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Galp Energia, SGPS, S.A (0B67) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Galp Energia, SGPS, S.A €62.40, price €21.73, upside +187.2%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Industrials · GB · Home Portugal · ISIN PTGAL0AM0009

GE Thin data Sep 23, 2026

Galp Energia, SGPS, S.A

0B67 · LSE

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value €62.40 · Strongly undervalued (+187.2%)
!Quality 52/100
!Weak Growth (revenue 3y −8.9 %/yr)
!Thin margins · 3.3% net margin (TTM)
!Moderate debt
·2.9% dividend yield · Safety not assessed
!Moderate moat 46/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

€22.97 €6.61 Fair Value €62.40 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range €6.61 – €22.97 · fair‑value band €48.49 – €78.58 · the €21.73 price screens below the €62.40 fair value. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Galp Energia, SGPS, S.A. operates as an integrated energy operator in Portugal and internationally. The company operates through four segments: Upstream, Industrial & Midstream, Commercial, and Renewables. The Upstream segment engages in the exploration, development, and production of hydrocarbons primarily in Brazil, Mozambique, and Namibia.

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Galp Energia, SGPS, S.A. operates as an integrated energy operator in Portugal and internationally. The company operates through four segments: Upstream, Industrial & Midstream, Commercial, and Renewables. The Upstream segment engages in the exploration, development, and production of hydrocarbons primarily in Brazil, Mozambique, and Namibia. The Industrial & Midstream segment involved in refining and logistics business in Portugal, as well as is involved in activities related to oil products, carbon dioxide, gas, and power supply and trading activities. This segment also includes co-generation. The Commercial segment is involved in the areas of retail to final business-to-business and business to oil, gas, electric mobility, power and non-fuel products. The Renewables segment is involved in the renewables power generation and new businesses. In addition, the company engages in the reinsurance business. The company was formerly known as Galp " Petróleos e Gás de Portugal, SGPS, S.A. and changed its name to Galp Energia, SGPS, S.A. in September 2000. Galp Energia, SGPS, S.A. was incorporated in 1999 and is headquartered in Lisbon, Portugal.

Stock analysis

Galp Energia, SGPS, S.A (0B67) currently trades at €21.73, while our model-based Fair Value estimate is €62.40, implying the stock looks roughly 65.2% undervalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of €70.65 per share, and 9 of the 12 models we run sit above the €21.73 price.

Bear case: the Dividend Discount group reads lowest at €11.27, and 3 of the 12 models stay below the price. Evidence for this calculation is low.

Scenario range: €48.49 (bear) to €78.58 (bull), the price of €21.73 sits below 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 52/100 (solid quality), in the Industrials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Galp Energia, SGPS, S.A reported revenue of €11.6B in FY2020 versus €13.2B in FY2016, a compound −3.3%/yr. Reported net income was −€551M in FY2020.

Key figures

Market cap €7.7B · P/S ratio 0.39 · Dividend yield 2.9% · Net margin −4.8% · Return on equity 16.1% · Return on assets (EBIT) 6.6% · Operating margin 14.7% · Revenue (TTM) €19.7B.

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 5% below its 52-week high and 57% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −24% fair-value upside, at 187%, 0B67 screens cheaper than that median.

Fair Value models

Bear €48.49 Fair Value €62.40 Bull €78.58
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence ⓘEvidence = 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.
Highest evidence
FCF DCF €75.48 €104.65 €157.01 76
Growth DCF €78.85 €106.96 €153.52 75
5Y EBITDA Exit €40.21 €51.64 €66.81 73
All 12 models by family
DCF Models
FCF DCF €75.48 €104.65 €157.01 76
5Y Revenue Exit €50.08 €68.72 €95.69 70
5Y EBITDA Exit €40.21 €51.64 €66.81 73
10Y Revenue Exit €58.78 €73.36 €88.39 65
10Y EBITDA Exit €53.95 €63.04 €71.82 67
Dividend Discount
Gordon GGM €10.35 €11.27 €12.68 67
DDM Multi-Stage €10.35 €12.78 €16.11 65
Multiples
EV/EBITDA €20.33 €28.53 €36.74 67
EV/Revenue €36.60 €54.12 €71.64 53
Asset-Based
NCAV (Graham) €4.43 €5.94 €8.86 54
Growth DCF
Growth DCF €78.85 €106.96 €153.52 75
Rev-Margin DCF €50.08 €70.65 €96.54 70

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Quality Score breakdown

Overall quality 52/100

Of which business quality 51 · Market factors (momentum, volatility) 70

Profitability 19
Margins and returns on capital today
Quality Growth 9
Are margins and returns improving?
Cashflow 95
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)

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Revenue & earnings trend

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. 34/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−31.7%
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.
−8.9%
Profit margin (trend) ⓘ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.
4.1% (2016) → −2.4% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

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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 · 227 stocks

Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 52 · Below median
Fair Value upside +37.8% · Top 25%
Profitability
Return on equity (TTM) 16.1% · Above median
Return on assets 8.6% · Top 25%
Net margin (TTM) 3.3% · Below median
Operating margin (TTM) 14.7% · Above median
Growth and dividend
Revenue growth 4.8% · Below median
Dividend yield (TTM) 2.9% · Top 25%
Balance sheet
Debt / equity 1.01× · Highest 25%

