FCR Immobilien stock: fair value
FC9.DEThe fair value of FCR Immobilien under our model is $25.36, the price is 59% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Possible value trapIn our model the price counts as cheap below $18.11 and expensive above $42.27 (uncertainty high, one part of the fair value is more than twice the other).
The two parts of the fair value come to $33.87 (cash-flow model) and $16.85 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is below both.
Calculated with a cost of equity of 10.6%. At 11.6% the fair value would be $23.48, at 9.6% it would be $27.75.
Possible value trap: looks cheap, but score below 50, high risk.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (13.4).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.1%. Discounted at 10.6% (government bond yield 2.1% plus beta 2 times a risk premium of 4.2%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $33.87 per share: free cash flow for the next ten years, each year discounted to today at 10.6%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 10.6%) |
|---|---|---|---|---|
| 2026 | $21.94M | extrapolated at 17.5% | 0.9042 | $19.84M |
| 2027 | $24.77M | extrapolated at 12.9% | 0.8175 | $20.25M |
| 2028 | $27.17M | extrapolated at 9.7% | 0.7392 | $20.08M |
| 2029 | $29.18M | extrapolated at 7.4% | 0.6683 | $19.5M |
| 2030 | $30.88M | extrapolated at 5.8% | 0.6043 | $18.66M |
| 2031 | $32.34M | extrapolated at 4.7% | 0.5463 | $17.67M |
| 2032 | $33.61M | extrapolated at 4.0% | 0.4940 | $16.6M |
| 2033 | $34.76M | extrapolated at 3.4% | 0.4466 | $15.52M |
| 2034 | $35.81M | extrapolated at 3.0% | 0.4038 | $14.46M |
| 2035 | $36.8M | extrapolated at 2.8% | 0.3651 | $13.44M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $176.02M |
| Terminal value: cash flow 2035 × (1 + 2.1%) / (10.6% − 2.1%) | $444.25M |
| Present value of terminal value (× 0.3651) | $162.21M |
| Equity value (sum plus present value of terminal value) | $338.24M |
| Shares (diluted) | 9.99M |
| Value per share (equity value divided by shares) | $33.87 |
| Earnings per share, last twelve months | $1.26 |
| × 13.4 (industry P/E) | $16.85 |
| Fair value (average of both parts) | $25.36 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = €0.9024)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak since 11 Nov 2026, previously Neutral
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.