3 models fit Basler Aktiengesellschaft and they disagree: 0 of 3 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Large premium(i)Bronze57
Valued as a cyclical company: P/E comparison, EV/EBITDA comparison, Discounted cash flow, and Graham number.
ACCE opinionBasler Aktiengesellschaft (BSL.DE)
Fair value (3 models)
€8.38
ACCE price target
€22.10
Rating
Overvalued
Horizon
12 months
Fair value published on 22 Oct 2026, 14:04 CEST.
ACCE price target published on 23 Oct 2026, 01:52 CEST.
Rating published on 22 Oct 2026, 14:04 CEST.
Price used: €20.45 at the close on 23 Oct 2026, 17:30 CEST.
Models: P/E comparison, EV/EBITDA comparison, and Graham number.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
144.0% above
-59.0% to fair value
ACCE score
71
out of 100
P/E
21.8x
forward 17.6x
1-year return
+11.4%
Dividend yield
0.51%
Basler Aktiengesellschaft in four questions
Plain answers, details below
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Overview
ACCE thesis
Basler AG makes industrial machine-vision cameras, the image sensors and embedded vision components that sit on factory lines, in logistics sorting systems and in medical imaging, and it is headquartered in Ahrensburg near Hamburg. The moat is in the niche: its cameras are built into OEM machines where switching costs are high, and a gross margin of 49.1% is a sign that customers pay for performance rather than price. Revenue growth of 43.7% is the number that stands out, and the business is converting it into returns, with ROE at 20.3% and an operating margin of 13.6%. The stock trades at 21.9x trailing and 17.7x forward earnings, so the market is pricing in continued expansion rather than a cyclical peak, which makes the sustainability of that 43.7% the central question for a deeper look. With a market cap of roughly 634M EUR and no index membership, it is a small, under-covered name where the diligence would need to establish how much of the recent growth is structural factory automation demand versus restocking or one-off project wins.
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
moderate
Insider concentration
Insiders hold 57.4% of the shares, leaving 22.2% institutional and a thin free float that can amplify price moves in either direction.
moderate
Rich valuation for growth
EV/EBITDA of 30.4 and P/E of 23.7 are demanding for a business with a 5-year revenue CAGR of 5.7%, so one strong year (revenue +43.7%) is carrying the multiple.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 43.7% year over year in the latest interim report, far faster than its 5.7% average annual pace over five years.
The company converts earnings into cash well, with free cash flow of EUR 28M over the last twelve months and a 4.2% free cash flow yield.
Analysts' mean price target of EUR 29.67 sits 41.9% above the current share price, suggesting they see upside.
Why it could disappoint
Return on invested capital is only 4.8%, weak for money the business has tied up in its operations.
The latest quarter missed badly, with earnings per share of -0.11 against 0.04 expected, a surprise of -369.8%.
Shareholders are being diluted, as the diluted share count rose 1.9% last fiscal year, shrinking each share's claim on profits.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 4, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where BSL.DE's valuation models land
Price
€20.45
Model fair value
€8.38
Model range
€5.89 to €12.59
Fair value €8.38
Price €20.45
The price is above the whole model range.
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
Graham number
P/E comparison
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Analysts
Wall Street consensus
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