Mühlbauer Holding stock: fair value
MUB.DEThe fair value of Mühlbauer Holding under our model is $32.41, the price is 46% above.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Modestly overvaluedIn our model the price counts as cheap below $23.15 and expensive above $54.01 (uncertainty high, one part of the fair value is more than twice the other).
The two parts of the fair value come to $5.97 (cash-flow model) and $58.85 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 9%. At 10% the fair value would be $32.05, at 8% it would be $32.89.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (21.4).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.1%. Discounted at 9.0% (government bond yield 2.1% plus beta 1.61 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 $5.97 per share: free cash flow for the next ten years, each year discounted to today at 9.0%, 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 9.0%) |
|---|---|---|---|---|
| 2026 | $7.96M | extrapolated at −15.1% | 0.9178 | $7.31M |
| 2027 | $7.17M | extrapolated at −10.0% | 0.8424 | $6.04M |
| 2028 | $6.72M | extrapolated at −6.3% | 0.7732 | $5.19M |
| 2029 | $6.46M | extrapolated at −3.8% | 0.7096 | $4.58M |
| 2030 | $6.33M | extrapolated at −2.0% | 0.6513 | $4.12M |
| 2031 | $6.28M | extrapolated at −0.8% | 0.5978 | $3.76M |
| 2032 | $6.29M | extrapolated at 0.1% | 0.5486 | $3.45M |
| 2033 | $6.34M | extrapolated at 0.7% | 0.5035 | $3.19M |
| 2034 | $6.41M | extrapolated at 1.1% | 0.4622 | $2.96M |
| 2035 | $6.5M | extrapolated at 1.4% | 0.4242 | $2.76M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $43.36M |
| Terminal value: cash flow 2035 × (1 + 2.1%) / (9.0% − 2.1%) | $97.43M |
| Present value of terminal value (× 0.4242) | $41.33M |
| Equity value (sum plus present value of terminal value) | $84.69M |
| Shares (diluted) | 14.19M |
| Value per share (equity value divided by shares) | $5.97 |
| Earnings per share, last twelve months | $2.75 |
| × 21.4 (industry P/E) | $58.85 |
| Fair value (average of both parts) | $32.41 |
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 Neutral, published since 7 Nov 2026 (in the score history since 31 Mar 2024)
- 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.