Aurubis AG (NDA) Fair Value & Analysis
Industrials · DE · Market cap €7.5B · ISIN DE0006766504
What is Aurubis AG really worth?
A solid business, trading 22% below our fair value of €223.43.
Strengths
Risks
For context
Fair value as of: Aug 29, 2026
From 17 valuation models · updated 6 days ago
Share price −9.2% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (€156.40 to €290.46) 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 29, 2026.
How to read this chart
60‑month range €49.43 – €219.20 · fair‑value band €156.40 – €290.46 · the €174.00 price screens below the €223.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Aurubis AG (NDA) currently trades at €174.00, while our model-based Fair Value estimate is €223.43, implying the stock looks roughly 22.1% undervalued today. The Quality Score stands at 56/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of €223.43 per share, and 8 of the 17 models we run sit above the €174.00 price. Bear case: the Earnings-Based group reads lowest at €70.62, and 9 of the 17 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Aurubis AG generated revenue of €20.4B at a net margin of 4.5%. Revenue grew 21.4% year over year. It earns a return on equity of 17.1%. Net debt stands at €222M. Fundamentals as of Aug 29, 2026
Our scenario range runs from €156.40 (bear case) to €290.46 (bull case); at €174.00, the current price sits within 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 21% below its 52-week high and 129% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −58% fair-value upside, at 28%, NDA screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 11 months have passed since. In that time the company retained roughly €18.16 per share, which is 8.1 % 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 17 models by family
Widest divergence: Growth Earnings (€223.43) versus DCF Models (€2.00). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 60
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
Aurubis AG processes metal concentrates and recycling materials in Germany. The company engages in processing of scrap metals, organic and inorganic metalbearing recycling raw materials, and industrial residues. It also offers copper cast rods and specialty wires, shapes, bars and profiles, industrial rolled products, and architectural rolled products.
Full company description
Aurubis AG processes metal concentrates and recycling materials in Germany. The company engages in processing of scrap metals, organic and inorganic metalbearing recycling raw materials, and industrial residues. It also offers copper cast rods and specialty wires, shapes, bars and profiles, industrial rolled products, and architectural rolled products. In addition, the company produces gold, silver, tin, lead, lead-bismuth alloy, lead-antimony litharge, tellurium metals, and tellurium dioxide. Further, the company engages in the recycling of copper and alloy scrap; printed circuit board and electronic scrap; mixed heavy metal fractions and shredder; residues, slimes, and sludges; preciouse metal recycling material; tin scrap; and copper iron and bimetal scrap. Additionally, it provides sulfuric acid, iron-silicate, smelter intermediates, and selenium, as well as produces various products from purchased copper and copper alloy scrap, electronic scrap, and industrial residues. The company was formerly known as Norddeutsche Affinerie AG and changed its name to Aurubis AG in April 2009. Aurubis AG was incorporated in 1866 and is headquartered in Hamburg, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Aurubis AG reported revenue of €18.2B in FY2025 versus €16.4B in FY2021, a compound +2.6%/yr. Reported net income was €539M in FY2025, compounding −3.2%/yr from FY2021.
of which total revenue +5.7 % · buybacks/dilution +0.3 %
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.
- Aurubis AG (AIAGY) (Q3 2026) Earnings Call Highlights: Strong Earnings Growth Amid Strategic ...
- Aurubis Q3 Earnings Call Highlights
- Assessing Aurubis (XTRA:NDA) Valuation After Upgraded Outlook And Strong Half Year Results
- Aurubis AG (AIAGY) Q2 2026 Earnings Call Highlights: Strong Revenue Growth Amid Operational ...
Peer Group
Metal Fabrication · 251 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 Metal Fabrication 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 Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Carpenter Technology Corporation CRS | $490.58 | $101.35 | −79% |
| ATI Inc ATI | $210.76 | $35.74 | −83% |
| Mueller Industries, Inc MLI | $62.80 | $59.33 | −6% |
| China International Marine Containers (Group) Co 000039 | ¥8.87 | ¥3.39 | −62% |
| Commercial Metals Company CMC | $68.16 | $13.01 | −81% |
| JL Mag Rare-Earth Co 300748 | ¥27.08 | ¥8.34 | −69% |
| Viohalco S.A VIO | €16.46 | €14.98 | −9% |
| ESAB Corporation ESAB | $86.05 | $52.40 | −39% |
| Ningbo Zhenyu Technology Co 300953 | ¥104.36 | ¥44.23 | −58% |
| Western Superconducting Technologies Co 688122 | ¥48.83 | ¥24.43 | −50% |
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