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Jungheinrich Aktiengesellschaft, through its subsidiaries, (JUN3) Fair Value & Analysis

Industrials · DE · Market cap €2.5B

JA Jungheinrich Aktiengesellschaft, through its subsidiaries, JUN3 · XETRA
Price€24.88
Fair Value€21.33
Upside-14.3%
Quality50/100
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Healthy Growth
Thin margins · 1.1% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/15)
Narrow moat 33/100
Evidence: High Range €16.00 – €26.66 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated yesterday

Share price +1.3% over the past month.

A solid business, but screening 14% overvalued on our models.

What matters now

  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from €16.00 (bear) to €26.66 (bull), base €21.33. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 50/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€42.24 €18.69 Fair Value €21.33 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 €18.69 – €42.24 · fair‑value band €16.00 – €26.66 · the €24.88 price screens above the €21.33 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Jungheinrich Aktiengesellschaft, through its subsidiaries, (JUN3) currently trades at €24.88, while our model-based Fair Value estimate is €21.33, implying the stock looks roughly 14.3% 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: high).

Over the trailing twelve months, Jungheinrich Aktiengesellschaft, through its subsidiaries, generated revenue of €5.5B at a net margin of 1.1%. Revenue declined 2.5% year over year. It earns a return on equity of 4.2%. Net debt stands at €34.7M. Fundamentals as of Aug 13, 2026

Our scenario range runs from €16.00 (bear case) to €26.66 (bull case); at €24.88, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 41% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -46% fair-value upside, at -14%, JUN3 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 €41.04 €59.18 €84.51 80
Residual Income €17.96 €18.03 €16.45 76
Rev-Margin DCF €36.34 €55.83 €78.73 74
All 26 models by family
DCF Models
FCF DCF €40.66 €61.58 €92.90 38
Owner Earnings €50.67 €77.20 €116.92 31
5Y Revenue Exit €36.34 €55.77 €80.63 39
5Y EBITDA Exit €62.66 €105.78 €156.95 41
5Y P/E Exit €25.87 €35.86 €46.19 38
10Y Revenue Exit €36.62 €54.62 €79.01 36
10Y EBITDA Exit €54.08 €88.85 €136.80 37
10Y P/E Exit €31.00 €40.99 €52.93 35
Earnings-Based
Graham-Dodd €6.91 €23.20 €31.08 54
Lynch FV €5.28 €7.55 €9.81 50
PEG = 1.0 €5.28 €7.55 €9.81 46
EPV €27.01 €30.75 €33.97 59
Dividend Discount
Gordon GGM €6.93 €13.81 €20.91 70
DDM Multi-Stage €6.93 €11.66 €14.58 61
Multiples
P/E Multiple €16.00 €21.33 €26.66 63
P/S Multiple €12.95 €17.27 €21.58 58
P/B Multiple €12.95 €17.27 €21.58 55
EV/EBIT €48.14 €63.06 €77.99 53
EV/EBITDA €83.43 €110.11 €136.80 54
EV/Revenue €35.32 €49.01 €62.71 43
Asset-Based
NCAV (Graham) €12.04 €16.13 €24.07 50
Growth DCF
Growth DCF €41.04 €59.18 €84.51 80
Rev-Margin DCF €36.34 €55.83 €78.73 74
Economic Profit
Residual Income €17.96 €18.03 €16.45 76
ROIC Compounder €27.80 €34.23 €42.27 72
Growth Earnings
Growth-Adj P/E €13.59 €19.41 €25.24 68

Widest divergence: Growth DCF (€55.83) versus Earnings-Based (€7.55). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €5.5B
Revenue growth (YoY) -2.5%
Net margin 1.1%
Return on equity 4.2%
Free cash flow €346M FY2025
P/E ratio 9.0 as of May 31, 2026
More key figures
Operating margin 4.4%
EPS (TTM) €2.78
EPS growth (YoY) -60.5%
Net debt €34.7M FY2025

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

Quality Score breakdown

Overall quality 50/100

Of which business quality 51 · Market factors (momentum, volatility) 21

Profitability 31
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 29
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 82
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

Jungheinrich Aktiengesellschaft, through its subsidiaries, provides products and solutions for the intralogistics sector with a portfolio of material handling equipment, automated systems, and warehouse equipment and services worldwide. It operates in two segments, Intralogistics and Financial Services.

