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Ströer SE & Co. KGaA (SAX) Fair Value & Analysis

Communication Services · DE · Market cap €2.0B · ISIN DE0007493991

What is Ströer SE & Co. KGaA really worth?

SS Ströer SE & Co. KGaA SAX · XETRA
Price€37.60
Fair Value€41.69
Upside+10.9%
Quality58/100

A solid business, trading 10% below our fair value of €41.69.

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Strengths

Healthy Growth (revenue 5y +7.5 %/yr)
Ranks above peers (10/15)

Risks

!Thin margins · 5.9% net margin
!High debt · generates free cash flow
!Moderate moat 54/100
!Weak on future: 21 out of 100
!Weak on balance sheet: 8 out of 100
Evidence: High Range €28.73 – €59.36

Fair value as of: Aug 30, 2026

From 26 valuation models · updated 6 days ago

Share price −7.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A fairly wide model range (€28.73 to €59.36) leaves room in how you read the outcome.
  • The price sits in the lower half of our model range, the side with the larger margin of safety.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

€58.91 €27.82 Fair Value €41.69 Jul 2021 Sep 2026

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 €27.82 – €58.91 · fair‑value band €28.73 – €59.36 · the €37.60 price screens below the €41.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.

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Analysis

Ströer SE & Co. KGaA (SAX) currently trades at €37.60, while our model-based Fair Value estimate is €41.69, implying the stock looks roughly 9.8% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Communication Services sector. Bull case: the DCF Models group reads highest at a median of €56.61 per share, and 16 of the 26 models we run sit above the €37.60 price. Bear case: the Asset-Based group reads lowest at €5.72, and 10 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Ströer SE & Co. KGaA generated revenue of €2.1B at a net margin of 5.9%. Revenue grew 4.2% year over year. It earns a return on equity of 27.6%. Net debt stands at €1.6B. Fundamentals as of Aug 30, 2026

Our scenario range runs from €28.73 (bear case) to €59.36 (bull case); at €37.60, 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 30% below its 52-week high and 30% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at −13% fair-value upside, at 11%, SAX 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 €1.52 per share, which is 3.6 % 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.

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
FCF DCF best evidence €41.35 €70.87 €112.47 79
Growth DCF €41.22 €68.57 €105.47 77
Owner Earnings €49.48 €83.30 €130.97 75
All 26 models by family
DCF Models
FCF DCF best evidence €41.35 €70.87 €112.47 79
Owner Earnings €49.48 €83.30 €130.97 75
5Y Revenue Exit €30.79 €56.10 €88.55 71
5Y EBITDA Exit €58.22 €109.39 €170.83 73
5Y P/E Exit €27.56 €49.83 €73.53 70
10Y Revenue Exit €33.31 €56.61 €88.57 65
10Y EBITDA Exit €50.62 €91.13 €148.00 66
10Y P/E Exit €32.47 €52.55 €77.71 63
Earnings-Based
Graham-Dodd €15.32 €56.94 €76.95 64
Lynch FV €13.68 €19.54 €25.40 61
PEG = 1.0 €13.68 €19.54 €25.40 57
EPV €12.16 €15.79 €18.81 74
Dividend Discount
Gordon GGM €19.72 €35.53 €48.91 68
DDM Multi-Stage €19.72 €32.46 €37.96 67
Multiples
P/E Multiple €37.18 €49.58 €61.97 63
P/S Multiple €28.73 €38.31 €47.89 58
P/B Multiple €22.43 €29.90 €37.38 55
EV/EBIT €38.57 €56.24 €73.92 65
EV/EBITDA €78.79 €109.88 €140.96 67
EV/Revenue €25.75 €42.99 €60.22 52
Asset-Based
NCAV (Graham) €4.27 €5.72 €8.54 54
Growth DCF
Growth DCF €41.22 €68.57 €105.47 77
Rev-Margin DCF €30.79 €56.30 €87.22 71
Economic Profit
Residual Income €11.79 €14.21 €33.73 70
ROIC Compounder €13.15 €19.66 €27.60 71
Growth Earnings
Growth-Adj P/E €26.14 €37.34 €48.54 67

Widest divergence: DCF Models (€56.61) versus Asset-Based (€5.72). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 16.9
P/S ratio 1.02 P/E × margin
EPS (TTM) €2.21 price ÷ EPS = P/E 16.9
Dividend yield 6.7% payout 114%
Net margin 6.1% FY2025
Return on equity 27.6% TTM
More key figures
Profitability
Return on assets (EBIT) 8.6% avg 5y
Operating margin 5.7% TTM
Growth
Revenue (TTM) €2.1B TTM
Revenue growth (YoY) +4.2% 3y avg +5.4%
EPS growth (YoY) +3.0%
Balance sheet & cash flow
Free cash flow €316M FY2025
Net debt €1.6B FY2025 · ≈ 5.1 yrs of FCF

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 54 · Market factors (momentum, volatility) 53

Profitability 52
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 77
Earnings quality: real cash, not paper profit
Fin. Strength 10
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 54
Price trend over the last 3–12 months (market factor)
52W Momentum 44
Distance to the 52-week high (market factor)
Net Issuance 83
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.

