olivLaw · European equity research
Fabasoft AG FAA.VI
Austria · Wiener Börse · ISIN AT0000785407 · Vertical: Listed companies from Austria
Fabasoft AG is an Austria-based software company delivering document management, cloud and artificial intelligence solutions, mainly to public administration and corporate clients in the German-speaking region. Its relevance grows as demand rises for digital sovereignty and trusted European solutions, a point the company itself emphasises.
At the close of 05 Nov 2026, Fabasoft AG (FAA.VI) stock was 16.75 EUR (+5.35% on the day), with market capitalisation 177.6 m EUR, P/E 17.3 on diluted EPS of 0.97 EUR over the last 12 months, dividend yield 0.60%, beta 0.07, 52-week range 10.75–27.90 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 58.5
- strong (55–70)
- Bollinger (20, 2)
- 15.62 – 16.61
- above the upper band · %B 1.14 · band width 6.2%
- SMA 50 / 200
- 16.21 / 16.99
- mixed trend
- MACD (12, 26, 9)
- 0.03 / 0.02
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +3.1% | −0.6% | +3.7 pp | — |
| 3 months | +21.4% | −4.2% | +25.5 pp | — |
| 6 months | +46.3% | +4.3% | +42.0 pp | — |
| Year to date | unavailable | +7.5% | unavailable | — |
| 1 year | unavailable | +9.9% | unavailable | +5.4% |
| 3 years | unavailable | +49.8% | unavailable | +8.1% |
| 5 years | unavailable | +42.8% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 3-quarter history (min 28.8, median 33.6, max 34.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 81.0 m | 86.8 m | 90.0 m |
| Revenue YoY | unavailable | +7.3% | +3.7% |
| Net income | 9.1 m | 8.8 m | 10.3 m |
| Net income YoY | unavailable | −3.0% | +16.8% |
| Diluted EPS | 0.83 | 0.80 | 0.97 |
| Diluted EPS YoY | unavailable | −3.6% | +21.2% |
| net % | 11.2% | 10.1% | 11.4% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2026 · 31 Mar 2026
- Cash
- 41.8 m EUR
- Financial debt
- 10.8 m EUR
- Net debt
- -31.1 m EUR
- Equity
- 42.4 m EUR
- Total assets
- 106.7 m EUR
- Debt / equity
- 0.25x
- Current ratio
- 1.47x
- ROE
- 26.2%
- ROA
- 10.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 81.0 m | 86.8 m | 90.0 m | esef· 11 Jun 2026verified |
| Operating income | 13.4 m | 13.3 m | 15.7 m | esef· 11 Jun 2026verified |
| Depreciation & amortisation | 7.9 m | 7.6 m | 7.9 m | esef· 11 Jun 2026verified |
| EBITDA | 21.3 m ≈ | 20.9 m ≈ | 23.5 m ≈ | esef· 11 Jun 2026derived |
| Interest expense | 384.0 k | 537.0 k | 764.0 k | esef· 11 Jun 2026verified |
| Pre-tax income | 13.1 m | 12.9 m | 14.9 m | esef· 11 Jun 2026verified |
| Income tax | 3.5 m | 3.8 m | 4.1 m | esef· 11 Jun 2026verified |
| Net income | 9.1 m | 8.8 m | 10.3 m | esef· 11 Jun 2026verified |
| Diluted EPS | 0.83 | 0.80 | 0.97 | esef· 11 Jun 2026verified |
| Dividend per share | — | 0.10 | 0.10 | esef· 11 Jun 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Cash | 25.1 m | 34.3 m | 41.8 m | esef· 11 Jun 2026verified |
| Receivables | 16.5 m | 13.9 m | 18.0 m | esef· 11 Jun 2026verified |
| Current assets | 44.2 m | 51.0 m | 63.4 m | esef· 11 Jun 2026verified |
| Property, plant & equipment, net | 23.9 m | 36.7 m | — | esef· 10 Jun 2025verified |
| Total assets | 76.3 m | 93.3 m | 106.7 m | esef· 11 Jun 2026verified |
| Accounts payable | 13.7 m | 12.9 m | 13.3 m | esef· 11 Jun 2026verified |
| Short-term debt | 0 | 1.0 m | 901.0 k | esef· 11 Jun 2026verified |
| Long-term debt | 0 | 10.7 m | 9.8 m | esef· 11 Jun 2026verified |
| Current liabilities | 35.5 m | 37.6 m | 43.2 m | esef· 11 Jun 2026verified |
| Equity | 30.6 m | 36.1 m | 42.4 m | esef· 11 Jun 2026verified |
| Shares outstanding at year end | 10.9 m | 11.0 m | 10.6 m | esef· 11 Jun 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 66 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 177.6 m EUR
