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Plan Optik AG (P4O) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Plan Optik AG stock €1.16, price €7.64, that is 84.8% below the price, quality 39 out of 100. Rating: strongly overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Technology DE · ISIN DE000A0HGQS8

PO Plan Optik AG logo Thin data Nov 9, 2026

Plan Optik AG

P4O · XETRA
Very expensive, weak quality

Our calculation puts a fair price 85% below what the stock costs today.

Low debt
Expensive Growth (revenue 5y +6.0 %/yr in EUR)
Thin margins · 0.7% net margin (TTM)
Profit last quarter 53% below a year ago.
Fair value €1.16 · Strongly overvalued
Quality 39/100
Negative free cash flow
Trails peers (1/12)
Narrow moat 20/100 · thin data
Thin data
Extreme value
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€14.60 €1.51 Fair Value €1.16 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.

How to read this chart

60‑month range €1.51 – €14.60 · fair‑value band €0.8700 – €1.24 · the €7.64 price screens above the €1.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 9, 2026.

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Company profile

Planoptik AG, together with its subsidiaries, manufactures and sells structured wafers in Germany and European Union.

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The company offers glass wafers; carrier chemical, thermal, laser, and mechanical release, as well as adapter carrier and tools; patterned packaging wafers with through holes, cavities, and channels; interposers; and structured and metallized glass substrates.

It also provides microreactors; fluidic chips; phase separators; pumps; pressure sensors and holders; and nanoparticle, photochemistry, and flow chemistry starter sets, as well as medical devices.

In addition, the company offers mechanical processing, patterning, wafer thinning, coating, wire sawing, and bonding, as well as metallization, redistribution layer, and 3D-integration; and pre-development, 3D-printing, vacuum casting, injection molding, and finishing services.

It sells its products under the PLANOPTIK, ACT, and WAFER UNIVERSE brand names. The company serves the consumer electronics, automotive, aerospace, chemistry, and pharmaceutical industries. Planoptik AG was incorporated in 2005 and is headquartered in Elsoff, Germany.

Stock analysis

Plan Optik AG (P4O) currently trades at €7.64, while our model-based Fair Value estimate is €1.16, 85% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of €1.20 per share, and 0 of the 6 models we run sit above the €7.64 price.

Bear case: the Asset-Based group reads lowest at €1.00, and 6 of the 6 models stay below the price. Data coverage for this calculation is low.

Scenario range: €0.8700 (bear) to €1.24 (bull), the price of €7.64 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 39/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Plan Optik AG reported revenue of €11.3M in FY2025 versus €9.5M in FY2021, a compound +4.5%/yr. Reported net income was −€59.0K in FY2025.

Key figures

Market cap €34.5M Micro · P/E ratio 382.0 · P/S ratio 2.97 · EPS (TTM) €0.0200 · Net margin 0.7% · Return on equity 0.6% · Return on assets (EBIT) 11.2% (5-year average) · Operating margin 3.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 20 out of 100 (low confidence).

What moves the price

The share trades about 48% below its 52-week high and 92% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −45% fair-value upside, at −85%, P4O screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely (€0.5900 to €6.74). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear €0.8700 Fair Value €1.16 Bull €1.24
Price €7.64 · Downside -84.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.0172 per share) are deliberately not added. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
EPV €1.08 €1.16 €1.24 74
ROIC Compounder €1.08 €1.16 €1.24 72
EV/EBITDA €5.02 €6.74 €8.46 67
All 6 models by family
Earnings-Based
EPV €1.08 €1.16 €1.24 74
Multiples
EV/EBIT €0.8700 €1.20 €1.53 66
EV/EBITDA €5.02 €6.74 €8.46 67
EV/Revenue €0.3700 €0.5900 €0.8000 53
Asset-Based
NCAV (Graham) €0.6600 €1.00 €1.24 55
Economic Profit
ROIC Compounder €1.08 €1.16 €1.24 72

Open the full fair value analysis →

Quality Score breakdown

Overall quality 39/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 23
How much profit the company makes from its sales and capital
Quality Growth 10
Are margins and returns getting better?
Cashflow 6
Do the profits arrive as real cash?
Financial strength 81
Debt, balance sheet and risk of trouble
Investment 51
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 46
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 67
Distance to the 52-week high, does not count
New shares 84
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 33/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−5.0%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−0.6%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+6.0%
Start year 2020 (pandemic). Over 10 years: +4.8% a year
Revenue growth 16 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+6.0%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−2.8% (2020) → 2.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

P4O screens overvalued: fair value 85% below the price. Compare with Keysight Technologies, Inc →

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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.Scientific & Technical Instruments · 160 stocks

Beats the industry median on 1/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 39 · Bottom 25%
Fair Value upside −84.8% · Bottom 25%
Profitability
Return on equity (12 months) 0.6% · Below median
Return on assets −0.3% · Below median
Net margin (12 months) 0.7% · Below median
Operating margin (12 months) 3.7% · Below median
Growth and dividend
Revenue growth (quarter YoY) 5.7% · Below median
Balance sheet
Debt / equity 0.08× · Above median

Valuation Multiplesvs Scientific & Technical Instruments median · lower = cheaper

P/E (12 months) 382.0× · Priciest 25%
P/B 2.72× · Pricier than median
P/S (12 months) 2.97× · Cheaper than median
EV/EBITDA 48.3× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)29 · sector 47
PAST (return on equity)3 · sector 24
HEALTH (low debt)96 · sector 99
DIVIDEND (yield)0 · sector 20

