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SMT Scharf AG (S188) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of SMT Scharf AG stock €12.22, price €4.78, upside +155.6%, quality 54 out of 100. Rating: strongly undervalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.

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Industrials DE · ISIN DE000A3DRAE2

SS SMT Scharf AG logo Some data Nov 3, 2026

SMT Scharf AG

S188 · XETRA
Undervalued, but in a downtrend

The stock costs 61% less than our calculation considers fair.

Fair value €12.22 · Strongly undervalued
Generates free cash flow
Even on cautious assumptions the value is 95% above the price (€9.34).
Quality 54/100
Mixed Growth (revenue 5y +15.5 %/yr in EUR)
Mixed vs. peers (6/12)
Some data
Loss-making · -10.5% net margin (TTM)
Narrow moat 13/100 · thin data
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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

€15.44 €4.78 Fair Value €12.22 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.

How to read this chart

60‑month range €4.78 – €15.44 · fair‑value band €9.34 – €15.10 · the €4.78 price screens below the €12.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 3, 2026.

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Company profile

SMT Scharf AG engages in the development, manufacture, and service of transportation equipment and logistics systems for underground mining and tunnel construction. The company operates through four segments: Coal Mining, Mineral Mining, Tunnel Logistics, and Other Industries.

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It offers monorail and duorail systems, chairlift systems, segment cranes, lifting devices, explosive and placement devices, drilling and splitting tools, construction site cranes, battery and diesel locomotives, muckmasters, lift working platform, cable drive, mini climbers, light electric vehicles, and climbing locomotive products.

The company's products are primarily used in hard coal, gold, platinum, copper, nickel, and salt mining activities. It has operations in Germany, Russia and rest of CIS states, Poland, China, Africa, the United States, and internationally.

The company was founded in 1941 and is headquartered in Hamm, Germany. SMT Scharf AG operates as a subsidiary of Yankuang Energy Group Company Limited.

Stock analysis

SMT Scharf AG (S188) currently trades at €4.78, while our model-based Fair Value estimate is €12.22, implying the stock looks roughly 61% undervalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of €38.69 per share, and 13 of the 13 models we run sit above the €4.78 price.

Bear case: the Earnings-Based group reads lowest at €7.49, and 0 of the 13 models stay below the price. Data coverage for this calculation is medium.

Scenario range: €9.34 (bear) to €15.10 (bull), the price of €4.78 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 54/100 (solid quality), in the Industrials sector.

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

SMT Scharf AG reported revenue of €103M in FY2025 versus €85.9M in FY2021, a compound +4.6%/yr. Reported net income was −€4.4M in FY2025.

Key figures

Market cap €26.2M Micro · P/S ratio 0.32 · EPS (TTM) €−1.43 · Dividend yield 4.2% · Net margin −10.5% · Return on equity −3.2% · Return on assets (EBIT) 5.6% (5-year average) · Operating margin −9.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 13 out of 100 (low confidence).

What moves the price

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

For context, the median of 10 Industrials peers we cover trades at −19% fair-value upside, at 156%, S188 screens cheaper than that median.

Fair Value models

Bear €9.34 Fair Value €12.22 Bull €15.10
Price €4.78 · Upside +155.6%
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.
Best data coverage
FCF DCF €35.39 €55.96 €90.17 77
Growth DCF €36.01 €54.21 €82.56 75
5Y EBITDA Exit €21.52 €29.74 €39.09 73
All 13 models by family
DCF Models
FCF DCF €35.39 €55.96 €90.17 77
5Y Revenue Exit €17.82 €22.73 €28.54 71
5Y EBITDA Exit €21.52 €29.74 €39.09 73
10Y Revenue Exit €23.31 €29.38 €36.86 66
10Y EBITDA Exit €25.95 €34.44 €45.27 67
Earnings-Based
EPV €6.87 €7.49 €8.05 70
Multiples
EV/EBIT €9.34 €12.22 €15.10 63
EV/EBITDA €13.43 €17.67 €21.91 64
EV/Revenue €6.88 €9.51 €12.15 51
Asset-Based
NCAV (Graham) €7.71 €11.68 €14.60 52
Growth DCF
Growth DCF €36.01 €54.21 €82.56 75
Rev-Margin DCF €17.82 €23.16 €29.59 71
Economic Profit
ROIC Compounder €6.87 €7.49 €8.05 70