Full company description

Jungheinrich Aktiengesellschaft, through its subsidiaries, provides products and solutions for the intralogistics sector with a portfolio of material handling equipment, automated systems, and warehouse equipment and services worldwide. It operates in two segments, Intralogistics and Financial Services. The Intralogistics segment engages in the development, production, sale, and short-term rental of new material handling equipment and warehousing equipment products, including automation; sale and short-term leasing of used trucks; and provision of spare parts, as well as maintenance and repair services. The Financial Services segment is involved in sales financing and usage transfer of material handling and warehousing equipment. Its products include electric and hand pallet trucks, and electric pallet stackers; order pickers; reach trucks; very narrow aisle trucks and EKX cold store high rack stackers; electric forklifts; and tow tractors, tugger train trailers, shuttles, used forklift trucks, and assistance systems. The company also offers rental fleet, and battery and charger rental solutions; contract and event hire services; full flex rental services; automated guided vehicles, conveyor technology, and stacker cranes; lithium-ion and lead-acid batteries; charging technology; powertrain solutions; electric drives/drivetrains; controllers; electromechanics components, control pedals, and displays; electric mounting panels; and cable sets. In addition, it provides warehouse racking and storage services; digital products and software solutions, including warehouse, fleet, and interface management systems; energy solutions; PowerCube; mobile robots; forklift trucks; explosion proof forklifts; and industrial IT solutions, such as WiFi-infrastructure, barcode-scanner, and mobile workstation, as well as develops software. It distributes its products through its direct sales and service network. The company was founded in 1953 and is headquartered in Hamburg, Germany.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jungheinrich Aktiengesellschaft, through its subsidiaries, reported revenue of €5.5B in FY2025 versus €4.2B in FY2021, a compound +6.7%/yr. Reported net income was €104M in FY2025, compounding −21.0%/yr from FY2021.

Growth Quality 70/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€5.5B
Latest YoY
+2.0%
Avg. 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.
+4.9%
Avg. 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.
+7.6%
Avg. growth/yr (23Y) 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.
+5.9%
Revenue +6.7%/yr
FY21 €4.2B
FY22 €4.8B
FY23 €5.5B
FY24 €5.4B
FY25 €5.5B
Net income −21.0%/yr
FY21 €266M
FY22 €269M
FY23 €299M
FY24 €289M
FY25 €104M
Character of growth · EPS growth decomposed (2014-2025) +5.8 % p.a.
Revenue per share +7.8 pp

of which total revenue +7.8 pp · buybacks/dilution +0.0 pp

EBIT margin −0.2 pp
Tax rate −0.3 pp
Residual (interest, one-offs) −1.6 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).

JUN3 screens 14% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Jungheinrich Aktiengesellschaft, through its subsidiaries, Fair Value". https://www.fairvalue-calculator.com/stock/JUN3

Peer Group

Specialty Industrial Machinery · 807 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 50 · Below median
Fair Value upside −14% · Above median
Return on equity (TTM) 4% · Below median
Return on assets 3% · Above median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth -3% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 9.0× · Cheaper than 75% of peers
P/B 1.19× · Cheaper than median
P/S (TTM) 0.53× · Cheaper than 75% of peers
P/FCF 8.5× · Pricier than median
EV/EBITDA 6.8× · Cheaper than 75% of peers
PEG 2.77× · Pricier than median

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 14 · sector 0
FUTURE 0 · sector 22
PAST 17 · sector 28
HEALTH 94 · sector 96
DIVIDEND 0 · sector 24

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €899.80 €186.93 -79%
1SIE 1SIE €281.75 €91.93 -67%
SMNS SMNS C$31.76 C$22.75 -28%
Atlas Copco AB ATCOA kr 210.00 kr 112.59 -46%
Sandvik AB SAND kr 358.60 kr 193.01 -46%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥39.17 ¥22.68 -42%
NARI Technology Co 600406 ¥24.06 ¥18.71 -22%
ABB India Limited ABB ₹7,700 ₹1,322 -83%
Cummins India Limited CUMMINSIND ₹5,315 ₹1,355 -75%
Bharat Heavy Electricals Limited BHEL ₹420.00 ₹96.51 -77%

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Frequently asked questions

Is Jungheinrich Aktiengesellschaft, through its subsidiaries, (JUN3) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €21.33 versus a price of €24.88, about −14% (overvalued).
What is the fair value of JUN3?
Our model-based fair value for Jungheinrich Aktiengesellschaft, through its subsidiaries, is €21.33 (as of Aug 13, 2026), built from audited fundamentals. The current price is €24.88.
What is the quality score of JUN3?
Jungheinrich Aktiengesellschaft, through its subsidiaries, has a Quality Score of 50/100. 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 Jungheinrich Aktiengesellschaft, through its subsidiaries, (JUN3)?
Jungheinrich Aktiengesellschaft, through its subsidiaries, reported trailing-twelve-month revenue of about €5.5B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of JUN3?
The net profit margin of Jungheinrich Aktiengesellschaft, through its subsidiaries, is about 1.1%, meaning it keeps roughly 1.1% of revenue as net income. Based on the latest reported figures.

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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