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Garmin Ltd GRMN $285.57 $314.13 +10% vs P4O
Teledyne Technologies Incorporated TDY $618.60 $680.46 +10% vs P4O
MKS Inc MKSI $192.27 $199.16 +4% vs P4O
Cognex Corporation CGNX $47.78 $38.10 −20% vs P4O
Fortive Corporation FTV $65.37 $35.67 −45% vs P4O
Trimble Inc TRMB $54.11 $29.48 −46% vs P4O
Chroma ATE Inc 2360 1,250 TWD 607.12 TWD −51% vs P4O
Coherent Corp COHR $192.81 $92.93 −52% vs P4O
Keysight Technologies, Inc KEYS $272.13 $117.27 −57% vs P4O
AVIC Chengdu Aircraft Company 302132 ¥70.00 ¥12.60 −82% vs P4O

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Plan Optik AG: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Plan Optik AG Fair Value". https://www.fairvalue-calculator.com/stock/P4O

Frequently asked questions

Is Plan Optik AG (P4O) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of €1.16 versus a price of €7.64, about 85% lower (overvalued).
What is the fair value of P4O?
Our model-based fair value for Plan Optik AG is €1.16 (as of Nov 9, 2026), built from audited fundamentals. The current price: €7.64.
What is the quality score of P4O?
Plan Optik AG has a Quality Score of 39/100. 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 price target for Plan Optik AG (P4O)?
Our model-based price target is the fair value of €1.16 (as of Nov 9, 2026) from 6 valuation models. Cautious scenario €0.8700, optimistic scenario €1.24. It is a calculation from audited fundamentals, not an analyst target.
What is the Plan Optik AG stock forecast for 2026?
Our models put fair value at €1.16, about 85% lower versus a price of €7.64 (overvalued). Cautious scenario €0.8700, optimistic scenario €1.24. The calculation is refreshed regularly with new filings.
What is the revenue of Plan Optik AG (P4O)?
Plan Optik AG reported trailing-twelve-month revenue of about €11.6M (latest available figure, as of Nov 9, 2026).
What is the intrinsic value of Plan Optik AG (P4O)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Plan Optik AG it is €1.16 per share (as of Nov 9, 2026), against a price of €7.64. It is the blended result of 6 valuation models in 4 families (Earnings-Based, Multiples, Asset-Based, Economic Profit).
Is Plan Optik AG stock overvalued or undervalued in 2026?
As of Nov 9, 2026, P4O trades above its calculated fair value: price €7.64, fair value €1.16, a gap of about −85% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of P4O?
No. The price is what the market pays today (€7.64); the fair value is what the company's own numbers justify (€1.16). For Plan Optik AG the two are €6.48 per share apart. That gap is exactly why we show both numbers side by side.
How much is Plan Optik AG worth?
The market values Plan Optik AG at about €34.5M (market capitalisation, as of Nov 9, 2026). Per share that is €7.64; our models calculate a fair value of €1.16 per share.
What do the bullish and bearish scenarios say about P4O?
Our models span a range for Plan Optik AG: cautious scenario €0.8700, base €1.16, optimistic €1.24 per share (as of Nov 9, 2026, price €7.64). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of P4O?
Plan Optik AG trades at a price-to-earnings ratio of 382.0 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €1.16 is built from several models across several years. Other multiples: P/B 2.7, P/S 3.0, EV/EBITDA 48.3.
How solid is the balance sheet of Plan Optik AG (P4O)?
Balance-sheet figures for Plan Optik AG (as of Nov 9, 2026): return on equity 0.6%, debt of 0.08 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is P4O from its 52-week high?
Plan Optik AG trades at €7.64, about 48% below its 52-week high of €14.60 and 92% above the low of €3.98 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €1.16 is for.
Which stocks are comparable to Plan Optik AG?
From the same area (Technology) we also value Keysight Technologies, Inc, Garmin Ltd, Coherent Corp, Teledyne Technologies Incorporated, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Plan Optik AG stock attractive at the current price?
The data as of Nov 9, 2026: price €7.64, calculated fair value €1.16 (−85%), Quality Score 39/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of P4O calculated?
We run Plan Optik AG through 6 models from 4 families: Earnings-Based, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of €1.16 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Plan Optik AG itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Plan Optik AG (P4O)?
The closing price on Nov 6, 2026 was €7.64. Our model-based fair value is €1.16, about 85% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Plan Optik AG right now?
The price sits above even our optimistic bull case (€1.24). The favourable scenario is already priced in. Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of Plan Optik AG (P4O) come from?
Earnings per share at Plan Optik AG grew +28.0 % a year from 2015 to 2025. Broken into its drivers: revenue per share +5.6 %, EBIT margin +16.7 %, tax rate +0.1 %, residual (interest, one-offs) +3.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Plan Optik AG

How large is the market capitalisation of Plan Optik AG (P4O)?
The market capitalisation of Plan Optik AG is €34.5M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Plan Optik AG (P4O)?
The price-to-sales ratio of Plan Optik AG is 2.97 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Plan Optik AG (P4O)?
Earnings per share at Plan Optik AG are €0.0200 (price ÷ EPS = P/E 382.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Plan Optik AG (P4O)?
The net margin of Plan Optik AG is 0.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Plan Optik AG (P4O)?
The return on equity (ROE) of Plan Optik AG is 0.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Plan Optik AG (P4O)?
On an EBIT basis the return on assets of Plan Optik AG is 11.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Plan Optik AG (P4O)?
The operating margin of Plan Optik AG is 3.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Plan Optik AG (P4O)?
Revenue at Plan Optik AG is growing +5.7% versus a year earlier (3y avg −0.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Plan Optik AG (P4O)?
Earnings per share at Plan Optik AG are growing −53.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Plan Optik AG (P4O) generate?
The free cash flow of Plan Optik AG is −€1.3M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Plan Optik AG (P4O) carry?
The net debt of Plan Optik AG is €591K (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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