Open the full fair value analysis →

Quality Score breakdown

Overall quality 54/100

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

Profitability 14
How much profit the company makes from its sales and capital
Quality Growth 34
Are margins and returns getting better?
Cashflow 70
Do the profits arrive as real cash?
Financial strength 62
Debt, balance sheet and risk of trouble
Investment 90
Does it invest with discipline instead of growing at any price?
Low Volatility 72
How calm the share price moves, does not count
Price momentum 15
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 82
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. 59/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+8.3%
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.
+3.2%
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.
+15.5%
Start year 2020 (pandemic). Over 10 years: +7.4% a year
Revenue growth 20 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.
+3.5%
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.
−16.2% (2020) → 3.6% (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

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Compare SMT Scharf AG with another stock

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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.Railroads · 108 stocks

Beats the industry median on 6/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 54 · Below median
Fair Value upside +155.6% · Top 25%
Profitability
Return on assets −2.9% · Bottom 25%
Net margin (12 months) −10.5% · Bottom 25%
Operating margin (12 months) −9.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −30.0% · Bottom 25%
Dividend yield (12 months) 4.2% · Top 25%

Valuation Multiplesvs Railroads median · lower = cheaper

P/B 0.31× · Cheapest 25%
P/S (12 months) 0.30× · Cheapest 25%
Price / free cash flow (fiscal year) 1.9× · Cheapest 25%
EV/EBITDA 5.6× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 18
FUTURE (revenue growth)0 · sector 20
PAST (return on equity)0 · sector 30
HEALTH (low debt)0 · sector 91
DIVIDEND (yield)84 · sector 42

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 Railroads stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
CRRC Corporation 601766 ¥6.55 ¥9.21 +41% vs S188
Beijing-Shanghai High-Speed Railway Co 601816 ¥5.36 ¥5.84 +9% vs S188
Westinghouse Air Brake Technologies Corporation WAB $283.59 $290.92 +3% vs S188
Daqin Railway Co 601006 ¥4.88 ¥4.66 −5% vs S188
Canadian National Railway Company CNI $124.06 $100.13 −19% vs S188
Union Pacific Corporation UNP $290.16 $153.89 −47% vs S188
Getlink SE GET €20.22 €10.47 −48% vs S188
Norfolk Southern Corporation NSC $319.94 $132.55 −59% vs S188
Canadian Pacific Kansas City Limited CP $92.17 $38.04 −59% vs S188
CSX Corporation CSX $49.12 $12.92 −74% vs S188

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SMT Scharf AG: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "SMT Scharf AG Fair Value". https://www.fairvalue-calculator.com/stock/S188

