Innerer-Wert-Rechner

Intrinsic value is the true underlying worth of a stock based on its fundamentals — earnings, cash flows, growth, and risk. It is the price a rational investor would pay if they knew the company's entire future financial picture.

Unlike market price, which can be swayed by emotion, momentum, and short-term news, intrinsic value is anchored in measurable financial data. When the market price falls below intrinsic value, the stock may be undervalued.

Our calculator runs 7 independent valuation models — DCF, Graham, P/E, P/S, DDM, EV/EBITDA, and Dividend Yield — to give you a consensus fair value with confidence score.

1. Search for a ticker above (e.g. AAPL) or enter financial data manually.
2. Review the core inputs: EPS, Free Cash Flow, Shares Outstanding, Growth Rate, and Discount Rate.
3. Optionally adjust extended inputs for all 7 valuation models.
4. Click "Calculate Fair Value" to run the models and see the AI consensus.
5. Compare the calculated fair value to the current market price to determine if the stock is undervalued, fair, or overvalued.

Different companies suit different models. Here is a quick guide:

DCF (Discounted Cash Flow)

Am besten: Unternehmen mit stabilem Free Cash Flow

Graham Formula

Am besten: Unternehmen mit langer Gewinngeschichte

P/E Multiplier

Am besten: Unternehmen mit klarer KGV-Historie

EV/EBITDA

Am besten: Kapitalintensive Unternehmen, bei denen die Verschuldung wichtig ist

The DCF model calculates intrinsic value by summing the present value of all future free cash flows plus a terminal value. It is the gold standard for valuing cash-flow-generating businesses.

Formula:

Where FCF = Free Cash Flow, g = growth rate, r = discount rate (WACC), TV = Terminal Value = FCF_n * (1+g_terminal) / (r - g_terminal)

Example: A company with $1B FCF, 8% growth, 9% WACC, and 2.5% terminal growth yields a fair value per share of ~$142 after adjusting for debt and cash.

Benjamin Graham's formula estimates intrinsic value using earnings per share, expected growth, and the current AAA corporate bond yield. It is simple, conservative, and battle-tested since 1962.

Formula:

Where EPS = Earnings Per Share, g = expected growth rate (%), Y = current AAA bond yield (%).

Example: A stock with $5 EPS, 8% expected growth, and 4.4% AAA yield yields a fair value of $5 * (8.5 + 16) * (4.4 / 4.4) = $122.50.

Hier ist eine Zusammenfassung aller 7 Formeln, die unser Rechner verwendet:

DCF:

Fair Value = PV(FCF) + Terminal Value - Net Debt / Shares

Graham:

FV = EPS * (8.5 + 2g) * (4.4 / Y)

P/E:

FV = Avg P/E * EPS

P/S:

FV = Avg P/S * Revenue / Shares

DDM:

FV = DPS * (1 + g) / (r - g)

EV/EBITDA:

FV = (EV/EBITDA * EBITDA - Debt + Cash) / Shares

Div Yield:

FV = DPS / Avg Dividend Yield

Die Sicherheitsmarge ist der Abschlag zwischen dem berechneten fairen Wert und dem aktuellen Marktpreis.

Faustregel: Suchen Sie nach einer Sicherheitsmarge von mindestens 20-30% für unterbewertete Aktien.

Gehen wir Apple (AAPL) mit realen Annäherungen durch:

• EPS = $6.50
• FCF = $100B
• Ausstehende Aktien = 15,5B
• Wachstumsrate = 6%
• Diskontsatz (WACC) = 8,5%

DCF Fair Value pro Aktie ≈ $142 Graham Fair Value ≈ $175

Dies sind illustrative Schätzungen. Bitte mit den neuesten Finanzdaten verifizieren.