EN DE
Check 35,000+ stocks against 26 valuation models and 37 quality factors
Data-driven stock valuation

Chapters Group AG (CHG) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Chapters Group AG €12.04, price €41.85, upside -71.2%, quality 27 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Technology · DE · ISIN DE0006618309

CG Thin data Sep 24, 2026

Chapters Group AG

CHG · XETRA

Weakest SetupStrongly overvalued and low quality.

!Fair value €12.04 · Strongly overvalued (−71%)
!Quality 27/100
!Mixed Growth (revenue 5y +178.6 %/yr)
!Loss-making · -16.4% net margin (TTM)
✓Moderate debt · generates free cash flow
!Trails peers (2/12)
!Narrow moat 24/100
!Evidence only low, so the estimate is less certain
!The models disagree: range €4.42 to €24.01
Watch Chapters Group AG for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card. Watch for free Pro now: $1 first month

What runs behind every stock

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

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€48.50 €6.88 Fair Value €12.04 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range €6.88 – €48.50 · fair‑value band €4.42 – €24.01 · the €41.85 price screens above the €12.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

Follow Chapters Group in your weekly email

Every Wednesday you see whether Chapters Group is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

Company profile

CHAPTERS Group AG, together with its subsidiaries, provides various software solutions.

Show more

CHAPTERS Group AG, together with its subsidiaries, provides various software solutions. It also provides electronic gate and door systems, as well as barriers, fire, and smoke protection systems; conversation-oriented language courses; communication school; software solutions to sheet metal processing, property management, property developers, and project development industries, as well as engages in the field of refrigeration and air conditioning technology, and air purification. In addition, the company offers software solutions for managing fire brigades, as well as mountain, water, and cave rescues; complete system for the administration and billing of daycare centers and kindergartens; software for utilities and heating cost billing for private landlords and small property managers; industry solutions for management companies; supplemental alarming solutions for fire departments, rescue services, and emergency organizations; and corporate and group planning, and business intelligence solutions. Further, it provides enterprise content management software solutions; business management solutions for real estate developers; solutions for property management companies; orchestra management software; modular software solutions; school administration software; CAD and ERP software; broadband services for municipal utilities, municipalities, and other network owners; technical solutions; and support services for international students and young professionals, as well as wholesales and develops cable management and protection solutions. Additionally, the company develops and sells software solution for fishing, hunting, and firearms license management; and provides customer information systems to electricity and gas suppliers, water and energy suppliers, and public service broadcasters. The company was formerly known as MEDIQON Group AG and changed its name to CHAPTERS Group AG in July 2023. CHAPTERS Group AG was founded in 1998 and is based in Hamburg, Germany.

Stock analysis

Chapters Group AG (CHG) currently trades at €41.85, while our model-based Fair Value estimate is €12.04, implying the stock looks roughly 247.6% overvalued today.

Show more

Valuation

Bull case: the DCF Models group reads highest at a median of €6.87 per share, and 0 of the 7 models we run sit above the €41.85 price.

Bear case: the Growth DCF group reads lowest at €3.38, and 7 of the 7 models stay below the price. Evidence for this calculation is low.

Scenario range: €4.42 (bear) to €24.01 (bull), the price of €41.85 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 27/100 (below-average quality), in the Technology sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Chapters Group AG reported revenue of €181M in FY2025 versus €28.7M in FY2021, a compound +58.5%/yr. Reported net income was −€29.6M in FY2025.

Key figures

Market cap €998M · P/S ratio 5.09 · EPS (TTM) €−1.24 · Net margin −16.4% · Return on equity −14.9% · Return on assets (EBIT) 1.1% · Operating margin 12.3% · Revenue (TTM) €181M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 11% below its 52-week high and 63% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at 66% fair-value upside, at −71%, CHG screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely (€2.18 to €25.86). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear €4.42 Fair Value €12.04 Bull €24.01
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF €5.13 €10.26 €25.59 70
Growth DCF €4.42 €12.04 €24.01 70
Owner Earnings €9.36 €25.86 €56.49 67
All 7 models by family
DCF Models
FCF DCF €5.13 €10.26 €25.59 70
Owner Earnings €9.36 €25.86 €56.49 67
5Y Revenue Exit n/a €2.18 €7.61 67
10Y Revenue Exit €1.35 €6.87 €9.41 62
Asset-Based
NCAV (Graham) €4.69 €6.29 €9.39 54
Growth DCF
Growth DCF €4.42 €12.04 €24.01 70
Rev-Margin DCF €0.0300 €3.38 €10.50 60

Open the full fair value analysis →

Notify me when CHG reaches fair value

Put CHG on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.

