Fundamenta Real Estate AG (FREN) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Fundamenta Real Estate AG CHF 9.05, price CHF 16.90, upside -46.5%, quality 59 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 23, 2026.
How to read this chart
60‑month range CHF 12.55 – CHF 18.51 · fair‑value band CHF 6.04 – CHF 10.07 · the CHF 16.90 price screens above the CHF 9.05 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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Fundamenta Real Estate AG engages in the acquisition, development, and holding of residential properties in Switzerland. The company was incorporated in 2006 and is headquartered in Zug, Switzerland.
Stock analysis
Fundamenta Real Estate AG (FREN) currently trades at CHF 16.90, while our model-based Fair Value estimate is CHF 9.05, implying the stock looks roughly 86.7% overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of CHF 14.35 per share, and 1 of the 7 models we run sit above the CHF 16.90 price.
Bear case: the Dividend Discount group reads lowest at CHF 6.75, and 6 of the 7 models stay below the price. Evidence for this calculation is high.
Scenario range: CHF 6.04 (bear) to CHF 10.07 (bull), the price of CHF 16.90 sits above 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 59/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Fundamenta Real Estate AG reported revenue of CHF 42.4M in FY2025 versus CHF 37.3M in FY2021, a compound +3.3%/yr. Reported net income was CHF 46.1M in FY2025, compounding +12.3%/yr from FY2021.
Key figures
Market cap CHF 573M · P/E ratio 11.3 · P/S ratio 12.3 · EPS (TTM) CHF 1.50 · Dividend yield 3.6% · Net margin 109% · Return on equity 8.2% · Return on assets (EBIT) 2.6%.
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 9% below its 52-week high and 3% 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 −46%, FREN screens richer than that median.
Fair Value models
Bear CHF 6.04Fair Value CHF 9.05Bull CHF 10.07
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 (CHF 0.6584 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.64/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+1.3%
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.
+1.2%
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.
+4.8%
Start year 2020 (pandemic). Over 10 years: +9.5% a year
Revenue growth 13 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.
+12.1%
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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.
≈ +5.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.8%
Dividend (yield on the price)3.6%
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.8% vs 6%, steady
Profit margin 2020 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.67% → 70%
Start year 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 103% 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.
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).
+27.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Switzerland: IMF forecast 0.6% a year to 2030, 0.8% from 2016 to 2025) that is about +26.4% a year for the price.
Compare Fundamenta Real Estate AG with another stock
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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 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−46% · Bottom 25%
Profitability
Return on equity (TTM)8% · Above median
Return on assets1% · Below median
Net margin (TTM)109% · Top 25%
Operating margin (TTM)70% · Top 25%
Growth and dividend
Revenue growth1% · Below median
Dividend yield (TTM)3.6% · Above median
Balance sheet
Debt / equity0.92× · Above median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
P/E (TTM)11.3× · Cheaper than median
P/B1.14× · Pricier than median
P/S (TTM)16.41× · Priciest 25%
P/FCF32.2× · Priciest 25%
EV/EBITDA19.6× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 37
FUTURE (revenue growth)5· sector 12
PAST (return on equity)33· sector 16
HEALTH (low debt)54· sector 83
DIVIDEND (yield)71· sector 64
VALUE 0: the price sits above our fair-value range.
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). "Fundamenta Real Estate AG Fair Value". https://www.fairvalue-calculator.com/stock/FREN
Frequently asked questions
Is Fundamenta Real Estate AG (FREN) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of CHF 9.05 versus a price of CHF 16.90, about −46% upside (overvalued).
What is the fair value of FREN?
Our model-based fair value for Fundamenta Real Estate AG is CHF 9.05 (as of Sep 23, 2026), built from audited fundamentals. The current price: CHF 16.90.
What is the quality score of FREN?
Fundamenta Real Estate AG has a Quality Score of 59/100. 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 Fundamenta Real Estate AG (FREN)?
Our model-based price target is the fair value of CHF 9.05 (as of Sep 23, 2026) from 8 valuation models. Cautious scenario CHF 6.04, optimistic scenario CHF 10.07. It is a calculation from audited fundamentals, not an analyst target.
What is the Fundamenta Real Estate AG stock forecast for 2026?
Our models put fair value at CHF 9.05, about −46% upside versus a price of CHF 16.90 (overvalued). Cautious scenario CHF 6.04, optimistic scenario CHF 10.07. The calculation is refreshed regularly with new filings.
What is the revenue of Fundamenta Real Estate AG (FREN)?
Fundamenta Real Estate AG reported trailing-twelve-month revenue of about CHF 42.3M (latest available figure, as of Sep 23, 2026).
Does Fundamenta Real Estate AG pay a dividend?
Fundamenta Real Estate AG currently shows a dividend yield of about 3.55% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Fundamenta Real Estate AG (FREN)?
For today's price to be fair in a discounted-cash-flow model, Fundamenta Real Estate AG would have to grow free cash flow by +27.1 % 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 +4.8 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of FREN use?
