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DF Deutsche Forfait AG (DFTK) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of DF Deutsche Forfait AG stock €1.40, price €1.41, that is 0.4% below the price, quality 25 out of 100. Rating: fairly valued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Financial Services DE · ISIN DE000A2AA204

DD DF Deutsche Forfait AG logo Thin data Nov 10, 2026

DF Deutsche Forfait AG

DFTK · XETRA
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Low debt
Generates free cash flow
Fair value €1.40 · Fairly valued
Mixed Growth (revenue YoY +7.9 %/yr in EUR)
Profit last quarter 75% below a year ago.
Quality 25/100
Loss-making · -18.1% net margin (TTM)
Trails peers (3/12)
Narrow moat 24/100 · thin data
Thin data
Estimate⚠ Small free float
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€8.15 €0.9550 Fair Value €1.40 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range €0.9550 – €8.15 · fair‑value band €1.05 – €1.75 · the €1.41 price screens above the €1.40 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

DF Deutsche Forfait AG, provides foreign trade finance and related services for exporters, importers, and other financial companies in Iran, Europe, Germany, and the Czech Republic. It operates through three segments: Trade Finance, Food and Beverage, and Health and Pharma.

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The company offers agenting, consulting, and services for payments, marketing compliance services, debt collection and payment services, and factoring and forfaiting services.

It also involved in the production and distribution of food and beverages in the hospitality sector; installation, management, and operation of bars and restaurants; and beer production and distribution, as well as the production and marketing of non-alcoholic beverages.

In addition, the company engages in activities related to healthcare/medical and pharmaceutical industries; plasma production and processing; and logistics and distribution.

Additionally, it is involved in the collection of foreign trade receivables; project financing; and purchase commitments activities. DF Deutsche Forfait AG was founded in 2000 and is headquartered in Cologne, Germany.

Stock analysis

DF Deutsche Forfait AG (DFTK) currently trades at €1.41, while our estimate is €1.40, so the stock looks roughly fairly valued today (gap 0.4%).

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: €1.05 (bear) to €1.75 (bull), the price of €1.41 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 25/100 (below-average quality), in the Financial Services sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

DF Deutsche Forfait AG reported revenue of €11.3M in FY2025 versus €10.0M in FY2021, a compound +3.2%/yr. Reported net income was −€2.0M in FY2025.

Key figures

Market cap €23.0M Micro · P/S ratio 1.32 · EPS (TTM) €−0.2000 · Net margin −17.6% · Return on equity −7.5% · Return on assets (EBIT) 11.3% (5-year average) · Operating margin 13.4% · Revenue (TTM) €12.5M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 24 out of 100 (low confidence).

What moves the price

The share trades about 83% below its 52-week high and 47% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at 0%, DFTK screens cheaper than that median.

Fair Value

Bear €1.05 Fair Value €1.40 Bull €1.75
Price €1.41 · Downside -0.4%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 25/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 6
How much profit the company makes from its sales and capital
Quality Growth 24
Are margins and returns getting better?
Cashflow 17
Do the profits arrive as real cash?
Financial strength 74
Debt, balance sheet and risk of trouble
Investment 45
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 33
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 23
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 40/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Profit margin (trend) ⓘ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.
42.4% (2020) → 9.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

Price in line with expectations
The price assumes about as much growth as 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).
+4.5%
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 +2.3% a year for the price.

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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.Capital Markets · 455 stocks

Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 25 · Bottom 25%
Fair Value upside −0.4% · Above median
Profitability
Return on assets −4.5% · Bottom 25%
Net margin (12 months) −18.1% · Bottom 25%
Operating margin (12 months) 13.4% · Below median
Growth and dividend
Revenue growth (quarter YoY) 10.6% · Below median
Dividend yield (12 months) 0.0% · Bottom 25%
Balance sheet
Debt / equity 0.25× · Above median

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/B 0.80× · Cheaper than median
P/S (12 months) 1.84× · Cheaper than median
Price / free cash flow (fiscal year) 46.1× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)33 · sector 32
FUTURE (revenue growth)53 · sector 58
PAST (return on equity)0 · sector 31
HEALTH (low debt)87 · sector 94
DIVIDEND (yield)0 · sector 46

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Morgan Stanley MS $187.56 $260.72 +39% vs DFTK
The Charles Schwab Corporation SCHW $93.03 $117.60 +26% vs DFTK
Guotai Haitong Securities Co 601211 ¥16.21 ¥18.02 +11% vs DFTK
Nomura Holdings NMR $9.51 $10.17 +7% vs DFTK
The Goldman Sachs Group GS $910.19 $766.86 −16% vs DFTK
CITIC Securities Company 600030 ¥25.53 ¥20.42 −20% vs DFTK
Robinhood Markets, Inc HOOD $81.33 $47.60 −41% vs DFTK
Macquarie Group MQG A$249.23 A$123.84 −50% vs DFTK
East Money Information Co 300059 ¥18.78 ¥6.72 −64% vs DFTK
Interactive Brokers Group IBKR $77.59 $17.48 −77% vs DFTK

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DF Deutsche Forfait AG: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "DF Deutsche Forfait AG Fair Value". https://www.fairvalue-calculator.com/stock/DFTK

