Nebag ag (NBEN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Nebag ag stock CHF 5.77, price CHF 6.35, that is 9.1% below the price, quality 74 out of 100. Rating: overvalued. Calculated from audited financials with 2 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 9, 2026.
How to read this chart
60‑month range CHF 5.43 – CHF 7.88 · fair‑value band CHF 4.33 – CHF 7.21 · the CHF 6.35 price screens above the CHF 5.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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nebag ag is a publicly owned investment manager. The firm provides its services to Institutional and private investors. It invests in in Switzerland or in neighboring countries. nebag ag is based in Zurich, Switzerland.
Stock analysis
Nebag ag (NBEN) currently trades at CHF 6.35, while our model-based Fair Value estimate is CHF 5.77, 9% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 2 models at a data quality of 96/100, which puts the data coverage at medium.
Scenario range: CHF 4.33 (bear) to CHF 7.21 (bull), the price of CHF 6.35 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 74/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue growth is weak, negative or inconsistent.
Nebag ag reported revenue of CHF 1.5M in FY2025 versus CHF 9.8M in FY2021, a compound −38.0%/yr. Reported net income was CHF 428K in FY2025, compounding −50.6%/yr from FY2021.
Key figures
Market cap CHF 58.0M Micro · P/E ratio 18.1 · P/S ratio 5.33 · EPS (TTM) CHF 0.3500 · Dividend yield 4.7% · Net margin 29.4% · Return on equity 5.1% · Return on assets (EBIT) −1.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 63 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 17% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at −9%, NBEN screens cheaper than that median.
Fair Value models
BearCHF 4.33Fair Value CHF 5.77BullCHF 7.21
Price CHF 6.35 · Downside -9.1%
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 (CHF 0.0429 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 weak, negative or inconsistent.
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.
−37.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−42.5%
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.−42.5% vs −23.4%, slowing
Profit margin 2019 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.84% → 37%
Pace: the 5-year rate starts in 2020 (pandemic)
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).
+39.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Switzerland: IMF forecast 0.6% a year to 2030, 0.8% from 2016 to 2025) that is about +38.3% 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.Asset Management · 587 stocks
Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score74 · Top 25%
Fair Value upside−9.1% · Below median
Profitability
Return on equity (12 months)5.1% · Below median
Return on assets0.7% · Below median
Net margin (12 months)29.4% · Below median
Operating margin (12 months)47.1% · Above median
Growth and dividend
Revenue growth (quarter YoY)−4.8% · Below median
Dividend yield (12 months)4.7% · Above median
Valuation Multiplesvs Asset Management 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). "Nebag ag Fair Value". https://www.fairvalue-calculator.com/stock/NBEN
Frequently asked questions
Is Nebag ag (NBEN) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of CHF 5.77 versus a price of CHF 6.35, about 9% lower (overvalued).
What is the fair value of NBEN?
Our model-based fair value for Nebag ag is CHF 5.77 (as of Nov 9, 2026), built from audited fundamentals. The current price: CHF 6.35.
What is the quality score of NBEN?
Nebag ag has a Quality Score of 74/100. 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 Nebag ag (NBEN)?
Our model-based price target is the fair value of CHF 5.77 (as of Nov 9, 2026) from 2 valuation models. Cautious scenario CHF 4.33, optimistic scenario CHF 7.21. It is a calculation from audited fundamentals, not an analyst target.
What is the Nebag ag stock forecast for 2026?
Our models put fair value at CHF 5.77, about 9% lower versus a price of CHF 6.35 (overvalued). Cautious scenario CHF 4.33, optimistic scenario CHF 7.21. The calculation is refreshed regularly with new filings.
What is the revenue of Nebag ag (NBEN)?
Nebag ag reported trailing-twelve-month revenue of about CHF 1.4M (latest available figure, as of Nov 9, 2026).
Does Nebag ag pay a dividend?
Nebag ag currently shows a dividend yield of 4.72% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Nebag ag (NBEN) and when is the ex-dividend date?
Nebag ag pays a dividend of CHF 0.3 per share a year, a dividend yield of 4.7%. The last ex-dividend date was Jun 2, 2026. A dividend has been paid every year since 2012. The payout ratio is 85.7% of earnings. Free cash flow covers the dividend 0.15 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Nebag ag (NBEN)?
