Deutsche EuroShop AG (DEQ) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Deutsche EuroShop AG €25.08, price €17.54, upside +43.0%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 €7.88 – €20.72 · fair‑value band €17.59 – €36.62 · the €17.54 price screens below the €25.08 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Deutsche EuroShop AG is the only public company in Germany to invest exclusively in shopping centers in prime locations. The company currently has investments in 21 shopping centers in Germany, Austria, Poland, the Czech Republic and Hungary.
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Deutsche EuroShop AG is the only public company in Germany to invest exclusively in shopping centers in prime locations. The company currently has investments in 21 shopping centers in Germany, Austria, Poland, the Czech Republic and Hungary. The portfolio includes the Main-Taunus-Zentrum near Frankfurt, the Altmarkt-Galerie in Dresden and the Galeria Baltycka in Gdansk, among many others. Deutsche EuroShop AG was established on October 10, 1997 and incorporated in Germany.
Stock analysis
Deutsche EuroShop AG (DEQ) currently trades at €17.54, while our model-based Fair Value estimate is €25.08, implying the stock looks roughly 30.1% undervalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of €28.12 per share, and 8 of the 16 models we run sit above the €17.54 price.
Bear case: the Growth DCF group reads lowest at €5.34, and 8 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: €17.59 (bear) to €36.62 (bull), the price of €17.54 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 60/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Deutsche EuroShop AG reported revenue of €273M in FY2025 versus €212M in FY2021, a compound +6.6%/yr. Reported net income was €215M in FY2025, compounding +37.6%/yr from FY2021.
Key figures
Market cap €1.3B · P/E ratio 6.3 · P/S ratio 4.93 · EPS (TTM) €2.80 · Dividend yield 5.7% · Net margin 78.7% · Return on equity 10.3% · Return on assets (EBIT) 4.4%.
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 12% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −37% fair-value upside, at 43%, DEQ screens cheaper than that median.
Fair Value models
Bear €17.59Fair Value €25.08Bull €36.62
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 (€1.32 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.
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.63/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+0.7%
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.
+8.7%
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.
+4.0%
Start year 2020 (pandemic). Over 10 years: +3.0% a year
Revenue growth 23 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.
+8.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
≈ +5.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.0%
Dividend (yield on the price)5.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.16% vs −3%, picking up
Profit margin 2007 to 2025 ⓘ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.82% → 78%
Start year 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 189% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+11.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +9.4% a year for the price and −0.9% for the forecasts.
Price, fair value, quality and upside side by side.
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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.Real Estate Services · 546 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside+43% · Above median
Profitability
Return on equity (TTM)10% · Top 25%
Return on assets3% · Above median
Net margin (TTM)75% · Top 25%
Operating margin (TTM)76% · Top 25%
Growth and dividend
Revenue growth2% · Below median
Dividend yield (TTM)5.7% · Above median
Balance sheet
Debt / equity1.02× · Highest 25%
Valuation Multiplesvs Real Estate Services median · lower = cheaper
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.
Cite: Fair Value Calculator (2026). "Deutsche EuroShop AG Fair Value". https://www.fairvalue-calculator.com/stock/DEQ
Frequently asked questions
Is Deutsche EuroShop AG (DEQ) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €25.08 versus a price of €17.54, about +43% upside (undervalued).
What is the fair value of DEQ?
Our model-based fair value for Deutsche EuroShop AG is €25.08 (as of Sep 24, 2026), built from audited fundamentals. The current price: €17.54.
What is the quality score of DEQ?
Deutsche EuroShop AG has a Quality Score of 60/100. 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 Deutsche EuroShop AG (DEQ)?
Our model-based price target is the fair value of €25.08 (as of Sep 24, 2026) from 16 valuation models. Cautious scenario €17.59, optimistic scenario €36.62. It is a calculation from audited fundamentals, not an analyst target.
What is the Deutsche EuroShop AG stock forecast for 2026?
Our models put fair value at €25.08, about +43% upside versus a price of €17.54 (undervalued). Cautious scenario €17.59, optimistic scenario €36.62. The calculation is refreshed regularly with new filings.
What is the revenue of Deutsche EuroShop AG (DEQ)?
Deutsche EuroShop AG reported trailing-twelve-month revenue of about €283M (latest available figure, as of Sep 24, 2026).
Does Deutsche EuroShop AG pay a dividend?
Deutsche EuroShop AG currently shows a dividend yield of about 5.70% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Deutsche EuroShop AG (DEQ)?
For today's price to be fair in a discounted-cash-flow model, Deutsche EuroShop AG would have to grow free cash flow by +11.8 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of DEQ use?
