Hoenle AG (HNL) Fair Value & Analysis
Industrials · DE · Market cap €48.6M
Fair value as of: Jul 18, 2026
From 12 valuation models · updated 23 days ago
Share price −11.0% over the past month.
A solid business, but screening 62% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (€5.39). The favourable scenario is already priced in.
- The model range is unusually wide (€0.5960 to €5.39). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range €6.64 – €52.26 · fair‑value band €0.5960 – €5.39 · the €7.90 price screens above the €2.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Hoenle AG (HNL) currently trades at €7.90, while our model-based Fair Value estimate is €2.98, implying the stock looks roughly 62.3% overvalued today. The Quality Score stands at 50/100 (solid 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: medium).
Over the trailing twelve months, Hoenle AG generated revenue of €92.3M at a net margin of -3.9%. Revenue declined 7.2% year over year. It earns a return on equity of -4.6%. Net debt stands at €40.5M. Fundamentals as of Jul 18, 2026
Our scenario range runs from €0.5960 (bear case) to €5.39 (bull case); at €7.90, the current price sits above 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 24% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -62%, HNL screens richer 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.
All 12 models by family
Widest divergence: Asset-Based (€8.50) versus Dividend Discount (€0.2000). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 32
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
Hoenle AG develops, manufactures, and distributes industrial UV technologies and systems in Germany and internationally. It operates through three segments: Adhesive Systems, Curing, and Disinfection.
Full company description
Hoenle AG develops, manufactures, and distributes industrial UV technologies and systems in Germany and internationally. It operates through three segments: Adhesive Systems, Curing, and Disinfection. The Adhesives Systems segment offers industrial adhesives, as well as supplies adhesive curing systems used for consumer electronics, automotive, optics and opto-electronics, and curing of adhesives applications. The Curing segment sells equipment for surface drying and curing paints, varnishes, and other coatings for printing, packaging printing, coating, and printing on three dimensional objects industries. The Disinfection segment is involved in activities in the areas of industrial water, surface, and air disinfection, including microbiological testing for various applications comprising disinfection in food industry, special lamps for life science, custom lamps, and microbiologic analyses. It serves aerospace, automotive, consumer electronics, environmental, food, health and medical technology, print, and semiconductor industries. The company was formerly known as Dr. Hönle AG and changed its name to Hoenle AG. The company was founded in 1976 and is headquartered in Gilching, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hoenle AG reported revenue of €93.7M in FY2025 versus €115M in FY2021, a compound −5.0%/yr. Reported net income was −€3.2M in FY2025.
HNL screens 62% overvalued. Compare with Contemporary Amperex Technology Co →
Peer Group
Electrical Equipment & Parts · 526 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.
Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper
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 0: the price sits above our fair-value range.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
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| HD Hyundai Electric Co 267260 | 823,000 KRW | 371,133 KRW | -55% |
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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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