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BRAIN Biotech AG (BNN) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of BRAIN Biotech AG stock €1.95, price €2.63, that is 25.9% below the price, quality 33 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials DE · ISIN DE0005203947

BB BRAIN Biotech AG logo Thin data Nov 10, 2026

BRAIN Biotech AG

BNN · XETRA
Expensive, weak quality

Our calculation puts a fair price 26% below what the stock costs today.

Expensive Growth (revenue 5y +5.4 %/yr in EUR)
Negative equity (buybacks among others)
Revenue last quarter 17% below a year ago.
Fair value €1.95 · Overvalued
Quality 33/100
Loss-making · -30.3% net margin (TTM)
Negative free cash flow
Trails peers (1/7)
Narrow moat 8/100 · thin data
Thin data
⟳ CyclicalEstimate
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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

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Price vs Fair Value

€10.70 €1.45 Fair Value €1.95 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range €1.45 – €10.70 · fair‑value band €1.46 – €2.44 · the €2.63 price screens above the €1.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

BRAIN Biotech AG provides bio-based products and solutions in Germany, the United States, France, the Netherlands, and the United Kingdom. The company operates through two segments: BRAINBiocatalysts and BRAINBioIncubator.

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The BRAINBiocatalysts segment develops, produces, and distributes specialty enzymes, microorganisms, and ingredients. The BRAINBioIncubator segment encompasses a pipeline of research-intensive development projects primarily for the life sciences industry.

The company offers enzymes, biocatalysts, microorganisms, and other bioactive natural compounds to produce foodstuffs and animal feed, cosmetics, and medical products, as well as for industrial applications in chemical companies, waste and hazardous materials disposal, and energy and raw materials production.

The company was formerly known as B.R.A.I.N. Biotechnology Research and Information Network AG and changed its name to BRAIN Biotech AG in April 2021. BRAIN Biotech AG was founded in 1993 and is headquartered in Zwingenberg, Germany.

Stock analysis

BRAIN Biotech AG (BNN) currently trades at €2.63, while our estimate is €1.95, 26% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: €1.46 (bear) to €2.44 (bull), the price of €2.63 sits above 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 33/100 (below-average quality), in the Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

BRAIN Biotech AG reported revenue of €49.6M in FY2025 versus €38.4M in FY2021, a compound +6.6%/yr. Reported net income was −€11.7M in FY2025.

Key figures

Market cap €57.5M Micro · P/S ratio 1.28 · EPS (TTM) €−0.6400 · Net margin −30.3% · Return on equity −664% · Return on assets (EBIT) −10.1% (5-year average) · Operating margin −20.0% · Revenue (TTM) €46.1M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 8 out of 100 (low confidence).

What moves the price

The share trades about 28% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −41% fair-value upside, at −26%, BNN screens cheaper than that median.

Fair Value

Bear €1.46 Fair Value €1.95 Bull €2.44
Price €2.63 · Downside -25.9%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 33/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 12
How much profit the company makes from its sales and capital
Quality Growth 45
Are margins and returns getting better?
Cashflow 6
Do the profits arrive as real cash?
Financial strength 8
Debt, balance sheet and risk of trouble
Investment 98
Does it invest with discipline instead of growing at any price?
Low Volatility 46
How calm the share price moves, does not count
Price momentum 36
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 38
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

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. 18/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−9.2%
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.
+0.1%
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.
+5.4%
Start year 2020 (pandemic). Over 10 years: +8.9% a year
Revenue growth 13 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.
+15.7%
Profit margin (trend) ⓘ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.
−23.2% (2020) → −17.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

BNN screens overvalued: fair value 26% below the price. Compare with Linde plc →

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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.Specialty Chemicals · 758 stocks

Beats the industry median on 1/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 33 · Bottom 25%
Fair Value upside −25.9% · Below median
Profitability
Return on equity (12 months) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −17.7% · Bottom 25%
Net margin (12 months) −30.3% · Bottom 25%
Operating margin (12 months) −20.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −16.5% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Specialty Chemicals median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months) 1.25× · Cheaper than median

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Nan Ya Plastics Corporation 1303 289.00 TWD 462.40 TWD +60% vs BNN
Wanhua Chemical Group 600309 ¥71.74 ¥68.03 −5% vs BNN
Linde plc LIN $521.78 $446.62 −14% vs BNN
PPG Industries, Inc PPG $124.42 $77.68 −38% vs BNN
DSM-Firmenich AG DSFIR CHF 97.25 CHF 57.84 −41% vs BNN
Sika AG SIKA CHF 194.00 CHF 98.89 −49% vs BNN
The Sherwin-Williams Company SHW $355.34 $146.37 −59% vs BNN
Givaudan SA GIVN CHF 4,048 CHF 1,554 −62% vs BNN
Ecolab Inc ECL $306.03 $96.56 −68% vs BNN
Air Products and Chemicals, Inc APD $312.25 $75.33 −76% vs BNN

