Edenred SA (EDEN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Edenred SA stock €47.93, price €24.60, upside +94.8%, quality 63 out of 100. Rating: strongly undervalued. Calculated from audited financials with 23 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range €14.45 – €54.28 · fair‑value band €35.95 – €59.91 · the €24.60 price screens below the €47.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Edenred SE operates as a digital platform for services and payments for companies, employees, and merchants worldwide.
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It offers employee benefit solutions, including Ticket Restaurant, a solution that allows employees to take time out for lunch at a partner merchant; Ticket Alimentación, which allows users to pay for groceries in stores and supermarkets; Edenred Regalo, a gift voucher; Ticket CESU, a human services solution; Edenred City, a solution that enables the purchase of staples, such as food and fuel; Welfare Edenred, which employees can use to pay for various services, including access to sports facilities and solutions for their children's educational needs; Edenred Eco, a solution that encourages the purchase of environmentally friendly products in Belgium; and Kadéos Culture in France and Ticket Cultura in Brazil for cultural goods and services, as well as mobility solutions through Edenred Mobility.
The company also offers mobility solutions comprising Ticket Car for employees to pay for fuel and other business travel expenses; Empresarial, which enables companies to control spending to reimburse expense claims; Cintelink, a smart cloud platform for service stations and commercial fleets; UTA Edenred, a fuel card; Ticket Fleet Pro for truck fleet management; Edenred Finance that provides refund services to European transportation companies; The Right Fuel Card, a fuel card manager; and Spirii, a platform for recharging electric vehicles.
In addition, it provides complementary solutions comprising corporate payment, incentive and rewards, salary card solutions; and benefits and engagement programs. Edenred SE was founded in 1962 and is headquartered in Issy-les-Moulineaux, France.
Stock analysis
Edenred SA (EDEN) currently trades at €24.60, while our model-based Fair Value estimate is €47.93, implying the stock looks roughly 49% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €80.08 per share, and 17 of the 23 models we run sit above the €24.60 price.
Bear case: the Dividend Discount group reads lowest at €20.69, and 6 of the 23 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €35.95 (bear) to €59.91 (bull), the price of €24.60 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Edenred SA reported revenue of €2.7B in FY2025 versus €1.6B in FY2021, a compound +14.6%/yr. Reported net income was €521M in FY2025, compounding +13.6%/yr from FY2021.
Key figures
Market cap €5.9B Mid · P/E ratio 10.8 · P/S ratio 2.15 · EPS (TTM) €2.27 · Dividend yield 5.4% · Net margin 18.2% · Return on assets (EBIT) 5.9% (5-year average) · Operating margin 32.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 69 out of 100 (low confidence).
What moves the price
The share trades about 19% below its 52-week high and 70% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −3% fair-value upside, at 95%, EDEN screens cheaper than that median.
Fair Value models
Bear€35.95Fair Value €47.93Bull€59.91
Price €24.60 · Upside +94.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.8061 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.9%
Start year 2020 (pandemic). Over 10 years: +10.6% a year
Revenue growth 18 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−5.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+18.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.9%
Dividend (yield on the price)5.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.12.9% vs 11.1%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.29% → 32%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−13.5%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −15.3% a year for the price and +3.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (74 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Strong growth in mobility solutions paired with AI-driven efficiency gains forms the main strength, while negative equity and high leverage remain the central weakness in the benefits segment.
Main risk: An ongoing Italian competition authority investigation into alleged abuse of dominant position could result in fines, mandated changes to merchant fees or platform practices, and higher compliance costs that squeeze margins in the core benefits segment.
Bull case: Edenred could leverage its AI investments and mobility expansion to diversify revenue streams and strengthen merchant partnerships, mitigating any regulatory pressures through enhanced platform value and efficiency gains.
Bear case: If the antitrust case leads to structural remedies or repeated regulatory interventions across markets, Edenred might face sustained margin compression and slower client acquisition in its benefits business, limiting the offsetting impact of mobility growth.
Edenred deals with regulatory resets in meal vouchers across Italy and Brazil, framing 2026 as a rebasing year for its core benefits segment. Mobility solutions continue to expand rapidly while AI tools target lower-cost client acquisition. Our models see it as undervalued. Will mobility and efficiency gains outweigh the benefits reset?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Credit Services · 283 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Above median
Fair Value upside+94.8% · Top 25%
Profitability
Return on equity (12 months)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets3.8% · Above median
Net margin (12 months)18.2% · Below median
Operating margin (12 months)32.0% · Below median
Growth and dividend
Revenue growth (quarter YoY)1.5% · Below median
Dividend yield (12 months)5.4% · Above median
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Credit Services median · lower = cheaper
P/E (12 months)10.8× · Pricier than median
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months)2.15× · Cheaper than median
Price / free cash flow (fiscal year)6.6× · Pricier than median
EV/EBITDA3.8× · Cheapest 25%
PEG1.59× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)100· sector 59
FUTURE (revenue growth)8· sector 57
PAST (return on equity)0· sector 39
HEALTH (low debt)0· sector 54
DIVIDEND (yield)100· sector 64
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Edenred SA Fair Value". https://www.fairvalue-calculator.com/stock/EDEN
Frequently asked questions
Is Edenred SA (EDEN) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €47.93 versus a price of €24.60, about +95% upside (undervalued).
