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FRIWO AG (CEA) Fair Value & Analysis

Industrials · DE · Market cap €40.4M

FA FRIWO AG CEA · XETRA
Price€4.86
Fair Value€14.16
Upside+191.4%
Quality68/100
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Weak Growth
Solidly profitable · 19.3% net margin
Low debt · negative free cash flow
Trails peers (4/12)
Narrow moat 31/100
Evidence: Medium Range €9.94 – €24.67 Share as image

Fair value as of: Jul 18, 2026

From 9 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from €19.32 to €14.16 (−26.7%) since Jun 25, 2026. Share price −2.4% over the past month.

A solid business, screening 191% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€9.94). The market is more pessimistic than our downside scenario.
  • Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€9.94 to €24.67) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€47.80 €4.50 Fair Value €14.16 Oct 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range €4.50 – €47.80 · fair‑value band €9.94 – €24.67 · the €4.86 price screens below the €14.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

FRIWO AG (CEA) currently trades at €4.86, while our model-based Fair Value estimate is €14.16, implying the stock looks roughly 191.4% undervalued today. The Quality Score stands at 68/100 (solid quality), in the Industrials 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, FRIWO AG generated revenue of €77.4M at a net margin of 18.0%. Revenue declined 12.2% year over year. It earns a return on equity of -54.9%. Net debt stands at €5.2M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €9.94 (bear case) to €24.67 (bull case); at €4.86, 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 53% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 191%, CEA 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
Residual Income €7.28 €12.45 €220.41 76
Growth-Adj P/E €18.12 €25.89 €33.66 68
P/E Multiple €25.67 €34.22 €42.78 63
All 9 models by family
DCF Models
Owner Earnings €13.45 €16.94 €22.56 31
Earnings-Based
Graham-Dodd €11.08 €13.54 €15.24 54
Multiples
P/E Multiple €25.67 €34.22 €42.78 63
P/S Multiple €13.56 €18.09 €22.61 58
P/B Multiple €5.95 €7.94 €9.92 55
EV/EBITDA €3.58 €4.77 €5.97 54
Asset-Based
NCAV (Graham) €0.8800 €1.18 €1.76 50
Economic Profit
Residual Income €7.28 €12.45 €220.41 76
Growth Earnings
Growth-Adj P/E €18.12 €25.89 €33.66 68

Widest divergence: Growth Earnings (€25.89) versus Asset-Based (€1.18). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) €72.4M
Revenue growth (YoY) -25.9%
Net margin 19.3%
Return on equity -54.9%
Free cash flow −€1.6M FY2025
Operating margin -7.7%
More key figures
EPS (TTM) €-0.5900
Net debt €5.2M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 65 · Market factors (momentum, volatility) 23

Profitability 87
Margins and returns on capital today
Quality Growth 78
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 88
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

FRIWO AG, together with its subsidiaries, develops, manufactures, and sells smart power supplies units and drive solutions in Germany, rest of Europe, Asia, and internationally.

Full company description

FRIWO AG, together with its subsidiaries, develops, manufactures, and sells smart power supplies units and drive solutions in Germany, rest of Europe, Asia, and internationally. The company offers intelligent components and systems for electric drives; plug-in, desktop, open frame, flush-mounted, and USB power supplies; Li-Ion chargers, interchangeable AC plug systems, desktop chargers, and inductive charging products; and battery packs and battery management systems, as well as customized solutions. It also provides displays, vehicle and motor control units, drive units, batteries, software, and back-to-back test benches; and end-to-end contract manufacturing services for electronic assemblies and equipment. The company serves the specialized tools and equipment; industrial applications; medical and healthcare solutions; e-mobility, transportation, and logistics; and lifestyle solutions sectors. It sells its products through its online store. The company was formerly known as CEAG AG and changed its name to FRIWO AG in 2009. FRIWO AG was founded in 1967 and is headquartered in Ostbevern, Germany.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

FRIWO AG reported revenue of €77.4M in FY2025 versus €101M in FY2021, a compound −6.3%/yr. Reported net income was €13.9M in FY2025.

Growth Quality 19/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€77.4M
Latest YoY
−16.8%
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.
−25.2%
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.
−4.9%
Avg. growth/yr (23Y) 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.
−3.9%
Revenue −6.3%/yr
FY21 €101M
FY22 €185M
FY23 €111M
FY24 €93.0M
FY25 €77.4M
Net income
FY21 −€10.6M
FY22 €512K
FY23 −€11.5M
FY24 −€6.2M
FY25 €13.9M

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Cite: Fair Value Calculator (2026). "FRIWO AG Fair Value". https://www.fairvalue-calculator.com/stock/CEA

Peer Group

Electrical Equipment & Parts · 526 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 68 · Top 25%
Fair Value upside +191% · Top 25%
Return on assets -0% · Bottom 25%
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) -8% · Bottom 25%
Revenue growth -26% · Bottom 25%
Debt / equity 0.40× · Higher than 75% of peers

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/B 3.09× · Pricier than median
P/S (TTM) 0.65× · Cheaper than median
EV/EBITDA 31.1× · Pricier than 75% of peers
PEG 3.12× · Pricier than 75% of peers

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 100 · sector 0
FUTURE 0 · sector 57
PAST 0 · sector 26
HEALTH 80 · sector 97
DIVIDEND 0 · sector 18

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$675.50 HK$391.44 -42%
ABB Ltd ABBN CHF 83.82 CHF 35.46 -58%
Delta Electronics (Thailand) Public Company TDED 10.16 SGD 1.47 SGD -86%
LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
WEG S.A WEGE3 13,210 ARS 7,948 ARS -40%
Sungrow Power Supply Co 300274 ¥114.79 ¥123.83 +8%
Shenzhen Inovance Technology Co 300124 ¥63.43 ¥33.04 -48%
HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
Sieyuan Electric Co 002028 ¥151.73 ¥71.69 -53%

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Frequently asked questions

Is FRIWO AG (CEA) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €14.16 versus a price of €4.86, about +191% (undervalued).
What is the fair value of CEA?
Our model-based fair value for FRIWO AG is €14.16 (as of Jul 18, 2026), built from audited fundamentals. The current price is €4.86.
What is the quality score of CEA?
FRIWO AG has a Quality Score of 68/100. 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 FRIWO AG (CEA)?
FRIWO AG reported trailing-twelve-month revenue of about €77.4M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of CEA?
The net profit margin of FRIWO AG is about 18.0%, meaning it keeps roughly 18.0% 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.

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