Wendel (MF) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Wendel stock €105, price €88.40, upside +18.8%, quality 55 out of 100. Rating: undervalued. Calculated from audited financials with 3 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range €58.39 – €100.79 · fair‑value band €60.14 – €166.07 · the €88.40 price screens below the €105.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Wendel is a private equity firm specializing in equity financing in middle markets and later stages through leveraged buy-out and transactions and acquisitions. It invests in both listed and non-listed companies. The firm also invest in private debt and secondary.
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The firm typically invests in btob, education technology, energy transition, technology services, software, business services, healthcare, and industrial technology.
The firm seeks to invest in Africa, Europe, European Developed Markets, Western Europe, particularly France, and North America (United States and Canada). It invests between 300 million ($354.04 million) and 800 million ($944.12 million).
It targets majority/control/large minority investments in listed or unlisted companies. The firm seeks to take a seat on the board of directors or supervisory board and key committees of its portfolio companies. It makes balance sheet investments.
Wendel was founded in 1704 and is headquartered in Paris, France with additional offices across Asia, North America, United Kingdom and Europe.
Stock analysis
Wendel (MF) currently trades at €88.40, while our model-based Fair Value estimate is €105.03, implying the stock looks roughly 16% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of €425.56 per share, and 3 of the 3 models we run sit above the €88.40 price.
Bear case: the DCF Models group reads lowest at €105.03, and 0 of the 3 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €60.14 (bear) to €166.07 (bull), the price of €88.40 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 55/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Wendel reported revenue of €7.6B in FY2025 versus €7.5B in FY2021, a compound +0.2%/yr. Reported net income was −€152M in FY2025.
Key figures
Market cap €3.7B Mid · P/S ratio 0.40 · EPS (TTM) €−2.36 · Dividend yield 7.0% · Net margin −1.1% · Return on equity 8.0% · Return on assets (EBIT) 5.6% (5-year average) · Operating margin 12.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 24% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at 19%, MF screens cheaper than that median.
Fair Value models
Bear€60.14Fair Value €105.03Bull€166.07
Price €88.40 · Upside +18.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−6.1%
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.
−4.5%
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.
+2.1%
Start year 2020 (pandemic). Over 10 years: −0.1% a year
Revenue growth 24 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.
+11.9%
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Profit margin (trend) ⓘ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.
7.0% (2020) → 10.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−17.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −19.0% a year for the price and +0.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: The business gains flexibility from recent portfolio exits and third-party platform growth yet remains constrained by negative net income and weak return on equity.
Main risk: Persistent negative net income and return on equity could restrict capital available for expanding the third-party asset management platform.
Wendel has finalized the exit from its Stahl stake at a premium to the prior net asset value, adding flexibility amid its portfolio rotation. The group continues expanding its third-party asset management platform alongside principal investments. Our models see it as undervalued. Will the growing weight of recurring fees create steadier value than the classic cycle of acquiring, developing and exiting holdings?
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.Asset Management · 588 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score55 · Below median
Fair Value upside+18.8% · Below median
Profitability
Return on equity (12 months)8.0% · Above median
Return on assets−0.9% · Bottom 25%
Net margin (12 months)−1.1% · Bottom 25%
Operating margin (12 months)12.6% · Below median
Growth and dividend
Revenue growth (quarter YoY)3.2% · Below median
Dividend yield (12 months)7.0% · Top 25%
Balance sheet
Debt / equity1.35× · Highest 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
P/B1.05× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Wendel Fair Value". https://www.fairvalue-calculator.com/stock/MF
Frequently asked questions
Is Wendel (MF) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €105.03 versus a price of €88.40, about +19% upside (undervalued).
What is the fair value of MF?
Our model-based fair value for Wendel is €105.03 (as of Nov 7, 2026), built from audited fundamentals. The current price: €88.40.
What is the quality score of MF?
Wendel has a Quality Score of 55/100. 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 Wendel (MF)?
Our model-based price target is the fair value of €105.03 (as of Nov 7, 2026) from 3 valuation models. Cautious scenario €60.14, optimistic scenario €166.07. It is a calculation from audited fundamentals, not an analyst target.
What is the Wendel stock forecast for 2026?
Our models put fair value at €105.03, about +19% upside versus a price of €88.40 (undervalued). Cautious scenario €60.14, optimistic scenario €166.07. The calculation is refreshed regularly with new filings.
What is the revenue of Wendel (MF)?
