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Sonae, SGPS, S.A (0ML0) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Sonae, SGPS, S.A €1.51, price €2.04, upside -26.1%, quality 51 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? Yes
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Industrials · GB · Home Portugal · ISIN PTSON0AM0001

SS Thin data Sep 24, 2026

Sonae, SGPS, S.A

0ML0 · LSE

Overvalued / MonitorQuality is not strong enough to offset the price risk.

!Fair value €1.51 · Overvalued (−26.1%)
!Quality 51/100
!Mixed Growth (revenue 3y +7.4 %/yr)
!Thin margins · 1.8% net margin (TTM)
!Moderate debt
!Narrow moat 30/100
!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

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

Price vs Fair Value

€2.15 €0.6210 Fair Value €1.51 Jul 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 €0.6210 – €2.15 · fair‑value band €1.06 – €1.88 · the €2.04 price screens above the €1.51 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Sonae, SGPS, S.A. operates a portfolio of businesses in retail, real estate, telecommunications, technology, and financial services in Portugal and internationally. The company operates through six segments: MC, Worten, Musti, Sierra, Bright Pixel, and NOS.

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Sonae, SGPS, S.A. operates a portfolio of businesses in retail, real estate, telecommunications, technology, and financial services in Portugal and internationally. The company operates through six segments: MC, Worten, Musti, Sierra, Bright Pixel, and NOS. It is involved in retailing in the food sector through a network of stores, such as Continente Modelo and Continente Bom Dia supermarkets, Continente hypermarkets, and Meu Super, a franchised supermarket; health and wellness markets under the Wells, Arenal, Druni, and other retail banners; bookshops and stationery under the Note! brand; and cafeterias and restaurants under the Bagga brand. The company also offers electronics and appliances through digital channels and physical stores; a range of services under the Worten Resolve and iServices brands; retail products and services for pets under the Musti ja Miri, Arken Zoo, Musti, Pet City, and ZU brands; telecommunication services, including Pay TV, broadband services, and cinema film exhibition and distribution; wellbeing solutions; financial solutions; and jeanswear, clothing, and accessories. In addition, it operates in the real estate sector; and invests in the retail technology, digital infrastructure, and cybersecurity. The company was founded in 1959 and is headquartered in Cidade da Maia, Portugal. Sonae, SGPS, S.A. operates as a subsidiary of Efanor Investimentos SGPS, S.E.

Stock analysis

Sonae, SGPS, S.A (0ML0) currently trades at €2.04, while our model-based Fair Value estimate is €1.51, 26.1% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of €4.85 per share, and 10 of the 25 models we run sit above the €2.04 price.

Bear case: the Earnings-Based group reads lowest at €0.4800, and 15 of the 25 models stay below the price. Evidence for this calculation is low.

Scenario range: €1.06 (bear) to €1.88 (bull), the price of €2.04 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 51/100 (solid quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Sonae, SGPS, S.A reported revenue of €6.8B in FY2020 versus €5.3B in FY2016, a compound +6.4%/yr. Reported net income was €70.9M in FY2020, compounding −24.2%/yr from FY2016.

Key figures

Market cap €2.0B · P/S ratio 0.17 · Dividend yield 4.8% · Net margin 1.0% · Return on equity 8.0% · Return on assets (EBIT) 2.1% · Operating margin 3.4% · Revenue (TTM) €11.7B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 5% below its 52-week high and 54% 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 −26%, 0ML0 screens richer than that median.

Fair Value models

Bear €1.06 Fair Value €1.51 Bull €1.88
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 €5.87 €9.48 €14.77 75
Growth DCF €5.96 €9.13 €13.49 74
Residual Income €1.48 €1.47 €1.50 73
All 25 models by family
DCF Models
FCF DCF €5.87 €9.48 €14.77 75
5Y Revenue Exit €2.39 €3.45 €4.69 70
5Y EBITDA Exit €4.08 €6.61 €9.51 71
5Y P/E Exit €2.15 €3.01 €3.85 68
10Y Revenue Exit €3.59 €4.85 €6.38 65
10Y EBITDA Exit €4.68 €7.00 €9.98 65
10Y P/E Exit €3.48 €4.56 €5.75 62
Earnings-Based
Graham-Dodd €0.4900 €1.54 €2.04 62
Lynch FV €0.3400 €0.4800 €0.6200 58
PEG = 1.0 €0.3400 €0.4800 €0.6200 55
EPV €0.3400 €0.5400 €0.7200 72
Dividend Discount
Gordon GGM €0.8600 €1.71 €2.58 64
DDM Multi-Stage €0.8600 €1.40 €1.80 64
Multiples
P/E Multiple €1.13 €1.51 €1.89 63
P/S Multiple €0.9200 €1.22 €1.53 58
P/B Multiple €0.9200 €1.22 €1.53 55
EV/EBIT €1.06 €1.74 €2.41 64
EV/EBITDA €3.56 €5.07 €6.58 67
EV/Revenue €0.4900 €1.10 €1.72 51
Asset-Based
NCAV (Graham) €1.01 €1.35 €2.02 54
Growth DCF
Growth DCF €5.96 €9.13 €13.49 74
Rev-Margin DCF €2.39 €3.56 €4.95 69
Economic Profit
Residual Income €1.48 €1.47 €1.50 73
ROIC Compounder €0.3400 €0.5400 €0.7200 68
Growth Earnings
Growth-Adj P/E €0.9400 €1.34 €1.74 65

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Quality Score breakdown

Overall quality 51/100

Of which business quality 51 · Market factors (momentum, volatility) 76

Profitability 34
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 80
Earnings quality: real cash, not paper profit
Fin. Strength 23
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 88
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. 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+6.1%
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.
+7.4%
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.
2.0% (2016) → 2.3% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

