RATIONAL Aktiengesellschaft (RAA) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of RATIONAL Aktiengesellschaft stock €714, price €647, upside +10.4%, quality 77 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range €377.33 – €890.87 · fair‑value band €499.72 – €1,039 · the €646.50 price screens below the €713.90 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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RATIONAL engages in the development, production, and sale of cooking systems for industrial kitchens in Germany, Austria, Switzerland, United States, Canada, Mexico, China, Japan, and South Korea.
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The company offers iCombi Pro; iCombi Classic; combi ovens; iVario Pro, a multi-functional cooking system; The iHexagon; and ConnectedCooking, a digital kitchen management solution. It also provides accessories, care products, service parts, and services.
The company serves restaurants and hotels; catering, such as company canteens, hospitals, schools, universities, military facilities, prisons, and retirement homes; and quick service restaurants, caterers, supermarkets, bakeries, snack outlets, butchers' shops, service stations, and delivery services.
It sells its products through independent distribution partners. The company was founded in 1973 and is headquartered in Landsberg am Lech, Germany.
Stock analysis
RATIONAL Aktiengesellschaft (RAA) currently trades at €646.50, while our model-based Fair Value estimate is €713.90, so the stock looks roughly fairly valued today (gap 9.4%).
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Valuation
Bull case: the DCF Models group reads highest at a median of €372.76 per share, and 0 of the 26 models we run sit above the €646.50 price.
Bear case: the Economic Profit group reads lowest at €155.87, and 26 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: €499.72 (bear) to €1,039 (bull), the price of €646.50 sits inside 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 77/100 (high quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
RATIONAL Aktiengesellschaft reported revenue of €1.3B in FY2025 versus €780M in FY2021, a compound +12.7%/yr. Reported net income was €254M in FY2025, compounding +19.7%/yr from FY2021.
Key figures
Market cap €7.4B Mid · P/E ratio 27.6 · P/S ratio 5.68 · EPS (TTM) €23.40 · Dividend yield 3.1% · Net margin 20.5% · Return on equity 32.2% · Return on assets (EBIT) 26.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 85 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 16% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −47% fair-value upside, at 10%, RAA screens cheaper than that median.
Fair Value models
Bear€499.72Fair Value €713.90Bull€1,039
Price €646.50 · Upside +10.4%
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 (€2.89 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.
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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.5%
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.
+7.2%
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.
+14.2%
Start year 2020 (pandemic). Over 10 years: +8.4% a year
Revenue growth 23 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.
+8.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+18.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.5%
Dividend (yield on the price)3.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.15.5% vs 7.6%, picking up
Profit margin 2020 to 2025 ⓘ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.16% → 26%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+17.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +15.3% a year for the price and +4.5% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (39 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: The company's main strength lies in its niche leadership with robust pricing power and resilient margins, while its main weak point remains the thin evidence of a durable moat and uncertain growth sustainability.
Main risk: Named competitors such as Electrolux Professional with its SkyLine ovens or Alto-Shaam from Middleby could offer comparable intelligent combi systems or full-kitchen bundles that win customers and force price concessions on RATIONAL's premium equipment.
Bull case: RATIONAL could strengthen its ecosystem with ConnectedCooking and iCookingSuite intelligence to lock in chains seeking standardization and labor savings, outpacing rivals on total cost of ownership.
Bear case: If rivals capture share with competitive automation or bundled solutions and tariffs persist without relief, RATIONAL might see slower volume growth and sustained margin pressure in key export markets.
Rational leads its niche in professional kitchen equipment with pricing power and margins that hold up better than most peers. Its valuation premium over broader industrials has narrowed sharply from the long-term average. Will the product edge and pricing strength support a return to steady 5-7 percent volume growth, or will tariff effects and weaker Asian demand keep expansion in check?
