| Banking Institution | Analyst | Date | Rating |
|---|---|---|---|
| Baader Bank | Vitushan Vijayakumar | May 26 | Buy |
| Bankhaus Metzler | Alexander Neuberger | Mar 26 | Buy |
| Bank of America | Uma Samlin | May 26 | Sell |
| Barclays | Timothy Lee | May 26 | Buy |
| Berenberg | Fraser Donlon | May 266 | Buy |
| Bernstein | Philippe Lorrain | May 26 | Buy |
| BNP Paribas Exane | Christoph Blieffert | May 26 | Buy |
| Deutsche Bank | Lars Vom-Cleff | May 26 | Hold |
| DZ Bank | Thorsten Reigber | May 26 | Hold |
| Goldman Sachs | Ope Otaniyi | May 26 | Buy |
| Keplercheuvreux | Craig Abbott | May 26 | Buy |
| LBBW | Stefan Maichl | May 26 | Buy |
| Morningstar | Matthew Donen | Feb. 26 | Hold |
| mwb Research | Abed Jarad | May 26 | Buy |
| ODDO BHF | Hela Zarrouk | May 26 | Buy |
| RBC | Sebastian Künne | May 26 | Hold |
| UBS | Olivier Calvet | May 26 | Buy |
| Warburg Research | Christian Cohrs | Mar 26 | Buy |
| Banking Institution | Baader Bank |
| Analyst | Vitushan Vijayakumar |
| Date | May 26 |
| Rating | Buy |
| Banking Institution | Bankhaus Metzler |
| Analyst | Alexander Neuberger |
| Date | Mar 26 |
| Rating | Buy |
| Banking Institution | Bank of America |
| Analyst | Uma Samlin |
| Date | May 26 |
| Rating | Sell |
| Banking Institution | Barclays |
| Analyst | Timothy Lee |
| Date | May 26 |
| Rating | Buy |
| Banking Institution | Berenberg |
| Analyst | Fraser Donlon |
| Date | May 266 |
| Rating | Buy |
| Banking Institution | Bernstein |
| Analyst | Philippe Lorrain |
| Date | May 26 |
| Rating | Buy |
| Banking Institution | BNP Paribas Exane |
| Analyst | Christoph Blieffert |
| Date | May 26 |
| Rating | Buy |
| Banking Institution | Deutsche Bank |
| Analyst | Lars Vom-Cleff |
| Date | May 26 |
| Rating | Hold |
| Banking Institution | DZ Bank |
| Analyst | Thorsten Reigber |
| Date | May 26 |
| Rating | Hold |
| Banking Institution | Goldman Sachs |
| Analyst | Ope Otaniyi |
| Date | May 26 |
| Rating | Buy |
| Banking Institution | Keplercheuvreux |
| Analyst | Craig Abbott |
| Date | May 26 |
| Rating | Buy |
| Banking Institution | LBBW |
| Analyst | Stefan Maichl |
| Date | May 26 |
| Rating | Buy |
| Banking Institution | Morningstar |
| Analyst | Matthew Donen |
| Date | Feb. 26 |
| Rating | Hold |
| Banking Institution | mwb Research |
| Analyst | Abed Jarad |
| Date | May 26 |
| Rating | Buy |
| Banking Institution | ODDO BHF |
| Analyst | Hela Zarrouk |
| Date | May 26 |
| Rating | Buy |
| Banking Institution | RBC |
| Analyst | Sebastian Künne |
| Date | May 26 |
| Rating | Hold |
| Banking Institution | UBS |
| Analyst | Olivier Calvet |
| Date | May 26 |
| Rating | Buy |
| Banking Institution | Warburg Research |
| Analyst | Christian Cohrs |
| Date | Mar 26 |
| Rating | Buy |
Summary FY 2026.
