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FORIS AG (FRS) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of FORIS AG €1.04, price €3.00, upside -65.3%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Financial Services · DE · ISIN DE0005775803

FA Thin data Sep 23, 2026

FORIS AG

FRS · XETRA

Weakest SetupStrongly overvalued and low quality.

!Fair value €1.04 · Strongly overvalued (−65%)
!Quality 47/100
!Expensive Growth (revenue 5y +5.9 %/yr)
!Loss-making · -0.6% net margin (TTM)
!negative free cash flow
!Trails peers (2/10)
!Narrow moat 17/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

€4.32 €1.24 Fair Value €1.04 Aug 2016 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 €1.24 – €4.32 · fair‑value band €0.8300 – €1.36 · the €3.00 price screens above the €1.04 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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Company profile

FORIS AG provides legal financial services in Germany. The company offers commercial litigation funding services; trades in shelf companies support services for companies, and several other legal-related services; corporate services, such as data maintenance in transparency register, management, liquidation, business address, as well as comfortplus package.

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FORIS AG provides legal financial services in Germany. The company offers commercial litigation funding services; trades in shelf companies support services for companies, and several other legal-related services; corporate services, such as data maintenance in transparency register, management, liquidation, business address, as well as comfortplus package. FORIS AG was incorporated in 1996 and is based in Bonn, Germany.

Stock analysis

FORIS AG (FRS) currently trades at €3.00, while our model-based Fair Value estimate is €1.04, implying the stock looks roughly 188.4% overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of €2.51 per share, and 0 of the 4 models we run sit above the €3.00 price.

Bear case: the DCF Models group reads lowest at €0.7400, and 4 of the 4 models stay below the price. Evidence for this calculation is low.

Scenario range: €0.8300 (bear) to €1.36 (bull), the price of €3.00 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 47/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

FORIS AG reported revenue of €22.6M in FY2025 versus €20.8M in FY2021, a compound +2.2%/yr. Reported net income was −€131K in FY2025.

Key figures

Market cap €15.1M · P/S ratio 0.67 · EPS (TTM) €−0.0300 · Dividend yield 4.5% · Net margin −0.6% · Return on equity −0.7% · Return on assets (EBIT) 3.0% · Operating margin −3.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 21% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −32% fair-value upside, at −65%, FRS screens richer than that median.

Fair Value models

Bear €0.8300 Fair Value €1.04 Bull €1.36
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
Owner Earnings €0.6400 €0.7400 €0.8800 75
Gordon GGM €1.32 €1.93 €2.55 69
DDM Multi-Stage €1.32 €1.85 €2.43 67
All 4 models by family
DCF Models
Owner Earnings €0.6400 €0.7400 €0.8800 75
Dividend Discount
Gordon GGM €1.32 €1.93 €2.55 69
DDM Multi-Stage €1.32 €1.85 €2.43 67
Asset-Based
NCAV (Graham) €1.88 €2.51 €3.75 51

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Quality Score breakdown

Overall quality 47/100

Of which business quality 48 · Market factors (momentum, volatility) 38

Profitability 26
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 86
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. 19/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−23.9%
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.
+1.1%
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.
+5.9%
Start year 2020 (pandemic). Over 10 years: +1.3% a year
Revenue growth 18 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.
−1.4%
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.
−2.2% (2020) → −1.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

FRS screens 188% overvalued. Compare with Visa Inc →

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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.Credit Services · 331 stocks

Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 46 · Below median
Fair Value upside −65% · Bottom 25%
Profitability
Return on assets −3% · Bottom 25%
Net margin (TTM) −1% · Bottom 25%
Operating margin (TTM) −3% · Bottom 25%
Growth and dividend
Revenue growth −9% · Bottom 25%
Dividend yield (TTM) 4.5% · Above median

Valuation Multiplesvs Credit Services median · lower = cheaper

P/B 1.00× · Pricier than median
P/S (TTM) 0.76× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 49
FUTURE (revenue growth)0 · sector 36
PAST (return on equity)0 · sector 32
HEALTH (low debt)0 · sector 59
DIVIDEND (yield)91 · sector 68

VALUE 0: the price sits above our fair-value range.

