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Wolftank Group (WAH) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Wolftank Group €12.61, price €3.46, upside +264.5%, quality 34 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Industrials · DE · Home Austria · ISIN AT0000A25NJ6

WG Some data Sep 24, 2026

Wolftank Group

WAH · XETRA

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value €12.61 · Strongly undervalued (+264.5%)
!Quality 34/100
!Mixed Growth (revenue 5y +28.5 %/yr)
!Loss-making · -2.3% net margin (TTM)
✓Moderate debt · generates free cash flow
!Narrow moat 15/100
!Evidence only medium, so the estimate is less certain

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€19.22 €3.42 Fair Value €12.61 Aug 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range €3.42 – €19.22 · fair‑value band €8.47 – €16.74 · the €3.46 price screens below the €12.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Wolftank Group AG, together with its subsidiaries, provides environmental remediation and refueling solutions for renewable energies worldwide. The company operates through two segments: Environmental Services and Hydrogen and Renewable Energies.

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Wolftank Group AG, together with its subsidiaries, provides environmental remediation and refueling solutions for renewable energies worldwide. The company operates through two segments: Environmental Services and Hydrogen and Renewable Energies. It provides environmental consultancy, environmental remediation projects for soil and groundwater, site decommissioning, waste treatment, and environmental emergency response services; waste and industrial water treatment services; and plastic collection and recovery systems. The company also offers structural and semi-structural coatings; epoxy resins; coating and lining products under the Adisa brand; DOPA lining system; DRK32 double-walled pipe systems; and maintenance services. In addition, it provides due diligence services for environmental risks, customized solutions for soil and groundwater remediation, recycling and recovery processes, and low emission infrastructure technologies. The company was formerly known as Wolftank-Adisa Holding AG and changed its name to Wolftank Group AG in August 2024. The company was founded in 1987 and is headquartered in Innsbruck, Austria.

Stock analysis

Wolftank Group (WAH) currently trades at €3.46, while our model-based Fair Value estimate is €12.61, implying the stock looks roughly 72.6% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of €25.05 per share, and 10 of the 15 models we run sit above the €3.46 price.

Bear case: the Asset-Based group reads lowest at €1.81, and 5 of the 15 models stay below the price. Evidence for this calculation is medium.

Scenario range: €8.47 (bear) to €16.74 (bull), the price of €3.46 sits below 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 34/100 (below-average quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Wolftank Group reported revenue of €123M in FY2025 versus €44.6M in FY2021, a compound +28.8%/yr. Reported net income was −€1.3M in FY2025.

Key figures

Market cap €18.3M · P/S ratio 0.16 · EPS (TTM) €−0.5300 · Net margin −1.1% · Return on equity −5.5% · Return on assets (EBIT) 0.2% · Operating margin −1.3% · Revenue (TTM) €123M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 41% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −18% fair-value upside, at 264%, WAH screens cheaper than that median.

Fair Value models

Bear €8.47 Fair Value €12.61 Bull €16.74
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.
Highest evidence
FCF DCF €16.77 €25.05 €50.84 74
EPV €2.67 €2.86 €3.03 74
Growth DCF €15.84 €28.85 €49.80 73
All 15 models by family
DCF Models
FCF DCF €16.77 €25.05 €50.84 74
5Y Revenue Exit €7.33 €9.63 €14.30 70
5Y EBITDA Exit €14.99 €25.12 €44.99 70
10Y Revenue Exit €10.18 €16.02 €18.31 66
10Y EBITDA Exit €15.73 €32.14 €60.41 62
Earnings-Based
EPV €2.67 €2.86 €3.03 74
Dividend Discount
Gordon GGM €1.16 €2.30 €3.49 64
DDM Multi-Stage €1.16 €1.99 €2.43 65
Multiples
EV/EBIT €4.10 €4.98 €5.87 66
EV/EBITDA €13.85 €17.99 €22.12 67
EV/Revenue €3.34 €4.15 €4.96 54
Asset-Based
NCAV (Graham) €1.35 €1.81 €2.70 54
Growth DCF
Growth DCF €15.84 €28.85 €49.80 73
Rev-Margin DCF €7.82 €10.85 €17.34 70
Economic Profit
ROIC Compounder €2.67 €3.11 €3.59 70

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Quality Score breakdown

Overall quality 34/100

Of which business quality 36 · Market factors (momentum, volatility) 26

Profitability 33
Margins and returns on capital today
Quality Growth 22
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 10
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 47
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+1.1%
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.
+25.1%
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.
+28.5%
Start year 2020 (pandemic)
Revenue growth 8 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.
+103.3%
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.
−5.8% (2020) → 0.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
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).
−6.0%
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 −8.0% a year for the price.

