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MS Industrie AG (MSAG) Fair Value & Analysis

Consumer Cyclical · DE · Market cap €37.5M

MI MS Industrie AG MSAG · XETRA
Price€1.22
Fair Value€1.94
Upside+58.7%
Quality46/100
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Weak Growth
Loss-making · -3.7% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/12)
Narrow moat 15/100
Evidence: Medium Range €1.22 – €2.67 Share as image

Fair value as of: Jul 17, 2026

From 10 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from €2.23 to €1.94 (−13.2%) since Jun 25, 2026. Share price −2.4% over the past month.

Below-average quality, screening 59% undervalued on our models.

What matters now

  • Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€1.22 to €2.67) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€2.28 €1.14 Fair Value €1.94 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range €1.14 – €2.28 · fair‑value band €1.22 – €2.67 · the €1.22 price screens below the €1.94 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

Full chart & analysis →

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Analysis

MS Industrie AG (MSAG) currently trades at €1.22, while our model-based Fair Value estimate is €1.94, implying the stock looks roughly 58.7% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Consumer Cyclical 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: medium), always confirm before acting.

Over the trailing twelve months, MS Industrie AG generated revenue of €145M at a net margin of -3.7%. Revenue grew 11.9% year over year. It earns a return on equity of -9.2%. Net debt stands at €19.7M. Fundamentals as of Jul 17, 2026

Our scenario range runs from €1.22 (bear case) to €2.67 (bull case); at €1.22, 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 30% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at 59%, MSAG 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
Growth DCF €0.2900 €0.4900 €0.7100 80
Rev-Margin DCF €0.3000 €0.6300 €1.01 74
EV/EBITDA €1.21 €1.71 €2.22 54
All 10 models by family
DCF Models
FCF DCF €0.2900 €0.5200 €0.7900 38
5Y Revenue Exit €0.3000 €0.6300 €1.04 39
5Y EBITDA Exit €0.7100 €1.37 €2.15 41
10Y Revenue Exit €0.2800 €0.5400 €0.8900 36
10Y EBITDA Exit €0.5100 €0.9800 €1.61 37
Multiples
EV/EBITDA €1.21 €1.71 €2.22 54
EV/Revenue €0.3500 €0.6300 €0.9100 43
Asset-Based
NCAV (Graham) €0.9200 €1.23 €1.84 50
Growth DCF
Growth DCF €0.2900 €0.4900 €0.7100 80
Rev-Margin DCF €0.3000 €0.6300 €1.01 74

Widest divergence: Asset-Based (€1.23) versus Growth DCF (€0.4900). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €145M
Revenue growth (YoY) +11.9%
Net margin -3.7%
Return on equity -9.2%
Free cash flow €2.1M FY2025
Operating margin -0.5%
More key figures
EPS (TTM) €-0.1800
EPS growth (YoY) -59.8%
Net debt €19.7M FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 45 · Market factors (momentum, volatility) 42

Profitability 31
Margins and returns on capital today
Quality Growth 16
Are margins and returns improving?
Cashflow 20
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 93
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

MS Industrie AG primarily operates in the powertrain and ultrasonic technology businesses in Germany and internationally. It designs, develops, and manufactures automotive components and systems for engines.

Full company description

MS Industrie AG primarily operates in the powertrain and ultrasonic technology businesses in Germany and internationally. It designs, develops, and manufactures automotive components and systems for engines. The company also offers services in the field of ultrasonic technologies for the automotive, textile, medical technology, consumer goods, and other industries, such as customer-specific and turnkey special ultrasonic machines; servo presses for welding, sealing, cutting, separating welding, and punching; and systems and components comprising generators and converters, amplitude transformers and sonotrodes, feed units, and manual ultrasonic welding units. In addition, it provides corporate finance, controlling and reporting, risk management, corporate governance, and transaction advisory services. Further, the company produces electric motors and associated components, centrifugal fans and blowers, and e-mobility drives for refrigeration logistics, textile machinery, pumps, lifting equipment, and various special mechanical engineering applications. Additionally, it operates a solar power plant. The company was formerly known as GCI Industrie AG and changed its name to MS Industrie AG in July 2012. The company was founded in 1991 and is headquartered in Munich, Germany.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MS Industrie AG reported revenue of €145M in FY2025 versus €165M in FY2021, a compound −3.2%/yr. Reported net income was −€5.3M in FY2025.

Growth Quality 18/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€145M
Latest YoY
−15.5%
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.
−11.1%
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.
−2.5%
Avg. growth/yr (25Y) 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.
+10.7%
Revenue −3.2%/yr
FY21 €165M
FY22 €206M
FY23 €250M
FY24 €171M
FY25 €145M
Net income
FY21 −€4.0M
FY22 €1.2M
FY23 €4.4M
FY24 −€3.9M
FY25 −€5.3M

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Cite: Fair Value Calculator (2026). "MS Industrie AG Fair Value". https://www.fairvalue-calculator.com/stock/MSAG

Peer Group

Auto Parts · 641 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 46 · Below median
Fair Value upside +59% · Top 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) -4% · Bottom 25%
Operating margin (TTM) -1% · Bottom 25%
Revenue growth 12% · Above median
Debt / equity 0.17× · Higher than median

Valuation Multiples vs Auto Parts median · lower = cheaper

P/B 0.79× · Cheaper than 75% of peers
P/S (TTM) 0.30× · Cheaper than 75% of peers
P/FCF 20.3× · Pricier than 75% of peers
EV/EBITDA 8.3× · 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.

VALUE 100 · sector 17
FUTURE 60 · sector 24
PAST 0 · sector 26
HEALTH 92 · sector 95
DIVIDEND 0 · sector 30

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 MS Industrie AG (MSAG) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of €1.94 versus a price of €1.22, about +59% (undervalued).
What is the fair value of MSAG?
Our model-based fair value for MS Industrie AG is €1.94 (as of Jul 17, 2026), built from audited fundamentals. The current price is €1.22.
What is the quality score of MSAG?
MS Industrie AG has a Quality Score of 46/100. 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 MS Industrie AG (MSAG)?
MS Industrie AG reported trailing-twelve-month revenue of about €145M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of MSAG?
The net profit margin of MS Industrie AG is about -3.7%, meaning it is currently running at a net loss. 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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