Südwestdeutsche Salzwerke AG (SSH) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Südwestdeutsche Salzwerke AG €28.17, price €63.00, upside -55.3%, quality 53 out of 100. 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, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range €49.25 – €95.46 · fair‑value band €24.36 – €51.41 · the €63.00 price screens above the €28.17 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Südwestdeutsche Salzwerke AG, together with its subsidiaries, mines, produces, and sells salt in Germany, the European Union, and internationally. The company operates through Salt, Waste Management, and All Other segments.
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Südwestdeutsche Salzwerke AG, together with its subsidiaries, mines, produces, and sells salt in Germany, the European Union, and internationally. The company operates through Salt, Waste Management, and All Other segments. It offers sea salt under the Aquasale brand; food grade salt comprising evaporated table, cheese, pretzel, and compacted evaporated salt under the SALTA and JOSAL brands; nitrite pickling salt; feed salt and lick stones under the SALIT brand; and pharmaceutical salt, such as sodium chloride and granulated sodium chloride salt. The company also provides industrial salt for use in industrial and trade sectors, as well as electrolysis; water softening, pool, and dishwasher salt under the ALPOSAL, CLARAMAT, and KONTRAKALK brands; de-icing salt; and salt brine. In addition, it offers winter road maintenance equipment comprising silos and grit containers; and conditions, processed, and stores waste materials comprising flue gas cleaning residues, contaminated soils, construction waste, and salt processing residues. Further, the company provides logistics services that include inland waterway shipping, warehousing, and transport services; and financial support to start-ups, as well as operates mines and tourist facilities, which include Bad Friedrichshall and Berchtesgaden salt mines, as well as the salt museum in the old saltworks in Bad Reichenhall. It also offers its products online. The company was incorporated in 1971 and is headquartered in Heilbronn, Germany.
Stock analysis
Südwestdeutsche Salzwerke AG (SSH) currently trades at €63.00, while our model-based Fair Value estimate is €28.17, implying the stock looks roughly 123.7% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €54.37 per share, and 2 of the 13 models we run sit above the €63.00 price.
Bear case: the DCF Models group reads lowest at €7.95, and 11 of the 13 models stay below the price. Evidence for this calculation is high.
Scenario range: €24.36 (bear) to €51.41 (bull), the price of €63.00 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 53/100 (solid quality), in the Consumer Defensive sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Südwestdeutsche Salzwerke AG reported revenue of €344M in FY2025 versus €342M in FY2021, a compound +0.2%/yr. Reported net income was €33.6M in FY2025, compounding −7.1%/yr from FY2021.
Key figures
Market cap €662M · P/E ratio 13.9 · P/S ratio 1.36 · EPS (TTM) €4.52 · Dividend yield 3.0% · Net margin 9.8% · Return on equity 17.2% · Return on assets (EBIT) 9.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 11% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −3% fair-value upside, at −55%, SSH screens richer than that median.
Fair Value models
Bear €24.36Fair Value €28.17Bull €51.41
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€1.92 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.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.
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.50/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+1.9%
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.
+4.2%
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.
+6.4%
Start year 2020 (pandemic). Over 10 years: +3.0% a year
Revenue growth 12 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.
+0.9%
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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.
+8.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.5%
Dividend (yield on the price)3.0%
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.5% → 10%
Compare Südwestdeutsche Salzwerke AG with another stock
Price, fair value, quality and upside side by side.
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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.Packaged Foods · 666 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside−55% · Bottom 25%
Profitability
Return on equity (TTM)17% · Top 25%
Return on assets6% · Above median
Net margin (TTM)12% · Top 25%
Operating margin (TTM)15% · Top 25%
Growth and dividend
Revenue growth20% · Top 25%
Dividend yield (TTM)3.0% · Above median
Valuation Multiplesvs Packaged Foods median · lower = cheaper
P/E (TTM)13.9× · Cheaper than median
P/B2.67× · Priciest 25%
P/S (TTM)1.97× · Priciest 25%
EV/EBITDA9.5× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 30
FUTURE (revenue growth)100· sector 20
PAST (return on equity)69· sector 29
HEALTH (low debt)100· sector 96
DIVIDEND (yield)60· sector 58
VALUE 0: the price sits above our fair-value range.
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). "Südwestdeutsche Salzwerke AG Fair Value". https://www.fairvalue-calculator.com/stock/SSH
Frequently asked questions
Is Südwestdeutsche Salzwerke AG (SSH) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €28.17 versus a price of €63.00, about −55% upside (overvalued).
What is the fair value of SSH?
Our model-based fair value for Südwestdeutsche Salzwerke AG is €28.17 (as of Sep 23, 2026), built from audited fundamentals. The current price: €63.00.
What is the quality score of SSH?
Südwestdeutsche Salzwerke AG has a Quality Score of 53/100. 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 Südwestdeutsche Salzwerke AG (SSH)?
Our model-based price target is the fair value of €28.17 (as of Sep 23, 2026) from 13 valuation models. Cautious scenario €24.36, optimistic scenario €51.41. It is a calculation from audited fundamentals, not an analyst target.
