EN DE
Check 35,000+ stocks against 26 valuation models and 37 quality factors
Data-driven stock valuation

PNE AG (PNE3) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of PNE AG €1.39, price €7.23, upside -80.8%, quality 29 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Utilities · DE · ISIN DE000A0JBPG2

PA Thin data Sep 23, 2026

PNE AG

PNE3 · XETRA

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

Weakest SetupStrongly overvalued and low quality.

!Fair value €1.39 · Strongly overvalued (−81%)
!Quality 29/100
!Mixed Growth (revenue 5y +16.0 %/yr)
!Loss-making · -14.2% net margin (TTM)
!High debt · negative free cash flow
!Trails peers (3/13)
!Narrow moat 18/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 15 out of 100
Watch PNE AG for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card. Watch for free Pro now: $1 first month

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

€23.61 €6.69 Fair Value €1.39 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range €6.69 – €23.61 · fair‑value band €0.7000 – €1.39 · the €7.23 price screens above the €1.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

Follow PNE in your weekly email

Every Wednesday you see whether PNE is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

Company profile

PNE AG engages in the planning, construction, and operation of wind farms and transformer stations in Germany and internationally. The company operates in three segments: Project Development, Power Generation, and Service Products.

Show more

PNE AG engages in the planning, construction, and operation of wind farms and transformer stations in Germany and internationally. The company operates in three segments: Project Development, Power Generation, and Service Products. It is involved in the development and sale of onshore and offshore wind energy; photovoltaics (PV), providing hybrid solutions for wind, PV, battery, and hydrogen storage; technical and commercial management; construction management and grid connection; financial services; technical tests; and energy supply services. The company was formerly known as PNE WIND AG and changed its name to PNE AG in June 2018. PNE AG was founded in 1995 and is based in Cuxhaven, Germany.

Stock analysis

PNE AG (PNE3) currently trades at €7.23, while our model-based Fair Value estimate is €1.39, implying the stock looks roughly 420.0% overvalued today.

Show more

Valuation

Bull case: the Multiples group reads highest at a median of €1.56 per share, and 0 of the 4 models we run sit above the €7.23 price.

Bear case: the Dividend Discount group reads lowest at €1.04, and 4 of the 4 models stay below the price. Evidence for this calculation is low.

Scenario range: €0.7000 (bear) to €1.39 (bull), the price of €7.23 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 29/100 (below-average quality), in the Utilities sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

PNE AG reported revenue of €230M in FY2025 versus €118M in FY2021, a compound +18.3%/yr. Reported net income was −€43.1M in FY2025.

Key figures

Market cap €821M · P/S ratio 3.18 · EPS (TTM) €−0.3700 · Dividend yield 0.8% · Net margin −18.7% · Return on equity −24.1% · Return on assets (EBIT) 1.4% · Operating margin −0.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).

What moves the price

The share trades about 45% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −34% fair-value upside, at −81%, PNE3 screens richer than that median.

Fair Value models

Bear €0.7000 Fair Value €1.39 Bull €1.39
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence ⓘEvidence = 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.
Highest evidence
Gordon GGM €0.6300 €1.13 €1.56 68
DDM Multi-Stage €0.6300 €1.04 €1.21 67
EV/EBITDA n/a €1.56 €3.71 62
All 4 models by family
Dividend Discount
Gordon GGM €0.6300 €1.13 €1.56 68
DDM Multi-Stage €0.6300 €1.04 €1.21 67
Multiples
EV/EBITDA n/a €1.56 €3.71 62
Asset-Based
NCAV (Graham) €1.02 €1.36 €2.03 54

Open the full fair value analysis →

Notify me when PNE3 reaches fair value

Put PNE3 on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.

Set up alert →

Quality Score breakdown

Overall quality 29/100

Of which business quality 27 · Market factors (momentum, volatility) 28

Profitability 4
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 15
Earnings quality: real cash, not paper profit
Fin. Strength 6
Balance sheet, leverage, solvency risk
Investment 51
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 81
Share count: buybacks or dilution?

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. 30/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+9.4%
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.
+22.2%
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.
+16.0%
Start year 2020 (pandemic). Over 10 years: +7.7% a year
Revenue growth 27 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.
+30.2%
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.
7.4% (2020) → 9.6% (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

PNE3 screens 420% overvalued. Compare with China Yangtze Power Co →

Compare PNE AG with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

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.Utilities - Renewable · 210 stocks

Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside −81% · Bottom 25%
Profitability
Return on assets 3% · Above median
Net margin (TTM) −14% · Bottom 25%
Operating margin (TTM) −1% · Bottom 25%
Growth and dividend
Revenue growth 101% · Top 25%
Dividend yield (TTM) 0.8% · Bottom 25%
Balance sheet
Debt / equity 3.97× · Highest 25%

Valuation Multiplesvs Utilities - Renewable median · lower = cheaper

P/B 6.00× · Priciest 25%
P/S (TTM) 3.62× · Pricier than median
EV/EBITDA 18.4× · Priciest 25%
PEG 0.48× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 13
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)0 · sector 14
HEALTH (low debt)0 · sector 68
DIVIDEND (yield)15 · sector 47

