NATURENERGIE (NEAG) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of NATURENERGIE stock CHF 34.97, price CHF 29.00, upside +20.6%, quality 58 out of 100. Rating: undervalued. Calculated from audited financials with 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 6, 2026.
How to read this chart
60‑month range CHF 27.54 – CHF 43.84 · fair‑value band CHF 21.13 – CHF 51.58 · the CHF 29.00 price screens below the CHF 34.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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naturenergie holding AG, through its subsidiaries, engages in the production, distribution, and sale of electricity under the Naturenergie brand in Switzerland and internationally.
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It operates through three segments: Customer-Oriented Energy Solutions, System-Relevant Infrastructure, and Renewable Generation Infrastructure. The company generates electricity from hydropower, hydrogen, and photovoltaics sources.
It also provides products and services in the areas of electricity, gas, heat, housing, photovoltaics and mobility for private and business customers; car sharing; and system and energy solutions for companies, such as heat pumps, combined heat and power plants, photovoltaic systems, battery storage systems, and charging stations for electric cars.
In addition, the company offers solar solutions; PV contracting solutions; and e-car sharing solutions.
Further, it is involved in the provision of construction, operation, and maintenance services; and electrical installations for single-family homes and apartment buildings, commercial buildings, and modern industrial plants.
The company was formerly known as Energiedienst Holding AG and changed its name to naturenergie holding AG in May 2024. The company was founded in 1894 and is headquartered in Laufenburg, Switzerland. naturenergie holding AG is a subsidiary of EnBW Energie Baden-Württemberg AG.
Stock analysis
NATURENERGIE (NEAG) currently trades at CHF 29.00, while our model-based Fair Value estimate is CHF 34.97, implying the stock looks roughly 17% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of CHF 83.98 per share, and 20 of the 26 models we run sit above the CHF 29.00 price.
Bear case: the Dividend Discount group reads lowest at CHF 13.50, and 6 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: CHF 21.13 (bear) to CHF 51.58 (bull), the price of CHF 29.00 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 58/100 (solid quality), in the Utilities sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
NATURENERGIE reported revenue of €1.6B in FY2025 versus €1.1B in FY2021, a compound +8.5%/yr. Reported net income was €187M in FY2025, compounding +22.0%/yr from FY2021.
Key figures
Market cap CHF 959M Small · P/E ratio 6.4 · P/S ratio 0.73 · EPS (TTM) CHF 4.55 · Dividend yield 3.1% · Net margin 11.3% · Return on equity 12.6% · Return on assets (EBIT) 7.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −52% fair-value upside, at 21%, NEAG screens cheaper than that median.
Fair Value models
BearCHF 21.13Fair Value CHF 34.97BullCHF 51.58
Price CHF 29.00 · Upside +20.6%
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 (CHF 3.12 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.
Best data coverage
FCF DCFCHF 22.11CHF 31.01CHF 43.5581
Growth DCFCHF 22.45CHF 30.42CHF 41.0479
Owner EarningsCHF 17.80CHF 24.68CHF 34.3677
All 26 models by family
DCF Models
FCF DCFCHF 22.11CHF 31.01CHF 43.5581
Owner EarningsCHF 17.80CHF 24.68CHF 34.3677
5Y Revenue ExitCHF 42.24CHF 69.60CHF 104.4872
5Y EBITDA ExitCHF 42.36CHF 69.83CHF 101.5274
5Y P/E ExitCHF 48.94CHF 81.87CHF 115.9170
10Y Revenue ExitCHF 32.78CHF 55.38CHF 85.4766
10Y EBITDA ExitCHF 34.37CHF 55.54CHF 83.3167
10Y P/E ExitCHF 38.41CHF 63.57CHF 93.7863
Earnings-Based
Graham-DoddCHF 35.16CHF 98.19CHF 129.1065
Lynch FVCHF 19.76CHF 28.23CHF 36.7061
PEG = 1.0CHF 19.76CHF 28.23CHF 36.7057
EPVCHF 49.07CHF 56.22CHF 62.3774
Dividend Discount
Gordon GGMCHF 7.67CHF 15.13CHF 22.6867
DDM Multi-StageCHF 7.67CHF 11.86CHF 15.9966
Multiples
P/E MultipleCHF 69.81CHF 93.08CHF 116.3563
P/S MultipleCHF 65.93CHF 87.91CHF 109.8958
P/B MultipleCHF 33.69CHF 44.93CHF 56.1655
EV/EBITCHF 69.37CHF 91.57CHF 113.7866
EV/EBITDACHF 60.72CHF 80.04CHF 99.3567
EV/RevenueCHF 56.64CHF 79.73CHF 102.8254
Asset-Based
NCAV (Graham)CHF 18.33CHF 24.56CHF 36.6654
Growth DCF
Growth DCFCHF 22.45CHF 30.42CHF 41.0479
Rev-Margin DCFCHF 42.24CHF 69.21CHF 99.0772
Economic Profit
Residual IncomeCHF 35.52CHF 42.79CHF 58.7076
ROIC CompounderCHF 51.04CHF 62.32CHF 75.2972
Growth Earnings
Growth-Adj P/ECHF 56.52CHF 80.74CHF 104.9667
The fair value above starts from this blend and is adjusted for a year distorted by one-off effects.
