Jumbo S.A. (BELA) fair value: what the stock is really worth
We calculate from audited financials what Jumbo S.A. is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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Consumer Cyclical · GR · Market cap €3.5B · ISIN GRS282183003
At a glance
JSJumbo S.A.BELA · AT
Price€26.04
Fair Value€36.88
Upside+41.6%
Quality83/100
A strong business, trading 29% below our fair value of €36.88.
As of Sep 7, 2026, the fair value of Jumbo S.A. is €36.88 per share against a price of €26.04, so the fair value sits 42% above the price. A model estimate from reported figures, not an analyst target.
✓Healthy Growth (revenue 5y +12.2 %/yr)
✓Highly profitable · 26.0% net margin
✓Low debt · generates free cash flow
·2.69% dividend yield
✓Ranks above peers (9/15)
✓Wide moat 86/100
Evidence: HighRange €25.01 to €50.98
Fair value as of: Sep 7, 2026
From 24 valuation models · updated 3 days ago
Share price −1.6% over the past month.
This is the short version. In the app for Jumbo S.A.:
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What matters now
The rarer combination: high quality (83/100) AND below fair value. That earns a closer look rather than a quick verdict.
A fairly wide model range (€25.01 to €50.98) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 7, 2026.
How to read this chart
60‑month range €8.73 – €31.77 · fair‑value band €25.01 – €50.98 · the €26.04 price screens below the €36.88 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 7, 2026.
Jumbo S.A. (BELA) currently trades at €26.04, while our model-based Fair Value estimate is €36.88, implying the stock looks roughly 29.4% undervalued today. The Quality Score stands at 83/100 (high quality), in the Consumer Cyclical sector. Bull case: the Growth Earnings group reads highest at a median of €47.32 per share, and 15 of the 24 models we run sit above the €26.04 price. Bear case: the Asset-Based group reads lowest at €7.86, and 9 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Jumbo S.A. generated revenue of €1.2B at a net margin of 26.0%. Revenue grew 6.7% year over year. It earns a return on equity of 21.5%. The balance sheet holds a net cash position of €313M. Fundamentals as of Sep 7, 2026
Scenario range: €25.01 (bear) to €50.98 (bull), the price of €26.04 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 19% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −13% fair-value upside, at 42%, BELA screens cheaper than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (€1.16 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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.Evidence
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Key figures & financial health
P/E ratio10.9
P/S ratio2.84P/E × margin
EPS (TTM)€2.38price ÷ EPS = P/E 10.9
Dividend yield2.7%payout 29.4%
Net margin26.0%FY2025
Return on equity21.5%TTM
More key figures
Profitability
Return on assets (EBIT)19.4%avg 5y
Operating margin35.4%TTM
Growth
Revenue (TTM)€1.2BTTM
Revenue growth (YoY)+6.7%3y avg +9.1%
EPS growth (YoY)+3.6%
Balance sheet & cash flow
Free cash flow€259MFY2025
Net cash€313MFY2022
Figures from reported company fundamentals · as of Sep 7, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality83/100
Of which business quality 79
· Market factors (momentum, volatility) 57
Profitability76
Margins and returns on capital today
Quality Growth44
Are margins and returns improving?
Cashflow71
Earnings quality: real cash, not paper profit
Fin. Strength99
Balance sheet, leverage, solvency risk
Investment92
Disciplined investing over empire-building
Low Volatility91
Calm price path (market factor)
Momentum49
Price trend over the last 3–12 months (market factor)
52W Momentum33
Distance to the 52-week high (market factor)
Net Issuance90
Buybacks instead of dilution
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Jumbo S.A. engages in the retail sale of toys, baby products, gift articles, household products, stationery, seasonal and decoration items, books, and related products in Greece, Cyprus, Bulgaria, and Romania. The company operates e-jumbo, an online store. It is involved in the wholesale of toys and related products to third parties. Jumbo S.A.
Full company description
Jumbo S.A. engages in the retail sale of toys, baby products, gift articles, household products, stationery, seasonal and decoration items, books, and related products in Greece, Cyprus, Bulgaria, and Romania. The company operates e-jumbo, an online store. It is involved in the wholesale of toys and related products to third parties. Jumbo S.A. was incorporated in 1986 and is headquartered in Athens, Greece.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Jumbo S.A. reported revenue of €1.2B in FY2025 versus €832M in FY2021, a compound +10.3%/yr. Reported net income was €320M in FY2025, compounding +10.3%/yr from FY2021.
Growth Quality 96/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€1.2B
Latest YoY
+7.2%
Avg. revenue growth/yr (3Y) ⓘ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.
+9.1%
Avg. revenue growth/yr (5Y) ⓘ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.
+12.2%
Avg. revenue growth/yr (21Y) ⓘ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.
+8.3%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+15.5%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+12.8%
Dividend yield2.7%
Trend ⓘ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.5Y 12.8% vs 10Y 10.3%, steady
Operating margin (EBIT) ⓘ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.25.3% (2020) → 31.8% (2025) · rising
Worst earnings drop24% (2012) · in EUR
Revenue+10.3%/yr
FY21€832M
FY22€949M
FY23€1.1B
FY24€1.1B
FY25€1.2B
Net income+10.3%/yr
FY21€217M
FY22€249M
FY23€303M
FY24€320M
FY25€320M
Character of growth · EPS growth decomposed (2011-2022)+9.2 % p.a.
Revenue per share+5.4 %
of which total revenue +5.4 % · buybacks/dilution +0.0 %
EBIT margin+3.2 %
Tax rate+0.5 %
Residual (interest, one-offs)−0.1 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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). "Jumbo S.A. Fair Value". https://www.fairvalue-calculator.com/stock/BELA
Peer Group
Specialty Retail · 223 stocks
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.
