Santierul Naval Orsova SA (SNO) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Santierul Naval Orsova SA stock RON 14.26, price RON 23.00, that is 38.0% below the price, quality 73 out of 100. Rating: strongly overvalued. 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 9, 2026.
How to read this chart
60‑month range 2.73 RON – 29.20 RON · fair‑value band 9.53 RON – 20.61 RON · the 23.00 RON price screens above the 14.26 RON fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Santierul Naval Orsova S.A. engages in the construction of river ships and floating structures in Romania.
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The company produces chemical tankers, container ships, gas tankers, salanda vessels, push-combination vessels, river and sea pontoons, barges, self-propelled barges, mixed barges, ro-ro barges, and ferry boats for people, cars and trucks.
It is also involved in renting ships; and logistics activities, as well as repairing of ships. Santierul Naval Orsova S.A. was founded in 1890 and is headquartered in Orsova, Romania.
Stock analysis
Santierul Naval Orsova SA (SNO) currently trades at 23.00 RON, while our model-based Fair Value estimate is 14.26 RON, 38% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 16.40 RON per share, and 2 of the 26 models we run sit above the 23.00 RON price.
Bear case: the Asset-Based group reads lowest at 3.98 RON, and 24 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 9.53 RON (bear) to 20.61 RON (bull), the price of 23.00 RON 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 73/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Santierul Naval Orsova SA reported revenue of 114M RON in FY2025 versus 72.9M RON in FY2021, a compound +11.9%/yr. Reported net income was 8.8M RON in FY2025.
Key figures
Market cap 263M RON (≈ $55.1M) Micro · P/E ratio 17.3 · P/S ratio 2.09 · EPS (TTM) 1.33 RON · Dividend yield 2.9% · Net margin 12.1% · Return on equity 16.8% · Return on assets (EBIT) −0.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and 210% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −23% fair-value upside, at −38%, SNO screens richer than that median.
Fair Value models
Bear9.53 RONFair Value 14.26 RONBull20.61 RON
Price 23.00 RON · Downside -38.0%
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 12 months old). Earnings retained since then (0.6600 RON 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.92/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+26.9%
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.
+26.9%
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.
+10.5%
Start year 2020 (pandemic)
Revenue growth 6 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.
+10.9%
’19
’20
’21
’22
’23
’24
’25
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.
+32.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.4%
Dividend (yield on the price)2.9%
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.−3% → 3%
2025 sits 87% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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).
+21.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Romania: IMF forecast 4.3% a year to 2030, 5.2% from 2016 to 2025) that is about +16.2% a year for the price.
Compare Santierul Naval Orsova SA with another stock
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.Aerospace & Defense · 238 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score73 · Top 25%
Fair Value upside−38.0% · Above median
Profitability
Return on equity (12 months)16.8% · Above median
Return on assets6.9% · Above median
Net margin (12 months)12.1% · Above median
Operating margin (12 months)15.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)10.8% · Below median
Dividend yield (12 months)2.9% · Top 25%
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
P/E (12 months)17.3× · Cheapest 25%
P/B2.78× · Cheaper than median
P/S (12 months)2.09× · Cheaper than median
Price / free cash flow (fiscal year)23.2× · Cheaper than median
EV/EBITDA12.4× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)54· sector 65
PAST (return on equity)67· sector 41
HEALTH (low debt)0· sector 94
DIVIDEND (yield)58· sector 19
VALUE 0: the price sits above our fair-value range.
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). "Santierul Naval Orsova SA Fair Value". https://www.fairvalue-calculator.com/stock/SNO
Frequently asked questions
Is Santierul Naval Orsova SA (SNO) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 14.26 RON versus a price of 23.00 RON, about 38% lower (overvalued).
What is the fair value of SNO?
Our model-based fair value for Santierul Naval Orsova SA is 14.26 RON (as of Nov 9, 2026), built from audited fundamentals. The current price: 23.00 RON.
What is the quality score of SNO?
Santierul Naval Orsova SA has a Quality Score of 73/100. 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 Santierul Naval Orsova SA (SNO)?
Our model-based price target is the fair value of 14.26 RON (as of Nov 9, 2026) from 26 valuation models. Cautious scenario 9.53 RON, optimistic scenario 20.61 RON. It is a calculation from audited fundamentals, not an analyst target.
What is the Santierul Naval Orsova SA stock forecast for 2026?
Our models put fair value at 14.26 RON, about 38% lower versus a price of 23.00 RON (overvalued). Cautious scenario 9.53 RON, optimistic scenario 20.61 RON. The calculation is refreshed regularly with new filings.
What is the revenue of Santierul Naval Orsova SA (SNO)?
Santierul Naval Orsova SA reported trailing-twelve-month revenue of about 126M RON (latest available figure, as of Nov 9, 2026).
Does Santierul Naval Orsova SA pay a dividend?
Santierul Naval Orsova SA currently shows a dividend yield of 2.91% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Santierul Naval Orsova SA (SNO) and when is the ex-dividend date?
Santierul Naval Orsova SA pays a dividend of 0.67 RON per share a year, a dividend yield of 2.9%. The last ex-dividend date was May 19, 2026. The payout ratio is 50.4% of earnings. Free cash flow covers the dividend 1.48 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 Santierul Naval Orsova SA (SNO)?