What is the fair value of EDEN?
Our model-based fair value for Edenred SA is €47.93 (as of Nov 7, 2026), built from audited fundamentals. The current price: €24.60.
What is the quality score of EDEN?
Edenred SA has a Quality Score of 63/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Edenred SA (EDEN)?
Our model-based price target is the fair value of €47.93 (as of Nov 7, 2026) from 23 valuation models. Cautious scenario €35.95, optimistic scenario €59.91. It is a calculation from audited fundamentals, not an analyst target.
What is the Edenred SA stock forecast for 2026?
Our models put fair value at €47.93, about +95% upside versus a price of €24.60 (undervalued). Cautious scenario €35.95, optimistic scenario €59.91. The calculation is refreshed regularly with new filings.
What is the revenue of Edenred SA (EDEN)?
Edenred SA reported trailing-twelve-month revenue of about €2.8B (latest available figure, as of Nov 7, 2026).
Does Edenred SA pay a dividend?
Edenred SA currently shows a dividend yield of 5.41% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Edenred SA (EDEN) and when is the ex-dividend date?
Edenred SA pays a dividend of €1.33 per share a year, a dividend yield of 5.4%. The last ex-dividend date was Jun 10, 2026. A dividend has been paid every year since at least 2011. The payout ratio is 58.6% of earnings. Free cash flow covers the dividend 2.97 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Edenred SA (EDEN)?
For today's price to be fair in a discounted-cash-flow model, Edenred SA would have to grow free cash flow by -13.5 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.9 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of EDEN use?
Our models discount Edenred SA at 9.5 %: a base by market capitalisation (mid), damped by beta 0.69, country premium for France. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Edenred SA that is -13.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Edenred SA (EDEN) delivered so far?
Over the past 5 years revenue at Edenred SA grew +13.9 % a year. The price currently implies free-cash-flow growth of -13.5 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Edenred SA (EDEN) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Edenred SA (-13.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Edenred SA (EDEN)?
The free-cash-flow yield on the price is 15.25 %: that much free cash flow Edenred SA produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Edenred SA (EDEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Edenred SA it is €47.93 per share (as of Nov 7, 2026), against a price of €24.60. It is the blended result of 23 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Edenred SA stock overvalued or undervalued in 2026?
As of Nov 7, 2026, EDEN trades below its calculated fair value: price €24.60, fair value €47.93, a gap of about +95% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of EDEN?
No. The price is what the market pays today (€24.60); the fair value is what the company's own numbers justify (€47.93). For Edenred SA the two are €23.33 per share apart. That gap is exactly why we show both numbers side by side.
How much is Edenred SA worth?
The market values Edenred SA at about €5.9B (market capitalisation, as of Nov 7, 2026). Per share that is €24.60; our models calculate a fair value of €47.93 per share.
What do the bullish and bearish scenarios say about EDEN?
Our models span a range for Edenred SA: cautious scenario €35.95, base €47.93, optimistic €59.91 per share (as of Nov 7, 2026, price €24.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EDEN?
Edenred SA trades at a price-to-earnings ratio of 10.8 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €47.93 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 32.2. Other multiples: PEG 1.6, P/S 2.1, EV/EBITDA 3.8.
What is the PEG ratio of EDEN?
The PEG ratio of Edenred SA is 1.59 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Edenred SA (EDEN)?
Balance-sheet figures for Edenred SA (as of Nov 7, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is EDEN from its 52-week high?
Edenred SA trades at €24.60, about 19% below its 52-week high of €30.53 and 70% above the low of €14.45 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €47.93 is for.
Which stocks are comparable to Edenred SA?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Edenred SA stock attractive at the current price?
The data as of Nov 7, 2026: price €24.60, calculated fair value €47.93 (+95%), Quality Score 63/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of EDEN calculated?
We run Edenred SA through 23 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €47.93 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Edenred SA currently trades 49% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Edenred SA (EDEN)?
The closing price on Nov 6, 2026 was €24.60. Our model-based fair value is €47.93, about +95% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Edenred SA right now?
The price is below even our cautious bear case (€35.95). The market is more pessimistic than our downside scenario. Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Edenred SA (EDEN) come from?
Earnings per share at Edenred SA grew +9.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +10.2 %, EBIT margin +2.1 %, tax rate −0.1 %, residual (interest, one-offs) −2.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Edenred SA
How large is the market capitalisation of Edenred SA (EDEN)?
The market capitalisation of Edenred SA is €5.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Edenred SA (EDEN)?
The price-to-sales ratio of Edenred SA is 2.15 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Edenred SA (EDEN)?
Earnings per share at Edenred SA are €2.27 (price ÷ EPS = P/E 10.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Edenred SA (EDEN)?
The dividend yield of Edenred SA is 5.4% (payout 58.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Edenred SA (EDEN)?
The net margin of Edenred SA is 18.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Edenred SA (EDEN)?
On an EBIT basis the return on assets of Edenred SA is 5.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Edenred SA (EDEN)?
The operating margin of Edenred SA is 32.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Edenred SA (EDEN)?
Revenue at Edenred SA is growing +1.5% versus a year earlier (3y avg +12.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Edenred SA (EDEN)?
Earnings per share at Edenred SA are growing −6.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Edenred SA (EDEN) hold?
Edenred SA holds more cash than debt, €420M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 7, 2026