| FY 2026 | Share price | ||||
|---|---|---|---|---|---|
| Sales Revenues |
Growth | EBIT | EBIT margin |
Fair Value | |
| Minimum | 1.326 | 5% | 322 | 24% | 585 |
| Maximum | 1.368 | 9% | 355 | 26% | 1.45 |
| Median | 1.349 | 7% | 347 | 26% | 803 |
| Average | 1.348 | 7% | 345 | 26% | 787 |
| FY 2026 | Sales Revenues |
| Growth | |
| EBIT | |
| EBIT margin |
|
| Share price | Fair Value |
| Minimum | |
| FY 2026 | 1.326 |
| 5% | |
| 322 | |
| 24% | |
| Share price | 585 |
| Maximum | |
| FY 2026 | 1.368 |
| 9% | |
| 355 | |
| 26% | |
| Share price | 1.45 |
| Median | |
| FY 2026 | 1.349 |
| 7% | |
| 347 | |
| 26% | |
| Share price | 803 |
| Average | |
| FY 2026 | 1.348 |
| 7% | |
| 345 | |
| 26% | |
| Share price | 787 |
in mEUR.
Status: 08.05.2026
Summary FY 2027.
| FY 2027 | Share price | ||||
|---|---|---|---|---|---|
| Sales Revenues |
Growth | EBIT | EBIT margin | Fair Value | |
| Minimum | 1.397 | 5% | 352 | 25% | 585 |
| Maximum | 1.498 | 10% | 388 | 26% | 1.045 |
| Median | 1.447 | 7% | 376 | 26% | 803 |
| Average | 1.448 | 7% | 374 | 26% | 787 |
| FY 2027 | Sales Revenues |
| Growth | |
| EBIT | |
| EBIT margin | |
| Share price | Fair Value |
| Minimum | |
| FY 2027 | 1.397 |
| 5% | |
| 352 | |
| 25% | |
| Share price | 585 |
| Maximum | |
| FY 2027 | 1.498 |
| 10% | |
| 388 | |
| 26% | |
| Share price | 1.045 |
| Median | |
| FY 2027 | 1.447 |
| 7% | |
| 376 | |
| 26% | |
| Share price | 803 |
| Average | |
| FY 2027 | 1.448 |
| 7% | |
| 374 | |
| 26% | |
| Share price | 787 |
in mEUR.
Status: 08.05.2026
Summary FY 2028.
| FY 2028 | Share price | ||||
|---|---|---|---|---|---|
| Sales Revenues |
Growth | EBIT | EBIT margin | Fair Value | |
| Minimum | 1.471 | 5% | 371 | 25% | 585 |
| Maximum | 1.633 | 9% | 426 | 27% | 1.045 |
| Median | 1.560 | 8% | 406 | 26% | 803 |
| Average | 1.556 | 7% | 405 | 26% | 787 |
| FY 2028 | Sales Revenues |
| Growth | |
| EBIT | |
| EBIT margin | |
| Share price | Fair Value |
| Minimum | |
| FY 2028 | 1.471 |
| 5% | |
| 371 | |
| 25% | |
| Share price | 585 |
| Maximum | |
| FY 2028 | 1.633 |
| 9% | |
| 426 | |
| 27% | |
| Share price | 1.045 |
| Median | |
| FY 2028 | 1.560 |
| 8% | |
| 406 | |
| 26% | |
| Share price | 803 |
| Average | |
| FY 2028 | 1.556 |
| 7% | |
| 405 | |
| 26% | |
| Share price | 787 |
in mEUR.
Status: 08.05.2026
RATIONAL flotation - facts and figures.
Share volume after flotation
11,370,000 shares (incl. greenshoe)
Number of shares issued
2.5 million incl. greenshoe, 185,000 from approved capital
Dividend payout policy
RATIONAL plans to distribute dividends to the value of about 50 percent of annual surplus, starting in fiscal year 2000.
Share distribution after flotation (incl. greenshoe)
Existing shareholders 73,63 percent
Freefloat 26,37 percent
Capital stock:
- before flotation 10,000,000 Euro
- capital increase 1,370,000 Euro (incl. greenshoe)
- after flotation 11,370,000 Euro (incl. greenshoe)
Consortiums:
- Investmentbank Schroders (managers)
- HypoVereinsbank, Co-Lead
- Sal. Oppenheim Landesbank Baden-Württemberg
Preliminary offering circular.
| Download | Tamaño | Tipo de archivo | |
|---|---|---|---|
| Preliminary offering circular | 0.84 MB |