Valuation
Quality Score83 · Top 25%
Fair Value upside+37% · Above median
Profitability
Return on equity (TTM)21% · Top 25%
Return on assets14% · Top 25%
Net margin (TTM)26% · Top 25%
Operating margin (TTM)35% · Top 25%
Growth and dividend
Revenue growth7% · Above median
Dividend yield (TTM)2.7% · Below median
Valuation Multiples vs Specialty Retail median · lower = cheaper
P/E (TTM)10.9× · Cheaper than median
P/B2.26× · Pricier than median
P/S (TTM)2.89× · Priciest 25%
P/FCF13.8× · Priciest 25%
EV/EBITDA7.1× · Cheaper than median
PEG10.83× · Priciest 25%
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must Jumbo S.A. deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
Implied FCF growth, 10 years+0.6 % per year
Achieved revenue growth, 5 years+12.2 % p.a.
Sector median revenue growth+2.7 %
FCF yield on price7.39 %
Discount rate (WACC) in the models10.9 %
The price demands less growth than the company recently delivered: even a weaker business would justify the price. Ranking of the largest stocks →
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
This stockSector peers
VALUE89· sector 32
FUTURE34· sector 23
PAST86· sector 27
HEALTH100· sector 96
DIVIDEND54· sector 56
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Specialty Retail stocks, each showing price versus our Fair Value estimate (as of Sep 7, 2026).
As of Sep 7, 2026, our model estimates a fair value of €36.88 versus a price of €26.04, about +42% upside (undervalued).
What is the fair value of BELA?
Our model-based fair value for Jumbo S.A. is €36.88 (as of Sep 7, 2026), built from audited fundamentals. The current price: €26.04.
What is the quality score of BELA?
Jumbo S.A. has a Quality Score of 83/100. 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 Jumbo S.A. (BELA)?
Our model-based price target is the fair value of €36.88 (as of Sep 7, 2026) from 24 valuation models. Cautious scenario €25.01, optimistic scenario €50.98. It is a calculation from audited fundamentals, not an analyst target.
What is the Jumbo S.A. stock forecast for 2026?
Our models put fair value at €36.88, about +42% upside versus a price of €26.04 (undervalued). Cautious scenario €25.01, optimistic scenario €50.98. The calculation is refreshed regularly with new filings.
What is the revenue of Jumbo S.A. (BELA)?
Jumbo S.A. reported trailing-twelve-month revenue of about €1.2B (latest available figure, as of Sep 7, 2026).
What is the net profit margin of BELA?
The net profit margin of Jumbo S.A. is about 26.0%, meaning it keeps roughly 26.0% of revenue as net income. Based on the latest reported figures.
Does Jumbo S.A. pay a dividend?
Jumbo S.A. currently shows a dividend yield of about 2.69% relative to its recent price (as of Sep 7, 2026).
What growth is priced into Jumbo S.A. (BELA)?
For today's price to be fair in a discounted-cash-flow model, Jumbo S.A. would have to grow free cash flow by +0.6 % per year for ten years (discount rate 10.9 %, then 2 % perpetual growth). Over the last 5 years revenue grew +12.2 % per year. As of Sep 7, 2026.
What discount rate (WACC) does the fair value of BELA use?
Our models discount Jumbo S.A. at 10.9 %: a base by market capitalisation (mid), damped by beta 0.32, country premium for Greece. The same rate applies in all 26 models.
What is the intrinsic value of Jumbo S.A. (BELA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jumbo S.A. it is €36.88 per share (as of Sep 7, 2026), against a price of €26.04. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Jumbo S.A. stock overvalued or undervalued in 2026?
As of Sep 7, 2026, BELA trades below its calculated fair value: price €26.04, fair value €36.88, a gap of about +42% (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 BELA?
No. The price is what the market pays today (€26.04); the fair value is what the company's own numbers justify (€36.88). For Jumbo S.A. the two are €10.84 per share apart. That gap is exactly why we show both numbers side by side.
How much is Jumbo S.A. worth?
The market values Jumbo S.A. at about €3.5B (market capitalisation, as of Sep 7, 2026). Per share that is €26.04; our models calculate a fair value of €36.88 per share.
What do the bullish and bearish scenarios say about BELA?
Our models span a range for Jumbo S.A.: cautious scenario €25.01, base €36.88, optimistic €50.98 per share (as of Sep 7, 2026, price €26.04). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BELA?
Jumbo S.A. trades at a price-to-earnings ratio of 10.9 (as of Sep 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €36.88 is built from several models across several years. Other multiples: PEG 10.8, P/B 2.3, P/S 2.9, EV/EBITDA 7.1.
What is the PEG ratio of BELA?
The PEG ratio of Jumbo S.A. is 10.83 (P/E divided by earnings growth, as of Sep 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Jumbo S.A. (BELA)?
Balance-sheet figures for Jumbo S.A. (as of Sep 7, 2026): return on equity 21.5%. They feed the Quality Score of 83/100, which measures business quality independently of the share price.
How far is BELA from its 52-week high?
Jumbo S.A. trades at €26.04, about 19% below its 52-week high of €32.03 and 23% above the low of €21.22 (as of Sep 7, 2026). Distance from the high says nothing about value: that is what the fair value of €36.88 is for.
Which stocks are comparable to Jumbo S.A.?
From the same area (Consumer Cyclical) we also value Alimentation Couche-Tard Inc, Casey's General Stores, Inc, Williams-Sonoma, Inc, Ulta Beauty, Inc, 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 Jumbo S.A. stock attractive at the current price?
The data as of Sep 7, 2026: price €26.04, calculated fair value €36.88 (+42%), Quality Score 83/100, from 24 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 BELA calculated?
We run Jumbo S.A. through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €36.88, with the spread shown as a cautious and an optimistic scenario.
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