Our models discount Fundamenta Real Estate AG at 9.6 %: a base by market capitalisation (small), damped by beta 0.12, country premium for Switzerland. 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 Fundamenta Real Estate AG that is +27.1 % 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 Fundamenta Real Estate AG (FREN) delivered so far?
Over the past 5 years revenue at Fundamenta Real Estate AG grew +4.8 % a year. The price currently implies +27.1 % 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 Fundamenta Real Estate AG (FREN) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Fundamenta Real Estate AG (+27.1 % 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 Fundamenta Real Estate AG (FREN)?
The free-cash-flow yield on the price is 4.16 %: that much free cash flow Fundamenta Real Estate 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 Fundamenta Real Estate AG (FREN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fundamenta Real Estate AG it is CHF 9.05 per share (as of Sep 23, 2026), against a price of CHF 16.90. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is Fundamenta Real Estate AG stock overvalued or undervalued in 2026?
As of Sep 23, 2026, FREN trades above its calculated fair value: price CHF 16.90, fair value CHF 9.05, a gap of about −46% (overvalued). 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 FREN?
No. The price is what the market pays today (CHF 16.90); the fair value is what the company's own numbers justify (CHF 9.05). For Fundamenta Real Estate AG the two are CHF 7.85 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fundamenta Real Estate AG worth?
The market values Fundamenta Real Estate AG at about CHF 573M (market capitalisation, as of Sep 23, 2026). Per share that is CHF 16.90; our models calculate a fair value of CHF 9.05 per share.
What do the bullish and bearish scenarios say about FREN?
Our models span a range for Fundamenta Real Estate AG: cautious scenario CHF 6.04, base CHF 9.05, optimistic CHF 10.07 per share (as of Sep 23, 2026, price CHF 16.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FREN?
Fundamenta Real Estate AG trades at a price-to-earnings ratio of 11.3 (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 CHF 9.05 is built from several models across several years. Other multiples: P/B 1.1, P/S 16.4, EV/EBITDA 19.6.
How solid is the balance sheet of Fundamenta Real Estate AG (FREN)?
Balance-sheet figures for Fundamenta Real Estate AG (as of Sep 23, 2026): return on equity 8.2%, debt of 0.92 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is FREN from its 52-week high?
Fundamenta Real Estate AG trades at CHF 16.90, about 9% below its 52-week high of CHF 18.51 and 3% above the low of CHF 16.48 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 9.05 is for.
Which stocks are comparable to Fundamenta Real Estate 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 Fundamenta Real Estate AG stock attractive at the current price?
The data as of Sep 23, 2026: price CHF 16.90, calculated fair value CHF 9.05 (−46%), Quality Score 59/100, from 8 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 FREN calculated?
We run Fundamenta Real Estate AG through 8 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 CHF 9.05, 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. Fundamenta Real Estate AG itself currently trades above fair value. 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 Fundamenta Real Estate AG (FREN)?
The closing price on Sep 23, 2026 was CHF 16.90. Our model-based fair value is CHF 9.05, about −46% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fundamenta Real Estate AG right now?
The price sits above even our optimistic bull case (CHF 10.07). The favourable scenario is already priced in. Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Fundamenta Real Estate AG (FREN) come from?
Earnings per share at Fundamenta Real Estate AG grew +1.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share −0.2 %, EBIT margin +2.4 %, tax rate +0.1 %, residual (interest, one-offs) −1.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Fundamenta Real Estate AG
How large is the market capitalisation of Fundamenta Real Estate AG (FREN)?
The market capitalisation of Fundamenta Real Estate AG is CHF 573M. 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 Fundamenta Real Estate AG (FREN)?
The price-to-sales ratio of Fundamenta Real Estate AG is 12.3 (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 Fundamenta Real Estate AG (FREN)?
Earnings per share at Fundamenta Real Estate AG are CHF 1.50 (price ÷ EPS = P/E 11.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fundamenta Real Estate AG (FREN)?
The dividend yield of Fundamenta Real Estate AG is 3.6% (payout 40.0%). 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 Fundamenta Real Estate AG (FREN)?
The net margin of Fundamenta Real Estate AG is 109% (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 Fundamenta Real Estate AG (FREN)?
The return on equity (ROE) of Fundamenta Real Estate AG is 8.2% (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 Fundamenta Real Estate AG (FREN)?
On an EBIT basis the return on assets of Fundamenta Real Estate AG is 2.6% (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 Fundamenta Real Estate AG (FREN)?
The operating margin of Fundamenta Real Estate AG is 69.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fundamenta Real Estate AG (FREN)?
Revenue at Fundamenta Real Estate AG is growing +0.9% versus a year earlier (3y avg +1.2%). 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 Fundamenta Real Estate AG (FREN)?
Earnings per share at Fundamenta Real Estate AG are growing −9.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Fundamenta Real Estate AG (FREN) carry?
The net debt of Fundamenta Real Estate AG is CHF 585M (fiscal year 2025, ≈ 27.1 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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