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.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+35.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+32.0%
Dividend (yield on the price)3.1%
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.base effect: 34.1% / 16.9%
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% → 14%
2025 sits 74% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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.
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).
+1.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −0.3% a year for the price.
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.Utilities - Renewable · 197 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Top 25%
Fair Value upside+20.6% · Above median
Profitability
Return on equity (12 months)12.6% · Top 25%
Return on assets9.2% · Top 25%
Net margin (12 months)11.3% · Above median
Operating margin (12 months)10.3% · Below median
Growth and dividend
Revenue growth (quarter YoY)−18.3% · Bottom 25%
Dividend yield (12 months)3.1% · Above median
Balance sheet
Debt / equity0.07× · Lowest 25%
Valuation Multiplesvs Utilities - Renewable median · lower = cheaper
P/E (12 months)6.4× · Cheapest 25%
P/B0.78× · Cheaper than median
P/S (12 months)0.73× · Cheapest 25%
Price / free cash flow (fiscal year)16.0× · Pricier than median
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). "NATURENERGIE Fair Value". https://www.fairvalue-calculator.com/stock/NEAG
Frequently asked questions
Is NATURENERGIE (NEAG) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of CHF 34.97 versus a price of CHF 29.00, about +21% upside (undervalued).
What is the fair value of NEAG?
Our model-based fair value for NATURENERGIE is CHF 34.97 (as of Nov 6, 2026), built from audited fundamentals. The current price: CHF 29.00.
What is the quality score of NEAG?
NATURENERGIE has a Quality Score of 58/100. 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 NATURENERGIE (NEAG)?
Our model-based price target is the fair value of CHF 34.97 (as of Nov 6, 2026) from 26 valuation models. Cautious scenario CHF 21.13, optimistic scenario CHF 51.58. It is a calculation from audited fundamentals, not an analyst target.
What is the NATURENERGIE stock forecast for 2026?
Our models put fair value at CHF 34.97, about +21% upside versus a price of CHF 29.00 (undervalued). Cautious scenario CHF 21.13, optimistic scenario CHF 51.58. The calculation is refreshed regularly with new filings.
What is the revenue of NATURENERGIE (NEAG)?
NATURENERGIE reported trailing-twelve-month revenue of about €1.4B (latest available figure, as of Nov 6, 2026).
Does NATURENERGIE pay a dividend?
NATURENERGIE currently shows a dividend yield of 3.10% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of NATURENERGIE (NEAG) and when is the ex-dividend date?
NATURENERGIE pays a dividend of CHF 0.9 per share a year, a dividend yield of 3.1%. The last ex-dividend date was Apr 30, 2026. A dividend has been paid every year since 2009. The payout ratio is 17.4% of earnings. Free cash flow covers the dividend 2.02 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 NATURENERGIE (NEAG)?
For today's price to be fair in a discounted-cash-flow model, NATURENERGIE would have to grow free cash flow by +1.9 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.5 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of NEAG use?
Our models discount NATURENERGIE at 9.6 %: a base by market capitalisation (small), damped by beta 0.26, country premium for Switzerland. 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 NATURENERGIE that is +1.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has NATURENERGIE (NEAG) delivered so far?
Over the past 5 years revenue at NATURENERGIE grew +8.5 % a year. The price currently implies free-cash-flow growth of +1.9 % 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 NATURENERGIE (NEAG) growing?
