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pferdewetten.de AG (EMH) Fair Value & Analysis

Basic Materials · DE · Market cap €11.2M

PD pferdewetten.de AG EMH · XETRA
Price€2.48
Fair Value€2.49
Upside+0.4%
Quality85/100
Evidence: Low Range €1.17 – €4.07

Fair value as of: Jun 25, 2026

From 3 valuation models · updated 4 days ago

Fair value updated Jun 25, 2026 — revised from €24.86 to €2.49 (−90.0%) since Jun 24, 2026. Share price −15.9% over the past month.

Price vs Fair Value (12 months)

€3.45 €2.29 Fair Value €2.49 Jun 2025 Jun 2026

12‑month range €2.29 – €3.45 · fair‑value band €1.17 – €4.07 · the €2.48 price screens below the €2.49 fair value. As of Jun 25, 2026.

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Analysis

pferdewetten.de AG (EMH) currently trades at €2.48, while our model-based Fair Value estimate is €2.49 — implying the stock looks roughly 0.4% undervalued today. We read business quality at 85/100 (high quality), in the Basic Materials 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: low) — always confirm before acting.

Over the trailing twelve months, pferdewetten.de AG generated revenue of €55.8M at a net margin of -37.9%. Revenue grew 25.6% year over year. It earns a return on equity of -60.8%. The balance sheet holds a net cash position of €10.7M. Fundamentals as of Jun 25, 2026

Key figures & financial health

Revenue (TTM) €55.8M
Revenue growth (YoY) +25.6%
Net margin -37.9%
Return on equity -60.8%
Free cash flow −€2.4M FY2022
Operating margin -7.6%
More key figures
EPS (TTM) €-0.0400
EPS growth (YoY) +1,629%
Net cash €10.7M FY2022

Figures from reported company fundamentals (EODHD) · as of Jun 25, 2026. TTM = trailing twelve months.

About the company

pferdewetten.de AG, together with its subsidiaries, engages in the online horse betting business in Germany and internationally. Its horse betting services range from betting on German gallop and trotting to English, French, and other international horse races. The company also offers consulting and training services for the implementation and processing of sports and horse betting; and technical services, such as server services, web development, video streaming, payment systems, content management, and shop solutions. The company was formerly known as Sportwetten.de AG. pferdewetten.de AG was founded in 1997 and is headquartered in Düsseldorf, Germany.

Revenue & earnings trend

FY2018 – FY2022 · reported fiscal years

pferdewetten.de AG reported revenue of €15.3M in FY2022 versus €11.1M in FY2018, a compound +8.4%/yr. Reported net income was −€1.5M in FY2022.

Revenue +8.4%/yr
FY18 €11.1M
FY19 €14.4M
FY20 €14.2M
FY21 €12.7M
FY22 €15.3M
Net income
FY18 −€558K
FY19 €3.3M
FY20 €1.5M
FY21 −€157K
FY22 −€1.5M

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Frequently asked questions

Is pferdewetten.de AG (EMH) undervalued?
As of Jun 25, 2026, our model estimates a fair value of €2.49 versus a price of €2.48 — about +0% (undervalued). Model-based estimate, not financial advice.
What is the fair value of EMH?
Our 21-model fair value for pferdewetten.de AG is €2.49 (as of Jun 25, 2026), built from audited fundamentals. The current price is €2.48.
What is the quality score of EMH?
pferdewetten.de AG has a Quality Score of 85/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of pferdewetten.de AG (EMH)?
pferdewetten.de AG reported trailing-twelve-month revenue of about €55.8M (latest available figure, as of Jun 25, 2026).
What is the net profit margin of EMH?
The net profit margin of pferdewetten.de AG is about -37.9%, meaning it is currently running at a net loss. 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.