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INDUS Holding (0EUH) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of INDUS Holding €4.17, price €41.03, upside -89.8%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Industrials · GB · Home Germany · ISIN DE0006200108

IH Broad data Sep 24, 2026

INDUS Holding

0EUH · LSE

Weakest SetupStrongly overvalued and low quality.

!Fair value €4.17 · Strongly overvalued (−89.8%)
!Quality 49/100
!Weak Growth (revenue 3y −1.7 %/yr)
!Thin margins · 3.9% net margin (TTM)
!Moderate debt
·3.2% dividend yield · Safety not assessed
!Narrow moat 36/100

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

€41.13 €14.68 Fair Value €4.17 Dec 2020 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range €14.68 – €41.13 · fair‑value band €4.17 – €6.22 · the €41.03 price screens above the €4.17 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

INDUS Holding AG is a private equity firm specializing in mergers and acquisitions and corporate spin-offs.

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INDUS Holding AG is a private equity firm specializing in mergers and acquisitions and corporate spin-offs. The firm does not invest in retail and service companies, pure trading or consumer goods businesses, companies with significant dependencies on individual business partners, start-ups, turnarounds, mature businesses, and companies undergoing restructuring. The firm typically invests in middle market and mature companies. It primarily makes long-term investments in medium-sized manufacturing companies in energy and environmental technology; infrastructure and logistics technology, intelligent logistic infrastructure; automation, measurement and control technology; medical engineering; life science; construction and safety technology; industry; digitalization; green tech; medical equipment for the ageing society; innovative construction technology; and public and private security sectors. The firm acquires small and medium-sized companies based in Germany, Switzerland, Austria, and the German-speaking regions of Europe. It typically invests in companies with annual sales between "20 million ($21.71 million) and "100 million ($108.58 million), revenue up to "1.74 million($2.03 million), equity rate above 30 percent, and double digit EBIT margin. It prefers to invest in companies with low level/no liabilities to banks. The firm seeks to take a majority stake in its portfolio companies initially and building it up to 100 percent. It prefers to acquire mainly owner-managed companies. It also seeks second-level acquisition opportunities. The firm invests through its balance sheet. INDUS Holding AG was founded in 1989 and is based in Bergisch Gladbach, Germany.

Stock analysis

INDUS Holding (0EUH) currently trades at €41.03, while our model-based Fair Value estimate is €4.17, 89.8% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of €20.60 per share, and 0 of the 5 models we run sit above the €41.03 price.

Bear case: the Growth DCF group reads lowest at €2.56, and 5 of the 5 models stay below the price. Evidence for this calculation is high.

Scenario range: €4.17 (bear) to €6.22 (bull), the price of €41.03 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 49/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

INDUS Holding reported revenue of €1.6B in FY2020 versus €1.4B in FY2016, a compound +1.9%/yr. Reported net income was −€27.0M in FY2020.

Key figures

Market cap €901M · P/S ratio 0.51 · Dividend yield 3.2% · Net margin −1.7% · Return on equity 9.5% · Return on assets (EBIT) 6.9% · Operating margin 8.1% · Revenue (TTM) €1.8B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades at its 52-week high and 103% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 2% fair-value upside, at −90%, 0EUH screens richer than that median.

Fair Value models

Bear €4.17 Fair Value €4.17 Bull €6.22
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence ⓘEvidence = 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.
Highest evidence
Gordon GGM €9.99 €10.77 €11.93 67
Rev-Margin DCF n/a €2.56 €8.32 66
DDM Multi-Stage €9.99 €11.89 €14.35 65
All 5 models by family
Dividend Discount
Gordon GGM €9.99 €10.77 €11.93 67
DDM Multi-Stage €9.99 €11.89 €14.35 65
Asset-Based
NCAV (Graham) €15.37 €20.60 €30.75 54
Growth DCF
Growth DCF €0.3300 €4.10 €9.94 64
Rev-Margin DCF n/a €2.56 €8.32 66

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Quality Score breakdown

Overall quality 49/100

Of which business quality 48 · Market factors (momentum, volatility) 84

Profitability 35
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 48
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)

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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. 25/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−10.6%
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.
−1.7%
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.
10.0% (2016) → 1.6% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

0EUH screens overvalued: fair value 90% below the price. Compare with 3M Company →

