Valora Effekten Handel AG (VEH) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Valora Effekten Handel AG €1.00, price €0.80, upside +25.0%, quality 73 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range €0.7000 – €1.61 · fair‑value band €0.5300 – €1.37 · the €0.8000 price screens below the €1.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
Follow Valora Effekten Handel in your weekly email
Every Wednesday you see whether Valora Effekten Handel is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
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.
Show more
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.
Stock analysis
Valora Effekten Handel AG (VEH) currently trades at €0.8000, while our model-based Fair Value estimate is €1.00, implying the stock looks roughly 20.0% undervalued today.
Show more
Valuation
Bull case: the Growth DCF group reads highest at a median of €1.52 per share, and 5 of the 10 models we run sit above the €0.8000 price.
Bear case: the Earnings-Based group reads lowest at €0.3700, and 5 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: €0.5300 (bear) to €1.37 (bull), the price of €0.8000 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 73/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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.
Key figures
Market cap €1.4M · P/S ratio 1.89 · EPS (TTM) €−0.1200 · Net margin 4.8% · Return on equity −16.2% · Return on assets (EBIT) −10.8% · Operating margin −18.9% · Revenue (TTM) €733K.
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 30% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at 25%, VEH screens cheaper than that median.
Fair Value models
Bear €0.5300Fair Value €1.00Bull €1.37
Price €0.8000 · Upside +25.0%
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.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.70/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+69.0%
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.
+21.4%
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.
+5.6%
Start year 2020 (pandemic). Over 10 years: +4.9% 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.
+4.1%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘ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.
−4.9% (2020) → 4.7% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−24.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −25.8% a year for the price.
Compare Valora Effekten Handel AG with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Capital Markets · 459 stocks
Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score73 · Top 25%
Fair Value upside+25.0% · Above median
Profitability
Return on assets−10.9% · Bottom 25%
Net margin (TTM)−27.7% · Bottom 25%
Operating margin (TTM)−18.9% · Bottom 25%
Growth and dividend
Revenue growth−48.4% · Bottom 25%
Balance sheet
Debt / equity0.06× · Below median
Valuation Multiplesvs Capital Markets median · lower = cheaper
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). "Valora Effekten Handel AG Fair Value". https://www.fairvalue-calculator.com/stock/VEH
Frequently asked questions
Is Valora Effekten Handel AG (VEH) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of €1.00 versus a price of €0.8000, about +25% upside (undervalued).
What is the fair value of VEH?
Our model-based fair value for Valora Effekten Handel AG is €1.00 (as of Oct 3, 2026), built from audited fundamentals. The current price: €0.8000.
What is the quality score of VEH?
Valora Effekten Handel AG has a Quality Score of 73/100. 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 Valora Effekten Handel AG (VEH)?
Our model-based price target is the fair value of €1.00 (as of Oct 3, 2026) from 10 valuation models. Cautious scenario €0.5300, optimistic scenario €1.37. It is a calculation from audited fundamentals, not an analyst target.
What is the Valora Effekten Handel AG stock forecast for 2026?
Our models put fair value at €1.00, about +25% upside versus a price of €0.8000 (undervalued). Cautious scenario €0.5300, optimistic scenario €1.37. The calculation is refreshed regularly with new filings.
What is the revenue of Valora Effekten Handel AG (VEH)?
Valora Effekten Handel AG reported trailing-twelve-month revenue of about €733K (latest available figure, as of Oct 3, 2026).
What growth is priced into Valora Effekten Handel AG (VEH)?
For today's price to be fair in a discounted-cash-flow model, Valora Effekten Handel AG would have to grow free cash flow by -24.2 % 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 +5.7 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of VEH use?
Our models discount Valora Effekten Handel AG at 8.3 %: a base by market capitalisation (nano), damped by beta 0.00, 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 Valora Effekten Handel AG that is -24.2 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Valora Effekten Handel AG (VEH) delivered so far?
