secunet Security Networks Aktiengesellschaft (YSN) Fair Value & Analysis
Technology · DE · Market cap €1.1B
Fair value as of: Jul 13, 2026
From 26 valuation models · updated 28 days ago
Share price +10.8% over the past month.
A solid business, but screening 46% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (€128.85). The favourable scenario is already priced in.
- Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.
How to read this chart
60‑month range €88.13 – €556.81 · fair‑value band €77.31 – €128.85 · the €190.60 price screens above the €103.08 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.
Analysis
secunet Security Networks Aktiengesellschaft (YSN) currently trades at €190.60, while our model-based Fair Value estimate is €103.08, implying the stock looks roughly 45.9% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Technology 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, secunet Security Networks Aktiengesellschaft generated revenue of €462M at a net margin of 6.5%. Revenue grew 4.5% year over year. It earns a return on equity of 21.0%. The balance sheet holds a net cash position of €67.2M. Fundamentals as of Jul 13, 2026
Our scenario range runs from €77.31 (bear case) to €128.85 (bull case); at €190.60, 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 23% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at -46%, YSN 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.
All 26 models by family
Widest divergence: DCF Models (€155.70) versus Asset-Based (€17.30). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 70 · Market factors (momentum, volatility) 37
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
secunet Security Networks Aktiengesellschaft operates as a cybersecurity company in Germany and internationally. It operates in Public Sector and Business Sector segments.
Full company description
secunet Security Networks Aktiengesellschaft operates as a cybersecurity company in Germany and internationally. It operates in Public Sector and Business Sector segments. The company provides safety audits and analyses; Biomiddle, a middleware for biometrics and eID applications; Bocoa, a digital ID tool; Easygate, an automated border control system; Easykiosk, a self-service kiosk system; SINA workstations to process classified data; Artificial Intelligence; EID public key infrastructure suite to secure digital processes; and GRT platinum edition, a readout tool for sovereign ID documents. It offers Easytower for facial images for all stationary applications; Secunet Edge, a cloud based service; Globaltester, a tool for conformity testing; hardware security modules; secunet konnektor for healthcare telematics; Protect4use to protect digital identity; IT security outsourcing; and Session Border Controller for secure VoIP telephony. In addition, the company offers Secunet Monitor KRITIS, an attack detection solution; SINA Communicator H, a multi-crypto phone; SINA Workflow, digital management of classified information; Stashcat, a secure messaging for police, public authorities, and companies; identity and access management solutions; incident response solutions; systems for modern police work; SINA L2 box to transfer data; SINA L3 box for encrypted information transfer; and SINA Mobile for smartphones. Further, it provides a business continuity management system; security awareness campaign; awareness training and biometric solutions; crypto services and cybersecurity situation; data protection management; information security management; secure web solutions; EES for air, land, and sea borders; security analyses and penetration tests; test lab for IT-conformity. The company was founded in 1997 and is headquartered in Essen, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
secunet Security Networks Aktiengesellschaft reported revenue of €459M in FY2025 versus €338M in FY2021, a compound +8.0%/yr. Reported net income was €33.3M in FY2025, compounding −6.2%/yr from FY2021.
YSN screens 46% overvalued. Compare with Microsoft Corporation →
Peer Group
Software - Infrastructure · 368 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.
Valuation Multiples vs Software - Infrastructure median · lower = cheaper
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 0: the price sits above our fair-value range.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $384.00 | $274.17 | -29% |
| Oracle Corporation ORAC | C$9.08 | C$2.94 | -68% |
| Fortinet, Inc FTNT | $160.78 | $44.96 | -72% |
| Synopsys, Inc 1SNPS | €354.50 | €93.61 | -74% |
| Block, Inc XYZ | A$114.53 | A$70.69 | -38% |
| CoreWeave, Inc CRWV | $79.94 | $44.89 | -44% |
| Range Intelligent Computing Technology Group 300442 | ¥71.60 | ¥34.00 | -53% |
| Oracle Financial Services Software Limited OFSS | ₹11,651 | ₹5,821 | -50% |
| 360 Security Technology Inc 601360 | ¥9.64 | ¥5.05 | -48% |
| One97 Communications Limited PAYTM | ₹1,342 | ₹181.50 | -86% |
Compare secunet Security Networks Aktiengesellschaft with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Technology stocks →
Frequently asked questions
Is secunet Security Networks Aktiengesellschaft (YSN) overvalued or undervalued?
What is the fair value of YSN?
What is the quality score of YSN?
What is the revenue of secunet Security Networks Aktiengesellschaft (YSN)?
What is the net profit margin of YSN?
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.
Track secunet Security Networks Aktiengesellschaft and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.