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TeamViewer AG (TMV) Fair Value & Analysis

Technology · DE · Market cap €902M · ISIN DE000A2YN900

What is TeamViewer AG really worth?

TA TeamViewer AG TMV · XETRA
Price€6.86
Fair Value€16.57
Upside+141.7%
Quality64/100

A solid business, trading 59% below our fair value of €16.57.

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Strengths

Healthy Growth (revenue 5y +10.4 %/yr)
Solidly profitable · 16.4% net margin
Ranks above peers (11/14)
Wide moat 80/100

Risks

!High debt · generates free cash flow
!Evidence only medium, so the estimate is less certain
!Weak on future: 13 out of 100
Evidence: Medium Range €10.65 – €20.72

Fair value as of: Aug 30, 2026

From 24 valuation models · updated 6 days ago

Share price +8.0% 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 (€10.65). The market is more pessimistic than our downside scenario.
  • Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€10.65 to €20.72) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

€32.30 €4.20 Fair Value €16.57 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 €4.20 – €32.30 · fair‑value band €10.65 – €20.72 · the €6.86 price screens below the €16.57 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

TeamViewer AG (TMV) currently trades at €6.86, while our model-based Fair Value estimate is €16.57, implying the stock looks roughly 58.6% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of €18.98 per share, and 20 of the 24 models we run sit above the €6.86 price. Bear case: the Multiples group reads lowest at €5.71, and 4 of the 24 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, TeamViewer AG generated revenue of €751M at a net margin of 16.4%. Revenue grew 2.5% year over year. It earns a return on equity of 76.6%. Net debt stands at €901M. Fundamentals as of Aug 30, 2026

Our scenario range runs from €10.65 (bear case) to €20.72 (bull case); at €6.86, 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 36% below its 52-week high and 68% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −38% fair-value upside, at 142%, TMV 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 €0.5278 per share, which is 3.2 % 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.

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 €10.96 €21.36 €41.90 76
Growth DCF €10.54 €21.10 €35.48 76
EPV €5.92 €7.15 €8.18 74
All 24 models by family
DCF Models
FCF DCF €10.96 €21.36 €41.90 76
Owner Earnings €8.99 €18.98 €35.60 72
5Y Revenue Exit €4.42 €8.61 €14.08 70
5Y EBITDA Exit €11.99 €25.15 €42.33 72
5Y P/E Exit €9.33 €19.32 €31.20 68
10Y Revenue Exit €6.57 €11.39 €18.55 65
10Y EBITDA Exit €11.40 €22.84 €41.43 65
10Y P/E Exit €9.74 €18.81 €32.42 61
Earnings-Based
Graham-Dodd €5.12 €28.76 €39.94 63
Lynch FV €8.05 €11.50 €14.95 61
PEG = 1.0 €8.05 €11.50 €14.95 57
EPV €5.92 €7.15 €8.18 74
Multiples
P/E Multiple €12.43 €16.57 €20.72 63
P/S Multiple €4.28 €5.71 €7.14 58
P/B Multiple €3.15 €4.20 €5.25 55
EV/EBIT €17.53 €24.42 €31.31 66
EV/EBITDA €13.73 €19.35 €24.97 67
EV/Revenue €0.8700 €2.58 €4.30 49
Asset-Based
NCAV (Graham) €0.5300 €0.7000 €1.05 54
Growth DCF
Growth DCF €10.54 €21.10 €35.48 76
Rev-Margin DCF €4.42 €8.65 €14.46 70
Economic Profit
Residual Income €5.16 €8.86 €190.39 58
ROIC Compounder €7.26 €10.44 €14.37 71
Growth Earnings
Growth-Adj P/E €12.34 €17.63 €22.91 67

Widest divergence: DCF Models (€18.98) versus Asset-Based (€0.7000). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 8.8
P/S ratio 1.39 P/E × margin
EPS (TTM) €0.7800 price ÷ EPS = P/E 8.8
Net margin 15.8% FY2025
Return on equity 76.6% TTM
Return on assets (EBIT) 13.6% avg 5y
More key figures
Profitability
Operating margin 33.8% TTM
Growth
Revenue (TTM) €751M TTM
Revenue growth (YoY) +2.5% 3y avg +9.7%
EPS growth (YoY) +14.8%
Balance sheet & cash flow
Free cash flow €193M FY2025
Net debt €901M FY2025 · ≈ 4.7 yrs of FCF

