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There (M4N) Fair Value & Analysis

Other · DE · Market cap €66.3M

T There M4N · STU
Price€1.53
Fair Value€0.5200
Upside-65.9%
Quality63/100
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Weak Growth
Thin margins · 0.0% net margin
Low debt · negative free cash flow
Ranks above peers (8/10)
Moderate moat 49/100
Evidence: Low Range €0.3400 – €0.6500 Share as image

Fair value as of: Aug 20, 2026

From 1 valuation models · updated today

A solid business, but screening 66% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (€0.6500). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (€0.3400 to €0.6500) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€4.01 €1.01 Fair Value €0.5200 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 €1.01 – €4.01 · fair‑value band €0.3400 – €0.6500 · the €1.53 price screens above the €0.5200 fair value. Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

There (M4N) currently trades at €1.53, while our model-based Fair Value estimate is €0.5200, implying the stock looks roughly 65.9% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Other 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).

Our scenario range runs from €0.3400 (bear case) to €0.6500 (bull case); at €1.53, 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 near its 52-week high, currently above its 200-day average. For context, the median of 10 Other peers we cover trades at -24% fair-value upside, at -66%, M4N 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
NCAV (Graham) €0.2900 €0.3900 €0.5800 50
All 1 models by family
Asset-Based
NCAV (Graham) €0.2900 €0.3900 €0.5800 50

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Quality Score breakdown

Overall quality 63/100

Of which business quality 58 · Market factors (momentum, volatility) 56

Profitability 11
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 20
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 100
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

There is no Profile data available for M4N.SG.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

There reported revenue of €10.5M in FY2024 versus €260M in FY2020, a compound −55.2%/yr. Reported net income was −€3.1M in FY2024.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2024)
€10.5M
Latest YoY
−25.7%
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.
−67.2%
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.
−48.7%
Avg. growth/yr (8Y) 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.
−32.9%
Revenue −55.2%/yr
FY20 €260M
FY21 €299M
FY22 €288M
FY23 €14.1M
FY24 €10.5M
Net income
FY20 €305K
FY21 €8.3M
FY22 €3.6M
FY23 −€3.9M
FY24 −€3.1M

M4N screens 66% overvalued. Compare with Federal Home Loan Mortgage Corporation →

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Cite: Fair Value Calculator (2026). "There Fair Value". https://www.fairvalue-calculator.com/stock/M4N

Peer Group

Other · 382 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 58 · Above median
Fair Value upside −66% · Bottom 25%
Return on assets 0% · Top 25%
Net margin (TTM) 0% · Above median
Operating margin (TTM) 0% · Above median
Revenue growth 0% · Top 25%

Valuation Multiples vs Other median · lower = cheaper

P/B 3.06× · Pricier than 75% of peers
EV/EBITDA 2.1× · 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
VALUE0 · sector 10
FUTURE0 · sector 0
PAST0 · sector 0
HEALTH100 · sector 98
DIVIDEND0 · sector 26

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.

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.

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Frequently asked questions

Is There (M4N) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of €0.5200 versus a price of €1.53, about −66% (overvalued).
What is the fair value of M4N?
Our model-based fair value for There is €0.5200 (as of Aug 20, 2026), built from audited fundamentals. The current price: €1.53.
What is the quality score of M4N?
There has a Quality Score of 63/100. 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 net profit margin of M4N?
The net profit margin of There is about 0.0%, meaning it keeps roughly 0.0% 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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