LS telcom AG (LSX) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of LS telcom AG stock €2.29, price €3.48, that is 34.2% below the price, quality 54 out of 100. Rating: overvalued. Calculated from audited financials with 20 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 3, 2026.
How to read this chart
60‑month range €2.78 – €9.20 · fair‑value band €1.72 – €2.94 · the €3.48 price screens above the €2.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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LS telcom AG provides software, IT system, hardware, planning, and consultancy services for optimal spectrum use worldwide.
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The company offers its products in the areas of spectrum policy, licensing, and management; spectrum operation and monitoring; electronic warfare; radio communications and private networks; network planning tools; and airborne measurements.
LS telcom AG serves customers in the spectrum regulation, public safety, public transportation, railways, airports, ports and hubs, industries, oil and gas, utilities, defense and security, smart healthcare, mobile network operators, and broadcast industries.
The company was founded in 1992 and is headquartered in Lichtenau, Germany.
Stock analysis
LS telcom AG (LSX) currently trades at €3.48, while our model-based Fair Value estimate is €2.29, 34% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €2.97 per share, and 4 of the 20 models we run sit above the €3.48 price.
Bear case: the Earnings-Based group reads lowest at €1.56, and 16 of the 20 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €1.72 (bear) to €2.94 (bull), the price of €3.48 sits above 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 54/100 (solid quality), in the Communication Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
LS telcom AG reported revenue of €36.6M in FY2025 versus €31.6M in FY2021, a compound +3.7%/yr. Reported net income was €782K in FY2025.
Key figures
Market cap €20.2M Micro · P/E ratio 58.0 · P/S ratio 0.50 · EPS (TTM) €0.0600 · Net margin 0.9% · Return on equity 2.9% · Return on assets (EBIT) 1.9% (5-year average) · Operating margin −4.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 26 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 51% fair-value upside, at −34%, LSX screens richer than that median.
Fair Value models
Bear€1.72Fair Value €2.29Bull€2.94
Price €3.48 · Downside -34.2%
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 2025 figures (about 12 months old). Earnings retained since then (€0.0600 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−0.9%
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.
−8.2%
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.
+7.2%
Start year 2020 (pandemic). Over 10 years: +0.2% a year
Revenue growth 17 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.
+6.4%
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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.
−16.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−16.4%
Dividend (yield on the price)0.0%
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.−16.4% 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.−4% → 3%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 1.6%/yr over ~10Y (margins eroding too) ⓘ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.
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+11.1%
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 +8.8% a year for the price.
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.Telecom Services · 234 stocks
Beats the industry median on 2/12 measures
Overall it trails its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−34.2% · Bottom 25%
Profitability
Return on equity (12 months)2.9% · Below median
Return on assets2.0% · Below median
Net margin (12 months)0.9% · Below median
Operating margin (12 months)−4.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−2.5% · Bottom 25%
Balance sheet
Debt / equity0.57× · Above median
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/E (12 months)58.0× · Priciest 25%
P/B1.35× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
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). "LS telcom AG Fair Value". https://www.fairvalue-calculator.com/stock/LSX.XETRA
Frequently asked questions
Is LS telcom AG (LSX) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of €2.29 versus a price of €3.48, about 34% lower (overvalued).
What is the fair value of LSX?
Our model-based fair value for LS telcom AG is €2.29 (as of Nov 3, 2026), built from audited fundamentals. The current price: €3.48.
What is the quality score of LSX?
LS telcom AG has a Quality Score of 54/100. 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 LS telcom AG (LSX)?
Our model-based price target is the fair value of €2.29 (as of Nov 3, 2026) from 20 valuation models. Cautious scenario €1.72, optimistic scenario €2.94. It is a calculation from audited fundamentals, not an analyst target.
What is the LS telcom AG stock forecast for 2026?
Our models put fair value at €2.29, about 34% lower versus a price of €3.48 (overvalued). Cautious scenario €1.72, optimistic scenario €2.94. The calculation is refreshed regularly with new filings.
What is the revenue of LS telcom AG (LSX)?
LS telcom AG reported trailing-twelve-month revenue of about €40.0M (latest available figure, as of Nov 3, 2026).
