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FORIS AG (FRS) Fair Value & Analysis

Financial Services · DE · Market cap €15.1M

FA FORIS AG FRS · XETRA
Price€2.98
Fair Value€0.8400
Upside-71.8%
Quality47/100
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Expensive Growth
Loss-making · -0.6% net margin
negative free cash flow
Trails peers (1/10)
Narrow moat 17/100
Evidence: Low Range €0.6900 – €1.07 Share as image

Fair value as of: Jul 19, 2026

From 4 valuation models · updated 22 days ago

Share price −13.4% over the past month.

Below-average quality, and screening another 72% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€1.07). 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.
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Price vs Fair Value (5 years)

€4.32 €1.24 Fair Value €0.8400 Jul 2016 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range €1.24 – €4.32 · fair‑value band €0.6900 – €1.07 · the €2.98 price screens above the €0.8400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

FORIS AG (FRS) currently trades at €2.98, while our model-based Fair Value estimate is €0.8400, implying the stock looks roughly 71.8% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, FORIS AG generated revenue of €22.6M at a net margin of -0.6%. Revenue declined 9.4% year over year. It earns a return on equity of -0.7%. Fundamentals as of Jul 19, 2026

Our scenario range runs from €0.6900 (bear case) to €1.07 (bull case); at €2.98, the current price sits above 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 32% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -41% fair-value upside, at -72%, FRS screens richer 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
Gordon GGM €1.04 €1.40 €1.71 70
DDM Multi-Stage €1.04 €1.36 €1.66 61
NCAV (Graham) €1.88 €2.51 €3.75 50
All 4 models by family
DCF Models
Owner Earnings €0.4800 €0.5100 €0.5500 31
Dividend Discount
Gordon GGM €1.04 €1.40 €1.71 70
DDM Multi-Stage €1.04 €1.36 €1.66 61
Asset-Based
NCAV (Graham) €1.88 €2.51 €3.75 50

Widest divergence: Asset-Based (€2.51) versus DCF Models (€0.5100). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) €22.6M
Revenue growth (YoY) -9.4%
Net margin -0.6%
Return on equity -0.7%
Free cash flow −€236K FY2025
Operating margin -3.2%
More key figures
EPS (TTM) €-0.0300
EPS growth (YoY) -43.7%
Net cash €62.0K FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 48 · Market factors (momentum, volatility) 42

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 73
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 86
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 19/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€22.6M
Latest YoY
−23.9%
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.
+1.1%
Avg. growth/yr (5Y) 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.
+5.9%
Avg. growth/yr (18Y) 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.
−1.4%
Revenue +2.2%/yr
FY21 €20.8M
FY22 €21.9M
FY23 €23.1M
FY24 €29.8M
FY25 €22.6M
Net income
FY21 −€1.8M
FY22 €152K
FY23 €1.1M
FY24 €2.9M
FY25 −€131K
Character of growth · EPS growth decomposed (2015-2025) +12.1 % p.a.
Revenue per share +4.9 pp

of which total revenue +4.1 pp · buybacks/dilution +0.8 pp

EBIT margin +6.0 pp
Tax rate +2.7 pp
Residual (interest, one-offs) −1.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

FRS screens 72% overvalued. Compare with Visa Inc →

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

Peer Group

Credit Services · 331 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 46 · Below median
Fair Value upside −72% · Bottom 25%
Return on assets -3% · Bottom 25%
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) -3% · Bottom 25%
Revenue growth -9% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Credit Services median · lower = cheaper

P/B 1.02× · Pricier than median
P/S (TTM) 0.77× · Cheaper than 75% of peers

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 Credit Services stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Visa Inc V $348.97 $204.19 -41%
Mastercard Incorporated MA $537.70 $221.87 -59%
American Express Company AXP $358.44 $206.40 -42%
Bajaj Finance Limited BAJFINANCE ₹1,056 ₹397.61 -62%
Shriram Finance Limited SHRIRAMFIN ₹1,024 ₹553.83 -46%
Cholamandalam Investment and Finance Company CHOLAFIN ₹1,808 ₹796.52 -56%
Tata Capital Limited TATACAP ₹360.60 ₹229.85 -36%
Power Finance Corporation PFC ₹405.10 ₹810.20 +100%
Muthoot Finance Limited MUTHOOTFIN ₹3,129 ₹3,463 +11%
Indian Railway Finance Corporation IRFC ₹88.41 ₹69.72 -21%

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Frequently asked questions

Is FORIS AG (FRS) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €0.8400 versus a price of €2.98, about −72% (overvalued).
What is the fair value of FRS?
Our model-based fair value for FORIS AG is €0.8400 (as of Jul 19, 2026), built from audited fundamentals. The current price is €2.98.
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 revenue of FORIS AG (FRS)?
FORIS AG reported trailing-twelve-month revenue of about €22.6M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of FRS?
The net profit margin of FORIS AG is about -0.6%, 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.

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