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Villeroy & Boch AG (VIB3) Fair Value & Analysis

Industrials · DE · Market cap €419M

VB Villeroy & Boch AG VIB3 · XETRA
Price€15.45
Fair Value€12.08
Upside-21.8%
Quality50/100
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Healthy Growth
Thin margins · 0.8% net margin
Moderate debt · generates free cash flow
5.38% dividend yield
Trails peers (3/11)
Narrow moat 31/100
Evidence: High Range €9.06 – €15.10 Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 24 days ago

Fair value updated Jul 16, 2026, revised from €11.85 to €12.08 (+1.9%) since Jul 5, 2026. Share price −1.0% over the past month.

A solid business, but screening 22% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€15.10). The favourable scenario is already priced in.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

€18.67 €10.41 Fair Value €12.08 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range €10.41 – €18.67 · fair‑value band €9.06 – €15.10 · the €15.45 price screens above the €12.08 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Villeroy & Boch AG (VIB3) currently trades at €15.45, while our model-based Fair Value estimate is €12.08, implying the stock looks roughly 21.8% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Industrials 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, Villeroy & Boch AG generated revenue of €1.4B at a net margin of 0.8%. Revenue declined 13.7% year over year. It earns a return on equity of 3.1%. Net debt stands at €354M. Fundamentals as of Jul 16, 2026

Our scenario range runs from €9.06 (bear case) to €15.10 (bull case); at €15.45, 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 18% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -33% fair-value upside, at -22%, VIB3 screens cheaper 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €23.05 €33.30 €45.77 80
Residual Income €9.63 €9.52 €8.17 76
Rev-Margin DCF €16.09 €26.44 €38.08 74
All 26 models by family
DCF Models
FCF DCF €22.70 €34.26 €49.10 38
Owner Earnings €11.63 €18.80 €28.01 31
5Y Revenue Exit €16.09 €26.04 €38.23 39
5Y EBITDA Exit €28.50 €48.67 €71.60 41
5Y P/E Exit €10.15 €15.23 €20.18 38
10Y Revenue Exit €18.09 €27.15 €38.37 36
10Y EBITDA Exit €25.73 €41.30 €61.08 37
10Y P/E Exit €15.14 €20.38 €26.08 35
Earnings-Based
Graham-Dodd €3.73 €10.20 €13.38 54
Lynch FV €2.02 €2.88 €3.75 50
PEG = 1.0 €2.02 €2.88 €3.75 46
EPV €7.24 €9.10 €10.66 59
Dividend Discount
Gordon GGM €6.76 €12.19 €16.78 70
DDM Multi-Stage €6.76 €9.98 €12.93 61
Multiples
P/E Multiple €9.06 €12.08 €15.10 63
P/S Multiple €7.00 €9.34 €11.67 58
P/B Multiple €7.00 €9.34 €11.67 55
EV/EBIT €21.89 €31.34 €40.79 53
EV/EBITDA €37.90 €52.68 €67.47 54
EV/Revenue €12.65 €20.84 €29.03 43
Asset-Based
NCAV (Graham) €6.77 €9.07 €13.54 50
Growth DCF
Growth DCF €23.05 €33.30 €45.77 80
Rev-Margin DCF €16.09 €26.44 €38.08 74
Economic Profit
Residual Income €9.63 €9.52 €8.17 76
ROIC Compounder €7.24 €9.10 €10.66 72
Growth Earnings
Growth-Adj P/E €7.15 €10.21 €13.27 68

Widest divergence: Growth DCF (€26.44) versus Earnings-Based (€2.88). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €1.4B
Revenue growth (YoY) -13.7%
Net margin 0.8%
Return on equity 3.1%
Free cash flow €85.6M FY2025
P/E ratio 1.1
More key figures
Operating margin 3.6%
EPS (TTM) €14.58
Dividend yield 5.2%
EPS growth (YoY) +586%
Net debt €354M FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 49 · Market factors (momentum, volatility) 40

Profitability 38
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 23
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 24
Distance to the 52-week high (market factor)
Net Issuance 75
Buybacks instead of dilution

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

Villeroy & Boch AG, together with its subsidiaries, engages in the manufacture and sale of ceramic products under the Villeroy & Boch brand in Germany. It operates through two divisions, Bathroom & Wellness, and Dining & Lifestyle.