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BRAIN Biotech AG: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "BRAIN Biotech AG Fair Value". https://www.fairvalue-calculator.com/stock/BNN

Frequently asked questions

Is BRAIN Biotech AG (BNN) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is €1.95 versus a price of €2.63, about 26% lower (overvalued).
What is the fair value of BNN?
Our estimate for BRAIN Biotech AG is €1.95 (as of Nov 10, 2026), built from audited fundamentals. The current price: €2.63.
What is the quality score of BNN?
BRAIN Biotech AG has a Quality Score of 33/100. 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 BRAIN Biotech AG (BNN)?
Our calculated price target is the estimate of €1.95 (as of Nov 10, 2026). Cautious scenario €1.46, optimistic scenario €2.44. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the BRAIN Biotech AG stock forecast for 2026?
Our estimate puts fair value at €1.95, about 26% lower versus a price of €2.63 (overvalued). Cautious scenario €1.46, optimistic scenario €2.44. The calculation is refreshed regularly with new filings.
What is the revenue of BRAIN Biotech AG (BNN)?
BRAIN Biotech AG reported trailing-twelve-month revenue of about €46.1M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of BRAIN Biotech AG (BNN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BRAIN Biotech AG it is €1.95 per share (as of Nov 10, 2026), against a price of €2.63.
Is BRAIN Biotech AG stock overvalued or undervalued in 2026?
As of Nov 10, 2026, BNN trades above its calculated fair value: price €2.63, fair value €1.95, a gap of about −26% (overvalued). 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 BNN?
No. The price is what the market pays today (€2.63); the fair value is what the company's own numbers justify (€1.95). For BRAIN Biotech AG the two are €0.6800 per share apart. That gap is exactly why we show both numbers side by side.
How much is BRAIN Biotech AG worth?
The market values BRAIN Biotech AG at about €57.5M (market capitalisation, as of Nov 10, 2026). Per share that is €2.63; our models calculate a fair value of €1.95 per share.
What do the bullish and bearish scenarios say about BNN?
Our models span a range for BRAIN Biotech AG: cautious scenario €1.46, base €1.95, optimistic €2.44 per share (as of Nov 10, 2026, price €2.63). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of BRAIN Biotech AG (BNN)?
Balance-sheet figures for BRAIN Biotech AG (as of Nov 10, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is BNN from its 52-week high?
BRAIN Biotech AG trades at €2.63, about 28% below its 52-week high of €3.66 and 22% above the low of €2.16 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of €1.95 is for.
Which stocks are comparable to BRAIN Biotech AG?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics Corporation, 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 BRAIN Biotech AG stock attractive at the current price?
The data as of Nov 10, 2026: price €2.63, calculated fair value €1.95 (−26%), Quality Score 33/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. BRAIN Biotech AG itself currently trades above fair value. 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 BRAIN Biotech AG (BNN)?
The closing price on Nov 10, 2026 was €2.63. Our estimate is €1.95, about 26% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BRAIN Biotech AG right now?
The price sits above even our optimistic bull case (€2.44). The favourable scenario is already priced in. Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of BRAIN Biotech AG

How large is the market capitalisation of BRAIN Biotech AG (BNN)?
The market capitalisation of BRAIN Biotech AG is €57.5M. 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 is the P/S ratio of BRAIN Biotech AG (BNN)?
The price-to-sales ratio of BRAIN Biotech AG is 1.28 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of BRAIN Biotech AG (BNN)?
Earnings per share at BRAIN Biotech AG are €−0.6400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of BRAIN Biotech AG (BNN)?
The net margin of BRAIN Biotech AG is −30.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of BRAIN Biotech AG (BNN)?
The return on equity (ROE) of BRAIN Biotech AG is −664% (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 BRAIN Biotech AG (BNN)?
On an EBIT basis the return on assets of BRAIN Biotech AG is −10.1% (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 BRAIN Biotech AG (BNN)?
The operating margin of BRAIN Biotech AG is −20.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BRAIN Biotech AG (BNN)?
Revenue at BRAIN Biotech AG is growing −16.5% versus a year earlier (3y avg +0.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does BRAIN Biotech AG (BNN) generate?
The free cash flow of BRAIN Biotech AG is −€10.8M (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 BRAIN Biotech AG (BNN) carry?
The net debt of BRAIN Biotech AG is €17.8M (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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