48.69. The calculation is refreshed regularly with new filings.
What is the revenue of Jungheinrich AG VZO (JUN3)?
Jungheinrich AG VZO reported trailing-twelve-month revenue of about €5.6B (latest available figure, as of Nov 11, 2026).
Does Jungheinrich AG O.N.VZO pay a dividend?
Jungheinrich AG VZO currently shows a dividend yield of 1.28% relative to its recent price (as of Nov 11, 2026).
How much is the dividend of Jungheinrich AG VZO (JUN3) and when is the ex-dividend date?
Jungheinrich AG VZO pays a dividend of €0.29 per share a year, a dividend yield of 1.3%. The last ex-dividend date was May 20, 2026. A dividend has been paid every year since at least 1996. The payout ratio is 78.4% of earnings. Free cash flow covers the dividend 24.82 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Jungheinrich AG VZO (JUN3)?
For today's price to be fair in a discounted-cash-flow model, Jungheinrich AG VZO would have to grow free cash flow by -10.7 % per year for five years (discount rate 11.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.6 % per year. As of Nov 11, 2026.
What discount rate (WACC) does the fair value of JUN3 use?
Our models discount Jungheinrich AG VZO at 11.3 %: a base by market capitalisation (mid), damped by beta 1.77, 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 Jungheinrich AG VZO that is -10.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.3 %) and the same formula as our fair value.
How much growth has Jungheinrich AG VZO (JUN3) delivered so far?
Over the past 5 years revenue at Jungheinrich AG VZO grew +7.6 % a year. The price currently implies free-cash-flow growth of -10.7 % 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 Jungheinrich AG VZO (JUN3) growing?
The median revenue growth in the sector is +7.9 % a year. That is the yardstick for the growth priced into Jungheinrich AG VZO (-10.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Jungheinrich AG VZO (JUN3)?
The free-cash-flow yield on the price is 14.93 %: that much free cash flow Jungheinrich AG VZO produces per unit of market value. When it exceeds the discount rate of our models (11.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Jungheinrich AG VZO (JUN3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jungheinrich AG VZO it is €38.95 per share (as of Nov 11, 2026), against a price of €22.68. 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 Jungheinrich AG O.N.VZO stock overvalued or undervalued in 2026?
As of Nov 11, 2026, JUN3 trades below its calculated fair value: price €22.68, fair value €38.95, a gap of about +72% (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 JUN3?
No. The price is what the market pays today (€22.68); the fair value is what the company's own numbers justify (€38.95). For Jungheinrich AG VZO the two are €16.27 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jungheinrich AG O.N.VZO worth?
The market values Jungheinrich AG VZO at about €2.3B (market capitalisation, as of Nov 11, 2026). Per share that is €22.68; our models calculate a fair value of €38.95 per share.
What do the bullish and bearish scenarios say about JUN3?
Our models span a range for Jungheinrich AG VZO: cautious scenario €29.21, base €38.95, optimistic €48.69 per share (as of Nov 11, 2026, price €22.68). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of JUN3?
Jungheinrich AG VZO trades at a price-to-earnings ratio of 62.0 (as of Nov 11, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €38.95 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 15.2. Other multiples: PEG 2.8, P/B 1.0, P/S 0.5, EV/EBITDA 4.4.
What is the PEG ratio of JUN3?
The PEG ratio of Jungheinrich AG VZO is 2.77 (P/E divided by earnings growth, as of Nov 11, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Jungheinrich AG VZO (JUN3)?
Balance-sheet figures for Jungheinrich AG VZO (as of Nov 11, 2026): return on equity 1.5%, debt of 0.12 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is JUN3 from its 52-week high?
Jungheinrich AG VZO trades at €22.68, about 40% below its 52-week high of €37.71 and 8% above the low of €20.98 (as of Nov 12, 2026). Distance from the high says nothing about value: that is what the fair value of €38.95 is for.
Which stocks are comparable to Jungheinrich AG O.N.VZO?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, 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 Jungheinrich AG O.N.VZO stock attractive at the current price?
The data as of Nov 11, 2026: price €22.68, calculated fair value €38.95 (+72%), Quality Score 51/100, 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 JUN3 calculated?
We run Jungheinrich AG VZO 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 €38.95 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 14.3% above its aggregate fair value. Jungheinrich AG VZO currently trades 42% 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 Jungheinrich AG VZO (JUN3)?
The closing price on Nov 12, 2026 was €22.68. Our model-based fair value is €38.95, about +72% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jungheinrich AG O.N.VZO right now?
The price is below even our cautious bear case (€29.21). The market is more pessimistic than our downside scenario. Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Jungheinrich AG VZO (JUN3) come from?
Earnings per share at Jungheinrich AG VZO grew +5.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.8 %, EBIT margin −0.2 %, tax rate −0.3 %, residual (interest, one-offs) −1.4 %. 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 Jungheinrich AG VZO
How large is the market capitalisation of Jungheinrich AG VZO (JUN3)?
The market capitalisation of Jungheinrich AG VZO is €2.3B. 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 Jungheinrich AG VZO (JUN3)?
The price-to-sales ratio of Jungheinrich AG VZO is 1.17 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Jungheinrich AG VZO (JUN3)?
Earnings per share at Jungheinrich AG VZO are €0.3700 (price ÷ EPS = P/E 62.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Jungheinrich AG VZO (JUN3)?
The dividend yield of Jungheinrich AG VZO is 1.3% (payout 78.4%). 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 Jungheinrich AG VZO (JUN3)?
The net margin of Jungheinrich AG VZO is 1.9% (fiscal year 2025). 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 Jungheinrich AG VZO (JUN3)?
The return on equity (ROE) of Jungheinrich AG VZO is 1.5% (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 Jungheinrich AG VZO (JUN3)?
On an EBIT basis the return on assets of Jungheinrich AG VZO is 5.8% (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 Jungheinrich AG VZO (JUN3)?
The operating margin of Jungheinrich AG VZO is 6.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jungheinrich AG VZO (JUN3)?
Revenue at Jungheinrich AG VZO is growing +3.5% versus a year earlier (3y avg +4.9%). 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 Jungheinrich AG VZO (JUN3)?
Earnings per share at Jungheinrich AG VZO are growing −33.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Jungheinrich AG VZO (JUN3) carry?
The net debt of Jungheinrich AG VZO is €34.7M (fiscal year 2025, ≈ 0.1 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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Broad data
Nov 11, 2026