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HETA fair value: what the stock is really worth

As of Oct 13, 2026: fair value of HETA €9.24, price €5.70, upside +62.1%, quality 70 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Basic Materials · DE · ISIN DE000A1X3WW8

H Thin data Oct 4, 2026

HETA

HETA · F

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

The stock costs 38% less than our calculation considers fair.

Fair value €9.24 · Strongly undervalued (+62.1%)
Quality 70/100
Ranks above peers (7/9)
6.0% dividend yield · Watch coverage
Weak Growth (revenue 3y −52.7 %/yr in EUR)
Negative free cash flow
Narrow moat 21/100 · thin data
Thin data
⟳ Cyclical
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

€10.11 €3.37 Fair Value €9.24 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 4, 2026.

How to read this chart

60‑month range €3.37 – €10.11 · fair‑value band €6.94 – €9.89 · the €5.70 price screens below the €9.24 fair value. Dashed = 300-day average. As of Oct 4, 2026.

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Company profile

KHD Humboldt Wedag Vermögensverwaltungs-AG, an asset-management company, engages in the management of its own assets in Germany. The company was formerly known as KHD Humboldt Wedag Industrial Services AG and changed its name to KHD Humboldt Wedag Vermögensverwaltungs-AG in July 2017. The company was incorporated in 2009 and is based in Cologne, Germany.

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KHD Humboldt Wedag Vermögensverwaltungs-AG, an asset-management company, engages in the management of its own assets in Germany. The company was formerly known as KHD Humboldt Wedag Industrial Services AG and changed its name to KHD Humboldt Wedag Vermögensverwaltungs-AG in July 2017. The company was incorporated in 2009 and is based in Cologne, Germany. KHD Humboldt Wedag Vermögensverwaltungs-AG is a subsidiary of Blake International Limited.

Stock analysis

HETA (HETA) currently trades at €5.70, while our model-based Fair Value estimate is €9.24, implying the stock looks roughly 38.3% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of €10.66 per share, and 5 of the 6 models we run sit above the €5.70 price.

Bear case: the Earnings-Based group reads lowest at €5.21, and 1 of the 6 models stay below the price. Data coverage for this calculation is low.

Scenario range: €6.94 (bear) to €9.89 (bull), the price of €5.70 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 70/100 (solid quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

HETA reported revenue of €0 in FY2025 versus €0 in FY2021. Reported net income was €266K in FY2025, compounding +2.3%/yr from FY2021.

Key figures

Market cap €2.8M · P/E ratio 7.8 · EPS (TTM) €0.7300 · Dividend yield 6.0% · Return on equity 5.6% · Return on assets (EBIT) −2.6% · Revenue (TTM) €1.4K · Revenue growth (YoY) −24.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).

What moves the price

The share trades about 30% below its 52-week high and 32% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at 24% fair-value upside, at 62%, HETA screens cheaper than that median.

Fair Value models

Bear €6.94 Fair Value €9.24 Bull €9.89
Price €5.70 · Upside +62.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€0.3077 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
Residual Income €10.13 €10.32 €10.81 65
P/E Multiple €8.00 €10.66 €13.33 63
Graham-Dodd €4.27 €5.21 €5.87 58
All 6 models by family
Earnings-Based
Graham-Dodd €4.27 €5.21 €5.87 58
Multiples
P/E Multiple €8.00 €10.66 €13.33 63
P/B Multiple €8.00 €10.66 €13.33 55
Asset-Based
NCAV (Graham) €6.66 €8.92 €13.31 51
Economic Profit
Residual Income €10.13 €10.32 €10.81 65
Growth Earnings
Growth-Adj P/E €5.70 €8.14 €10.58 58

Open the full fair value analysis →

Quality Score breakdown

Overall quality 70/100

Of which business quality 70 · Market factors (momentum, volatility) 48

Profitability 17
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Financial strength 77
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
Near the 52-week high 31
Distance to the 52-week high (market factor)
New shares 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−73.6%
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.
−52.7%
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+21.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.2%
Dividend (yield on the price)6.0%
Profit margin 2013 to 2017 ⓘ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.5% → 0%
2025 sits 192% above its own trend. The rate follows the median trend of the last 5 years, not that single year.

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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.Paper & Paper Products · 122 stocks

Beats the industry median on 7/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 70 · Top 25%
Fair Value upside +62.1% · Top 25%
Profitability
Return on equity (12 months) 5.6% · Above median
Return on assets 4.7% · Top 25%
Operating margin (12 months) 0.0% · Bottom 25%
Growth and dividend
Revenue growth −24.6% · Bottom 25%
Dividend yield (12 months) 6.0% · Top 25%

Valuation Multiplesvs Paper & Paper Products median · lower = cheaper

P/E (12 months) 7.8× · Cheapest 25%
P/B 0.56× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 22
FUTURE (revenue growth)0 · sector 21
PAST (return on equity)22 · sector 14
HEALTH (low debt)0 · sector 91
DIVIDEND (yield)100 · sector 38

