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ERWE Immobilien AG (ERWE) Fair Value & Analysis

Real Estate · DE · Market cap €6.3M

EI ERWE Immobilien AG ERWE · XETRA
Price€0.2500
Fair Value€0.6400
Upside+156.0%
Quality21/100
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Mixed Growth
Loss-making · -199.5% net margin
High debt · negative free cash flow
Mixed vs. peers (4/10)
Narrow moat 15/100
Evidence: Low Range €0.4820 – €0.9650 Share as image

Fair value as of: Jul 11, 2026

From 1 valuation models · updated 30 days ago

Fair value updated Jul 11, 2026, revised from €0.6500 to €0.6400 (−1.5%) since Jun 26, 2026. Share price −2.3% over the past month.

Below-average quality, screening 156% undervalued on our models.

What matters 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 (€0.4820). 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 (€0.4820 to €0.9650) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€4.05 €0.1500 Fair Value €0.6400 Sep 2018 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range €0.1500 – €4.05 · fair‑value band €0.4820 – €0.9650 · the €0.2500 price screens below the €0.6400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

ERWE Immobilien AG (ERWE) currently trades at €0.2500, while our model-based Fair Value estimate is €0.6400, implying the stock looks roughly 156.0% undervalued today. The Quality Score stands at 21/100 (below-average quality), in the Real Estate 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.

Trailing-twelve-month revenue stands at €9.9M. Revenue grew 20.4% year over year. It earns a return on equity of -96.4%. Net debt stands at €174M. Fundamentals as of Jul 11, 2026

Our scenario range runs from €0.4820 (bear case) to €0.9650 (bull case); at €0.2500, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 54% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 156%, ERWE screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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
Highest evidence
NCAV (Graham) €0.4900 €0.6500 €0.9800 50
All 1 models by family
Asset-Based
NCAV (Graham) €0.4900 €0.6500 €0.9800 50

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Key figures & financial health

Revenue (TTM) €9.9M
Revenue growth (YoY) +20.4%
Return on equity -96.4%
Free cash flow −€709K FY2022
Operating margin 4.0%
EPS (TTM) €-1.64
More key figures
EPS growth (YoY) +208%
Net debt €174M FY2022

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 21/100

Of which business quality 19 · Market factors (momentum, volatility) 14

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 1
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 11
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2018 – FY2022 · reported fiscal years

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.

Growth Quality 36/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2022)
€9.9M
Latest YoY
+57.2%
Avg. growth/yr (3Y) 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.
+41.7%
Avg. growth/yr (16Y) 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.
+13.1%
Revenue +37.6%/yr
FY18 €2.8M
FY19 €3.5M
FY20 €6.7M
FY21 €6.3M
FY22 €9.9M
Net income
FY18 €4.5M
FY19 €8.3M
FY20 €257K
FY21 −€9.2M
FY22 −€36.2M

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

Peer Group

Real Estate - Development · 588 stocks

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.

Quality Score 19 · Bottom 25%
Fair Value upside +156% · Top 25%
Return on assets -0% · Below median
Net margin (TTM) -200% · Bottom 25%
Operating margin (TTM) 4% · Below median
Revenue growth 20% · Above median
Debt / equity 2.74× · Higher than 75% of peers

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/B 0.30× · Cheaper than median
P/S (TTM) 0.71× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 48
FUTURE 100 · sector 0
PAST 0 · sector 10
HEALTH 0 · sector 84
DIVIDEND 0 · sector 38

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is ERWE Immobilien AG (ERWE) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of €0.6400 versus a price of €0.2500, about +156% (undervalued).
What is the fair value of ERWE?
Our model-based fair value for ERWE Immobilien AG is €0.6400 (as of Jul 11, 2026), built from audited fundamentals. The current price is €0.2500.
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 revenue of ERWE Immobilien AG (ERWE)?
ERWE Immobilien AG reported trailing-twelve-month revenue of about €9.9M (latest available figure, as of Jul 11, 2026).
What is the net profit margin of ERWE?
The net profit margin of ERWE Immobilien AG is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. 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.

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