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TAG Immobilien AG (0JK4) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of TAG Immobilien AG €10.33, price €10.81, upside -4.4%, quality 46 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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Real Estate · GB · Home Germany · ISIN DE0008303504

TI Thin data Sep 24, 2026

TAG Immobilien AG

0JK4 · LSE

Low PriorityFair Value upside is limited and quality is weak.

·Fair value €10.33 · Fairly valued (−4.4%)
!Quality 46/100
!Mixed Growth (revenue 3y +2.2 %/yr)
!Thin margins · 8.9% net margin (TTM)
!Moderate debt
·3.7% dividend yield · Safety not assessed
!Moderate moat 53/100
!Evidence only low, so the estimate is less certain
!The models disagree: range €7.07 to €21.69
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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

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Price vs Fair Value

€25.63 €5.22 Fair Value €10.33 Jun 2021 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 €5.22 – €25.63 · fair‑value band €7.07 – €21.69 · the €10.81 price screens above the €10.33 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

TAG Immobilien AG, a real estate company, engages in the development, management, and sale of residential property portfolio in Germany. It is also involved in the rental business. The company was formerly known as TAG Tegernsee Immobilien-und Beteiligungs-Aktiengesellschaft and changed its name to TAG Immobilien AG in September 2008.

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TAG Immobilien AG, a real estate company, engages in the development, management, and sale of residential property portfolio in Germany. It is also involved in the rental business. The company was formerly known as TAG Tegernsee Immobilien-und Beteiligungs-Aktiengesellschaft and changed its name to TAG Immobilien AG in September 2008. TAG Immobilien AG was founded in 1882 and is headquartered in Hamburg, Germany.

Stock analysis

TAG Immobilien AG (0JK4) currently trades at €10.81, while our model-based Fair Value estimate is €10.33, so the stock looks roughly fairly valued today (gap 4.6%).

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Valuation

Bull case: the Multiples group reads highest at a median of €17.12 per share, and 5 of the 13 models we run sit above the €10.81 price.

Bear case: the Asset-Based group reads lowest at €5.74, and 8 of the 13 models stay below the price. Evidence for this calculation is low.

Scenario range: €7.07 (bear) to €21.69 (bull), the price of €10.81 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 46/100 (below-average quality), in the Real Estate sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

TAG Immobilien AG reported revenue of €426M in FY2020 versus €275M in FY2016, a compound +11.6%/yr. Reported net income was €394M in FY2020, compounding +18.2%/yr from FY2016.

Key figures

Market cap €3.3B · P/S ratio 3.27 · Dividend yield 3.7% · Net margin 92.3% · Return on equity 2.7% · Return on assets (EBIT) 10.3% · Operating margin 31.7% · Revenue (TTM) €1.0B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 33% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −48% fair-value upside, at −4%, 0JK4 screens cheaper than that median.

Fair Value models

Bear €7.07 Fair Value €10.33 Bull €21.69
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 n/a n/a €1.07 73
Residual Income €8.46 €10.46 €14.54 72
Growth DCF n/a n/a €0.5700 71
All 16 models by family
DCF Models
FCF DCF n/a n/a €1.07 73
5Y Revenue Exit n/a €0.7800 >€3.12 66
5Y EBITDA Exit €7.01 €18.36 €31.39 68
10Y Revenue Exit n/a n/a €3.43 61
10Y EBITDA Exit €2.77 €11.32 €22.45 59
Dividend Discount
Gordon GGM €3.93 €7.69 €11.87 64
DDM Multi-Stage €3.93 €5.97 €8.05 64
Multiples
P/S Multiple €6.84 €9.12 €11.40 58
P/B Multiple €12.84 €17.12 €21.40 55
EV/EBIT €23.20 €33.75 €44.31 65
EV/EBITDA €16.45 €24.75 €33.06 66
EV/Revenue n/a €1.36 €4.31 50
Asset-Based
NCAV (Graham) €4.28 €5.74 €8.56 54
Growth DCF
Growth DCF n/a n/a €0.5700 71
Rev-Margin DCF n/a €0.7900 >€3.16 66
Economic Profit
Residual Income €8.46 €10.46 €14.54 72

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Quality Score breakdown

Overall quality 46/100

Of which business quality 46 · Market factors (momentum, volatility) 22

Profitability 43
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 29
Balance sheet, leverage, solvency risk
Investment 52
Disciplined investing over empire-building
Low Volatility 47
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 3
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. 45/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+5.2%
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.
+2.2%
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.
122.2% (2016) → 136.8% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

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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.Real Estate - Diversified · 129 stocks

Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 46 · Below median
Fair Value upside +4.7% · Above median
Profitability
Return on equity (TTM) 2.7% · Below median
Return on assets 2.3% · Above median
Net margin (TTM) 8.9% · Below median
Operating margin (TTM) 31.7% · Above median
Growth and dividend
Revenue growth 1.1% · Below median
Dividend yield (TTM) 3.7% · Above median
Balance sheet
Debt / equity 1.11× · Highest 25%

Valuation Multiplesvs Real Estate - Diversified median · lower = cheaper

P/B 1.47× · Priciest 25%
P/S (TTM) 3.80× · Pricier than median
EV/EBITDA 19.7× · Pricier than median

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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10 more Real Estate - Diversified stocks, each showing price versus our Fair Value estimate.