Key indicators
Coverage and freshness
Score by group
- Quality93
- Returns24
- Balance sheet91
- Valuation33
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 10.72 – 21.57 EUR.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDA10.72 – 13.72 (Mid 12.06)4 companies used · median multiple 4.1x · quartiles 3.5x – 4.9xETS.VI, FKA.VI, PYT.VI, SEM.VI
- Peers: P/E11.10 – 21.57 (Mid 16.23)24 companies used · median multiple 16.7x · quartiles 11.4x – 22.2x1AST.VI, ACAG.VI, AMAG.VI, ANDR.VI, BMAG.VI, CPI.VI, DOC.VI, ETS.VI, EVN.VI, FACC.VI, FQT.VI, MMK.VI, OMV.VI, POS.VI, POST.VI, PYT.VI, ROS.VI, SBO.VI, STR.VI, SWUT.VI, TKA.VI, VER.VI, VOE.VI, WIE.VI
- Dividend discount (DDM)outside the aggregate1.36 – 1.85 (Mid 1.57)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Neutral profile · Score 66/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 91.3% | 100 (vs peers) | 16% |
| Net margin · Quality | 11.4% | 82 (vs peers) | 10% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | -1.3x | 100 (vs peers) | 16% |
| Interest coverage · Balance sheet | 20.5x | 100 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 1.5x | 56 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 17.3x | 46 (vs peers) | 16% |
| EV/EBITDA · Valuation | 6.2x | 20 (vs peers) | 16% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 1.7% | 24 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet91/100 · 3/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality93/100 · 2/3 factors with a value
- Returns· partial24/100 · 1/2 factors with a value
- Valuation33/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Fabasoft AG (FAA.VI). Latest full fiscal year: 2026; data up to 2026-03-31.
Figures computed from the financial statements: revenue 90.0 m EUR in 2026; YoY growth 3.7%; net margin 11.4%; ROE 27.7%; net debt/EBITDA -1.3x.
The estimated value range is 10.91–17.65 EUR per share (median of 2 methods, agreement: same basis (multiples on one peer group, not independent confirmations)); assumptions are illustrative. Against the central value of 14.15 EUR, the price of 16.75 EUR leaves a potential of -15.6% (value / price − 1) and a margin of safety of -18.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 66/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 91.3%
- Net margin: 11.4%
- Net debt / EBITDA: -1.3x
- Interest coverage: 20.5x
What contradicts it
- EV/EBITDA: 6.2x
- Shareholder yield (distributions): 1.7%
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from Austria · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| OMV.VIOmv Aktiengesellschaft | 35.6 bn | 23.4 | 8.9% | 6.3% | −7.2% | +53% / +86% |
| VER.VIVerbund AG | 26.2 bn | 17.6 | 14.7% | 18.6% | −2.8% | +19% / −14% |
| STR.VIStrabag Se | 11.7 bn | 12.8 | 17.2% | 4.9% | +7.4% | +32% / +168% |
| ANDR.VIAndritz AG | 8.1 bn | 17.7 | 19.3% | 5.8% | −5.2% | +33% / +66% |
| VOE.VIvoestalpine AG | 7.1 bn | 17.0 | 5.7% | 2.8% | −4.3% | +12% / +61% |
| EVN.VIEvn AG | 5.5 bn | 12.5 | 6.9% | 14.6% | +3.8% | +15% / +14% |
| ATS.VIAT & S Austria Technologie & Systemtechnik Aktiengesellschaft | 2.5 bn | — | -2.4% | -1.4% | +12.7% | +238% / +346% |
| DOC.VIDO & CO Aktiengesellschaft | 2.4 bn | 22.2 | 24.0% | 4.3% | +7.1% | +12% / +70% |
| CPI.VICPI Europe AG | 2.2 bn | 4.2 | 12.2% | 68.2% | −6.7% | +1% / −17% |
| POST.VIÖsterreichische Post Aktiengesellschaft | 2.2 bn | 16.4 | 18.3% | 4.3% | −2.6% | +6% / +2% |
| WIE.VIWienerberger AG | 1.9 bn | 11.7 | 5.9% | 3.6% | +1.2% | −40% / −32% |
| LNZ.VILenzing Aktiengesellschaft | 1.8 bn | — | -11.8% | -5.2% | −2.3% | −48% / −65% |
| MMK.VIMayr-Melnhof Karton Aktiengesellschaft | 1.3 bn | 17.1 | 3.6% | 1.9% | −4.8% | −21% / −41% |
| POS.VIPorr AG | 1.2 bn | 10.7 | 12.9% | 1.8% | +1.7% | +6% / +167% |