0ML0 screens overvalued: fair value 26% below the price. Compare with General Electric Company →

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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 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 51 · Below median
Fair Value upside −26.0% · Above median
Profitability
Return on equity (TTM) 8.0% · Below median
Return on assets 2.8% · Below median
Net margin (TTM) 1.8% · Bottom 25%
Operating margin (TTM) 3.4% · Below median
Growth and dividend
Revenue growth 7.4% · Below median
Dividend yield (TTM) 4.8% · Top 25%
Balance sheet
Debt / equity 0.85× · Highest 25%

Valuation Multiplesvs Aerospace & Defense median · lower = cheaper

P/B 1.17× · Cheapest 25%
P/S (TTM) 0.20× · Cheapest 25%
EV/EBITDA 4.8× · 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

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Airbus SE AIR €185.60 €112.14 −40%
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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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Sonae, SGPS, S.A · Fair Value
€1.51 −26%Fair Value
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Cite: Fair Value Calculator (2026). "Sonae, SGPS, S.A Fair Value". https://www.fairvalue-calculator.com/stock/0ML0

Frequently asked questions

Is Sonae, SGPS, S.A (0ML0) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €1.51 versus a price of €2.04, about −26% upside (overvalued).
What is the fair value of 0ML0?
Our model-based fair value for Sonae, SGPS, S.A is €1.51 (as of Sep 24, 2026), built from audited fundamentals. The current price: €2.04.
What is the quality score of 0ML0?
Sonae, SGPS, S.A has a Quality Score of 51/100. 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 Sonae, SGPS, S.A (0ML0)?
Our model-based price target is the fair value of €1.51 (as of Sep 24, 2026) from 25 valuation models. Cautious scenario €1.06, optimistic scenario €1.88. It is a calculation from audited fundamentals, not an analyst target.
What is the Sonae, SGPS, S.A stock forecast for 2026?
Our models put fair value at €1.51, about −26% upside versus a price of €2.04 (overvalued). Cautious scenario €1.06, optimistic scenario €1.88. The calculation is refreshed regularly with new filings.
What is the revenue of Sonae, SGPS, S.A (0ML0)?
Sonae, SGPS, S.A reported trailing-twelve-month revenue of about €11.7B (latest available figure, as of Sep 24, 2026).
Does Sonae, SGPS, S.A pay a dividend?
Sonae, SGPS, S.A currently shows a dividend yield of about 4.77% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Sonae, SGPS, S.A (0ML0)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sonae, SGPS, S.A it is €1.51 per share (as of Sep 24, 2026), against a price of €2.04. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Sonae, SGPS, S.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0ML0 trades above its calculated fair value: price €2.04, fair value €1.51, a gap of about −26% (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 0ML0?
No. The price is what the market pays today (€2.04); the fair value is what the company's own numbers justify (€1.51). For Sonae, SGPS, S.A the two are €0.5325 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sonae, SGPS, S.A worth?
The market values Sonae, SGPS, S.A at about €2.0B (market capitalisation, as of Sep 24, 2026). Per share that is €2.04; our models calculate a fair value of €1.51 per share.
What do the bullish and bearish scenarios say about 0ML0?
Our models span a range for Sonae, SGPS, S.A: cautious scenario €1.06, base €1.51, optimistic €1.88 per share (as of Sep 24, 2026, price €2.04). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Sonae, SGPS, S.A (0ML0)?
Balance-sheet figures for Sonae, SGPS, S.A (as of Sep 24, 2026): return on equity 8.0%, debt of 0.85 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 0ML0 from its 52-week high?
Sonae, SGPS, S.A trades at €2.04, about 5% below its 52-week high of €2.15 and 54% above the low of €1.33 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €1.51 is for.
Which stocks are comparable to Sonae, 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 Sonae, SGPS, S.A stock attractive at the current price?
The data as of Sep 24, 2026: price €2.04, calculated fair value €1.51 (−26%), Quality Score 51/100, from 25 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 0ML0 calculated?
We run Sonae, SGPS, S.A through 25 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 €1.51, 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. Sonae, SGPS, 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 Sonae, SGPS, S.A (0ML0)?
The closing price on Oct 2, 2026 was €2.04. Our model-based fair value is €1.51, about −26% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sonae, SGPS, S.A right now?
The price sits above even our optimistic bull case (€1.88). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Sonae, SGPS, S.A

How large is the market capitalisation of Sonae, SGPS, S.A (0ML0)?
The market capitalisation of Sonae, SGPS, S.A is €2.0B. 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 Sonae, SGPS, S.A (0ML0)?
The price-to-sales ratio of Sonae, SGPS, S.A is 0.17 (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 Sonae, SGPS, S.A (0ML0)?
The dividend yield of Sonae, SGPS, S.A is 4.8%. 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 Sonae, SGPS, S.A (0ML0)?
The net margin of Sonae, SGPS, S.A is 1.0% (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 Sonae, SGPS, S.A (0ML0)?
The return on equity (ROE) of Sonae, SGPS, S.A is 8.0% (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 Sonae, SGPS, S.A (0ML0)?
On an EBIT basis the return on assets of Sonae, SGPS, S.A is 2.1% (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 Sonae, SGPS, S.A (0ML0)?
The operating margin of Sonae, SGPS, S.A is 3.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sonae, SGPS, S.A (0ML0)?
Revenue at Sonae, SGPS, S.A is growing +7.4% versus a year earlier (3y avg +7.4%). 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 Sonae, SGPS, S.A (0ML0)?
Earnings per share at Sonae, SGPS, S.A are growing +10.8% versus a year earlier. How much earnings per share grew versus a year earlier.
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