Grenke AG (GLJ) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Grenke AG stock €20.53, price €10.26, upside +100.1%, quality 43 out of 100. Rating: strongly undervalued. Calculated from audited financials with 7 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 6, 2026.
How to read this chart
60‑month range €9.73 – €34.17 · fair‑value band €15.40 – €25.66 · the €10.26 price screens below the €20.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Grenke AG, together with its subsidiaries, provides financial services to small and medium-sized (SME) enterprises in Germany, France, Italy, and internationally.
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It is involved in the financing for commercial lessees; leasing, services, protection, and maintenance offers, as well as small-ticket leasing of IT products, such as PCs, notebooks, servers, monitors, and other peripheral devices.
The company also offers leasing portfolio that includes office communication products comprising telecommunications and copying equipment, as well as medical technology products, small machines and equipment, security devices, and green economy objects, including wall boxes, photovoltaic systems, and eBikes.
In addition, it provides fixed-term deposits for private and commercial customers through its website and online platforms; microloans and start-up financing, as well as development loans to SMEs and self-employed professionals; and small-ticket factoring services.
The company was formerly known as GrenkeLeasing AG and changed its name to Grenke AG in May 2016. Grenke AG was founded in 1978 and is headquartered in Baden-Baden, Germany.
Stock analysis
Grenke AG (GLJ) currently trades at €10.26, while our model-based Fair Value estimate is €20.53, implying the stock looks roughly 50% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of €27.08 per share, and 5 of the 7 models we run sit above the €10.26 price.
Bear case: the Dividend Discount group reads lowest at €4.32, and 2 of the 7 models stay below the price. Data coverage for this calculation is high.
Scenario range: €15.40 (bear) to €25.66 (bull), the price of €10.26 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 43/100 (below-average quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Grenke AG reported revenue of €902M in FY2025 versus €609M in FY2021, a compound +10.3%/yr. Reported net income was €69.8M in FY2025, compounding −8.5%/yr from FY2021.
Key figures
Market cap €453M Small · P/E ratio 7.6 · P/S ratio 0.73 · EPS (TTM) €1.35 · Dividend yield 4.1% · Net margin 10.5% · Return on equity 5.5% · Return on assets (EBIT) 1.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 34% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −3% fair-value upside, at 100%, GLJ screens cheaper than that median.
Fair Value models
Bear€15.40Fair Value €20.53Bull€25.66
Price €10.26 · Upside +100.1%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.7950 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.37/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+10.1%
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.
+13.7%
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.
+6.5%
Start year 2020 (pandemic). Over 10 years: −6.3% a year
Revenue growth 21 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.
+11.1%
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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.
−1.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.9%
Dividend (yield on the price)4.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−5.9% vs −1.4%, 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.19% → 8%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 6.2%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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.Credit Services · 283 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score43 · Bottom 25%
Fair Value upside+100.1% · Top 25%
Profitability
Return on equity (12 months)5.5% · Below median
Return on assets0.8% · Bottom 25%
Net margin (12 months)10.5% · Bottom 25%
Operating margin (12 months)13.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)11.7% · Above median
Dividend yield (12 months)4.1% · Above median
Balance sheet
Debt / equity3.22× · Highest 25%
Valuation Multiplesvs Credit Services median · lower = cheaper
P/E (12 months)7.6× · Cheaper than median
P/B0.44× · Cheapest 25%
P/S (12 months)0.73× · Cheapest 25%
EV/EBITDA29.5× · Priciest 25%
PEG0.75× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)100· sector 59
FUTURE (revenue growth)59· sector 57
PAST (return on equity)22· sector 39
HEALTH (low debt)–
DIVIDEND (yield)82· sector 63
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
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). "Grenke AG Fair Value". https://www.fairvalue-calculator.com/stock/GLJ
Frequently asked questions
Is Grenke AG (GLJ) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of €20.53 versus a price of €10.26, about +100% upside (undervalued).
What is the fair value of GLJ?
Our model-based fair value for Grenke AG is €20.53 (as of Nov 6, 2026), built from audited fundamentals. The current price: €10.26.
What is the quality score of GLJ?
Grenke AG has a Quality Score of 43/100. 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 Grenke AG (GLJ)?
Our model-based price target is the fair value of €20.53 (as of Nov 6, 2026) from 7 valuation models. Cautious scenario €15.40, optimistic scenario €25.66. It is a calculation from audited fundamentals, not an analyst target.
What is the Grenke AG stock forecast for 2026?
