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FinLab AG (A7A) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of FinLab AG €26.90, price €14.05, upside +91.5%, quality 47 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? No
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Financial Services · DE · ISIN DE0001218063

FA Thin data May 31, 2026

FinLab AG

A7A · XETRA

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value €26.90 · Strongly undervalued (+91%)
!Quality 47/100
!Mixed Growth (revenue 5y +0.2 %/yr)
!Low debt · negative free cash flow
!Trails peers (2/8)
!Narrow moat 12/100
!Insider activity 35/100
!Evidence only low, so the estimate is less certain
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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

€25.20 €8.65 Fair Value €26.90 Feb 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of May 31, 2026.

How to read this chart

60‑month range €8.65 – €25.20 · fair‑value band €22.81 – €30.14 · the €14.05 price screens below the €26.90 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of May 31, 2026.

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Company profile

Heliad AG is a venture capital firm specializing in multistage, pre-seed, startups, series A-C until IPO, early venture and growth capital investments. The firm also invests in direct and indirect funds. It prefers to invest in blockchain, online financial services and financial technology and software sectors.

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Heliad AG is a venture capital firm specializing in multistage, pre-seed, startups, series A-C until IPO, early venture and growth capital investments. The firm also invests in direct and indirect funds. It prefers to invest in blockchain, online financial services and financial technology and software sectors. The firm also invests in AI agents and robotics, next-gen finance, AI health, energy transition, and seamless mobility sectors. It seeks to invest globally with a primary focus on western Europe and DACH region. For funds of fund investments, the firm seeks to invest in funds specializing in fintech companies especially in the US and Asia. It also considers co-investment opportunities. It seeks to take minority and majority stakes in venture capital investments. Heliad AG makes balance sheet investments, was founded in 2003 and is based in Frankfurt am Main, Germany.

Stock analysis

FinLab AG (A7A) currently trades at €14.05, while our model-based Fair Value estimate is €26.90, implying the stock looks roughly 47.8% undervalued today.

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Valuation

How firm this estimate is: it rests on 11 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: €22.81 (bear) to €30.14 (bull), the price of €14.05 sits below 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 47/100 (below-average quality), in the Financial Services sector.

Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.

FinLab AG reported revenue of €871K in FY2025 versus €5.4M in FY2021, a compound −36.7%/yr. Reported net income was €107M in FY2025.

Key figures

Market cap €131M · P/E ratio 1.1 · EPS (TTM) €12.67 · Return on equity −6.4% · Return on assets (EBIT) 30.9% · Operating margin −4,191% · Revenue (TTM) €328K · Revenue growth (YoY) −98.7%.

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 14% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −4% fair-value upside, at 91%, A7A screens cheaper than that median.

Fair Value models

Bear €22.81 Fair Value €26.90 Bull €30.14
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 (€9.30 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. 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
P/B Multiple €5.12 €6.83 €8.54 55
NCAV (Graham) €4.02 €5.39 €8.04 54
All 2 models by family
Multiples
P/B Multiple €5.12 €6.83 €8.54 55
Asset-Based
NCAV (Graham) €4.02 €5.39 €8.04 54

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Quality Score breakdown

Overall quality 47/100

Of which business quality 52 · Market factors (momentum, volatility) 50

Profitability 60
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 38
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. 55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
+8.7%
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.
+0.2%
Revenue growth 18 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.
+18.6%
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.
≈ +27.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+27.9%
Dividend (yield on the price)0.0%
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.28% vs 24%, picking up
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.−20% → 12,544%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 4.7%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Approximate: the rate leans on 2025, which sits 532% above its own trend.

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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.Asset Management · 657 stocks

Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 46 · Bottom 25%
Fair Value upside +94% · Top 25%
Profitability
Return on assets −3% · Bottom 25%
Growth and dividend
Revenue growth −99% · Bottom 25%
Balance sheet
Debt / equity 0.31× · Above median

Valuation Multiplesvs Asset Management median · lower = cheaper

P/E (TTM) 1.1× · Cheapest 25%
P/B 2.06× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 54
FUTURE (revenue growth)0 · sector 21
PAST (return on equity)0 · sector 23
HEALTH (low debt)85 · sector 95
DIVIDEND (yield)0 · sector 81

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

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $124.01 $52.88 −57%
Brookfield Corporation BN $37.85 $13.75 −64%
KKR & Co KKR $97.21 $29.25 −70%
Apollo Global Management, Inc APO $124.36 $229.64 +85%
State Street Corporation STT $179.95 $138.33 −23%
Ameriprise Financial, Inc AMP $502.79 $579.51 +15%
Ares Management Corporation ARES $124.72 $119.25 −4%
Northern Trust Corporation NTRS $173.40 $122.02 −30%
Raymond James Financial, Inc RJF $158.23 $312.27 +97%
T. Rowe Price Group TROW $104.57 $209.14 +100%

