United Internet AG (UTDI) fair value: what the stock is really worth
As of Nov 10, 2026: fair value (intrinsic value) of United Internet AG stock €26.54, price €24.56, upside +8.1%, quality 51 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range €10.99 – €30.67 · fair‑value band €17.12 – €34.51 · the €24.56 price screens below the €26.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 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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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 (UTDI) currently trades at €24.56, while our model-based Fair Value estimate is €26.54, so the stock looks roughly fairly valued today (gap 7.5%).
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Valuation
Bull case: the DCF Models group reads highest at a median of €32.89 per share, and 15 of the 24 models we run sit above the €24.56 price.
Bear case: the Earnings-Based group reads lowest at €13.43, and 9 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: €17.12 (bear) to €34.51 (bull), the price of €24.56 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 51/100 (solid quality), in the Communication Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
United Internet AG NA 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 €4.2B Mid · P/E ratio 15.1 · P/S ratio 0.68 · EPS (TTM) €1.63 · Dividend yield 2.0% · Net margin 5.0% · Return on equity 8.1% · Return on assets (EBIT) 6.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 50% fair-value upside, at 8%, UTDI screens richer than that median.
Fair Value models
Bear€17.12Fair Value €26.54Bull€34.51
Price €24.56 · Upside +8.1%
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 (€0.9721 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.52/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−3.3%
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%
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.
+2.7%
Start year 2020 (pandemic). Over 10 years: +5.1% a year
Revenue growth 25 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.
+14.8%
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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.
−3.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.0%
Dividend (yield on the price)2.0%
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.−5.0% vs −0.8%, slowing
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.11% → 9%
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).
+5.8%
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.
+2.7%
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 +3.6% a year for the price and +0.5% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (55 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: Modest advantages in telecom infrastructure offer some stability while weak profitability metrics and sparse intangibles data indicate a limited durable moat.
Main risk: Satellite providers acquiring spectrum to expand direct-to-device services could disrupt the mobile network buildout and constrain subscriber acquisition.
United Internet just raised its stake in 1&1 to 89.32 percent by contributing an internal loan receivable to a capital increase at the subsidiary. The step bolsters 1&1's equity and simplifies group financing while increasing exposure to the mobile network buildout. Our models continue to see the shares as undervalued. Does the tighter link to 1&1's rollout risks and rewards outweigh the gains from a cleaner internal capital structure?
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 · 250 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside+6.9% · Above median
Profitability
Return on equity (12 months)8.1% · Above median
Return on assets3.3% · Above median
Net margin (12 months)6.9% · Above median
Operating margin (12 months)11.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)3.7% · Below median
Dividend yield (12 months)2.0% · Below median
Balance sheet
Debt / equity0.43× · Above median
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/E (12 months)15.1× · Cheaper than median
P/B1.03× · 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.
P/S (12 months)1.07× · Cheaper than median
Price / free cash flow (fiscal year)18.1× · Pricier than median
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Cite: Fair Value Calculator (2026). "United Internet AG NA Fair Value". https://www.fairvalue-calculator.com/stock/UTDI
Frequently asked questions
Is United Internet AG (UTDI) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of €26.54 versus a price of €24.56, about +8% upside (fairly valued).
What is the fair value of UTDI?
Our model-based fair value for United Internet AG is €26.54 (as of Nov 9, 2026), built from audited fundamentals. The current price: €24.56.
What is the quality score of UTDI?
United Internet AG has a Quality Score of 51/100. 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 (UTDI)?
Our model-based price target is the fair value of €26.54 (as of Nov 9, 2026) from 24 valuation models. Cautious scenario €17.12, optimistic scenario €34.51. It is a calculation from audited fundamentals, not an analyst target.
What is the United Internet AG NA stock forecast for 2026?
Our models put fair value at €26.54, about +8% upside versus a price of €24.56 (fairly valued). Cautious scenario €17.12, optimistic scenario €34.51. The calculation is refreshed regularly with new filings.
What is the revenue of United Internet AG (UTDI)?
United Internet AG reported trailing-twelve-month revenue of about €6.2B (latest available figure, as of Nov 9, 2026).
Does United Internet AG NA pay a dividend?
United Internet AG currently shows a dividend yield of 2.04% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of United Internet AG (UTDI) and when is the ex-dividend date?
United Internet AG pays a dividend of €0.5 per share a year, a dividend yield of 2.0%. The last ex-dividend date was May 22, 2026. A dividend has been paid every year since 2010. The payout ratio is 41.1% of earnings (on adjusted earnings, reported 30.7%). Free cash flow covers the dividend 4.28 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into United Internet AG (UTDI)?
