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Springer Nature AG (SPG) Fair Value & Analysis

Communication Services · DE · Market cap €3.9B

SN Springer Nature AG SPG · XETRA
Price€19.98
Fair Value€30.50
Upside+52.7%
Quality74/100
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Healthy Growth
Solidly profitable · 18.5% net margin
Moderate debt · generates free cash flow
4.36% dividend yield
Ranks above peers (10/14)
Wide moat 75/100
Evidence: Medium Range €20.06 – €40.73 Share as image

Fair value as of: Aug 13, 2026

From 25 valuation models · updated today

Share price +11.0% over the past month.

A solid business, screening 53% undervalued on our models.

What matters now

  • The rarer combination: high quality (74/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • A fairly wide model range (€20.06 to €40.73) leaves room in how you read the outcome.
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Price vs Fair Value (22 months)

€26.07 €14.29 Fair Value €30.50 Oct 2024 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

22‑month range €14.29 – €26.07 · fair‑value band €20.06 – €40.73 · the €19.98 price screens below the €30.50 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

Springer Nature AG (SPG) currently trades at €19.98, while our model-based Fair Value estimate is €30.50, implying the stock looks roughly 52.7% undervalued today. The Quality Score stands at 74/100 (solid quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Springer Nature AG generated revenue of €1.9B at a net margin of 18.5%. Revenue grew 5.5% year over year. It earns a return on equity of 18.5%. Net debt stands at €1.2B. Fundamentals as of Aug 13, 2026

Our scenario range runs from €20.06 (bear case) to €40.73 (bull case); at €19.98, 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 15% below its 52-week high and 42% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 10% fair-value upside, at 53%, SPG screens cheaper 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
Growth DCF €21.06 €30.58 €42.88 80
Residual Income €11.41 €15.69 €60.01 76
Rev-Margin DCF €15.89 €25.96 €36.62 74
All 25 models by family
DCF Models
FCF DCF €20.32 €30.50 €44.17 38
Owner Earnings €23.91 €35.49 €51.04 31
5Y Revenue Exit €15.89 €25.56 €37.25 39
5Y EBITDA Exit €21.91 €36.13 €51.78 41
5Y P/E Exit €20.06 €32.88 €45.43 38
10Y Revenue Exit €16.84 €25.59 €36.01 36
10Y EBITDA Exit €21.05 €32.52 €46.23 37
10Y P/E Exit €19.92 €30.39 €41.76 35
Earnings-Based
Graham-Dodd €12.16 €26.27 €33.40 54
PEG = 1.0 €4.08 €5.83 €7.58 46
EPV €10.90 €13.54 €15.82 59
Dividend Discount
Gordon GGM €1.14 €1.74 €2.36 70
DDM Multi-Stage €1.14 €1.62 €2.14 61
Multiples
P/E Multiple €29.51 €39.35 €49.18 63
P/S Multiple €22.80 €30.40 €38.00 58
P/B Multiple €22.80 €30.40 €38.00 55
EV/EBIT €22.12 €31.42 €40.73 53
EV/EBITDA €27.13 €38.10 €49.08 54
EV/Revenue €14.53 €23.25 €31.97 43
Asset-Based
NCAV (Graham) €5.09 €6.83 €10.19 50
Growth DCF
Growth DCF €21.06 €30.58 €42.88 80
Rev-Margin DCF €15.89 €25.96 €36.62 74
Economic Profit
Residual Income €11.41 €15.69 €60.01 76
ROIC Compounder €11.00 €14.38 €18.08 72
Growth Earnings
Growth-Adj P/E €21.76 €31.09 €40.41 68

Widest divergence: Growth Earnings (€31.09) versus Dividend Discount (€1.62). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €1.9B
Revenue growth (YoY) +5.5%
Net margin 18.5%
Return on equity 18.5%
Free cash flow €520M FY2025
P/E ratio 11.1
More key figures
Operating margin 28.3%
EPS (TTM) €1.80
Dividend yield 4.4%
EPS growth (YoY) +573%
Net debt €1.2B FY2025

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

Quality Score breakdown

Overall quality 74/100

Of which business quality 68 · Market factors (momentum, volatility) 52

Profitability 55
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 91
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 80
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

Springer Nature AG & Co. KGaA, together with its subsidiaries, engages in the publishing business in Germany, the United Kingdom, the United States, and internationally. The company operates through three segments: Research, Education, and Health.