Our models put fair value at €20.53, about +100% upside versus a price of €10.26 (undervalued). Cautious scenario €15.40, optimistic scenario €25.66. The calculation is refreshed regularly with new filings.
What is the revenue of Grenke AG (GLJ)?
Grenke AG reported trailing-twelve-month revenue of about €695M (latest available figure, as of Nov 6, 2026).
Does Grenke AG pay a dividend?
Grenke AG currently shows a dividend yield of 4.09% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Grenke AG (GLJ) and when is the ex-dividend date?
Grenke AG pays a dividend of €0.42 per share a year, a dividend yield of 4.1%. The last ex-dividend date was Apr 27, 2026. A dividend has been paid every year since at least 2003. The payout ratio is 31.1% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of Grenke AG (GLJ)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Grenke AG it is €20.53 per share (as of Nov 6, 2026), against a price of €10.26. It is the blended result of 7 valuation models in 5 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Grenke AG stock overvalued or undervalued in 2026?
As of Nov 6, 2026, GLJ trades below its calculated fair value: price €10.26, fair value €20.53, a gap of about +100% (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 GLJ?
No. The price is what the market pays today (€10.26); the fair value is what the company's own numbers justify (€20.53). For Grenke AG the two are €10.27 per share apart. That gap is exactly why we show both numbers side by side.
How much is Grenke AG worth?
The market values Grenke AG at about €453M (market capitalisation, as of Nov 6, 2026). Per share that is €10.26; our models calculate a fair value of €20.53 per share.
What do the bullish and bearish scenarios say about GLJ?
Our models span a range for Grenke AG: cautious scenario €15.40, base €20.53, optimistic €25.66 per share (as of Nov 6, 2026, price €10.26). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GLJ?
Grenke AG trades at a price-to-earnings ratio of 7.6 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €20.53 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 14.3. Other multiples: PEG 0.7, P/B 0.4, P/S 0.7, EV/EBITDA 29.5.
What is the PEG ratio of GLJ?
The PEG ratio of Grenke AG is 0.75 (P/E divided by earnings growth, as of Nov 6, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Grenke AG (GLJ)?
Balance-sheet figures for Grenke AG (as of Nov 6, 2026): return on equity 5.5%, debt of 3.22 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is GLJ from its 52-week high?
Grenke AG trades at €10.26, about 34% below its 52-week high of €15.47 and 5% above the low of €9.73 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €20.53 is for.
Which stocks are comparable to Grenke AG?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial 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 Grenke AG stock attractive at the current price?
The data as of Nov 6, 2026: price €10.26, calculated fair value €20.53 (+100%), Quality Score 43/100, from 7 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 GLJ calculated?
We run Grenke AG through 7 models from 5 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of €20.53 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 13.0% above its aggregate fair value. Grenke AG currently trades 50% 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 Grenke AG (GLJ)?
The closing price on Nov 6, 2026 was €10.26. Our model-based fair value is €20.53, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Grenke AG right now?
The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (€15.40). The market is more pessimistic than our downside scenario. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Grenke AG (GLJ) come from?
Earnings per share at Grenke AG grew −0.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share −8.5 %, EBIT margin +6.6 %, tax rate +0.5 %, residual (interest, one-offs) +1.1 %. 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 Grenke AG
How large is the market capitalisation of Grenke AG (GLJ)?
The market capitalisation of Grenke AG is €453M. 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 Grenke AG (GLJ)?
The price-to-sales ratio of Grenke AG is 0.73 (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 Grenke AG (GLJ)?
Earnings per share at Grenke AG are €1.35 (price ÷ EPS = P/E 7.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Grenke AG (GLJ)?
The dividend yield of Grenke AG is 4.1% (payout 31.1%). 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 Grenke AG (GLJ)?
The net margin of Grenke AG is 10.5% (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 Grenke AG (GLJ)?
The return on equity (ROE) of Grenke AG is 5.5% (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 Grenke AG (GLJ)?
On an EBIT basis the return on assets of Grenke AG is 1.4% (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 Grenke AG (GLJ)?
The operating margin of Grenke AG is 13.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Grenke AG (GLJ)?
Revenue at Grenke AG is growing +11.7% versus a year earlier (3y avg +13.7%). 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 Grenke AG (GLJ)?
Earnings per share at Grenke AG are growing +2.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Grenke AG (GLJ) generate?
The free cash flow of Grenke AG is −€257M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Grenke AG (GLJ) carry?
The net debt of Grenke AG is €6.8B (fiscal year 2025). 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 6, 2026