Full company description

Villeroy & Boch AG, together with its subsidiaries, engages in the manufacture and sale of ceramic products under the Villeroy & Boch brand in Germany. It operates through two divisions, Bathroom & Wellness, and Dining & Lifestyle. The company offers ceramic bathroom collections, ceramic kitchen sinks, fittings, bathroom furniture, showers, bathtubs, pipe connectors, installation systems, and matching accessories; and porcelain, glass and cutlery, as well as home accessories and gifts. It also provides tiles, lighting, carpets for indoor and outdoor use; bathroom and kitchen textiles; and blankets and cushions. The company sells its products through point of sales and digital channels, as well as retailers, tradespeople, architects, and project developers. Villeroy & Boch AG was founded in 1748 and is headquartered in Mettlach, Germany.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Villeroy & Boch AG reported revenue of €1.4B in FY2025 versus €945M in FY2021, a compound +11.2%/yr. Reported net income was €14.7M in FY2025, compounding −29.7%/yr from FY2021.

Growth Quality 82/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€1.4B
Latest YoY
+1.8%
Avg. growth/yr (3Y)
+13.3%
Avg. growth/yr (5Y)
+12.6%
Avg. growth/yr (17Y)
+3.2%
Revenue +11.2%/yr
FY21 €945M
FY22 €995M
FY23 €902M
FY24 €1.4B
FY25 €1.4B
Net income −29.7%/yr
FY21 €60.2M
FY22 €71.2M
FY23 €60.7M
FY24 €5.9M
FY25 €14.7M

VIB3 screens 22% overvalued. Compare with Trane Technologies plc →

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Cite: Fair Value Calculator (2026). "Villeroy & Boch AG Fair Value". https://www.fairvalue-calculator.com/stock/VIB3

Peer Group

Building Products & Equipment · 247 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.

Quality Score 50 · Below median
Fair Value upside −22% · Above median
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth -14% · Bottom 25%
Dividend yield (TTM) 5.4% · Top 25%
Debt / equity 0.75× · Higher than 75% of peers

Valuation Multiples vs Building Products & Equipment median · lower = cheaper

P/E (TTM) 1.1× · Cheaper than 75% of peers
P/FCF 5.7× · Pricier than median

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 4 · sector 4
FUTURE 0 · sector 9
PAST 12 · sector 23
HEALTH 62 · sector 94
DIVIDEND 100 · sector 28

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Building Products & Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Trane Technologies plc TT $469.98 $212.34 -55%
Johnson Controls International plc JCI $142.81 $45.65 -68%
Carrier Global Corporation CARR $68.61 $17.35 -75%
Compagnie de Saint-Gobain S.A SGO €76.62 €101.60 +33%
Geberit AG GEBN CHF 523.20 CHF 307.66 -41%
Lennox International Inc LII $543.93 $363.09 -33%
Kingspan Group KRX €87.30 €70.76 -19%
Masco Corporation MAS $78.04 $54.36 -30%
PT Impack Pratama Industri Tbk, IMPC 1,420 IDR 179.76 IDR -87%
NIBE Industrier AB NIBEB kr 36.03 kr 25.37 -30%

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Frequently asked questions

Is Villeroy & Boch AG (VIB3) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of €12.08 versus a price of €15.45, about −22% (overvalued).
What is the fair value of VIB3?
Our model-based fair value for Villeroy & Boch AG is €12.08 (as of Jul 16, 2026), built from audited fundamentals. The current price is €15.45.
What is the quality score of VIB3?
Villeroy & Boch AG has a Quality Score of 50/100. 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 revenue of Villeroy & Boch AG (VIB3)?
Villeroy & Boch AG reported trailing-twelve-month revenue of about €1.4B (latest available figure, as of Jul 16, 2026).
What is the net profit margin of VIB3?
The net profit margin of Villeroy & Boch AG is about 0.8%, meaning it keeps roughly 0.8% of revenue as net income. Based on the latest reported figures.
Does Villeroy & Boch AG pay a dividend?
Villeroy & Boch AG currently shows a dividend yield of about 5.18% relative to its recent price (as of Jul 16, 2026).

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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