thyssenkrupp nucera AG & Co. KGaA (NCH2) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of thyssenkrupp nucera AG & Co. KGaA €3.34, price €8.76, upside -61.9%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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thyssenkrupp nucera AG & Co. KGaA
NCH2 · XETRAWeakest SetupStrongly overvalued and low quality.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
39‑month range €6.91 – €24.02 · the €8.76 price screens above the €3.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Company profile
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.
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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.
Stock analysis
thyssenkrupp nucera AG & Co. KGaA (NCH2) currently trades at €8.76, while our model-based Fair Value estimate is €3.34, 61.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of €7.31 per share, and 0 of the 20 models we run sit above the €8.76 price.
Bear case: the Multiples group reads lowest at €0.7600, and 20 of the 20 models stay below the price. Evidence for this calculation is low.
Quality & growth
The Quality Score stands at 49/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
Key figures
Market cap €1.1B · P/S ratio 1.69 · EPS (TTM) €−0.5400 · Net margin 0.5% · Return on equity −9.4% · Return on assets (EBIT) 1.8% · Operating margin −129% · Revenue (TTM) €564M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 27% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at −62%, NCH2 screens richer than that median.
Fair Value models
All 20 models by family
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Set up alert →Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 38
Revenue & earnings trend
Growth Forecast
NCH2 screens overvalued: fair value 62% below the price. Compare with GE Vernova Inc →
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Price, fair value, quality and upside side by side.
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.Specialty Industrial Machinery · 806 stocks
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: German Stocks
- Valuation of the Germany market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| GE Vernova Inc GEV | $957.63 | $142.61 | −85% |
| SIE SIE | €278.30 | €150.42 | −46% |
| Eaton Corporation ETN | $433.27 | $173.12 | −60% |
| Parker-Hannifin Corporation PH | $970.37 | $494.81 | −49% |
| Emerson Electric Co EMR | $158.23 | $62.54 | −60% |
| Illinois Tool Works Inc ITW | $274.32 | $153.33 | −44% |
| Cummins Inc CMI | $525.06 | $359.11 | −32% |
| AMETEK, Inc AME | $250.74 | $125.77 | −50% |
| Rockwell Automation, Inc ROK | $434.15 | $139.31 | −68% |
| Sandvik AB SAND | kr 378.00 | kr 193.59 | −49% |
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Key figures of thyssenkrupp nucera AG & Co. KGaA
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