SMA Solar Technology AG (S92) Fair Value & Analysis
Technology · DE · Market cap €2.1B
Fair value as of: Aug 13, 2026
From 7 valuation models · updated today
Share price −6.5% over the past month.
A solid business, but screening 16% overvalued on our models.
What matters now
- Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (€34.56 to €62.93) leaves room in how you read the outcome.
- Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Price vs Fair Value (5 years)
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 €11.15 – €108.17 · fair‑value band €34.56 – €62.93 · the €58.00 price screens above the €48.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
SMA Solar Technology AG (S92) currently trades at €58.00, while our model-based Fair Value estimate is €48.74, implying the stock looks roughly 16.0% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Technology 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: low).
Over the trailing twelve months, SMA Solar Technology AG generated revenue of €1.5B at a net margin of -12.3%. Revenue grew 4.0% year over year. It earns a return on equity of -40.8%. The balance sheet holds a net cash position of €50.8M. Fundamentals as of Aug 13, 2026
Our scenario range runs from €34.56 (bear case) to €62.93 (bull case); at €58.00, 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 18% below its 52-week high and 276% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -6% fair-value upside, at -16%, S92 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.
All 7 models by family
Widest divergence: Growth DCF (€56.03) versus Asset-Based (€7.06). Highest evidence: Growth DCF (80).
Notify me when S92 reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 70
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
SMA Solar Technology AG, together with its subsidiaries, develops, produces, and sells PV and battery inverters, monitoring systems for PV systems, and charging solutions for electric vehicles in Germany and internationally. The company operates in two segments: Home & Business Solutions and Large Scale & Project Solutions.
Full company description
SMA Solar Technology AG, together with its subsidiaries, develops, produces, and sells PV and battery inverters, monitoring systems for PV systems, and charging solutions for electric vehicles in Germany and internationally. The company operates in two segments: Home & Business Solutions and Large Scale & Project Solutions. It offers solar and battery inverters, hybrid inverters, system solutions and packages, solar batteries, e-mobility charging solutions, energy management solutions, SMA echarger and commercial storage solutions, and Sunny Tripower X, as well as digital solutions to design, operate, and service PV systems and energy systems. The company serves electric utility companies, independent power producers, project developers and institutional investors, EPCs, system integrators, and grid operators, as well as energy-intensive industries. The company was formerly known as SMA Technologie AG and changed its name to SMA Solar Technology AG in June 2008. SMA Solar Technology AG was founded in 1981 and is headquartered in Niestetal, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
SMA Solar Technology AG reported revenue of €1.5B in FY2025 versus €984M in FY2021, a compound +11.4%/yr. Reported net income was −€181M in FY2025.
S92 screens 16% overvalued. Compare with First Solar, Inc →
Peer Group
Solar · 115 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 Solar median · lower = cheaper
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.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Solar stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| First Solar, Inc FSLR | $240.91 | $392.12 | +63% |
| Nextpower Inc NXT | $103.67 | $69.61 | -33% |
| Waaree Energies Limited WAAREEENER | ₹2,668 | ₹2,709 | +2% |
| Tongwei Co 600438 | ¥12.89 | ¥12.13 | -6% |
| Jinko Solar Co 688223 | ¥4.52 | ¥6.47 | +43% |
| Enphase Energy, Inc ENPH | $40.77 | $24.15 | -41% |
| CSI Solar Co 688472 | ¥10.28 | ¥6.76 | -34% |
| Hengdian Group 002056 | ¥22.35 | ¥31.86 | +43% |
| Premier Energies Limited PREMIERENE | ₹1,086 | ₹912.32 | -16% |
| Trina Solar Co 688599 | ¥13.64 | ¥7.97 | -42% |
Compare SMA Solar Technology AG with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Technology stocks →
Frequently asked questions
Is SMA Solar Technology AG (S92) overvalued or undervalued?
What is the fair value of S92?
What is the quality score of S92?
What is the revenue of SMA Solar Technology AG (S92)?
What is the net profit margin of S92?
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.
Track SMA Solar Technology AG and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.