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There (ATW) Fair Value & Analysis

Other · DE · Market cap €30.7M

T There ATW · STU
Price€25.60
Fair Value€37.00
Upside+44.5%
Quality76/100
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Weak Growth
Highly profitable · 43.7% net margin
Low debt
5.86% dividend yield
Ranks above peers (10/13)
Wide moat 76/100
Evidence: Medium Range €27.63 – €46.37 Share as image

Fair value as of: Aug 20, 2026

From 13 valuation models · updated today

Share price −1.5% over the past month.

A strong business, screening 45% undervalued on our models.

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What matters now

  • The rarer combination: high quality (76/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (€27.63). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

€27.08 €16.24 Fair Value €37.00 Jun 2021 Aug 2026

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

How to read this chart

60‑month range €16.24 – €27.08 · fair‑value band €27.63 – €46.37 · the €25.60 price screens below the €37.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

There (ATW) currently trades at €25.60, while our model-based Fair Value estimate is €37.00, implying the stock looks roughly 44.5% undervalued today. The Quality Score stands at 76/100 (high quality), in the Other 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, There generated revenue of €7.7M at a net margin of 43.7%. Revenue grew 71.6% year over year. It earns a return on equity of 10.9%. The stock trades on a trailing P/E of 9.2. Fundamentals as of Aug 20, 2026

Our scenario range runs from €27.63 (bear case) to €46.37 (bull case); at €25.60, the current price sits below 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 4% below its 52-week high and 34% above its 52-week low, currently above its 200-day average. For context, the median of 10 Other peers we cover trades at -24% fair-value upside, at 45%, ATW 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
ROIC Compounder €16.17 €17.98 €19.45 72
Growth-Adj P/E €33.71 €48.16 €62.60 68
P/E Multiple €40.59 €54.11 €67.64 63
All 13 models by family
Earnings-Based
Graham-Dodd €21.65 €63.81 €84.39 54
Lynch FV €13.37 €19.10 €24.83 50
PEG = 1.0 €13.37 €19.10 €24.83 46
EPV €16.17 €17.98 €19.45 59
Multiples
P/E Multiple €40.59 €54.11 €67.64 63
P/S Multiple €4.90 €6.54 €8.17 58
P/B Multiple €40.59 €54.11 €67.64 55
EV/EBIT €29.17 €38.55 €47.92 53
EV/Revenue €5.63 €7.59 €9.55 43
Asset-Based
NCAV (Graham) €12.05 €16.15 €24.10 50
Economic Profit
Residual Income €20.68 €23.31 €35.26 61
ROIC Compounder €16.17 €17.98 €19.45 72
Growth Earnings
Growth-Adj P/E €33.71 €48.16 €62.60 68

Widest divergence: Growth Earnings (€48.16) versus Asset-Based (€16.15). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) €7.7M
Revenue growth (YoY) +71.6%
Net margin 43.7%
Return on equity 10.9%
P/E ratio 9.2
Operating margin 86.9%
More key figures
EPS (TTM) €2.79
Dividend yield 5.9%
EPS growth (YoY) -12.1%
Net debt €590K FY2022

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

Quality Score breakdown

Overall quality 76/100

Of which business quality 71 · Market factors (momentum, volatility) 61

Profitability 52
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 40
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 76
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

There is no Profile data available for ATW.SG.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

There reported revenue of €5.2M in FY2025 versus €4.5M in FY2021, a compound +4.0%/yr. Reported net income was €3.8M in FY2025, compounding +2.5%/yr from FY2021.

Growth Quality 31/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€5.2M
Latest YoY
+49.9%
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.
−0.4%
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.
−4.3%
Avg. growth/yr (9Y) 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.
+7.7%
Revenue +4.0%/yr
FY21 €4.5M
FY22 €5.3M
FY23 €3.5M
FY24 €3.5M
FY25 €5.2M
Net income +2.5%/yr
FY21 €3.5M
FY22 €943K
FY23 €1.5M
FY24 −€1.5M
FY25 €3.8M

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Cite: Fair Value Calculator (2026). "There Fair Value". https://www.fairvalue-calculator.com/stock/ATW

Peer Group

Other · 382 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 76 · Top 25%
Fair Value upside +45% · Above median
Return on equity (TTM) 11% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 44% · Top 25%
Operating margin (TTM) 87% · Top 25%
Revenue growth 72% · Top 25%
Dividend yield (TTM) 5.9% · Top 25%

Valuation Multiples vs Other median · lower = cheaper

P/E (TTM) 9.2× · Cheaper than median
P/B 1.24× · Pricier than 75% of peers
P/S (TTM) 4.68× · Pricier than 75% of peers
EV/EBITDA 7.8× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE93 · sector 10
FUTURE100 · sector 0
PAST44 · sector 0
HEALTH100 · sector 98
DIVIDEND100 · sector 26

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.

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Frequently asked questions

Is There (ATW) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of €37.00 versus a price of €25.60, about +45% (undervalued).
What is the fair value of ATW?
Our model-based fair value for There is €37.00 (as of Aug 20, 2026), built from audited fundamentals. The current price: €25.60.
What is the quality score of ATW?
There has a Quality Score of 76/100. 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 There (ATW)?
There reported trailing-twelve-month revenue of about €7.7M (latest available figure, as of Aug 20, 2026).
What is the net profit margin of ATW?
The net profit margin of There is about 43.7%, meaning it keeps roughly 43.7% of revenue as net income. Based on the latest reported figures.
Does There pay a dividend?
There currently shows a dividend yield of about 5.86% relative to its recent price (as of Aug 20, 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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