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Montana Aerospace AG (AERO) Fair Value & Analysis

Industrials · CH · Market cap CHF 1.4B

MA Montana Aerospace AG AERO · SW
PriceCHF 25.30
Fair ValueCHF 6.33
Upside-75.0%
Quality51/100
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Mixed Growth
Thin margins · 0.2% net margin
Low debt · generates free cash flow
Trails peers (0/10)
Narrow moat 32/100
Evidence: High Range CHF 4.75 – CHF 7.92 Share as image

Fair value as of: Jul 20, 2026

From 23 valuation models · updated 20 days ago

Fair value updated Jul 20, 2026, revised from CHF 6.86 to CHF 6.33 (−7.7%) since Jul 14, 2026. Share price +14.2% over the past month.

A solid business, but screening 75% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (CHF 7.92). The favourable scenario is already priced in.
  • Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

CHF 40.45 CHF 10.10 Fair Value CHF 6.33 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range CHF 10.10 – CHF 40.45 · fair‑value band CHF 4.75 – CHF 7.92 · the CHF 25.30 price screens above the CHF 6.33 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

Montana Aerospace AG (AERO) currently trades at CHF 25.30, while our model-based Fair Value estimate is CHF 6.33, implying the stock looks roughly 75.0% overvalued today. The Quality Score stands at 51/100 (solid 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, Montana Aerospace AG generated revenue of CHF 997M at a net margin of 0.2%. Revenue grew 3.7% year over year. It earns a return on equity of 1.8%. Net debt stands at CHF 113M. Fundamentals as of Jul 20, 2026

Our scenario range runs from CHF 4.75 (bear case) to CHF 7.92 (bull case); at CHF 25.30, 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 28% below its 52-week high and 40% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -59% fair-value upside, at -75%, AERO 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
Growth DCF CHF 9.38 CHF 12.69 CHF 16.62 80
Rev-Margin DCF CHF 6.40 CHF 9.51 CHF 12.91 74
ROIC Compounder CHF 2.98 CHF 3.55 CHF 4.03 72
All 23 models by family
DCF Models
FCF DCF CHF 9.20 CHF 12.85 CHF 17.37 38
Owner Earnings CHF 4.11 CHF 5.97 CHF 8.28 31
5Y Revenue Exit CHF 6.40 CHF 9.33 CHF 12.84 39
5Y EBITDA Exit CHF 13.73 CHF 22.37 CHF 32.03 41
5Y P/E Exit CHF 5.74 CHF 8.16 CHF 10.50 38
10Y Revenue Exit CHF 7.35 CHF 10.04 CHF 13.22 36
10Y EBITDA Exit CHF 11.69 CHF 18.10 CHF 26.00 37
10Y P/E Exit CHF 7.12 CHF 9.32 CHF 11.66 35
Earnings-Based
Graham-Dodd CHF 2.22 CHF 5.26 CHF 6.78 54
PEG = 1.0 CHF 0.9100 CHF 1.30 CHF 1.69 46
EPV CHF 2.98 CHF 3.55 CHF 4.03 59
Multiples
P/E Multiple CHF 5.15 CHF 6.86 CHF 8.58 63
P/S Multiple CHF 4.17 CHF 5.56 CHF 6.94 58
P/B Multiple CHF 4.17 CHF 5.56 CHF 6.94 55
EV/EBIT CHF 7.21 CHF 10.01 CHF 12.82 53
EV/EBITDA CHF 19.60 CHF 26.53 CHF 33.47 54
EV/Revenue CHF 4.80 CHF 7.37 CHF 9.95 43
Asset-Based
NCAV (Graham) CHF 7.83 CHF 10.49 CHF 15.66 50
Growth DCF
Growth DCF CHF 9.38 CHF 12.69 CHF 16.62 80
Rev-Margin DCF CHF 6.40 CHF 9.51 CHF 12.91 74
Economic Profit
Residual Income CHF 10.37 CHF 9.62 CHF 7.00 61
ROIC Compounder CHF 2.98 CHF 3.55 CHF 4.03 72
Growth Earnings
Growth-Adj P/E CHF 3.90 CHF 5.58 CHF 7.25 68

Widest divergence: Asset-Based (CHF 10.49) versus Earnings-Based (CHF 3.55). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) CHF 997M
Revenue growth (YoY) +3.7%
Net margin 0.2%
Return on equity 1.8%
Free cash flow CHF 73.6M FY2025
P/E ratio 85.0
More key figures
Operating margin 6.9%
EPS (TTM) CHF 0.2600
EPS growth (YoY) +102%
Net debt CHF 113M FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 51 · Market factors (momentum, volatility) 22

Profitability 25
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 8
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 75
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

Montana Aerospace AG design, develop, and manufacture system components and complex assemblies worldwide and complex assemblies worldwide. The company operates through Aerostructures and Alpine Metal Tech segments.

