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Knaus Tabbert AG (KTA) Fair Value & Analysis

Consumer Cyclical · DE · Market cap €140M

KT Knaus Tabbert AG KTA · XETRA
Price€12.32
Fair Value€26.32
Upside+113.6%
Quality52/100
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Mixed Growth
Loss-making · -3.0% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (5/12)
Narrow moat 19/100
Evidence: Medium Range €9.28 – €43.36 Share as image

Fair value as of: Jul 14, 2026

From 12 valuation models · updated 27 days ago

Share price −8.7% over the past month.

A solid business, screening 114% undervalued on our models.

What matters now

  • The model range is unusually wide (€9.28 to €43.36). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

€60.19 €10.72 Fair Value €26.32 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range €10.72 – €60.19 · fair‑value band €9.28 – €43.36 · the €12.32 price screens below the €26.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Knaus Tabbert AG (KTA) currently trades at €12.32, while our model-based Fair Value estimate is €26.32, implying the stock looks roughly 113.6% undervalued today. The Quality Score stands at 52/100 (solid quality), in the Consumer Cyclical 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: medium), always confirm before acting.

Over the trailing twelve months, Knaus Tabbert AG generated revenue of €959M at a net margin of -3.0%. Revenue declined 15.4% year over year. It earns a return on equity of -30.0%. Net debt stands at €316M. Fundamentals as of Jul 14, 2026

Our scenario range runs from €9.28 (bear case) to €43.36 (bull case); at €12.32, 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 39% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 6% fair-value upside, at 114%, KTA 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 €28.75 €40.72 €54.71 80
Rev-Margin DCF €29.42 €49.60 €72.72 74
Gordon GGM €20.20 €33.83 €43.91 70
All 12 models by family
DCF Models
FCF DCF €28.67 €42.52 €59.72 38
5Y Revenue Exit €29.42 €49.36 €74.45 39
5Y EBITDA Exit €16.49 €25.29 €35.01 41
10Y Revenue Exit €27.73 €44.02 €65.29 36
10Y EBITDA Exit €21.57 €29.78 €39.69 37
Dividend Discount
Gordon GGM €20.20 €33.83 €43.91 70
DDM Multi-Stage €20.20 €30.14 €36.40 61
Multiples
EV/EBITDA €9.00 €14.49 €19.99 54
EV/Revenue €32.29 €49.34 €66.38 43
Asset-Based
NCAV (Graham) €3.71 €4.97 €7.42 50
Growth DCF
Growth DCF €28.75 €40.72 €54.71 80
Rev-Margin DCF €29.42 €49.60 €72.72 74

Widest divergence: DCF Models (€42.52) versus Asset-Based (€4.97). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €961M
Revenue growth (YoY) -15.6%
Net margin -3.0%
Return on equity -30.0%
Free cash flow €45.4M FY2025
Operating margin 3.3%
More key figures
EPS (TTM) €-2.75
EPS growth (YoY) -42.8%
Net debt €316M FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 50 · Market factors (momentum, volatility) 33

Profitability 38
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 16
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 32
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 21
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

Knaus Tabbert AG, together with its subsidiaries, manufactures and sells recreational vehicles in Germany, Europe, and internationally. It operates through two segments: Premium and Luxury. The company offers motorhomes, caravans, camper vans, and CUV under the KNAUS, TABBERT, WEINSBERG, T@B, and MORELO brand names.

Full company description

Knaus Tabbert AG, together with its subsidiaries, manufactures and sells recreational vehicles in Germany, Europe, and internationally. It operates through two segments: Premium and Luxury. The company offers motorhomes, caravans, camper vans, and CUV under the KNAUS, TABBERT, WEINSBERG, T@B, and MORELO brand names. It also operates RENT AND TRAVEL, a digital rental brand that enables users and newcomers to rent and test recreational vehicles. Knaus Tabbert AG was founded in 1912 and is headquartered in Jandelsbrunn, Germany.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Knaus Tabbert AG reported revenue of €1.0B in FY2025 versus €863M in FY2021, a compound +3.8%/yr. Reported net income was −€36.9M in FY2025.

Growth Quality 34/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€1.0B
Latest YoY
−7.4%
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.
−1.5%
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.
+4.8%
Avg. growth/yr (10Y) 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.
+9.9%
Revenue +3.8%/yr
FY21 €863M
FY22 €1.0B
FY23 €1.4B
FY24 €1.1B
FY25 €1.0B
Net income
FY21 €25.9M
FY22 €29.6M
FY23 €60.3M
FY24 −€48.0M
FY25 −€36.9M

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Cite: Fair Value Calculator (2026). "Knaus Tabbert AG Fair Value". https://www.fairvalue-calculator.com/stock/KTA

Peer Group

Recreational Vehicles · 37 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 52 · Above median
Fair Value upside +114% · Top 25%
Return on assets -1% · Below median
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) 3% · Above median
Revenue growth -16% · Bottom 25%
Debt / equity 1.05× · Higher than 75% of peers

Valuation Multiples vs Recreational Vehicles median · lower = cheaper

P/B 2.10× · Pricier than median
P/S (TTM) 0.17× · Cheaper than 75% of peers
P/FCF 3.6× · Cheaper than 75% of peers
EV/EBITDA 15.0× · 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.

VALUE 100 · sector 33
FUTURE 0 · sector 15
PAST 0 · sector 18
HEALTH 48 · sector 88
DIVIDEND 0 · sector 57

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 Recreational Vehicles stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Zhejiang Cfmoto Power Co 603129 ¥293.01 ¥199.10 -32%
Brunswick Corporation BC $80.45 $16.76 -79%
BRP Inc DOO C$85.96 C$86.81 +1%
Polaris Inc PII $67.40 $29.83 -56%
THOR Industries, Inc THO $72.86 $97.14 +33%
Trigano S.A TRI €149.60 €273.48 +83%
Patrick Industries, Inc PATK $82.70 $85.54 +3%
Harley-Davidson, Inc HOG $26.81 $64.09 +139%
LCI Industries, LCII $108.17 $156.35 +45%
Sanlorenzo S.p.A SL €38.30 €40.65 +6%

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Frequently asked questions

Is Knaus Tabbert AG (KTA) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of €26.32 versus a price of €12.32, about +114% (undervalued).
What is the fair value of KTA?
Our model-based fair value for Knaus Tabbert AG is €26.32 (as of Jul 14, 2026), built from audited fundamentals. The current price is €12.32.
What is the quality score of KTA?
Knaus Tabbert AG has a Quality Score of 52/100. 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 Knaus Tabbert AG (KTA)?
Knaus Tabbert AG reported trailing-twelve-month revenue of about €959M (latest available figure, as of Jul 14, 2026).
What is the net profit margin of KTA?
The net profit margin of Knaus Tabbert AG is about -3.0%, meaning it is currently running at a net loss. 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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