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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.Specialty Industrial Machinery · 807 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score77 · Top 25%
Fair Value upside+10.4% · Top 25%
Profitability
Return on equity (12 months)32.2% · Top 25%
Return on assets21.3% · Top 25%
Net margin (12 months)20.5% · Top 25%
Operating margin (12 months)24.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)4.2% · Below median
Dividend yield (12 months)3.1% · Top 25%
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
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.
Cite: Fair Value Calculator (2026). "RATIONAL Aktiengesellschaft Fair Value". https://www.fairvalue-calculator.com/stock/RAA
Frequently asked questions
Is RATIONAL Aktiengesellschaft (RAA) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of €713.90 versus a price of €646.50, about +10% upside (fairly valued).
What is the fair value of RAA?
Our model-based fair value for RATIONAL Aktiengesellschaft is €713.90 (as of Nov 5, 2026), built from audited fundamentals. The current price: €646.50.
What is the quality score of RAA?
RATIONAL Aktiengesellschaft has a Quality Score of 77/100. 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 RATIONAL Aktiengesellschaft (RAA)?
Our model-based price target is the fair value of €713.90 (as of Nov 5, 2026) from 26 valuation models. Cautious scenario €499.72, optimistic scenario €1,039. It is a calculation from audited fundamentals, not an analyst target.
What is the RATIONAL Aktiengesellschaft stock forecast for 2026?
Our models put fair value at €713.90, about +10% upside versus a price of €646.50 (fairly valued). Cautious scenario €499.72, optimistic scenario €1,039. The calculation is refreshed regularly with new filings.
What is the revenue of RATIONAL Aktiengesellschaft (RAA)?
RATIONAL Aktiengesellschaft reported trailing-twelve-month revenue of about €1.3B (latest available figure, as of Nov 5, 2026).
Does RATIONAL Aktiengesellschaft pay a dividend?
RATIONAL Aktiengesellschaft currently shows a dividend yield of 3.09% relative to its recent price (as of Nov 5, 2026).
What growth is priced into RATIONAL Aktiengesellschaft (RAA)?
For today's price to be fair in a discounted-cash-flow model, RATIONAL Aktiengesellschaft would have to grow free cash flow by +17.8 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.2 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of RAA use?
Our models discount RATIONAL Aktiengesellschaft at 10.1 %: a base by market capitalisation (mid), damped by beta 1.24, country premium for Germany. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For RATIONAL Aktiengesellschaft that is +17.8 % per year a year over ten years, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has RATIONAL Aktiengesellschaft (RAA) delivered so far?
Over the past 5 years revenue at RATIONAL Aktiengesellschaft grew +14.2 % a year. The price currently implies +17.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of RATIONAL Aktiengesellschaft (RAA) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into RATIONAL Aktiengesellschaft (+17.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of RATIONAL Aktiengesellschaft (RAA)?
The free-cash-flow yield on the price is 3.13 %: that much free cash flow RATIONAL Aktiengesellschaft produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of RATIONAL Aktiengesellschaft (RAA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For RATIONAL Aktiengesellschaft it is €713.90 per share (as of Nov 5, 2026), against a price of €646.50. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is RATIONAL Aktiengesellschaft stock overvalued or undervalued in 2026?
As of Nov 5, 2026, RAA trades below its calculated fair value: price €646.50, fair value €713.90, a gap of about +10% (fairly valued). 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 RAA?
No. The price is what the market pays today (€646.50); the fair value is what the company's own numbers justify (€713.90). For RATIONAL Aktiengesellschaft the two are €67.40 per share apart. That gap is exactly why we show both numbers side by side.
How much is RATIONAL Aktiengesellschaft worth?
The market values RATIONAL Aktiengesellschaft at about €7.4B (market capitalisation, as of Nov 5, 2026). Per share that is €646.50; our models calculate a fair value of €713.90 per share.
What do the bullish and bearish scenarios say about RAA?
Our models span a range for RATIONAL Aktiengesellschaft: cautious scenario €499.72, base €713.90, optimistic €1,039 per share (as of Nov 5, 2026, price €646.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of RAA?