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 Utilities - Renewable stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥28.08 ¥30.89 +10%
Ørsted A/S ORSTED kr 142.20 kr 31.40 −78%
Huaneng Lancang River Hydropower Inc 600025 ¥9.62 ¥4.45 −54%
Adani Green Energy Limited ADANIGREEN ₹1,301 ₹169.61 −87%
VERBUND AG VER €62.10 €56.60 −9%
BEP BEP $29.78 $70.40 +136%
Fortum Oyj FORTUM €23.56 €14.06 −40%
SDIC Power Holdings 600886 ¥14.30 ¥17.08 +19%
China Three Gorges Renewables (Group) Co 600905 ¥3.64 ¥2.40 −34%
EDP Renewables, S.A EDPR €13.22 €3.67 −72%

Explore undervalued stocks

More undervalued Utilities stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names ⭐ Top Rated 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Calculator with industry benchmark Peter Lynch Fair Value Formula &…Calculator with industry benchmark
Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

PNE AG · Fair Value
€1.39 −420%Fair Value
Calculator →

Cite: Fair Value Calculator (2026). "PNE AG Fair Value". https://www.fairvalue-calculator.com/stock/PNE3

Frequently asked questions

Is PNE AG (PNE3) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €1.39 versus a price of €7.23, about −81% upside (overvalued).
What is the fair value of PNE3?
Our model-based fair value for PNE AG is €1.39 (as of Sep 23, 2026), built from audited fundamentals. The current price: €7.23.
What is the quality score of PNE3?
PNE AG has a Quality Score of 29/100. 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 PNE AG (PNE3)?
Our model-based price target is the fair value of €1.39 (as of Sep 23, 2026) from 4 valuation models. Cautious scenario €0.7000, optimistic scenario €1.39. It is a calculation from audited fundamentals, not an analyst target.
What is the PNE AG stock forecast for 2026?
Our models put fair value at €1.39, about −81% upside versus a price of €7.23 (overvalued). Cautious scenario €0.7000, optimistic scenario €1.39. The calculation is refreshed regularly with new filings.
What is the revenue of PNE AG (PNE3)?
PNE AG reported trailing-twelve-month revenue of about €259M (latest available figure, as of Sep 23, 2026).
Does PNE AG pay a dividend?
PNE AG currently shows a dividend yield of about 0.76% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of PNE AG (PNE3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PNE AG it is €1.39 per share (as of Sep 23, 2026), against a price of €7.23. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is PNE AG stock overvalued or undervalued in 2026?
As of Sep 23, 2026, PNE3 trades above its calculated fair value: price €7.23, fair value €1.39, a gap of about −81% (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 PNE3?
No. The price is what the market pays today (€7.23); the fair value is what the company's own numbers justify (€1.39). For PNE AG the two are €5.84 per share apart. That gap is exactly why we show both numbers side by side.
How much is PNE AG worth?
The market values PNE AG at about €821M (market capitalisation, as of Sep 23, 2026). Per share that is €7.23; our models calculate a fair value of €1.39 per share.
What do the bullish and bearish scenarios say about PNE3?
Our models span a range for PNE AG: cautious scenario €0.7000, base €1.39, optimistic €1.39 per share (as of Sep 23, 2026, price €7.23). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of PNE3?
The PEG ratio of PNE AG is 0.48 (P/E divided by earnings growth, as of Sep 23, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of PNE AG (PNE3)?
Balance-sheet figures for PNE AG (as of Sep 23, 2026): return on equity −24.1%, debt of 3.97 per unit of equity. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is PNE3 from its 52-week high?
PNE AG trades at €7.23, about 45% below its 52-week high of €13.19 and 3% above the low of €7.03 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of €1.39 is for.
Which stocks are comparable to PNE AG?
From the same area (Utilities) we also value China Yangtze Power Co, Ørsted A/S, Huaneng Lancang River Hydropower Inc, Adani Green Energy Limited, 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 PNE AG stock attractive at the current price?
The data as of Sep 23, 2026: price €7.23, calculated fair value €1.39 (−81%), Quality Score 29/100, from 4 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 PNE3 calculated?
We run PNE AG through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €1.39, 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 14.1 % above its aggregate fair value. PNE 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 PNE AG (PNE3)?
The closing price on Sep 23, 2026 was €7.23. Our model-based fair value is €1.39, about −81% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PNE AG right now?
The price sits above even our optimistic bull case (€1.39). The favourable scenario is already priced in. Weak quality (29/100) 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. A fairly wide model range (€0.7000 to €1.39) leaves room in how you read the outcome.

Key figures of PNE AG

How large is the market capitalisation of PNE AG (PNE3)?
The market capitalisation of PNE AG is €821M. 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 PNE AG (PNE3)?
The price-to-sales ratio of PNE AG is 3.18 (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 PNE AG (PNE3)?
Earnings per share at PNE AG are €−0.3700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of PNE AG (PNE3)?
The dividend yield of PNE AG is 0.8%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of PNE AG (PNE3)?
The net margin of PNE AG is −18.7% (fiscal year 2025). 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 PNE AG (PNE3)?
The return on equity (ROE) of PNE AG is −24.1% (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 PNE AG (PNE3)?
On an EBIT basis the return on assets of PNE AG is 1.4% (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 PNE AG (PNE3)?
The operating margin of PNE AG is −0.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PNE AG (PNE3)?
Revenue at PNE AG is growing +101% versus a year earlier (3y avg +22.2%). 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 PNE AG (PNE3)?
Earnings per share at PNE AG are growing +130% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PNE AG (PNE3) generate?
The free cash flow of PNE AG is −€154M (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 PNE AG (PNE3) carry?
The net debt of PNE AG is €731M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed

Watch PNE AG in the live analysis

One click puts PNE AG on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.