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MTU Aero Engines AG (0FC9) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of MTU Aero Engines AG €101, price €371, upside -72.7%, quality 45 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 DE000A0D9PT0

MA Thin data Sep 28, 2026

MTU Aero Engines AG

0FC9 · LSE

Weakest SetupStrongly overvalued and low quality.

!Fair value €101.10 · Strongly overvalued (−72.7%)
!Quality 45/100
!Weak Growth (revenue 3y +0.7 %/yr)
✓Solidly profitable · 11.2% net margin (TTM)
✓Low debt
!Moderate moat 58/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€397.83 €147.17 Fair Value €101.10 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 28, 2026.

How to read this chart

60‑month range €147.17 – €397.83 · fair‑value band €75.83 – €126.38 · the €370.55 price screens above the €101.10 fair value. Dashed = 300-day average. As of Sep 28, 2026.

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Company profile

MTU Aero Engines AG, together with its subsidiaries, engages in the development, manufacture, sale, and maintenance of commercial and military aircraft engines, and aero-derivative industrial gas turbines in Germany, other European countries, North America, Asia, and internationally.

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MTU Aero Engines AG, together with its subsidiaries, engages in the development, manufacture, sale, and maintenance of commercial and military aircraft engines, and aero-derivative industrial gas turbines in Germany, other European countries, North America, Asia, and internationally. It operates through two segments: Original Equipment Manufacturing Business; and Maintenance, Repair, and Overhaul Business. The company offers commercial aircraft engines for wide body aircraft, narrow body, regional jets, helicopters, business jets, and turboprops; military aircraft engines for fighter jets, helicopters, and transporters; and industrial gas turbines. It also maintains, repairs, and overhauls commercial and military engines; and manufactures and markets various spare parts. The company was formerly known as MTU Aero Engines Holding AG and changed its name to MTU Aero Engines AG in May 2013. MTU Aero Engines AG was founded in 1913 and is headquartered in Munich, Germany.

Stock analysis

MTU Aero Engines AG (0FC9) currently trades at €370.55, while our model-based Fair Value estimate is €101.10, 72.7% 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 €211.95 per share, and 0 of the 23 models we run sit above the €370.55 price.

Bear case: the Earnings-Based group reads lowest at €37.54, and 23 of the 23 models stay below the price. Evidence for this calculation is low.

Scenario range: €75.83 (bear) to €126.38 (bull), the price of €370.55 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 45/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

MTU Aero Engines AG reported revenue of €4.0B in FY2020 versus €4.7B in FY2016, a compound −4.3%/yr. Reported net income was €139M in FY2020, compounding −18.3%/yr from FY2016.

Key figures

Market cap €9.9B · P/S ratio 1.11 · Net margin 3.5% · Return on equity 24.3% · Return on assets (EBIT) 7.5% · Operating margin 10.9% · Revenue (TTM) €8.9B · Revenue growth (YoY) +5.7%.

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 about 7% below its 52-week high and 38% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −24% fair-value upside, at −73%, 0FC9 screens richer than that median.

Fair Value models

Bear €75.83 Fair Value €101.10 Bull €126.38
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
FCF DCF €248.14 €352.46 €545.66 76
Growth DCF €260.51 €361.76 €534.95 75
EPV €29.67 €37.54 €44.43 74
All 23 models by family
DCF Models
FCF DCF €248.14 €352.46 €545.66 76
5Y Revenue Exit €135.26 €179.22 €242.59 70
5Y EBITDA Exit €175.13 €248.26 €345.19 72
5Y P/E Exit €128.04 €166.73 €213.74 69
10Y Revenue Exit €175.18 €211.95 €248.86 65
10Y EBITDA Exit €201.74 €254.64 €309.09 67
10Y P/E Exit €173.16 €204.22 €231.92 62
Earnings-Based
Graham-Dodd €35.50 €43.38 €48.81 65
EPV €29.67 €37.54 €44.43 74
Dividend Discount
Gordon GGM €42.76 €46.80 €52.96 67
DDM Multi-Stage €42.76 €53.65 €68.91 65
Multiples
P/E Multiple €82.22 €109.62 €137.03 63
P/S Multiple €66.56 €88.74 €110.93 58
P/B Multiple €66.56 €88.74 €110.93 55
EV/EBIT €107.91 €149.73 €191.55 66
EV/EBITDA €154.19 €211.43 €268.68 67
EV/Revenue €72.00 €110.37 €148.75 53
Asset-Based
NCAV (Graham) €47.94 €64.24 €95.88 54
Growth DCF
Growth DCF €260.51 €361.76 €534.95 75
Rev-Margin DCF €135.26 €185.45 €249.77 70
Economic Profit
Residual Income €75.57 €78.25 €83.34 73
ROIC Compounder €29.67 €37.54 €44.43 69
Growth Earnings
Growth-Adj P/E €58.06 €82.94 €107.82 65

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Quality Score breakdown

Overall quality 45/100

Of which business quality 45 · Market factors (momentum, volatility) 52

Profitability 24
Margins and returns on capital today
Quality Growth 1
Are margins and returns improving?
Cashflow 89
Earnings quality: real cash, not paper profit
Fin. Strength 42
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 54
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. 40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−14.1%
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.
+0.7%
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.
9.6% (2016) → 6.6% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

0FC9 screens overvalued: fair value 73% below the price. Compare with General Electric Company →

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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.Aerospace & Defense · 227 stocks

Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 45 · Below median
Fair Value upside −70.4% · Bottom 25%
Profitability
Return on equity (TTM) 24.3% · Top 25%
Return on assets 6.0% · Above median
Net margin (TTM) 11.2% · Above median
Operating margin (TTM) 10.9% · Above median
Growth and dividend
Revenue growth 5.7% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Balance sheet
Debt / equity 0.49× · Highest 25%

Valuation Multiplesvs Aerospace & Defense median · lower = cheaper

P/B 4.49× · Pricier than median
P/S (TTM) 1.29× · Cheapest 25%
EV/EBITDA 8.2× · Cheapest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
General Electric Company GE $312.29 $92.61 −70%
RTX Corporation RTX $185.01 $88.30 −52%
Airbus SE AIR €185.60 €112.14 −40%
Lockheed Martin Corporation LMT $509.25 $439.62 −14%
Howmet Aerospace Inc HWM $230.94 $52.67 −77%
General Dynamics Corporation GD $334.16 $274.19 −18%
Northrop Grumman Corporation NOC $504.61 $382.98 −24%
TransDigm Group TDG $1,116 $1,228 +10%
Thales S.A HO €222.70 €170.99 −23%
Rheinmetall AG RHM €956.90 €313.19 −67%

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Cite: Fair Value Calculator (2026). "MTU Aero Engines AG Fair Value". https://www.fairvalue-calculator.com/stock/0FC9

Frequently asked questions

Is MTU Aero Engines AG (0FC9) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of €101.10 versus a price of €370.55, about −73% upside (overvalued).
What is the fair value of 0FC9?
Our model-based fair value for MTU Aero Engines AG is €101.10 (as of Sep 28, 2026), built from audited fundamentals. The current price: €370.55.
What is the quality score of 0FC9?
MTU Aero Engines AG has a Quality Score of 45/100. 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 MTU Aero Engines AG (0FC9)?
Our model-based price target is the fair value of €101.10 (as of Sep 28, 2026) from 23 valuation models. Cautious scenario €75.83, optimistic scenario €126.38. It is a calculation from audited fundamentals, not an analyst target.
What is the MTU Aero Engines AG stock forecast for 2026?
Our models put fair value at €101.10, about −73% upside versus a price of €370.55 (overvalued). Cautious scenario €75.83, optimistic scenario €126.38. The calculation is refreshed regularly with new filings.
What is the revenue of MTU Aero Engines AG (0FC9)?
MTU Aero Engines AG reported trailing-twelve-month revenue of about €8.9B (latest available figure, as of Sep 28, 2026).
What is the intrinsic value of MTU Aero Engines AG (0FC9)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MTU Aero Engines AG it is €101.10 per share (as of Sep 28, 2026), against a price of €370.55. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is MTU Aero Engines AG stock overvalued or undervalued in 2026?
As of Sep 28, 2026, 0FC9 trades above its calculated fair value: price €370.55, fair value €101.10, a gap of about −73% (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 0FC9?
No. The price is what the market pays today (€370.55); the fair value is what the company's own numbers justify (€101.10). For MTU Aero Engines AG the two are €269.45 per share apart. That gap is exactly why we show both numbers side by side.
How much is MTU Aero Engines AG worth?
The market values MTU Aero Engines AG at about €9.9B (market capitalisation, as of Sep 28, 2026). Per share that is €370.55; our models calculate a fair value of €101.10 per share.
What do the bullish and bearish scenarios say about 0FC9?
Our models span a range for MTU Aero Engines AG: cautious scenario €75.83, base €101.10, optimistic €126.38 per share (as of Sep 28, 2026, price €370.55). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of MTU Aero Engines AG (0FC9)?
Balance-sheet figures for MTU Aero Engines AG (as of Sep 28, 2026): return on equity 24.3%, debt of 0.49 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 0FC9 from its 52-week high?
MTU Aero Engines AG trades at €370.55, about 7% below its 52-week high of €397.83 and 38% above the low of €268.85 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €101.10 is for.
Which stocks are comparable to MTU Aero Engines AG?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Lockheed Martin 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 MTU Aero Engines AG stock attractive at the current price?
The data as of Sep 28, 2026: price €370.55, calculated fair value €101.10 (−73%), Quality Score 45/100, from 23 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 0FC9 calculated?
We run MTU Aero Engines AG through 23 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 €101.10, 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. MTU Aero Engines AG 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 MTU Aero Engines AG (0FC9)?
The closing price on Oct 2, 2026 was €370.55. Our model-based fair value is €101.10, about −73% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MTU Aero Engines AG right now?
The price sits above even our optimistic bull case (€126.38). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of MTU Aero Engines AG

How large is the market capitalisation of MTU Aero Engines AG (0FC9)?
The market capitalisation of MTU Aero Engines AG is €9.9B. 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 MTU Aero Engines AG (0FC9)?
The price-to-sales ratio of MTU Aero Engines AG is 1.11 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of MTU Aero Engines AG (0FC9)?
The net margin of MTU Aero Engines AG is 3.5% (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 MTU Aero Engines AG (0FC9)?
The return on equity (ROE) of MTU Aero Engines AG is 24.3% (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 MTU Aero Engines AG (0FC9)?
On an EBIT basis the return on assets of MTU Aero Engines AG is 7.5% (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 MTU Aero Engines AG (0FC9)?
The operating margin of MTU Aero Engines AG is 10.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MTU Aero Engines AG (0FC9)?
Revenue at MTU Aero Engines AG is growing +5.7% versus a year earlier (3y avg +0.7%). 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 MTU Aero Engines AG (0FC9)?
Earnings per share at MTU Aero Engines AG are growing −10.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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