Valuation Multiplesvs Aerospace & Defense median · lower = cheaper

P/B 2.85× · Cheaper than median
P/S (TTM) 0.46× · Cheapest 25%
EV/EBITDA 4.0× · Cheapest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
General Electric Company GE $312.29 $92.61 −70%
RTX Corporation RTX $185.01 $88.30 −52%
Airbus SE AIR €185.60 €112.14 −40%
Lockheed Martin Corporation LMT $509.25 $439.62 −14%
Howmet Aerospace Inc HWM $230.94 $52.67 −77%
General Dynamics Corporation GD $334.16 $274.19 −18%
Northrop Grumman Corporation NOC $504.61 $382.98 −24%
TransDigm Group TDG $1,116 $1,228 +10%
Thales S.A HO €222.70 €170.99 −23%
Rheinmetall AG RHM €956.90 €313.19 −67%

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Galp Energia, SGPS, S.A · Fair Value
€62.40 +65%Fair Value
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Cite: Fair Value Calculator (2026). "Galp Energia, SGPS, S.A Fair Value". https://www.fairvalue-calculator.com/stock/0B67

Frequently asked questions

Is Galp Energia, SGPS, S.A (0B67) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €62.40 versus a price of €21.73, about +187% upside (undervalued).
What is the fair value of 0B67?
Our model-based fair value for Galp Energia, SGPS, S.A is €62.40 (as of Sep 23, 2026), built from audited fundamentals. The current price: €21.73.
What is the quality score of 0B67?
Galp Energia, SGPS, S.A has a Quality Score of 52/100. 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 Galp Energia, SGPS, S.A (0B67)?
Our model-based price target is the fair value of €62.40 (as of Sep 23, 2026) from 12 valuation models. Cautious scenario €48.49, optimistic scenario €78.58. It is a calculation from audited fundamentals, not an analyst target.
What is the Galp Energia, SGPS, S.A stock forecast for 2026?
Our models put fair value at €62.40, about +187% upside versus a price of €21.73 (undervalued). Cautious scenario €48.49, optimistic scenario €78.58. The calculation is refreshed regularly with new filings.
What is the revenue of Galp Energia, SGPS, S.A (0B67)?
Galp Energia, SGPS, S.A reported trailing-twelve-month revenue of about €19.7B (latest available figure, as of Sep 23, 2026).
Does Galp Energia, SGPS, S.A pay a dividend?
Galp Energia, SGPS, S.A currently shows a dividend yield of about 2.95% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Galp Energia, SGPS, S.A (0B67)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Galp Energia, SGPS, S.A it is €62.40 per share (as of Sep 23, 2026), against a price of €21.73. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Galp Energia, SGPS, S.A stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 0B67 trades below its calculated fair value: price €21.73, fair value €62.40, a gap of about +187% (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 0B67?
No. The price is what the market pays today (€21.73); the fair value is what the company's own numbers justify (€62.40). For Galp Energia, SGPS, S.A the two are €40.68 per share apart. That gap is exactly why we show both numbers side by side.
How much is Galp Energia, SGPS, S.A worth?
The market values Galp Energia, SGPS, S.A at about €7.7B (market capitalisation, as of Sep 23, 2026). Per share that is €21.73; our models calculate a fair value of €62.40 per share.
What do the bullish and bearish scenarios say about 0B67?
Our models span a range for Galp Energia, SGPS, S.A: cautious scenario €48.49, base €62.40, optimistic €78.58 per share (as of Sep 23, 2026, price €21.73). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Galp Energia, SGPS, S.A (0B67)?
Balance-sheet figures for Galp Energia, SGPS, S.A (as of Sep 23, 2026): return on equity 16.1%, debt of 1.01 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 0B67 from its 52-week high?
Galp Energia, SGPS, S.A trades at €21.73, about 5% below its 52-week high of €22.97 and 57% above the low of €13.80 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €62.40 is for.
Which stocks are comparable to Galp Energia, SGPS, S.A?
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 Galp Energia, SGPS, S.A stock attractive at the current price?
The data as of Sep 23, 2026: price €21.73, calculated fair value €62.40 (+187%), Quality Score 52/100, from 12 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 0B67 calculated?
We run Galp Energia, SGPS, S.A through 12 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 €62.40, 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 14.5 % above its aggregate fair value. Galp Energia, SGPS, S.A currently trades 65 % 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 Galp Energia, SGPS, S.A (0B67)?
The closing price on Oct 2, 2026 was €21.73. Our model-based fair value is €62.40, about +187% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Galp Energia, SGPS, S.A right now?
The price is below even our cautious bear case (€48.49). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of Galp Energia, SGPS, S.A

How large is the market capitalisation of Galp Energia, SGPS, S.A (0B67)?
The market capitalisation of Galp Energia, SGPS, S.A is €7.7B. 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 Galp Energia, SGPS, S.A (0B67)?
The price-to-sales ratio of Galp Energia, SGPS, S.A is 0.39 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Galp Energia, SGPS, S.A (0B67)?
The dividend yield of Galp Energia, SGPS, S.A is 2.9%. 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 Galp Energia, SGPS, S.A (0B67)?
The net margin of Galp Energia, SGPS, S.A is −4.8% (fiscal year 2020). 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 Galp Energia, SGPS, S.A (0B67)?
The return on equity (ROE) of Galp Energia, SGPS, S.A is 16.1% (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 Galp Energia, SGPS, S.A (0B67)?
On an EBIT basis the return on assets of Galp Energia, SGPS, S.A is 6.6% (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 Galp Energia, SGPS, S.A (0B67)?
The operating margin of Galp Energia, SGPS, S.A is 14.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Galp Energia, SGPS, S.A (0B67)?
Revenue at Galp Energia, SGPS, S.A is growing +4.8% versus a year earlier (3y avg −8.9%). 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 Galp Energia, SGPS, S.A (0B67)?
Earnings per share at Galp Energia, SGPS, S.A are growing +530% versus a year earlier. How much earnings per share grew versus a year earlier.
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