Tikehau Capital (TKO) fair value: what the stock is really worth
As of Nov 11, 2026: fair value (intrinsic value) of Tikehau Capital stock €17.21, price €17.02, upside +1.1%, quality 69 out of 100. Rating: fairly valued. Calculated from audited financials with 12 of our 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 12, 2026.
How to read this chart
60‑month range €13.95 – €23.00 · fair‑value band €13.69 – €33.01 · the €17.02 price screens below the €17.21 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 12, 2026.
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Tikehau Capital is an alternative asset management group with 46.1 billion euro of assets under management (as of 30 June 2024).
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Tikehau Capital has developed a wide range of expertise across four asset classes (private debt, real assets, private equity, and capital markets strategies), as well as multi-asset and special opportunities strategies.
Tikehau Capital provides financing solutions to companies it invests in and seeks to create long-term value for its investors.
Leveraging its strong equity base (3.1 billion euro of shareholders' equity as of 30 June 2024), the firm invests its own capital alongside its investor-clients within each of its strategies.
The firm prefers to invest between $0.69 million and $324 million in companies having sales value between $12.11 million and $1080 million. Tikehau Capital has 723 employees (as of 31 March 2026).
Tikehau Capital is based in Paris, France with across its 17 offices in Europe, the Middle East, Asia, and North America. Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP).
Stock analysis
Tikehau Capital (TKO) currently trades at €17.02, while our model-based Fair Value estimate is €17.21, so the stock looks roughly fairly valued today (gap 1.1%).
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Valuation
Bull case: the Earnings-Based group reads highest at a median of €33.71 per share, and 6 of the 12 models we run sit above the €17.02 price.
Bear case: the Asset-Based group reads lowest at €10.13, and 6 of the 12 models stay below the price. Data coverage for this calculation is high.
Scenario range: €13.69 (bear) to €33.01 (bull), the price of €17.02 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 69/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Tikehau Capital reported revenue of €620M in FY2025 versus €455M in FY2021, a compound +8.0%/yr. Reported net income was €136M in FY2025, compounding −19.1%/yr from FY2021.
Key figures
Market cap €3.0B Mid · P/E ratio 22.1 · P/S ratio 4.87 · EPS (TTM) €0.7700 · Dividend yield 4.7% · Net margin 22.0% · Return on equity 7.4% · Return on assets (EBIT) 6.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 64 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −4% fair-value upside, at 1%, TKO screens cheaper than that median.
Fair Value models
Bear€13.69Fair Value €17.21Bull€33.01
Price €17.02 · Upside +1.1%
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.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.80/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
−10.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−14.8%
Dividend (yield on the price)4.7%
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.−14.8% vs −5.5%, slowing
Profit margin 2019 to 2024 ⓘ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.96% → 49%
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).
+4.3%
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.
+8.3%
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 +2.0% a year for the price and +6.0% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (98 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.Very negative
AI conclusion: Moderate business quality rests on thin public signals and limited information, with strength in broader alternatives distribution but weakness in low returns on equity plus elevated debt levels.
Main risk: Greater competition in private credit could limit fee-earning potential from the expanded distribution to individual investors through semi-liquid vehicles.
Tikehau has expanded access to its European private credit strategies by adding an ELTIF to the iCapital Marketplace for wealth managers across EMEA. This builds on an existing partnership and targets individual investors seeking income through semi-liquid vehicles. Will the firm gain more from wider distribution in alternatives than it risks from greater competition in private credit?
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.Asset Management · 633 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+1.1% · Below median
Profitability
Return on equity (12 months)7.4% · Above median
Return on assets2.5% · Below median
Net margin (12 months)34.7% · Above median
Operating margin (12 months)64.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)135.4% · Top 25%
Dividend yield (12 months)4.7% · Above median
Balance sheet
Debt / equity0.60× · Highest 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
P/E (12 months)22.1× · Pricier than median
P/B0.95× · Pricier than median
P/S (12 months)4.45× · Pricier than median
Price / free cash flow (fiscal year)9.8× · Cheaper than median
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). "Tikehau Capital Fair Value". https://www.fairvalue-calculator.com/stock/TKO.PA
Frequently asked questions
Is Tikehau Capital (TKO) overvalued or undervalued?
As of Nov 12, 2026, our model estimates a fair value of €17.21 versus a price of €17.02, about +1% upside (fairly valued).
What is the fair value of TKO?
Our model-based fair value for Tikehau Capital is €17.21 (as of Nov 12, 2026), built from audited fundamentals. The current price: €17.02.
What is the quality score of TKO?
Tikehau Capital has a Quality Score of 69/100. 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 Tikehau Capital (TKO)?
Our model-based price target is the fair value of €17.21 (as of Nov 12, 2026) from 12 valuation models. Cautious scenario €13.69, optimistic scenario €33.01. It is a calculation from audited fundamentals, not an analyst target.
What is the Tikehau Capital stock forecast for 2026?
Our models put fair value at €17.21, about +1% upside versus a price of €17.02 (fairly valued). Cautious scenario €13.69, optimistic scenario €33.01. The calculation is refreshed regularly with new filings.
What is the revenue of Tikehau Capital (TKO)?
