Compagnie d Entreprises CFE SA (CFEB) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Compagnie d Entreprises CFE SA €28.60, price €10.50, upside +172.4%, quality 58 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 €5.32 – €115.79 · fair‑value band €21.45 – €35.75 · the €10.50 price screens below the €28.60 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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Compagnie d'Entreprises CFE SA engages in the real estate development, multitechnics, construction and renovation, and sustainable investment businesses in Belgium, Poland, Luxembourg, and internationally. The Real Estate Development segment develops real estate projects.
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Compagnie d'Entreprises CFE SA engages in the real estate development, multitechnics, construction and renovation, and sustainable investment businesses in Belgium, Poland, Luxembourg, and internationally. The Real Estate Development segment develops real estate projects. Its Multitechnics segment provides commercial electricity, heating, ventilation, and air conditioning services; building management; energy and mobility infrastructure; and industrial automation services that offers robotization, automation, and production operations management. This segment also provides rail engineering works, which includes track and catenary installation, and signalling; and energy transport and public lighting services. The Construction & Renovation segment builds and refurbishes office buildings, residential properties, hotels, schools, universities, parking lots, industrial buildings, and others. Its Sustainable Investments segment develops greenfield projects for developing ports and related industrial zones, as well as batteryfarms; and develops and operates offshore wind farms. Compagnie d'Entreprises CFE SA was incorporated in 1880 and is headquartered in Brussels, Belgium. Compagnie d'Entreprises CFE SA operates as a subsidiary of Ackermans & van Haaren SA.
Stock analysis
Compagnie d Entreprises CFE SA (CFEB) currently trades at €10.50, while our model-based Fair Value estimate is €28.60, implying the stock looks roughly 63.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €39.57 per share, and 21 of the 24 models we run sit above the €10.50 price.
Bear case: the Dividend Discount group reads lowest at €3.37, and 3 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: €21.45 (bear) to €35.75 (bull), the price of €10.50 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 58/100 (solid quality), in the Industrials sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Compagnie d Entreprises CFE SA reported revenue of €1.0B in FY2025 versus €1.1B in FY2021, a compound −1.9%/yr. Reported net income was €33.5M in FY2025, compounding −31.2%/yr from FY2021.
Key figures
Market cap €298M · P/E ratio 7.7 · P/S ratio 0.25 · EPS (TTM) €1.36 · Dividend yield 4.8% · Net margin 3.2% · Return on equity 13.1% · Return on assets (EBIT) 3.1%.
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 24% below its 52-week high and 26% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 172%, CFEB screens cheaper than that median.
Fair Value models
Bear €21.45Fair Value €28.60Bull €35.75
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 (€0.6315 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.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
+1.7%
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.
−20.1%
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.
−12.9%
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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. Basis: EBIT basis.
−1.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.4%
Dividend (yield on the price)4.8%
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.−24% vs −15%, slowing
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.4% → 4%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 10.1%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−35.3%
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.
+4.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −36.7% a year for the price and +2.0% for the forecasts.
Compare Compagnie d Entreprises CFE SA with another stock
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.Engineering & Construction · 839 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+174% · Top 25%
Profitability
Return on equity (TTM)13% · Above median
Return on assets1% · Below median
Net margin (TTM)3% · Below median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth−15% · Below median
Dividend yield (TTM)4.8% · Top 25%
Balance sheet
Debt / equity0.38× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Compagnie d Entreprises CFE SA Fair Value". https://www.fairvalue-calculator.com/stock/CFEB
Frequently asked questions
Is Compagnie d Entreprises CFE SA (CFEB) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €28.60 versus a price of €10.50, about +172% upside (undervalued).
What is the fair value of CFEB?
Our model-based fair value for Compagnie d Entreprises CFE SA is €28.60 (as of Sep 24, 2026), built from audited fundamentals. The current price: €10.50.
What is the quality score of CFEB?
Compagnie d Entreprises CFE SA has a Quality Score of 58/100. 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 Compagnie d Entreprises CFE SA (CFEB)?
Our model-based price target is the fair value of €28.60 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario €21.45, optimistic scenario €35.75. It is a calculation from audited fundamentals, not an analyst target.
What is the Compagnie d Entreprises CFE SA stock forecast for 2026?
Our models put fair value at €28.60, about +172% upside versus a price of €10.50 (undervalued). Cautious scenario €21.45, optimistic scenario €35.75. The calculation is refreshed regularly with new filings.
What is the revenue of Compagnie d Entreprises CFE SA (CFEB)?
Compagnie d Entreprises CFE SA reported trailing-twelve-month revenue of about €1.0B (latest available figure, as of Sep 24, 2026).
Does Compagnie d Entreprises CFE SA pay a dividend?
Compagnie d Entreprises CFE SA currently shows a dividend yield of about 4.76% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Compagnie d Entreprises CFE SA (CFEB)?
For today's price to be fair in a discounted-cash-flow model, Compagnie d Entreprises CFE SA would have to grow free cash flow by -35.3 % per year for five years (discount rate 13.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of CFEB use?
Our models discount Compagnie d Entreprises CFE SA at 13.1 %: a base by market capitalisation (small), damped by beta 1.45, country premium for Belgium. 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 Compagnie d Entreprises CFE SA that is -35.3 % per year a year over ten years, using the same discount rate (13.1 %) and the same formula as our fair value.