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 Credit Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Visa Inc V $367.98 $221.29 −40%
Mastercard Incorporated MA $566.08 $359.54 −36%
American Express Company AXP $301.96 $206.40 −32%
Capital One Financial Corporation COF $196.10 $125.36 −36%
Bajaj Finance Limited BAJFINANCE ₹1,043 ₹1,101 +6%
PayPal Holdings PYPL $52.89 $99.46 +88%
Affirm Holdings AFRM $68.09 $16.24 −76%
Shriram Finance Limited SHRIRAMFIN ₹1,011 ₹1,374 +36%
Synchrony Financial, SYF $70.67 $137.28 +94%
SoFi Technologies, Inc SOFI $16.55 $5.57 −66%

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FORIS AG · Fair Value
€1.04 −188%Fair Value
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Cite: Fair Value Calculator (2026). "FORIS AG Fair Value". https://www.fairvalue-calculator.com/stock/FRS

Frequently asked questions

Is FORIS AG (FRS) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €1.04 versus a price of €3.00, about −65% upside (overvalued).
What is the fair value of FRS?
Our model-based fair value for FORIS AG is €1.04 (as of Sep 23, 2026), built from audited fundamentals. The current price: €3.00.
What is the quality score of FRS?
FORIS AG has a Quality Score of 47/100. 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 FORIS AG (FRS)?
Our model-based price target is the fair value of €1.04 (as of Sep 23, 2026) from 4 valuation models. Cautious scenario €0.8300, optimistic scenario €1.36. It is a calculation from audited fundamentals, not an analyst target.
What is the FORIS AG stock forecast for 2026?
Our models put fair value at €1.04, about −65% upside versus a price of €3.00 (overvalued). Cautious scenario €0.8300, optimistic scenario €1.36. The calculation is refreshed regularly with new filings.
What is the revenue of FORIS AG (FRS)?
FORIS AG reported trailing-twelve-month revenue of about €22.6M (latest available figure, as of Sep 23, 2026).
Does FORIS AG pay a dividend?
FORIS AG currently shows a dividend yield of about 4.54% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of FORIS AG (FRS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FORIS AG it is €1.04 per share (as of Sep 23, 2026), against a price of €3.00. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is FORIS AG stock overvalued or undervalued in 2026?
As of Sep 23, 2026, FRS trades above its calculated fair value: price €3.00, fair value €1.04, a gap of about −65% (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 FRS?
No. The price is what the market pays today (€3.00); the fair value is what the company's own numbers justify (€1.04). For FORIS AG the two are €1.96 per share apart. That gap is exactly why we show both numbers side by side.
How much is FORIS AG worth?
The market values FORIS AG at about €15.1M (market capitalisation, as of Sep 23, 2026). Per share that is €3.00; our models calculate a fair value of €1.04 per share.
What do the bullish and bearish scenarios say about FRS?
Our models span a range for FORIS AG: cautious scenario €0.8300, base €1.04, optimistic €1.36 per share (as of Sep 23, 2026, price €3.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of FORIS AG (FRS)?
Balance-sheet figures for FORIS AG (as of Sep 23, 2026): return on equity −0.7%. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is FRS from its 52-week high?
FORIS AG trades at €3.00, about 21% below its 52-week high of €3.80 and 1% above the low of €2.96 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €1.04 is for.
Which stocks are comparable to FORIS AG?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial Corporation, 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 FORIS AG stock attractive at the current price?
The data as of Sep 23, 2026: price €3.00, calculated fair value €1.04 (−65%), Quality Score 47/100, from 4 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 FRS calculated?
We run FORIS AG through 4 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 €1.04, 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 13.0 % above its aggregate fair value. FORIS 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 FORIS AG (FRS)?
The closing price on Sep 24, 2026 was €3.00. Our model-based fair value is €1.04, about −65% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FORIS AG right now?
The price sits above even our optimistic bull case (€1.36). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of FORIS AG (FRS) come from?
Earnings per share at FORIS AG grew +12.1 % a year from 2015 to 2025. Broken into its drivers: revenue per share +4.9 %, EBIT margin +6.0 %, tax rate +2.7 %, residual (interest, one-offs) −1.9 %. 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 FORIS AG

How large is the market capitalisation of FORIS AG (FRS)?
The market capitalisation of FORIS AG is €15.1M. 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 FORIS AG (FRS)?
The price-to-sales ratio of FORIS AG is 0.67 (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 FORIS AG (FRS)?
Earnings per share at FORIS AG are €−0.0300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of FORIS AG (FRS)?
The dividend yield of FORIS AG is 4.5%. 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 FORIS AG (FRS)?
The net margin of FORIS AG is −0.6% (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 FORIS AG (FRS)?
The return on equity (ROE) of FORIS AG is −0.7% (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 FORIS AG (FRS)?
On an EBIT basis the return on assets of FORIS AG is 3.0% (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 FORIS AG (FRS)?
The operating margin of FORIS AG is −3.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FORIS AG (FRS)?
Revenue at FORIS AG is growing −9.4% versus a year earlier (3y avg +1.1%). 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 FORIS AG (FRS)?
Earnings per share at FORIS AG are growing −43.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does FORIS AG (FRS) generate?
The free cash flow of FORIS AG is −€236K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does FORIS AG (FRS) hold?
FORIS AG holds more cash than debt, €62.0K net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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