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Enapter AG (H2O) Fair Value & Analysis

Industrials · DE · Market cap €46.6M

Price€1.24
Fair Value€1.03
Upside-16.9%
Quality91/100
Evidence: Low Range €0.7700 – €1.54

Fair value as of: Jun 25, 2026

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Analysis

Enapter AG (H2O) currently trades at €1.24, while our model-based Fair Value estimate is €1.03 — implying the stock looks roughly 16.9% overvalued today. We read business quality at 91/100 (high quality), in the Industrials 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).

About the company

Enapter AG designs, manufactures, and sells hydrogen generators. The company offers patented and iridium-free anion exchange membrane electrolysers; AI software; and energy management systems. Its electrolysers are used in energy storage, mobility, industry, research, and testing sectors. The company was formerly known as S&O Beteiligungen AG and changed its name to Enapter AG in November 2020. Enapter AG was founded in 1998 and is based in Hamburg, Germany.

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Frequently asked questions

Is Enapter AG (H2O) undervalued?
As of Jun 25, 2026, our model estimates a fair value of €1.03 versus a price of €1.24 — about −17% (overvalued). Model-based estimate, not financial advice.
What is the fair value of H2O?
Our 21-model fair value for Enapter AG is €1.03 (as of Jun 25, 2026), built from audited fundamentals. The current price is €1.24.
What is the quality score of H2O?
Enapter AG has a Quality Score of 91/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.