Proximus NV (BGAOY) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Proximus NV $2.62, price $1.29, upside +103.1%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Proximus NV ADR for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
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 $0.9230 – $3.16 · fair‑value band $1.32 – $4.92 · the $1.29 price screens below the $2.62 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Follow Proximus NV ADR in your weekly email
Every Wednesday you see whether Proximus NV ADR is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Proximus PLC provides connectivity, IT, and digital services and communication services in Belgium and internationally. The company offers telecom products and services; mobile and internet-at-home fixed and mobile telephony, internet, and television services to residential customers and small businesses.
Show more
Proximus PLC provides connectivity, IT, and digital services and communication services in Belgium and internationally. The company offers telecom products and services; mobile and internet-at-home fixed and mobile telephony, internet, and television services to residential customers and small businesses. It also provides live TV, streaming, and on-demand video services; video consultation services for patients and healthcare professionals; artificial intelligence (AI), mixed reality, and cloudification; ICT infrastructure, cloud, fintech solutions, cybersecurity, enterprise applications, managed services, and telecom services; networking, cloud, cybersecurity, and data and AI services; and cybersecurity and intelligence solutions to protect enterprises against cyberattacks. In addition, the company designs, builds, and manages data-driven cloud solutions; offers Infrastructure as a Service, cybersecurity, and digital workplace solutions; and wholesale connectivity, interoperability, fraud prevention, managed services, and global IoT connectivity solutions. Further, it provides digital identity services, international delivery authentication, and programmable communication solutions; Communications Platform as a Service solutions; messaging apps, email, and voice solutions, and chatbots and AI-driven interaction; consultancy, implementation, and managed services; and content creation, editing, broadcasting, and live production. It offers its products and services under Proximus, Scarlet, Mobile Vikings, Proximus+, Proximus NXT, Pickx, Doktr, Proximus NXT IT, Codit, ClearMedia, Davinsi Labs, Proximus Global, Telesign, Route Mobile, Proximus Ada, Clarence, Fiberklaar, Unifiber, GoFiber, MWingz, Proximus Real Estate, Proximus Media House, and Tango brands. The company was formerly known as Belgacom SA and changed its name to Proximus PLC in June 2015. The company was founded in 1930 and is headquartered in Brussels, Belgium.
Stock analysis
Proximus NV ADR (BGAOY) currently trades at $1.29, while our model-based Fair Value estimate is $2.62, implying the stock looks roughly 50.8% undervalued today.
Show more
Valuation
Bull case: the Multiples group reads highest at a median of $4.53 per share, and 20 of the 24 models we run sit above the $1.29 price.
Bear case: the Dividend Discount group reads lowest at $1.00, and 4 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $1.32 (bear) to $4.92 (bull), the price of $1.29 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 44/100 (below-average quality), in the Communication Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Proximus NV ADR reported revenue of €6.2B in FY2025 versus €5.5B in FY2021, a compound +3.1%/yr. Reported net income was €382M in FY2025, compounding −3.6%/yr from FY2021.
Key figures
Market cap $2.3B · P/E ratio 4.6 · P/S ratio 0.28 · EPS (TTM) $0.2800 · Dividend yield 9.3% · Net margin 6.1% · Return on equity 8.3% · Return on assets (EBIT) 5.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 36% fair-value upside, at 103%, BGAOY screens cheaper than that median.
Fair Value models
Bear $1.32Fair Value $2.62Bull $4.92
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.2117 per share) are deliberately not added.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.47/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−2.0%
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.
+2.2%
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.
+2.8%
Start year 2020 (pandemic). Over 10 years: +0.5% a year
Revenue growth 24 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.
+0.6%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+6.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.9%
Dividend (yield on the price)9.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−2.9% vs −3.1%, steady
Profit margin 2020 to 2025 ⓘ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.15% → 10%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +5.1% a year for the price and −1.9% for the forecasts.
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Telecom Services · 230 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score44 · Bottom 25%
Fair Value upside+54.8% · Top 25%
Profitability
Return on equity (TTM)8.3% · Below median
Return on assets2.7% · Below median
Net margin (TTM)6.3% · Below median
Operating margin (TTM)12.7% · Above median
Growth and dividend
Revenue growth−7.1% · Bottom 25%
Dividend yield (TTM)9.3% · Top 25%
Balance sheet
Debt / equity1.11× · Highest 25%
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/E (TTM)4.6× · Cheapest 25%
P/B0.55× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
As of Sep 24, 2026, our model estimates a fair value of $2.62 versus a price of $1.29, about +103% upside (undervalued).
What is the fair value of BGAOY?
Our model-based fair value for Proximus NV ADR is $2.62 (as of Sep 24, 2026), built from audited fundamentals. The current price: $1.29.
What is the quality score of BGAOY?
Proximus NV ADR has a Quality Score of 44/100. 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 Proximus NV (BGAOY)?
Our model-based price target is the fair value of $2.62 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario $1.32, optimistic scenario $4.92. It is a calculation from audited fundamentals, not an analyst target.
What is the Proximus NV ADR stock forecast for 2026?
