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Neon Equity AG (D77) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Neon Equity AG €7.46, price €5.50, upside +35.6%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Financial Services · DE · ISIN DE000A3DW408

NE Thin data Sep 23, 2026

Neon Equity AG

D77 · XETRA

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value €7.46 · Undervalued (+36%)
!Quality 50/100
!Mixed Growth
✓Ranks above peers (7/8)
!Narrow moat 42/100
!Evidence only low, so the estimate is less certain
!Weak on past: 28 out of 100
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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

€10.45 €1.44 Fair Value €7.46 Feb 2023 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

44‑month range €1.44 – €10.45 · fair‑value band €5.59 – €9.32 · the €5.50 price screens below the €7.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

DN Group AG is a private equity firm specializing in growth capital, buyout and SPAC investments. The firm prefers to invests in property, consulting, blockchain, technology and ESG sectors. It seeks to invest in companies based in Europe. DN Group AG was founded in 2023 and is based in Frankfurt am Main, Germany.

Stock analysis

Neon Equity AG (D77) currently trades at €5.50, while our model-based Fair Value estimate is €7.46, implying the stock looks roughly 26.3% undervalued today.

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Valuation

How firm this estimate is: it rests on 11 models at a data quality of 85/100, which puts the evidence level at low.

Scenario range: €5.59 (bear) to €9.32 (bull), the price of €5.50 sits below 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 50/100 (solid quality), in the Financial Services sector.

Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.

Neon Equity AG reported revenue of €2.5M in FY2025 versus €3.8M in FY2022, a compound −13.1%/yr. Reported net income was €23.1M in FY2025, compounding +24.5%/yr from FY2022.

Key figures

Market cap €242M · P/E ratio 12.0 · EPS (TTM) €0.4600 · Net margin 920% · Return on equity 6.9% · Return on assets (EBIT) 6.4% · Operating margin 733% · Revenue (TTM) €2.5M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 7% below its 52-week high and 13% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −4% fair-value upside, at 36%, D77 screens cheaper than that median.

Fair Value models

Bear €5.59 Fair Value €7.46 Bull €9.32
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€0.3378 per share) are deliberately not added. 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
P/B Multiple €5.59 €7.46 €9.32 55
NCAV (Graham) €4.39 €5.88 €8.77 51
All 2 models by family
Multiples
P/B Multiple €5.59 €7.46 €9.32 55
Asset-Based
NCAV (Graham) €4.39 €5.88 €8.77 51

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Quality Score breakdown

Overall quality 50/100

Of which business quality 51 · Market factors (momentum, volatility) 58

Profitability 35
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 39
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 80
Share count: buybacks or dilution?

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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. 55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
327.7% (2022) → 1,250.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

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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.Asset Management · 658 stocks

Beats the industry median on 7/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside +36% · Above median
Profitability
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Growth and dividend
Revenue growth 249% · Top 25%

Valuation Multiplesvs Asset Management median · lower = cheaper

P/E (TTM) 12.0× · Cheaper than median
P/B 0.71× · Cheaper than median
EV/EBITDA 8.6× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)81 · sector 54
FUTURE (revenue growth)100 · sector 21
PAST (return on equity)28 · sector 22
HEALTH (low debt)0 · sector 95
DIVIDEND (yield)0 · sector 81

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 Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $124.01 $52.88 −57%
Brookfield Corporation BN $37.85 $13.75 −64%
KKR & Co KKR $97.21 $29.25 −70%
Apollo Global Management, Inc APO $124.36 $229.64 +85%
State Street Corporation STT $179.95 $138.33 −23%
Ameriprise Financial, Inc AMP $502.79 $579.51 +15%
Ares Management Corporation ARES $124.72 $119.25 −4%
Northern Trust Corporation NTRS $173.40 $122.02 −30%
Raymond James Financial, Inc RJF $158.23 $312.27 +97%
T. Rowe Price Group TROW $104.57 $209.14 +100%

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Neon Equity AG · Fair Value
€7.46 +26%Fair Value
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Cite: Fair Value Calculator (2026). "Neon Equity AG Fair Value". https://www.fairvalue-calculator.com/stock/D77

