Accelleron Industries AG

ZH2.F · Industrials · Specialty Industrial Machinery · Valued as of 2026-11-05 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

3.73B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

5.71B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

2.80B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

4.08B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

8.33B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.49×

the ratio the screener ranks by

Margin of Safety

-104.2%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 3.73B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)3.32B USD
−②Net Debt Today324.30M USD
+③Growth Value734.92M USD
=Value3.73B USD

EPV of the Operations (NOPAT over WACC)

3.32B USD

Net debt today

-324.30M USD

Growth Value

+734.92M USD

Value

3.73B USD

①EPV (Earnings Power Value)

3.32B USD

②Net Debt Today

324.30M USD

③Growth Value

734.92M USD

Market value

Market Cap8.33B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-123.3%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 5.71B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE4.16B USD
+②Equity at Year 15, Today1.55B USD
=Value5.71B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

4.16B USD

②Equity at Year 15, Today

1.55B USD

Market value

Market Cap8.33B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-45.9%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 2.80B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF2.35B USD
+②Invested Capital at Year 15, Today767.87M USD
−③Net Debt Today324.30M USD
=Value2.80B USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

2.35B USD

②Invested Capital at Year 15, Today

767.87M USD

③Net Debt Today

324.30M USD

Market value

Market Cap8.33B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-197.8%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 6.37%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.38×Market Risk Premium 6.00%= 6.80%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 58.90M USDPretax Income 302.88M USD= 19.45%

The tax the interest saves.

Interest Expense =EBIT 303.17M USD−Pretax Income 302.88M USD= 292.29K USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 292.29K USDTotal Debt 577.42M USD×(1 − Tax Rate for WACC 19.45%)= 0.04%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 577.42M USDMarket Cap + Total Debt 8.33B USD + 577.42M USD= 6.48%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 93.52%×Cost of Equity 6.80%+Debt Weight 6.48%×Cost of Debt 0.04%= 6.37%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 1.50B USD − Total Liabilities 1.05B USD = Book Value Today 455.30M USD

Total Debt 577.42M USD − Cash and Short-Term Investments 253.12M USD = Net Debt Today 324.30M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 10.3%at most 5%passes94,046,249 / 93,763,143
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets2.6%at least -10.0%passes(272.95M USD − 233.16M USD) ÷ 1.50B USD
Price to bookMarket Cap ÷ Book Value Today18.30×at most 3×does not pass8.33B USD ÷ 455.30M USD
Operating marginOperating Income ÷ Revenue24.0%above 10.0%passes303.17M USD ÷ 1.26B USD
Revenue growthRevenue ÷ Revenue a Year Before − 123.5%above 10.0%passes1.26B USD / 1.02B USD
Net cash(Cash − Total Debt) ÷ Market Cap-3.9%above -30%passes(253.12M USD − 577.42M USD) ÷ 8.33B USD
Operating efficiencyOperating Income ÷ Gross Profit54.8%above 25.0%passes303.17M USD ÷ 553.60M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

78.88 EUR

Enterprise value

7.77B EUR

the provider's own figure

EV / EBITDA

19.42×

Price / book

17.95×

the provider's book

Price / earnings

31.39×

Return on equity

68.3%

the provider's figure, not this page's

Profit margin

19.2%

Revenue growth

21.3%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

781.32M915.77M1.02B1.26B

Gross profit

353.18M386.32M471.66M553.60M

Operating income

157.20M141.45M238.11M303.17M

EBITDA

operating income before depreciation and amortisation

179.96M171.61M274.45M342.62M

Pretax income

156.64M137.32M226.02M302.88M

Net income

122.92M101.31M170.27M233.16M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

122.92M101.31M170.27M233.16M

R&D

51.14M57.51M58.29M67.95M
Balance sheet, year end (USD)2022202320242025

Total assets

982.53M1.21B1.23B1.54B

Total liabilities

685.73M904.80M885.45M1.04B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

284.07M287.57M332.19M477.69M

Total debt

351.25M519.14M521.86M590.35M

Cash and equivalents

189.55M234.29M272.79M356.34M

Net PP&E

fixed assets after depreciation

177.72M223.43M238.56M292.19M

Working capital

current assets less current liabilities

328.84M436.80M465.52M608.93M
Cash flow (USD)2022202320242025

Operating cash flow

133.52M145.34M216.34M272.95M

Capital expenditure

paid out, so below zero

-34.46M-36.24M-38.56M-58.86M

Depreciation and amortisation

22.77M30.16M36.34M39.44M

Free cash flow

operating cash flow plus capital expenditure

99.06M109.10M177.78M214.09M