NFON AG (NFN) Fair Value & Analysis
Technology · DE · Market cap €61.6M
Fair value as of: Jul 18, 2026
From 24 valuation models · updated 23 days ago
Share price −6.3% over the past month.
A solid business, but screening 27% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (€3.39). The favourable scenario is already priced in.
- Solid but not exceptional quality (59/100) 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 18, 2026.
How to read this chart
60‑month range €3.14 – €19.65 · fair‑value band €2.04 – €3.39 · the €3.73 price screens above the €2.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.
Analysis
NFON AG (NFN) currently trades at €3.73, while our model-based Fair Value estimate is €2.72, implying the stock looks roughly 27.1% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Technology 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, NFON AG generated revenue of €88.6M at a net margin of 1.6%. Revenue declined 2.3% year over year. It earns a return on equity of 2.9%. Net debt stands at €7.9M. Fundamentals as of Jul 18, 2026
Our scenario range runs from €2.04 (bear case) to €3.39 (bull case); at €3.73, 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 47% below its 52-week high and 24% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at -27%, NFN 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 (€5.08) versus Earnings-Based (€1.22). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 35
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
NFON AG engages in the provision of integrated cloud business communication in Germany, Austria, the United Kingdom, Italy, the Netherlands, Poland, Spain, France, and Switzerland.
Full company description
NFON AG engages in the provision of integrated cloud business communication in Germany, Austria, the United Kingdom, Italy, the Netherlands, Poland, Spain, France, and Switzerland. It offers business telephony products, such as cloud telephony, cloud telephony details, sip trunk, sip trunk details, and devices; intelligent assistants, including Nia, Nia FrontDesk, botario, AI Essentials, and AI Capabilities; integrations, which includes Microsoft teams integration for cloud telephony, CRM integrations, telephony integrations, and application programming interface; and add-ons, such as queue monitoring, reception, hospitality, and call recording. In addition, the company provides solutions for industries, comprising health and wellness, retail and e-commerce, finance legal and insurance, travel and hospitality, and public sectors. The company was founded in 2007 and is headquartered in Munich, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
NFON AG reported revenue of €89.1M in FY2025 versus €75.9M in FY2021, a compound +4.1%/yr. Reported net income was €2.2M in FY2025.
NFN screens 27% overvalued. Compare with Microsoft Corporation →
Peer Group
Software - Infrastructure · 370 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 Software - Infrastructure 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.
Insider activity: 40/100
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 Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $384.00 | $274.17 | -29% |
| Oracle Corporation ORAC | C$9.08 | C$2.94 | -68% |
| Fortinet, Inc FTNT | $160.78 | $44.96 | -72% |
| Synopsys, Inc 1SNPS | €354.50 | €93.61 | -74% |
| Block, Inc XYZ | A$114.53 | A$70.69 | -38% |
| CoreWeave, Inc CRWV | $79.94 | $44.89 | -44% |
| Range Intelligent Computing Technology Group 300442 | ¥71.60 | ¥34.00 | -53% |
| Oracle Financial Services Software Limited OFSS | ₹11,651 | ₹5,821 | -50% |
| 360 Security Technology Inc 601360 | ¥9.64 | ¥5.05 | -48% |
| One97 Communications Limited PAYTM | ₹1,342 | ₹181.50 | -86% |
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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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