Viohalco S.A (VIO) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Viohalco S.A stock €15.20, price €14.88, upside +2.2%, quality 51 out of 100. Rating: fairly valued. Calculated from audited financials with 25 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 €3.08 – €22.49 · fair‑value band €8.15 – €21.88 · the €14.88 price screens below the €15.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Viohalco S.A., through its subsidiaries, manufactures, and sells aluminium, copper, cables, and steel and steel pipe products. The company operates through seven segments: Aluminium, Copper, Cables, Steel Pipes, Steel, Real Estate, and Other Activities.
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The Aluminium segment offers aluminium products, including coils, strips, sheets, and foils for various applications; and rolled and extruded products for construction, rigid and flexible packaging, transportation, household, industrial, architectural systems, and automotive applications, as well as lithographic coils.
The Copper segment provides copper and copper alloy, such as copper and brass tubes, copper strips, sheets and plates, copper bus bars, and rods. The Cables segment manufactures power, telecommunication and submarine cables, as well as enameled wires and plastic and rubber compounds.
The Steel Pipes provides onshore and offshore pipelines for gas and liquid fuel, CO2, and hydrogen transportation; casing steel pipes used in exploratory drillings; and hollow structural sections used in the construction sector. The Steel segment offers long, flat, and downstream steel products.
The Real Estate segment develops and manages large-scale commercial and industrial properties. The Other Activities segment produces products and solutions for the optimization of industrial and business processes.
The company serves packaging, transportation, building and construction, energy and power networks, heating, ventilation, air conditioning and refrigeration, water supply, telecommunications and printing, and various industrial applications.
It operates in the United States, Greece, the European Union, Asia, Africa, Oceania, and Other European countries. Viohalco S.A. was incorporated in 1937 and is headquartered in Brussels, Belgium.
Stock analysis
Viohalco S.A (VIO) currently trades at €14.88, while our model-based Fair Value estimate is €15.20, so the stock looks roughly fairly valued today (gap 2.1%).
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Valuation
Bull case: the Multiples group reads highest at a median of €17.41 per share, and 11 of the 25 models we run sit above the €14.88 price.
Bear case: the Dividend Discount group reads lowest at €1.69, and 14 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: €8.15 (bear) to €21.88 (bull), the price of €14.88 sits inside 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 51/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Viohalco S.A reported revenue of €7.2B in FY2025 versus €5.4B in FY2021, a compound +7.7%/yr. Reported net income was €235M in FY2025, compounding +4.8%/yr from FY2021.
Key figures
Market cap €3.9B Mid · P/E ratio 12.1 · P/S ratio 0.66 · EPS (TTM) €1.23 · Dividend yield 1.3% · Net margin 4.1% · Return on equity 15.4% · Return on assets (EBIT) 6.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).
What moves the price
The share trades about 34% below its 52-week high and 62% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −38% fair-value upside, at 2%, VIO screens cheaper than that median.
Fair Value models
Bear€8.15Fair Value €15.20Bull€21.88
Price €14.88 · Upside +2.2%
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 (€0.8898 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+9.1%
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.
+1.1%
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.
+13.4%
Start year 2020 (pandemic). Over 10 years: +8.2% a year
Revenue growth 21 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.
+5.9%
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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. Basis: EBIT basis.
+29.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+28.2%
Dividend (yield on the price)1.3%
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.4% → 7%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+47.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +43.9% a year for the price.
News mood ⓘNews mood, the average tone of recent news (54 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: The business gains from new energy infrastructure contracts that lift volumes and margins, yet stays limited by its commoditized metal fabrication with weak cash conversion and high leverage.
Main risk: Swings in metal prices continue to set earnings pace despite the project backlog, directly affecting margin stability in core fabrication operations.
Viohalco subsidiaries won large energy infrastructure contracts this summer, including a 1.5 billion euro high-voltage link in Greece and pipeline supply for a Mozambique LNG project. These sit alongside its core metal fabrication businesses that posted higher volumes and margins in the first half. Will the new project backlog deliver more stable earnings, or will swings in metal prices still set the pace?
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.Metal Fabrication · 259 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score51 · Above median
Fair Value upside+2.2% · Above median
Profitability
Return on equity (12 months)15.4% · Top 25%
Return on assets4.4% · Above median
Net margin (12 months)5.5% · Above median
Operating margin (12 months)11.0% · Above median
Growth and dividend
Revenue growth (quarter YoY)15.4% · Above median
Dividend yield (12 months)1.3% · Above median
Balance sheet
Debt / equity0.57× · Highest 25%
Valuation Multiplesvs Metal Fabrication median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Viohalco S.A Fair Value". https://www.fairvalue-calculator.com/stock/VIO
Frequently asked questions
Is Viohalco S.A (VIO) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €15.20 versus a price of €14.88, about +2% upside (fairly valued).
What is the fair value of VIO?
Our model-based fair value for Viohalco S.A is €15.20 (as of Nov 7, 2026), built from audited fundamentals. The current price: €14.88.
What is the quality score of VIO?
Viohalco S.A has a Quality Score of 51/100. 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 Viohalco S.A (VIO)?
Our model-based price target is the fair value of €15.20 (as of Nov 7, 2026) from 25 valuation models. Cautious scenario €8.15, optimistic scenario €21.88. It is a calculation from audited fundamentals, not an analyst target.