Frequently asked questions

Is Neon Equity AG (D77) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €7.46 versus a price of €5.50, about +36% upside (undervalued).
What is the fair value of D77?
Our model-based fair value for Neon Equity AG is €7.46 (as of Sep 23, 2026), built from audited fundamentals. The current price: €5.50.
What is the quality score of D77?
Neon Equity AG has a Quality Score of 50/100. 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 Neon Equity AG (D77)?
Our model-based price target is the fair value of €7.46 (as of Sep 23, 2026) from 2 valuation models. Cautious scenario €5.59, optimistic scenario €9.32. It is a calculation from audited fundamentals, not an analyst target.
What is the Neon Equity AG stock forecast for 2026?
Our models put fair value at €7.46, about +36% upside versus a price of €5.50 (undervalued). Cautious scenario €5.59, optimistic scenario €9.32. The calculation is refreshed regularly with new filings.
What is the revenue of Neon Equity AG (D77)?
Neon Equity AG reported trailing-twelve-month revenue of about €2.5M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Neon Equity AG (D77)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Neon Equity AG it is €7.46 per share (as of Sep 23, 2026), against a price of €5.50. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Neon Equity AG stock overvalued or undervalued in 2026?
As of Sep 23, 2026, D77 trades below its calculated fair value: price €5.50, fair value €7.46, a gap of about +36% (undervalued). 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 D77?
No. The price is what the market pays today (€5.50); the fair value is what the company's own numbers justify (€7.46). For Neon Equity AG the two are €1.96 per share apart. That gap is exactly why we show both numbers side by side.
How much is Neon Equity AG worth?
The market values Neon Equity AG at about €242M (market capitalisation, as of Sep 23, 2026). Per share that is €5.50; our models calculate a fair value of €7.46 per share.
What do the bullish and bearish scenarios say about D77?
Our models span a range for Neon Equity AG: cautious scenario €5.59, base €7.46, optimistic €9.32 per share (as of Sep 23, 2026, price €5.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of D77?
Neon Equity AG trades at a price-to-earnings ratio of 12.0 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €7.46 is built from several models across several years. Other multiples: P/B 0.7, EV/EBITDA 8.6.
How solid is the balance sheet of Neon Equity AG (D77)?
Balance-sheet figures for Neon Equity AG (as of Sep 23, 2026): return on equity 6.9%. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is D77 from its 52-week high?
Neon Equity AG trades at €5.50, about 7% below its 52-week high of €5.90 and 13% above the low of €4.86 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €7.46 is for.
Which stocks are comparable to Neon Equity AG?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, Inc, 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 Neon Equity AG stock attractive at the current price?
The data as of Sep 23, 2026: price €5.50, calculated fair value €7.46 (+36%), Quality Score 50/100, from 2 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 D77 calculated?
We run Neon Equity AG through 2 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 €7.46, 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 13.0 % above its aggregate fair value. Neon Equity AG currently trades 36 % below its own fair value, and the market average says nothing about that. 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 Neon Equity AG (D77)?
The closing price on Sep 24, 2026 was €5.50. Our model-based fair value is €7.46, about +36% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Neon Equity AG right now?
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Neon Equity AG

How large is the market capitalisation of Neon Equity AG (D77)?
The market capitalisation of Neon Equity AG is €242M. 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 are the earnings per share of Neon Equity AG (D77)?
Earnings per share at Neon Equity AG are €0.4600 (price ÷ EPS = P/E 12.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Neon Equity AG (D77)?
The net margin of Neon Equity AG is 920% (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 Neon Equity AG (D77)?
The return on equity (ROE) of Neon Equity AG is 6.9% (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 Neon Equity AG (D77)?
On an EBIT basis the return on assets of Neon Equity AG is 6.4% (avg 4y). 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 Neon Equity AG (D77)?
The operating margin of Neon Equity AG is 733% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Neon Equity AG (D77)?
Revenue at Neon Equity AG is growing +249% versus a year earlier (3y avg −13.1%). 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 Neon Equity AG (D77)?
Earnings per share at Neon Equity AG are growing +11.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Neon Equity AG (D77) carry?
The net debt of Neon Equity AG is €3.5M (fiscal year 2023). 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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