How much growth has Compagnie d Entreprises CFE SA (CFEB) delivered so far?
Over the past 5 years revenue at Compagnie d Entreprises CFE SA grew +0.3 % a year. The price currently implies -35.3 % 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 Compagnie d Entreprises CFE SA (CFEB) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Compagnie d Entreprises CFE SA (-35.3 % 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 Compagnie d Entreprises CFE SA (CFEB)?
The free-cash-flow yield on the price is 41.21 %: that much free cash flow Compagnie d Entreprises CFE SA produces per unit of market value. When it exceeds the discount rate of our models (13.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Compagnie d Entreprises CFE SA (CFEB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Compagnie d Entreprises CFE SA it is €28.60 per share (as of Sep 24, 2026), against a price of €10.50. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Compagnie d Entreprises CFE SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CFEB trades below its calculated fair value: price €10.50, fair value €28.60, a gap of about +172% (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 CFEB?
No. The price is what the market pays today (€10.50); the fair value is what the company's own numbers justify (€28.60). For Compagnie d Entreprises CFE SA the two are €18.10 per share apart. That gap is exactly why we show both numbers side by side.
How much is Compagnie d Entreprises CFE SA worth?
The market values Compagnie d Entreprises CFE SA at about €298M (market capitalisation, as of Sep 24, 2026). Per share that is €10.50; our models calculate a fair value of €28.60 per share.
What do the bullish and bearish scenarios say about CFEB?
Our models span a range for Compagnie d Entreprises CFE SA: cautious scenario €21.45, base €28.60, optimistic €35.75 per share (as of Sep 24, 2026, price €10.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CFEB?
Compagnie d Entreprises CFE SA trades at a price-to-earnings ratio of 7.7 (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 €28.60 is built from several models across several years. Other multiples: PEG 1.3, P/B 1.3, P/S 0.3, EV/EBITDA 7.8.
What is the PEG ratio of CFEB?
The PEG ratio of Compagnie d Entreprises CFE SA is 1.33 (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 Compagnie d Entreprises CFE SA (CFEB)?
Balance-sheet figures for Compagnie d Entreprises CFE SA (as of Sep 24, 2026): return on equity 13.1%, debt of 0.38 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is CFEB from its 52-week high?
Compagnie d Entreprises CFE SA trades at €10.50, about 24% below its 52-week high of €13.90 and 26% above the low of €8.30 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €28.60 is for.
Which stocks are comparable to Compagnie d Entreprises CFE SA?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro 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 Compagnie d Entreprises CFE SA stock attractive at the current price?
The data as of Sep 24, 2026: price €10.50, calculated fair value €28.60 (+172%), Quality Score 58/100, 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 CFEB calculated?
We run Compagnie d Entreprises CFE SA 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 €28.60, 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 13.0 % above its aggregate fair value. Compagnie d Entreprises CFE SA currently trades 172 % 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 Compagnie d Entreprises CFE SA (CFEB)?
The closing price on Sep 24, 2026 was €10.50. Our model-based fair value is €28.60, about +172% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Compagnie d Entreprises CFE SA right now?
The price is below even our cautious bear case (€21.45). The market is more pessimistic than our downside scenario. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Compagnie d Entreprises CFE SA (CFEB) come from?
Earnings per share at Compagnie d Entreprises CFE SA grew −18.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share −10.4 %, EBIT margin −8.6 %, tax rate −0.7 %, residual (interest, one-offs) +0.5 %. 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 Compagnie d Entreprises CFE SA
How large is the market capitalisation of Compagnie d Entreprises CFE SA (CFEB)?
The market capitalisation of Compagnie d Entreprises CFE SA is €298M. 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 Compagnie d Entreprises CFE SA (CFEB)?
The price-to-sales ratio of Compagnie d Entreprises CFE SA is 0.25 (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 Compagnie d Entreprises CFE SA (CFEB)?
Earnings per share at Compagnie d Entreprises CFE SA are €1.36 (price ÷ EPS = P/E 7.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Compagnie d Entreprises CFE SA (CFEB)?
The dividend yield of Compagnie d Entreprises CFE SA is 4.8% (payout 36.8%). 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 Compagnie d Entreprises CFE SA (CFEB)?
The net margin of Compagnie d Entreprises CFE SA is 3.2% (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 Compagnie d Entreprises CFE SA (CFEB)?
The return on equity (ROE) of Compagnie d Entreprises CFE SA is 13.1% (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 Compagnie d Entreprises CFE SA (CFEB)?
On an EBIT basis the return on assets of Compagnie d Entreprises CFE SA is 3.1% (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 Compagnie d Entreprises CFE SA (CFEB)?
The operating margin of Compagnie d Entreprises CFE SA is 2.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Compagnie d Entreprises CFE SA (CFEB)?
Revenue at Compagnie d Entreprises CFE SA is growing −14.7% versus a year earlier (3y avg −3.7%). 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 Compagnie d Entreprises CFE SA (CFEB)?
Earnings per share at Compagnie d Entreprises CFE SA are growing +32.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Compagnie d Entreprises CFE SA (CFEB) hold?
Compagnie d Entreprises CFE SA holds more cash than debt, €43.8M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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