United Internet AG (UDIRY) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of United Internet AG $41.52, price $27.21, upside +52.6%, quality 54 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 24, 2026.
How to read this chart
18‑month range $17.33 – $34.41 · fair‑value band $28.78 – $59.37 · the $27.21 price screens below the $41.52 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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United Internet AG, through its subsidiaries, operates as an Internet service provider worldwide. The company operates through Consumer Access, Business Access, Consumer Applications, and Business Applications segments.
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United Internet AG, through its subsidiaries, operates as an Internet service provider worldwide. The company operates through Consumer Access, Business Access, Consumer Applications, and Business Applications segments. It offers landline-based broadband and mobile internet products, including home networks, online storage, smart home, and IPTV for private users; and telecommunication products ranging from fiber-optic direct connections to tailored ICT solutions, which include voice, data, and network solutions, as well as infrastructure services to national and international carriers and ISPs. The company also provides applications and services for home users, such as personal information management applications comprising email, to-do lists, appointments, and addresses; and online cloud storage and office software. In addition, it provides business applications for freelancers and small to medium enterprises, such as domains, websites, web hosting, servers, e-shops, group work, online cloud storage, and office software, as well as cloud solutions and infrastructure. It offers its access products through the yourfone, smartmobile.de, 1&1, and 1&1 Versatel brand names; and applications through GMX, mail.com, WEB.DE, home.pl, Arsys, STRATO, IONOS, Fasthosts, we22, InterNetX, united-domains, and World4You brand names. In addition, the company offers professional services in the fields of active domain management; performance-based advertising and sales services under the Sedo brand name; online advertising services under the United Internet Media brand name; and white-label website builder services under the we22 brand, as well as sells IT hardware. The company was founded in 1988 and is headquartered in Montabaur, Germany.
Stock analysis
United Internet AG (UDIRY) currently trades at $27.21, while our model-based Fair Value estimate is $41.52, implying the stock looks roughly 34.5% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $41.21 per share, and 16 of the 22 models we run sit above the $27.21 price.
Bear case: the Earnings-Based group reads lowest at $20.40, and 6 of the 22 models stay below the price. Evidence for this calculation is high.
Scenario range: $28.78 (bear) to $59.37 (bull), the price of $27.21 sits below 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 54/100 (solid quality), in the Communication Services sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
United Internet AG reported revenue of €6.1B in FY2025 versus €5.6B in FY2021, a compound +2.0%/yr. Reported net income was €285M in FY2025, compounding −9.1%/yr from FY2021.
Key figures
Market cap $6.0B · P/E ratio 18.9 · P/S ratio 0.88 · EPS (TTM) $1.75 · Dividend yield 6.5% · Net margin 4.7% · Return on equity 7.1% · Return on assets (EBIT) 7.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 21% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 36% fair-value upside, at 53%, UDIRY screens cheaper than that median.
Fair Value models
Bear $28.78Fair Value $41.52Bull $59.37
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 ($0.9452 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.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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+1.7%
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.
+1.1%
’21
’22
’23
’24
’25
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.
+0.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.9%
Dividend (yield on the price)6.5%
Profit margin 2021 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% → 12%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what 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).
+0.8%
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.
+3.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −1.4% a year for the price and +0.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (10 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.
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.Telecom Services · 237 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside+16.4% · Above median
Profitability
Return on equity (TTM)7.1% · Below median
Return on assets3.2% · Below median
Net margin (TTM)4.8% · Below median
Operating margin (TTM)10.8% · Below median
Growth and dividend
Revenue growth2.1% · Below median
Dividend yield (TTM)6.5% · Top 25%
Balance sheet
Debt / equity0.43× · Above median
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/E (TTM)18.9× · Pricier than median
P/B1.14× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
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). "United Internet AG Fair Value". https://www.fairvalue-calculator.com/stock/UDIRY
Frequently asked questions
Is United Internet AG (UDIRY) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $41.52 versus the last price from Sep 25, 2026 of $27.21, about +53% upside (undervalued).
What is the fair value of UDIRY?
Our model-based fair value for United Internet AG is $41.52 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $27.21.
What is the quality score of UDIRY?
United Internet AG has a Quality Score of 54/100. 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 United Internet AG (UDIRY)?
Our model-based price target is the fair value of $41.52 (as of Sep 24, 2026) from 22 valuation models. Cautious scenario $28.78, optimistic scenario $59.37. It is a calculation from audited fundamentals, not an analyst target.
What is the United Internet AG stock forecast for 2026?
Our models put fair value at $41.52, about +53% upside versus the last price from Sep 25, 2026 of $27.21 (undervalued). Cautious scenario $28.78, optimistic scenario $59.37. The calculation is refreshed regularly with new filings.
