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Koenig & Bauer AG (0G15) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Koenig & Bauer AG €7.04, price €8.96, upside -21.4%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Some data
Sep 24, 2026
Koenig & Bauer AG
0G15 · LSEOvervalued / MonitorQuality is not strong enough to offset the price risk.
!Fair value €7.04 · Overvalued (−21.4%)
!Quality 51/100
!Mixed Growth (revenue 5y +4.8 %/yr)
!Loss-making · -1.4% net margin (TTM)
✓Low debt · generates free cash flow
!Narrow moat 17/100
!Evidence only medium, so the estimate is less certain
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
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 €7.21 – €32.10 · fair‑value band €4.78 – €10.41 · the €8.96 price screens above the €7.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Koenig & Bauer AG develops and manufactures printing and post print systems worldwide. It operates through Paper & Packaging Sheetfed Systems and Special & New Technologies segments.
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Koenig & Bauer AG develops and manufactures printing and post print systems worldwide. It operates through Paper & Packaging Sheetfed Systems and Special & New Technologies segments. The company offers authentication, CI flexo printing, die-cutting, digital sheetfed printing, digital web printing, flexo post-printing, folder gluing, sheetfed offset printing, and web offset printing solutions. It also provides corrugated board, folding carton, glass and hollow ware, metal, paper plastic and film products. In addition, the company offers modular system. Further, it provides parts and consumables, PressSupport 24, press relocations, maintenance and inspections, digital and workflow solutions, training and consulting, retrofits and upgrades services. The company's products are used in commercial and book printing, decor printing, hollow ware printing, industrial coding & marking, label printing, metal decorating, packaging printing, post press, and security printing applications. Koenig & Bauer AG was founded in 1817 and is headquartered in Würzburg, Germany.
Stock analysis
Koenig & Bauer AG (0G15) currently trades at €8.96, while our model-based Fair Value estimate is €7.04, 21.4% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €11.68 per share, and 4 of the 12 models we run sit above the €8.96 price.
Bear case: the Earnings-Based group reads lowest at €3.07, and 8 of the 12 models stay below the price. Evidence for this calculation is medium.
Scenario range: €4.78 (bear) to €10.41 (bull), the price of €8.96 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 51/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Koenig & Bauer AG reported revenue of €1.3B in FY2025 versus €1.1B in FY2021, a compound +3.9%/yr. Reported net income was −€13.5M in FY2025.
Key figures
Market cap €430M · P/S ratio 0.33 · Net margin −1.0% · Return on equity −5.7% · Return on assets (EBIT) 1.0% · Operating margin −7.5% · Revenue (TTM) €1.3B · Revenue growth (YoY) +3.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at −21%, 0G15 screens cheaper than that median.
Fair Value models
Bear €4.78
Fair Value €7.04
Bull €10.41
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
€4.18
€5.33
€7.44
81
Growth DCF
€4.30
€5.40
€7.24
80
5Y EBITDA Exit
€9.43
€14.90
€22.34
74
All 12 models by family
DCF Models
FCF DCF
€4.18
€5.33
€7.44
81
5Y Revenue Exit
€5.06
€7.47
€11.09
72
5Y EBITDA Exit
€9.43
€14.90
€22.34
74
10Y Revenue Exit
€4.50
€6.36
€8.45
67
10Y EBITDA Exit
€7.09
€10.78
€14.97
68
Earnings-Based
EPV
€2.70
€3.07
€3.39
74
Multiples
EV/EBIT
€8.74
€11.68
€14.62
66
EV/EBITDA
€15.60
€20.82
€26.05
67
EV/Revenue
€6.22
€8.92
€11.61
53
Asset-Based
NCAV (Graham)
€3.56
€4.78
€7.13
54
Growth DCF
Growth DCF
€4.30
€5.40
€7.24
80
Economic Profit
ROIC Compounder
€2.70
€3.07
€3.39
72
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Set up alert →Quality Score breakdown
Overall quality
51/100
Of which business quality 48 · Market factors (momentum, volatility) 31
Profitability
27
Margins and returns on capital today
Quality Growth
70
Are margins and returns improving?
Cashflow
15
Earnings quality: real cash, not paper profit
Fin. Strength
36
Balance sheet, leverage, solvency risk
Investment
99
Disciplined investing over empire-building
Low Volatility
50
Calm price path (market factor)
Momentum
32
Price trend over the last 3–12 months (market factor)
52W Momentum
7
Distance to the 52-week high (market factor)
Net Issuance
82
Share count: buybacks or dilution?
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.
32/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.2%
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.
+3.2%
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.
+4.8%
Start year 2020 (pandemic). Over 10 years: +2.4% a year
Revenue growth 23 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.
−0.2%
’14
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’17
’18
’19
’20
’21
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’23
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’25
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.
−0.6% (2020) → 2.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+8.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +5.8% a year for the price and +1.1% for the forecasts.
Forecast 2026 (sales)−0.5%
Forecast 2027 (sales)+4.9%
Projected 2028 (sales)+4.5%
Projected 2029 (sales)+4.2%
Projected 2030 (sales)+3.8%
0G15 screens overvalued: fair value 21% below the price. Compare with GE Vernova Inc →
Compare Koenig & Bauer AG with another stock
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: UK Stocks
- Valuation of the UK 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
Similar stocks
10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| GE Vernova Inc GEV | $950.49 | $142.61 | −85% |
| SIE SIE | €271.90 | €150.42 | −45% |
| Eaton Corporation ETN | $433.27 | $173.12 | −60% |
| Parker-Hannifin Corporation PH | $970.37 | $494.81 | −49% |
| Emerson Electric Co EMR | $155.10 | $62.54 | −60% |
| Illinois Tool Works Inc ITW | $257.28 | $153.33 | −40% |
| Cummins Inc CMI | $516.57 | $359.11 | −30% |
| AMETEK, Inc AME | $250.74 | $125.77 | −50% |
| Rockwell Automation, Inc ROK | $442.45 | $139.31 | −69% |
| Sandvik AB SAND | kr 362.00 | kr 193.59 | −47% |
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Frequently asked questions
Is Koenig & Bauer AG (0G15) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €7.04 versus a price of €8.96, about −21% upside (overvalued).
