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Elia Group (0NTU) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Elia Group €130, price €119, upside +10.0%, quality 42 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? No
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Utilities · GB · Home Belgium · ISIN BE0003822393

EG Thin data Oct 3, 2026

Elia Group

0NTU · LSE

Low PriorityQuality growthFair Value upside is limited and quality is weak.

·Fair value €130.41 · Fairly valued (+10.0%)
!Quality 42/100
!Mixed Growth (revenue 3y +39.8 %/yr)
✓Solidly profitable · 13.2% net margin (TTM)
!High debt
·1.7% dividend yield · Safety not assessed
!Moderate moat 62/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

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

Price vs Fair Value

€142.63 €56.17 Fair Value €130.41 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range €56.17 – €142.63 · fair‑value band €91.29 – €169.53 · the €118.55 price screens below the €130.41 fair value. Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

Elia Group SA/NV develops and operates as a transmission system operator in Belgium and Germany. The company provides electricity transmission solutions; generates, imports, and exports electricity; and offers engineering consultancy services. Elia Group SA/NV was founded in 1937 and is headquartered in Brussels, Belgium.

Stock analysis

Elia Group (0NTU) currently trades at €118.55, while our model-based Fair Value estimate is €130.41, implying the stock looks roughly 9.1% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of €189.72 per share, and 7 of the 22 models we run sit above the €118.55 price.

Bear case: the Dividend Discount group reads lowest at €31.95, and 15 of the 22 models stay below the price. Evidence for this calculation is low.

Scenario range: €91.29 (bear) to €169.53 (bull), the price of €118.55 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 42/100 (below-average quality), in the Utilities sector.

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

Elia Group reported revenue of €2.2B in FY2020 versus €800M in FY2016, a compound +28.9%/yr. Reported net income was €269M in FY2020, compounding +10.6%/yr from FY2016.

Key figures

Market cap €7.8B · P/S ratio 1.76 · Dividend yield 1.7% · Net margin 12.2% · Return on equity 9.0% · Return on assets (EBIT) 3.5% · Operating margin 36.8% · Revenue (TTM) €4.4B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 15% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −31% fair-value upside, at 10%, 0NTU screens cheaper than that median.

Fair Value models

Bear €91.29 Fair Value €130.41 Bull €169.53
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
Residual Income €49.90 €51.86 €56.22 73
FCF DCF €208.81 €425.16 €1,005 69
Growth DCF €195.34 €476.35 €981.43 69
All 23 models by family
DCF Models
FCF DCF €208.81 €425.16 €1,005 69
5Y Revenue Exit €31.04 €104.28 €224.71 63
5Y EBITDA Exit €69.89 €189.72 €381.66 66
5Y P/E Exit €25.84 €101.94 €190.36 62
10Y Revenue Exit €83.18 €191.55 €314.52 61
10Y EBITDA Exit €111.95 €261.29 €507.65 61
10Y P/E Exit €81.86 €182.22 €330.71 58
Earnings-Based
Graham-Dodd €27.72 €185.45 €259.79 60
Lynch FV €54.25 €77.51 €100.76 58
PEG = 1.0 €54.25 €77.51 €100.76 55
Dividend Discount
Gordon GGM €18.56 €36.97 €55.99 64
DDM Multi-Stage €18.56 €31.95 €39.03 64
Multiples
P/E Multiple €55.04 €73.39 €91.74 63
P/S Multiple €51.98 €69.31 €86.64 58
P/B Multiple €51.98 €69.31 €86.64 55
EV/EBIT n/a €23.98 €56.29 61
EV/EBITDA €14.68 €54.66 €94.64 61
EV/Revenue n/a n/a €3.42 50
Asset-Based
NCAV (Graham) €31.58 €42.31 €63.16 54
Growth DCF
Growth DCF €195.34 €476.35 €981.43 69
Rev-Margin DCF €27.03 €101.64 €204.67 63
Economic Profit
Residual Income €49.90 €51.86 €56.22 73
Growth Earnings
Growth-Adj P/E €70.68 €100.97 €131.26 65

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Quality Score breakdown

Overall quality 42/100

Of which business quality 42 · Market factors (momentum, volatility) 54

Profitability 26
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 10
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 54
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. 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.5%
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.
+39.8%
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.
27.1% (2016) → 25.8% (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.Utilities - Regulated Electric · 155 stocks

Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 42 · Below median
Fair Value upside −53.9% · Bottom 25%
Profitability
Return on equity (TTM) 9.0% · Below median
Return on assets 3.6% · Above median
Net margin (TTM) 13.2% · Above median
Operating margin (TTM) 36.8% · Top 25%
Growth and dividend
Revenue growth 14.6% · Top 25%
Dividend yield (TTM) 1.7% · Bottom 25%
Balance sheet
Debt / equity 1.72× · Highest 25%

Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper

P/B 2.18× · Priciest 25%
P/S (TTM) 2.05× · Pricier than median
EV/EBITDA 7.0× · 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 Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
NextEra Energy, Inc NEE $75.74 $29.97 −60%
The Southern Company SO $82.89 $57.57 −31%
Duke Energy Corporation DUK $113.41 $74.88 −34%
American Electric Power Company AEP $118.64 $100.03 −16%
Dominion Energy, Inc D $60.76 $37.84 −38%
Entergy Corporation ETR $98.10 $37.37 −62%
Xcel Energy Inc XEL $69.39 $54.92 −21%
Exelon Corporation EXC $40.32 $36.01 −11%
Consolidated Edison, Inc ED $103.33 $47.76 −54%
PG&E Corporation PCG $12.34 $17.85 +45%

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Cite: Fair Value Calculator (2026). "Elia Group Fair Value". https://www.fairvalue-calculator.com/stock/0NTU

Frequently asked questions

Is Elia Group (0NTU) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of €130.41 versus a price of €118.55, about +10% upside (undervalued).
What is the fair value of 0NTU?
Our model-based fair value for Elia Group is €130.41 (as of Oct 3, 2026), built from audited fundamentals. The current price: €118.55.
What is the quality score of 0NTU?
Elia Group has a Quality Score of 42/100. 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 Elia Group (0NTU)?
Our model-based price target is the fair value of €130.41 (as of Oct 3, 2026) from 23 valuation models. Cautious scenario €91.29, optimistic scenario €169.53. It is a calculation from audited fundamentals, not an analyst target.
What is the Elia Group stock forecast for 2026?
Our models put fair value at €130.41, about +10% upside versus a price of €118.55 (undervalued). Cautious scenario €91.29, optimistic scenario €169.53. The calculation is refreshed regularly with new filings.
What is the revenue of Elia Group (0NTU)?
Elia Group reported trailing-twelve-month revenue of about €4.4B (latest available figure, as of Oct 3, 2026).
Does Elia Group pay a dividend?
Elia Group currently shows a dividend yield of about 1.73% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of Elia Group (0NTU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Elia Group it is €130.41 per share (as of Oct 3, 2026), against a price of €118.55. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Elia Group stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 0NTU trades below its calculated fair value: price €118.55, fair value €130.41, a gap of about +10% (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 0NTU?
No. The price is what the market pays today (€118.55); the fair value is what the company's own numbers justify (€130.41). For Elia Group the two are €11.86 per share apart. That gap is exactly why we show both numbers side by side.
How much is Elia Group worth?
The market values Elia Group at about €7.8B (market capitalisation, as of Oct 3, 2026). Per share that is €118.55; our models calculate a fair value of €130.41 per share.
What do the bullish and bearish scenarios say about 0NTU?
Our models span a range for Elia Group: cautious scenario €91.29, base €130.41, optimistic €169.53 per share (as of Oct 3, 2026, price €118.55). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Elia Group (0NTU)?
Balance-sheet figures for Elia Group (as of Oct 3, 2026): return on equity 9.0%, debt of 1.72 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 0NTU from its 52-week high?
Elia Group trades at €118.55, about 15% below its 52-week high of €140.00 and 23% above the low of €96.40 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €130.41 is for.
Which stocks are comparable to Elia Group?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, 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 Elia Group stock attractive at the current price?
The data as of Oct 3, 2026: price €118.55, calculated fair value €130.41 (+10%), Quality Score 42/100, from 23 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 0NTU calculated?
We run Elia Group through 23 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 €130.41, 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. Elia Group currently trades 9 % 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 Elia Group (0NTU)?
The closing price on Oct 2, 2026 was €118.55. Our model-based fair value is €130.41, about +10% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Elia Group right now?
A fairly wide model range (€91.29 to €169.53) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Elia Group

How large is the market capitalisation of Elia Group (0NTU)?
The market capitalisation of Elia Group is €7.8B. 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 Elia Group (0NTU)?
The price-to-sales ratio of Elia Group is 1.76 (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 Elia Group (0NTU)?
The dividend yield of Elia Group is 1.7%. 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 Elia Group (0NTU)?
The net margin of Elia Group is 12.2% (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 Elia Group (0NTU)?
The return on equity (ROE) of Elia Group is 9.0% (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 Elia Group (0NTU)?
On an EBIT basis the return on assets of Elia Group is 3.5% (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 Elia Group (0NTU)?
The operating margin of Elia Group is 36.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Elia Group (0NTU)?
Revenue at Elia Group is growing +14.6% versus a year earlier (3y avg +39.8%). 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 Elia Group (0NTU)?
Earnings per share at Elia Group are growing −23.5% versus a year earlier. How much earnings per share grew versus a year earlier.
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