Zumtobel Group stock: fair value
ZAG.VIThe fair value of Zumtobel Group under our model is $3.48, the price is 25% above.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Fairly valuedIn our model the price counts as cheap below $2.48 and expensive above $5.79 (uncertainty high, one part of the fair value is more than twice the other).
The two parts of the fair value come to $0.42 (cash-flow model) and $6.53 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 11.7%. At 12.7% the fair value would be $3.46, at 10.7% it would be $3.50.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (26.1).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.6%. Discounted at 11.7% (government bond yield 2.6% plus beta 2 times a risk premium of 4.6%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $0.42 per share: free cash flow for the next ten years, each year discounted to today at 11.7%, 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 11.7%) |
|---|---|---|---|---|
| 2027 | $2.14M | extrapolated at −13.2% | 0.8949 | $1.91M |
| 2028 | $1.96M | extrapolated at −8.5% | 0.8009 | $1.57M |
| 2029 | $1.86M | extrapolated at −5.2% | 0.7168 | $1.33M |
| 2030 | $1.8M | extrapolated at −2.9% | 0.6415 | $1.16M |
| 2031 | $1.78M | extrapolated at −1.2% | 0.5741 | $1.02M |
| 2032 | $1.78M | extrapolated at −0.1% | 0.5137 | $913.97K |
| 2033 | $1.79M | extrapolated at 0.7% | 0.4598 | $823.68K |
| 2034 | $1.81M | extrapolated at 1.3% | 0.4115 | $746.43K |
| 2035 | $1.84M | extrapolated at 1.7% | 0.3682 | $679.02K |
| 2036 | $1.88M | extrapolated at 1.9% | 0.3295 | $619.36K |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $10.77M |
| Terminal value: cash flow 2036 × (1 + 2.6%) / (11.7% − 2.6%) | $21M |
| Present value of terminal value (× 0.3295) | $6.92M |
| Equity value (sum plus present value of terminal value) | $17.69M |
| Shares (diluted) | 42.34M |
| Value per share (equity value divided by shares) | $0.42 |
| Earnings per share, last twelve months | $0.25 |
| × 26.1 (industry P/E) | $6.53 |
| Fair value (average of both parts) | $3.48 |
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 2026, period end 30 Apr 2026
- 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, published since 7 Nov 2026 (in the score history since 29 Aug 2025)
- 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.