For today's price to be fair in a discounted-cash-flow model, Nebag ag would have to grow free cash flow by +39.1 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 6 years revenue grew -25.3 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of NBEN use?
Our models discount Nebag ag at 11.0 %: a base by market capitalisation (micro), damped by beta 0.14, country premium for Switzerland. 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 Nebag ag that is +39.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Nebag ag (NBEN) delivered so far?
Over the past 6 years revenue at Nebag ag grew -25.3 % a year. The price currently implies free-cash-flow growth of +39.1 % 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 Nebag ag (NBEN) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Nebag ag (+39.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Nebag ag (NBEN)?
The free-cash-flow yield on the price is 0.70 %: that much free cash flow Nebag ag produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nebag ag (NBEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nebag ag it is CHF 5.77 per share (as of Nov 9, 2026), against a price of CHF 6.35. It is the blended result of 2 valuation models in 2 families (Multiples, Asset-Based).
Is Nebag ag stock overvalued or undervalued in 2026?
As of Nov 9, 2026, NBEN trades above its calculated fair value: price CHF 6.35, fair value CHF 5.77, a gap of about −9% (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 NBEN?
No. The price is what the market pays today (CHF 6.35); the fair value is what the company's own numbers justify (CHF 5.77). For Nebag ag the two are CHF 0.5800 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nebag ag worth?
The market values Nebag ag at about CHF 58.0M (market capitalisation, as of Nov 9, 2026). Per share that is CHF 6.35; our models calculate a fair value of CHF 5.77 per share.
What do the bullish and bearish scenarios say about NBEN?
Our models span a range for Nebag ag: cautious scenario CHF 4.33, base CHF 5.77, optimistic CHF 7.21 per share (as of Nov 9, 2026, price CHF 6.35). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NBEN?
Nebag ag trades at a price-to-earnings ratio of 18.1 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 5.77 is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2016 to 2025), reported earnings: 12.9.
How solid is the balance sheet of Nebag ag (NBEN)?
Balance-sheet figures for Nebag ag (as of Nov 9, 2026): return on equity 5.1%. They feed the Quality Score of 74/100, which measures business quality independently of the share price.
How far is NBEN from its 52-week high?
Nebag ag trades at CHF 6.35, about 4% below its 52-week high of CHF 6.60 and 17% above the low of CHF 5.43 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 5.77 is for.
Which stocks are comparable to Nebag ag?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Asset Management Ltd, KKR & Co, 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 Nebag ag stock attractive at the current price?
The data as of Nov 9, 2026: price CHF 6.35, calculated fair value CHF 5.77 (−9%), Quality Score 74/100, from 2 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 NBEN calculated?
We run Nebag ag through 2 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of CHF 5.77 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. Nebag 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 Nebag ag (NBEN)?
The closing price on Nov 6, 2026 was CHF 6.35. Our model-based fair value is CHF 5.77, about 9% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nebag ag right now?
For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Nebag ag
How large is the market capitalisation of Nebag ag (NBEN)?
The market capitalisation of Nebag ag is CHF 58.0M. 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 Nebag ag (NBEN)?
The price-to-sales ratio of Nebag ag is 5.33 (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 Nebag ag (NBEN)?
Earnings per share at Nebag ag are CHF 0.3500 (price ÷ EPS = P/E 18.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nebag ag (NBEN)?
The dividend yield of Nebag ag is 4.7% (payout 85.7%). 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 Nebag ag (NBEN)?
The net margin of Nebag ag is 29.4% (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 Nebag ag (NBEN)?
The return on equity (ROE) of Nebag ag is 5.1% (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 Nebag ag (NBEN)?
On an EBIT basis the return on assets of Nebag ag is −1.8% (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 Nebag ag (NBEN)?
The operating margin of Nebag ag is 47.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nebag ag (NBEN)?
Revenue at Nebag ag is growing −4.8% 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 Nebag ag (NBEN)?
Earnings per share at Nebag ag are growing +10.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Nebag ag (NBEN) hold?
Nebag ag holds more cash than debt, CHF 12.0M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 9, 2026