Altri SGPS SA (ALTR) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Altri SGPS SA stock €3.00, price €4.22, that is 28.9% below the price, quality 48 out of 100. Rating: overvalued. Calculated from audited financials with 20 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 8, 2026.
How to read this chart
60‑month range €2.30 – €5.96 · fair‑value band €2.04 – €3.78 · the €4.22 price screens above the €3.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Altri, SGPS, S.A. produces and sells cellulosic fibers in Portugal and internationally.
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The company offers bleached eucalyptus kraft pulp (BEKP) cellulose fibers for use in the manufacture of paper for household, printing, and writing purposes; and dissolved wood pulp (DWP) soluble cellulose fibers for use in the production of man-made cellulose fibers, such as lyocell and viscose for the textile sector.
It is also involved in the timber and biomass commercialization; forest management; plant production in nurseries and services related to forests and landscapes; real estate; logistics services; research and development activities; and production and commercialization of cellulosic filaments.
Altri, SGPS, S.A. was incorporated in 2005 and is headquartered in Porto, Portugal.
Stock analysis
Altri SGPS SA (ALTR) currently trades at €4.22, while our model-based Fair Value estimate is €3.00, 29% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of €3.41 per share, and 0 of the 20 models we run sit above the €4.22 price.
Bear case: the Asset-Based group reads lowest at €0.3800, and 20 of the 20 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €2.04 (bear) to €3.78 (bull), the price of €4.22 sits above 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 48/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Altri SGPS SA reported revenue of €676M in FY2025 versus €785M in FY2021, a compound −3.7%/yr. Reported net income was €21.4M in FY2025, compounding −35.5%/yr from FY2021.
Key figures
Market cap €866M Small · P/E ratio 70.3 · P/S ratio 1.43 · EPS (TTM) €0.0600 · Dividend yield 5.9% · Net margin 1.9% · Return on equity 2.8% · Return on assets (EBIT) 8.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 24 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 22% fair-value upside, at −29%, ALTR screens richer than that median.
Fair Value models
Bear€2.04Fair Value €3.00Bull€3.78
Price €4.22 · Downside -28.9%
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.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.
Best data coverage
Owner Earnings€2.77€4.09€5.7177
Residual Income€1.49€1.50€1.5776
5Y EBITDA Exit€1.02€2.46€4.0972
All 20 models by family
DCF Models
Owner Earnings€2.77€4.09€5.7177
5Y Revenue Exit€0.0200€0.7000€1.5364
5Y EBITDA Exit€1.02€2.46€4.0972
5Y P/E Exitn/a€0.4000€0.940068
10Y Revenue Exitn/a€0.2900€0.950064
10Y EBITDA Exit€0.3700€1.38€2.6463
10Y P/E Exitn/a€0.1100>€0.440061
Earnings-Based
Graham-Dodd€0.7100€1.65€2.1365
PEG = 1.0€0.2800€0.4000€0.520057
Dividend Discount
Gordon GGM€2.32€3.59€4.8368
DDM Multi-Stage€2.32€3.23€4.1167
Multiples
P/E Multiple€1.33€1.77€2.2163
P/S Multiple€1.33€1.77€2.2158
P/B Multiple€1.28€1.70€2.1355
EV/EBIT€0.0700€0.6700€1.2657
EV/EBITDA€1.90€3.11€4.3166
EV/Revenuen/a€0.5000€1.1650
Asset-Based
NCAV (Graham)€0.2800€0.3800€0.570054
Economic Profit
Residual Income€1.49€1.50€1.5776
Growth Earnings
Growth-Adj P/E€1.02€1.46€1.8967
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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.36/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−19.3%
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.
−13.7%
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.
+2.1%
Start year 2020 (pandemic). Over 10 years: +0.3% a year
Revenue growth 19 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.
+4.6%
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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.
−20.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−26.7%
Dividend (yield on the price)5.9%
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.−26.7% vs −12.0%, slowing
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.8% → 5%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more 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).
+77.5%
Yearly growth needed for the next five years to justify today's price.
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.
+7.7%
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 +73.7% a year for the price and +5.4% for the forecasts.
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.Paper & Paper Products · 116 stocks
Beats the industry median on 3/15 measures
Overall it trails its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside−28.9% · Below median
Profitability
Return on equity (12 months)2.8% · Below median
Return on assets1.6% · Below median
Net margin (12 months)1.9% · Below median
Operating margin (12 months)3.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)20.6% · Top 25%
Dividend yield (12 months)5.9% · Top 25%
Balance sheet
Debt / equity1.02× · Highest 25%
Valuation Multiplesvs Paper & Paper Products median · lower = cheaper
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). "Altri SGPS SA Fair Value". https://www.fairvalue-calculator.com/stock/ALTR
Frequently asked questions
Is Altri SGPS SA (ALTR) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of €3.00 versus a price of €4.22, about 29% lower (overvalued).
What is the fair value of ALTR?
Our model-based fair value for Altri SGPS SA is €3.00 (as of Nov 8, 2026), built from audited fundamentals. The current price: €4.22.
What is the quality score of ALTR?
Altri SGPS SA has a Quality Score of 48/100. 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 Altri SGPS SA (ALTR)?
Our model-based price target is the fair value of €3.00 (as of Nov 8, 2026) from 20 valuation models. Cautious scenario €2.04, optimistic scenario €3.78. It is a calculation from audited fundamentals, not an analyst target.
What is the Altri SGPS SA stock forecast for 2026?
Our models put fair value at €3.00, about 29% lower versus a price of €4.22 (overvalued). Cautious scenario €2.04, optimistic scenario €3.78. The calculation is refreshed regularly with new filings.
What is the revenue of Altri SGPS SA (ALTR)?