The median revenue growth in the sector is +4.5 % a year. That is the yardstick for the growth priced into NATURENERGIE (+1.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of NATURENERGIE (NEAG)?
The free-cash-flow yield on the price is 6.26 %: that much free cash flow NATURENERGIE produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of NATURENERGIE (NEAG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For NATURENERGIE it is CHF 34.97 per share (as of Nov 6, 2026), against a price of CHF 29.00. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is NATURENERGIE stock overvalued or undervalued in 2026?
As of Nov 6, 2026, NEAG trades below its calculated fair value: price CHF 29.00, fair value CHF 34.97, a gap of about +21% (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 NEAG?
No. The price is what the market pays today (CHF 29.00); the fair value is what the company's own numbers justify (CHF 34.97). For NATURENERGIE the two are CHF 5.97 per share apart. That gap is exactly why we show both numbers side by side.
How much is NATURENERGIE worth?
The market values NATURENERGIE at about CHF 959M (market capitalisation, as of Nov 6, 2026). Per share that is CHF 29.00; our models calculate a fair value of CHF 34.97 per share.
What do the bullish and bearish scenarios say about NEAG?
Our models span a range for NATURENERGIE: cautious scenario CHF 21.13, base CHF 34.97, optimistic CHF 51.58 per share (as of Nov 6, 2026, price CHF 29.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NEAG?
NATURENERGIE trades at a price-to-earnings ratio of 6.4 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 34.97 is built from several models across several years. Other multiples: P/B 0.8, P/S 0.7, EV/EBITDA 3.7.
How solid is the balance sheet of NATURENERGIE (NEAG)?
Balance-sheet figures for NATURENERGIE (as of Nov 6, 2026): return on equity 12.6%, debt of 0.07 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is NEAG from its 52-week high?
NATURENERGIE trades at CHF 29.00, about 13% below its 52-week high of CHF 33.50 and 2% above the low of CHF 28.40 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 34.97 is for.
Which stocks are comparable to NATURENERGIE?
From the same area (Utilities) we also value China Yangtze Power Co, Huaneng Lancang River Hydropower Inc, Ørsted A/S, VERBUND AG, 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 NATURENERGIE stock attractive at the current price?
The data as of Nov 6, 2026: price CHF 29.00, calculated fair value CHF 34.97 (+21%), Quality Score 58/100, from 26 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 NEAG calculated?
We run NATURENERGIE through 26 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 CHF 34.97 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. NATURENERGIE currently trades 17% 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 NATURENERGIE (NEAG)?
The closing price on Nov 6, 2026 was CHF 29.00. Our model-based fair value is CHF 34.97, about +21% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with NATURENERGIE right now?
Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (CHF 21.13 to CHF 51.58) leaves room in how you read the outcome.
Where does the earnings growth of NATURENERGIE (NEAG) come from?
Earnings per share at NATURENERGIE grew +15.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.5 %, EBIT margin +7.2 %, tax rate +0.8 %, residual (interest, one-offs) +0.6 %. 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 NATURENERGIE
How large is the market capitalisation of NATURENERGIE (NEAG)?
The market capitalisation of NATURENERGIE is CHF 959M. 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 NATURENERGIE (NEAG)?
The price-to-sales ratio of NATURENERGIE is 0.73 (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 NATURENERGIE (NEAG)?
Earnings per share at NATURENERGIE are CHF 4.55 (price ÷ EPS = P/E 6.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of NATURENERGIE (NEAG)?
The dividend yield of NATURENERGIE is 3.1% (payout 19.8%). 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 NATURENERGIE (NEAG)?
The net margin of NATURENERGIE is 11.3% (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 NATURENERGIE (NEAG)?
The return on equity (ROE) of NATURENERGIE is 12.6% (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 NATURENERGIE (NEAG)?
On an EBIT basis the return on assets of NATURENERGIE is 7.9% (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 NATURENERGIE (NEAG)?
The operating margin of NATURENERGIE is 10.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at NATURENERGIE (NEAG)?
Revenue at NATURENERGIE is growing −18.3% versus a year earlier (3y avg +1.2%). 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 NATURENERGIE (NEAG)?
Earnings per share at NATURENERGIE are growing −34.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does NATURENERGIE (NEAG) hold?
NATURENERGIE holds more cash than debt, €99.7M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 6, 2026