Nordex SE (NDX1) Fair Value & Analysis
Industrials · DE · Market cap €9.5B
Fair value as of: Jul 16, 2026
From 24 valuation models · updated 22 days ago
Fair value updated Jul 16, 2026, revised from €25.25 to €25.14 (−0.4%) since Jun 24, 2026. Share price −4.1% over the past month.
A solid business, but screening 37% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (€30.40). The favourable scenario is already priced in.
- Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.
How to read this chart
60‑month range €7.28 – €50.00 · fair‑value band €18.24 – €30.40 · the €39.70 price screens above the €25.14 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.
Analysis
Nordex SE (NDX1) currently trades at €39.70, while our model-based Fair Value estimate is €25.14, implying the stock looks roughly 36.7% overvalued today. We read business quality at 51/100 (solid 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, Nordex SE generated revenue of €7.7B at a net margin of 4.2%. Revenue grew 10.6% year over year. It earns a return on equity of 27.5%. The balance sheet holds a net cash position of €1.3B. Fundamentals as of Jul 16, 2026
Our scenario range runs from €18.24 (bear case) to €30.40 (bull case); at €39.70, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 23% below its 52-week high and 143% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -37%, NDX1 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.
All 24 models by family
Widest divergence: DCF Models (€56.75) versus Asset-Based (€3.61). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 60
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
Nordex SE, together with its subsidiaries, develops, manufactures, and distributes multi-megawatt onshore wind turbines in Europe, North America, Latin America, and internationally. It operates in Projects and Services segments. The company offers Delta4000 and Delta series turbine platforms.
Full company description
Nordex SE, together with its subsidiaries, develops, manufactures, and distributes multi-megawatt onshore wind turbines in Europe, North America, Latin America, and internationally. It operates in Projects and Services segments. The company offers Delta4000 and Delta series turbine platforms. It also provides project development; maintenance and repair; spare parts; remote monitoring services for wind farms; upgrades; and technical and efficiency enhancements for existing turbines. Nordex SE was incorporated in 1985 and is headquartered in Hamburg, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Nordex SE reported revenue of €7.6B in FY2025 versus €5.4B in FY2021, a compound +8.5%/yr. Reported net income was €274M in FY2025.
NDX1 screens 37% overvalued. Compare with GE Vernova Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Nordex Group secures new US orders totalling more than 480 MW
- Nordex Group Obtains 77 MW Order in Romania
- Nordex Doubles Q2 EBITDA and Confirms 2026 Outlook on Strong Order Growth
- Nordex SE (NRDXF) Q2 2026 Earnings Call Highlights: Strong Revenue Growth and Robust Order Intake
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.
Similar stocks
10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| GE Vernova Inc 1GEV | €887.60 | €186.93 | -79% |
| 1SIE 1SIE | €273.20 | €91.93 | -66% |
| SMNS SMNS | C$31.76 | C$22.68 | -29% |
| Eaton Corporation ETN | $407.28 | $171.92 | -58% |
| Atlas Copco AB ATCOA | kr 195.15 | kr 112.59 | -42% |
| Sandvik AB SAND | kr 384.10 | kr 193.01 | -50% |
| Doosan Enerbility Co 034020 | 76,400 KRW | 7,938 KRW | -90% |
| Zhejiang Sanhua Intelligent Controls Co 002050 | ¥43.20 | ¥22.68 | -48% |
| Vestas Wind Systems A/S VWS | kr 178.10 | kr 124.54 | -30% |
| NARI Technology Co 600406 | ¥22.19 | ¥18.71 | -16% |
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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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