Wendel reported trailing-twelve-month revenue of about €7.9B (latest available figure, as of Nov 7, 2026).
Does Wendel pay a dividend?
Wendel currently shows a dividend yield of 6.96% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Wendel (MF) and when is the ex-dividend date?
Wendel pays a dividend of €6.15 per share a year, a dividend yield of 7.0%. The next ex-dividend date is Nov 17, 2026. A dividend has been paid every year since at least 1990. Free cash flow covers the dividend 6.26 times. Our assessment: Cash covered. The dividend is fully funded by free cash flow. The payout ratio on earnings is not available for this company.
What growth is priced into Wendel (MF)?
For today's price to be fair in a discounted-cash-flow model, Wendel would have to grow free cash flow by -17.2 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.1 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of MF use?
Our models discount Wendel at 10.4 %: a base by market capitalisation (mid), damped by beta 1.03, country premium for France. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Wendel that is -17.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Wendel (MF) delivered so far?
Over the past 5 years revenue at Wendel grew +2.1 % a year. The price currently implies free-cash-flow growth of -17.2 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Wendel (MF) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Wendel (-17.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Wendel (MF)?
The free-cash-flow yield on the price is 40.42 %: that much free cash flow Wendel produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Wendel (MF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wendel it is €105.03 per share (as of Nov 7, 2026), against a price of €88.40. It is the blended result of 3 valuation models in 2 families (DCF Models, Growth DCF).
Is Wendel stock overvalued or undervalued in 2026?
As of Nov 7, 2026, MF trades below its calculated fair value: price €88.40, fair value €105.03, a gap of about +19% (undervalued). 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 MF?
No. The price is what the market pays today (€88.40); the fair value is what the company's own numbers justify (€105.03). For Wendel the two are €16.63 per share apart. That gap is exactly why we show both numbers side by side.
How much is Wendel worth?
The market values Wendel at about €3.7B (market capitalisation, as of Nov 7, 2026). Per share that is €88.40; our models calculate a fair value of €105.03 per share.
What do the bullish and bearish scenarios say about MF?
Our models span a range for Wendel: cautious scenario €60.14, base €105.03, optimistic €166.07 per share (as of Nov 7, 2026, price €88.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of MF?
The PEG ratio of Wendel is 0.78 (P/E divided by earnings growth, as of Nov 7, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Wendel (MF)?
Balance-sheet figures for Wendel (as of Nov 7, 2026): return on equity 8.0%, debt of 1.35 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is MF from its 52-week high?
Wendel trades at €88.40, about 2% below its 52-week high of €89.90 and 24% above the low of €71.53 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €105.03 is for.
Which stocks are comparable to Wendel?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Asset Management Ltd, KKR & Co, Apollo Global Management, Inc, 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 Wendel stock attractive at the current price?
The data as of Nov 7, 2026: price €88.40, calculated fair value €105.03 (+19%), Quality Score 55/100, from 3 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 MF calculated?
We run Wendel through 3 models from 2 families: DCF Models, Growth DCF. Every model gets the same audited fundamentals; the fair value of €105.03 builds on their evidence-weighted average, 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. Wendel currently trades 16% below its own fair value, and the market average says nothing about that. 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 Wendel (MF)?
The closing price on Nov 6, 2026 was €88.40. Our model-based fair value is €105.03, about +19% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wendel right now?
The model range is unusually wide (€60.14 to €166.07). The outcome hinges heavily on assumptions, so read the point estimate with caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Wendel
How large is the market capitalisation of Wendel (MF)?
The market capitalisation of Wendel is €3.7B. 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 Wendel (MF)?
The price-to-sales ratio of Wendel is 0.40 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Wendel (MF)?
Earnings per share at Wendel are €−2.36. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Wendel (MF)?
The dividend yield of Wendel is 7.0%. 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 Wendel (MF)?
The net margin of Wendel is −1.1% (last twelve months). 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 Wendel (MF)?
The return on equity (ROE) of Wendel is 8.0% (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 Wendel (MF)?
On an EBIT basis the return on assets of Wendel is 5.6% (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 Wendel (MF)?
The operating margin of Wendel is 12.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wendel (MF)?
Revenue at Wendel is growing +3.2% versus a year earlier (3y avg −4.5%). 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 Wendel (MF)?
Earnings per share at Wendel are growing +15.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Wendel (MF) carry?
The net debt of Wendel is €3.4B (fiscal year 2025, ≈ 2.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 7, 2026