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Tubacex, S.A (0KD1) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Tubacex, S.A €1.06, price €2.89, upside -63.3%, quality 35 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Industrials · GB · Home Spain · ISIN ES0132945017

TS Some data Sep 24, 2026

Tubacex, S.A

0KD1 · LSE

Weakest SetupStrongly overvalued and low quality.

!Fair value €1.06 · Strongly overvalued (−63.3%)
!Quality 35/100
!Expensive Growth (revenue 5y +9.3 %/yr)
!Loss-making · -5.5% net margin (TTM)
!Moderate debt · negative free cash flow
!Narrow moat 26/100
!Evidence only medium, so the estimate is less certain
!The models disagree: range €0.2120 to €2.06
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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

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€4.17 €1.22 Fair Value €1.06 Mar 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range €1.22 – €4.17 · fair‑value band €0.2120 – €2.06 · the €2.89 price screens above the €1.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Tubacex, S.A., together with its subsidiaries, engages in the manufacturing and sale of stainless steel and nickel tubes in Spain and internationally.

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Tubacex, S.A., together with its subsidiaries, engages in the manufacturing and sale of stainless steel and nickel tubes in Spain and internationally. The company provides seamless stainless steel tubes, including CRA OCTG tubing and casing; aerospace, space exploration, and defense tubing; hydraulic and instrumentation tubing; heat exchanger tubing; subsea umbilicals; and medium and high pressure tubes, as well as machined components, including downhole mills, impellers, spiral mills, reamer, shoes, stabilizers, sensors, spools, bladed noses, float subs, and cross-overs. It also offers round bars, billets, and ingots; fittings, and special and machined components, such as butt-welding fittings, tube bends, elbows, tees, reducers and caps; Tubacoat, a ceramic coating for long steel and high-nickel alloy products; non-magnetic steel components; and instrumentation tubes, hydraulic tubes, exchanger tubes, isometric tubes, and piping. In addition, the company provides design and simulation, and logistic services; and added-value services comprising shotpeening, connection threading, bending, cutting, machining and bevelling, welding, overlay, preassemblies, marking, finning, studding, polishing, grooving, lab testing, packaging, and storage services. Further, it offers tube marketing, real estate, pipe rental, consulting and advisory, and research and development services. The company serves chemical and petrochemical, low carbon, power generation, electronics equipment, new technologies, oil and gas exploration and production, fertilizer, aerospace, hydrocarbon processing, and other industries. Tubacex, S.A. was incorporated in 1963 and is headquartered in Llodio, Spain.

Stock analysis

Tubacex, S.A (0KD1) currently trades at €2.89, while our model-based Fair Value estimate is €1.06, 63.3% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of €3.26 per share, and 1 of the 4 models we run sit above the €2.89 price.

Bear case: the Asset-Based group reads lowest at €1.51, and 3 of the 4 models stay below the price. Evidence for this calculation is medium.

Scenario range: €0.2120 (bear) to €2.06 (bull), the price of €2.89 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 35/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Tubacex, S.A reported revenue of €719M in FY2025 versus €342M in FY2021, a compound +20.4%/yr. Reported net income was −€31.3M in FY2025.

Key figures

Market cap €385M · P/S ratio 0.55 · EPS (TTM) €−0.1010 · Dividend yield 6.5% · Net margin −4.3% · Return on equity −7.4% · Return on assets (EBIT) 1.4% · Operating margin 4.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).

What moves the price

The share trades about 21% below its 52-week high and 16% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −58% fair-value upside, at −63%, 0KD1 screens richer than that median.

Fair Value models

Bear €0.2120 Fair Value €1.06 Bull €2.06
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
Gordon GGM €1.50 €1.86 €2.21 69
DDM Multi-Stage €1.50 €1.93 €2.39 67
EV/EBITDA €2.26 €3.26 €4.26 67
All 4 models by family
Dividend Discount
Gordon GGM €1.50 €1.86 €2.21 69
DDM Multi-Stage €1.50 €1.93 €2.39 67
Multiples
EV/EBITDA €2.26 €3.26 €4.26 67
Asset-Based
NCAV (Graham) €1.13 €1.51 €2.25 54

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Quality Score breakdown

Overall quality 35/100

Of which business quality 33 · Market factors (momentum, volatility) 42

Profitability 15
Margins and returns on capital today
Quality Growth 13
Are margins and returns improving?
Cashflow 3
Earnings quality: real cash, not paper profit
Fin. Strength 32
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 24
Distance to the 52-week high (market factor)
Net Issuance 92
Share count: buybacks or dilution?

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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. 27/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−6.2%
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.
+0.5%
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.
+9.3%
Start year 2020 (pandemic). Over 10 years: +3.0% a year
Revenue growth 13 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.
+2.3%
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.
−6.6% (2020) → −3.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

0KD1 screens overvalued: fair value 63% below the price. Compare with BAJAJST →

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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.Industrial Machinery · 17 stocks

Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 35 · Bottom 25%
Fair Value upside −62.6% · Below median
Profitability
Return on assets −0.1% · Bottom 25%
Net margin (TTM) −5.5% · Bottom 25%
Operating margin (TTM) 4.8% · Below median
Growth and dividend
Revenue growth −15.4% · Bottom 25%
Dividend yield (TTM) 6.5% · Top 25%
Balance sheet
Debt / equity 0.82× · Highest 25%

Valuation Multiplesvs Industrial Machinery median · lower = cheaper

P/B 1.53× · Cheaper than median
P/S (TTM) 0.64× · Cheapest 25%
EV/EBITDA 12.4× · Cheaper than median

