thyssenkrupp nucera AG & Co. KGaA (NCH2) Fair Value & Analysis

Industrials · DE · Market cap €950M

Below-average quality, and screening another 85% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (€1.53). The favourable scenario is already priced in.
• Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
• A fairly wide model range (€0.8200 to €1.53) leaves room in how you read the outcome.

Price vs Fair Value (3 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

37‑month range €6.91 – €24.02 · fair‑value band €0.8200 – €1.53 · the €7.91 price screens above the €1.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

thyssenkrupp nucera AG & Co. KGaA (NCH2) currently trades at €7.91, while our model-based Fair Value estimate is €1.18, implying the stock looks roughly 85.1% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Industrials 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: high).

Over the trailing twelve months, thyssenkrupp nucera AG & Co. KGaA generated revenue of €730M at a net margin of -1.0%. Revenue declined 43.9% year over year. It earns a return on equity of -1.0%. The balance sheet holds a net cash position of €656M. Fundamentals as of Aug 13, 2026

Our scenario range runs from €0.8200 (bear case) to €1.53 (bull case); at €7.91, 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 about 34% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -67% fair-value upside, at -85%, NCH2 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.

Widest divergence: Growth DCF (€7.22) versus Multiples (€0.7600). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

thyssenkrupp nucera AG & Co. KGaA engages in the development, engineering, procurement, commissioning, and licensing of electrolysis technologies in Germany, Saudi Arabia, Sweden, the United States, and internationally. It operates through the Chlor-Alkali (CA) and Green Hydrogen (gH2) segments.

Full company description

thyssenkrupp nucera AG & Co. KGaA engages in the development, engineering, procurement, commissioning, and licensing of electrolysis technologies in Germany, Saudi Arabia, Sweden, the United States, and internationally. It operates through the Chlor-Alkali (CA) and Green Hydrogen (gH2) segments. The company is involved in the development, planning, and construction of new-build electrolysis plants for producing green hydrogen for industrial applications; provision of services for chlor-alkali electrolysis, such as planning and construction of new plants. It also offers the BM 2.7 single-element technology and BiTAC filter press technology. The company was formerly known as thyssenkrupp Uhde Chlorine Engineers GmbH. The company was founded in 1960 and is headquartered in Dortmund, Germany. thyssenkrupp nucera AG & Co. KGaA operates as a subsidiary of Thyssenkrupp Projekt 1 GmbH.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

thyssenkrupp nucera AG & Co. KGaA reported revenue of €845M in FY2025 versus €319M in FY2021, a compound +27.5%/yr. Reported net income was €4.6M in FY2025, compounding −31.8%/yr from FY2021.

NCH2 screens 85% overvalued. Compare with GE Vernova Inc →

Peer Group

Specialty Industrial Machinery · 808 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.

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

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 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.

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

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.