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Partners Group (0QOQ) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Partners Group CHF 1,027, price CHF 601, upside +70.8%, quality 74 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Financial Services · GB · Home Switzerland · ISIN CH0024608827

PG Broad data Sep 29, 2026

Partners Group

0QOQ · LSE

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value CHF 1,027 · Strongly undervalued (+70.8%)
✓Quality 74/100
!Mixed Growth (revenue 5y +11.8 %/yr)
✓Highly profitable · 49.4% net margin (TTM)
✓generates free cash flow
✓7.7% dividend yield · Sustainable
✓Wide moat 96/100

What runs behind every stock

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

Price vs Fair Value

CHF 1,358 CHF 492.06 Fair Value CHF 1,027 Jun 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.

How to read this chart

60‑month range CHF 492.06 – CHF 1,358 · fair‑value band CHF 461.45 – CHF 1,653 · the CHF 601.20 price screens below the CHF 1,027 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 29, 2026.

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Company profile

Partners Group Holding AG is a private equity firm specializing in direct, secondary, and primary investments across private equity, private real estate, private infrastructure, and private debt. The firm also makes fund of funds investments.

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Partners Group Holding AG is a private equity firm specializing in direct, secondary, and primary investments across private equity, private real estate, private infrastructure, and private debt. The firm also makes fund of funds investments. It seeks to invest in distressed, special situations, later stage, mature, early venture, mid venture, late venture, industry consolidation, buyouts, recapitalizations, emerging growth, and seed capital. For direct private equity investments, the firm invests directly into Technology, Health & Life, Goods & Products, and Services. For its private real estate direct investment practice, it focuses on seeking out properties globally. It also makes investments in private real estate secondaries and primaries and focuses on distressed assets in United States, Europe, and Japan. Under private debt, the firm provides senior debt financing, junior debt lending, broadly syndicated loan, mezzanine financing, alongside secondaries and primaries, CLO debt securities and equity, and participates in add on acquisitions in in first/second lien. It seeks to invest in upper middle market in Americas, Europe, and Asia. In energy infrastructure, the firm seeks to invest in the areas of midstream, power generation, gas transportation, gas export infrastructure, renewable energy including wind and solar energy. The firm seeks to invest globally with a focus on South Africa, China, India, Philippines, Austria, France, Germany, Switzerland, Russia, Brazil, and Chile. It seeks to invest between 0.50 million ($0.68 million) and 100 million ($137 million) in equity investment in companies with enterprise value between 100 million ($137 million) to 2 billion ($2740 million). While investing in funds, it invests in venture capital, mezzanine, private equity, real estate, distressed, turnaround, and secondary funds. It typically invests between 20 million ($21.17) and 100 million ($105.87) per fund. The firm is a value-add investor targeting majority and minority stake in its investee companies. Partne

Stock analysis

Partners Group (0QOQ) currently trades at CHF 601.20, while our model-based Fair Value estimate is CHF 1,027, implying the stock looks roughly 41.5% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of CHF 1,075 per share, and 9 of the 13 models we run sit above the CHF 601.20 price.

Bear case: the Multiples group reads lowest at CHF 114.95, and 4 of the 13 models stay below the price. Evidence for this calculation is high.

Scenario range: CHF 461.45 (bear) to CHF 1,653 (bull), the price of CHF 601.20 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 74/100 (solid quality), in the Financial Services sector.

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

Partners Group reported revenue of CHF 2.8B in FY2025 versus CHF 2.9B in FY2021, a compound −1.1%/yr. Reported net income was CHF 1.3B in FY2025, compounding −8.2%/yr from FY2021.

Key figures

Market cap CHF 23.9B · P/E ratio 0.1 · P/S ratio 0.06 · EPS (TTM) CHF 55.12 · Dividend yield 7.7% · Net margin 45.0% · Return on equity 54.8% · Return on assets (EBIT) 15.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 65 out of 100 (medium confidence).

What moves the price

The share trades about 42% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at 71%, 0QOQ screens cheaper than that median.

