Cenergy Holdings SA (CENER) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Cenergy Holdings SA €14.97, price €22.94, upside -34.7%, quality 41 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 €2.28 – €27.52 · fair‑value band €10.99 – €18.95 · the €22.94 price screens above the €14.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Cenergy Holdings SA manufactures and sells aluminium, copper, cables, steel and steel pipes, and other related products in Belgium, Greece, Germany, Romania, Other European Union countries, Other European countries, the United States, Asia, Africa, and internationally. It operates through two segments: Cables and Steel Pipes.
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Cenergy Holdings SA manufactures and sells aluminium, copper, cables, steel and steel pipes, and other related products in Belgium, Greece, Germany, Romania, Other European Union countries, Other European countries, the United States, Asia, Africa, and internationally. It operates through two segments: Cables and Steel Pipes. The company offers submarine and land power, power distribution, high-voltage direct current, wind farm, submarine cables for offshore wind farms, industrial, network, telecommunication, data transmission, railway signalling, gauging and control, umbilicals, and optical fiber cables, as well as low, medium, high, and extra high voltage power cables; and fiber to the home cables. It also provides turnkey solutions, such as installation, repair and replacement, original equipment manufacturer, custom-adapted application, supervision, technical support, transport and storage, customer instruction and training, and spare parts for the maintenance of installed energy and telecommunications systems. In addition, the company offers onshore and offshore pipelines for transportation of oil, gas, and hydrogen, as well as carbon capture and storage applications and casing pipes; and hollow structural section products which are primarily used in the construction, power and telecom cables, wires, and raw materials. Further, it serves power grids, interconnections, offshore and onshore wind, solar energy, telecommunications and data transmission cables, oil and gas, and heavy industries. Cenergy Holdings SA was founded in 1949 and is based in Brussels, Belgium. Cenergy Holdings SA operates as a subsidiary of Viohalco S.A.
Stock analysis
Cenergy Holdings SA (CENER) currently trades at €22.94, while our model-based Fair Value estimate is €14.97, implying the stock looks roughly 53.2% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of €17.62 per share, and 1 of the 16 models we run sit above the €22.94 price.
Bear case: the Dividend Discount group reads lowest at €2.12, and 15 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: €10.99 (bear) to €18.95 (bull), the price of €22.94 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 41/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Cenergy Holdings SA reported revenue of €2.1B in FY2025 versus €1.1B in FY2021, a compound +18.2%/yr. Reported net income was €194M in FY2025, compounding +72.1%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap €4.9B · P/E ratio 25.2 · P/S ratio 2.37 · EPS (TTM) €0.9100 · Dividend yield 1.1% · Net margin 9.4% · Return on equity 24.3% · Return on assets (EBIT) 8.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 92% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −36% fair-value upside, at −35%, CENER screens cheaper than that median.
Fair Value models
Bear €10.99Fair Value €14.97Bull €18.95
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 (€0.4755 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.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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+14.7%
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.
+13.1%
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.
+17.8%
Start year 2020 (pandemic). Over 10 years: +10.3% a year
Revenue growth 12 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.
+16.1%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+53.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+52.8%
Dividend (yield on the price)1.1%
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.51% vs 37%, picking up
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.7% → 14%
2025 sits 138% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
News mood ⓘNews mood, the average tone of recent news (14 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
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.Electrical Equipment & Parts · 550 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score41 · Bottom 25%
Fair Value upside−35% · Above median
Profitability
Return on equity (TTM)24% · Top 25%
Return on assets8% · Top 25%
Net margin (TTM)9% · Above median
Operating margin (TTM)13% · Top 25%
Growth and dividend
Revenue growth−4% · Bottom 25%
Dividend yield (TTM)1.1% · Above median
Balance sheet
Debt / equity0.22× · Above median
Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper
P/E (TTM)25.2× · Cheaper than median
P/B6.34× · Priciest 25%
P/S (TTM)2.72× · Pricier than median
EV/EBITDA16.0× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 58
PAST (return on equity)97· sector 26
HEALTH (low debt)89· sector 97
DIVIDEND (yield)23· sector 22
VALUE 0: the price sits above our fair-value range.
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.
Cite: Fair Value Calculator (2026). "Cenergy Holdings SA Fair Value". https://www.fairvalue-calculator.com/stock/CENER
Frequently asked questions
Is Cenergy Holdings SA (CENER) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €14.97 versus a price of €22.94, about −35% upside (overvalued).
What is the fair value of CENER?
Our model-based fair value for Cenergy Holdings SA is €14.97 (as of Sep 24, 2026), built from audited fundamentals. The current price: €22.94.
What is the quality score of CENER?
