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BENO Holding (BENH) Fair Value & Analysis

Real Estate · DE · Market cap €23.4M

BH BENO Holding BENH · MU
Price€6.90
Fair Value€14.46
Upside+109.6%
Quality62/100
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Mixed Growth
Highly profitable · 49.7% net margin
High debt · generates free cash flow
Mixed vs. peers (7/13)
Wide moat 71/100
Evidence: Medium Range €11.20 – €18.66 Share as image

Fair value as of: Aug 20, 2026

From 8 valuation models · updated today

Share price −18.8% over the past month.

A solid business, screening 110% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (€11.20). The market is more pessimistic than our downside scenario.
  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (4 years)

€9.95 €5.00 Fair Value €14.46 Aug 2022 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

48‑month range €5.00 – €9.95 · fair‑value band €11.20 – €18.66 · the €6.90 price screens below the €14.46 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

BENO Holding (BENH) currently trades at €6.90, while our model-based Fair Value estimate is €14.46, implying the stock looks roughly 109.6% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Real Estate 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, BENO Holding generated revenue of €9.2M at a net margin of 49.7%. It earns a return on equity of 14.6%. Net debt stands at €55.7M. The stock trades on a trailing P/E of 5.9. Fundamentals as of Aug 20, 2026

Our scenario range runs from €11.20 (bear case) to €18.66 (bull case); at €6.90, 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 19% below its 52-week high and 38% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at 110%, BENH 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
P/E Multiple €15.24 €20.32 €25.40 63
Residual Income €8.03 €10.66 €30.57 61
P/B Multiple €7.84 €10.45 €13.06 55
All 8 models by family
DCF Models
5Y P/E Exit €1.87 €11.87 38
10Y P/E Exit €4.87 35
Earnings-Based
Graham-Dodd €10.63 €48.59 €66.68 54
Lynch FV €12.74 €18.21 €23.67 50
Multiples
P/E Multiple €15.24 €20.32 €25.40 63
P/B Multiple €7.84 €10.45 €13.06 55
Asset-Based
NCAV (Graham) €3.73 €5.00 €7.47 50
Economic Profit
Residual Income €8.03 €10.66 €30.57 61

Widest divergence: Earnings-Based (€18.21) versus DCF Models (€1.87). Highest evidence: P/E Multiple (63).

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Key figures & financial health

Revenue (TTM) €9.2M
Net margin 49.7%
Return on equity 14.6%
Free cash flow €599K FY2023
P/E ratio 5.9
Operating margin 53.5%
More key figures
EPS (TTM) €1.17
Net debt €55.7M FY2023

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 54 · Market factors (momentum, volatility) 43

Profitability 47
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 15
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 80
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

BENO Holding AG, through its subsidiaries, engages in the rental of real estate properties for medium-sized companies in Germany. The company creates digital twins light industrial properties, improve collaborative processes, save time, and reduce CO2 emissions; and provides professional asset management services.

Full company description

BENO Holding AG, through its subsidiaries, engages in the rental of real estate properties for medium-sized companies in Germany. The company creates digital twins light industrial properties, improve collaborative processes, save time, and reduce CO2 emissions; and provides professional asset management services. BENO Holding AG was incorporated in 2014 and is based in Munich, Germany.

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

Revenue & earnings trend

FY2021 – FY2023 · reported fiscal years

BENO Holding reported revenue of €10.0M in FY2023 versus €7.5M in FY2021, a compound +15.6%/yr. Reported net income was €5.3M in FY2023, compounding +57.6%/yr from FY2021.

Growth Quality 59/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2023)
€10.0M
Latest YoY
+8.5%
Revenue +15.6%/yr
FY21 €7.5M
FY22 €9.2M
FY23 €10.0M
Net income +57.6%/yr
FY21 €2.1M
FY22 €2.8M
FY23 €5.3M

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Cite: Fair Value Calculator (2026). "BENO Holding Fair Value". https://www.fairvalue-calculator.com/stock/BENH

Peer Group

Real Estate Services · 535 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 63 · Top 25%
Fair Value upside +110% · Top 25%
Return on equity (TTM) 15% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 50% · Top 25%
Operating margin (TTM) 54% · Top 25%
Revenue growth 0% · Below median
Debt / equity 2.27× · Higher than 75% of peers

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 5.9× · Cheaper than 75% of peers
P/B 1.08× · Pricier than median
P/S (TTM) 2.96× · Pricier than median
P/FCF 45.5× · Pricier than 75% of peers
EV/EBITDA 15.9× · 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
VALUE100 · sector 33
FUTURE0 · sector 10
PAST58 · sector 16
HEALTH0 · sector 84
DIVIDEND0 · sector 59

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 Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%
PT Solusi Tunas Pratama Tbk SUPR 43,850 IDR 15,049 IDR -66%
Cencosud Shopping S.A CENCOMALLS 2,412 CLP 2,976 CLP +23%
PT Sarana Menara Nusantara Tbk. owns and TOWR 422.00 IDR 1,012 IDR +140%
PT Metropolitan Kentjana Tbk MKPI 22,000 IDR 19,160 IDR -13%
PT Bangun Kosambi Sukses Tbk, CBDK 3,610 IDR 3,464 IDR -4%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 2,990 ARS +20%
PT Plaza Indonesia Realty Tbk PLIN 2,510 IDR 2,698 IDR +7%
PT MNC Tourism Indonesia Tbk, KPIG 74.00 IDR 122.12 IDR +65%
PT Indonesian Paradise Property Tbk INPP 770.00 IDR 291.52 IDR -62%

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Frequently asked questions

Is BENO Holding (BENH) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of €14.46 versus a price of €6.90, about +110% (undervalued).
What is the fair value of BENH?
Our model-based fair value for BENO Holding is €14.46 (as of Aug 20, 2026), built from audited fundamentals. The current price: €6.90.
What is the quality score of BENH?
BENO Holding has a Quality Score of 62/100. 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 BENO Holding (BENH)?
BENO Holding reported trailing-twelve-month revenue of about €9.2M (latest available figure, as of Aug 20, 2026).
What is the net profit margin of BENH?
The net profit margin of BENO Holding is about 49.7%, meaning it keeps roughly 49.7% 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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