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

Ströer SE & Co. KGaA provides out-of-home (OOH) media and digital out-of-home advertising services in Germany and internationally. The company operates through three segments: OOH Media, Digital & Dialog Media, and DaaS & E-Commerce.

Full company description

Ströer SE & Co. KGaA provides out-of-home (OOH) media and digital out-of-home advertising services in Germany and internationally. The company operates through three segments: OOH Media, Digital & Dialog Media, and DaaS & E-Commerce. It offers traditional analog OOH advertising products, including traditional poster media to advertisements at bus and tram shelters, and on public transport. The company also provides local marketing of digital products to small and medium-sized customers; online marketing activities on both internal and third-party advertising platforms; telesales, telemarketing, and field sales services, including customer communication services; and processing and provision of statistical market and consumer data under the Statista brand. In addition, it operates t-online.de, a news portal; and special interest portals, such as giga.de, familie.de, desired.de, and kino.de. Further, the company provides make-up and facial, body, and hair care products under the M. Asam, ahuhu organic hair care, YOUTH-LIFT, and Kräuterhof brands through e-commerce, brick- and-mortar retail, and telesales channels, as well as through international wholesale business. Ströer SE & Co. KGaA was incorporated in 2016 and is based in Cologne, Germany.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ströer SE & Co. KGaA reported revenue of €2.1B in FY2025 versus €1.6B in FY2021, a compound +6.3%/yr. Reported net income was €126M in FY2025, compounding +0.7%/yr from FY2021.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€2.1B
Latest YoY
+1.4%
Avg. revenue 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.
+5.4%
Avg. revenue 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.
+7.5%
Avg. revenue growth/yr (19Y) 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.
+8.5%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+8.0% (1.3 + 6.7)
Revenue +6.3%/yr
FY21 €1.6B
FY22 €1.8B
FY23 €1.9B
FY24 €2.0B
FY25 €2.1B
Net income +0.7%/yr
FY21 €122M
FY22 €143M
FY23 €92.8M
FY24 €131M
FY25 €126M
Character of growth · EPS growth decomposed (2014-2025) +9.2 % p.a.
Revenue per share +8.8 %

of which total revenue +9.5 % · buybacks/dilution −0.6 %

EBIT margin +4.2 %
Tax rate −2.2 %
Residual (interest, one-offs) −1.5 %

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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Cite: Fair Value Calculator (2026). "Ströer SE & Co. KGaA Fair Value". https://www.fairvalue-calculator.com/stock/SAX

Peer Group

Advertising Agencies · 195 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 58 · Above median
Fair Value upside +11% · Above median
Return on equity (TTM) 28% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 6% · Top 25%
Operating margin (TTM) 6% · Above median
Revenue growth 4% · Above median
Dividend yield (TTM) 6.7% · Top 25%
Debt / equity 1.85× · Higher than 75% of peers

Valuation Multiples vs Advertising Agencies median · lower = cheaper

P/E (TTM) 16.9× · Cheaper than median
P/B 4.86× · Pricier than 75% of peers
P/S (TTM) 1.11× · Pricier than median
P/FCF 7.3× · Pricier than median
EV/EBITDA 5.6× · Cheaper than median
PEG 15.98× · Pricier than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE48 · sector 25
FUTURE21 · sector 6
PAST100 · sector 6
HEALTH8 · sector 99
DIVIDEND100 · sector 56

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

Similar stocks

10 more Advertising Agencies stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).

Stock Price Fair Value vs Fair Value
AppLovin Corporation APP $317.76 $252.45 −21%
Publicis Groupe S.A PUB €101.65 €146.36 +44%
Omnicom Group OMC $86.09 $99.84 +16%
Focus Media Information Technology Co 002027 ¥4.97 ¥5.71 +15%
The Trade Desk, Inc TTD $13.57 $29.07 +114%
BlueFocus Intelligent Communications Group 300058 ¥13.37 ¥1.44 −89%
JCDecaux SE DEC €24.00 €20.99 −13%
WPP plc WPP $26.87 $19.05 −29%
Easy Click Worldwide Network Technology Co 301171 ¥37.40 ¥5.62 −85%
Magnite, Inc MGNI $24.53 $12.18 −50%

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Frequently asked questions

Is Ströer SE & Co. KGaA (SAX) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of €41.69 versus a price of €37.60, about +11% upside (undervalued).
What is the fair value of SAX?
Our model-based fair value for Ströer SE & Co. KGaA is €41.69 (as of Aug 30, 2026), built from audited fundamentals. The current price: €37.60.
What is the quality score of SAX?
Ströer SE & Co. KGaA has a Quality Score of 58/100. 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 Ströer SE & Co. KGaA (SAX)?
Ströer SE & Co. KGaA reported trailing-twelve-month revenue of about €2.1B (latest available figure, as of Aug 30, 2026).
What is the net profit margin of SAX?
The net profit margin of Ströer SE & Co. KGaA is about 5.9%, meaning it keeps roughly 5.9% of revenue as net income. Based on the latest reported figures.
Does Ströer SE & Co. KGaA pay a dividend?
Ströer SE & Co. KGaA currently shows a dividend yield of about 6.72% relative to its recent price (as of Aug 30, 2026).
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