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bet-at-home.com AG (ACX) Fair Value & Analysis

Consumer Cyclical · DE · Market cap €23.3M

BA bet-at-home.com AG ACX · XETRA
Price€2.86
Fair Value€5.50
Upside+92.3%
Quality95/100
Evidence: Medium Range €4.12 – €6.87

Fair value as of: Jun 25, 2026

From 14 valuation models · updated 4 days ago

Share price −4.8% over the past month.

Price vs Fair Value (12 months)

€3.41 €1.78 Fair Value €5.50 Jun 2025 Jun 2026

12‑month range €1.78 – €3.41 · fair‑value band €4.12 – €6.87 · the €2.86 price screens below the €5.50 fair value. As of Jun 25, 2026.

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Analysis

bet-at-home.com AG (ACX) currently trades at €2.86, while our model-based Fair Value estimate is €5.50 — implying the stock looks roughly 92.3% undervalued today. We read business quality at 95/100 (high quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium) — always confirm before acting.

Over the trailing twelve months, bet-at-home.com AG generated revenue of €45.5M at a net margin of 2.0%. Revenue declined 16.3% year over year. It earns a return on equity of 9.4%. The balance sheet holds a net cash position of €26.8M. Fundamentals as of Jun 25, 2026

Key figures & financial health

Revenue (TTM) €45.5M
Revenue growth (YoY) -16.3%
Net margin 2.0%
Return on equity 9.4%
Free cash flow −€1.4M FY2025
Operating margin -4.3%
More key figures
EPS (TTM) €-0.4600
EPS growth (YoY) +266%
Net cash €26.8M FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 25, 2026. TTM = trailing twelve months.

About the company

bet-at-home.com AG, through its subsidiaries, provides online sports betting and online casino services in Germany, Austria, Eastern Europe, and rest of Western Europe. The company offers pre-match and live betting; and holds online sports betting and gaming licenses for casino, games, and virtual sports. bet-at-home.com AG was founded in 1999 and is based in Düsseldorf, Germany.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

bet-at-home.com AG reported revenue of €36.9M in FY2025 versus €47.6M in FY2021, a compound −6.2%/yr. Reported net income was €2.3M in FY2025.

Revenue −6.2%/yr
FY21 €47.6M
FY22 €42.0M
FY23 €36.1M
FY24 €41.6M
FY25 €36.9M
Net income
FY21 −€16.3M
FY22 €11.9M
FY23 −€1.5M
FY24 −€4.5M
FY25 €2.3M

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Frequently asked questions

Is bet-at-home.com AG (ACX) undervalued?
As of Jun 25, 2026, our model estimates a fair value of €5.50 versus a price of €2.86 — about +92% (undervalued). Model-based estimate, not financial advice.
What is the fair value of ACX?
Our 21-model fair value for bet-at-home.com AG is €5.50 (as of Jun 25, 2026), built from audited fundamentals. The current price is €2.86.
What is the quality score of ACX?
bet-at-home.com AG has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of bet-at-home.com AG (ACX)?
bet-at-home.com AG reported trailing-twelve-month revenue of about €45.5M (latest available figure, as of Jun 25, 2026).
What is the net profit margin of ACX?
The net profit margin of bet-at-home.com AG is about 2.0%, meaning it keeps roughly 2.0% of revenue as net income. 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.