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Maschinenfabrik Berthold Hermle AG (MBH3) Fair Value & Analysis

Industrials · DE · Market cap €872M

MB Maschinenfabrik Berthold Hermle AG MBH3 · F
Price€177.50
Fair Value€235.14
Upside+32.5%
Quality68/100
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Strengths

Trades 32% below our fair value of €235.14
Solidly profitable · 10.4% net margin
generates free cash flow
Ranks above peers (10/13)

Risks

!Expensive Growth
!Moderate moat 59/100
Expensive Growth
Solidly profitable · 10.4% net margin
generates free cash flow
5.31% dividend yield
Ranks above peers (10/13)
Moderate moat 59/100
Evidence: High Range €154.83 – €318.01 Share as image

Fair value as of: Aug 20, 2026

From 25 valuation models · updated yesterday

Share price +0.3% over the past month.

A solid business, screening 32% undervalued on our models.

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What matters now

  • Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€154.83 to €318.01) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€233.30 €126.71 Fair Value €235.14 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 €126.71 – €233.30 · fair‑value band €154.83 – €318.01 · the €177.50 price screens below the €235.14 fair value. Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

Maschinenfabrik Berthold Hermle AG (MBH3) currently trades at €177.50, while our model-based Fair Value estimate is €235.14, implying the stock looks roughly 32.5% undervalued today. The Quality Score stands at 68/100 (solid quality), in the Industrials 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: high), always confirm before acting.

Over the trailing twelve months, Maschinenfabrik Berthold Hermle AG generated revenue of €494M at a net margin of 10.4%. Revenue grew 9.9% year over year. It earns a return on equity of 14.4%. The stock trades on a trailing P/E of 17.0 (as of Aug 20, 2026). Fundamentals as of Aug 20, 2026

Our scenario range runs from €154.83 (bear case) to €318.01 (bull case); at €177.50, 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 2% below its 52-week high and 41% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -46% fair-value upside, at 32%, MBH3 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
Residual Income €66.02 €77.06 €120.45 76
Growth DCF €43.49 €51.53 €60.91 72
Gordon GGM €85.53 €123.76 €159.55 70
All 25 models by family
DCF Models
FCF DCF €42.97 €51.70 €62.32 38
Owner Earnings €94.04 €119.46 €150.37 31
5Y Revenue Exit €89.83 €137.85 €197.36 39
5Y EBITDA Exit €105.57 €165.50 €232.33 41
5Y P/E Exit €109.23 €171.92 €233.96 38
10Y Revenue Exit €66.65 €103.02 €148.34 36
10Y EBITDA Exit €78.33 €119.98 €171.35 37
10Y P/E Exit €80.41 €123.92 €172.42 35
Earnings-Based
Graham-Dodd €69.87 €151.91 €193.35 54
PEG = 1.0 €23.81 €34.01 €44.22 46
EPV €86.37 €95.93 €103.90 59
Dividend Discount
Gordon GGM €85.53 €123.76 €159.55 70
DDM Multi-Stage €85.53 €116.63 €147.29 61
Multiples
P/E Multiple €161.84 €215.79 €269.73 63
P/S Multiple €131.01 €174.69 €218.36 58
P/B Multiple €131.01 €174.69 €218.36 55
EV/EBIT €177.69 €231.50 €285.31 53
EV/EBITDA €170.86 €222.39 €273.93 54
EV/Revenue €131.48 €180.85 €230.23 43
Asset-Based
NCAV (Graham) €35.29 €47.29 €70.59 50
Growth DCF
Growth DCF €43.49 €51.53 €60.91 72
Rev-Margin DCF €89.83 €137.59 €187.17 67
Economic Profit
Residual Income €66.02 €77.06 €120.45 76
ROIC Compounder €87.79 €100.31 €113.01 67
Growth Earnings
Growth-Adj P/E €119.88 €171.25 €222.63 68

Widest divergence: Multiples (€180.85) versus Asset-Based (€47.29). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) €494M
Revenue growth (YoY) +9.9%
Net margin 10.4%
Return on equity 14.4%
Free cash flow €15.3M FY2025
P/E ratio 17.0 as of Aug 20, 2026
More key figures
Operating margin 17.6%
EPS (TTM) €10.26
Dividend yield 5.3%
EPS growth (YoY) +9.6%

