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Henkel AG & Co. KGaA vz. (Pref Shares) (HEN3) Fair Value & Analysis

Consumer Defensive · DE · Market cap €30.5B

HA Henkel AG & Co. KGaA vz. (Pref Shares) HEN3 · XETRA
Price€75.74
Fair Value€85.95
Upside+13.5%
Quality69/100
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Strengths

Trades 12% below our fair value of €85.95
Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y +1.3 %/yr)
!Thin margins · 9.9% net margin
!Mixed vs. peers (8/15)
!Moderate moat 53/100
Weak Growth (revenue 5y +1.3 %/yr)
Thin margins · 9.9% net margin
Low debt · generates free cash flow
2.76% dividend yield
Mixed vs. peers (8/15)
Moderate moat 53/100
Evidence: High Range €59.59 – €115.69 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 12 days ago

Share price +1.4% over the past month.

A solid business, trading 12% below our fair value.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

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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 69/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€81.93 €51.36 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 Aug 13, 2026.

How to read this chart

60‑month range €51.36 – €81.93 · fair‑value band €59.59 – €115.69 · the €75.74 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 Aug 13, 2026.

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Analysis

Henkel AG & Co. KGaA vz. (Pref Shares) (HEN3) currently trades at €75.74, while our model-based Fair Value estimate is €85.95, implying the stock looks roughly 13.5% undervalued today. The Quality Score stands at 69/100 (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 & Co. KGaA vz. (Pref Shares) 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 Aug 13, 2026

Our scenario range runs from €59.59 (bear case) to €115.69 (bull case); at €75.74, 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 about 7% below its 52-week high and 24% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -36% fair-value upside, at 13%, HEN3 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 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
Growth DCF €49.62 €65.39 €92.15 80
Residual Income €43.48 €48.26 €72.75 76
Rev-Margin DCF €50.04 €73.15 €101.21 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 €50.04 €72.42 €104.28 39
5Y EBITDA Exit €66.46 €100.50 €144.46 41
5Y P/E Exit €61.78 €92.50 €128.11 38
10Y Revenue Exit €47.41 €66.90 €89.49 36
10Y EBITDA Exit €58.94 €85.49 €116.23 37
10Y P/E Exit €56.06 €80.20 €105.34 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 €77.34 €103.12 €128.90 63
P/S Multiple €59.35 €79.13 €98.91 58
P/B Multiple €62.61 €83.48 €104.35 55
EV/EBIT €95.35 €126.07 €156.78 53
EV/EBITDA €89.20 €117.86 €146.53 54
EV/Revenue €55.13 €77.39 €99.64 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 €50.04 €73.15 €101.21 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 €54.61 €78.02 €101.43 68

Widest divergence: Multiples (€83.48) versus Dividend Discount (€24.21). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/E ratio 13.6 as of May 31, 2026
P/S ratio 1.32 TTM
Dividend yield 3.1% payout 47.4%
Net margin 9.9% TTM
Return on equity 9.7% TTM
Return on assets 5.1% TTM
More key figures
Profitability
Operating margin 12.0% TTM
EPS (TTM) €4.92
Growth
Revenue (TTM) €20.5B TTM
Revenue growth (YoY) -6.3% 3y avg -2.9%
EPS growth (YoY) -3.3%
Balance sheet & cash flow
Free cash flow €1.8B FY2025
Net debt €998M FY2025 · ≈ 0.5 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 67 · Market factors (momentum, volatility) 62

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 92
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 56
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

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 & Co. KGaA vz. (Pref Shares) 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. revenue 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.
−2.9%
Avg. revenue 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.
+1.3%
Avg. revenue growth/yr (28Y) 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.
+2.5%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+8.6% (5.5 + 3.1)
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
Character of growth · EPS growth decomposed (2014-2025) −0.1 % p.a.
Revenue per share +2.4 pp

of which total revenue +2.0 pp · buybacks/dilution +0.4 pp

EBIT margin −2.6 pp
Tax rate −0.3 pp
Residual (interest, one-offs) +0.4 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).

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Cite: Fair Value Calculator (2026). "Henkel AG & Co. KGaA vz. (Pref Shares) Fair Value". https://www.fairvalue-calculator.com/stock/HEN3

Earlier news

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

Peer Group

Household & Personal Products · 251 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 69 · Top 25%
Fair Value upside +22% · 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) 2.7% · Above median
Debt / equity 0.07× · Higher than median

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

P/E (TTM) 13.6× · Cheaper than median
P/B 1.74× · Pricier than median
P/S (TTM) 1.74× · Pricier than median
P/FCF 19.5× · Pricier than 75% of peers
EV/EBITDA 10.6× · Pricier than median
PEG 3.68× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE63 · sector 25
FUTURE0 · sector 4
PAST39 · sector 27
HEALTH97 · sector 98
DIVIDEND55 · sector 52

Insider activity: 40/100

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 Household & Personal Products stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Unilever PLC UNA €54.17 €40.47 -25%
Colgate-Palmolive Company CL $92.32 $55.28 -40%
500696 500696 ₹2,093 ₹641.55 -69%
Hindustan Unilever Limited HINDUNILVR ₹2,015 ₹789.46 -61%
Kenvue Inc KVUE $18.98 $10.97 -42%
Kimberly-Clark Corporation KMB $108.93 $79.71 -27%
Henkel AG HEN €72.10 €85.95 +19%
The Estée Lauder Companies Inc ESLA €86.54 €18.84 -78%
Church & Dwight Co CHD $102.53 $65.12 -36%
Beiersdorf Aktiengesellschaft, BEI €78.84 €68.36 -13%

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Frequently asked questions

Is Henkel AG & Co. KGaA vz. (Pref Shares) (HEN3) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €85.95 versus a price of €75.74, about +13% (undervalued).
What is the fair value of HEN3?
Our model-based fair value for Henkel AG & Co. KGaA vz. (Pref Shares) is €85.95 (as of Aug 13, 2026), built from audited fundamentals. The current price: €75.74.
What is the quality score of HEN3?
Henkel AG & Co. KGaA vz. (Pref Shares) has a Quality Score of 69/100. 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 Henkel AG & Co. KGaA vz. (Pref Shares) (HEN3)?
Henkel AG & Co. KGaA vz. (Pref Shares) reported trailing-twelve-month revenue of about €20.5B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of HEN3?
The net profit margin of Henkel AG & Co. KGaA vz. (Pref Shares) is about 9.9%, meaning it keeps roughly 9.9% of revenue as net income. Based on the latest reported figures.
Does Henkel AG & Co. KGaA vz. (Pref Shares) pay a dividend?
Henkel AG & Co. KGaA vz. (Pref Shares) currently shows a dividend yield of about 3.08% relative to its recent price (as of Aug 13, 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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