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SFC Energy AG (F3C) Fair Value & Analysis

Industrials · DE · Market cap €331M

SE SFC Energy AG F3C · XETRA
Price€20.85
Fair Value€6.31
Upside-69.7%
Quality50/100
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Expensive Growth
Loss-making · -0.8% net margin
Low debt · negative free cash flow
Trails peers (4/13)
Narrow moat 31/100
Evidence: Medium Range €5.90 – €6.64 Share as image

Fair value as of: Aug 13, 2026

From 9 valuation models · updated today

Share price +6.1% over the past month.

A solid business, but screening 70% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€6.64). The favourable scenario is already priced in.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The models converge in a tight band (€5.90 to €6.64), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

€34.20 €11.74 Fair Value €6.31 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range €11.74 – €34.20 · fair‑value band €5.90 – €6.64 · the €20.85 price screens above the €6.31 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

SFC Energy AG (F3C) currently trades at €20.85, while our model-based Fair Value estimate is €6.31, implying the stock looks roughly 69.7% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Industrials 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: medium).

Over the trailing twelve months, SFC Energy AG generated revenue of €139M at a net margin of -0.8%. Revenue declined 11.7% year over year. It earns a return on equity of -1.0%. The balance sheet holds a net cash position of €30.3M. Fundamentals as of Aug 13, 2026

Our scenario range runs from €5.90 (bear case) to €6.64 (bull case); at €20.85, 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 16% below its 52-week high and 84% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -65% fair-value upside, at -70%, F3C screens richer 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
ROIC Compounder €6.09 €6.56 €6.94 72
Gordon GGM €1.51 €2.72 €3.75 70
DDM Multi-Stage €1.51 €2.49 €2.91 61
All 9 models by family
DCF Models
Owner Earnings €5.25 €7.64 €11.81 31
Earnings-Based
EPV €6.09 €6.56 €6.94 59
Dividend Discount
Gordon GGM €1.51 €2.72 €3.75 70
DDM Multi-Stage €1.51 €2.49 €2.91 61
Multiples
EV/EBIT €11.43 €14.34 €17.26 53
EV/EBITDA €13.71 €17.39 €21.06 54
EV/Revenue €8.93 €11.60 €14.28 43
Asset-Based
NCAV (Graham) €3.99 €5.35 €7.98 50
Economic Profit
ROIC Compounder €6.09 €6.56 €6.94 72

Widest divergence: Multiples (€14.34) versus Dividend Discount (€2.49). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) €139M
Revenue growth (YoY) -11.7%
Net margin -0.8%
Return on equity -1.0%
Free cash flow −€8.7M FY2025
P/E ratio 695.0
More key figures
Operating margin 12.0%
EPS (TTM) €0.0300
EPS growth (YoY) -23.1%
Net cash €30.3M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 53 · Market factors (momentum, volatility) 60

Profitability 29
Margins and returns on capital today
Quality Growth 24
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 36
Calm price path (market factor)
Momentum 71
Price trend over the last 3–12 months (market factor)
52W Momentum 69
Distance to the 52-week high (market factor)
Net Issuance 74
Buybacks instead of dilution

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

SFC Energy AG, together with its subsidiaries, develops, produces, and distributes systems and solutions for stationary and mobile off-grid power supply based on hydrogen and direct methanol fuel cells worldwide. The company operates in two segments, Clean Energy and Clean Power Management.

Full company description

SFC Energy AG, together with its subsidiaries, develops, produces, and distributes systems and solutions for stationary and mobile off-grid power supply based on hydrogen and direct methanol fuel cells worldwide. The company operates in two segments, Clean Energy and Clean Power Management. It offers EFOY Hydrogen 2.5 fuel cells for higher power ranges; EFOY Hydrogen 5.0 fuel cell, a fuel cell system with a power of 5.0 KW; EFOY Pro, a direct methanol fuel cells for professional users; and EFOY Pro 12000 Duo, direct methanol fuel cells for high energy requirements. In addition, it provides EFOY Lithium Battery and fuel cartridges; power management, including SFC power manager 3G, drives and motor resolutions, power platform, and coil assemblies; as well as offers clean energy solutions for industrial, consumer, and defense and public security. The company also provides drives and motor solutions; measurements and instruments; SCADA and telemetry solutions; and coils and linear drives. In addition, it offers accessories and spare parts, such as fuel cartridges; and mechanical, electronic, and electrical instruments to monitor and control production and logistics processes. SFC Energy AG was formerly known as SFC Smart Fuel Cell AG and changed its name to SFC Energy AG in July 2010. The company was founded in 2000 and is headquartered in Brunnthal, Germany.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SFC Energy AG reported revenue of €143M in FY2025 versus €64.3M in FY2021, a compound +22.2%/yr. Reported net income was −€607K in FY2025.

Growth Quality 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€143M
Latest YoY
−1.0%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+21.9%
Avg. growth/yr (17Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.4%
Revenue +22.2%/yr
FY21 €64.3M
FY22 €85.2M
FY23 €118M
FY24 €145M
FY25 €143M
Net income
FY21 −€5.8M
FY22 €2.0M
FY23 €21.1M
FY24 €9.4M
FY25 −€607K

F3C screens 70% overvalued. Compare with Contemporary Amperex Technology Co →

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Cite: Fair Value Calculator (2026). "SFC Energy AG Fair Value". https://www.fairvalue-calculator.com/stock/F3C

Peer Group

Electrical Equipment & Parts · 525 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.

Quality Score 50 · Below median
Fair Value upside −70% · Bottom 25%
Return on assets 4% · Above median
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) 12% · Above median
Revenue growth -12% · Bottom 25%

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 695.0× · Pricier than 75% of peers
P/B 2.76× · Pricier than median
P/S (TTM) 2.76× · Pricier than median
EV/EBITDA 25.4× · Pricier than median
PEG 0.82× · Cheaper than median

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 · sector 0
FUTURE 0 · sector 57
PAST 0 · sector 27
HEALTH 100 · sector 97
DIVIDEND 0 · sector 20

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$652.50 HK$394.19 -40%
Delta Electronics (Thailand) Public Company DELTA 269.00 THB 40.28 THB -85%
LG Energy Solution, Ltd 373220 365,500 KRW 201,455 KRW -45%
WEG S.A WEGE3 14,900 ARS 4,338 ARS -71%
Sungrow Power Supply Co 300274 ¥117.53 ¥123.83 +5%
HD Hyundai Electric Co 267260 782,000 KRW 371,133 KRW -53%
LS ELECTRIC Co 010120 208,500 KRW 29,594 KRW -86%
Hyosung Heavy Industries Corporation 298040 2,892,000 KRW 1,013,099 KRW -65%
Hitachi Energy India Limited POWERINDIA ₹35,800 ₹6,106 -83%
Polycab India Limited POLYCAB ₹9,289 ₹3,218 -65%

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Frequently asked questions

Is SFC Energy AG (F3C) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €6.31 versus a price of €20.85, about −70% (overvalued).
What is the fair value of F3C?
Our model-based fair value for SFC Energy AG is €6.31 (as of Aug 13, 2026), built from audited fundamentals. The current price is €20.85.
What is the quality score of F3C?
SFC Energy AG has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of SFC Energy AG (F3C)?
SFC Energy AG reported trailing-twelve-month revenue of about €139M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of F3C?
The net profit margin of SFC Energy AG is about -0.8%, meaning it is currently running at a net loss. Based on the latest reported figures.

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.

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