RATIONAL Aktiengesellschaft trades at a price-to-earnings ratio of 27.6 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €713.90 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 37.7. Other multiples: PEG 2.6, P/B 7.8, P/S 5.7, EV/EBITDA 20.0.
What is the PEG ratio of RAA?
The PEG ratio of RATIONAL Aktiengesellschaft is 2.61 (P/E divided by earnings growth, as of Nov 5, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of RATIONAL Aktiengesellschaft (RAA)?
Balance-sheet figures for RATIONAL Aktiengesellschaft (as of Nov 5, 2026): return on equity 32.2%. They feed the Quality Score of 77/100, which measures business quality independently of the share price.
How far is RAA from its 52-week high?
RATIONAL Aktiengesellschaft trades at €646.50, about 14% below its 52-week high of €747.86 and 16% above the low of €557.00 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of €713.90 is for.
Which stocks are comparable to RATIONAL Aktiengesellschaft?
From the same area (Industrials) we also value SIE, GE Vernova Inc, Eaton Corporation, Parker-Hannifin Corporation, 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 RATIONAL Aktiengesellschaft stock attractive at the current price?
The data as of Nov 5, 2026: price €646.50, calculated fair value €713.90 (+10%), Quality Score 77/100, from 26 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 RAA calculated?
We run RATIONAL Aktiengesellschaft through 26 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 €713.90, 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 15.5% above its aggregate fair value. RATIONAL Aktiengesellschaft currently trades 9% below its own fair value, and the market average says nothing about that. 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 RATIONAL Aktiengesellschaft (RAA)?
The closing price on Nov 5, 2026 was €646.50. Our model-based fair value is €713.90, about +10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with RATIONAL Aktiengesellschaft right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (€499.72 to €1,039) leaves room in how you read the outcome.
Where does the earnings growth of RATIONAL Aktiengesellschaft (RAA) come from?
Earnings per share at RATIONAL Aktiengesellschaft grew +8.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.8 %, EBIT margin −0.8 %, tax rate −0.1 %, residual (interest, one-offs) +0.1 %. 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 RATIONAL Aktiengesellschaft
How large is the market capitalisation of RATIONAL Aktiengesellschaft (RAA)?
The market capitalisation of RATIONAL Aktiengesellschaft is €7.4B. 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 RATIONAL Aktiengesellschaft (RAA)?
The price-to-sales ratio of RATIONAL Aktiengesellschaft is 5.68 (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 RATIONAL Aktiengesellschaft (RAA)?
Earnings per share at RATIONAL Aktiengesellschaft are €23.40 (price ÷ EPS = P/E 27.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of RATIONAL Aktiengesellschaft (RAA)?
The dividend yield of RATIONAL Aktiengesellschaft is 3.1% (payout 85.5%). 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 RATIONAL Aktiengesellschaft (RAA)?
The net margin of RATIONAL Aktiengesellschaft is 20.5% (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 RATIONAL Aktiengesellschaft (RAA)?
The return on equity (ROE) of RATIONAL Aktiengesellschaft is 32.2% (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 RATIONAL Aktiengesellschaft (RAA)?
On an EBIT basis the return on assets of RATIONAL Aktiengesellschaft is 26.5% (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 RATIONAL Aktiengesellschaft (RAA)?
The operating margin of RATIONAL Aktiengesellschaft is 24.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at RATIONAL Aktiengesellschaft (RAA)?
Revenue at RATIONAL Aktiengesellschaft is growing +4.2% versus a year earlier (3y avg +7.2%). 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 RATIONAL Aktiengesellschaft (RAA)?
Earnings per share at RATIONAL Aktiengesellschaft are growing +15.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does RATIONAL Aktiengesellschaft (RAA) hold?
RATIONAL Aktiengesellschaft holds more cash than debt, €159M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 5, 2026