Grammer AG (GMM) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Grammer AG stock €22.44, price €8.80, upside +155.0%, quality 41 out of 100. Rating: strongly undervalued. Calculated from audited financials with 23 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range €4.78 – €27.80 · fair‑value band €16.24 – €31.29 · the €8.80 price screens below the €22.44 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. As of Nov 7, 2026.
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Grammer AG engages in the development, production, and sale of components and systems for car interiors worldwide. The company offers headrests, armrests, center console systems, and interior components to automotive OEMs and their system suppliers.
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It also provides driver and passenger seats for trucks; driver seats for offroad vehicles, such as tractors, construction machinery, and forklifts; and seats and seating systems for trains and buses to commercial vehicle OEMs, bus and rolling stock OEMs, and railway operators.
The company was founded in 1880 and is headquartered in Ursensollen, Germany. Grammer AG operates as a subsidiary of Ningbo Jifeng Auto Parts Co., Ltd.
Stock analysis
Grammer AG (GMM) currently trades at €8.80, while our model-based Fair Value estimate is €22.44, implying the stock looks roughly 61% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €45.91 per share, and 18 of the 23 models we run sit above the €8.80 price.
Bear case: the Earnings-Based group reads lowest at €5.76, and 5 of the 23 models stay below the price. Data coverage for this calculation is low.
Scenario range: €16.24 (bear) to €31.29 (bull), the price of €8.80 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 41/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Grammer AG reported revenue of €1.8B in FY2025 versus €1.9B in FY2021, a compound −1.1%/yr. Reported net income was €23.5M in FY2025, compounding +88.7%/yr from FY2021.
Key figures
Market cap €149M Micro · P/E ratio 4.2 · P/S ratio 0.09 · EPS (TTM) €2.12 · Net margin 1.9% · Return on equity 12.2% · Return on assets (EBIT) 2.6% (5-year average) · Operating margin 5.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 35 out of 100 (low confidence).
What moves the price
The share trades about 46% below its 52-week high and 63% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −23% fair-value upside, at 155%, GMM screens cheaper than that median.
Fair Value models
Bear€16.24Fair Value €22.44Bull€31.29
Price €8.80 · Upside +155.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€1.82 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
Best data coverage
FCF DCF€36.76€52.67€71.3481
Growth DCF€37.49€51.95€68.2179
Owner Earnings€42.38€60.02€80.7277
All 23 models by family
DCF Models
FCF DCF€36.76€52.67€71.3481
Owner Earnings€42.38€60.02€80.7277
5Y Revenue Exit€21.97€34.67€49.7072
5Y EBITDA Exit€43.29€72.32€104.4074
5Y P/E Exit€20.47€32.02€43.1471
10Y Revenue Exit€27.56€39.14€52.5167
10Y EBITDA Exit€39.82€61.38€87.2268
10Y P/E Exit€27.34€37.58€48.3565
Earnings-Based
Graham-Dodd€10.71€24.36€31.2065
PEG = 1.0€4.03€5.76€7.4957
EPV€2.75€4.97€6.7971
Multiples
P/E Multiple€25.98€34.64€43.3063
P/S Multiple€20.08€26.77€33.4658
P/B Multiple€3.73€4.97€6.2155
EV/EBIT€11.87€25.28€38.6962
EV/EBITDA€44.43€68.69€92.9566
EV/Revenuen/a€10.38€22.0050
Asset-Based
NCAV (Graham)€0.6200€0.8300€1.2454
Growth DCF
Growth DCF€37.49€51.95€68.2179
Rev-Margin DCF€21.97€35.70€50.6672
Economic Profit
Residual Income€10.56€11.84€14.4971
ROIC Compounder€2.75€4.97€6.7970
Growth Earnings
Growth-Adj P/E€19.43€27.75€36.0867
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.40/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−5.2%
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.
−5.5%
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.
+1.3%
Start year 2020 (pandemic). Over 10 years: +2.5% a year
Revenue growth 23 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.
+3.7%
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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.
−2.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.7%
Dividend (yield on the price)0.0%
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.−2.7% vs −6.3%, picking up
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.−3% → 2%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less 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).
−5.6%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −7.6% a year for the price.
Price, fair value, quality and upside side by side.
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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.Auto Parts · 655 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score41 · Bottom 25%
Fair Value upside+155.0% · Top 25%
Profitability
Return on equity (12 months)12.2% · Above median
Return on assets1.5% · Below median
Net margin (12 months)1.9% · Below median
Operating margin (12 months)5.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)7.1% · Above median
Balance sheet
Debt / equity2.11× · Highest 25%
Valuation Multiplesvs Auto Parts median · lower = cheaper
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). "Grammer AG Fair Value". https://www.fairvalue-calculator.com/stock/GMM
Frequently asked questions
Is Grammer AG (GMM) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €22.44 versus a price of €8.80, about +155% upside (undervalued).
What is the fair value of GMM?
Our model-based fair value for Grammer AG is €22.44 (as of Nov 7, 2026), built from audited fundamentals. The current price: €8.80.
What is the quality score of GMM?
