Serviceware SE (SJJ) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Serviceware SE stock €4.85, price €14.15, that is 65.7% below the price, quality 53 out of 100. Rating: strongly overvalued. Calculated from audited financials with 21 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 €5.88 – €20.00 · fair‑value band €3.31 – €6.06 · the €14.15 price screens above the €4.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Serviceware SE provides a portfolio of software solutions for the digitalization and automation of service processes in Germany, Austria, Switzerland, and internationally.
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The company offers IT financial and cloud cost management, and digital value model for TBM; corporate performance management, including planning, budgeting, forecasting, business intelligence and analytics, and project performance management; and enterprise service management comprising IT, HR, and field service management, as well as information security, transformation management, IT architecture and sourcing, digitalization, and operational excellence services.
It also provides customer service management, knowledge management, and AI chatbot; and Artifical Intelligence solutions.
Additionally, the company offers software licensing, maintenances and services, consulting and implementation, and managed services, as well as IT infrastructure solutions and integrated ESM solutions. Serviceware SE was founded in 1998 and is headquartered in Idstein, Germany.
Stock analysis
Serviceware SE (SJJ) currently trades at €14.15, while our model-based Fair Value estimate is €4.85, 66% 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 €7.90 per share, and 0 of the 21 models we run sit above the €14.15 price.
Bear case: the Asset-Based group reads lowest at €1.32, and 21 of the 21 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €3.31 (bear) to €6.06 (bull), the price of €14.15 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 53/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Serviceware SE reported revenue of €115M in FY2025 versus €81.3M in FY2021, a compound +9.1%/yr. Reported net income was €1.8M in FY2025.
Key figures
Market cap €149M Micro · P/E ratio 59.0 · P/S ratio 1.18 · EPS (TTM) €0.2400 · Net margin 2.1% · Return on equity 4.5% · Return on assets (EBIT) −2.3% (5-year average) · Operating margin 3.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 40% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −66%, SJJ screens richer than that median.
Fair Value models
Bear€3.31Fair Value €4.85Bull€6.06
Price €14.15 · Downside -65.7%
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 11 months old). Earnings retained since then (€0.2262 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.75/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+11.7%
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.
+11.5%
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.
+9.7%
Start year 2020 (pandemic). Over 10 years: +11.3% a year
Revenue growth 10 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.
+11.3%
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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.
−3.4% (2020) → −0.3% (2025)
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).
+26.9%
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 +24.2% 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.Software - Application · 628 stocks
Beats the industry median on 2/12 measures
Overall it trails its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside−65.7% · Bottom 25%
Profitability
Return on equity (12 months)4.5% · Below median
Return on assets1.1% · Below median
Net margin (12 months)2.1% · Below median
Operating margin (12 months)3.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)10.5% · Above median
Valuation Multiplesvs Software - Application 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). "Serviceware SE Fair Value". https://www.fairvalue-calculator.com/stock/SJJ
Frequently asked questions
Is Serviceware SE (SJJ) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of €4.85 versus a price of €14.15, about 66% lower (overvalued).
What is the fair value of SJJ?
Our model-based fair value for Serviceware SE is €4.85 (as of Nov 9, 2026), built from audited fundamentals. The current price: €14.15.
What is the quality score of SJJ?
Serviceware SE has a Quality Score of 53/100. 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 Serviceware SE (SJJ)?
Our model-based price target is the fair value of €4.85 (as of Nov 9, 2026) from 21 valuation models. Cautious scenario €3.31, optimistic scenario €6.06. It is a calculation from audited fundamentals, not an analyst target.
What is the Serviceware SE stock forecast for 2026?
Our models put fair value at €4.85, about 66% lower versus a price of €14.15 (overvalued). Cautious scenario €3.31, optimistic scenario €6.06. The calculation is refreshed regularly with new filings.
What is the revenue of Serviceware SE (SJJ)?
Serviceware SE reported trailing-twelve-month revenue of about €126M (latest available figure, as of Nov 9, 2026).
What growth is priced into Serviceware SE (SJJ)?