| AMAG.VIAMAG Austria Metall AG | 1.1 bn | 33.4 | 4.7% | 2.3% | +2.1% | +34% / +19% |
| BMAG.VIPIERER Mobility AG | 1.1 bn | 1.8 | 638.9% | 58.9% | −46.3% | +85% / −47% |
| FQT.VIFrequentis AG | 790.7 m | 28.1 | 15.5% | 4.9% | +20.8% | −14% / +111% |
| ETS.VIEuroTeleSites AG | 745.4 m | 22.3 | 8.8% | 11.9% | +3.7% | −6% / +34% |
| AGR.VIAGRANA Beteiligungs-Aktiengesellschaft | 722.9 m | — | -3.6% | -1.2% | −7.9% | −3% / −15% |
| FACC.VIFacc AG | 602.4 m | 28.4 | 9.1% | 2.2% | +11.3% | +22% / +127% |
| ROS.VIRosenbauer International AG | 591.1 m | 11.9 | 17.4% | 3.5% | +9.4% | +35% / +104% |
| 1AST.VIASTA Energy Solutions AG | 467.7 m | 15.5 | 42.3% | 4.3% | +8.3% | unavailable / unavailable |
| SBO.VISbo AG | 456.6 m | 19.4 | 5.2% | 5.2% | −18.8% | +5% / −30% |
| SEM.VISemperit Aktiengesellschaft Holding | 379.1 m | 902.5 | 0.1% | 0.1% | −2.1% | +39% / +28% |
| ACAG.VIAustriacard Holdings AG | 347.8 m | 25.6 | 11.4% | 4.1% | −8.2% | +76% / +65% |
1- and 3-year price returns: for FAA.VI from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 9.82 Total return -41% · Per year -41% | 17.36 Total return 4% · Per year 4% | 26.17 Total return 57% · Per year 57% |
| 3 years | 9.37 Total return -43% · Per year -17% | 18.66 Total return 13% · Per year 4% | 30.90 Total return 87% · Per year 23% |
| 5 years | 8.94 Total return -44% · Per year -11% | 20.06 Total return 23% · Per year 4% | 36.49 Total return 122% · Per year 17% |
- Exit P/E± 4.67
- Net margin± 3.27
- Annual revenue growth± 2.70
- Annual dilution± 0.27
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Fabasoft AG is an Austria-based software company delivering document management, cloud and artificial intelligence solutions, mainly to public administration and corporate clients in the German-speaking region. Its relevance grows as demand rises for digital sovereignty and trusted European solutions, a point the company itself emphasises 1.
SWOT
Strengths
- Recognised market position in electronic file management in the German-speaking area, backed by solid references.
- Portfolio of security and compliance certifications, useful in public procurement and regulated sectors.
- Combination of proprietary products, sovereign cloud and professional services offers an integrated delivery model.
Weaknesses
- Dependence on public-sector clients brings long sales cycles and tougher contract conditions.
- Fixed-price projects can lead to revenue adjustments when progress estimates change.
- International presence remains limited compared with global competitors, narrowing the growth base.
Opportunities
- Demand for digital sovereignty and European solutions could open new public and private contracts.
- Development of AI-based products could generate additional sales within the existing customer base.
- Expansion through partnerships beyond core markets could add medium-term growth.
Threats
- Budget cuts or shifting priorities in administration can delay or cancel important projects.
- Global competitors with greater resources may win contracts through aggressive cloud and AI offers.
- Delivery delays or dependence on third-party technologies could affect market position.
Risks
- Public-sector project riskhigh
Delays, budget changes and strict contract requirements in the public sector can affect timing and value of revenue.
- Estimates on fixed-price projectsmedium
Revenue recognised by progress depends on estimates of total project costs, and deviations can change reported results 1.
- Delivery delaysmedium
Defects or delays in own products or third-party technologies could affect customer trust and competitive position 1.
- Pension-type obligationslow
Severance provisions are sensitive to interest rates and salary growth, according to the sensitivities disclosed in the report 1.
