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H&R GmbH & Co (2HRA) Fair Value & Analysis

Basic Materials · DE · Market cap €223M

HR H&R GmbH & Co 2HRA · XETRA
Price€6.04
Fair Value€5.70
Upside-5.6%
Quality46/100
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Mixed Growth
Loss-making · -3.1% net margin
Low debt · generates free cash flow
Trails peers (5/13)
Narrow moat 19/100
Evidence: Medium Range €5.70 – €5.98 Share as image

Fair value as of: Jul 13, 2026

From 15 valuation models · updated 28 days ago

Fair value updated Jul 13, 2026, revised from €2.85 to €5.70 (+100.0%) since Jun 25, 2026. Share price +0.7% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • The models converge in a tight band (€5.70 to €5.98), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

€9.66 €3.20 Fair Value €5.70 Apr 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 €3.20 – €9.66 · fair‑value band €5.70 – €5.98 · the €6.04 price screens above the €5.70 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

H&R GmbH & Co (2HRA) currently trades at €6.04, while our model-based Fair Value estimate is €5.70, implying the stock looks roughly 5.6% fairly valued today. The Quality Score stands at 46/100 (below-average quality), in the Basic Materials 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: medium).

Over the trailing twelve months, H&R GmbH & Co generated revenue of €1.2B at a net margin of -3.1%. Revenue declined 13.2% year over year. It earns a return on equity of -7.6%. Net debt stands at €112M. Fundamentals as of Jul 13, 2026

Our scenario range runs from €5.70 (bear case) to €5.98 (bull case); at €6.04, 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 near its 52-week high and 54% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -6%, 2HRA screens cheaper 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 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. Evidence
Highest evidence
Growth DCF €9.16 €10.93 €13.28 80
Rev-Margin DCF €6.37 €7.82 €9.59 74
ROIC Compounder €2.54 €2.67 €2.78 72
All 15 models by family
DCF Models
FCF DCF €9.03 €10.92 €13.61 38
5Y Revenue Exit €6.37 €7.63 €9.30 39
5Y EBITDA Exit €11.41 €16.30 €22.28 41
10Y Revenue Exit €7.50 €8.71 €9.99 36
10Y EBITDA Exit €10.23 €13.62 €17.54 37
Earnings-Based
EPV €2.54 €2.67 €2.78 59
Dividend Discount
Gordon GGM €0.7000 €0.8700 €1.02 70
DDM Multi-Stage €0.7000 €0.8800 €1.06 61
Multiples
EV/EBIT €4.75 €5.86 €6.98 53
EV/EBITDA €15.34 €19.98 €24.63 54
EV/Revenue €4.30 €5.55 €6.79 43
Asset-Based
NCAV (Graham) €5.05 €6.76 €10.09 50
Growth DCF
Growth DCF €9.16 €10.93 €13.28 80
Rev-Margin DCF €6.37 €7.82 €9.59 74
Economic Profit
ROIC Compounder €2.54 €2.67 €2.78 72

Widest divergence: DCF Models (€10.92) versus Dividend Discount (€0.8700). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €1.2B
Revenue growth (YoY) -13.2%
Net margin -3.1%
Return on equity -7.6%
Free cash flow €37.5M FY2025
Operating margin -0.2%
More key figures
EPS (TTM) €-0.9900
EPS growth (YoY) +100%
Net debt €112M FY2025

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

Quality Score breakdown

Overall quality 46/100

Of which business quality 45 · Market factors (momentum, volatility) 74

Profitability 25
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 24
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 74
Price trend over the last 3–12 months (market factor)
52W Momentum 70
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

H&R GmbH & Co. KGaA engages in the production and sale of chemical-pharmaceutical raw materials and injection molded precision plastic parts worldwide. It operates through three segments: ChemPharm Refining, ChemPharm Sales, and Plastics.

Full company description

H&R GmbH & Co. KGaA engages in the production and sale of chemical-pharmaceutical raw materials and injection molded precision plastic parts worldwide. It operates through three segments: ChemPharm Refining, ChemPharm Sales, and Plastics. The ChemPharm Refining segment offers paraffins, white oils, plasticizers, base oils, lubricants, and other crude-oil based specialty products, as well as bitumen, feedstocks, and bunker fuel. The ChemPharm Sales segment provides paraffins, plasticizers, wax emulsions, and other crude-oil based specialty products. The Plastics segment develops, manufactures, and sells high-precision plastic parts. The company also provides petroleum jellies, cosmetic and pharmaceutical specialties, process oils, and cable fillers, as well as polymers and APP based products for the construction industry. The company was formerly known as H&R AG and changed its name to H&R GmbH & Co. KGaA in August 2016. H&R GmbH & Co. KGaA was founded in 1919 and is headquartered in Salzbergen, Germany.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

H&R GmbH & Co reported revenue of €1.2B in FY2025 versus €1.2B in FY2021, a compound +1.1%/yr. Reported net income was −€38.8M in FY2025.

Growth Quality 32/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€1.2B
Latest YoY
−7.2%
Avg. growth/yr (3Y) 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.
−7.6%
Avg. growth/yr (5Y) 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.
+7.3%
Avg. growth/yr (23Y) 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.
+8.5%
Revenue +1.1%/yr
FY21 €1.2B
FY22 €1.6B
FY23 €1.4B
FY24 €1.3B
FY25 €1.2B
Net income
FY21 €50.2M
FY22 €42.7M
FY23 €10.6M
FY24 €10.6M
FY25 −€38.8M
Character of growth · EPS growth decomposed (2015-2025) −13.3 % p.a.
Revenue per share +4.0 pp

of which total revenue +4.3 pp · buybacks/dilution −0.2 pp

EBIT margin −10.8 pp
Tax rate −3.3 pp
Residual (interest, one-offs) −3.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "H&R GmbH & Co Fair Value". https://www.fairvalue-calculator.com/stock/2HRA

Peer Group

Specialty Chemicals · 673 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 46 · Below median
Fair Value upside −6% · Above median
Return on assets 2% · Below median
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) -0% · Bottom 25%
Revenue growth -13% · Bottom 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/B 0.69× · Cheaper than 75% of peers
P/S (TTM) 0.21× · Cheaper than 75% of peers
P/FCF 6.9× · Pricier than median
EV/EBITDA 2.6× · Cheaper than 75% of peers
PEG 127.66× · 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 26 · sector 0
FUTURE 0 · sector 19
PAST 0 · sector 23
HEALTH 97 · sector 95
DIVIDEND 0 · sector 25

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 Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is H&R GmbH & Co (2HRA) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of €5.70 versus a price of €6.04, about −6% (fairly valued).
What is the fair value of 2HRA?
Our model-based fair value for H&R GmbH & Co is €5.70 (as of Jul 13, 2026), built from audited fundamentals. The current price is €6.04.
What is the quality score of 2HRA?
H&R GmbH & Co 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 revenue of H&R GmbH & Co (2HRA)?
H&R GmbH & Co reported trailing-twelve-month revenue of about €1.2B (latest available figure, as of Jul 13, 2026).
What is the net profit margin of 2HRA?
The net profit margin of H&R GmbH & Co is about -3.1%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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