Valora Effekten Handel AG (VEH) Fair Value & Analysis
Financial Services · DE · Market cap €1.7M
Strengths
Risks
Fair value as of: Aug 20, 2026
From 10 valuation models · updated yesterday
Share price −21.4% over the past month.
A solid business, but screening 38% overvalued on our models.
What matters now
- A high-quality business (quality 71/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (€0.5600). The favourable scenario is already priced in.
- The models converge in a tight band (€0.5300 to €0.5600), unusually little disagreement for a valuation.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.
How to read this chart
60‑month range €0.8000 – €1.61 · fair‑value band €0.5300 – €0.5600 · the €0.8800 price screens above the €0.5500 fair value. Dashed = 300-day average. As of Aug 20, 2026.
Analysis
Valora Effekten Handel AG (VEH) currently trades at €0.8800, while our model-based Fair Value estimate is €0.5500, implying the stock looks roughly 37.5% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Valora Effekten Handel AG generated revenue of €733K at a net margin of -27.7%. Revenue declined 48.4% year over year. It earns a return on equity of -16.2%. Fundamentals as of Aug 20, 2026
Our scenario range runs from €0.5300 (bear case) to €0.5600 (bull case); at €0.8800, 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 23% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -19% fair-value upside, at -38%, VEH screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 10 models by family
Widest divergence: Growth DCF (€1.38) versus Earnings-Based (€0.3700). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 73 · Market factors (momentum, volatility) 32
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.
About the company
Valora Effekten Handel AG operates as a securities trading company in Germany. The company engages in the trading of unlisted shares and securities; and the securities trading after delisting and block trade.
Full company description
Valora Effekten Handel AG operates as a securities trading company in Germany. The company engages in the trading of unlisted shares and securities; and the securities trading after delisting and block trade. The company also supports creation of securities and investment prospectus, and offers to purchase securities and fund shares; and creates WP brochures, WIB, and VIB. Valora Effekten Handel AG was founded in 1977 and is headquartered in Ettlingen, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Valora Effekten Handel AG reported revenue of €1.2M in FY2025 versus €896K in FY2021, a compound +8.3%/yr. Reported net income was €59.2K in FY2025.
VEH screens 38% overvalued. Compare with Mirae Asset Securities Co →
Peer Group
Capital Markets · 434 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.
Valuation Multiples vs Capital Markets median · lower = cheaper
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.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Mirae Asset Securities Co 006800 | 38,050 KRW | 18,009 KRW | -53% |
| Meritz Financial Group 138040 | 118,600 KRW | 52,717 KRW | -56% |
| Korea Investment Holdings 071050 | 200,500 KRW | 189,335 KRW | -6% |
| NH Investment & Securities Co 005940 | 28,550 KRW | 22,396 KRW | -22% |
| Samsung Securities Co 016360 | 93,100 KRW | 75,573 KRW | -19% |
| Kiwoom Securities Co 039490 | 299,000 KRW | 214,812 KRW | -28% |
| SSI Securities Corporation SSI | 19,400 VND | 17,375 VND | -10% |
| Bolsas y Mercados Argentinos S.A BYMA | 313.75 ARS | 294.30 ARS | -6% |
| Daishin Securities Co 003540 | 26,950 KRW | 48,790 KRW | +81% |
| SK Securities Co 001515 | 4,285 KRW | 1,395 KRW | -67% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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