What growth is priced into LS telcom AG (LSX)?
For today's price to be fair in a discounted-cash-flow model, LS telcom AG would have to grow free cash flow by +11.1 % 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 +7.2 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of LSX use?
Our models discount LS telcom AG at 8.3 %: a base by market capitalisation (nano), damped by beta 0.33, 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 LS telcom AG that is +11.1 % 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 LS telcom AG (LSX) delivered so far?
Over the past 5 years revenue at LS telcom AG grew +7.2 % a year. The price currently implies free-cash-flow growth of +11.1 % 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 LS telcom AG (LSX) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into LS telcom AG (+11.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of LS telcom AG (LSX)?
The free-cash-flow yield on the price is 4.40 %: that much free cash flow LS telcom 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 LS telcom AG (LSX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For LS telcom AG it is €2.29 per share (as of Nov 3, 2026), against a price of €3.48. It is the blended result of 20 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is LS telcom AG stock overvalued or undervalued in 2026?
As of Nov 3, 2026, LSX trades above its calculated fair value: price €3.48, fair value €2.29, a gap of about −34% (overvalued). 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 LSX?
No. The price is what the market pays today (€3.48); the fair value is what the company's own numbers justify (€2.29). For LS telcom AG the two are €1.19 per share apart. That gap is exactly why we show both numbers side by side.
How much is LS telcom AG worth?
The market values LS telcom AG at about €20.2M (market capitalisation, as of Nov 3, 2026). Per share that is €3.48; our models calculate a fair value of €2.29 per share.
What do the bullish and bearish scenarios say about LSX?
Our models span a range for LS telcom AG: cautious scenario €1.72, base €2.29, optimistic €2.94 per share (as of Nov 3, 2026, price €3.48). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LSX?
LS telcom AG trades at a price-to-earnings ratio of 58.0 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €2.29 is built from several models across several years. Other multiples: P/B 1.4, P/S 0.5, EV/EBITDA 12.0.
How solid is the balance sheet of LS telcom AG (LSX)?
Balance-sheet figures for LS telcom AG (as of Nov 3, 2026): return on equity 2.9%, debt of 0.57 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is LSX from its 52-week high?
LS telcom AG trades at €3.48, about 18% below its 52-week high of €4.24 and at the low of €3.48 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €2.29 is for.
Which stocks are comparable to LS telcom AG?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T 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 LS telcom AG stock attractive at the current price?
The data as of Nov 3, 2026: price €3.48, calculated fair value €2.29 (−34%), Quality Score 54/100, from 20 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 LSX calculated?
We run LS telcom AG through 20 models from 6 families: DCF Models, Earnings-Based, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €2.29 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 13.3% above its aggregate fair value. LS telcom 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 LS telcom AG (LSX)?
The closing price on Nov 6, 2026 was €3.48. Our model-based fair value is €2.29, about 34% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with LS telcom AG right now?
The price sits above even our optimistic bull case (€2.94). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of LS telcom AG
How large is the market capitalisation of LS telcom AG (LSX)?
The market capitalisation of LS telcom AG is €20.2M. 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 LS telcom AG (LSX)?
The price-to-sales ratio of LS telcom AG is 0.50 (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 LS telcom AG (LSX)?
Earnings per share at LS telcom AG are €0.0600 (price ÷ EPS = P/E 58.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of LS telcom AG (LSX)?
The net margin of LS telcom AG is 0.9% (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 LS telcom AG (LSX)?
The return on equity (ROE) of LS telcom AG is 2.9% (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 LS telcom AG (LSX)?
On an EBIT basis the return on assets of LS telcom AG is 1.9% (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 LS telcom AG (LSX)?
The operating margin of LS telcom AG is −4.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at LS telcom AG (LSX)?
Revenue at LS telcom AG is growing −2.5% versus a year earlier (3y avg −8.2%). 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 LS telcom AG (LSX)?
Earnings per share at LS telcom AG are growing −90.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does LS telcom AG (LSX) carry?
The net debt of LS telcom AG is €5.0M (fiscal year 2025, ≈ 5.7 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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Nov 3, 2026