Full company description

Montana Aerospace AG design, develop, and manufacture system components and complex assemblies worldwide and complex assemblies worldwide. The company operates through Aerostructures and Alpine Metal Tech segments. It manufactures mission-critical components for aviation and space applications, which includes structural components for fuselage, wings, and landing gear; critical engine parts exposed to thermal and mechanical stresses; and large-format extrusion products, as well as high-precision titanium and aluminum components. The company also provides customized high-tech solutions for the steel, automotive, aerospace industries. In addition, it provides machines and automation solutions for machining, production control/optimization, testing, handling, and surface inspection of aluminum wheels for the aerospace, automotive, railway, and steel industries. Montana Aerospace AG was founded in 1814 and is headquartered in Reinach, Switzerland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Montana Aerospace AG reported revenue of CHF 986M in FY2025 versus CHF 762M in FY2021, a compound +6.6%/yr. Reported net income was CHF 20.5M in FY2025.

Growth Quality 78/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
CHF 986M
Latest YoY
−34.0%
Avg. growth/yr (3Y)
−9.0%
Avg. growth/yr (5Y)
+13.3%
Avg. growth/yr (7Y)
+7.8%
Revenue +6.6%/yr
FY21 CHF 762M
FY22 CHF 1.3B
FY23 CHF 1.5B
FY24 CHF 1.5B
FY25 CHF 986M
Net income
FY21 −CHF 47.3M
FY22 −CHF 36.1M
FY23 −CHF 38.0M
FY24 CHF 36.1M
FY25 CHF 20.5M

AERO screens 75% overvalued. Compare with General Electric Company →

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Cite: Fair Value Calculator (2026). "Montana Aerospace AG Fair Value". https://www.fairvalue-calculator.com/stock/AERO

Peer Group

Aerospace & Defense · 226 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 51 · Below median
Fair Value upside −75% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 0% · Bottom 25%
Operating margin (TTM) 7% · Below median
Revenue growth 4% · Below median
Debt / equity 0.19× · Higher than median

Valuation Multiples vs Aerospace & Defense median · lower = cheaper

P/E (TTM) 85.0× · Pricier than 75% of peers
P/FCF 23.3× · Pricier than median

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 19 · sector 46
PAST 7 · sector 38
HEALTH 90 · sector 94
DIVIDEND 0 · sector 15

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

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

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

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
General Electric Company GE $381.22 $116.71 -69%
RTX Corporation RTX $195.93 $88.37 -55%
Airbus SE 1AIR €213.25 €86.20 -60%
The Boeing Company BA $217.11 $48.20 -78%
China CSSC Holdings 600150 ¥34.31 ¥21.90 -36%
HD Hyundai Heavy Industries Co 329180 466,000 KRW 272,966 KRW -41%
Hanwha Aerospace Co 012450 967,000 KRW 573,468 KRW -41%
ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi ASELS 337.50 TRY 130.70 TRY -61%
Saab AB SAABB kr 520.40 kr 212.84 -59%
Kongsberg Gruppen ASA KOG kr 277.50 kr 106.93 -61%

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Frequently asked questions

Is Montana Aerospace AG (AERO) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of CHF 6.33 versus a price of CHF 25.30, about −75% (overvalued).
What is the fair value of AERO?
Our model-based fair value for Montana Aerospace AG is CHF 6.33 (as of Jul 20, 2026), built from audited fundamentals. The current price is CHF 25.30.
What is the quality score of AERO?
Montana Aerospace AG has a Quality Score of 51/100. 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 Montana Aerospace AG (AERO)?
Montana Aerospace AG reported trailing-twelve-month revenue of about CHF 997M (latest available figure, as of Jul 20, 2026).
What is the net profit margin of AERO?
The net profit margin of Montana Aerospace AG is about 0.2%, meaning it keeps roughly 0.2% 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.

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