VIB Vermögen AG (VIH1) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of VIB Vermögen AG €11.00, price €3.88, upside +183.5%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range €3.88 – €49.69 · fair‑value band €2.48 – €18.78 · the €3.88 price screens below the €11.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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VIB Vermögen AG, engages in the development, acquisition, and management of commercial real estate properties in Germany. It operates through Commercial Portfolio and Institutional Business segments. The company's portfolio includes properties in logistics, light industrial, and office asset classes.
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VIB Vermögen AG, engages in the development, acquisition, and management of commercial real estate properties in Germany. It operates through Commercial Portfolio and Institutional Business segments. The company's portfolio includes properties in logistics, light industrial, and office asset classes. It also provides property management services and solutions for institutional investors. VIB Vermögen AG was founded in 1993 and is based in Neuburg an der Donau, Germany.
Stock analysis
VIB Vermögen AG (VIH1) currently trades at €3.88, while our model-based Fair Value estimate is €11.00, implying the stock looks roughly 64.7% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of €22.34 per share, and 11 of the 15 models we run sit above the €3.88 price.
Bear case: the Growth DCF group reads lowest at €2.73, and 4 of the 15 models stay below the price. Evidence for this calculation is high.
Scenario range: €2.48 (bear) to €18.78 (bull), the price of €3.88 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 52/100 (solid quality), in the Real Estate sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
VIB Vermögen AG reported revenue of €166M in FY2025 versus €103M in FY2021, a compound +12.7%/yr. Reported net income was €81.4M in FY2025, compounding +28.5%/yr from FY2021.
Key figures
Market cap €247M · P/E ratio 1.6 · P/S ratio 0.78 · EPS (TTM) €2.46 · Dividend yield 1.0% · Net margin 49.2% · Return on equity 8.7% · Return on assets (EBIT) 1.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 66% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −37% fair-value upside, at 184%, VIH1 screens cheaper than that median.
Fair Value models
Bear €2.48Fair Value €11.00Bull €18.78
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 (€1.78 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.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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+48.3%
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.
+14.6%
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.
+11.9%
Start year 2020 (pandemic). Over 10 years: +8.2% a year
Revenue growth 20 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.
+14.9%
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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.
+2.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.5%
Dividend (yield on the price)1.0%
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.2% vs 5%, 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.76% → 29%
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.Real Estate Services · 547 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside+164% · Top 25%
Profitability
Return on equity (TTM)9% · Above median
Return on assets1% · Below median
Net margin (TTM)65% · Top 25%
Operating margin (TTM)43% · Above median
Growth and dividend
Revenue growth12% · Above median
Dividend yield (TTM)1.0% · Bottom 25%
Balance sheet
Debt / equity0.84× · Above median
Valuation Multiplesvs Real Estate Services 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). "VIB Vermögen AG Fair Value". https://www.fairvalue-calculator.com/stock/VIH1
Frequently asked questions
Is VIB Vermögen AG (VIH1) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €11.00 versus a price of €3.88, about +184% upside (undervalued).
What is the fair value of VIH1?
Our model-based fair value for VIB Vermögen AG is €11.00 (as of Sep 23, 2026), built from audited fundamentals. The current price: €3.88.
What is the quality score of VIH1?
VIB Vermögen AG has a Quality Score of 52/100. 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 VIB Vermögen AG (VIH1)?
Our model-based price target is the fair value of €11.00 (as of Sep 23, 2026) from 16 valuation models. Cautious scenario €2.48, optimistic scenario €18.78. It is a calculation from audited fundamentals, not an analyst target.
What is the VIB Vermögen AG stock forecast for 2026?
Our models put fair value at €11.00, about +184% upside versus a price of €3.88 (undervalued). Cautious scenario €2.48, optimistic scenario €18.78. The calculation is refreshed regularly with new filings.
What is the revenue of VIB Vermögen AG (VIH1)?
VIB Vermögen AG reported trailing-twelve-month revenue of about €125M (latest available figure, as of Sep 23, 2026).
Does VIB Vermögen AG pay a dividend?
