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2G Energy AG (2GB) Fair Value & Analysis

Industrials · DE · Market cap €1.1B

2E 2G Energy AG 2GB · XETRA
Price€57.50
Fair Value€10.57
Upside-81.6%
Quality48/100
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Expensive Growth
Thin margins · 4.1% net margin
Low debt · negative free cash flow
0.29% dividend yield
Trails peers (4/13)
Moderate moat 45/100
Evidence: High Range €7.45 – €13.34 Share as image

Fair value as of: Jul 13, 2026

From 17 valuation models · updated 28 days ago

Fair value updated Jul 13, 2026, revised from €27.70 to €10.57 (−61.8%) since Jul 7, 2026. Share price −7.8% over the past month.

Below-average quality, and screening another 82% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€13.34). The favourable scenario is already priced in.
  • Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

€74.10 €18.52 Fair Value €10.57 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range €18.52 – €74.10 · fair‑value band €7.45 – €13.34 · the €57.50 price screens above the €10.57 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

2G Energy AG (2GB) currently trades at €57.50, while our model-based Fair Value estimate is €10.57, implying the stock looks roughly 81.6% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, 2G Energy AG generated revenue of €416M at a net margin of 5.9%. Revenue grew 29.8% year over year. It earns a return on equity of 18.3%. Net debt stands at €10.2M. Fundamentals as of Jul 13, 2026

Our scenario range runs from €7.45 (bear case) to €13.34 (bull case); at €57.50, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 22% below its 52-week high and 131% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -82%, 2GB screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income €7.32 €8.05 €10.97 76
ROIC Compounder €9.00 €11.10 €13.83 72
Gordon GGM €1.55 €2.80 €3.85 70
All 17 models by family
DCF Models
Owner Earnings €10.42 €16.61 €25.87 31
Earnings-Based
Graham-Dodd €6.36 €27.84 €38.09 54
Lynch FV €7.18 €10.26 €13.34 50
PEG = 1.0 €7.18 €10.26 €13.34 46
EPV €8.92 €10.06 €11.02 59
Dividend Discount
Gordon GGM €1.55 €2.80 €3.85 70
DDM Multi-Stage €1.55 €2.56 €2.99 61
Multiples
P/E Multiple €14.72 €19.63 €24.54 63
P/S Multiple €11.92 €15.89 €19.86 58
P/B Multiple €11.92 €15.89 €19.86 55
EV/EBIT €20.22 €26.78 €33.34 53
EV/EBITDA €20.48 €27.13 €33.78 54
EV/Revenue €14.59 €20.61 €26.63 43
Asset-Based
NCAV (Graham) €4.36 €5.84 €8.71 50
Economic Profit
Residual Income €7.32 €8.05 €10.97 76
ROIC Compounder €9.00 €11.10 €13.83 72
Growth Earnings
Growth-Adj P/E €11.88 €16.97 €22.06 68

Widest divergence: Multiples (€19.63) versus Dividend Discount (€2.56). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) €405M
Revenue growth (YoY) -6.2%
Net margin 4.1%
Return on equity 11.1%
Free cash flow −€47.9M FY2025
P/E ratio 46.5
More key figures
Operating margin 8.4%
EPS (TTM) €1.37
Dividend yield 0.3%
EPS growth (YoY) +36.8%
Net debt €10.2M FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 47 · Market factors (momentum, volatility) 71

Profitability 51
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 56
Disciplined investing over empire-building
Low Volatility 44
Calm price path (market factor)
Momentum 85
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

2G Energy AG, together with its subsidiaries, manufactures and provides decentralized energy supply systems in Germany and internationally.

Full company description

2G Energy AG, together with its subsidiaries, manufactures and provides decentralized energy supply systems in Germany and internationally. The company offers g-box, a natural gas combined heat and power (CHP) unit with an electrical output range of 20 kW to 50 kW; aura, a CHP unit with an output range from 100 kW to 420 kW; agenitor, a CHP unit with a capacity of 75 kW to 500 kW; avus, a CHP unit with an electrical output range of 548 kW to 4,500 kW; and afilia, a large-scale heat pump for air-to-water and water-to-water units. It also provides spare parts; maintenance and repair services; installation, energy supply for data center, digital, control, custom, and H2-ready solutions; rental services for CHP systems; and GreenCube, which are turnkey energy centers for municipal heating planning, as well as operates a training center. In addition, the company offers accessories comprising balancing energy, partial load and zero feed-in operation, air-to-air heat exchangers, heat exchanger exploiting the calorific value, heat storage/distribution, micro gas network, and grid starting devices; temperature-oriented applications, which include steam generation, hot water, and heat exchanger for thermal oil, as well as combined cooling, heating, and power generation; emergency power and island mode operation; gas-related technology, such as gas blending, and biogas treatment and utilization; exhaust gas post treatment consisting of oxidation and SCR catalysts, and exhaust combustion system; and data interfaces. Its products are used in various applications, such as biogas and biomethane plants, data centers, educational facilities, farming, food and beverage industry, greenhouses, health and care, hotels and resorts, landfills and wastewater treatment, manufacturing industry, pools and leisure, trade and logistics, and utilities and energy service companies. 2G Energy AG was founded in 1995 and is headquartered in Heek, Germany.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2G Energy AG reported revenue of €398M in FY2025 versus €266M in FY2021, a compound +10.6%/yr. Reported net income was €16.8M in FY2025, compounding +7.4%/yr from FY2021.

Growth Quality 54/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€398M
Latest YoY
+6.1%
Avg. growth/yr (3Y)
+8.4%
Avg. growth/yr (5Y)
+10.1%
Avg. growth/yr (18Y)
+17.9%
Revenue +10.6%/yr
FY21 €266M
FY22 €313M
FY23 €365M
FY24 €376M
FY25 €398M
Net income +7.4%/yr
FY21 €12.6M
FY22 €16.4M
FY23 €17.9M
FY24 €23.7M
FY25 €16.8M

2GB screens 82% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "2G Energy AG Fair Value". https://www.fairvalue-calculator.com/stock/2GB

Peer Group

Specialty Industrial Machinery · 809 stocks

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.

Quality Score 48 · Below median
Fair Value upside −82% · Bottom 25%
Return on equity (TTM) 11% · Above median
Return on assets 6% · Above median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 8% · Above median
Revenue growth -6% · Below median
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 46.5× · Pricier than median
P/B 8.44× · Pricier than 75% of peers
P/S (TTM) 3.26× · Pricier than median
EV/EBITDA 37.2× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 0 · sector 23
PAST 44 · sector 28
HEALTH 99 · sector 96
DIVIDEND 6 · sector 24

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

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GE Vernova Inc 1GEV €887.60 €186.93 -79%
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Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is 2G Energy AG (2GB) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of €10.57 versus a price of €57.50, about −82% (overvalued).
What is the fair value of 2GB?
Our model-based fair value for 2G Energy AG is €10.57 (as of Jul 13, 2026), built from audited fundamentals. The current price is €57.50.
What is the quality score of 2GB?
2G Energy AG has a Quality Score of 48/100. 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 revenue of 2G Energy AG (2GB)?
2G Energy AG reported trailing-twelve-month revenue of about €416M (latest available figure, as of Jul 13, 2026).
What is the net profit margin of 2GB?
The net profit margin of 2G Energy AG is about 5.9%, meaning it keeps roughly 5.9% of revenue as net income. Based on the latest reported figures.
Does 2G Energy AG pay a dividend?
2G Energy AG currently shows a dividend yield of about 0.29% relative to its recent price (as of Jul 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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