As of June 16, 2025, Haemato AG's estimated intrinsic value ranges from $25.35 to $43.92 per share, depending on the valuation methodology applied.
| Valuation Method | Fair Value (USD) | Implied Upside/Downside |
|---|---|---|
| Discounted Cash Flow (10Y) | $25.35 | +18.5% |
| Discounted Cash Flow (5Y) | $26.91 | +25.7% |
| Dividend Discount Model (Multi-Stage) | $28.68 | +34.0% |
| Dividend Discount Model (Stable) | $39.19 | +83.1% |
| Earnings Power Value | $43.92 | +105.2% |
Is Haemato AG (HAEK.DE) undervalued or overvalued?
With the current market price at $21.40, the stock appears to be significantly undervalued.
Intrinsic value represents the "true" worth of a company based on its fundamentals rather than market sentiment. We've employed multiple methodologies to triangulate Haemato AG's intrinsic value, including:
The cost of capital is a critical factor in valuation models, representing the required return for investors.
| WACC Component | Low | High |
|---|---|---|
| Long-term bond rate | 2.6% | 3.1% |
| Equity market risk premium | 5.1% | 6.1% |
| Adjusted beta | 0.62 | 0.65 |
| Cost of equity | 5.8% | 7.6% |
| Cost of debt | 5.0% | 5.0% |
| Tax rate | 14.1% | 20.3% |
| Debt/Equity ratio | 0.05 | 0.05 |
| After-tax WACC | 5.8% | 7.4% |
Our DCF model projects cash flows over 5-year and 10-year horizons, with the following key assumptions:
| DCF Model | Fair Value | Enterprise Value | % from Terminal Value |
|---|---|---|---|
| 5-Year Growth | $27 | $129M | 82.7% |
| 10-Year Growth | $25 | $121M | 64.5% |
| 5-Year EBITDA | $18 | $81M | 72.4% |
| 10-Year EBITDA | $20 | $94M | 54.2% |
The DDM values a company based on its expected future dividend payments. We used two approaches:
EPV assesses a company's value based on its current normalized earnings power, assuming no growth.
| EPV Component | Value |
|---|---|
| Normalized Earnings | $14M |
| Discount Rate (WACC) | 7.4% - 5.8% |
| Enterprise Value | $190M - $246M |
| Net Debt | $(11)M |
| Equity Value | $201M - $257M |
| Outstanding Shares | 5M |
| Fair Value | $39 - $49 |
| Selected Fair Value | $43.92 |
| Metric | Value |
|---|---|
| Market Capitalization | $112M |
| Enterprise Value | $101M |
| Trailing P/E | 11.60 |
| Forward P/E | 12.48 |
| Trailing EV/EBITDA | 7.65 |
| Current Dividend Yield | 517.24% |
| Dividend Growth Rate (5Y) | -3.35% |
| Debt-to-Equity Ratio | 0.05 |
To determine the most reliable intrinsic value estimate, we weigh each valuation method based on:
| Valuation Method | Weight | Weighted Value |
|---|---|---|
| Discounted Cash Flow (10Y) | 30% | $7.61 |
| Discounted Cash Flow (5Y) | 25% | $6.73 |
| Dividend Discount Model (Multi-Stage) | 20% | $5.74 |
| Dividend Discount Model (Stable) | 15% | $5.88 |
| Earnings Power Value | 10% | $4.39 |
| Weighted Average | 100% | $30.34 |
Based on our comprehensive valuation analysis, Haemato AG's weighted average intrinsic value is $30.34, which is approximately 41.8% above the current market price of $21.40.
Key investment considerations:
Given these factors, we believe Haemato AG is currently significantly undervalued with the potential for long-term appreciation based on the company's growth trajectory and financial strength.