For today's price to be fair in a discounted-cash-flow model, United Internet AG would have to grow free cash flow by +5.8 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.7 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of UTDI use?
Our models discount United Internet AG at 8.3 %: a base by market capitalisation (mid), damped by beta 0.50, 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 United Internet AG that is +5.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has United Internet AG (UTDI) delivered so far?
Over the past 5 years revenue at United Internet AG grew +2.7 % a year. The price currently implies free-cash-flow growth of +5.8 % per 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 (UTDI) growing?
The median revenue growth in the sector is +3.7 % a year. That is the yardstick for the growth priced into United Internet AG (+5.8 % per 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 (UTDI)?
The free-cash-flow yield on the price is 8.71 %: that much free cash flow United Internet AG produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), 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 (UTDI)?
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 €26.54 per share (as of Nov 9, 2026), against a price of €24.56. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is United Internet AG NA stock overvalued or undervalued in 2026?
As of Nov 9, 2026, UTDI trades below its calculated fair value: price €24.56, fair value €26.54, a gap of about +8% (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 UTDI?
No. The price is what the market pays today (€24.56); the fair value is what the company's own numbers justify (€26.54). For United Internet AG the two are €1.98 per share apart. That gap is exactly why we show both numbers side by side.
How much is United Internet AG NA worth?
The market values United Internet AG at about €4.2B (market capitalisation, as of Nov 9, 2026). Per share that is €24.56; our models calculate a fair value of €26.54 per share.
What do the bullish and bearish scenarios say about UTDI?
Our models span a range for United Internet AG: cautious scenario €17.12, base €26.54, optimistic €34.51 per share (as of Nov 9, 2026, price €24.56). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of UTDI?
United Internet AG trades at a price-to-earnings ratio of 15.1 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €26.54 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 20.0 (reported for FY2025: 14.9). Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 17.7. Other multiples: PEG 1.6, P/B 1.0, P/S 1.1, EV/EBITDA 8.9.
What is the PEG ratio of UTDI?
The PEG ratio of United Internet AG is 1.59 (P/E divided by earnings growth, as of Nov 9, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of United Internet AG (UTDI)?
Balance-sheet figures for United Internet AG (as of Nov 9, 2026): return on equity 8.1%, debt of 0.43 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is UTDI from its 52-week high?
United Internet AG trades at €24.56, about 16% below its 52-week high of €29.33 and 7% above the low of €22.86 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of €26.54 is for.
Which stocks are comparable to United Internet AG NA?
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 NA stock attractive at the current price?
The data as of Nov 9, 2026: price €24.56, calculated fair value €26.54 (+8%), Quality Score 51/100, from 24 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 UTDI calculated?
We run United Internet AG through 24 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €26.54 builds on their evidence-weighted average, 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 13.7% above its aggregate fair value. United Internet AG currently trades 7% 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 (UTDI)?
The closing price on Nov 10, 2026 was €24.56. Our model-based fair value is €26.54, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with United Internet AG NA right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (€17.12 to €34.51) leaves room in how you read the outcome.
Where does the earnings growth of United Internet AG (UTDI) come from?
Earnings per share at United Internet AG grew −1.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.0 %, EBIT margin −5.3 %, tax rate −1.1 %, residual (interest, one-offs) −2.2 %. 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 United Internet AG
How large is the market capitalisation of United Internet AG (UTDI)?
The market capitalisation of United Internet AG is €4.2B. 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 (UTDI)?
The price-to-sales ratio of United Internet AG is 0.68 (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 United Internet AG (UTDI)?
Earnings per share at United Internet AG are €1.63 (price ÷ EPS = P/E 15.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of United Internet AG (UTDI)?
The dividend yield of United Internet AG is 2.0% (payout 41.1%, on adjusted earnings, reported 30.7%). 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 (UTDI)?
The net margin of United Internet AG is 5.0% (last twelve months), excl. one-off gain FY2025 3.5%. 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 (UTDI)?
The return on equity (ROE) of United Internet AG is 8.1% (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 (UTDI)?
On an EBIT basis the return on assets of United Internet AG is 6.5% (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 United Internet AG (UTDI)?
The operating margin of United Internet AG is 11.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at United Internet AG (UTDI)?
Revenue at United Internet AG is growing +3.7% 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 (UTDI)?
Earnings per share at United Internet AG are growing +35.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does United Internet AG (UTDI) carry?
The net debt of United Internet AG is €4.5B (fiscal year 2025, ≈ 12.1 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
Nov 9, 2026