Our models put fair value at $2.62, about +103% upside versus a price of $1.29 (undervalued). Cautious scenario $1.32, optimistic scenario $4.92. The calculation is refreshed regularly with new filings.
What is the revenue of Proximus NV (BGAOY)?
Proximus NV ADR reported trailing-twelve-month revenue of about €6.1B (latest available figure, as of Sep 24, 2026).
Does Proximus NV ADR pay a dividend?
Proximus NV ADR currently shows a dividend yield of about 9.32% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Proximus NV (BGAOY)?
For today's price to be fair in a discounted-cash-flow model, Proximus NV ADR would have to grow free cash flow by +7.4 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of BGAOY use?
Our models discount Proximus NV ADR at 8.5 %: a base by market capitalisation (mid), damped by beta 0.42, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Proximus NV ADR that is +7.4 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has Proximus NV (BGAOY) delivered so far?
Over the past 5 years revenue at Proximus NV ADR grew +2.8 % a year. The price currently implies +7.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Proximus NV (BGAOY) growing?
The median revenue growth in the sector is +2.9 % a year. That is the yardstick for the growth priced into Proximus NV ADR (+7.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Proximus NV (BGAOY)?
The free-cash-flow yield on the price is 13.81 %: that much free cash flow Proximus NV ADR produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Proximus NV (BGAOY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Proximus NV ADR it is $2.62 per share (as of Sep 24, 2026), against a price of $1.29. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Proximus NV ADR stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BGAOY trades below its calculated fair value: price $1.29, fair value $2.62, a gap of about +103% (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 BGAOY?
No. The price is what the market pays today ($1.29); the fair value is what the company's own numbers justify ($2.62). For Proximus NV ADR the two are $1.33 per share apart. That gap is exactly why we show both numbers side by side.
How much is Proximus NV ADR worth?
The market values Proximus NV ADR at about $2.3B (market capitalisation, as of Sep 24, 2026). Per share that is $1.29; our models calculate a fair value of $2.62 per share.
What do the bullish and bearish scenarios say about BGAOY?
Our models span a range for Proximus NV ADR: cautious scenario $1.32, base $2.62, optimistic $4.92 per share (as of Sep 24, 2026, price $1.29). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BGAOY?
Proximus NV ADR trades at a price-to-earnings ratio of 4.6 (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 $2.62 is built from several models across several years. Other multiples: PEG 2.1, P/B 0.6, P/S 0.3, EV/EBITDA 4.3.
What is the PEG ratio of BGAOY?
The PEG ratio of Proximus NV ADR is 2.08 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Proximus NV (BGAOY)?
Balance-sheet figures for Proximus NV ADR (as of Sep 24, 2026): return on equity 8.3%, debt of 1.11 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is BGAOY from its 52-week high?
Proximus NV ADR trades at $1.29, about 32% below its 52-week high of $1.90 and 2% above the low of $1.27 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $2.62 is for.
Which stocks are comparable to Proximus NV ADR?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, 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 Proximus NV ADR stock attractive at the current price?
The data as of Sep 24, 2026: price $1.29, calculated fair value $2.62 (+103%), Quality Score 44/100, from 24 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 BGAOY calculated?
We run Proximus NV ADR through 24 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 $2.62, 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. Proximus NV ADR currently trades 51 % 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 Proximus NV (BGAOY)?
The closing price on Oct 2, 2026 was $1.29. Our model-based fair value is $2.62, about +103% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Proximus NV ADR right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($1.32). The market is more pessimistic than our downside scenario. The model range is unusually wide ($1.32 to $4.92). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Where does the earnings growth of Proximus NV (BGAOY) come from?
Earnings per share at Proximus NV ADR grew −3.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.5 %, EBIT margin −3.5 %, tax rate +0.8 %, residual (interest, one-offs) −1.4 %. 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 Proximus NV ADR
How large is the market capitalisation of Proximus NV (BGAOY)?
The market capitalisation of Proximus NV ADR is $2.3B. 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 Proximus NV (BGAOY)?
The price-to-sales ratio of Proximus NV ADR is 0.28 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Proximus NV (BGAOY)?
Earnings per share at Proximus NV ADR are $0.2800 (price ÷ EPS = P/E 4.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Proximus NV (BGAOY)?
The dividend yield of Proximus NV ADR is 9.3% (payout 42.9%). 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 Proximus NV (BGAOY)?
The net margin of Proximus NV ADR is 6.1% (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 Proximus NV (BGAOY)?
The return on equity (ROE) of Proximus NV ADR is 8.3% (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 Proximus NV (BGAOY)?
On an EBIT basis the return on assets of Proximus NV ADR is 5.7% (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 Proximus NV (BGAOY)?
The operating margin of Proximus NV ADR is 12.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Proximus NV (BGAOY)?
Revenue at Proximus NV ADR is growing −7.1% versus a year earlier (3y avg +2.2%). 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 Proximus NV (BGAOY)?
Earnings per share at Proximus NV ADR are growing −11.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Proximus NV (BGAOY) carry?
The net debt of Proximus NV ADR is €5.3B (fiscal year 2025, ≈ 20.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Proximus NV ADR in the live analysis
One click puts Proximus NV ADR on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Broad data
Sep 24, 2026