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ERWE Immobilien AG (ERWE) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of ERWE Immobilien AG €0.55, price €0.22, upside +150.0%, quality 21 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? No
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Real Estate · DE · ISIN DE000A1X3WX6

EI Thin data Sep 23, 2026

ERWE Immobilien AG

ERWE · XETRA

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value €0.5500 · Strongly undervalued (+150%)
!Quality 21/100
!Mixed Growth (revenue 3y +41.7 %/yr)
!Loss-making · -199.5% net margin (TTM)
!High debt · negative free cash flow
!Mixed vs. peers (4/10)
!Narrow moat 15/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

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

Price vs Fair Value

€4.05 €0.1500 Fair Value €0.5500 Dec 2018 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

60‑month range €0.1500 – €4.05 · fair‑value band €0.4150 – €0.8290 · the €0.2200 price screens below the €0.5500 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

ERWE Immobilien AG is a real estate investment firm based in Munich, Germany. As of October 17, 2017, ERWE Immobilien AG operates as a subsidiary of Elbstein AG.

Stock analysis

ERWE Immobilien AG (ERWE) currently trades at €0.2200, while our model-based Fair Value estimate is €0.5500, implying the stock looks roughly 60.0% undervalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 88/100, which puts the evidence level at low.

Scenario range: €0.4150 (bear) to €0.8290 (bull), the price of €0.2200 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 21/100 (below-average quality), in the Real Estate sector.

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

ERWE Immobilien AG reported revenue of €9.9M in FY2022 versus €2.8M in FY2018, a compound +37.6%/yr. Reported net income was −€36.2M in FY2022.

Key figures

Market cap €6.3M · P/S ratio 0.61 · EPS (TTM) €−1.23 · Net margin −200% · Return on equity −154% · Return on assets (EBIT) 1.9% · Operating margin 4.0% · Revenue (TTM) €10.2M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 59% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at 150%, ERWE screens cheaper than that median.

Fair Value models

Bear €0.4150 Fair Value €0.5500 Bull €0.8290
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
NCAV (Graham) €0.4900 €0.6500 €0.9800 54
All 1 models by family
Asset-Based
NCAV (Graham) €0.4900 €0.6500 €0.9800 54

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Quality Score breakdown

Overall quality 21/100

Of which business quality 19 · Market factors (momentum, volatility) 17

Profitability 1
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 3
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 11
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. 36/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+57.2%
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.
+41.7%
Revenue growth 16 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.
+13.1%
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.
−66,173.3% (2017) → −16.2% (2022)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2022 is a loss year, no rate is defined from a loss
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.Real Estate - Development · 578 stocks

Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 19 · Bottom 25%
Fair Value upside +150% · Top 25%
Profitability
Return on assets 0% · Below median
Net margin (TTM) −200% · Bottom 25%
Operating margin (TTM) 4% · Below median
Growth and dividend
Revenue growth 20% · Above median
Balance sheet
Debt / equity 2.74× · Highest 25%

Valuation Multiplesvs Real Estate - Development median · lower = cheaper

P/B 0.30× · Cheaper than median
P/S (TTM) 0.70× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 48
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)0 · sector 11
HEALTH (low debt)0 · sector 83
DIVIDEND (yield)0 · sector 55

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Sun Hung Kai Properties Limited 0016 HK$109.10 HK$147.78 +35%
China Resources Land Limited 1109 HK$29.62 HK$74.05 +150%
Vinhomes Joint Stock Company VHM 68,200 VND 112,796 VND +65%
CK Asset Holdings 1113 HK$46.44 HK$71.69 +54%
Hongkong Land Holdings H78 $8.74 $1.52 −83%
DLF Limited DLF ₹675.00 ₹167.21 −75%
China Overseas Land & Investment Limited 0688 HK$12.43 HK$22.35 +80%
Lodha Developers Limited LODHA ₹1,163 ₹275.95 −76%
Poly Developments and Holdings 600048 ¥5.64 ¥14.10 +150%
CTP N.V CTPNV €13.58 €10.30 −24%