Fair Value models

Bear CHF 461.45 Fair Value CHF 1,027 Bull CHF 1,653
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (CHF 6.90 per share) are deliberately not added. 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
Growth DCF CHF 794.75 CHF 1,594 CHF 2,853 72
Residual Income CHF 286.32 CHF 341.78 CHF 680.93 72
Rev-Margin DCF CHF 358.89 CHF 547.15 CHF 778.94 70
All 13 models by family
DCF Models
Owner Earnings CHF 740.95 CHF 1,490 CHF 2,924 69
5Y P/E Exit CHF 560.46 CHF 989.87 CHF 1,502 67
10Y P/E Exit CHF 636.64 CHF 1,075 CHF 1,737 60
Earnings-Based
Graham-Dodd CHF 321.83 CHF 1,865 CHF 2,595 63
Lynch FV CHF 526.76 CHF 752.51 CHF 978.27 61
Dividend Discount
Gordon GGM CHF 376.37 CHF 782.55 CHF 1,241 66
DDM Multi-Stage CHF 376.37 CHF 659.87 CHF 821.31 66
Multiples
P/E Multiple CHF 461.45 CHF 615.26 CHF 769.08 63
P/B Multiple CHF 86.21 CHF 114.95 CHF 143.69 55
Asset-Based
NCAV (Graham) CHF 41.05 CHF 55.01 CHF 82.11 51
Growth DCF
Growth DCF CHF 794.75 CHF 1,594 CHF 2,853 72
Rev-Margin DCF CHF 358.89 CHF 547.15 CHF 778.94 70
Economic Profit
Residual Income CHF 286.32 CHF 341.78 CHF 680.93 72

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Quality Score breakdown

Overall quality 74/100

Of which business quality 69 · Market factors (momentum, volatility) 19

Profitability 79
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 86
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 33
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 43
Share count: buybacks or dilution?

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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. 87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+18.0%
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.
+10.2%
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.
+11.8%
Start year 2020 (pandemic). Over 10 years: +14.4% a year
Revenue growth 21 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.
+16.8%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−85.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−93.1%
Dividend (yield on the price)7.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−93.1% vs 12.6%, slowing
Profit margin 2020 to 2025 ⓘ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% → 58%
Start year 2020 (pandemic)

Growth Forecast

Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−2.3%
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.
+3.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (Switzerland: IMF forecast 0.6% a year to 2030, 0.8% from 2016 to 2025) that is about −2.9% a year for the price and +3.0% for the forecasts.
Forecast 2026 (sales)−14.5%
Forecast 2027 (sales)+10.3%
Projected 2028 (sales)+9.3%
Projected 2029 (sales)+8.2%
Projected 2030 (sales)+7.2%

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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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Cite: Fair Value Calculator (2026). "Partners Group Fair Value". https://www.fairvalue-calculator.com/stock/0QOQ