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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

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Mega Union Technology Inc 6944 775.00 TWD 852.50 TWD +10%
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China Conch Venture Holdings 0586 HK$7.58 HK$14.43 +90%
MayAir Technology (China) Co 688376 ¥55.97 ¥18.80 −66%
Zhongyuan Environmental Protection Co 000544 ¥7.23 ¥13.38 +85%
GVS S.p.A GVS €5.05 €1.74 −66%

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Wolftank Group · Fair Value
€12.61 +73%Fair Value
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Cite: Fair Value Calculator (2026). "Wolftank Group Fair Value". https://www.fairvalue-calculator.com/stock/WAH

Frequently asked questions

Is Wolftank Group (WAH) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €12.61 versus a price of €3.46, about +264% upside (undervalued).
What is the fair value of WAH?
Our model-based fair value for Wolftank Group is €12.61 (as of Sep 24, 2026), built from audited fundamentals. The current price: €3.46.
What is the quality score of WAH?
Wolftank Group has a Quality Score of 34/100. 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 Wolftank Group (WAH)?
Our model-based price target is the fair value of €12.61 (as of Sep 24, 2026) from 15 valuation models. Cautious scenario €8.47, optimistic scenario €16.74. It is a calculation from audited fundamentals, not an analyst target.
What is the Wolftank Group stock forecast for 2026?
Our models put fair value at €12.61, about +264% upside versus a price of €3.46 (undervalued). Cautious scenario €8.47, optimistic scenario €16.74. The calculation is refreshed regularly with new filings.
What is the revenue of Wolftank Group (WAH)?
Wolftank Group reported trailing-twelve-month revenue of about €123M (latest available figure, as of Sep 24, 2026).
What growth is priced into Wolftank Group (WAH)?
For today's price to be fair in a discounted-cash-flow model, Wolftank Group would have to grow free cash flow by -6.0 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +28.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of WAH use?
Our models discount Wolftank Group at 9.5 %: a base by market capitalisation (nano), 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 Wolftank Group that is -6.0 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Wolftank Group (WAH) delivered so far?
Over the past 5 years revenue at Wolftank Group grew +28.5 % a year. The price currently implies -6.0 % 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 Wolftank Group (WAH) growing?
The median revenue growth in the sector is +7.3 % a year. That is the yardstick for the growth priced into Wolftank Group (-6.0 % 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 Wolftank Group (WAH)?
The free-cash-flow yield on the price is 20.72 %: that much free cash flow Wolftank Group produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Wolftank Group (WAH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wolftank Group it is €12.61 per share (as of Sep 24, 2026), against a price of €3.46. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Wolftank Group stock overvalued or undervalued in 2026?
As of Sep 24, 2026, WAH trades below its calculated fair value: price €3.46, fair value €12.61, a gap of about +264% (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 WAH?
No. The price is what the market pays today (€3.46); the fair value is what the company's own numbers justify (€12.61). For Wolftank Group the two are €9.15 per share apart. That gap is exactly why we show both numbers side by side.
How much is Wolftank Group worth?
The market values Wolftank Group at about €18.3M (market capitalisation, as of Sep 24, 2026). Per share that is €3.46; our models calculate a fair value of €12.61 per share.
What do the bullish and bearish scenarios say about WAH?
Our models span a range for Wolftank Group: cautious scenario €8.47, base €12.61, optimistic €16.74 per share (as of Sep 24, 2026, price €3.46). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is WAH from its 52-week high?
Wolftank Group trades at €3.46, about 41% below its 52-week high of €5.85 and 1% above the low of €3.42 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €12.61 is for.
Which stocks are comparable to Wolftank Group?
From the same area (Industrials) we also value Veralto Corporation, Zurn Elkay Water Solutions Corporation, CECO Environmental Corp, Fujian Longking Co, 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 Wolftank Group stock attractive at the current price?
The data as of Sep 24, 2026: price €3.46, calculated fair value €12.61 (+264%), Quality Score 34/100, from 15 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 WAH calculated?
We run Wolftank Group through 15 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 €12.61, 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 14.5 % above its aggregate fair value. Wolftank Group currently trades 73 % 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 Wolftank Group (WAH)?
The closing price on Oct 2, 2026 was €3.46. Our model-based fair value is €12.61, about +264% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wolftank Group right now?
The large discount to fair value meets weak quality (34/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (€8.47). The market is more pessimistic than our downside scenario. A fairly wide model range (€8.47 to €16.74) leaves room in how you read the outcome.

Key figures of Wolftank Group

How large is the market capitalisation of Wolftank Group (WAH)?
The market capitalisation of Wolftank Group is €18.3M. 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 Wolftank Group (WAH)?
The price-to-sales ratio of Wolftank Group is 0.16 (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 Wolftank Group (WAH)?
Earnings per share at Wolftank Group are €−0.5300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Wolftank Group (WAH)?
The net margin of Wolftank Group is −1.1% (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 Wolftank Group (WAH)?
The return on equity (ROE) of Wolftank Group is −5.5% (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 Wolftank Group (WAH)?
On an EBIT basis the return on assets of Wolftank Group is 0.2% (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 Wolftank Group (WAH)?
The operating margin of Wolftank Group is −1.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wolftank Group (WAH)?
Revenue at Wolftank Group is growing +6.1% versus a year earlier (3y avg +25.1%). 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 Wolftank Group (WAH) carry?
The net debt of Wolftank Group is €20.8M (fiscal year 2025, ≈ 5.5 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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