Atenor SA (0NG6) fair value: what the stock is really worth
As of Sep 29, 2026: fair value of Atenor SA €1.61, price €1.07, upside +51.6%, quality 31 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 €1.04 – €37.17 · fair‑value band €1.00 – €2.48 · the €1.07 price screens below the €1.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Atenor SA operates as a real estate development company in Belgium, Hungary, Poland, the Netherlands, France, Portugal, Romania, Luxembourg, Germany, and the United Kingdom. It develops residential and non-residential projects.
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Atenor SA operates as a real estate development company in Belgium, Hungary, Poland, the Netherlands, France, Portugal, Romania, Luxembourg, Germany, and the United Kingdom. It develops residential and non-residential projects. The company also engages in the installation, maintenance, and repair of equipment, as well as in the renovation of existing buildings. In addition, it develops mixed-use urban projects, including offices, retail, housing, public facilities, and shops. It serves private individuals, businesses, public and local authorities, public and private investors, and companies through real estate agents and local networks, as well as by collaboration with tenants and investors. The company was founded in 1910 and is headquartered in La Hulpe, Belgium.
Stock analysis
Atenor SA (0NG6) currently trades at €1.07, while our model-based Fair Value estimate is €1.61, implying the stock looks roughly 34.0% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of €2.04 per share, and 7 of the 12 models we run sit above the €1.07 price.
Bear case: the Earnings-Based group reads lowest at €0.4111, and 5 of the 12 models stay below the price. Evidence for this calculation is low.
Scenario range: €1.00 (bear) to €2.48 (bull), the price of €1.07 sits inside 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 31/100 (below-average quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Atenor SA reported revenue of €132M in FY2020 versus €157M in FY2016, a compound −4.2%/yr. Reported net income was €24.1M in FY2020, compounding +4.3%/yr from FY2016.
Key figures
Market cap €10.0M · P/E ratio 0.0 · EPS (TTM) €5.66 · Net margin 18.3% · Return on equity −54.6% · Return on assets (EBIT) 5.6% · Operating margin −55.2% · Revenue (TTM) €147M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 65% below its 52-week high and 2% above its 52-week low.
For context, the median of 10 Industrials peers we cover trades at −24% fair-value upside, at 52%, 0NG6 screens cheaper than that median.
Fair Value models
Bear €1.00Fair Value €1.61Bull €2.48
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.
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.12/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+23.1%
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.
−15.7%
’16
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’18
’19
’20
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.
22.5% (2016) → 30.4% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
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 · 227 stocks
Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score31 · Bottom 25%
Fair Value upside+23.4% · Top 25%
Profitability
Return on assets−3.3% · Bottom 25%
Net margin (TTM)−94.4% · Bottom 25%
Operating margin (TTM)−55.2% · Bottom 25%
Growth and dividend
Revenue growth−49.8% · Bottom 25%
Balance sheet
Debt / equity1.68× · Highest 25%
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Atenor SA Fair Value". https://www.fairvalue-calculator.com/stock/0NG6
Frequently asked questions
Is Atenor SA (0NG6) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €1.61 versus a price of €1.07, about +52% upside (undervalued).
What is the fair value of 0NG6?
Our model-based fair value for Atenor SA is €1.61 (as of Sep 24, 2026), built from audited fundamentals. The current price: €1.07.
What is the quality score of 0NG6?
Atenor SA has a Quality Score of 31/100. 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 Atenor SA (0NG6)?
Our model-based price target is the fair value of €1.61 (as of Sep 24, 2026) from 12 valuation models. Cautious scenario €1.00, optimistic scenario €2.48. It is a calculation from audited fundamentals, not an analyst target.
What is the Atenor SA stock forecast for 2026?
Our models put fair value at €1.61, about +52% upside versus a price of €1.07 (undervalued). Cautious scenario €1.00, optimistic scenario €2.48. The calculation is refreshed regularly with new filings.
What is the revenue of Atenor SA (0NG6)?
Atenor SA reported trailing-twelve-month revenue of about €147M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Atenor SA (0NG6)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Atenor SA it is €1.61 per share (as of Sep 24, 2026), against a price of €1.07. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Atenor SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0NG6 trades below its calculated fair value: price €1.07, fair value €1.61, a gap of about +52% (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 0NG6?
No. The price is what the market pays today (€1.07); the fair value is what the company's own numbers justify (€1.61). For Atenor SA the two are €0.5495 per share apart. That gap is exactly why we show both numbers side by side.
How much is Atenor SA worth?
The market values Atenor SA at about €10.0M (market capitalisation, as of Sep 24, 2026). Per share that is €1.07; our models calculate a fair value of €1.61 per share.
What do the bullish and bearish scenarios say about 0NG6?
Our models span a range for Atenor SA: cautious scenario €1.00, base €1.61, optimistic €2.48 per share (as of Sep 24, 2026, price €1.07). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0NG6?
Atenor SA trades at a price-to-earnings ratio of 0.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €1.61 is built from several models across several years. Other multiples: P/S 0.1.
How solid is the balance sheet of Atenor SA (0NG6)?
Balance-sheet figures for Atenor SA (as of Sep 24, 2026): return on equity −54.6%, debt of 1.68 per unit of equity. They feed the Quality Score of 31/100, which measures business quality independently of the share price.
How far is 0NG6 from its 52-week high?
Atenor SA trades at €1.07, about 65% below its 52-week high of €3.04 and 2% above the low of €1.04 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of €1.61 is for.
Which stocks are comparable to Atenor 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 Atenor SA stock attractive at the current price?
The data as of Sep 24, 2026: price €1.07, calculated fair value €1.61 (+52%), Quality Score 31/100, 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 0NG6 calculated?
We run Atenor SA 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 €1.61, 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. Atenor SA currently trades 34 % 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 Atenor SA (0NG6)?
The closing price on Sep 29, 2026 was €1.07. Our model-based fair value is €1.61, about +52% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Atenor SA right now?
The large discount to fair value meets weak quality (31/100). That raises the risk this is a value trap rather than a bargain. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (€1.00 to €2.48) leaves room in how you read the outcome.
Key figures of Atenor SA
How large is the market capitalisation of Atenor SA (0NG6)?
The market capitalisation of Atenor SA is €10.0M. 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 are the earnings per share of Atenor SA (0NG6)?
Earnings per share at Atenor SA are €5.66 (price ÷ EPS = P/E 0.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Atenor SA (0NG6)?
The net margin of Atenor SA is 18.3% (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 Atenor SA (0NG6)?
The return on equity (ROE) of Atenor SA is −54.6% (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 Atenor SA (0NG6)?
On an EBIT basis the return on assets of Atenor SA is 5.6% (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 Atenor SA (0NG6)?
The operating margin of Atenor SA is −55.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Atenor SA (0NG6)?
Revenue at Atenor SA is growing −49.8% versus a year earlier (3y avg −15.7%). 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 Atenor SA (0NG6)?
Earnings per share at Atenor SA are growing −69.6% versus a year earlier. How much earnings per share grew versus a year earlier.
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