Frequently asked questions

Is Partners Group (0QOQ) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of CHF 1,027 versus a price of CHF 601.20, about +71% upside (undervalued).
What is the fair value of 0QOQ?
Our model-based fair value for Partners Group is CHF 1,027 (as of Sep 29, 2026), built from audited fundamentals. The current price: CHF 601.20.
What is the quality score of 0QOQ?
Partners Group has a Quality Score of 74/100. 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 Partners Group (0QOQ)?
Our model-based price target is the fair value of CHF 1,027 (as of Sep 29, 2026) from 13 valuation models. Cautious scenario CHF 461.45, optimistic scenario CHF 1,653. It is a calculation from audited fundamentals, not an analyst target.
What is the Partners Group stock forecast for 2026?
Our models put fair value at CHF 1,027, about +71% upside versus a price of CHF 601.20 (undervalued). Cautious scenario CHF 461.45, optimistic scenario CHF 1,653. The calculation is refreshed regularly with new filings.
What is the revenue of Partners Group (0QOQ)?
Partners Group reported trailing-twelve-month revenue of about CHF 2.6B (latest available figure, as of Sep 29, 2026).
Does Partners Group pay a dividend?
Partners Group currently shows a dividend yield of about 7.65% relative to its recent price (as of Sep 29, 2026).
What growth is priced into Partners Group (0QOQ)?
For today's price to be fair in a discounted-cash-flow model, Partners Group would have to grow free cash flow by -2.3 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.8 % per year. As of Sep 29, 2026.
What discount rate (WACC) does the fair value of 0QOQ use?
Our models discount Partners Group at 9.7 %: a base by market capitalisation (large), damped by beta 0.95, 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 Partners Group that is -2.3 % per year a year over ten years, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has Partners Group (0QOQ) delivered so far?
Over the past 5 years revenue at Partners Group grew +11.8 % a year. The price currently implies -2.3 % 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 Partners Group (0QOQ) growing?
The median revenue growth in the sector is +7.3 % a year. That is the yardstick for the growth priced into Partners Group (-2.3 % 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 Partners Group (0QOQ)?
The free-cash-flow yield on the price is 9.34 %: that much free cash flow Partners Group produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Partners Group (0QOQ)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Partners Group it is CHF 1,027 per share (as of Sep 29, 2026), against a price of CHF 601.20. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Partners Group stock overvalued or undervalued in 2026?
As of Sep 29, 2026, 0QOQ trades below its calculated fair value: price CHF 601.20, fair value CHF 1,027, a gap of about +71% (undervalued). 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 0QOQ?
No. The price is what the market pays today (CHF 601.20); the fair value is what the company's own numbers justify (CHF 1,027). For Partners Group the two are CHF 425.62 per share apart. That gap is exactly why we show both numbers side by side.
How much is Partners Group worth?
The market values Partners Group at about CHF 23.9B (market capitalisation, as of Sep 29, 2026). Per share that is CHF 601.20; our models calculate a fair value of CHF 1,027 per share.
What do the bullish and bearish scenarios say about 0QOQ?
Our models span a range for Partners Group: cautious scenario CHF 461.45, base CHF 1,027, optimistic CHF 1,653 per share (as of Sep 29, 2026, price CHF 601.20). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0QOQ from its 52-week high?
Partners Group trades at CHF 601.20, about 42% below its 52-week high of CHF 1,033 and 22% above the low of CHF 492.06 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 1,027 is for.
Which stocks are comparable to Partners Group?
From the same area (Financial Services) we also value Blackstone Inc, KKR & Co, Brookfield Corporation, Apollo Global Management, Inc, 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 Partners Group stock attractive at the current price?
The data as of Sep 29, 2026: price CHF 601.20, calculated fair value CHF 1,027 (+71%), Quality Score 74/100, from 13 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 0QOQ calculated?
We run Partners Group through 13 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 CHF 1,027, 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. Partners Group currently trades 41 % below its own fair value, and the market average says nothing about that. 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 Partners Group (0QOQ)?
The closing price on Oct 2, 2026 was CHF 601.20. Our model-based fair value is CHF 1,027, about +71% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Partners Group right now?
The rarer combination: high quality (74/100) AND below fair value. That earns a closer look rather than a quick verdict. The model range is unusually wide (CHF 461.45 to CHF 1,653). The outcome hinges heavily on assumptions, so read the point estimate with caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Partners Group (0QOQ) come from?
Earnings per share at Partners Group grew +11.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +13.1 %, EBIT margin +0.9 %, tax rate −1.0 %, residual (interest, one-offs) −1.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Partners Group

How large is the market capitalisation of Partners Group (0QOQ)?
The market capitalisation of Partners Group is CHF 23.9B. 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/E ratio of Partners Group (0QOQ)?
The price-to-earnings ratio of Partners Group is 0.1 (as of Jul 30, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Partners Group (0QOQ)?
The price-to-sales ratio of Partners Group is 0.06 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Partners Group (0QOQ)?
Earnings per share at Partners Group are CHF 55.12 (price ÷ EPS = P/E 0.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Partners Group (0QOQ)?
The dividend yield of Partners Group is 7.7% (payout 83.5%). 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 Partners Group (0QOQ)?
The net margin of Partners Group is 45.0% (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 Partners Group (0QOQ)?
The return on equity (ROE) of Partners Group is 54.8% (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 Partners Group (0QOQ)?
On an EBIT basis the return on assets of Partners Group is 15.7% (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 Partners Group (0QOQ)?
The operating margin of Partners Group is 60.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Partners Group (0QOQ)?
Revenue at Partners Group is growing +20.1% versus a year earlier (3y avg +10.2%). 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 Partners Group (0QOQ)?
Earnings per share at Partners Group are growing +11.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Partners Group (0QOQ) carry?
The net debt of Partners Group is CHF 2.2B (fiscal year 2025, ≈ 1.5 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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