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Central Pattana Public Company CPN 63.00 THB 71.37 THB +13%
The Phoenix Mills Limited PHOENIXLTD ₹1,978 ₹405.25 −80%
Prestige Estates Projects Limited PRESTIGE ₹1,478 ₹297.85 −80%
Umm Al Qura for Development and Construction Company 4325 17.15 SAR 15.41 SAR −10%
Hainan Airport Infrastructure Co 600515 ¥2.69 ¥0.7900 −71%
Allreal Holding ALLN CHF 193.00 CHF 84.23 −56%
Parque Arauco S.A PARAUCO 3,630 CLP 3,708 CLP +2%
The St. Joe Company JOE $66.01 $34.53 −48%

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TAG Immobilien AG · Fair Value
€10.33 −4%Fair Value
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Cite: Fair Value Calculator (2026). "TAG Immobilien AG Fair Value". https://www.fairvalue-calculator.com/stock/0JK4

Frequently asked questions

Is TAG Immobilien AG (0JK4) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €10.33 versus a price of €10.81, about −4% upside (fairly valued).
What is the fair value of 0JK4?
Our model-based fair value for TAG Immobilien AG is €10.33 (as of Sep 24, 2026), built from audited fundamentals. The current price: €10.81.
What is the quality score of 0JK4?
TAG Immobilien AG has a Quality Score of 46/100. 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 TAG Immobilien AG (0JK4)?
Our model-based price target is the fair value of €10.33 (as of Sep 24, 2026) from 16 valuation models. Cautious scenario €7.07, optimistic scenario €21.69. It is a calculation from audited fundamentals, not an analyst target.
What is the TAG Immobilien AG stock forecast for 2026?
Our models put fair value at €10.33, about −4% upside versus a price of €10.81 (fairly valued). Cautious scenario €7.07, optimistic scenario €21.69. The calculation is refreshed regularly with new filings.
What is the revenue of TAG Immobilien AG (0JK4)?
TAG Immobilien AG reported trailing-twelve-month revenue of about €1.0B (latest available figure, as of Sep 24, 2026).
Does TAG Immobilien AG pay a dividend?
TAG Immobilien AG currently shows a dividend yield of about 3.70% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of TAG Immobilien AG (0JK4)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TAG Immobilien AG it is €10.33 per share (as of Sep 24, 2026), against a price of €10.81. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is TAG Immobilien AG stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0JK4 trades above its calculated fair value: price €10.81, fair value €10.33, a gap of about −4% (fairly valued). 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 0JK4?
No. The price is what the market pays today (€10.81); the fair value is what the company's own numbers justify (€10.33). For TAG Immobilien AG the two are €0.4800 per share apart. That gap is exactly why we show both numbers side by side.
How much is TAG Immobilien AG worth?
The market values TAG Immobilien AG at about €3.3B (market capitalisation, as of Sep 24, 2026). Per share that is €10.81; our models calculate a fair value of €10.33 per share.
What do the bullish and bearish scenarios say about 0JK4?
Our models span a range for TAG Immobilien AG: cautious scenario €7.07, base €10.33, optimistic €21.69 per share (as of Sep 24, 2026, price €10.81). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of TAG Immobilien AG (0JK4)?
Balance-sheet figures for TAG Immobilien AG (as of Sep 24, 2026): return on equity 2.7%, debt of 1.11 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 0JK4 from its 52-week high?
TAG Immobilien AG trades at €10.81, about 33% below its 52-week high of €16.25 and at the low of €10.81 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €10.33 is for.
Which stocks are comparable to TAG Immobilien AG?
From the same area (Real Estate) we also value Henderson Land Development Company, Swiss Prime Site AG, Central Pattana Public Company, The Phoenix Mills 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 TAG Immobilien AG stock attractive at the current price?
The data as of Sep 24, 2026: price €10.81, calculated fair value €10.33 (−4%), Quality Score 46/100, from 16 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 0JK4 calculated?
We run TAG Immobilien AG through 16 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 €10.33, 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. TAG Immobilien 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 TAG Immobilien AG (0JK4)?
The closing price on Oct 2, 2026 was €10.81. Our model-based fair value is €10.33, about −4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TAG Immobilien AG right now?
The model range is unusually wide (€7.07 to €21.69). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of TAG Immobilien AG

How large is the market capitalisation of TAG Immobilien AG (0JK4)?
The market capitalisation of TAG Immobilien AG is €3.3B. 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 TAG Immobilien AG (0JK4)?
The price-to-sales ratio of TAG Immobilien AG is 3.27 (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 TAG Immobilien AG (0JK4)?
The dividend yield of TAG Immobilien AG is 3.7%. 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 TAG Immobilien AG (0JK4)?
The net margin of TAG Immobilien AG is 92.3% (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 TAG Immobilien AG (0JK4)?
The return on equity (ROE) of TAG Immobilien AG is 2.7% (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 TAG Immobilien AG (0JK4)?
On an EBIT basis the return on assets of TAG Immobilien AG is 10.3% (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 TAG Immobilien AG (0JK4)?
The operating margin of TAG Immobilien AG is 31.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TAG Immobilien AG (0JK4)?
Revenue at TAG Immobilien AG is growing +1.1% versus a year earlier (3y avg +2.2%). 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 TAG Immobilien AG (0JK4)?
Earnings per share at TAG Immobilien AG are growing −19.0% versus a year earlier. How much earnings per share grew versus a year earlier.
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