Logwin AG (TGHN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Logwin AG stock €328, price €292, upside +12.3%, quality 68 out of 100. Rating: undervalued. Calculated from audited financials with 24 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 7, 2026.
How to read this chart
60‑month range €105.12 – €296.00 · fair‑value band €246.04 – €410.07 · the €292.00 price screens below the €328.05 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Logwin AG provides logistics and transport solutions in Germany, Austria, rest of European Union, the Asia/Pacific, and internationally. It operates in two segments, Air + Ocean and Solution.
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The Air + Ocean segment offers logistics and forwarding solutions, such as intercontinental air and ocean freight, and upstream and downstream value-added services.
The Solutions segment is involved in contract logistics and supply chain management; develops customized logistics solutions for companies in the consumer goods, retail, and fashion sectors, as well as for industrial contract logistics, including chemicals and hazardous goods.
This segment also provides supply chain services comprising transport and freight forwarding solutions, warehousing, value added logistics services, and the implementation of outsourcing projects.
In addition, the company offers project logistics, air charter OBC, ship parts logistics, and China rail services. It serves Industrial engineering, automotive, chemicals, electronics and high tech, FMCG, pharma, healthcare, medical devices, and food and wine logistics industries.
Logwin AG was founded in 1877 and is headquartered in Grevenmacher, Luxembourg. Logwin AG operates as a subsidiary of DELTON Logistics S.á r.l.
Stock analysis
Logwin AG (TGHN) currently trades at €292.00, while our model-based Fair Value estimate is €328.05, implying the stock looks roughly 11% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of €513.57 per share, and 18 of the 24 models we run sit above the €292.00 price.
Bear case: the Asset-Based group reads lowest at €69.18, and 6 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: €246.04 (bear) to €410.07 (bull), the price of €292.00 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 68/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Logwin AG reported revenue of €1.4B in FY2025 versus €1.9B in FY2021, a compound −7.4%/yr. Reported net income was €60.9M in FY2025, compounding −0.8%/yr from FY2021.
Key figures
Market cap €841M Small · P/E ratio 14.8 · P/S ratio 0.60 · EPS (TTM) €19.76 · Dividend yield 4.4% · Net margin 4.0% · Return on equity 15.4% · Return on assets (EBIT) 12.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 29% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −36% fair-value upside, at 12%, TGHN screens cheaper than that median.
Fair Value models
Bear€246.04Fair Value €328.05Bull€410.07
Price €292.00 · Upside +12.3%
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 (€5.95 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.
Best data coverage
FCF DCF€414.72€510.84€688.6477
Growth DCF€425.67€518.50€676.3375
Residual Income€136.19€163.52€209.4274
All 24 models by family
DCF Models
FCF DCF€414.72€510.84€688.6477
Owner Earnings€415.04€511.26€689.2673
5Y Revenue Exit€390.91€501.87€665.6069
5Y EBITDA Exit€446.76€597.70€800.6271
5Y P/E Exit€417.70€547.84€705.8667
10Y Revenue Exit€391.83€479.13€574.2864
10Y EBITDA Exit€431.54€538.22€654.3165
10Y P/E Exit€414.32€507.47€598.1461
Earnings-Based
Graham-Dodd€143.83€199.37€232.2565
EPV€319.17€348.09€372.9570
Dividend Discount
Gordon GGM€111.21€121.96€137.4167
DDM Multi-Stage€111.21€140.27€177.4965
Multiples
P/E Multiple€333.14€444.18€555.2363
P/S Multiple€269.68€359.58€449.4758
P/B Multiple€218.79€291.71€364.6455
EV/EBIT€480.55€603.12€725.7063
EV/EBITDA€502.29€632.12€761.9464
EV/Revenue€375.27€487.76€600.2452
Asset-Based
NCAV (Graham)€45.66€69.18€86.4852
Growth DCF
Growth DCF€425.67€518.50€676.3375
Rev-Margin DCF€390.91€508.64€655.6069
Economic Profit
Residual Income€136.19€163.52€209.4274
ROIC Compounder€319.26€348.59€374.1368
Growth Earnings
Growth-Adj P/E€235.24€336.06€436.8765
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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
−5.6%
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.
−15.5%
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.
+3.9%
Start year 2020 (pandemic). Over 10 years: +2.5% 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.
−1.1%
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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.
+16.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.8%
Dividend (yield on the price)4.4%
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.11.8% vs 15.1%, 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% → 6%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less 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).
−14.4%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −16.2% 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.Integrated Freight & Logistics · 210 stocks
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). "Logwin AG Fair Value". https://www.fairvalue-calculator.com/stock/TGHN
Frequently asked questions
Is Logwin AG (TGHN) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €328.05 versus a price of €292.00, about +12% upside (undervalued).
What is the fair value of TGHN?
Our model-based fair value for Logwin AG is €328.05 (as of Nov 7, 2026), built from audited fundamentals. The current price: €292.00.
What is the quality score of TGHN?
Logwin AG has a Quality Score of 68/100. 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 Logwin AG (TGHN)?