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

Frequently asked questions

Is ERWE Immobilien AG (ERWE) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €0.5500 versus a price of €0.2200, about +150% upside (undervalued).
What is the fair value of ERWE?
Our model-based fair value for ERWE Immobilien AG is €0.5500 (as of Sep 23, 2026), built from audited fundamentals. The current price: €0.2200.
What is the quality score of ERWE?
ERWE Immobilien AG has a Quality Score of 21/100. 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 ERWE Immobilien AG (ERWE)?
Our model-based price target is the fair value of €0.5500 (as of Sep 23, 2026) from 1 valuation models. Cautious scenario €0.4150, optimistic scenario €0.8290. It is a calculation from audited fundamentals, not an analyst target.
What is the ERWE Immobilien AG stock forecast for 2026?
Our models put fair value at €0.5500, about +150% upside versus a price of €0.2200 (undervalued). Cautious scenario €0.4150, optimistic scenario €0.8290. The calculation is refreshed regularly with new filings.
What is the revenue of ERWE Immobilien AG (ERWE)?
ERWE Immobilien AG reported trailing-twelve-month revenue of about €10.2M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of ERWE Immobilien AG (ERWE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ERWE Immobilien AG it is €0.5500 per share (as of Sep 23, 2026), against a price of €0.2200. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is ERWE Immobilien AG stock overvalued or undervalued in 2026?
As of Sep 23, 2026, ERWE trades below its calculated fair value: price €0.2200, fair value €0.5500, a gap of about +150% (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 ERWE?
No. The price is what the market pays today (€0.2200); the fair value is what the company's own numbers justify (€0.5500). For ERWE Immobilien AG the two are €0.3300 per share apart. That gap is exactly why we show both numbers side by side.
How much is ERWE Immobilien AG worth?
The market values ERWE Immobilien AG at about €6.3M (market capitalisation, as of Sep 23, 2026). Per share that is €0.2200; our models calculate a fair value of €0.5500 per share.
What do the bullish and bearish scenarios say about ERWE?
Our models span a range for ERWE Immobilien AG: cautious scenario €0.4150, base €0.5500, optimistic €0.8290 per share (as of Sep 23, 2026, price €0.2200). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of ERWE Immobilien AG (ERWE)?
Balance-sheet figures for ERWE Immobilien AG (as of Sep 23, 2026): return on equity −154.4%, debt of 2.74 per unit of equity. They feed the Quality Score of 21/100, which measures business quality independently of the share price.
How far is ERWE from its 52-week high?
ERWE Immobilien AG trades at €0.2200, about 59% below its 52-week high of €0.5350 and at the low of €0.2200 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €0.5500 is for.
Which stocks are comparable to ERWE Immobilien AG?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, Vinhomes Joint Stock Company, CK Asset Holdings, 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 ERWE Immobilien AG stock attractive at the current price?
The data as of Sep 23, 2026: price €0.2200, calculated fair value €0.5500 (+150%), Quality Score 21/100, from 1 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 ERWE calculated?
We run ERWE Immobilien AG through 1 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 €0.5500, 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 14.0 % above its aggregate fair value. ERWE Immobilien AG currently trades 150 % 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 ERWE Immobilien AG (ERWE)?
The closing price on Sep 24, 2026 was €0.2200. Our model-based fair value is €0.5500, about +150% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ERWE Immobilien AG right now?
The large discount to fair value meets weak quality (21/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (€0.4150). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (€0.4150 to €0.8290) leaves room in how you read the outcome.

Key figures of ERWE Immobilien AG

How large is the market capitalisation of ERWE Immobilien AG (ERWE)?
The market capitalisation of ERWE Immobilien AG is €6.3M. 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 ERWE Immobilien AG (ERWE)?
The price-to-sales ratio of ERWE Immobilien AG is 0.61 (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 ERWE Immobilien AG (ERWE)?
Earnings per share at ERWE Immobilien AG are €−1.23. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of ERWE Immobilien AG (ERWE)?
The net margin of ERWE Immobilien AG is −200% (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 ERWE Immobilien AG (ERWE)?
The return on equity (ROE) of ERWE Immobilien AG is −154% (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 ERWE Immobilien AG (ERWE)?
On an EBIT basis the return on assets of ERWE Immobilien AG is 1.9% (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 ERWE Immobilien AG (ERWE)?
The operating margin of ERWE Immobilien AG is 4.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ERWE Immobilien AG (ERWE)?
Revenue at ERWE Immobilien AG is growing +20.4% versus a year earlier (3y avg +41.7%). 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 ERWE Immobilien AG (ERWE)?
Earnings per share at ERWE Immobilien AG are growing +208% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ERWE Immobilien AG (ERWE) generate?
The free cash flow of ERWE Immobilien AG is −€709K (fiscal year 2022). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does ERWE Immobilien AG (ERWE) carry?
The net debt of ERWE Immobilien AG is €174M (fiscal year 2022). 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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