Lang & Schwarz Aktiengesellschaft (LUS1) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Lang & Schwarz Aktiengesellschaft €12.92, price €15.60, upside -17.2%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range €5.97 – €26.40 · fair‑value band €5.82 – €20.20 · the €15.60 price screens above the €12.92 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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Lang & Schwarz, together with its subsidiaries, engages in the development and issuance of derivative financial instruments in Germany. The company operates a platform for over-the-counter trading, which allows customers to trade in shares, funds, bonds, and ETPs; and LS Exchange, an electronic trading system.
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Lang & Schwarz, together with its subsidiaries, engages in the development and issuance of derivative financial instruments in Germany. The company operates a platform for over-the-counter trading, which allows customers to trade in shares, funds, bonds, and ETPs; and LS Exchange, an electronic trading system. It also provides IT services, hardware and software and maintenance services, and technical trading venue connection areas. The company was founded in 1996 and is headquartered in Düsseldorf, Germany.
Stock analysis
Lang & Schwarz Aktiengesellschaft (LUS1) currently trades at €15.60, while our model-based Fair Value estimate is €12.92, implying the stock looks roughly 20.8% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €58.12 per share, and 12 of the 13 models we run sit above the €15.60 price.
Bear case: the Asset-Based group reads lowest at €6.49, and 1 of the 13 models stay below the price. Evidence for this calculation is medium.
Scenario range: €5.82 (bear) to €20.20 (bull), the price of €15.60 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Lang & Schwarz Aktiengesellschaft reported revenue of €1.2B in FY2025 versus €839M in FY2021, a compound +9.3%/yr. Reported net income was €48.4M in FY2025, compounding +23.3%/yr from FY2021.
Key figures
Market cap €147M · P/E ratio 3.0 · P/S ratio 0.12 · EPS (TTM) €5.13 · Dividend yield 12.8% · Net margin 4.0% · Return on equity 63.6% · Return on assets (EBIT) 25.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 41% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −20% fair-value upside, at −17%, LUS1 screens cheaper than that median.
Fair Value models
Bear €5.82Fair Value €12.92Bull €20.20
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€2.29 per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+61.8%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+16.6%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+11.6%
Start year 2020 (pandemic). Over 10 years: +16.9% a year
Revenue growth 19 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+25.0%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+36.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.3%
Dividend (yield on the price)12.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.36% vs 26%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 7%
2025 sits 452% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Lang & Schwarz Aktiengesellschaft with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Capital Markets · 458 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside−18% · Below median
Profitability
Return on equity (TTM)64% · Top 25%
Return on assets5% · Top 25%
Net margin (TTM)4% · Below median
Operating margin (TTM)10% · Below median
Growth and dividend
Revenue growth109% · Top 25%
Dividend yield (TTM)12.8% · Top 25%
Valuation Multiplesvs Capital Markets median · lower = cheaper
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Is Lang & Schwarz Aktiengesellschaft (LUS1) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €12.92 versus a price of €15.60, about −17% upside (overvalued).
What is the fair value of LUS1?
Our model-based fair value for Lang & Schwarz Aktiengesellschaft is €12.92 (as of Sep 23, 2026), built from audited fundamentals. The current price: €15.60.
What is the quality score of LUS1?
Lang & Schwarz Aktiengesellschaft has a Quality Score of 61/100. 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 price target for Lang & Schwarz Aktiengesellschaft (LUS1)?
Our model-based price target is the fair value of €12.92 (as of Sep 23, 2026) from 13 valuation models. Cautious scenario €5.82, optimistic scenario €20.20. It is a calculation from audited fundamentals, not an analyst target.
What is the Lang & Schwarz Aktiengesellschaft stock forecast for 2026?
Our models put fair value at €12.92, about −17% upside versus a price of €15.60 (overvalued). Cautious scenario €5.82, optimistic scenario €20.20. The calculation is refreshed regularly with new filings.
What is the revenue of Lang & Schwarz Aktiengesellschaft (LUS1)?
Lang & Schwarz Aktiengesellschaft reported trailing-twelve-month revenue of about €1.2B (latest available figure, as of Sep 23, 2026).
Does Lang & Schwarz Aktiengesellschaft pay a dividend?
Lang & Schwarz Aktiengesellschaft currently shows a dividend yield of about 12.82% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Lang & Schwarz Aktiengesellschaft (LUS1)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lang & Schwarz Aktiengesellschaft it is €12.92 per share (as of Sep 23, 2026), against a price of €15.60. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Lang & Schwarz Aktiengesellschaft stock overvalued or undervalued in 2026?