Full company description

Springer Nature AG & Co. KGaA, together with its subsidiaries, engages in the publishing business in Germany, the United Kingdom, the United States, and internationally. The company operates through three segments: Research, Education, and Health. It offers journals across various academic disciplines under the Nature Portfolio and Springer brand names; books in print and digital formats across various scientific disciplines, including monographs, textbooks, conference proceedings, handbook series, reference works, and briefs under the Springer and Palgrave Macmillan brand names; and support services to researchers, institutions, and industry professionals with AI-powered tools and services, such as AdisInsight, Springer Nature Experiments, protocols.io, and SpringerMaterials, as well as professional development and career services under the Nature Masterclasses, Nature Careers, and Nature Conferences brand names. The company also provides English language teaching content and national curricula learning resources under the Macmillan Education brand name. In addition, it offers specialist information and services to healthcare professionals under the Springer Medizin brand name; publications, learning solutions, and professional services to healthcare practitioners and students under the BSL brand name; content and services related to drug treatments, medical devices, and diagnostics under the Springer Health+ brand name; and Cureus Journal of Medical Science, a peer-reviewed OA medical journal. The company was founded in 1842 and is based in Berlin, Germany. Springer Nature AG & Co. KGaA operates as a subsidiary of GvH Vermögensverwaltungsgesellschaft Xxxiii mbH.

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

Revenue & earnings trend

FY2023 – FY2025 · reported fiscal years

Springer Nature AG reported revenue of €1.9B in FY2025 versus €1.9B in FY2023, a compound +2.0%/yr. Reported net income was €356M in FY2025, compounding +379.0%/yr from FY2023.

Growth Quality 77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€1.9B
Latest YoY
+4.3%
Revenue +2.0%/yr
FY23 €1.9B
FY24 €1.8B
FY25 €1.9B
Net income +379.0%/yr
FY23 €15.5M
FY24 €68.3M
FY25 €356M

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Cite: Fair Value Calculator (2026). "Springer Nature AG Fair Value". https://www.fairvalue-calculator.com/stock/SPG.XETRA

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Publishing · 111 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 74 · Top 25%
Fair Value upside +53% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 18% · Top 25%
Operating margin (TTM) 28% · Top 25%
Revenue growth 6% · Top 25%
Dividend yield (TTM) 4.4% · Above median
Debt / equity 0.70× · Higher than 75% of peers

Valuation Multiples vs Publishing median · lower = cheaper

P/E (TTM) 11.1× · Cheaper than median
P/B 2.21× · Pricier than 75% of peers
P/S (TTM) 2.33× · Pricier than 75% of peers
P/FCF 8.6× · Pricier than 75% of peers
EV/EBITDA 8.0× · 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 100 · sector 38
FUTURE 28 · sector 0
PAST 74 · sector 21
HEALTH 65 · sector 100
DIVIDEND 87 · sector 57

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.

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Frequently asked questions

Is Springer Nature AG (SPG) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €30.50 versus a price of €19.98, about +53% (undervalued).
What is the fair value of SPG?
Our model-based fair value for Springer Nature AG is €30.50 (as of Aug 13, 2026), built from audited fundamentals. The current price is €19.98.
What is the quality score of SPG?
Springer Nature AG has a Quality Score of 74/100. 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 Springer Nature AG (SPG)?
Springer Nature AG reported trailing-twelve-month revenue of about €1.9B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SPG?
The net profit margin of Springer Nature AG is about 18.5%, meaning it keeps roughly 18.5% of revenue as net income. Based on the latest reported figures.
Does Springer Nature AG pay a dividend?
Springer Nature AG currently shows a dividend yield of about 4.19% relative to its recent price (as of Aug 13, 2026).

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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