Set up alert →

Quality Score breakdown

Overall quality 27/100

Of which business quality 30 · Market factors (momentum, volatility) 61

Profitability 3
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 45
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 58
Distance to the 52-week high (market factor)
Net Issuance 21
Share count: buybacks or dilution?

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. 54/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+63.4%
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.
+62.6%
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.
+178.6%
Start year 2020 (pandemic). Over 10 years: +50.5% a year
Revenue growth 20 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.
+29.1%
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.
−14.6% (2020) → −27.6% (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

Growth Forecast

Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+56.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +52.7% a year for the price.

CHG screens 248% overvalued. Compare with International Business Machines Corporation →

Compare Chapters Group AG with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

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.Information Technology Services · 490 stocks

Beats the industry median on 2/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 27 · Bottom 25%
Fair Value upside −71% · Bottom 25%
Profitability
Return on assets −1% · Bottom 25%
Net margin (TTM) −16% · Bottom 25%
Operating margin (TTM) 12% · Top 25%
Growth and dividend
Revenue growth 81% · Top 25%
Balance sheet
Debt / equity 1.12× · Highest 25%

Valuation Multiplesvs Information Technology Services median · lower = cheaper

P/B 5.07× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (TTM) 6.28× · Priciest 25%
P/FCF 161.8× · Priciest 25%
EV/EBITDA 35.1× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 44
FUTURE (revenue growth)100 · sector 31
PAST (return on equity)0 · sector 36
HEALTH (low debt)44 · sector 97
DIVIDEND (yield)0 · sector 43

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

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 Information Technology Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $231.38 $188.22 −19%
Accenture plc ACN $183.72 $305.06 +66%
Tata Consultancy Services Limited TCS ₹2,090 ₹2,993 +43%
Infosys Limited INFY ₹1,021 ₹1,690 +66%
HCL Technologies Limited HCLTECH ₹1,257 ₹1,926 +53%
Fidelity National Information Services, Inc FIS $34.96 $32.47 −7%
Cognizant Technology Solutions Corporation CTSH $58.68 $132.01 +125%
Wipro Limited WIPRO ₹164.90 ₹287.90 +75%
Capgemini SE CAP €106.30 €223.90 +111%
CDW Corporation CDW $147.43 $162.00 +10%

Explore undervalued stocks

More undervalued Technology stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names ⭐ Top Rated 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Calculator with industry benchmark Peter Lynch Fair Value Formula &…Calculator with industry benchmark
Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Chapters Group AG · Fair Value
€12.04 −248%Fair Value
Calculator →

Cite: Fair Value Calculator (2026). "Chapters Group AG Fair Value". https://www.fairvalue-calculator.com/stock/CHG