What is the Viohalco S.A stock forecast for 2026?
Our models put fair value at €15.20, about +2% upside versus a price of €14.88 (fairly valued). Cautious scenario €8.15, optimistic scenario €21.88. The calculation is refreshed regularly with new filings.
What is the revenue of Viohalco S.A (VIO)?
Viohalco S.A reported trailing-twelve-month revenue of about €7.8B (latest available figure, as of Nov 7, 2026).
Does Viohalco S.A pay a dividend?
Viohalco S.A currently shows a dividend yield of 1.27% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Viohalco S.A (VIO) and when is the ex-dividend date?
Viohalco S.A pays a dividend of €0.189 per share a year, a dividend yield of 1.3%. The last ex-dividend date was Jun 25, 2026. A dividend has been paid every year since at least 2020. The payout ratio is 15.4% of earnings. Free cash flow covers the dividend 0.91 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Viohalco S.A (VIO)?
For today's price to be fair in a discounted-cash-flow model, Viohalco S.A would have to grow free cash flow by +47.1 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.4 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of VIO use?
Our models discount Viohalco S.A at 10.4 %: a base by market capitalisation (mid), damped by beta 1.06, country premium for Belgium. 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 Viohalco S.A that is +47.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Viohalco S.A (VIO) delivered so far?
Over the past 5 years revenue at Viohalco S.A grew +13.4 % a year. The price currently implies free-cash-flow growth of +47.1 % 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 Viohalco S.A (VIO) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Viohalco S.A (+47.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Viohalco S.A (VIO)?
The free-cash-flow yield on the price is 1.16 %: that much free cash flow Viohalco S.A produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Viohalco S.A (VIO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Viohalco S.A it is €15.20 per share (as of Nov 7, 2026), against a price of €14.88. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Viohalco S.A stock overvalued or undervalued in 2026?
As of Nov 7, 2026, VIO trades below its calculated fair value: price €14.88, fair value €15.20, a gap of about +2% (fairly valued). 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 VIO?
No. The price is what the market pays today (€14.88); the fair value is what the company's own numbers justify (€15.20). For Viohalco S.A the two are €0.3200 per share apart. That gap is exactly why we show both numbers side by side.
How much is Viohalco S.A worth?
The market values Viohalco S.A at about €3.9B (market capitalisation, as of Nov 7, 2026). Per share that is €14.88; our models calculate a fair value of €15.20 per share.
What do the bullish and bearish scenarios say about VIO?
Our models span a range for Viohalco S.A: cautious scenario €8.15, base €15.20, optimistic €21.88 per share (as of Nov 7, 2026, price €14.88). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VIO?
Viohalco S.A trades at a price-to-earnings ratio of 12.1 (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 €15.20 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 11.3. Other multiples: P/B 1.8, P/S 0.7, EV/EBITDA 7.1.
How solid is the balance sheet of Viohalco S.A (VIO)?
Balance-sheet figures for Viohalco S.A (as of Nov 7, 2026): return on equity 15.4%, debt of 0.57 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is VIO from its 52-week high?
Viohalco S.A trades at €14.88, about 34% below its 52-week high of €22.49 and 62% above the low of €9.17 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €15.20 is for.
Which stocks are comparable to Viohalco S.A?
From the same area (Industrials) we also value ATI Inc, Carpenter Technology Corporation, Mueller Industries, Inc, Bharat Forge Limited, 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 Viohalco S.A stock attractive at the current price?
The data as of Nov 7, 2026: price €14.88, calculated fair value €15.20 (+2%), Quality Score 51/100, from 25 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 VIO calculated?
We run Viohalco S.A through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €15.20 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 13.0% above its aggregate fair value. Viohalco S.A currently trades 2% 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 Viohalco S.A (VIO)?
The closing price on Nov 6, 2026 was €14.88. Our model-based fair value is €15.20, about +2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Viohalco S.A right now?
The model range is unusually wide (€8.15 to €21.88). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Key figures of Viohalco S.A
How large is the market capitalisation of Viohalco S.A (VIO)?
The market capitalisation of Viohalco S.A is €3.9B. 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 Viohalco S.A (VIO)?
The price-to-sales ratio of Viohalco S.A is 0.66 (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 Viohalco S.A (VIO)?
Earnings per share at Viohalco S.A are €1.23 (price ÷ EPS = P/E 12.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Viohalco S.A (VIO)?
The dividend yield of Viohalco S.A is 1.3% (payout 15.4%). 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 Viohalco S.A (VIO)?
The net margin of Viohalco S.A is 4.1% (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 return on equity of Viohalco S.A (VIO)?
The return on equity (ROE) of Viohalco S.A is 15.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Viohalco S.A (VIO)?
On an EBIT basis the return on assets of Viohalco S.A is 6.9% (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 Viohalco S.A (VIO)?
The operating margin of Viohalco S.A is 11.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Viohalco S.A (VIO)?
Revenue at Viohalco S.A is growing +15.4% versus a year earlier (3y avg +1.1%). 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 Viohalco S.A (VIO)?
Earnings per share at Viohalco S.A are growing +68.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Viohalco S.A (VIO) carry?
The net debt of Viohalco S.A is €1.5B (fiscal year 2025, ≈ 33.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 7, 2026