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Oberstdorfer Bergbahn AG (KVO) Fair Value & Analysis

Consumer Cyclical · DE · Market cap €5.7M

OB Oberstdorfer Bergbahn AG KVO · MU
Price€234.00
Fair Value€188.60
Upside-19.4%
Quality39/100
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Risks

!Trades 19% ABOVE our fair value of €188.60
!Weak Growth
!Thin margins · 5.0% net margin
!Moderate debt
Weak Growth
Thin margins · 5.0% net margin
Moderate debt
Mixed vs. peers (5/12)
Narrow moat 39/100
Evidence: Medium Range €141.45 – €235.75 Share as image

Fair value as of: Aug 20, 2026

From 11 valuation models · updated yesterday

Share price +6.4% over the past month.

Below-average quality, and screening another 19% overvalued on our models.

What matters now

  • Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • Our model range runs from €141.45 (bear) to €235.75 (bull), base €188.60. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 39/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

€240.00 €155.00 Fair Value €188.60 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range €155.00 – €240.00 · fair‑value band €141.45 – €235.75 · the €234.00 price screens above the €188.60 fair value. Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

Oberstdorfer Bergbahn AG (KVO) currently trades at €234.00, while our model-based Fair Value estimate is €188.60, implying the stock looks roughly 19.4% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Consumer Cyclical 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, Oberstdorfer Bergbahn AG generated revenue of €8.3M at a net margin of 5.0%. It earns a return on equity of 5.7%. The stock trades on a trailing P/E of 30.1 (as of Aug 20, 2026). Fundamentals as of Aug 20, 2026

Our scenario range runs from €141.45 (bear case) to €235.75 (bull case); at €234.00, 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 near its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 11% fair-value upside, at -19%, KVO 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.

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
ROIC Compounder €15.23 €28.57 €39.39 72
Growth-Adj P/E €129.04 €184.34 €239.65 68
P/E Multiple €183.06 €244.07 €305.09 63
All 11 models by family
Earnings-Based
Graham-Dodd €75.44 €92.21 €103.73 54
EPV €15.23 €28.57 €39.39 59
Multiples
P/E Multiple €183.06 €244.07 €305.09 63
P/S Multiple €141.45 €188.60 €235.75 58
P/B Multiple €141.45 €188.60 €235.75 55
EV/EBIT €137.49 €215.30 €293.10 53
EV/Revenue €61.42 €128.85 €196.28 43
Asset-Based
NCAV (Graham) €53.96 €72.31 €107.92 50
Economic Profit
Residual Income €85.82 €91.97 €102.58 61
ROIC Compounder €15.23 €28.57 €39.39 72
Growth Earnings
Growth-Adj P/E €129.04 €184.34 €239.65 68

Widest divergence: Multiples (€188.60) versus Earnings-Based (€28.57). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) €8.3M
Net margin 5.0%
Return on equity 5.7%
P/E ratio 30.1 as of Aug 20, 2026
Operating margin 8.9%
EPS (TTM) €7.77

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 38 · Market factors (momentum, volatility) 74

Profitability 53
Margins and returns on capital today
Quality Growth 12
Are margins and returns improving?
Fin. Strength 22
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 74
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)

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

Oberstdorfer Bergbahn AG operates ski and hiking in Germany. The company provides services for winter sports, including skiing, tobogganing, snowcat riding, sleeping in an igloo, and the Allgäu Coaster; and summer activities such as wooden ball track and climbing forest experiences.

Full company description

Oberstdorfer Bergbahn AG operates ski and hiking in Germany. The company provides services for winter sports, including skiing, tobogganing, snowcat riding, sleeping in an igloo, and the Allgäu Coaster; and summer activities such as wooden ball track and climbing forest experiences. It also offers group tours and school classes; and cable car, chairlift, and three drag lifts. In addition, the company offers snow groomer, ticket and cash registers, kitchen equipment, snowmaking systems, and invests in hardware and software components for digital operations. Further, it operates the Berghaus Schönblick restaurant and hotel. The company was founded in 1927 and is headquartered in Oberstdorf, Germany.

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

Revenue & earnings trend

FY2013 – FY2016 · reported fiscal years

Oberstdorfer Bergbahn AG reported revenue of €4.5M in FY2016 versus €4.9M in FY2013, a compound −2.9%/yr. Reported net income was €233K in FY2016, compounding −0.4%/yr from FY2013.

Growth Quality 12/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2016)
€4.5M
Latest YoY
−11.2%
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.
−2.9%
Revenue −2.9%/yr
FY13 €4.9M
FY14 €4.7M
FY15 €5.1M
FY16 €4.5M
Net income −0.4%/yr
FY13 €236K
FY14 €192K
FY15 €214K
FY16 €233K

KVO screens 19% overvalued. Compare with ANTA Sports Products Limited →

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Cite: Fair Value Calculator (2026). "Oberstdorfer Bergbahn AG Fair Value". https://www.fairvalue-calculator.com/stock/KVO

Peer Group

Leisure · 191 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 39 · Bottom 25%
Fair Value upside −19% · Below median
Return on equity (TTM) 6% · Above median
Return on assets 2% · Below median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth 0% · Below median
Debt / equity 0.94× · Higher than 75% of peers

Valuation Multiples vs Leisure median · lower = cheaper

P/E (TTM) 30.1× · Pricier than median
P/B 2.93× · Pricier than median
P/S (TTM) 0.80× · Cheaper than median
EV/EBITDA 3.0× · Cheaper 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE7 · sector 20
FUTURE0 · sector 16
PAST23 · sector 20
HEALTH53 · sector 94
DIVIDEND0 · sector 54

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 Leisure stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
ANTA Sports Products Limited 2020 HK$72.80 HK$119.82 +65%
Pop Mart International Group 9992 HK$151.00 HK$227.30 +51%
Amer Sports, Inc AS $33.03 $16.16 -51%
Hasbro, Inc HAS $94.89 $81.97 -14%
Life Time Group LTH $45.40 $15.61 -66%
Ninebot Limited 689009 ¥44.94 ¥39.73 -12%
Li Ning Company 2331 HK$14.59 HK$29.45 +102%
Asmodee Group ASMDEEB kr 158.70 kr 96.65 -39%
Smartfit Escola de Ginástica e Dança S.A SMFT3 R$17.25 R$22.90 +33%
Songcheng Performance Development Co 300144 ¥6.17 ¥6.85 +11%

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Frequently asked questions

Is Oberstdorfer Bergbahn AG (KVO) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of €188.60 versus a price of €234.00, about −19% (overvalued).
What is the fair value of KVO?
Our model-based fair value for Oberstdorfer Bergbahn AG is €188.60 (as of Aug 20, 2026), built from audited fundamentals. The current price: €234.00.
What is the quality score of KVO?
Oberstdorfer Bergbahn AG has a Quality Score of 39/100. 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 Oberstdorfer Bergbahn AG (KVO)?
Oberstdorfer Bergbahn AG reported trailing-twelve-month revenue of about €8.3M (latest available figure, as of Aug 20, 2026).
What is the net profit margin of KVO?
The net profit margin of Oberstdorfer Bergbahn AG is about 5.0%, meaning it keeps roughly 5.0% 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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