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Rcm Beteiligungs AG (RCMN) Fair Value & Analysis

Real Estate · DE · Market cap €12.1M · ISIN DE000A1RFMY4

What is Rcm Beteiligungs AG really worth?

RB Rcm Beteiligungs AG RCMN · XETRA
Price€1.05
Fair Value€0.2300
Upside−78.1%
Quality35/100

Below-average quality, and trading another 357% above our fair value of €0.2300.

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Risks

!Weak Growth (revenue 5y −31.7 %/yr)
!Loss-making · -26.7% net margin
!High debt · negative free cash flow
!Trails peers (0/11)
!Narrow moat 11/100
!Evidence only low, so the estimate is less certain
!Weak on balance sheet: 25 out of 100
Evidence: Low Range €0.2100 – €0.2600

Fair value as of: Aug 23, 2026

From 3 valuation models · updated 9 days ago

Share price −8.7% over the past month.

What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case (€0.2600). The favourable scenario is already priced in.
  • Weak quality (35/100) 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.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

€2.22 €0.9350 Fair Value €0.2300 Jun 2021 Aug 2026

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

How to read this chart

60‑month range €0.9350 – €2.22 · fair‑value band €0.2100 – €0.2600 · the €1.05 price screens above the €0.2300 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

Rcm Beteiligungs AG (RCMN) currently trades at €1.05, while our model-based Fair Value estimate is €0.2300, implying the stock looks roughly 356.6% overvalued today. The Quality Score stands at 35/100 (below-average quality), in the Real Estate sector. Bull case: the Asset-Based group reads highest at a median of €0.4400 per share, and 0 of the 3 models we run sit above the €1.05 price. Bear case: the Dividend Discount group reads lowest at €0.1600, and 3 of the 3 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Rcm Beteiligungs AG generated revenue of €2.5M at a net margin of −26.7%. Revenue declined 61.0% year over year. It earns a return on equity of −3.9%. Net debt stands at €14.9M. Fundamentals as of Aug 23, 2026

Our scenario range runs from €0.2100 (bear case) to €0.2600 (bull case); at €1.05, 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 34% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −19% fair-value upside, at −78%, RCMN screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
Highest evidence
Gordon GGM best evidence €0.1500 €0.1600 €0.1700 69
DDM Multi-Stage €0.1500 €0.1700 €0.2100 67
NCAV (Graham) €0.3300 €0.4400 €0.6600 54
All 3 models by family
Dividend Discount
Gordon GGM best evidence €0.1500 €0.1600 €0.1700 69
DDM Multi-Stage €0.1500 €0.1700 €0.2100 67
Asset-Based
NCAV (Graham) €0.3300 €0.4400 €0.6600 54

Widest divergence: Asset-Based (€0.4400) versus Dividend Discount (€0.1600). Highest evidence: Gordon GGM (69).

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Key figures & financial health

P/S ratio 4.79 TTM
EPS (TTM) €−0.0600
Dividend yield 2.0%
Net margin −30.0% FY2025
Return on equity −3.9% TTM
Return on assets (EBIT) 0.3% avg 5y
More key figures
Profitability
Operating margin −63.1% TTM
Growth
Revenue (TTM) €2.5M TTM
Revenue growth (YoY) −61.0% 3y avg −34.6%
EPS growth (YoY) +40.9%
Balance sheet & cash flow
Free cash flow −€6.1M FY2025
Net debt €14.9M FY2025

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 35/100

Of which business quality 35 · Market factors (momentum, volatility) 41

Profitability 5
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 18
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 71
Buybacks instead of dilution

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

RCM Beteiligungs AG is a public investment firm specializing in real estate. The firm seeks to invest in residential real estate. RCM Beteiligungs AG was founded in 1999 and is headquartered in Sindelfingen, Germany.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Rcm Beteiligungs AG reported revenue of €2.5M in FY2025 versus €3.6M in FY2021, a compound −8.4%/yr. Reported net income was −€750K in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€2.5M
Latest YoY
−58.2%
Avg. revenue growth/yr (3Y) 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.
−34.6%
Avg. revenue growth/yr (5Y) 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.
−31.7%
Avg. revenue growth/yr (21Y) 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.
+5.5%
Value creation/yr 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
Revenue −8.4%/yr
FY21 €3.6M
FY22 €9.0M
FY23 €2.6M
FY24 €6.0M
FY25 €2.5M
Net income
FY21 €2.5M
FY22 −€2.8M
FY23 −€2.2M
FY24 €1.9M
FY25 −€750K

RCMN screens 357% overvalued. Compare with Sun Hung Kai Properties Limited →

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Cite: Fair Value Calculator (2026). "Rcm Beteiligungs AG Fair Value". https://www.fairvalue-calculator.com/stock/RCMN

Peer Group

Real Estate - Development · 598 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.

Quality Score 36 · Bottom 25%
Fair Value upside −78% · Bottom 25%
Return on assets −2% · Bottom 25%
Net margin (TTM) −27% · Bottom 25%
Operating margin (TTM) −63% · Bottom 25%
Revenue growth −61% · Bottom 25%
Dividend yield (TTM) 2.0% · Below median
Debt / equity 1.51× · Higher than 75% of peers

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/B 1.65× · Pricier than 75% of peers
P/S (TTM) 5.56× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 47
FUTURE0 · sector 0
PAST0 · sector 9
HEALTH25 · sector 85
DIVIDEND40 · sector 55

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.

None of the checked exposures detected

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
Sun Hung Kai Properties Limited 80016 HK$109.70 HK$88.93 −19%
China Resources Land Limited 1109 HK$35.24 HK$72.16 +105%
Vinhomes Joint Stock Company VHM 71,700 VND 109,431 VND +53%
CK Asset Holdings 1113 HK$46.12 HK$68.85 +49%
Hongkong Land Holdings H78 $8.20 $1.52 −81%
DLF Limited DLF ₹667.10 ₹170.24 −74%
China Overseas Land & Investment Limited 0688 HK$13.76 HK$22.92 +67%
Macrotech Developers Limited LODHA ₹1,244 ₹583.42 −53%
Sino Land Company 0083 HK$10.33 HK$6.99 −32%
PT Pantai Indah Kapuk Dua Tbk, PANI 5,925 IDR 1,325 IDR −78%

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Frequently asked questions

Is Rcm Beteiligungs AG (RCMN) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of €0.2300 versus a price of €1.05, about −78% upside (overvalued).
What is the fair value of RCMN?
Our model-based fair value for Rcm Beteiligungs AG is €0.2300 (as of Aug 23, 2026), built from audited fundamentals. The current price: €1.05.
What is the quality score of RCMN?
Rcm Beteiligungs AG has a Quality Score of 35/100. 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 revenue of Rcm Beteiligungs AG (RCMN)?
Rcm Beteiligungs AG reported trailing-twelve-month revenue of about €2.5M (latest available figure, as of Aug 23, 2026).
What is the net profit margin of RCMN?
The net profit margin of Rcm Beteiligungs AG is about −26.7%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Rcm Beteiligungs AG pay a dividend?
Rcm Beteiligungs AG currently shows a dividend yield of about 1.98% relative to its recent price (as of Aug 23, 2026).
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