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

Quality Score breakdown

Overall quality 68/100

Of which business quality 65 · Market factors (momentum, volatility) 67

Profitability 69
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 73
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

Maschinenfabrik Berthold Hermle AG manufactures and sells milling machines worldwide. The company provides a portfolio of machining centre C product series use in space mouse, saw handle, milling tools, bone plate, soft ice cream, propeller, heavy-duty machining, steering knuckle, pipe die, engine housing, skiving/fir tree, pipe support, power skiving, …

Full company description

Maschinenfabrik Berthold Hermle AG manufactures and sells milling machines worldwide. The company provides a portfolio of machining centre C product series use in space mouse, saw handle, milling tools, bone plate, soft ice cream, propeller, heavy-duty machining, steering knuckle, pipe die, engine housing, skiving/fir tree, pipe support, power skiving, pelton wheel, sledge, fan module, spiral funnel, railway wheel, rocker box, die mould, downhill bike pedal, moulding plate, sailboat, model making, and connecting rod applications. It also offers industries solution for model making, shut-off valve, dough tray, stator ring, drone, bone plate, motor housing, structured part, connecting panel, tool and mould making, fan impeller tool mould, broaching cycle, pipe die, pipe support, and sledge applications. In addition, the company provides support and training services. Maschinenfabrik Berthold Hermle AG was founded in 1938 and is headquartered in Gosheim, Germany.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Maschinenfabrik Berthold Hermle AG reported revenue of €492M in FY2025 versus €376M in FY2021, a compound +6.9%/yr. Reported net income was €51.4M in FY2025, compounding −1.6%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€492M
Latest YoY
+0.8%
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.
+1.2%
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.
+10.6%
Avg. growth/yr (11Y) 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.
+3.2%
Revenue +6.9%/yr
FY21 €376M
FY22 €474M
FY23 €532M
FY24 €488M
FY25 €492M
Net income −1.6%/yr
FY21 €54.9M
FY22 €71.8M
FY23 €87.6M
FY24 €65.9M
FY25 €51.4M

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Cite: Fair Value Calculator (2026). "Maschinenfabrik Berthold Hermle AG Fair Value". https://www.fairvalue-calculator.com/stock/MBH3

Peer Group

Specialty Industrial Machinery · 815 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 68 · Top 25%
Fair Value upside +34% · Top 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 10% · Above median
Operating margin (TTM) 18% · Top 25%
Revenue growth 10% · Above median
Dividend yield (TTM) 5.4% · Top 25%

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 17.0× · Cheaper than 75% of peers
P/B 2.89× · Pricier than median
P/S (TTM) 2.06× · Pricier than median
P/FCF 66.6× · Pricier than 75% of peers
EV/EBITDA 11.9× · Cheaper 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE78 · sector 0
FUTURE50 · sector 21
PAST58 · sector 28
HEALTH0 · sector 95
DIVIDEND100 · sector 26

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

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Frequently asked questions

Is Maschinenfabrik Berthold Hermle AG (MBH3) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of €235.14 versus a price of €177.50, about +32% (undervalued).
What is the fair value of MBH3?
Our model-based fair value for Maschinenfabrik Berthold Hermle AG is €235.14 (as of Aug 20, 2026), built from audited fundamentals. The current price: €177.50.
What is the quality score of MBH3?
Maschinenfabrik Berthold Hermle AG has a Quality Score of 68/100. 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 Maschinenfabrik Berthold Hermle AG (MBH3)?
Maschinenfabrik Berthold Hermle AG reported trailing-twelve-month revenue of about €494M (latest available figure, as of Aug 20, 2026).
What is the net profit margin of MBH3?
The net profit margin of Maschinenfabrik Berthold Hermle AG is about 10.4%, meaning it keeps roughly 10.4% of revenue as net income. Based on the latest reported figures.
Does Maschinenfabrik Berthold Hermle AG pay a dividend?
Maschinenfabrik Berthold Hermle AG currently shows a dividend yield of about 5.31% relative to its recent price (as of Aug 20, 2026).

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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