Our models discount Deutsche EuroShop AG at 9.6 %: a base by market capitalisation (small), damped by beta 0.42, 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 Deutsche EuroShop AG that is +11.8 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Deutsche EuroShop AG (DEQ) delivered so far?
Over the past 5 years revenue at Deutsche EuroShop AG grew +4.1 % a year. The price currently implies +11.8 % 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 Deutsche EuroShop AG (DEQ) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Deutsche EuroShop AG (+11.8 % 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 Deutsche EuroShop AG (DEQ)?
The free-cash-flow yield on the price is 10.00 %: that much free cash flow Deutsche EuroShop AG produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Deutsche EuroShop AG (DEQ)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Deutsche EuroShop AG it is €25.08 per share (as of Sep 24, 2026), against a price of €17.54. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Deutsche EuroShop AG stock overvalued or undervalued in 2026?
As of Sep 24, 2026, DEQ trades below its calculated fair value: price €17.54, fair value €25.08, a gap of about +43% (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 DEQ?
No. The price is what the market pays today (€17.54); the fair value is what the company's own numbers justify (€25.08). For Deutsche EuroShop AG the two are €7.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is Deutsche EuroShop AG worth?
The market values Deutsche EuroShop AG at about €1.3B (market capitalisation, as of Sep 24, 2026). Per share that is €17.54; our models calculate a fair value of €25.08 per share.
What do the bullish and bearish scenarios say about DEQ?
Our models span a range for Deutsche EuroShop AG: cautious scenario €17.59, base €25.08, optimistic €36.62 per share (as of Sep 24, 2026, price €17.54). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DEQ?
Deutsche EuroShop AG trades at a price-to-earnings ratio of 6.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €25.08 is built from several models across several years. Other multiples: PEG 10.1, P/B 0.8, P/S 5.3, EV/EBITDA 13.7.
What is the PEG ratio of DEQ?
The PEG ratio of Deutsche EuroShop AG is 10.13 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Deutsche EuroShop AG (DEQ)?
Balance-sheet figures for Deutsche EuroShop AG (as of Sep 24, 2026): return on equity 10.3%, debt of 1.02 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is DEQ from its 52-week high?
Deutsche EuroShop AG trades at €17.54, about 12% below its 52-week high of €19.86 and 2% above the low of €17.16 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of €25.08 is for.
Which stocks are comparable to Deutsche EuroShop AG?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, Vonovia SE, Cellnex Telecom, S.A, 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 Deutsche EuroShop AG stock attractive at the current price?
The data as of Sep 24, 2026: price €17.54, calculated fair value €25.08 (+43%), Quality Score 60/100, from 16 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 DEQ calculated?
We run Deutsche EuroShop AG through 16 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 €25.08, 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. Deutsche EuroShop AG currently trades 43 % 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 Deutsche EuroShop AG (DEQ)?
The closing price on Sep 23, 2026 was €17.54. Our model-based fair value is €25.08, about +43% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Deutsche EuroShop AG right now?
Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (€17.59 to €36.62) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Deutsche EuroShop AG
How large is the market capitalisation of Deutsche EuroShop AG (DEQ)?
The market capitalisation of Deutsche EuroShop AG is €1.3B. 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 Deutsche EuroShop AG (DEQ)?
The price-to-sales ratio of Deutsche EuroShop AG is 4.93 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Deutsche EuroShop AG (DEQ)?
Earnings per share at Deutsche EuroShop AG are €2.80 (price ÷ EPS = P/E 6.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Deutsche EuroShop AG (DEQ)?
The dividend yield of Deutsche EuroShop AG is 5.7% (payout 35.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Deutsche EuroShop AG (DEQ)?
The net margin of Deutsche EuroShop AG is 78.7% (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 Deutsche EuroShop AG (DEQ)?
The return on equity (ROE) of Deutsche EuroShop AG is 10.3% (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 Deutsche EuroShop AG (DEQ)?
On an EBIT basis the return on assets of Deutsche EuroShop AG is 4.4% (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 Deutsche EuroShop AG (DEQ)?
The operating margin of Deutsche EuroShop AG is 76.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Deutsche EuroShop AG (DEQ)?
Revenue at Deutsche EuroShop AG is growing +2.0% versus a year earlier (3y avg +8.7%). 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 Deutsche EuroShop AG (DEQ)?
Earnings per share at Deutsche EuroShop AG are growing −10.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Deutsche EuroShop AG (DEQ) carry?
The net debt of Deutsche EuroShop AG is €1.7B (fiscal year 2025, ≈ 12.8 yrs of FCF). 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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