What is the fair value of 0G15?
Our model-based fair value for Koenig & Bauer AG is €7.04 (as of Sep 24, 2026), built from audited fundamentals. The current price: €8.96.
What is the quality score of 0G15?
Koenig & Bauer AG has a Quality Score of 51/100. 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 Koenig & Bauer AG (0G15)?
Our model-based price target is the fair value of €7.04 (as of Sep 24, 2026) from 12 valuation models. Cautious scenario €4.78, optimistic scenario €10.41. It is a calculation from audited fundamentals, not an analyst target.
What is the Koenig & Bauer AG stock forecast for 2026?
Our models put fair value at €7.04, about −21% upside versus a price of €8.96 (overvalued). Cautious scenario €4.78, optimistic scenario €10.41. The calculation is refreshed regularly with new filings.
What is the revenue of Koenig & Bauer AG (0G15)?
Koenig & Bauer AG reported trailing-twelve-month revenue of about €1.3B (latest available figure, as of Sep 24, 2026).
What growth is priced into Koenig & Bauer AG (0G15)?
For today's price to be fair in a discounted-cash-flow model, Koenig & Bauer AG would have to grow free cash flow by +8.1 % per year for five years (discount rate 12.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0G15 use?
Our models discount Koenig & Bauer AG at 12.3 %: a base by market capitalisation (small), damped by beta 1.19, country premium for United Kingdom. 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 Koenig & Bauer AG that is +8.1 % per year a year over ten years, using the same discount rate (12.3 %) and the same formula as our fair value.
How much growth has Koenig & Bauer AG (0G15) delivered so far?
Over the past 5 years revenue at Koenig & Bauer AG grew +4.8 % a year. The price currently implies +8.1 % per year free-cash-flow growth a 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 Koenig & Bauer AG (0G15) growing?
The median revenue growth in the sector is +7.2 % a year. That is the yardstick for the growth priced into Koenig & Bauer AG (+8.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Koenig & Bauer AG (0G15)?
The free-cash-flow yield on the price is 7.56 %: that much free cash flow Koenig & Bauer AG produces per unit of market value. When it exceeds the discount rate of our models (12.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Koenig & Bauer AG (0G15)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Koenig & Bauer AG it is €7.04 per share (as of Sep 24, 2026), against a price of €8.96. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Koenig & Bauer AG stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0G15 trades above its calculated fair value: price €8.96, fair value €7.04, a gap of about −21% (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 0G15?
No. The price is what the market pays today (€8.96); the fair value is what the company's own numbers justify (€7.04). For Koenig & Bauer AG the two are €1.92 per share apart. That gap is exactly why we show both numbers side by side.
How much is Koenig & Bauer AG worth?
The market values Koenig & Bauer AG at about €430M (market capitalisation, as of Sep 24, 2026). Per share that is €8.96; our models calculate a fair value of €7.04 per share.
What do the bullish and bearish scenarios say about 0G15?
Our models span a range for Koenig & Bauer AG: cautious scenario €4.78, base €7.04, optimistic €10.41 per share (as of Sep 24, 2026, price €8.96). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0G15 from its 52-week high?
Koenig & Bauer AG trades at €8.96, about 38% below its 52-week high of €14.40 and 11% above the low of €8.05 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €7.04 is for.
Which stocks are comparable to Koenig & Bauer AG?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin 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 Koenig & Bauer AG stock attractive at the current price?
The data as of Sep 24, 2026: price €8.96, calculated fair value €7.04 (−21%), Quality Score 51/100, from 12 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 0G15 calculated?
We run Koenig & Bauer AG through 12 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 €7.04, 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. Koenig & Bauer 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 Koenig & Bauer AG (0G15)?
The closing price on Oct 2, 2026 was €8.96. Our model-based fair value is €7.04, about −21% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Koenig & Bauer AG right now?
Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (€4.78 to €10.41) leaves room in how you read the outcome.
Key figures of Koenig & Bauer AG
How large is the market capitalisation of Koenig & Bauer AG (0G15)?
The market capitalisation of Koenig & Bauer AG is €430M. 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 Koenig & Bauer AG (0G15)?
The price-to-sales ratio of Koenig & Bauer AG is 0.33 (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 Koenig & Bauer AG (0G15)?
The net margin of Koenig & Bauer AG is −1.0% (fiscal year 2025). 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 Koenig & Bauer AG (0G15)?
The return on equity (ROE) of Koenig & Bauer AG is −5.7% (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 Koenig & Bauer AG (0G15)?
On an EBIT basis the return on assets of Koenig & Bauer AG is 1.0% (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 Koenig & Bauer AG (0G15)?
The operating margin of Koenig & Bauer AG is −7.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Koenig & Bauer AG (0G15)?
Revenue at Koenig & Bauer AG is growing +3.2% versus a year earlier (3y avg +3.2%). 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 Koenig & Bauer AG (0G15)?
Earnings per share at Koenig & Bauer AG are growing +25.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Koenig & Bauer AG (0G15) carry?
The net debt of Koenig & Bauer AG is €176M (fiscal year 2025, ≈ 15.8 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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