Scout24 (XTRA:G24) Could Be 46% Undervalued As Strong Earnings Land

What Scout24’s latest earnings event means for shareholders

Scout24 (XTRA:G24) reported its second quarter and half year 2026 results on 6 August, giving investors fresh detail on revenue, profits and earnings per share from its real estate marketplace business.

The company reported second quarter revenue of €199.66 million and net income of €63.17 million. For the first six months, revenue was €385.23 million, with net income of €131.68 million and basic earnings per share of €1.87.

See our latest analysis for Scout24.

Scout24’s latest earnings update arrives after a mixed share price performance, with the stock at €74.40 and a 1 day share price return of 3.62% but a year to date share price return that is down 11.85%. Over a longer horizon, total shareholder return is down 35.6% over the past year, although the 3 year total shareholder return of 26.89% and 5 year total shareholder return of 16.05% show that longer term holders have still seen gains overall. This may shape how investors interpret today's results and reassess the balance between growth potential and perceived risk.

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After Scout24’s solid earnings and a share price that is still down over the past year, investors face a decision: is the recent move already pricing in the good news, or could patience still offer a better entry point?

Most Popular Scout24 Narrative: 45.6% Undervalued

Compared with the last close at €74.40, the most followed narrative puts Scout24’s fair value near €136.89, which is a much higher figure and rests on a specific view of its earnings power and cash flows using a 6.89% discount rate.

The ongoing shift in consumer behavior toward end-to-end digital property solutions is expected to create outsized upside, with Scout24's dominance in digital renter and homeowner onboarding, combined with conversational AI tools like HeyImmo, set to capture a disproportionately large share of this digitally expanding addressable market, driving sustained double-digit growth in both customers and revenue.

Read the complete narrative.

Want to see why this narrative backs such a large gap to today’s price? It leans on faster revenue compounding, rising margins and a richer earnings multiple.

Result: Fair Value of €136.89 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, investors in Scout24 still need to watch for tighter housing regulation in Germany and rising competition from other digital property platforms, which could challenge this positive outlook.

Find out about the key risks to this Scout24 narrative.

Another View on Scout24’s valuation

The bullish narrative around Scout24 leans heavily on earnings power and higher future multiples. In contrast, our DCF model signals caution and points to a fair value of €62.35, which is below the current price of €74.40. That result implies Scout24 could be trading on the expensive side. Consider which framework fits better with your own expectations for the business.

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Scout24 for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 263 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.

Next Steps

With mixed signals around Scout24 in this update, it makes sense to check the numbers yourself and decide how much weight to give each argument. To see both sides of the story in one place, review the 3 key rewards and 1 important warning sign

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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