VIB Vermögen AG currently shows a dividend yield of about 1.03% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of VIB Vermögen AG (VIH1)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For VIB Vermögen AG it is €11.00 per share (as of Sep 23, 2026), against a price of €3.88. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is VIB Vermögen AG stock overvalued or undervalued in 2026?
As of Sep 23, 2026, VIH1 trades below its calculated fair value: price €3.88, fair value €11.00, a gap of about +184% (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 VIH1?
No. The price is what the market pays today (€3.88); the fair value is what the company's own numbers justify (€11.00). For VIB Vermögen AG the two are €7.12 per share apart. That gap is exactly why we show both numbers side by side.
How much is VIB Vermögen AG worth?
The market values VIB Vermögen AG at about €247M (market capitalisation, as of Sep 23, 2026). Per share that is €3.88; our models calculate a fair value of €11.00 per share.
What do the bullish and bearish scenarios say about VIH1?
Our models span a range for VIB Vermögen AG: cautious scenario €2.48, base €11.00, optimistic €18.78 per share (as of Sep 23, 2026, price €3.88). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VIH1?
VIB Vermögen AG trades at a price-to-earnings ratio of 1.6 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €11.00 is built from several models across several years. Other multiples: PEG 1.2, P/B 0.3, P/S 2.3, EV/EBITDA 12.4.
What is the PEG ratio of VIH1?
The PEG ratio of VIB Vermögen AG is 1.21 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of VIB Vermögen AG (VIH1)?
Balance-sheet figures for VIB Vermögen AG (as of Sep 23, 2026): return on equity 8.7%, debt of 0.84 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is VIH1 from its 52-week high?
VIB Vermögen AG trades at €3.88, about 66% below its 52-week high of €11.35 and at the low of €3.88 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €11.00 is for.
Which stocks are comparable to VIB Vermögen AG?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, Vonovia SE, Cellnex Telecom, S.A, 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 VIB Vermögen AG stock attractive at the current price?
The data as of Sep 23, 2026: price €3.88, calculated fair value €11.00 (+184%), Quality Score 52/100, from 16 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 VIH1 calculated?
We run VIB Vermögen AG through 16 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 €11.00, 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 13.0 % above its aggregate fair value. VIB Vermögen AG currently trades 184 % 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 VIB Vermögen AG (VIH1)?
The closing price on Sep 24, 2026 was €3.88. Our model-based fair value is €11.00, about +184% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with VIB Vermögen AG right now?
The model range is unusually wide (€2.48 to €18.78). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of VIB Vermögen AG (VIH1) come from?
Earnings per share at VIB Vermögen AG grew +9.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.3 %, EBIT margin −9.6 %, tax rate +0.9 %, residual (interest, one-offs) +14.6 %. 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 VIB Vermögen AG
How large is the market capitalisation of VIB Vermögen AG (VIH1)?
The market capitalisation of VIB Vermögen AG is €247M. 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 VIB Vermögen AG (VIH1)?
The price-to-sales ratio of VIB Vermögen AG is 0.78 (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 VIB Vermögen AG (VIH1)?
Earnings per share at VIB Vermögen AG are €2.46 (price ÷ EPS = P/E 1.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of VIB Vermögen AG (VIH1)?
The dividend yield of VIB Vermögen AG is 1.0% (payout 1.6%). 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 VIB Vermögen AG (VIH1)?
The net margin of VIB Vermögen AG is 49.2% (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 VIB Vermögen AG (VIH1)?
The return on equity (ROE) of VIB Vermögen AG is 8.7% (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 VIB Vermögen AG (VIH1)?
On an EBIT basis the return on assets of VIB Vermögen AG is 1.6% (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 VIB Vermögen AG (VIH1)?
The operating margin of VIB Vermögen AG is 43.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at VIB Vermögen AG (VIH1)?
Revenue at VIB Vermögen AG is growing +12.1% versus a year earlier (3y avg +14.6%). 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 VIB Vermögen AG (VIH1)?
Earnings per share at VIB Vermögen AG are growing +317% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does VIB Vermögen AG (VIH1) generate?
The free cash flow of VIB Vermögen AG is €65.4M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does VIB Vermögen AG (VIH1) carry?
The net debt of VIB Vermögen AG is €965M (fiscal year 2025, ≈ 14.7 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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