INTERSHOP Communications Aktiengesellschaft (ISHA) Fair Value & Analysis
Technology · DE · Market cap €32.9M
Fair value as of: Jul 16, 2026
From 2 valuation models · updated 25 days ago
Fair value updated Jul 16, 2026, revised from €2.52 to €0.8100 (−67.9%) since Jun 24, 2026. Share price −15.6% over the past month.
Below-average quality, and screening another 50% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (€1.01). The favourable scenario is already priced in.
- Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.
How to read this chart
60‑month range €0.9800 – €6.40 · fair‑value band €0.6000 – €1.01 · the €1.62 price screens above the €0.8100 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.
Analysis
INTERSHOP Communications Aktiengesellschaft (ISHA) currently trades at €1.62, while our model-based Fair Value estimate is €0.8100, implying the stock looks roughly 50.0% overvalued today. The Quality Score stands at 38/100 (below-average quality), in the Technology 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).
Over the trailing twelve months, INTERSHOP Communications Aktiengesellschaft generated revenue of €32.1M at a net margin of -9.9%. Revenue declined 13.1% year over year. It earns a return on equity of -27.7%. Fundamentals as of Jul 16, 2026
Our scenario range runs from €0.6000 (bear case) to €1.01 (bull case); at €1.62, 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 12% below its 52-week high and 72% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -50%, ISHA 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 2 models by family
Widest divergence: Multiples (€1.22) versus Asset-Based (€0.4200). Highest evidence: EV/EBITDA (54).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 38 · Market factors (momentum, volatility) 60
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
INTERSHOP Communications Aktiengesellschaft offers ecommerce solutions in Germany, rest of Europe, and internationally. It operates in two segments, Software and Cloud, and Service.
Full company description
INTERSHOP Communications Aktiengesellschaft offers ecommerce solutions in Germany, rest of Europe, and internationally. It operates in two segments, Software and Cloud, and Service. The company provides Commerce Management to control sales channels and touchpoints; Search & Recommendations to create data-driven personalized user experiences with AI-powered algorithms; and Integration Hub, a low-code solution for SAP integration. It also offers Experience Management to give customers a unique experience with intershop experience management; Product Information Management; Order Management for ordering and fulfillment processes; Customer Engagement Center; and business intelligence data hub used for data management. In addition, the company offers implementation and training services. It serves manufacturing, wholesale, retail, B2C, B2X, and B2B sectors. The company was founded in 1992 and is based in Jena, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
INTERSHOP Communications Aktiengesellschaft reported revenue of €33.3M in FY2025 versus €36.0M in FY2021, a compound −1.9%/yr. Reported net income was −€3.2M in FY2025.
ISHA screens 50% overvalued. Compare with SAP SE →
Peer Group
Software - Application · 709 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 Software - Application 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.
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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAPS | C$12.69 | C$16.26 | +28% |
| Shopify Inc SHOP | C$173.23 | C$20.54 | -88% |
| Uber Technologies, Inc UBER | $72.67 | $51.11 | -30% |
| Salesforce, Inc CRM | $170.77 | $182.10 | +7% |
| ServiceNow, Inc NOW | $107.71 | $33.12 | -69% |
| Cadence Design Systems, Inc CDNS | $384.17 | $80.41 | -79% |
| Snowflake Inc SNOW | $271.87 | $34.04 | -87% |
| Adobe Inc ADBE | $230.61 | $379.48 | +65% |
| Automatic Data Processing, Inc ADP | $241.92 | $177.51 | -27% |
| Intuit Inc INTU | $291.09 | $258.69 | -11% |
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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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