Frequently asked questions

Is Chapters Group AG (CHG) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €12.04 versus a price of €41.85, about −71% upside (overvalued).
What is the fair value of CHG?
Our model-based fair value for Chapters Group AG is €12.04 (as of Sep 24, 2026), built from audited fundamentals. The current price: €41.85.
What is the quality score of CHG?
Chapters Group AG has a Quality Score of 27/100. 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 Chapters Group AG (CHG)?
Our model-based price target is the fair value of €12.04 (as of Sep 24, 2026) from 7 valuation models. Cautious scenario €4.42, optimistic scenario €24.01. It is a calculation from audited fundamentals, not an analyst target.
What is the Chapters Group AG stock forecast for 2026?
Our models put fair value at €12.04, about −71% upside versus a price of €41.85 (overvalued). Cautious scenario €4.42, optimistic scenario €24.01. The calculation is refreshed regularly with new filings.
What is the revenue of Chapters Group AG (CHG)?
Chapters Group AG reported trailing-twelve-month revenue of about €181M (latest available figure, as of Sep 24, 2026).
What growth is priced into Chapters Group AG (CHG)?
For today's price to be fair in a discounted-cash-flow model, Chapters Group AG would have to grow free cash flow by +56.1 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +178.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of CHG use?
Our models discount Chapters Group AG at 11.0 %: a base by market capitalisation (small), country premium for Germany. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Chapters Group AG that is +56.1 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Chapters Group AG (CHG) delivered so far?
Over the past 5 years revenue at Chapters Group AG grew +178.6 % a year. The price currently implies +56.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Chapters Group AG (CHG) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Chapters Group AG (+56.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Chapters Group AG (CHG)?
The free-cash-flow yield on the price is 0.70 %: that much free cash flow Chapters Group AG produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Chapters Group AG (CHG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Chapters Group AG it is €12.04 per share (as of Sep 24, 2026), against a price of €41.85. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Chapters Group AG stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CHG trades above its calculated fair value: price €41.85, fair value €12.04, a gap of about −71% (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 CHG?
No. The price is what the market pays today (€41.85); the fair value is what the company's own numbers justify (€12.04). For Chapters Group AG the two are €29.81 per share apart. That gap is exactly why we show both numbers side by side.
How much is Chapters Group AG worth?
The market values Chapters Group AG at about €998M (market capitalisation, as of Sep 24, 2026). Per share that is €41.85; our models calculate a fair value of €12.04 per share.
What do the bullish and bearish scenarios say about CHG?
Our models span a range for Chapters Group AG: cautious scenario €4.42, base €12.04, optimistic €24.01 per share (as of Sep 24, 2026, price €41.85). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Chapters Group AG (CHG)?
Balance-sheet figures for Chapters Group AG (as of Sep 24, 2026): return on equity −14.9%, debt of 1.12 per unit of equity. They feed the Quality Score of 27/100, which measures business quality independently of the share price.
How far is CHG from its 52-week high?
Chapters Group AG trades at €41.85, about 11% below its 52-week high of €47.20 and 63% above the low of €25.70 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of €12.04 is for.
Which stocks are comparable to Chapters Group AG?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys Limited, 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 Chapters Group AG stock attractive at the current price?
The data as of Sep 24, 2026: price €41.85, calculated fair value €12.04 (−71%), Quality Score 27/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CHG calculated?
We run Chapters Group AG through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €12.04, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Chapters Group 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 Chapters Group AG (CHG)?
The closing price on Sep 23, 2026 was €41.85. Our model-based fair value is €12.04, about −71% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Chapters Group AG right now?
The price sits above even our optimistic bull case (€24.01). The favourable scenario is already priced in. Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (€4.42 to €24.01). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Chapters Group AG

How large is the market capitalisation of Chapters Group AG (CHG)?
The market capitalisation of Chapters Group AG is €998M. 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 Chapters Group AG (CHG)?
The price-to-sales ratio of Chapters Group AG is 5.09 (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 Chapters Group AG (CHG)?
Earnings per share at Chapters Group AG are €−1.24. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Chapters Group AG (CHG)?
The net margin of Chapters Group AG is −16.4% (fiscal year 2025). 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 Chapters Group AG (CHG)?
The return on equity (ROE) of Chapters Group AG is −14.9% (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 Chapters Group AG (CHG)?
On an EBIT basis the return on assets of Chapters Group AG is 1.1% (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 Chapters Group AG (CHG)?
The operating margin of Chapters Group AG is 12.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Chapters Group AG (CHG)?
Revenue at Chapters Group AG is growing +81.1% versus a year earlier (3y avg +62.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Chapters Group AG (CHG)?
Earnings per share at Chapters Group AG are growing +32.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Chapters Group AG (CHG) carry?
The net debt of Chapters Group AG is €141M (fiscal year 2025, ≈ 20.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed

Watch Chapters Group AG in the live analysis

One click puts Chapters Group AG on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.