For today's price to be fair in a discounted-cash-flow model, Serviceware SE would have to grow free cash flow by +26.9 % per year for five years (discount rate 12.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.8 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of SJJ use?
Our models discount Serviceware SE at 12.7 %: a base by market capitalisation (micro), damped by beta 1.07, 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 Serviceware SE that is +26.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.7 %) and the same formula as our fair value.
How much growth has Serviceware SE (SJJ) delivered so far?
Over the past 5 years revenue at Serviceware SE grew +9.8 % a year. The price currently implies free-cash-flow growth of +26.9 % 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 Serviceware SE (SJJ) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Serviceware SE (+26.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Serviceware SE (SJJ)?
The free-cash-flow yield on the price is 2.46 %: that much free cash flow Serviceware SE produces per unit of market value. When it exceeds the discount rate of our models (12.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Serviceware SE (SJJ)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Serviceware SE it is €4.85 per share (as of Nov 9, 2026), against a price of €14.15. It is the blended result of 21 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Serviceware SE stock overvalued or undervalued in 2026?
As of Nov 9, 2026, SJJ trades above its calculated fair value: price €14.15, fair value €4.85, a gap of about −66% (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 SJJ?
No. The price is what the market pays today (€14.15); the fair value is what the company's own numbers justify (€4.85). For Serviceware SE the two are €9.30 per share apart. That gap is exactly why we show both numbers side by side.
How much is Serviceware SE worth?
The market values Serviceware SE at about €149M (market capitalisation, as of Nov 9, 2026). Per share that is €14.15; our models calculate a fair value of €4.85 per share.
What do the bullish and bearish scenarios say about SJJ?
Our models span a range for Serviceware SE: cautious scenario €3.31, base €4.85, optimistic €6.06 per share (as of Nov 9, 2026, price €14.15). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SJJ?
Serviceware SE trades at a price-to-earnings ratio of 59.0 (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 €4.85 is built from several models across several years. Other multiples: P/B 3.1, P/S 1.2, EV/EBITDA 29.7.
How solid is the balance sheet of Serviceware SE (SJJ)?
Balance-sheet figures for Serviceware SE (as of Nov 9, 2026): return on equity 4.5%. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is SJJ from its 52-week high?
Serviceware SE trades at €14.15, about 25% below its 52-week high of €18.90 and 40% above the low of €10.10 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €4.85 is for.
Which stocks are comparable to Serviceware SE?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, 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 Serviceware SE stock attractive at the current price?
The data as of Nov 9, 2026: price €14.15, calculated fair value €4.85 (−66%), Quality Score 53/100, from 21 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 SJJ calculated?
We run Serviceware SE through 21 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €4.85 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. Serviceware SE 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 Serviceware SE (SJJ)?
The closing price on Nov 6, 2026 was €14.15. Our model-based fair value is €4.85, about 66% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Serviceware SE right now?
The price sits above even our optimistic bull case (€6.06). The favourable scenario is already priced in. Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (€3.31 to €6.06) leaves room in how you read the outcome.
Key figures of Serviceware SE
How large is the market capitalisation of Serviceware SE (SJJ)?
The market capitalisation of Serviceware SE is €149M. 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 Serviceware SE (SJJ)?
The price-to-sales ratio of Serviceware SE is 1.18 (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 Serviceware SE (SJJ)?
Earnings per share at Serviceware SE are €0.2400 (price ÷ EPS = P/E 59.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Serviceware SE (SJJ)?
The net margin of Serviceware SE is 2.1% (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 Serviceware SE (SJJ)?
The return on equity (ROE) of Serviceware SE is 4.5% (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 Serviceware SE (SJJ)?
On an EBIT basis the return on assets of Serviceware SE is −2.3% (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 Serviceware SE (SJJ)?
The operating margin of Serviceware SE is 3.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Serviceware SE (SJJ)?
Revenue at Serviceware SE is growing +10.5% versus a year earlier (3y avg +11.5%). 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 Serviceware SE (SJJ)?
Earnings per share at Serviceware SE are growing +90.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Serviceware SE (SJJ) carry?
The net debt of Serviceware SE is €16.0M (fiscal year 2025, ≈ 4.4 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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Some data
Nov 9, 2026