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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

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INDUS Holding · Fair Value
€4.17 −90%Fair Value
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Cite: Fair Value Calculator (2026). "INDUS Holding Fair Value". https://www.fairvalue-calculator.com/stock/0EUH

Frequently asked questions

Is INDUS Holding (0EUH) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €4.17 versus a price of €41.03, about −90% upside (overvalued).
What is the fair value of 0EUH?
Our model-based fair value for INDUS Holding is €4.17 (as of Sep 24, 2026), built from audited fundamentals. The current price: €41.03.
What is the quality score of 0EUH?
INDUS Holding has a Quality Score of 49/100. 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 INDUS Holding (0EUH)?
Our model-based price target is the fair value of €4.17 (as of Sep 24, 2026) from 5 valuation models. Cautious scenario €4.17, optimistic scenario €6.22. It is a calculation from audited fundamentals, not an analyst target.
What is the INDUS Holding stock forecast for 2026?
Our models put fair value at €4.17, about −90% upside versus a price of €41.03 (overvalued). Cautious scenario €4.17, optimistic scenario €6.22. The calculation is refreshed regularly with new filings.
What is the revenue of INDUS Holding (0EUH)?
INDUS Holding reported trailing-twelve-month revenue of about €1.8B (latest available figure, as of Sep 24, 2026).
Does INDUS Holding pay a dividend?
INDUS Holding currently shows a dividend yield of about 3.17% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of INDUS Holding (0EUH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For INDUS Holding it is €4.17 per share (as of Sep 24, 2026), against a price of €41.03. It is the blended result of 5 valuation models (cash flow, earnings, asset, dividend).
Is INDUS Holding stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0EUH trades above its calculated fair value: price €41.03, fair value €4.17, a gap of about −90% (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 0EUH?
No. The price is what the market pays today (€41.03); the fair value is what the company's own numbers justify (€4.17). For INDUS Holding the two are €36.86 per share apart. That gap is exactly why we show both numbers side by side.
How much is INDUS Holding worth?
The market values INDUS Holding at about €901M (market capitalisation, as of Sep 24, 2026). Per share that is €41.03; our models calculate a fair value of €4.17 per share.
What do the bullish and bearish scenarios say about 0EUH?
Our models span a range for INDUS Holding: cautious scenario €4.17, base €4.17, optimistic €6.22 per share (as of Sep 24, 2026, price €41.03). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0EUH from its 52-week high?
INDUS Holding trades at €41.03, at its 52-week high of €41.13 and 103% above the low of €20.25 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €4.17 is for.
Which stocks are comparable to INDUS Holding?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, CITIC Limited, Swire Pacific Limited, 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 INDUS Holding stock attractive at the current price?
The data as of Sep 24, 2026: price €41.03, calculated fair value €4.17 (−90%), Quality Score 49/100, from 5 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 0EUH calculated?
We run INDUS Holding through 5 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €4.17, 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 14.5 % above its aggregate fair value. INDUS Holding 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 INDUS Holding (0EUH)?
The closing price on Oct 2, 2026 was €41.03. Our model-based fair value is €4.17, about −90% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with INDUS Holding right now?
The price sits above even our optimistic bull case (€6.22). The favourable scenario is already priced in. Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of INDUS Holding

How large is the market capitalisation of INDUS Holding (0EUH)?
The market capitalisation of INDUS Holding is €901M. 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 INDUS Holding (0EUH)?
The price-to-sales ratio of INDUS Holding is 0.51 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of INDUS Holding (0EUH)?
The dividend yield of INDUS Holding is 3.2%. 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 INDUS Holding (0EUH)?
The net margin of INDUS Holding is −1.7% (fiscal year 2020). 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 INDUS Holding (0EUH)?
The return on equity (ROE) of INDUS Holding is 9.5% (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 INDUS Holding (0EUH)?
On an EBIT basis the return on assets of INDUS Holding is 6.9% (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 INDUS Holding (0EUH)?
The operating margin of INDUS Holding is 8.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at INDUS Holding (0EUH)?
Revenue at INDUS Holding is growing +9.8% versus a year earlier (3y avg −1.7%). 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 INDUS Holding (0EUH)?
Earnings per share at INDUS Holding are growing +0.5% versus a year earlier. How much earnings per share grew versus a year earlier.
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