freenet AG (FNTN) Fair Value & Analysis
Communication Services · DE · Market cap €2.8B · ISIN DE000A0Z2ZZ5
What is freenet AG really worth?
A solid business, trading 46% below our fair value of €45.32.
Strengths
Risks
For context
Fair value as of: Aug 30, 2026
From 24 valuation models · updated 6 days ago
Share price +1.7% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price is below even our cautious bear case (€31.89). The market is more pessimistic than our downside scenario.
- Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (€31.89 to €62.65) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range €13.81 – €32.60 · fair‑value band €31.89 – €62.65 · the €24.38 price screens below the €45.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.
Analysis
freenet AG (FNTN) currently trades at €24.38, while our model-based Fair Value estimate is €45.32, implying the stock looks roughly 46.2% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Communication Services sector. Bull case: the Multiples group reads highest at a median of €45.08 per share, and 19 of the 24 models we run sit above the €24.38 price. Bear case: the Asset-Based group reads lowest at €8.70, and 5 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, freenet AG generated revenue of €2.6B at a net margin of 10.0%. Revenue grew 25.9% year over year. It earns a return on equity of 16.8%. Net debt stands at €839M. Fundamentals as of Aug 30, 2026
Our scenario range runs from €31.89 (bear case) to €62.65 (bull case); at €24.38, the current price sits below 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 22% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 30% fair-value upside, at 86%, FNTN screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €0.0880 per share, which is 0.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: Multiples (€45.08) versus Asset-Based (€8.70). Highest evidence: FCF DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 48
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
freenet AG provides telecommunications, broadcasting, and multimedia services for mobile communications/mobile internet, and digital lifestyle sectors in Germany. It operates through Mobile Communications, TV and Media, and Other/Holding segments.
Full company description
freenet AG provides telecommunications, broadcasting, and multimedia services for mobile communications/mobile internet, and digital lifestyle sectors in Germany. It operates through Mobile Communications, TV and Media, and Other/Holding segments. The Mobile Communications segment engages in marketing mobile communications services, which include voice and data services from the mobile network operators; planning, set up, installation, and maintenance services for WiFi networks; and selling and distribution of mobile devices, as well as offering additional services for mobile data communications and digital lifestyle. This segment also provides network-independent services and tariffs; tariffs of the network operators; and freenet Internet, an app-based Internet product. The TV and Media segment is involved in the planning, project management, construction, operation, service, and marketing services for broadcast-related solutions for business clients in the broadcasting and media sectors; and the provision of services to end users in the field of DVB-T2 and IPTV. The Other/Holding segment offers portal services, such as e-commerce/advertising services; payment services; various digital products and entertainment formats for downloading and displaying, as well as use on mobile devices; communication development solutions, IT services, and other services; narrowband voice services; data services; and distribution services. The company was formerly known as telunico holding AG and changed its name to freenet AG in March 2005. freenet AG was incorporated in 2005 and is headquartered in Büdelsdorf, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
freenet AG reported revenue of €2.4B in FY2025 versus €2.6B in FY2021, a compound −1.2%/yr. Reported net income was €271M in FY2025, compounding +8.2%/yr from FY2021.
of which total revenue −2.6 % · buybacks/dilution +0.9 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- freenet AG (FRTAF) (Q2 2026) Earnings Call Highlights: Surpasses 10 Million Subscribers and ...
- freenet AG (FRTAF) Q1 2026 Earnings Call Highlights: Strong Revenue Growth Amidst Contract ...
- freenet AG (ETR:FNTN) Pays A €2.07 Dividend In Just Two Days
- freenet AG (FRTAF) Q4 2025 Earnings Call Highlights: Record Postpaid Additions and Strategic ...
Peer Group
Telecom Services · 248 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.
Valuation Multiples vs Telecom Services median · lower = cheaper
Strength profile in five axes (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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Mobile Limited 600941 | ¥96.11 | ¥109.88 | +14% |
| T-Mobile US, Inc TMUS | $177.75 | $172.67 | −3% |
| Verizon Communications Inc VZ | $49.43 | $64.43 | +30% |
| AT&T Inc T | $26.01 | $43.97 | +69% |
| Bharti Airtel Limited BHARTIARTL | ₹1,935 | ₹941.48 | −51% |
| Comcast Corporation CMCSA | $26.41 | $95.42 | +261% |
| China Telecom Corporation 601728 | ¥6.43 | ¥8.36 | +30% |
| América Móvil, S.A. AMX | $23.50 | $39.45 | +68% |
| Singapore Telecommunications Limited Z77 | 4.29 SGD | 3.03 SGD | −29% |
| Swisscom AG SCMN | CHF 627.50 | CHF 463.92 | −26% |
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