Context: sector, industry, market

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 Paper & Paper Products stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Nine Dragons Paper (Holdings) Limited 2689 HK$5.22 HK$14.11 +171% vs HETA
PT Indah Kiat Pulp & Paper Tbk INKP 8,225 IDR 12,607 IDR +53% vs HETA
Empresas CMPC S.A CMPC 975.00 CLP 1,371 CLP +41% vs HETA
Semapa - Sociedade de Investimento e Gestão, SGPS, S.A SEM €18.90 €23.55 +25% vs HETA
Shandong Sunpaper Co 002078 ¥13.62 ¥16.93 +24% vs HETA
Xianhe Co 603733 ¥17.74 ¥18.80 +6% vs HETA
Lee & Man Paper Manufacturing Limited 2314 HK$3.40 HK$2.64 −22% vs HETA
The Navigator Company NVG €3.21 €2.08 −35% vs HETA
UPM-Kymmene Oyj UPM €24.47 €15.50 −37% vs HETA
Billerud AB BILL kr 81.05 kr 49.11 −39% vs HETA

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HETA · Fair Value
€9.24 +38%Fair Value
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Cite: Fair Value Calculator (2026). "HETA Fair Value". https://www.fairvalue-calculator.com/stock/HETA

Frequently asked questions

Is HETA overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of €9.24 versus a price of €5.70, about +62% upside (undervalued).
What is the fair value of HETA?
Our model-based fair value for HETA is €9.24 (as of Oct 4, 2026), built from audited fundamentals. The current price: €5.70.
What is the quality score of HETA?
HETA has a Quality Score of 70/100. 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 HETA?
Our model-based price target is the fair value of €9.24 (as of Oct 4, 2026) from 6 valuation models. Cautious scenario €6.94, optimistic scenario €9.89. It is a calculation from audited fundamentals, not an analyst target.
What is the HETA stock forecast for 2026?
Our models put fair value at €9.24, about +62% upside versus a price of €5.70 (undervalued). Cautious scenario €6.94, optimistic scenario €9.89. The calculation is refreshed regularly with new filings.
What is the revenue of HETA?
HETA reported trailing-twelve-month revenue of about €1.4K (latest available figure, as of Oct 4, 2026).
Does HETA pay a dividend?
HETA currently shows a dividend yield of about 5.96% relative to its recent price (as of Oct 4, 2026).
What is the intrinsic value of HETA?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HETA it is €9.24 per share (as of Oct 4, 2026), against a price of €5.70. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is HETA stock overvalued or undervalued in 2026?
As of Oct 4, 2026, HETA trades below its calculated fair value: price €5.70, fair value €9.24, a gap of about +62% (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 HETA?
No. The price is what the market pays today (€5.70); the fair value is what the company's own numbers justify (€9.24). For HETA the two are €3.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is HETA worth?
The market values HETA at about €2.8M (market capitalisation, as of Oct 4, 2026). Per share that is €5.70; our models calculate a fair value of €9.24 per share.
What do the bullish and bearish scenarios say about HETA?
Our models span a range for HETA: cautious scenario €6.94, base €9.24, optimistic €9.89 per share (as of Oct 4, 2026, price €5.70). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HETA?
HETA trades at a price-to-earnings ratio of 7.8 (as of Oct 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €9.24 is built from several models across several years. Other multiples: P/B 0.6.
How solid is the balance sheet of HETA?
Balance-sheet figures for HETA (as of Oct 4, 2026): return on equity 5.6%. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is HETA from its 52-week high?
HETA trades at €5.70, about 30% below its 52-week high of €8.10 and 32% above the low of €4.31 (as of Oct 13, 2026). Distance from the high says nothing about value: that is what the fair value of €9.24 is for.
Which stocks are comparable to HETA?
From the same area (Basic Materials) we also value UPM-Kymmene Oyj, Shandong Sunpaper Co, Nine Dragons Paper (Holdings) Limited, The Navigator Company, 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 HETA stock attractive at the current price?
The data as of Oct 4, 2026: price €5.70, calculated fair value €9.24 (+62%), Quality Score 70/100, from 6 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 HETA calculated?
We run HETA through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €9.24, 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 14.7 % above its aggregate fair value. HETA currently trades 38 % 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 HETA?
The closing price on Oct 13, 2026 was €5.70. Our model-based fair value is €9.24, about +62% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HETA right now?
The rarer combination: high quality (70/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (€6.94). 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.

Key figures of HETA

How large is the market capitalisation of HETA?
The market capitalisation of HETA is €2.8M. 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 are the earnings per share of HETA?
Earnings per share at HETA are €0.7300 (price ÷ EPS = P/E 7.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of HETA?
The dividend yield of HETA is 6.0% (payout 46.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the return on equity of HETA?
The return on equity (ROE) of HETA is 5.6% (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 HETA?
On an EBIT basis the return on assets of HETA 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.
How fast is revenue growing at HETA?
Revenue at HETA is growing −24.6% versus a year earlier. 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 HETA?
Earnings per share at HETA are growing +35.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does HETA generate?
The free cash flow of HETA is −€176K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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