Frequently asked questions

Is DF Deutsche Forfait AG (DFTK) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is €1.40 versus a price of €1.41, about 0% lower (fairly valued).
What is the fair value of DFTK?
Our estimate for DF Deutsche Forfait AG is €1.40 (as of Nov 10, 2026), built from audited fundamentals. The current price: €1.41.
What is the quality score of DFTK?
DF Deutsche Forfait AG has a Quality Score of 25/100. 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 DF Deutsche Forfait AG (DFTK)?
Our calculated price target is the estimate of €1.40 (as of Nov 10, 2026). Cautious scenario €1.05, optimistic scenario €1.75. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the DF Deutsche Forfait AG stock forecast for 2026?
Our estimate puts fair value at €1.40, about 0% lower versus a price of €1.41 (fairly valued). Cautious scenario €1.05, optimistic scenario €1.75. The calculation is refreshed regularly with new filings.
What is the revenue of DF Deutsche Forfait AG (DFTK)?
DF Deutsche Forfait AG reported trailing-twelve-month revenue of about €12.5M (latest available figure, as of Nov 10, 2026).
What growth is priced into DF Deutsche Forfait AG (DFTK)?
For today's price to be fair in a discounted-cash-flow model, DF Deutsche Forfait AG would have to grow free cash flow by +4.5 % 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 +4.9 % per year. As of Nov 10, 2026.
What discount rate (WACC) does the fair value of DFTK use?
Our models discount DF Deutsche Forfait AG at 8.3 %: a base by market capitalisation (nano), damped by beta 0.41, 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 DF Deutsche Forfait AG that is +4.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has DF Deutsche Forfait AG (DFTK) delivered so far?
Over the past 5 years revenue at DF Deutsche Forfait AG grew +4.9 % a year. The price currently implies free-cash-flow growth of +4.5 % 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 DF Deutsche Forfait AG (DFTK) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into DF Deutsche Forfait AG (+4.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of DF Deutsche Forfait AG (DFTK)?
The free-cash-flow yield on the price is 2.17 %: that much free cash flow DF Deutsche Forfait AG 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 DF Deutsche Forfait AG (DFTK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For DF Deutsche Forfait AG it is €1.40 per share (as of Nov 10, 2026), against a price of €1.41.
Is DF Deutsche Forfait AG stock overvalued or undervalued in 2026?
As of Nov 10, 2026, DFTK trades above its calculated fair value: price €1.41, fair value €1.40, a gap of about −0% (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 DFTK?
No. The price is what the market pays today (€1.41); the fair value is what the company's own numbers justify (€1.40). For DF Deutsche Forfait AG the two are €0.0050 per share apart. That gap is exactly why we show both numbers side by side.
How much is DF Deutsche Forfait AG worth?
The market values DF Deutsche Forfait AG at about €23.0M (market capitalisation, as of Nov 10, 2026). Per share that is €1.41; our models calculate a fair value of €1.40 per share.
What do the bullish and bearish scenarios say about DFTK?
Our models span a range for DF Deutsche Forfait AG: cautious scenario €1.05, base €1.40, optimistic €1.75 per share (as of Nov 10, 2026, price €1.41). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of DF Deutsche Forfait AG (DFTK)?
Balance-sheet figures for DF Deutsche Forfait AG (as of Nov 10, 2026): return on equity −7.5%, debt of 0.25 per unit of equity. They feed the Quality Score of 25/100, which measures business quality independently of the share price.
How far is DFTK from its 52-week high?
DF Deutsche Forfait AG trades at €1.41, about 83% below its 52-week high of €8.15 and 47% above the low of €0.9550 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of €1.40 is for.
Which stocks are comparable to DF Deutsche Forfait AG?
From the same area (Financial Services) we also value Morgan Stanley, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers 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 DF Deutsche Forfait AG stock attractive at the current price?
The data as of Nov 10, 2026: price €1.41, calculated fair value €1.40 (−0%), Quality Score 25/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. DF Deutsche Forfait AG itself currently trades above fair value. 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 DF Deutsche Forfait AG (DFTK)?
The closing price on Nov 10, 2026 was €1.41. Our estimate is €1.40, about 0% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with DF Deutsche Forfait AG right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. 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 DF Deutsche Forfait AG

How large is the market capitalisation of DF Deutsche Forfait AG (DFTK)?
The market capitalisation of DF Deutsche Forfait AG is €23.0M. 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 DF Deutsche Forfait AG (DFTK)?
The price-to-sales ratio of DF Deutsche Forfait AG is 1.32 (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 DF Deutsche Forfait AG (DFTK)?
Earnings per share at DF Deutsche Forfait AG are €−0.2000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of DF Deutsche Forfait AG (DFTK)?
The net margin of DF Deutsche Forfait AG is −17.6% (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 DF Deutsche Forfait AG (DFTK)?
The return on equity (ROE) of DF Deutsche Forfait AG is −7.5% (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 DF Deutsche Forfait AG (DFTK)?
On an EBIT basis the return on assets of DF Deutsche Forfait AG is 11.3% (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 DF Deutsche Forfait AG (DFTK)?
The operating margin of DF Deutsche Forfait AG is 13.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at DF Deutsche Forfait AG (DFTK)?
Revenue at DF Deutsche Forfait AG is growing +10.6% 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 DF Deutsche Forfait AG (DFTK)?
Earnings per share at DF Deutsche Forfait AG are growing −75.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does DF Deutsche Forfait AG (DFTK) hold?
DF Deutsche Forfait AG holds more cash than debt, €11.0M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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