Frequently asked questions

Is SMT Scharf AG (S188) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of €12.22 versus a price of €4.78, about +156% upside (undervalued).
What is the fair value of S188?
Our model-based fair value for SMT Scharf AG is €12.22 (as of Nov 3, 2026), built from audited fundamentals. The current price: €4.78.
What is the quality score of S188?
SMT Scharf 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 SMT Scharf AG (S188)?
Our model-based price target is the fair value of €12.22 (as of Nov 3, 2026) from 13 valuation models. Cautious scenario €9.34, optimistic scenario €15.10. It is a calculation from audited fundamentals, not an analyst target.
What is the SMT Scharf AG stock forecast for 2026?
Our models put fair value at €12.22, about +156% upside versus a price of €4.78 (undervalued). Cautious scenario €9.34, optimistic scenario €15.10. The calculation is refreshed regularly with new filings.
What is the revenue of SMT Scharf AG (S188)?
SMT Scharf AG reported trailing-twelve-month revenue of about €86.3M (latest available figure, as of Nov 3, 2026).
Does SMT Scharf AG pay a dividend?
SMT Scharf AG currently shows a dividend yield of 4.20% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of SMT Scharf AG (S188)?
SMT Scharf AG has a dividend yield of 4.2%.
What is the intrinsic value of SMT Scharf AG (S188)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SMT Scharf AG it is €12.22 per share (as of Nov 3, 2026), against a price of €4.78. It is the blended result of 13 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is SMT Scharf AG stock overvalued or undervalued in 2026?
As of Nov 3, 2026, S188 trades below its calculated fair value: price €4.78, fair value €12.22, a gap of about +156% (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 S188?
No. The price is what the market pays today (€4.78); the fair value is what the company's own numbers justify (€12.22). For SMT Scharf AG the two are €7.44 per share apart. That gap is exactly why we show both numbers side by side.
How much is SMT Scharf AG worth?
The market values SMT Scharf AG at about €26.2M (market capitalisation, as of Nov 3, 2026). Per share that is €4.78; our models calculate a fair value of €12.22 per share.
What do the bullish and bearish scenarios say about S188?
Our models span a range for SMT Scharf AG: cautious scenario €9.34, base €12.22, optimistic €15.10 per share (as of Nov 3, 2026, price €4.78). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of SMT Scharf AG (S188)?
Balance-sheet figures for SMT Scharf AG (as of Nov 3, 2026): return on equity −3.2%. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is S188 from its 52-week high?
SMT Scharf AG trades at €4.78, about 47% below its 52-week high of €9.05 and at the low of €4.78 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €12.22 is for.
Which stocks are comparable to SMT Scharf AG?
From the same area (Industrials) we also value Union Pacific Corporation, CSX Corporation, Canadian Pacific Kansas City Limited, Norfolk Southern 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 SMT Scharf AG stock attractive at the current price?
The data as of Nov 3, 2026: price €4.78, calculated fair value €12.22 (+156%), Quality Score 54/100, from 13 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 S188 calculated?
We run SMT Scharf AG through 13 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of €12.22 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. SMT Scharf AG currently trades 61% 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 SMT Scharf AG (S188)?
The closing price on Nov 6, 2026 was €4.78. Our model-based fair value is €12.22, about +156% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SMT Scharf AG right now?
The price is below even our cautious bear case (€9.34). The market is more pessimistic than our downside scenario. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of SMT Scharf AG (S188) come from?
Earnings per share at SMT Scharf AG grew +16.9 % a year from 2015 to 2025. Broken into its drivers: revenue per share +4.3 %, EBIT margin −1.3 %, tax rate +6.0 %, residual (interest, one-offs) +7.1 %. 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 SMT Scharf AG

How large is the market capitalisation of SMT Scharf AG (S188)?
The market capitalisation of SMT Scharf AG is €26.2M. 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 SMT Scharf AG (S188)?
The price-to-sales ratio of SMT Scharf AG is 0.32 (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 SMT Scharf AG (S188)?
Earnings per share at SMT Scharf AG are €−1.43. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SMT Scharf AG (S188)?
The dividend yield of SMT Scharf AG is 4.2%. 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 SMT Scharf AG (S188)?
The net margin of SMT Scharf 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 SMT Scharf AG (S188)?
The return on equity (ROE) of SMT Scharf AG is −3.2% (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 SMT Scharf AG (S188)?
On an EBIT basis the return on assets of SMT Scharf AG is 5.6% (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 SMT Scharf AG (S188)?
The operating margin of SMT Scharf AG is −9.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SMT Scharf AG (S188)?
Revenue at SMT Scharf AG is growing −30.0% versus a year earlier (3y avg +3.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does SMT Scharf AG (S188) generate?
The free cash flow of SMT Scharf AG is €13.5M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does SMT Scharf AG (S188) hold?
SMT Scharf AG holds more cash than debt, €3.9M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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