Our model-based price target is the fair value of €328.05 (as of Nov 7, 2026) from 24 valuation models. Cautious scenario €246.04, optimistic scenario €410.07. It is a calculation from audited fundamentals, not an analyst target.
What is the Logwin AG stock forecast for 2026?
Our models put fair value at €328.05, about +12% upside versus a price of €292.00 (undervalued). Cautious scenario €246.04, optimistic scenario €410.07. The calculation is refreshed regularly with new filings.
What is the revenue of Logwin AG (TGHN)?
Logwin AG reported trailing-twelve-month revenue of about €1.4B (latest available figure, as of Nov 7, 2026).
Does Logwin AG pay a dividend?
Logwin AG currently shows a dividend yield of 4.38% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Logwin AG (TGHN) and when is the ex-dividend date?
Logwin AG pays a dividend of €12.80 per share a year, a dividend yield of 4.4%. The last ex-dividend date was Apr 16, 2026. The payout ratio is 64.8% of earnings. Free cash flow covers the dividend 2.30 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Logwin AG (TGHN)?
For today's price to be fair in a discounted-cash-flow model, Logwin AG would have to grow free cash flow by -14.4 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.9 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of TGHN use?
Our models discount Logwin AG at 9.6 %: a base by market capitalisation (small), damped by beta 0.09, 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 Logwin AG that is -14.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Logwin AG (TGHN) delivered so far?
Over the past 5 years revenue at Logwin AG grew +3.9 % a year. The price currently implies free-cash-flow growth of -14.4 % 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 Logwin AG (TGHN) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Logwin AG (-14.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Logwin AG (TGHN)?
The free-cash-flow yield on the price is 10.10 %: that much free cash flow Logwin AG produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Logwin AG (TGHN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Logwin AG it is €328.05 per share (as of Nov 7, 2026), against a price of €292.00. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Logwin AG stock overvalued or undervalued in 2026?
As of Nov 7, 2026, TGHN trades below its calculated fair value: price €292.00, fair value €328.05, a gap of about +12% (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 TGHN?
No. The price is what the market pays today (€292.00); the fair value is what the company's own numbers justify (€328.05). For Logwin AG the two are €36.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is Logwin AG worth?
The market values Logwin AG at about €841M (market capitalisation, as of Nov 7, 2026). Per share that is €292.00; our models calculate a fair value of €328.05 per share.
What do the bullish and bearish scenarios say about TGHN?
Our models span a range for Logwin AG: cautious scenario €246.04, base €328.05, optimistic €410.07 per share (as of Nov 7, 2026, price €292.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TGHN?
Logwin AG trades at a price-to-earnings ratio of 14.8 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €328.05 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings, FY2025 ex one-offs: 12.1. Other multiples: P/B 2.1, P/S 0.6, EV/EBITDA 5.5.
How solid is the balance sheet of Logwin AG (TGHN)?
Balance-sheet figures for Logwin AG (as of Nov 7, 2026): return on equity 15.4%. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is TGHN from its 52-week high?
Logwin AG trades at €292.00, about 1% below its 52-week high of €296.00 and 29% above the low of €225.58 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €328.05 is for.
Which stocks are comparable to Logwin AG?
From the same area (Industrials) we also value United Parcel Service, Inc, FedEx Corporation, Deutsche Post AG, DSV A/S, 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 Logwin AG stock attractive at the current price?
The data as of Nov 7, 2026: price €292.00, calculated fair value €328.05 (+12%), Quality Score 68/100, from 24 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 TGHN calculated?
We run Logwin AG through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €328.05 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. Logwin AG currently trades 11% 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 Logwin AG (TGHN)?
The closing price on Nov 6, 2026 was €292.00. Our model-based fair value is €328.05, about +12% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Logwin AG right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Logwin AG (TGHN) come from?
Earnings per share at Logwin AG grew +16.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.9 %, EBIT margin +10.0 %, tax rate +0.8 %, residual (interest, one-offs) +1.7 %. 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 Logwin AG
How large is the market capitalisation of Logwin AG (TGHN)?
The market capitalisation of Logwin AG is €841M. 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 Logwin AG (TGHN)?
The price-to-sales ratio of Logwin AG is 0.60 (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 Logwin AG (TGHN)?
Earnings per share at Logwin AG are €19.76 (price ÷ EPS = P/E 14.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Logwin AG (TGHN)?
The dividend yield of Logwin AG is 4.4% (payout 64.8%). 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 Logwin AG (TGHN)?
The net margin of Logwin AG is 4.0% (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 Logwin AG (TGHN)?
The return on equity (ROE) of Logwin AG is 15.4% (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 Logwin AG (TGHN)?
On an EBIT basis the return on assets of Logwin AG is 12.1% (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 Logwin AG (TGHN)?
The operating margin of Logwin AG is 5.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Logwin AG (TGHN)?
Revenue at Logwin AG is growing +6.5% versus a year earlier (3y avg −15.5%). 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 Logwin AG (TGHN)?
Earnings per share at Logwin AG are growing −13.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Logwin AG (TGHN) hold?
Logwin AG holds more cash than debt, €325M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 7, 2026