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MBB SEFRA:MBB +0.11%93 Owner Earnings per Share (TTM) is 28.85 as of Mar. 2026, which is 129% above its 10-year median of 12.59. GuruFocus rates FRA:MBB with a GF Score™ of 93/100 and a GF Value™ of €132.47 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 300 Conglomerates companies, MBB SE ranks better than 69.33% on this metric.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
MBB SE's Owner Earnings per Share (TTM) ended in Mar. 2026 was €28.85. It's Price-to-Owner-Earnings ratio for today is 6.52.
The historical rank and industry rank for MBB SE's Owner Earnings per Share (TTM) or its related term are showing as below:
FRA:MBB'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 5.15 Med: 12.59 Max: 158.02
Current: 6.52
During the past 13 years, the highestPrice-to-Owner-Earnings ratio of MBB SE was 158.02. The lowest was 5.15. And the median was 12.59.
FRA:MBB's Price-to-Owner-Earnings is ranked better than 69.33% of 300
companies
in the Conglomerates industry
Industry Median: 10.975
vs FRA:MBB: 6.52
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
MBB SE Owner Earnings per Share (TTM) Related Terms
MBB SE Owner Earnings per Share (TTM) Historical Data
* Premium members only.
The historical data trend for MBB SE's Owner Earnings per Share (TTM) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:MBB vs MMM, HON: Owner Earnings per Share (TTM) Comparison
For the Conglomerates subindustry, MBB SE's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
MBB SE Price-to-Owner-Earnings vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, MBB SE's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where MBB SE's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income.
MBB SE's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2026 was €0 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = €40 Mil
It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.
The following shows how to get maintenance capital expenditure.
First, calculate the revenue change regarding to the previous quarter. If the revenue decreased from the previous quarter, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous quarter, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.
MBB SE's 5-Year Average Maintenance Capital Expenditure = €40 Mil
5. "Change In Working Capital" is from cashflow statement. MBB SE's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2026 was €85 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Owner Earnings per Share (TTM) of 28.85 mean?
MBB SE (FRA:MBB) has a Owner Earnings per Share (TTM) of 28.85 as of Mar. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on MBB SE. This is 129% above median its historical median of 12.59. Over the past decade, MBB SE's Owner Earnings per Share (TTM) has ranged from 5.15 to 158.02. According to the industry distribution chart, MBB SE ranks #92 out of 300 companies in the Conglomerates industry, placing it in the top 30.7%.
Is MBB SE's Owner Earnings per Share (TTM) too high?
MBB SE's current Owner Earnings per Share (TTM) of 28.85 is 129% above median its 10-year median of 12.59. Over the past 10 years, this metric has ranged from a low of 5.15 to a high of 158.02. The Conglomerates industry median Owner Earnings per Share (TTM) is 10.98. MBB SE's value of 28.85 is 162.9% above this industry median. Based on the distribution chart, MBB SE ranks #92 out of 300 companies in the Conglomerates industry, which is above the industry midpoint. Overall, MBB SE has a GF Score™ of 93/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does MBB SE's Owner Earnings per Share (TTM) compare to MMM and HON?
According to the Conglomerates industry distribution chart, MBB SE ranks #92 out of 300 companies for Owner Earnings per Share (TTM). This puts MBB SE in the upper half of its industry. The industry median Owner Earnings per Share (TTM) is 10.98. MBB SE's value of 28.85 is 162.9% above this benchmark. Historically, MBB SE's own Owner Earnings per Share (TTM) has ranged from 5.15 to 158.02 over the past decade. While the company's 10-year median is 12.59 vs. the industry median of 10.98, MBB SE has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Owner Earnings per Share (TTM) for a Conglomerates company?
The median Owner Earnings per Share (TTM) among Conglomerates companies is 10.98, based on 300 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MBB SE's current Owner Earnings per Share (TTM) of 28.85 is 162.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on MBB SE. For the Conglomerates industry, the median Owner Earnings per Share (TTM) is 10.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MBB SE's current Owner Earnings per Share (TTM) is 28.85, which is 129% above median its own 10-year median of 12.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MBB SE stock overvalued right now?
Based on GuruFocus' analysis, MBB SE (FRA:MBB) is currently considered Significantly Overvalued. The stock's GF Value™ is €132.47, compared to a current price of €188.20 — trading 42.1% above its estimated fair value. The current Owner Earnings per Share (TTM) is 28.85, which is 129% above median its 10-year median of 12.59 and 162.9% above the Conglomerates industry median of 10.98. MBB SE's overall GF Score™ is 93/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For MBB SE (FRA:MBB), the current Owner Earnings per Share (TTM) is 28.85 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is MBB SE (FRA:MBB) Overvalued in 2026?
Based on GuruFocus' analysis, MBB SE stock appears to be overvalued.
The current stock price of €188.20 is trading 42.1% above its estimated GF Value™ of €132.47.
GuruFocus considers MBB SE to be Significantly Overvalued.
Key valuation signals for FRA:MBB:
Owner Earnings per Share (TTM): 28.85 (129% above median its 10-year median of 12.59)
GF Value™: €132.47 vs. price of €188.20 (42.1% above fair value)
Industry Position: 162.9% above the Conglomerates median (#92 of 300)
No single metric tells the full story. See the FRA:MBB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MBB SE is a medium-sized, family-owned company specializing in the acquisition and management of medium-sized industrial companies with considerable technology and engineering expertise. It concentrates on energy transition, e-mobility, cybersecurity, and ecological materials through its subsidiaries. The MBB Group comprises the following reportable segments: Friedrich Vorwerk, Aumann, DTS, Delignit. Aumann AG: Specialized in e-mobility and automation, Friedrich Vorwerk: Focused on energy infrastructure, including gas, power grids, and hydrogen. DTS IT AG: Provides cybersecurity and cloud computing services. Delignit AG: Produces ecological hardwood-based materials and Hanke Tissue: Produces consumer goods like mattresses and tissue paper.
93GF Score
Get the complete analysis for FRA:MBB
Owner Earnings per Share (TTM) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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