There (VHO) fair value: what the stock is really worth
As of Sep 17, 2026: fair value of There €5.73, price €7.30, upside -21.5%, quality 55 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 Sep 27, 2026.
How to read this chart
60‑month range €5.21 – €7.80 · fair‑value band €4.30 – €7.17 · the €7.30 price screens above the €5.73 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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There (VHO) currently trades at €7.30, while our model-based Fair Value estimate is €5.73, 21.5% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of €23.63 per share, and 6 of the 13 models we run sit above the €7.30 price.
Bear case: the Economic Profit group reads lowest at €4.26, and 7 of the 13 models stay below the price. Evidence for this calculation is low.
Scenario range: €4.30 (bear) to €7.17 (bull), the price of €7.30 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 55/100 (solid quality), in the Other sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
There reported revenue of €4.7M in FY2025 versus €6.6M in FY2021, a compound −8.1%/yr. Reported net income was €1.2M in FY2025, compounding −17.4%/yr from FY2021.
Key figures
Market cap €16.1M · P/E ratio 20.3 · P/S ratio 5.19 · EPS (TTM) €0.3600 · Dividend yield 1.4% · Net margin 25.6% · Return on equity 7.7% · Return on assets (EBIT) 7.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 5% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Other peers we cover trades at 49% fair-value upside, at −22%, VHO screens richer than that median.
Fair Value models
Bear €4.30Fair Value €5.73Bull €7.17
Price €7.30 · Upside -21.5%
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 (€0.1973 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.47/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−8.7%
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.
+16.5%
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.
+7.3%
Start year 2020 (pandemic)
Revenue growth 9 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.
+49.1%
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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. Basis: EBIT basis.
+25.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.5%
Dividend (yield on the price)1.4%
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.8% → 19%
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.Other · 102 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside−21.5% · Below median
Profitability
Return on equity (TTM)7.7% · Top 25%
Return on assets3.5% · Top 25%
Net margin (TTM)25.6% · Top 25%
Operating margin (TTM)19.1% · Top 25%
Growth and dividend
Revenue growth0.0% · Top 25%
Dividend yield (TTM)1.4% · Above median
Valuation Multiplesvs Other 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). "There Fair Value". https://www.fairvalue-calculator.com/stock/VHO
Frequently asked questions
Is There (VHO) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of €5.73 versus the last price from Sep 17, 2026 of €7.30, about −22% upside (overvalued).
What is the fair value of VHO?
Our model-based fair value for There is €5.73 (as of Sep 27, 2026), built from audited fundamentals. Last price (from Sep 17, 2026): €7.30.
What is the quality score of VHO?
There has a Quality Score of 55/100. 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 There (VHO)?
Our model-based price target is the fair value of €5.73 (as of Sep 27, 2026) from 13 valuation models. Cautious scenario €4.30, optimistic scenario €7.17. It is a calculation from audited fundamentals, not an analyst target.
What is the There stock forecast for 2026?
Our models put fair value at €5.73, about −22% upside versus the last price from Sep 17, 2026 of €7.30 (overvalued). Cautious scenario €4.30, optimistic scenario €7.17. The calculation is refreshed regularly with new filings.
What is the revenue of There (VHO)?
There reported trailing-twelve-month revenue of about €4.7M (latest available figure, as of Sep 27, 2026).
Does There pay a dividend?
There currently shows a dividend yield of about 1.37% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of There (VHO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For There it is €5.73 per share (as of Sep 27, 2026), against a price of €7.30. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is There stock overvalued or undervalued in 2026?
As of Sep 27, 2026, VHO trades above its calculated fair value: price €7.30, fair value €5.73, a gap of about −22% (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 VHO?
No. The price is what the market pays today (€7.30); the fair value is what the company's own numbers justify (€5.73). For There the two are €1.57 per share apart. That gap is exactly why we show both numbers side by side.
How much is There worth?
The market values There at about €16.1M (market capitalisation, as of Sep 27, 2026). Per share that is €7.30; our models calculate a fair value of €5.73 per share.
What do the bullish and bearish scenarios say about VHO?
Our models span a range for There: cautious scenario €4.30, base €5.73, optimistic €7.17 per share (as of Sep 27, 2026, price €7.30). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VHO?
There trades at a price-to-earnings ratio of 20.3 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €5.73 is built from several models across several years. Other multiples: P/B 1.1, P/S 3.8, EV/EBITDA 17.8.
How solid is the balance sheet of There (VHO)?
Balance-sheet figures for There (as of Sep 27, 2026): return on equity 7.7%. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is VHO from its 52-week high?
There trades at €7.30, about 6% below its 52-week high of €7.80 and 5% above the low of €6.95 (as of Sep 17, 2026). Distance from the high says nothing about value: that is what the fair value of €5.73 is for.
Which stocks are comparable to There?
From the same area (Other) we also value Navient Corporation, 542772, Newtek Business Services Corp, 532468, 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 There stock attractive at the current price?
The data as of Sep 27, 2026: price €7.30, calculated fair value €5.73 (−22%), Quality Score 55/100, 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 VHO calculated?
We run There 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 €5.73, 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 15.0 % above its aggregate fair value. There 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 There (VHO)?
The latest price we hold is from Sep 17, 2026 and stands at €7.30. Our model-based fair value is €5.73, about −22% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with There right now?
Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of There
How large is the market capitalisation of There (VHO)?
The market capitalisation of There is €16.1M. 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 There (VHO)?
The price-to-sales ratio of There is 5.19 (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 There (VHO)?
Earnings per share at There are €0.3600 (price ÷ EPS = P/E 20.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of There (VHO)?
The dividend yield of There is 1.4% (payout 27.8%). 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 There (VHO)?
The net margin of There is 25.6% (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 There (VHO)?
The return on equity (ROE) of There is 7.7% (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 There (VHO)?
On an EBIT basis the return on assets of There is 7.3% (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 There (VHO)?
The operating margin of There is 19.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much net debt does There (VHO) carry?
The net debt of There is €24.0K (fiscal year 2020). 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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