Tikehau Capital reported trailing-twelve-month revenue of about €676M (latest available figure, as of Nov 12, 2026).
Does Tikehau Capital pay a dividend?
Tikehau Capital currently shows a dividend yield of 4.70% relative to its recent price (as of Nov 12, 2026).
How much is the dividend of Tikehau Capital (TKO) and when is the ex-dividend date?
Tikehau Capital pays a dividend of €0.8 per share a year, a dividend yield of 4.7%. The last ex-dividend date was May 4, 2026. A dividend has been paid every year since at least 2018. The payout ratio is 104% of earnings. Free cash flow covers the dividend 2.23 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Tikehau Capital (TKO)?
For today's price to be fair in a discounted-cash-flow model, Tikehau Capital would have to grow free cash flow by +4.3 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +106.4 % per year. As of Nov 12, 2026.
What discount rate (WACC) does the fair value of TKO use?
Our models discount Tikehau Capital at 9.5 %: a base by market capitalisation (mid), damped by beta 0.71, country premium for France. 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 Tikehau Capital that is +4.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Tikehau Capital (TKO) delivered so far?
Over the past 5 years revenue at Tikehau Capital grew +106.4 % a year. The price currently implies free-cash-flow growth of +4.3 % 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 Tikehau Capital (TKO) growing?
The median revenue growth in the sector is +8.9 % a year. That is the yardstick for the growth priced into Tikehau Capital (+4.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Tikehau Capital (TKO)?
The free-cash-flow yield on the price is 10.23 %: that much free cash flow Tikehau Capital produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tikehau Capital (TKO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tikehau Capital it is €17.21 per share (as of Nov 12, 2026), against a price of €17.02. It is the blended result of 12 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Tikehau Capital stock overvalued or undervalued in 2026?
As of Nov 12, 2026, TKO trades below its calculated fair value: price €17.02, fair value €17.21, a gap of about +1% (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 TKO?
No. The price is what the market pays today (€17.02); the fair value is what the company's own numbers justify (€17.21). For Tikehau Capital the two are €0.1900 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tikehau Capital worth?
The market values Tikehau Capital at about €3.0B (market capitalisation, as of Nov 12, 2026). Per share that is €17.02; our models calculate a fair value of €17.21 per share.
What do the bullish and bearish scenarios say about TKO?
Our models span a range for Tikehau Capital: cautious scenario €13.69, base €17.21, optimistic €33.01 per share (as of Nov 12, 2026, price €17.02). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TKO?
Tikehau Capital trades at a price-to-earnings ratio of 22.1 (as of Nov 12, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €17.21 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2017 to 2025), reported earnings: 15.2. Other multiples: P/B 1.0, P/S 4.4, EV/EBITDA 25.5.
How solid is the balance sheet of Tikehau Capital (TKO)?
Balance-sheet figures for Tikehau Capital (as of Nov 12, 2026): return on equity 7.4%, debt of 0.60 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is TKO from its 52-week high?
Tikehau Capital trades at €17.02, about 9% below its 52-week high of €18.76 and 22% above the low of €13.95 (as of Nov 11, 2026). Distance from the high says nothing about value: that is what the fair value of €17.21 is for.
Which stocks are comparable to Tikehau Capital?
From the same area (Financial Services) we also value Blackstone Inc, KKR & Co, Brookfield Asset Management Ltd, Apollo Global Management, 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 Tikehau Capital stock attractive at the current price?
The data as of Nov 12, 2026: price €17.02, calculated fair value €17.21 (+1%), Quality Score 69/100, from 12 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 TKO calculated?
We run Tikehau Capital through 12 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of €17.21 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 14.0% above its aggregate fair value. Tikehau Capital currently trades 1% 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 Tikehau Capital (TKO)?
The closing price on Nov 11, 2026 was €17.02. Our model-based fair value is €17.21, about +1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tikehau Capital right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (€13.69 to €33.01) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Tikehau Capital
How large is the market capitalisation of Tikehau Capital (TKO)?
The market capitalisation of Tikehau Capital is €3.0B. 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 Tikehau Capital (TKO)?
The price-to-sales ratio of Tikehau Capital is 4.87 (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 Tikehau Capital (TKO)?
Earnings per share at Tikehau Capital are €0.7700 (price ÷ EPS = P/E 22.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tikehau Capital (TKO)?
The dividend yield of Tikehau Capital is 4.7% (payout 104%). 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 Tikehau Capital (TKO)?
The net margin of Tikehau Capital is 22.0% (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 Tikehau Capital (TKO)?
The return on equity (ROE) of Tikehau Capital is 7.4% (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 Tikehau Capital (TKO)?
On an EBIT basis the return on assets of Tikehau Capital is 6.1% (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 Tikehau Capital (TKO)?
The operating margin of Tikehau Capital is 64.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tikehau Capital (TKO)?
Revenue at Tikehau Capital is growing +135% versus a year earlier. 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 Tikehau Capital (TKO)?
Earnings per share at Tikehau Capital are growing +50.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Tikehau Capital (TKO) carry?
The net debt of Tikehau Capital is €1.9B (fiscal year 2025, ≈ 6.1 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 12, 2026