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

Quality Score breakdown

Overall quality 64/100

Of which business quality 61 · Market factors (momentum, volatility) 44

Profitability 63
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 92
Earnings quality: real cash, not paper profit
Fin. Strength 20
Balance sheet, leverage, solvency risk
Investment 58
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 100
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

TeamViewer SE, together with its subsidiaries, provides remote connectivity solutions worldwide. The company offers TeamViewer remote, a remote access, control, and management solution; TeamViewer Tensor, an enterprise connectivity solution for remote support, control and management of enterprise IT, smart devices, and industrial equipment; TeamViewer …

Full company description

TeamViewer SE, together with its subsidiaries, provides remote connectivity solutions worldwide. The company offers TeamViewer remote, a remote access, control, and management solution; TeamViewer Tensor, an enterprise connectivity solution for remote support, control and management of enterprise IT, smart devices, and industrial equipment; TeamViewer Frontline, a digital workflow, instruction, and assistance for smart frontline operations; and TeamViewer Dex, a real-time diagnostics and remediation, monitoring and analytics for insights and AI-driven automation. It also provides augmented reality and mixed reality-based solutions for manual processes in logistics, manufacturing, and aftersales operations. The company was founded in 2005 and is headquartered in Göppingen, Germany.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TeamViewer AG reported revenue of €747M in FY2025 versus €501M in FY2021, a compound +10.5%/yr. Reported net income was €118M in FY2025, compounding +24.0%/yr from FY2021.

Growth Quality 92/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€747M
Latest YoY
+11.2%
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.
+9.7%
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.
+10.4%
Avg. revenue growth/yr (9Y) 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.
+26.2%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+7.7% (7.7 + 0.0)
Revenue +10.5%/yr
FY21 €501M
FY22 €566M
FY23 €627M
FY24 €671M
FY25 €747M
Net income +24.0%/yr
FY21 €50.1M
FY22 €67.6M
FY23 €114M
FY24 €123M
FY25 €118M

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Cite: Fair Value Calculator (2026). "TeamViewer AG Fair Value". https://www.fairvalue-calculator.com/stock/TMV

Peer Group

Software - Application · 691 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 64 · Above median
Fair Value upside +142% · Top 25%
Return on equity (TTM) 77% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 34% · Top 25%
Revenue growth 3% · Below median
Debt / equity 3.23× · Higher than 75% of peers

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 8.8× · Cheaper than 75% of peers
P/B 6.35× · Pricier than 75% of peers
P/S (TTM) 1.39× · Cheaper than median
P/FCF 5.4× · Cheaper than median
EV/EBITDA 5.6× · Cheaper than 75% of peers
PEG 0.54× · Cheaper 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
VALUE100 · sector 0
FUTURE13 · sector 37
PAST100 · sector 12
HEALTH0 · sector 98
DIVIDEND0 · sector 28

Insider activity: 45/100

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAP €191.32 €169.59 −11%
Shopify Inc SHOP C$209.78 C$28.76 −86%
Uber Technologies, Inc UBER $78.82 $43.66 −45%
Salesforce, Inc CRM $252.05 $249.28 −1%
ServiceNow, Inc NOW $138.43 $43.73 −68%
Cadence Design Systems, Inc CDNS $340.39 $112.57 −67%
Snowflake Inc SNOW $329.11 $42.27 −87%
Adobe Inc ADBE $289.15 $454.04 +57%
Automatic Data Processing, Inc ADP $284.68 $177.51 −38%
Intuit Inc INTU $348.00 $363.46 +4%

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Frequently asked questions

Is TeamViewer AG (TMV) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of €16.57 versus a price of €6.86, about +142% upside (undervalued).
What is the fair value of TMV?
Our model-based fair value for TeamViewer AG is €16.57 (as of Aug 30, 2026), built from audited fundamentals. The current price: €6.86.
What is the quality score of TMV?
TeamViewer AG has a Quality Score of 64/100. 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 TeamViewer AG (TMV)?
TeamViewer AG reported trailing-twelve-month revenue of about €751M (latest available figure, as of Aug 30, 2026).
What is the net profit margin of TMV?
The net profit margin of TeamViewer AG is about 16.4%, meaning it keeps roughly 16.4% of revenue as net income. Based on the latest reported figures.
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