Grammer AG has a Quality Score of 41/100. 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 Grammer AG (GMM)?
Our model-based price target is the fair value of €22.44 (as of Nov 7, 2026) from 23 valuation models. Cautious scenario €16.24, optimistic scenario €31.29. It is a calculation from audited fundamentals, not an analyst target.
What is the Grammer AG stock forecast for 2026?
Our models put fair value at €22.44, about +155% upside versus a price of €8.80 (undervalued). Cautious scenario €16.24, optimistic scenario €31.29. The calculation is refreshed regularly with new filings.
What is the revenue of Grammer AG (GMM)?
Grammer AG reported trailing-twelve-month revenue of about €1.8B (latest available figure, as of Nov 7, 2026).
What growth is priced into Grammer AG (GMM)?
For today's price to be fair in a discounted-cash-flow model, Grammer AG would have to grow free cash flow by -5.6 % per year for five years (discount rate 11.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.3 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of GMM use?
Our models discount Grammer AG at 11.9 %: a base by market capitalisation (micro), damped by beta 0.82, country premium for Germany. 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 Grammer AG that is -5.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.9 %) and the same formula as our fair value.
How much growth has Grammer AG (GMM) delivered so far?
Over the past 5 years revenue at Grammer AG grew +1.3 % a year. The price currently implies free-cash-flow growth of -5.6 % per 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 Grammer AG (GMM) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Grammer AG (-5.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Grammer AG (GMM)?
The free-cash-flow yield on the price is 40.49 %: that much free cash flow Grammer AG produces per unit of market value. When it exceeds the discount rate of our models (11.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Grammer AG (GMM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Grammer AG it is €22.44 per share (as of Nov 7, 2026), against a price of €8.80. It is the blended result of 23 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Grammer AG stock overvalued or undervalued in 2026?
As of Nov 7, 2026, GMM trades below its calculated fair value: price €8.80, fair value €22.44, a gap of about +155% (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 GMM?
No. The price is what the market pays today (€8.80); the fair value is what the company's own numbers justify (€22.44). For Grammer AG the two are €13.64 per share apart. That gap is exactly why we show both numbers side by side.
How much is Grammer AG worth?
The market values Grammer AG at about €149M (market capitalisation, as of Nov 7, 2026). Per share that is €8.80; our models calculate a fair value of €22.44 per share.
What do the bullish and bearish scenarios say about GMM?
Our models span a range for Grammer AG: cautious scenario €16.24, base €22.44, optimistic €31.29 per share (as of Nov 7, 2026, price €8.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GMM?
Grammer AG trades at a price-to-earnings ratio of 4.2 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €22.44 is built from several models across several years. Other multiples: PEG 1.8, P/B 0.9, P/S 0.1, EV/EBITDA 2.7.
What is the PEG ratio of GMM?
The PEG ratio of Grammer AG is 1.78 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Grammer AG (GMM)?
Balance-sheet figures for Grammer AG (as of Nov 7, 2026): return on equity 12.2%, debt of 2.11 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is GMM from its 52-week high?
Grammer AG trades at €8.80, about 46% below its 52-week high of €16.30 and 63% above the low of €5.40 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €22.44 is for.
Which stocks are comparable to Grammer AG?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 Grammer AG stock attractive at the current price?
The data as of Nov 7, 2026: price €8.80, calculated fair value €22.44 (+155%), Quality Score 41/100, from 23 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 GMM calculated?
We run Grammer AG through 23 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €22.44 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Grammer AG currently trades 61% 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 Grammer AG (GMM)?
The closing price on Nov 6, 2026 was €8.80. Our model-based fair value is €22.44, about +155% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Grammer AG right now?
The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (€16.24). 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 (€16.24 to €31.29) leaves room in how you read the outcome.
Where does the earnings growth of Grammer AG (GMM) come from?
Earnings per share at Grammer AG grew −13.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.0 %, EBIT margin +1.2 %, tax rate −3.9 %, residual (interest, one-offs) −10.7 %. 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 Grammer AG
How large is the market capitalisation of Grammer AG (GMM)?
The market capitalisation of Grammer AG is €149M. 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 Grammer AG (GMM)?
The price-to-sales ratio of Grammer AG is 0.09 (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 Grammer AG (GMM)?
Earnings per share at Grammer AG are €2.12 (price ÷ EPS = P/E 4.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Grammer AG (GMM)?
The net margin of Grammer AG is 1.9% (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 Grammer AG (GMM)?
The return on equity (ROE) of Grammer AG is 12.2% (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 Grammer AG (GMM)?
On an EBIT basis the return on assets of Grammer 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 Grammer AG (GMM)?
The operating margin of Grammer AG is 5.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Grammer AG (GMM)?
Revenue at Grammer AG is growing +7.1% versus a year earlier (3y avg −5.5%). 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 Grammer AG (GMM)?
Earnings per share at Grammer AG are growing +369% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Grammer AG (GMM) carry?
The net debt of Grammer AG is €423M (fiscal year 2025, ≈ 7.0 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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Thin data
Nov 7, 2026