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Henkel AG (HEN) Fair Value & Analysis

Consumer Defensive · DE · Market cap €28.7B

HA Henkel AG HEN · XETRA
Price€74.30
Fair Value€85.95
Upside+15.7%
Quality73/100
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Weak Growth
Thin margins · 9.9% net margin
Low debt · generates free cash flow
2.91% dividend yield
Mixed vs. peers (8/15)
Moderate moat 60/100
Evidence: High Range €59.59 – €115.69 Share as image

Fair value as of: Jul 19, 2026

From 24 valuation models · updated 19 days ago

Fair value updated Jul 19, 2026, revised from €99.73 to €85.95 (−13.8%) since Jul 5, 2026. Share price +4.0% over the past month.

A solid business, screening 16% undervalued on our models.

What matters now

  • A fairly wide model range (€59.59 to €115.69) leaves room in how you read the outcome.
  • Our model range runs from €59.59 (bear) to €115.69 (bull), base €85.95. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 73/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€74.50 €50.49 Fair Value €85.95 Jun 2021 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 €50.49 – €74.50 · fair‑value band €59.59 – €115.69 · the €74.30 price screens below the €85.95 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

Henkel AG (HEN) currently trades at €74.30, while our model-based Fair Value estimate is €85.95, implying the stock looks roughly 15.7% undervalued today. We read business quality at 73/100 (solid quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Henkel AG generated revenue of €20.5B at a net margin of 9.9%. Revenue declined 6.3% year over year. It earns a return on equity of 9.7%. Net debt stands at €998M. Fundamentals as of Jul 19, 2026

Our scenario range runs from €59.59 (bear case) to €115.69 (bull case); at €74.30, the current price sits within 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 near its 52-week high and 29% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -26% fair-value upside, at 16%, HEN screens cheaper 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 BearBaseBull Evidence
Highest evidence
Growth DCF €49.62 €65.39 €92.15 80
Residual Income €43.48 €48.26 €72.75 76
Rev-Margin DCF €58.06 €86.80 €121.48 74
All 24 models by family
DCF Models
FCF DCF €47.90 €64.14 €93.87 38
Owner Earnings €52.26 €70.09 €102.72 31
5Y Revenue Exit €58.06 €86.14 €126.12 39
5Y EBITDA Exit €66.46 €100.50 €144.46 41
5Y P/E Exit €59.79 €89.09 €123.07 38
10Y Revenue Exit €51.96 €75.98 €104.02 36
10Y EBITDA Exit €58.94 €85.49 €116.23 37
10Y P/E Exit €54.83 €77.94 €101.99 35
Earnings-Based
Graham-Dodd €33.39 €58.77 €72.18 54
EPV €56.61 €65.52 €73.30 59
Dividend Discount
Gordon GGM €18.83 €24.21 €29.72 70
DDM Multi-Stage €18.83 €25.59 €33.78 61
Multiples
P/E Multiple €73.66 €98.21 €122.77 63
P/S Multiple €62.61 €83.48 €104.35 58
P/B Multiple €62.61 €83.48 €104.35 55
EV/EBIT €100.77 €133.29 €165.82 53
EV/EBITDA €89.20 €117.86 €146.53 54
EV/Revenue €68.97 €97.16 €125.34 43
Asset-Based
NCAV (Graham) €24.73 €33.13 €49.45 50
Growth DCF
Growth DCF €49.62 €65.39 €92.15 80
Rev-Margin DCF €58.06 €86.80 €121.48 74
Economic Profit
Residual Income €43.48 €48.26 €72.75 76
ROIC Compounder €57.12 €67.75 €79.03 72
Growth Earnings
Growth-Adj P/E €52.11 €74.45 €96.78 68

Widest divergence: Multiples (€97.16) versus Dividend Discount (€24.21). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €20.5B
Revenue growth (YoY) -6.3%
Net margin 9.9%
Return on equity 9.7%
Free cash flow €1.8B FY2025
P/E ratio 14.4
More key figures
Operating margin 12.0%
EPS (TTM) €4.92
Dividend yield 2.9%
EPS growth (YoY) -3.3%
Net debt €998M FY2025

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

Quality Score breakdown

Overall quality 73/100

Of which business quality 67 · Market factors (momentum, volatility) 73

Profitability 47
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 78
Distance to the 52-week high (market factor)
Net Issuance 94
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

Henkel AG & Co. KGaA, together with its subsidiaries, engages in the adhesive technologies and consumer brands businesses in Europe, India, the Middle East, Africa, North America, Latin America, the Asia Pacific.