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FinLab AG · Fair Value
€26.90 +48%Fair Value
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Cite: Fair Value Calculator (2026). "FinLab AG Fair Value". https://www.fairvalue-calculator.com/stock/A7A

Frequently asked questions

Is FinLab AG (A7A) overvalued or undervalued?
As of May 31, 2026, our model estimates a fair value of €26.90 versus a price of €14.05, about +91% upside (undervalued).
What is the fair value of A7A?
Our model-based fair value for FinLab AG is €26.90 (as of May 31, 2026), built from audited fundamentals. The current price: €14.05.
What is the quality score of A7A?
FinLab AG has a Quality Score of 47/100. 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 FinLab AG (A7A)?
Our model-based price target is the fair value of €26.90 (as of May 31, 2026) from 2 valuation models. Cautious scenario €22.81, optimistic scenario €30.14. It is a calculation from audited fundamentals, not an analyst target.
What is the FinLab AG stock forecast for 2026?
Our models put fair value at €26.90, about +91% upside versus a price of €14.05 (undervalued). Cautious scenario €22.81, optimistic scenario €30.14. The calculation is refreshed regularly with new filings.
What is the revenue of FinLab AG (A7A)?
FinLab AG reported trailing-twelve-month revenue of about €328K (latest available figure, as of May 31, 2026).
What is the intrinsic value of FinLab AG (A7A)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FinLab AG it is €26.90 per share (as of May 31, 2026), against a price of €14.05. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is FinLab AG stock overvalued or undervalued in 2026?
As of May 31, 2026, A7A trades below its calculated fair value: price €14.05, fair value €26.90, a gap of about +91% (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 A7A?
No. The price is what the market pays today (€14.05); the fair value is what the company's own numbers justify (€26.90). For FinLab AG the two are €12.85 per share apart. That gap is exactly why we show both numbers side by side.
How much is FinLab AG worth?
The market values FinLab AG at about €131M (market capitalisation, as of May 31, 2026). Per share that is €14.05; our models calculate a fair value of €26.90 per share.
What do the bullish and bearish scenarios say about A7A?
Our models span a range for FinLab AG: cautious scenario €22.81, base €26.90, optimistic €30.14 per share (as of May 31, 2026, price €14.05). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of A7A?
FinLab AG trades at a price-to-earnings ratio of 1.1 (as of May 31, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €26.90 is built from several models across several years. Other multiples: P/B 2.1.
How solid is the balance sheet of FinLab AG (A7A)?
Balance-sheet figures for FinLab AG (as of May 31, 2026): return on equity −6.4%, debt of 0.31 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is A7A from its 52-week high?
FinLab AG trades at €14.05, about 14% below its 52-week high of €16.40 and 13% above the low of €12.40 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €26.90 is for.
Which stocks are comparable to FinLab AG?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, 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 FinLab AG stock attractive at the current price?
The data as of May 31, 2026: price €14.05, calculated fair value €26.90 (+91%), Quality Score 47/100, from 2 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 A7A calculated?
We run FinLab AG through 2 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 €26.90, 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 13.0 % above its aggregate fair value. FinLab AG currently trades 91 % 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 FinLab AG (A7A)?
The closing price on Sep 24, 2026 was €14.05. Our model-based fair value is €26.90, about +91% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FinLab AG right now?
The price is below even our cautious bear case (€22.81). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality. 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 FinLab AG (A7A) come from?
Earnings per share at FinLab AG grew +15.6 % a year from 2015 to 2025. Broken into its drivers: revenue per share −14.5 %, EBIT margin +56.0 %, tax rate +0.2 %, residual (interest, one-offs) −13.5 %. 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 FinLab AG

How large is the market capitalisation of FinLab AG (A7A)?
The market capitalisation of FinLab AG is €131M. 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 are the earnings per share of FinLab AG (A7A)?
Earnings per share at FinLab AG are €12.67 (price ÷ EPS = P/E 1.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of FinLab AG (A7A)?
The return on equity (ROE) of FinLab AG is −6.4% (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 FinLab AG (A7A)?
On an EBIT basis the return on assets of FinLab AG is 30.9% (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 FinLab AG (A7A)?
The operating margin of FinLab AG is −4,191% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FinLab AG (A7A)?
Revenue at FinLab AG is growing −98.7% versus a year earlier (3y avg −24.9%). 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 FinLab AG (A7A)?
Earnings per share at FinLab AG are growing −1.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does FinLab AG (A7A) generate?
The free cash flow of FinLab AG is −€1.4M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does FinLab AG (A7A) carry?
The net debt of FinLab AG is €20.2M (fiscal year 2025). 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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