What is the Südwestdeutsche Salzwerke AG stock forecast for 2026?
Our models put fair value at €28.17, about −55% upside versus a price of €63.00 (overvalued). Cautious scenario €24.36, optimistic scenario €51.41. The calculation is refreshed regularly with new filings.
What is the revenue of Südwestdeutsche Salzwerke AG (SSH)?
Südwestdeutsche Salzwerke AG reported trailing-twelve-month revenue of about €383M (latest available figure, as of Sep 23, 2026).
Does Südwestdeutsche Salzwerke AG pay a dividend?
Südwestdeutsche Salzwerke AG currently shows a dividend yield of about 3.02% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Südwestdeutsche Salzwerke AG (SSH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Südwestdeutsche Salzwerke AG it is €28.17 per share (as of Sep 23, 2026), against a price of €63.00. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Südwestdeutsche Salzwerke AG stock overvalued or undervalued in 2026?
As of Sep 23, 2026, SSH trades above its calculated fair value: price €63.00, fair value €28.17, a gap of about −55% (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 SSH?
No. The price is what the market pays today (€63.00); the fair value is what the company's own numbers justify (€28.17). For Südwestdeutsche Salzwerke AG the two are €34.83 per share apart. That gap is exactly why we show both numbers side by side.
How much is Südwestdeutsche Salzwerke AG worth?
The market values Südwestdeutsche Salzwerke AG at about €662M (market capitalisation, as of Sep 23, 2026). Per share that is €63.00; our models calculate a fair value of €28.17 per share.
What do the bullish and bearish scenarios say about SSH?
Our models span a range for Südwestdeutsche Salzwerke AG: cautious scenario €24.36, base €28.17, optimistic €51.41 per share (as of Sep 23, 2026, price €63.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SSH?
Südwestdeutsche Salzwerke AG trades at a price-to-earnings ratio of 13.9 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €28.17 is built from several models across several years. Other multiples: P/B 2.7, P/S 2.0, EV/EBITDA 9.5.
How solid is the balance sheet of Südwestdeutsche Salzwerke AG (SSH)?
Balance-sheet figures for Südwestdeutsche Salzwerke AG (as of Sep 23, 2026): return on equity 17.2%. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is SSH from its 52-week high?
Südwestdeutsche Salzwerke AG trades at €63.00, about 10% below its 52-week high of €70.31 and 11% above the low of €56.74 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €28.17 is for.
Which stocks are comparable to Südwestdeutsche Salzwerke AG?
From the same area (Consumer Defensive) we also value Nestlé S.A, Danone S.A, The Kraft Heinz Company, Foshan Haitian Flavouring and Food Company, 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 Südwestdeutsche Salzwerke AG stock attractive at the current price?
The data as of Sep 23, 2026: price €63.00, calculated fair value €28.17 (−55%), Quality Score 53/100, from 13 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 SSH calculated?
We run Südwestdeutsche Salzwerke AG through 13 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 €28.17, 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 13.0 % above its aggregate fair value. Südwestdeutsche Salzwerke 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 Südwestdeutsche Salzwerke AG (SSH)?
The closing price on Sep 24, 2026 was €63.00. Our model-based fair value is €28.17, about −55% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Südwestdeutsche Salzwerke AG right now?
The price sits above even our optimistic bull case (€51.41). The favourable scenario is already priced in. Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (€24.36 to €51.41) leaves room in how you read the outcome.
Key figures of Südwestdeutsche Salzwerke AG
How large is the market capitalisation of Südwestdeutsche Salzwerke AG (SSH)?
The market capitalisation of Südwestdeutsche Salzwerke AG is €662M. 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 Südwestdeutsche Salzwerke AG (SSH)?
The price-to-sales ratio of Südwestdeutsche Salzwerke AG is 1.36 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Südwestdeutsche Salzwerke AG (SSH)?
Earnings per share at Südwestdeutsche Salzwerke AG are €4.52 (price ÷ EPS = P/E 13.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Südwestdeutsche Salzwerke AG (SSH)?
The dividend yield of Südwestdeutsche Salzwerke AG is 3.0% (payout 42.0%). 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 Südwestdeutsche Salzwerke AG (SSH)?
The net margin of Südwestdeutsche Salzwerke AG is 9.8% (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 Südwestdeutsche Salzwerke AG (SSH)?
The return on equity (ROE) of Südwestdeutsche Salzwerke AG is 17.2% (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 Südwestdeutsche Salzwerke AG (SSH)?
On an EBIT basis the return on assets of Südwestdeutsche Salzwerke AG is 9.0% (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 Südwestdeutsche Salzwerke AG (SSH)?
The operating margin of Südwestdeutsche Salzwerke AG is 14.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Südwestdeutsche Salzwerke AG (SSH)?
Revenue at Südwestdeutsche Salzwerke AG is growing +20.3% versus a year earlier (3y avg +4.2%). 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 Südwestdeutsche Salzwerke AG (SSH)?
Earnings per share at Südwestdeutsche Salzwerke AG are growing +109% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Südwestdeutsche Salzwerke AG (SSH) generate?
The free cash flow of Südwestdeutsche Salzwerke AG is −€80.0K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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