- Minority interestslow
Minority shareholders in key subsidiaries may limit flexibility in cash distribution and strategic decisions.
Investment thesis
What would need to be true (bull case)
- If demand for sovereign cloud and AI solutions continues, Fabasoft could use its certifications and references to win new contracts.
- A higher share of recurring customers could make revenue more predictable if subscriptions and support income grow.
- Mindbreeze and the Fabasphere platform could open additional sales within the existing customer base.
What would break the thesis
- If public budgets shrink, important projects could be postponed or cancelled, weighing on revenue.
- Global competitors with larger resources could make it harder to win contracts in cloud and AI.
- Disclosed delivery delays and uncertain estimates on fixed-price projects could produce volatility in results.
What to watch
- Revenue trend in the Mindbreeze and Fabasoft Schweiz AG segmentsnext 10-K
- Outcomes of public procurement processes in Germany and Austria2027
- Share of recurring revenue in total revenuenext 10-K
- Development of provisions and interest-rate sensitivities2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Fabasoft builds its offer around the Fabasphere platform, a portfolio of software solutions and cloud services covering electronic document management, approvals, contracts and consulting 1. Revenue comes from licences, software updates, cloud services and support, plus professional services for projects. The group includes several subsidiaries, among them Mindbreeze GmbH and Fabasoft Schweiz AG, where significant minority interests exist 1.
The company presents itself as market leader in electronic file management in the German-speaking area and bases its position on extensive certifications, including ISO 27001, ISO 9001 and the BSI C5 attestation 1. Its revenue model combines recurring income (subscriptions, maintenance, hosting) with non-recurring project revenue, so performance also depends on the timing of contracts with public clients 1.
Mindbreeze, part of the group, focuses on intelligent search and artificial intelligence for enterprises, through products such as Mindbreeze InSpire and Insight Workplace 1. This segment complements the Fabasphere offer and opens cross-selling opportunities to existing customers 1.
Segments
Mindbreeze
The Mindbreeze segment centres on information intelligence and generative AI, with a central product, Insight Workplace, used to deliver role-based AI applications and automated workflows 1. The company reports that these solutions are used by large international clients 1.
Fabasphere
Fabasphere is the group's cloud platform, bringing together solutions such as Fabasoft Approve, Contracts, Boards, OneGov and Talents, available in public cloud and government cloud models 1. Its security attestations, including the ISAE 3402 report and the BSI C5 audit, support demand from public clients 1.
Market context
Fabasoft's core market is enterprise and public administration software in Germany, Austria and Switzerland, where public projects have long decision cycles and formal procurement procedures 1. Demand is supported by digitalisation and rising requirements for security, efficiency and interoperability in the cloud 1.
The market for artificial intelligence and sovereign cloud in Europe offers expansion room, but budget pressure in the public sector could slow projects, as the company's own risk disclosures note 1. International expansion relies on partnerships, and its success could depend on how well European certifications are leveraged 1.
Trends
- Digital sovereigntytailwind
Demand for cloud solutions controlled within Europe is growing, and Fabasoft emphasises this positioning, which could support new contracts 1.
- Artificial intelligencetailwind
Embedding generative AI in existing applications could drive upselling within the customer base, though products must be developed continuously 1.
- Public budgetsheadwind
Budget constraints and shifting priorities in administration can delay or reduce projects, as the report warns 1.
- Regulation and compliancemixed
Security requirements and frameworks such as the EU Cloud Code of Conduct may favour certified providers, but they bring ongoing compliance costs 1.
Competitive position
Fabasoft competes with enterprise software and document management vendors, as well as large cloud providers offering similar solutions. Its stated advantages are certifications, data sovereignty and public-sector experience 1.
Competitive pressure is most visible in public projects, where contract terms are becoming tougher and the emergence of new competitors or alternative offers can affect market positions 1.
- MicrosoftMSFT
Cloud and productivity provider that can compete in document management and cloud projects in the public sector.
- OpenTextOTEX
Enterprise information management provider active in similar document and content management markets.
- Hyland Software
Provider of content and process solutions, relevant for administration and corporate clients.
- DropboxDBX
Cloud document services provider that can compete in collaboration and file management.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202611 Jun 2026
- Annual report 202510 Jun 2025
Sources
- [1] Annual report, fiscal year ended 2026-03-31 (ESEF) · SEC / Fabasoft AG · 31 Mar 2026
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.