Context: sector, industry, market

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 Industrial Machinery stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
BAJAJST BAJAJST ₹334.40 ₹188.79 −44%
SEALMATIC SEALMATIC ₹400.00 ₹86.20 −78%
BIRLAPREC BIRLAPREC ₹56.22 ₹20.03 −64%
Stovec Industries Limited 504959 ₹1,602 ₹431.70 −73%
EXPOGAS EXPOGAS ₹89.50 ₹37.65 −58%
CENLUB CENLUB ₹177.75 ₹288.04 +62%
ITL ITL ₹359.80 ₹221.94 −38%
CHANDNI CHANDNI ₹71.00 ₹20.37 −71%
CHANDNIMACH CHANDNIMACH ₹93.51 ₹17.66 −81%
CRANEX CRANEX ₹78.97 ₹44.07 −44%

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€1.06 −63%Fair Value
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Cite: Fair Value Calculator (2026). "Tubacex, S.A Fair Value". https://www.fairvalue-calculator.com/stock/0KD1

Frequently asked questions

Is Tubacex, S.A (0KD1) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €1.06 versus a price of €2.89, about −63% upside (overvalued).
What is the fair value of 0KD1?
Our model-based fair value for Tubacex, S.A is €1.06 (as of Sep 24, 2026), built from audited fundamentals. The current price: €2.89.
What is the quality score of 0KD1?
Tubacex, S.A has a Quality Score of 35/100. 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 Tubacex, S.A (0KD1)?
Our model-based price target is the fair value of €1.06 (as of Sep 24, 2026) from 4 valuation models. Cautious scenario €0.2120, optimistic scenario €2.06. It is a calculation from audited fundamentals, not an analyst target.
What is the Tubacex, S.A stock forecast for 2026?
Our models put fair value at €1.06, about −63% upside versus a price of €2.89 (overvalued). Cautious scenario €0.2120, optimistic scenario €2.06. The calculation is refreshed regularly with new filings.
What is the revenue of Tubacex, S.A (0KD1)?
Tubacex, S.A reported trailing-twelve-month revenue of about €695M (latest available figure, as of Sep 24, 2026).
Does Tubacex, S.A pay a dividend?
Tubacex, S.A currently shows a dividend yield of about 6.50% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Tubacex, S.A (0KD1)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tubacex, S.A it is €1.06 per share (as of Sep 24, 2026), against a price of €2.89. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Tubacex, S.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0KD1 trades above its calculated fair value: price €2.89, fair value €1.06, a gap of about −63% (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 0KD1?
No. The price is what the market pays today (€2.89); the fair value is what the company's own numbers justify (€1.06). For Tubacex, S.A the two are €1.83 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tubacex, S.A worth?
The market values Tubacex, S.A at about €385M (market capitalisation, as of Sep 24, 2026). Per share that is €2.89; our models calculate a fair value of €1.06 per share.
What do the bullish and bearish scenarios say about 0KD1?
Our models span a range for Tubacex, S.A: cautious scenario €0.2120, base €1.06, optimistic €2.06 per share (as of Sep 24, 2026, price €2.89). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tubacex, S.A (0KD1)?
Balance-sheet figures for Tubacex, S.A (as of Sep 24, 2026): return on equity −7.4%, debt of 0.82 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is 0KD1 from its 52-week high?
Tubacex, S.A trades at €2.89, about 21% below its 52-week high of €3.64 and 16% above the low of €2.50 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €1.06 is for.
Which stocks are comparable to Tubacex, S.A?
From the same area (Industrials) we also value BAJAJST, SEALMATIC, BIRLAPREC, Stovec Industries 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 Tubacex, S.A stock attractive at the current price?
The data as of Sep 24, 2026: price €2.89, calculated fair value €1.06 (−63%), Quality Score 35/100, from 4 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 0KD1 calculated?
We run Tubacex, S.A through 4 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 €1.06, 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. Tubacex, S.A 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 Tubacex, S.A (0KD1)?
The closing price on Oct 2, 2026 was €2.89. Our model-based fair value is €1.06, about −63% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tubacex, S.A right now?
The price sits above even our optimistic bull case (€2.06). The favourable scenario is already priced in. Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (€0.2120 to €2.06). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Where does the earnings growth of Tubacex, S.A (0KD1) come from?
Earnings per share at Tubacex, S.A grew +11.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.8 %, EBIT margin +5.7 %, tax rate +0.3 %, residual (interest, one-offs) −0.5 %. 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 Tubacex, S.A

How large is the market capitalisation of Tubacex, S.A (0KD1)?
The market capitalisation of Tubacex, S.A is €385M. 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 Tubacex, S.A (0KD1)?
The price-to-sales ratio of Tubacex, S.A is 0.55 (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 Tubacex, S.A (0KD1)?
Earnings per share at Tubacex, S.A are €−0.1010. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tubacex, S.A (0KD1)?
The dividend yield of Tubacex, S.A is 6.5%. 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 Tubacex, S.A (0KD1)?
The net margin of Tubacex, S.A is −4.3% (fiscal year 2025). 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 Tubacex, S.A (0KD1)?
The return on equity (ROE) of Tubacex, S.A is −7.4% (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 Tubacex, S.A (0KD1)?
On an EBIT basis the return on assets of Tubacex, S.A is 1.4% (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 Tubacex, S.A (0KD1)?
The operating margin of Tubacex, S.A is 4.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tubacex, S.A (0KD1)?
Revenue at Tubacex, S.A is growing −15.4% versus a year earlier (3y avg +0.5%). 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 Tubacex, S.A (0KD1)?
Earnings per share at Tubacex, S.A are growing +160% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tubacex, S.A (0KD1) generate?
The free cash flow of Tubacex, S.A is −€64.6M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Tubacex, S.A (0KD1) carry?
The net debt of Tubacex, S.A is €380M (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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