For today's price to be fair in a discounted-cash-flow model, Santierul Naval Orsova SA would have to grow free cash flow by +21.2 % per year for five years (discount rate 13.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.5 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of SNO use?
Our models discount Santierul Naval Orsova SA at 13.9 %: a base by market capitalisation (micro), damped by beta 0.51, country premium for Romania. 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 Santierul Naval Orsova SA that is +21.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.9 %) and the same formula as our fair value.
How much growth has Santierul Naval Orsova SA (SNO) delivered so far?
Over the past 5 years revenue at Santierul Naval Orsova SA grew +10.5 % a year. The price currently implies free-cash-flow growth of +21.2 % 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 Santierul Naval Orsova SA (SNO) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Santierul Naval Orsova SA (+21.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Santierul Naval Orsova SA (SNO)?
The free-cash-flow yield on the price is 4.31 %: that much free cash flow Santierul Naval Orsova SA produces per unit of market value. When it exceeds the discount rate of our models (13.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Santierul Naval Orsova SA (SNO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Santierul Naval Orsova SA it is 14.26 RON per share (as of Nov 9, 2026), against a price of 23.00 RON. 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 Santierul Naval Orsova SA stock overvalued or undervalued in 2026?
As of Nov 9, 2026, SNO trades above its calculated fair value: price 23.00 RON, fair value 14.26 RON, a gap of about −38% (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 SNO?
No. The price is what the market pays today (23.00 RON); the fair value is what the company's own numbers justify (14.26 RON). For Santierul Naval Orsova SA the two are 8.74 RON per share apart. That gap is exactly why we show both numbers side by side.
How much is Santierul Naval Orsova SA worth?
The market values Santierul Naval Orsova SA at about 263M RON (market capitalisation, as of Nov 9, 2026). Per share that is 23.00 RON; our models calculate a fair value of 14.26 RON per share.
What do the bullish and bearish scenarios say about SNO?
Our models span a range for Santierul Naval Orsova SA: cautious scenario 9.53 RON, base 14.26 RON, optimistic 20.61 RON per share (as of Nov 9, 2026, price 23.00 RON). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SNO?
Santierul Naval Orsova SA trades at a price-to-earnings ratio of 17.3 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 14.26 RON is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2019 to 2025), reported earnings: 12.1. Other multiples: P/B 2.8, P/S 2.1, EV/EBITDA 12.4.
How solid is the balance sheet of Santierul Naval Orsova SA (SNO)?
Balance-sheet figures for Santierul Naval Orsova SA (as of Nov 9, 2026): return on equity 16.8%. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is SNO from its 52-week high?
Santierul Naval Orsova SA trades at 23.00 RON, about 21% below its 52-week high of 29.20 RON and 210% above the low of 7.42 RON (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 14.26 RON is for.
Which stocks are comparable to Santierul Naval Orsova SA?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Lockheed Martin 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 Santierul Naval Orsova SA stock attractive at the current price?
The data as of Nov 9, 2026: price 23.00 RON, calculated fair value 14.26 RON (−38%), Quality Score 73/100, 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 SNO calculated?
We run Santierul Naval Orsova SA 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 14.26 RON 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. Santierul Naval Orsova 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 Santierul Naval Orsova SA (SNO)?
The closing price on Nov 6, 2026 was 23.00 RON. Our model-based fair value is 14.26 RON, about 38% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Santierul Naval Orsova SA right now?
The price sits above even our optimistic bull case (20.61 RON). The favourable scenario is already priced in. Solid but not exceptional quality (73/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (9.53 RON to 20.61 RON) leaves room in how you read the outcome.
Key figures of Santierul Naval Orsova SA
How large is the market capitalisation of Santierul Naval Orsova SA (SNO)?
The market capitalisation of Santierul Naval Orsova SA is 263M RON (≈ $55.1M). 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 Santierul Naval Orsova SA (SNO)?
The price-to-sales ratio of Santierul Naval Orsova SA is 2.09 (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 Santierul Naval Orsova SA (SNO)?
Earnings per share at Santierul Naval Orsova SA are 1.33 RON (price ÷ EPS = P/E 17.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Santierul Naval Orsova SA (SNO)?
The dividend yield of Santierul Naval Orsova SA is 2.9% (payout 50.4%). 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 Santierul Naval Orsova SA (SNO)?
The net margin of Santierul Naval Orsova SA is 12.1% (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 Santierul Naval Orsova SA (SNO)?
The return on equity (ROE) of Santierul Naval Orsova SA is 16.8% (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 Santierul Naval Orsova SA (SNO)?
On an EBIT basis the return on assets of Santierul Naval Orsova SA is −0.9% (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 Santierul Naval Orsova SA (SNO)?
The operating margin of Santierul Naval Orsova SA is 15.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Santierul Naval Orsova SA (SNO)?
Revenue at Santierul Naval Orsova SA is growing +10.8% versus a year earlier (3y avg +26.9%). 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 Santierul Naval Orsova SA (SNO)?
Earnings per share at Santierul Naval Orsova SA are growing +118% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Nov 9, 2026