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STOCK COMPARISON

Kapsch Traffic vs Merchant Express Class A: Fair Value & Quality

Both stocks run through our valuation models. Here is how Kapsch Traffic (KTCG) and Merchant Express Class A (001965) compare, as of Aug 11, 2026.

As of Aug 11, 2026, Fair Value Calculator sees Merchant Express Class A as the less overvalued of the two: Kapsch Traffic trades at €4.82 versus a fair value of €4.17 (-13%), while Merchant Express Class A trades at ¥9.43 versus ¥9.16 (-3%).
Kapsch Traffic
KTCG.VI · EUR · Information Technology
-13%
upside to fair value
overvalued
Price€4.82
Fair Value€4.17
Quality44/100
Merchant Express Class A
001965.SHE · CNY · Industrials
-3%
upside to fair value
fairly valued
Price¥9.43
Fair Value¥9.16
Quality59/100

Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Kapsch TrafficMerchant Express Class A
Valuation
13.0×P/E (TTM)15.0×
0.20×P/S (TTM)4.77×
0.96×P/B0.91×
EV/EBITDA16.3×
Dividend yield3.8%
Dividend per share¥0.37
Profitability
1%Net margin33%
-21%Operating margin20%
3%Return on equity6%
-7%Return on assets1%
Growth
-21%Revenue growth (YoY)27%
0.7%Avg. growth/yr (3Y)17.2%
-6.2%Avg. growth/yr (5Y)13.6%
Balance & size
1.08×Debt / equity0.65×
$86MMarket cap$10B
weakGrowth qualityhealthy

Merchant Express Class A leads: 2 to 9 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Kapsch Trafficof which business quality 43 · market factors 28 Merchant Express Class Aof which business quality 57 · market factors 47
ProfitabilityMargins and returns on capital today
29
34
Quality GrowthAre margins and returns improving?
30
48
CashflowEarnings quality: real cash, not paper profit
40
85
Fin. StrengthBalance sheet, leverage, solvency risk
24
33
InvestmentDisciplined investing over empire-building
96
55
Low VolatilityCalm price path (market factor)
67
92
MomentumPrice trend over the last 3–12 months (market factor)
17
33
52W MomentumDistance to the 52-week high (market factor)
0
19
Net IssuanceBuybacks instead of dilution
65
94

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Kapsch Traffic

DCF Models€10.65
Dividend Discount€13.17
Multiples€9.74
Asset-Based€4.17
Growth DCF€12.01

2 of 12 models see the stock below the current price.

Merchant Express Class A

DCF Models¥12.99
Earnings-Based¥10.25
Dividend Discount¥11.63
Multiples¥7.50
Asset-Based¥7.32
Growth DCF¥8.98
Economic Profit¥9.16
Growth Earnings¥15.42

8 of 23 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Kapsch Traffic
Bear €3.11Fair Value €4.17Bull €6.23
€4.82 = current price (white tick)
Merchant Express Class A
Bear ¥8.65Fair Value ¥9.16Bull ¥10.93
¥9.43 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Kapsch Traffic · Information Technology

Quality score44 · below median
Fair value upside-13% · above median

Merchant Express Class A · Industrials

Quality score59 · above median
Fair value upside-3% · above median

Bottom line

As of Aug 11, 2026, Fair Value Calculator sees Merchant Express Class A as the less overvalued of the two: Kapsch Traffic trades at €4.82 versus a fair value of €4.17 (-13%), while Merchant Express Class A trades at ¥9.43 versus ¥9.16 (-3%).

Merchant Express Class A has the higher quality score (59/100).

See the full analysis →

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.