Full company description

Henkel AG & Co. KGaA, together with its subsidiaries, engages in the adhesive technologies and consumer brands businesses in Europe, India, the Middle East, Africa, North America, Latin America, the Asia Pacific. It offers adhesives, sealants, and functional coatings for various business areas, including packaging and consumer goods; mobility and electronics; and craftsmen, construction, and professional industries. The company also provides hair styling, hair colorants, and hair care products; and body care products, as well as distributes its products through brick-and-mortar stores, hair salons, and digital channels. In addition, it offers laundry and home care products, such as heavy-duty and specialty detergents, fabric softeners and laundry additives, and other fabric cleaning and fabric care products; dishwashing products; and hard surface and toilet cleaners. Further, the company provides household cleaners products. The company was founded in 1876 and is headquartered in Düsseldorf, Germany.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Henkel AG reported revenue of €20.5B in FY2025 versus €20.1B in FY2021, a compound +0.5%/yr. Reported net income was €2.0B in FY2025, compounding +5.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€20.5B
Latest YoY
−5.1%
Avg. growth/yr (3Y)
−2.9%
Avg. growth/yr (5Y)
+1.3%
Avg. growth/yr (28Y)
+2.5%
Revenue +0.5%/yr
FY21 €20.1B
FY22 €22.4B
FY23 €21.5B
FY24 €21.6B
FY25 €20.5B
Net income +5.6%/yr
FY21 €1.6B
FY22 €1.3B
FY23 €1.3B
FY24 €2.0B
FY25 €2.0B

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

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Household & Personal Products · 244 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 73 · Top 25%
Fair Value upside +16% · Above median
Return on equity (TTM) 10% · Above median
Return on assets 5% · Above median
Net margin (TTM) 10% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth -6% · Bottom 25%
Dividend yield (TTM) 2.9% · Above median
Debt / equity 0.07× · Higher than median

Valuation Multiples vs Household & Personal Products median · lower = cheaper

P/E (TTM) 14.4× · Cheaper than median
P/B 1.62× · Pricier than median
P/S (TTM) 1.62× · Pricier than median
P/FCF 18.2× · Pricier than 75% of peers
EV/EBITDA 9.8× · Pricier than median
PEG 3.53× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 54 · sector 29
FUTURE 0 · sector 4
PAST 39 · sector 27
HEALTH 97 · sector 98
DIVIDEND 58 · sector 50

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 Household & Personal Products stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
The Procter & Gamble Company PG $146.80 $108.16 -26%
Unilever PLC ULN 1,080 MXN 1,273 MXN +18%
Hindustan Unilever Limited HINDUNILVR ₹2,144 ₹1,000 -53%
Essity AB ESSITYA kr 279.00 kr 250.02 -10%
Godrej Consumer Products Limited GODREJCP ₹1,088 ₹367.64 -66%
Marico Limited MARICO ₹846.75 ₹233.05 -72%
APR Co 278470 375,000 KRW 151,222 KRW -60%
Dabur India Limited DABUR ₹429.45 ₹181.60 -58%
Kimberly-Clark de México, S. A. B. de C. V., KIMBERA 38.07 MXN 50.09 MXN +32%
PT Unilever Indonesia Tbk UNVR 1,730 IDR 1,934 IDR +12%

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Frequently asked questions

Is Henkel AG (HEN) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €85.95 versus a price of €74.30, about +16% (undervalued).
What is the fair value of HEN?
Our model-based fair value for Henkel AG is €85.95 (as of Jul 19, 2026), built from audited fundamentals. The current price is €74.30.
What is the quality score of HEN?
Henkel AG has a Quality Score of 73/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Henkel AG (HEN)?
Henkel AG reported trailing-twelve-month revenue of about €20.5B (latest available figure, as of Jul 19, 2026).
What is the net profit margin of HEN?
The net profit margin of Henkel AG is about 9.9%, meaning it keeps roughly 9.9% of revenue as net income. Based on the latest reported figures.
Does Henkel AG pay a dividend?
Henkel AG currently shows a dividend yield of about 3.30% relative to its recent price (as of Jul 19, 2026).

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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