4 models fit Westwing Group SE and they disagree: 1 of 4 land within 15% of the average.
Two or more of our models back this value.
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Valued as a cyclical company: P/E comparison, EV/EBITDA comparison, Discounted cash flow, and Graham number.
ACCE opinionWestwing Group SE (WEW.DE)
Fair value (4 models)
€11.64
ACCE price target
€14.80
Rating
Overvalued
Horizon
12 months
Fair value published on 22 Oct 2026, 14:04 CEST.
ACCE price target published on 23 Oct 2026, 01:53 CEST.
Price used: €13.05 at the close on 23 Oct 2026, 17:30 CEST.
Models: Discounted cash flow, 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
12.1% above
-10.8% to fair value
ACCE score
71
out of 100
P/E
10.5x
forward 8.8x
1-year return
+11.1%
Dividend yield
0.00%
Westwing Group SE in four questions
Plain answers, details below
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Overview
ACCE thesis
Westwing Group sells home furnishings, decor and kitchenware online through its own e-commerce platform and a branded catalogue across Germany and several European markets, with a 53.1% gross margin that points to a curated, mostly own-brand range rather than marketplace resale. Revenue is growing 13.9% while the company is still only just below break-even at the operating line (-1.3% margin), so the investment case rests on operating leverage reaching the bottom line rather than on any reported profit today. At a trailing P/E of 10.2 and a forward P/E of 8.6, the market is pricing in a meaningful earnings step-up, and a 32.5% ROE on a 239M EUR market cap says the equity base is being used productively. The thesis depends on whether the gap between top-line growth and margin turns positive, and that is the first question a deeper look should answer, using the operating cost base and marketing spend per order.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Operating margin negative
Operating margin is -1.3% while net margin is +4.9%, so the reported profit leans on non-operating items rather than the core business. Earnings up 1487.6% YoY off a weak base looks inflated.
moderate
Weak five-year revenue growth
Five-year revenue CAGR is only +0.7%. The 13.9% YoY rise is a single-year recovery rather than a durable trend.
moderate
Heavy insider ownership
Insiders hold 40.0% of the shares, which concentrates control and limits free float, so liquidity and price discovery may be thinner than the market cap suggests.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-10-22 · prices to Oct 23, 2026
Why it could do well
Revenue grew 13.9% year over year in the latest interim report, well above its 0.7% five-year average.
Free cash flow over the last twelve months reached EUR 34M, and the diluted share count fell 5.9% last fiscal year.
Trailing and forward earnings multiples of 10.4x and 8.8x sit far below the sector median forward P/E of 17.5x.
Why it could disappoint
Net margin is only 4.9%, so most of the new revenue does not reach shareholders as profit.
The consensus model fair value of €11.64 sits 12.1% below the share price of €13.05, after all four models were included.
At €13.05 the price implies cash flow growth of 11.2% a year forever, which is a demanding assumption to make.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 5, 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 WEW.DE's valuation models land
Price
€13.05
Model fair value
€11.64
Model range
€4.88 to €20.19
Fair value €11.64
Price €13.05
The price sits inside the model range.
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
Graham number
P/E comparison
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