Altri SGPS SA reported trailing-twelve-month revenue of about €675M (latest available figure, as of Nov 8, 2026).
Does Altri SGPS SA pay a dividend?
Altri SGPS SA currently shows a dividend yield of 5.92% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Altri SGPS SA (ALTR) and when is the ex-dividend date?
Altri SGPS SA pays a dividend of €0.25 per share a year, a dividend yield of 5.9%. The last ex-dividend date was May 26, 2026. A dividend has been paid every year since 2011. Free cash flow covers the dividend 0.06 times. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What growth is priced into Altri SGPS SA (ALTR)?
For today's price to be fair in a discounted-cash-flow model, Altri SGPS SA would have to grow free cash flow by +77.5 % per year for five years (discount rate 11.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.1 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of ALTR use?
Our models discount Altri SGPS SA at 11.1 %: a base by market capitalisation (small), damped by beta 0.14, country premium for Portugal. 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 Altri SGPS SA that is +77.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.1 %) and the same formula as our fair value.
How much growth has Altri SGPS SA (ALTR) delivered so far?
Over the past 5 years revenue at Altri SGPS SA grew +2.1 % a year. The price currently implies free-cash-flow growth of +77.5 % 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 Altri SGPS SA (ALTR) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Altri SGPS SA (+77.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Altri SGPS SA (ALTR)?
The free-cash-flow yield on the price is 0.35 %: that much free cash flow Altri SGPS SA produces per unit of market value. When it exceeds the discount rate of our models (11.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Altri SGPS SA (ALTR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Altri SGPS SA it is €3.00 per share (as of Nov 8, 2026), against a price of €4.22. It is the blended result of 20 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Altri SGPS SA stock overvalued or undervalued in 2026?
As of Nov 8, 2026, ALTR trades above its calculated fair value: price €4.22, fair value €3.00, a gap of about −29% (overvalued). 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 ALTR?
No. The price is what the market pays today (€4.22); the fair value is what the company's own numbers justify (€3.00). For Altri SGPS SA the two are €1.22 per share apart. That gap is exactly why we show both numbers side by side.
How much is Altri SGPS SA worth?
The market values Altri SGPS SA at about €866M (market capitalisation, as of Nov 8, 2026). Per share that is €4.22; our models calculate a fair value of €3.00 per share.
What do the bullish and bearish scenarios say about ALTR?
Our models span a range for Altri SGPS SA: cautious scenario €2.04, base €3.00, optimistic €3.78 per share (as of Nov 8, 2026, price €4.22). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ALTR?
Altri SGPS SA trades at a price-to-earnings ratio of 70.3 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €3.00 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 7.0. Other multiples: PEG 0.1, P/B 2.3, P/S 1.4, EV/EBITDA 33.9.
What is the PEG ratio of ALTR?
The PEG ratio of Altri SGPS SA is 0.11 (P/E divided by earnings growth, as of Nov 8, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Altri SGPS SA (ALTR)?
Balance-sheet figures for Altri SGPS SA (as of Nov 8, 2026): return on equity 2.8%, debt of 1.02 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is ALTR from its 52-week high?
Altri SGPS SA trades at €4.22, about 17% below its 52-week high of €5.10 and 3% above the low of €4.08 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €3.00 is for.
Which stocks are comparable to Altri SGPS SA?
From the same area (Basic Materials) we also value UPM-Kymmene Oyj, Suzano S.A, Shandong Sunpaper Co, Nine Dragons Paper (Holdings) 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 Altri SGPS SA stock attractive at the current price?
The data as of Nov 8, 2026: price €4.22, calculated fair value €3.00 (−29%), Quality Score 48/100, from 20 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 ALTR calculated?
We run Altri SGPS SA through 20 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €3.00 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. Altri SGPS SA itself currently trades above fair value. 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 Altri SGPS SA (ALTR)?
The closing price on Nov 6, 2026 was €4.22. Our model-based fair value is €3.00, about 29% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Altri SGPS SA right now?
The price sits above even our optimistic bull case (€3.78). The favourable scenario is already priced in. Weak quality (48/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (€2.04 to €3.78) leaves room in how you read the outcome.
Where does the earnings growth of Altri SGPS SA (ALTR) come from?
Earnings per share at Altri SGPS SA grew +18.4 % a year from 2011 to 2022. Broken into its drivers: revenue per share +5.1 %, EBIT margin +1.3 %, tax rate +0.4 %, residual (interest, one-offs) +10.8 %. 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 Altri SGPS SA
How large is the market capitalisation of Altri SGPS SA (ALTR)?
The market capitalisation of Altri SGPS SA is €866M. 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 Altri SGPS SA (ALTR)?
The price-to-sales ratio of Altri SGPS SA is 1.43 (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 Altri SGPS SA (ALTR)?
Earnings per share at Altri SGPS SA are €0.0600 (price ÷ EPS = P/E 70.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Altri SGPS SA (ALTR)?
The dividend yield of Altri SGPS SA is 5.9%. 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 Altri SGPS SA (ALTR)?
The net margin of Altri SGPS SA is 1.9% (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 Altri SGPS SA (ALTR)?
The return on equity (ROE) of Altri SGPS SA is 2.8% (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 Altri SGPS SA (ALTR)?
On an EBIT basis the return on assets of Altri SGPS SA is 8.5% (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 Altri SGPS SA (ALTR)?
The operating margin of Altri SGPS SA is 3.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Altri SGPS SA (ALTR)?
Revenue at Altri SGPS SA is growing +20.6% versus a year earlier (3y avg −13.7%). 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 Altri SGPS SA (ALTR)?
Earnings per share at Altri SGPS SA are growing +100% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Altri SGPS SA (ALTR) carry?
The net debt of Altri SGPS SA is €351M (fiscal year 2025). 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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Some data
Nov 8, 2026