Cemacon Zalau (CEON) fair value: what the stock is really worth
As of May 22, 2026: fair value of Cemacon Zalau RON 0.36, price RON 0.44, upside -17.2%, quality 30 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 0.3640 RON – 0.8680 RON · fair‑value band 0.2500 RON – 0.4700 RON · the 0.4350 RON price screens above the 0.3600 RON 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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SC Cemacon SA, together with its subsidiaries, manufactures and sells fired clay bricks, tiles and other construction products. The company was founded in 1969 and is headquartered in Cluj-Napoca, Romania. SC Cemacon SA is a subsidiary of Dedeman S.R.L.
Stock analysis
Cemacon Zalau (CEON) currently trades at 0.4350 RON, while our model-based Fair Value estimate is 0.3600 RON, 17.2% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 0.4300 RON per share, and 2 of the 11 models we run sit above the 0.4350 RON price.
Bear case: the Earnings-Based group reads lowest at 0.2000 RON, and 9 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.2500 RON (bear) to 0.4700 RON (bull), the price of 0.4350 RON 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 30/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Cemacon Zalau reported revenue of 185M RON in FY2023 versus 125M RON in FY2020, a compound +14.0%/yr. Reported net income was 26.2M RON in FY2023, compounding +5.1%/yr from FY2020.
Key figures
Market cap 407M RON (≈ $85.8M) · P/E ratio 43.5 · P/S ratio 6.14 · EPS (TTM) 0.0100 RON · Net margin 14.1% · Return on equity 2.5% · Return on assets (EBIT) 12.1% · Operating margin −10.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −46% fair-value upside, at −17%, CEON screens cheaper than that median.
Fair Value models
Bear 0.2500 RONFair Value 0.3600 RONBull 0.4700 RON
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.38/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−16.3%
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.
+14.0%
’20
’21
’22
’23
What shareholders gained per year (last 3 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 3 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.
−14.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−14.8%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2023 ⓘ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.24% → 15%
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.Building Materials · 249 stocks
Beats the industry median on 2/12 measures
Overall it trails its industry peers.
Valuation
Quality Score30 · Bottom 25%
Fair Value upside−17.2% · Below median
Profitability
Return on equity (TTM)2.5% · Below median
Return on assets0.2% · Bottom 25%
Net margin (TTM)5.0% · Above median
Operating margin (TTM)−10.0% · Bottom 25%
Growth and dividend
Revenue growth−14.8% · Bottom 25%
Balance sheet
Debt / equity0.17× · Above median
Valuation Multiplesvs Building Materials median · lower = cheaper
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). "Cemacon Zalau Fair Value". https://www.fairvalue-calculator.com/stock/CEON
Frequently asked questions
Is Cemacon Zalau (CEON) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.3600 RON versus the last price from May 22, 2026 of 0.4350 RON, about −17% upside (overvalued).
What is the fair value of CEON?
Our model-based fair value for Cemacon Zalau is 0.3600 RON (as of Sep 24, 2026), built from audited fundamentals. Last price (from May 22, 2026): 0.4350 RON.
What is the quality score of CEON?
Cemacon Zalau has a Quality Score of 30/100. 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 Cemacon Zalau (CEON)?
Our model-based price target is the fair value of 0.3600 RON (as of Sep 24, 2026) from 11 valuation models. Cautious scenario 0.2500 RON, optimistic scenario 0.4700 RON. It is a calculation from audited fundamentals, not an analyst target.
What is the Cemacon Zalau stock forecast for 2026?
Our models put fair value at 0.3600 RON, about −17% upside versus the last price from May 22, 2026 of 0.4350 RON (overvalued). Cautious scenario 0.2500 RON, optimistic scenario 0.4700 RON. The calculation is refreshed regularly with new filings.
What is the revenue of Cemacon Zalau (CEON)?
Cemacon Zalau reported trailing-twelve-month revenue of about 194M RON (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Cemacon Zalau (CEON)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cemacon Zalau it is 0.3600 RON per share (as of Sep 24, 2026), against a price of 0.4350 RON. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Cemacon Zalau stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CEON trades above its calculated fair value: price 0.4350 RON, fair value 0.3600 RON, a gap of about −17% (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 CEON?
No. The price is what the market pays today (0.4350 RON); the fair value is what the company's own numbers justify (0.3600 RON). For Cemacon Zalau the two are 0.0750 RON per share apart. That gap is exactly why we show both numbers side by side.
How much is Cemacon Zalau worth?
The market values Cemacon Zalau at about 407M RON (market capitalisation, as of Sep 24, 2026). Per share that is 0.4350 RON; our models calculate a fair value of 0.3600 RON per share.
What do the bullish and bearish scenarios say about CEON?
Our models span a range for Cemacon Zalau: cautious scenario 0.2500 RON, base 0.3600 RON, optimistic 0.4700 RON per share (as of Sep 24, 2026, price 0.4350 RON). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CEON?
Cemacon Zalau trades at a price-to-earnings ratio of 43.5 (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 0.3600 RON is built from several models across several years. Other multiples: P/B 1.0, P/S 2.1, EV/EBITDA 13.6.
How solid is the balance sheet of Cemacon Zalau (CEON)?
Balance-sheet figures for Cemacon Zalau (as of Sep 24, 2026): return on equity 2.5%, debt of 0.17 per unit of equity. They feed the Quality Score of 30/100, which measures business quality independently of the share price.
How far is CEON from its 52-week high?
Cemacon Zalau trades at 0.4350 RON, at its 52-week high of 0.4350 RON and at the low of 0.4350 RON (as of May 22, 2026). Distance from the high says nothing about value: that is what the fair value of 0.3600 RON is for.
Which stocks are comparable to Cemacon Zalau?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Martin Marietta Materials, Inc, UltraTech Cement Limited, 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 Cemacon Zalau stock attractive at the current price?
The data as of Sep 24, 2026: price 0.4350 RON, calculated fair value 0.3600 RON (−17%), Quality Score 30/100, from 11 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 CEON calculated?
We run Cemacon Zalau through 11 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 0.3600 RON, 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. Cemacon Zalau 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 Cemacon Zalau (CEON)?
The latest price we hold is from May 22, 2026 and stands at 0.4350 RON. Our model-based fair value is 0.3600 RON, about −17% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cemacon Zalau right now?
Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (0.2500 RON to 0.4700 RON) 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 Cemacon Zalau
How large is the market capitalisation of Cemacon Zalau (CEON)?
The market capitalisation of Cemacon Zalau is 407M RON (≈ $85.8M). 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 Cemacon Zalau (CEON)?
The price-to-sales ratio of Cemacon Zalau is 6.14 (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 Cemacon Zalau (CEON)?
Earnings per share at Cemacon Zalau are 0.0100 RON (price ÷ EPS = P/E 43.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cemacon Zalau (CEON)?
The net margin of Cemacon Zalau is 14.1% (fiscal year 2023). 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 Cemacon Zalau (CEON)?
The return on equity (ROE) of Cemacon Zalau is 2.5% (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 Cemacon Zalau (CEON)?
On an EBIT basis the return on assets of Cemacon Zalau is 12.1% (avg 4y). 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 Cemacon Zalau (CEON)?
The operating margin of Cemacon Zalau is −10.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cemacon Zalau (CEON)?
Revenue at Cemacon Zalau is growing −14.8% versus a year earlier (3y avg +14.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Cemacon Zalau (CEON) generate?
The free cash flow of Cemacon Zalau is −17.0M RON (fiscal year 2023). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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