Over the past 5 years revenue at Valora Effekten Handel AG grew +5.7 % a year. The price currently implies -24.2 % 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 Valora Effekten Handel AG (VEH) growing?
The median revenue growth in the sector is +9.3 % a year. That is the yardstick for the growth priced into Valora Effekten Handel AG (-24.2 % 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 Valora Effekten Handel AG (VEH)?
The free-cash-flow yield on the price is 29.51 %: that much free cash flow Valora Effekten Handel 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 Valora Effekten Handel AG (VEH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Valora Effekten Handel AG it is €1.00 per share (as of Oct 3, 2026), against a price of €0.8000. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Valora Effekten Handel AG stock overvalued or undervalued in 2026?
As of Oct 3, 2026, VEH trades below its calculated fair value: price €0.8000, fair value €1.00, a gap of about +25% (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 VEH?
No. The price is what the market pays today (€0.8000); the fair value is what the company's own numbers justify (€1.00). For Valora Effekten Handel AG the two are €0.2000 per share apart. That gap is exactly why we show both numbers side by side.
How much is Valora Effekten Handel AG worth?
The market values Valora Effekten Handel AG at about €1.4M (market capitalisation, as of Oct 3, 2026). Per share that is €0.8000; our models calculate a fair value of €1.00 per share.
What do the bullish and bearish scenarios say about VEH?
Our models span a range for Valora Effekten Handel AG: cautious scenario €0.5300, base €1.00, optimistic €1.37 per share (as of Oct 3, 2026, price €0.8000). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Valora Effekten Handel AG (VEH)?
Balance-sheet figures for Valora Effekten Handel AG (as of Oct 3, 2026): return on equity −16.2%, debt of 0.06 per unit of equity. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is VEH from its 52-week high?
Valora Effekten Handel AG trades at €0.8000, about 30% below its 52-week high of €1.15 and 14% above the low of €0.7000 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €1.00 is for.
Which stocks are comparable to Valora Effekten Handel AG?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 Valora Effekten Handel AG stock attractive at the current price?
The data as of Oct 3, 2026: price €0.8000, calculated fair value €1.00 (+25%), Quality Score 73/100, from 10 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 VEH calculated?
We run Valora Effekten Handel AG through 10 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 €1.00, 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 15.1 % above its aggregate fair value. Valora Effekten Handel AG currently trades 20 % 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 Valora Effekten Handel AG (VEH)?
The closing price on Oct 2, 2026 was €0.8000. Our model-based fair value is €1.00, about +25% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Valora Effekten Handel AG right now?
The rarer combination: high quality (73/100) AND below fair value. That earns a closer look rather than a quick verdict. A fairly wide model range (€0.5300 to €1.37) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Valora Effekten Handel AG
How large is the market capitalisation of Valora Effekten Handel AG (VEH)?
The market capitalisation of Valora Effekten Handel AG is €1.4M. 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 Valora Effekten Handel AG (VEH)?
The price-to-sales ratio of Valora Effekten Handel AG is 1.89 (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 Valora Effekten Handel AG (VEH)?
Earnings per share at Valora Effekten Handel AG are €−0.1200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Valora Effekten Handel AG (VEH)?
The net margin of Valora Effekten Handel AG is 4.8% (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 Valora Effekten Handel AG (VEH)?
The return on equity (ROE) of Valora Effekten Handel AG is −16.2% (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 Valora Effekten Handel AG (VEH)?
On an EBIT basis the return on assets of Valora Effekten Handel AG is −10.8% (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 Valora Effekten Handel AG (VEH)?
The operating margin of Valora Effekten Handel AG is −18.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Valora Effekten Handel AG (VEH)?
Revenue at Valora Effekten Handel AG is growing −48.4% versus a year earlier (3y avg +21.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Valora Effekten Handel AG (VEH) carry?
The net debt of Valora Effekten Handel AG is €68.2K (fiscal year 2022, ≈ 0.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Valora Effekten Handel AG in the live analysis
One click puts Valora Effekten Handel AG on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