Cenergy Holdings SA has a Quality Score of 41/100. 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 Cenergy Holdings SA (CENER)?
Our model-based price target is the fair value of €14.97 (as of Sep 24, 2026) from 16 valuation models. Cautious scenario €10.99, optimistic scenario €18.95. It is a calculation from audited fundamentals, not an analyst target.
What is the Cenergy Holdings SA stock forecast for 2026?
Our models put fair value at €14.97, about −35% upside versus a price of €22.94 (overvalued). Cautious scenario €10.99, optimistic scenario €18.95. The calculation is refreshed regularly with new filings.
What is the revenue of Cenergy Holdings SA (CENER)?
Cenergy Holdings SA reported trailing-twelve-month revenue of about €2.1B (latest available figure, as of Sep 24, 2026).
Does Cenergy Holdings SA pay a dividend?
Cenergy Holdings SA currently shows a dividend yield of about 1.13% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Cenergy Holdings SA (CENER)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cenergy Holdings SA it is €14.97 per share (as of Sep 24, 2026), against a price of €22.94. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Cenergy Holdings SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CENER trades above its calculated fair value: price €22.94, fair value €14.97, a gap of about −35% (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 CENER?
No. The price is what the market pays today (€22.94); the fair value is what the company's own numbers justify (€14.97). For Cenergy Holdings SA the two are €7.97 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cenergy Holdings SA worth?
The market values Cenergy Holdings SA at about €4.9B (market capitalisation, as of Sep 24, 2026). Per share that is €22.94; our models calculate a fair value of €14.97 per share.
What do the bullish and bearish scenarios say about CENER?
Our models span a range for Cenergy Holdings SA: cautious scenario €10.99, base €14.97, optimistic €18.95 per share (as of Sep 24, 2026, price €22.94). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CENER?
Cenergy Holdings SA trades at a price-to-earnings ratio of 25.2 (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 €14.97 is built from several models across several years. Other multiples: P/B 6.3, P/S 2.7, EV/EBITDA 16.0.
How solid is the balance sheet of Cenergy Holdings SA (CENER)?
Balance-sheet figures for Cenergy Holdings SA (as of Sep 24, 2026): return on equity 24.3%, debt of 0.22 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is CENER from its 52-week high?
Cenergy Holdings SA trades at €22.94, about 17% below its 52-week high of €27.52 and 92% above the low of €11.92 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of €14.97 is for.
Which stocks are comparable to Cenergy Holdings SA?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Delta Electronics (Thailand) Public Company, Vertiv Holdings, 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 Cenergy Holdings SA stock attractive at the current price?
The data as of Sep 24, 2026: price €22.94, calculated fair value €14.97 (−35%), Quality Score 41/100, from 16 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 CENER calculated?
We run Cenergy Holdings SA through 16 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 €14.97, 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 14.1 % above its aggregate fair value. Cenergy Holdings SA 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 Cenergy Holdings SA (CENER)?
The closing price on Sep 23, 2026 was €22.94. Our model-based fair value is €14.97, about −35% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cenergy Holdings SA right now?
The price sits above even our optimistic bull case (€18.95). The favourable scenario is already priced in. Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
Key figures of Cenergy Holdings SA
How large is the market capitalisation of Cenergy Holdings SA (CENER)?
The market capitalisation of Cenergy Holdings SA is €4.9B. 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 Cenergy Holdings SA (CENER)?
The price-to-sales ratio of Cenergy Holdings SA is 2.37 (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 Cenergy Holdings SA (CENER)?
Earnings per share at Cenergy Holdings SA are €0.9100 (price ÷ EPS = P/E 25.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Cenergy Holdings SA (CENER)?
The dividend yield of Cenergy Holdings SA is 1.1% (payout 28.6%). 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 Cenergy Holdings SA (CENER)?
The net margin of Cenergy Holdings SA is 9.4% (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 Cenergy Holdings SA (CENER)?
The return on equity (ROE) of Cenergy Holdings SA is 24.3% (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 Cenergy Holdings SA (CENER)?
On an EBIT basis the return on assets of Cenergy Holdings SA is 8.3% (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 Cenergy Holdings SA (CENER)?
The operating margin of Cenergy Holdings SA is 13.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cenergy Holdings SA (CENER)?
Revenue at Cenergy Holdings SA is growing −4.1% versus a year earlier (3y avg +13.1%). 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 Cenergy Holdings SA (CENER)?
Earnings per share at Cenergy Holdings SA are growing +15.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Cenergy Holdings SA (CENER) generate?
The free cash flow of Cenergy Holdings SA is −€4.7M (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 Cenergy Holdings SA (CENER) carry?
The net debt of Cenergy Holdings SA is €204M (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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