What is the revenue of United Internet AG (UDIRY)?
United Internet AG reported trailing-twelve-month revenue of about €6.2B (latest available figure, as of Sep 24, 2026).
Does United Internet AG pay a dividend?
United Internet AG currently shows a dividend yield of about 6.47% relative to its recent price (as of Sep 24, 2026).
What growth is priced into United Internet AG (UDIRY)?
For today's price to be fair in a discounted-cash-flow model, United Internet AG would have to grow free cash flow by +0.8 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +2.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of UDIRY use?
Our models discount United Internet AG at 8.5 %: a base by market capitalisation (mid), damped by beta 0.47, country premium for USA. 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 United Internet AG that is +0.8 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has United Internet AG (UDIRY) delivered so far?
Over the past 4 years revenue at United Internet AG grew +2.0 % a year. The price currently implies +0.8 % 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 United Internet AG (UDIRY) growing?
The median revenue growth in the sector is +3.0 % a year. That is the yardstick for the growth priced into United Internet AG (+0.8 % 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 United Internet AG (UDIRY)?
The free-cash-flow yield on the price is 12.11 %: that much free cash flow United Internet AG produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of United Internet AG (UDIRY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For United Internet AG it is $41.52 per share (as of Sep 24, 2026), against a price of $27.21. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is United Internet AG stock overvalued or undervalued in 2026?
As of Sep 24, 2026, UDIRY trades below its calculated fair value: price $27.21, fair value $41.52, a gap of about +53% (undervalued). 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 UDIRY?
No. The price is what the market pays today ($27.21); the fair value is what the company's own numbers justify ($41.52). For United Internet AG the two are $14.31 per share apart. That gap is exactly why we show both numbers side by side.
How much is United Internet AG worth?
The market values United Internet AG at about $6.0B (market capitalisation, as of Sep 24, 2026). Per share that is $27.21; our models calculate a fair value of $41.52 per share.
What do the bullish and bearish scenarios say about UDIRY?
Our models span a range for United Internet AG: cautious scenario $28.78, base $41.52, optimistic $59.37 per share (as of Sep 24, 2026, price $27.21). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of UDIRY?
United Internet AG trades at a price-to-earnings ratio of 18.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $41.52 is built from several models across several years. Other multiples: P/B 1.1, P/S 0.9, EV/EBITDA 7.1.
How solid is the balance sheet of United Internet AG (UDIRY)?
Balance-sheet figures for United Internet AG (as of Sep 24, 2026): return on equity 7.1%, debt of 0.43 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is UDIRY from its 52-week high?
United Internet AG trades at $27.21, about 21% below its 52-week high of $34.41 and at the low of $27.21 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of $41.52 is for.
Which stocks are comparable to United Internet AG?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, 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 United Internet AG stock attractive at the current price?
The data as of Sep 24, 2026: price $27.21, calculated fair value $41.52 (+53%), Quality Score 54/100, from 22 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 UDIRY calculated?
We run United Internet AG through 22 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 $41.52, 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 14.5 % above its aggregate fair value. United Internet AG currently trades 34 % 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 United Internet AG (UDIRY)?
The latest price we hold is from Sep 25, 2026 and stands at $27.21. Our model-based fair value is $41.52, about +53% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with United Internet AG right now?
The price is below even our cautious bear case ($28.78). The market is more pessimistic than our downside scenario. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($28.78 to $59.37) leaves room in how you read the outcome.
Key figures of United Internet AG
How large is the market capitalisation of United Internet AG (UDIRY)?
The market capitalisation of United Internet AG is $6.0B. 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 United Internet AG (UDIRY)?
The price-to-sales ratio of United Internet AG is 0.88 (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 United Internet AG (UDIRY)?
Earnings per share at United Internet AG are $1.75 (price ÷ EPS = P/E 18.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of United Internet AG (UDIRY)?
The dividend yield of United Internet AG is 6.5% (payout 101%). 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 United Internet AG (UDIRY)?
The net margin of United Internet AG is 4.7% (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 United Internet AG (UDIRY)?
The return on equity (ROE) of United Internet AG is 7.1% (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 United Internet AG (UDIRY)?
On an EBIT basis the return on assets of United Internet AG is 7.6% (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 United Internet AG (UDIRY)?
The operating margin of United Internet AG is 10.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at United Internet AG (UDIRY)?
Revenue at United Internet AG is growing +2.1% versus a year earlier (3y avg +1.1%). 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 United Internet AG (UDIRY)?
Earnings per share at United Internet AG are growing +12.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does United Internet AG (UDIRY) carry?
The net debt of United Internet AG is €3.2B (fiscal year 2025, ≈ 6.3 yrs of FCF). 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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Broad data
Sep 24, 2026