As of Sep 23, 2026, LUS1 trades above its calculated fair value: price €15.60, fair value €12.92, a gap of about −17% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of LUS1?
No. The price is what the market pays today (€15.60); the fair value is what the company's own numbers justify (€12.92). For Lang & Schwarz Aktiengesellschaft the two are €2.68 per share apart. That gap is exactly why we show both numbers side by side.
How much is Lang & Schwarz Aktiengesellschaft worth?
The market values Lang & Schwarz Aktiengesellschaft at about €147M (market capitalisation, as of Sep 23, 2026). Per share that is €15.60; our models calculate a fair value of €12.92 per share.
What do the bullish and bearish scenarios say about LUS1?
Our models span a range for Lang & Schwarz Aktiengesellschaft: cautious scenario €5.82, base €12.92, optimistic €20.20 per share (as of Sep 23, 2026, price €15.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LUS1?
Lang & Schwarz Aktiengesellschaft trades at a price-to-earnings ratio of 3.0 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €12.92 is built from several models across several years. Other multiples: P/B 1.8, P/S 0.1.
How solid is the balance sheet of Lang & Schwarz Aktiengesellschaft (LUS1)?
Balance-sheet figures for Lang & Schwarz Aktiengesellschaft (as of Sep 23, 2026): return on equity 63.6%. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is LUS1 from its 52-week high?
Lang & Schwarz Aktiengesellschaft trades at €15.60, about 41% below its 52-week high of €26.40 and 4% above the low of €14.95 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €12.92 is for.
Which stocks are comparable to Lang & Schwarz Aktiengesellschaft?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Lang & Schwarz Aktiengesellschaft stock attractive at the current price?
The data as of Sep 23, 2026: price €15.60, calculated fair value €12.92 (−17%), Quality Score 61/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of LUS1 calculated?
We run Lang & Schwarz Aktiengesellschaft through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €12.92, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Lang & Schwarz Aktiengesellschaft itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Lang & Schwarz Aktiengesellschaft (LUS1)?
The closing price on Sep 24, 2026 was €15.60. Our model-based fair value is €12.92, about −17% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lang & Schwarz Aktiengesellschaft right now?
The model range is unusually wide (€5.82 to €20.20). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Lang & Schwarz Aktiengesellschaft (LUS1) come from?
Earnings per share at Lang & Schwarz Aktiengesellschaft grew +19.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +14.5 %, EBIT margin −0.3 %, tax rate −2.4 %, residual (interest, one-offs) +7.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Lang & Schwarz Aktiengesellschaft
How large is the market capitalisation of Lang & Schwarz Aktiengesellschaft (LUS1)?
The market capitalisation of Lang & Schwarz Aktiengesellschaft is €147M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Lang & Schwarz Aktiengesellschaft (LUS1)?
The price-to-sales ratio of Lang & Schwarz Aktiengesellschaft is 0.12 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Lang & Schwarz Aktiengesellschaft (LUS1)?
Earnings per share at Lang & Schwarz Aktiengesellschaft are €5.13 (price ÷ EPS = P/E 3.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Lang & Schwarz Aktiengesellschaft (LUS1)?
The dividend yield of Lang & Schwarz Aktiengesellschaft is 12.8% (payout 39.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Lang & Schwarz Aktiengesellschaft (LUS1)?
The net margin of Lang & Schwarz Aktiengesellschaft is 4.0% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Lang & Schwarz Aktiengesellschaft (LUS1)?
The return on equity (ROE) of Lang & Schwarz Aktiengesellschaft is 63.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Lang & Schwarz Aktiengesellschaft (LUS1)?
On an EBIT basis the return on assets of Lang & Schwarz Aktiengesellschaft is 25.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Lang & Schwarz Aktiengesellschaft (LUS1)?
The operating margin of Lang & Schwarz Aktiengesellschaft is 9.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lang & Schwarz Aktiengesellschaft (LUS1)?
Revenue at Lang & Schwarz Aktiengesellschaft is growing +109% versus a year earlier (3y avg +16.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Lang & Schwarz Aktiengesellschaft (LUS1)?
Earnings per share at Lang & Schwarz Aktiengesellschaft are growing −37.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Lang & Schwarz Aktiengesellschaft (LUS1) generate?
The free cash flow of Lang & Schwarz Aktiengesellschaft is €99.3M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Lang & Schwarz Aktiengesellschaft (LUS1) hold?
Lang & Schwarz Aktiengesellschaft holds more cash than debt, €150M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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