Ceres Power Holdings (CWR) Fair Value & Analysis
Industrials · GB · Market cap 786M GBX
Fair value as of: Jul 20, 2026
From 3 valuation models · updated 20 days ago
Fair value updated Jul 20, 2026, revised from £9.44 to £8.61 (−8.8%) since Jul 15, 2026. Share price −7.4% over the past month.
Below-average quality, screening 145% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (£5.29). The market is more pessimistic than our downside scenario.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- A fairly wide model range (£5.29 to £10.94) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.
How to read this chart
60‑month range £0.3995 – £10.53 · fair‑value band £5.29 – £10.94 · the £3.51 price screens below the £8.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.
Analysis
Ceres Power Holdings (CWR) currently trades at £3.51, while our model-based Fair Value estimate is £8.61, implying the stock looks roughly 145.2% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.
Over the trailing twelve months, Ceres Power Holdings generated revenue of £18.9M at a net margin of -38.5%. Revenue grew 23.6% year over year. It earns a return on equity of -6.8%. The balance sheet holds a net cash position of £33.4M. Fundamentals as of Jul 20, 2026
Our scenario range runs from £5.29 (bear case) to £10.94 (bull case); at £3.51, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 145%, CWR screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 3 models by family
Widest divergence: Dividend Discount (£10.21) versus Asset-Based (£0.3400). Highest evidence: Gordon GGM (70).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 48
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Ceres Power Holdings plc engages in the development and commercialization of fuel cell and electrochemical technology in Europe, Asia, and North America.
Full company description
Ceres Power Holdings plc engages in the development and commercialization of fuel cell and electrochemical technology in Europe, Asia, and North America. The company offers cell, stack, and factory; power system and power modules for data centers, commercial power, industrial power, and marine applications; and stack array module and electrolyser module for ammonia, refineries, green steel, and eFuels applications. It also provides a solid oxide electrolysis cell (SOEC) technology to produce green hydrogen; and a solid oxide fuel cell (SOFC) technology to generate electrical power from various fuel types, including natural gas, biofuels, hydrogen blends, and pure hydrogen. In addition, the company is involved in the provision of overseas license and royalty services; business development and technical support; development of flow battery technologies for energy storage systems; and administration of registered intellectual property. Ceres Power Holdings plc was incorporated in 2004 and is based in Horsham, the United Kingdom.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Ceres Power Holdings reported revenue of £32.6M in FY2025 versus £30.8M in FY2021, a compound +1.5%/yr. Reported net income was −£47.5M in FY2025.
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Peer Group
Electrical Equipment & Parts · 528 stocks
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.
Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Contemporary Amperex Technology Co 3750 | HK$675.50 | HK$391.44 | -42% |
| ABB Ltd ABBN | CHF 83.82 | CHF 35.46 | -58% |
| Delta Electronics (Thailand) Public Company TDED | 10.16 SGD | 1.47 SGD | -86% |
| LG Energy Solution, Ltd 373220 | 334,000 KRW | 201,455 KRW | -40% |
| WEG S.A WEGE3 | 13,210 ARS | 7,948 ARS | -40% |
| Sungrow Power Supply Co 300274 | ¥114.79 | ¥123.83 | +8% |
| Shenzhen Inovance Technology Co 300124 | ¥63.43 | ¥33.04 | -48% |
| HD Hyundai Electric Co 267260 | 823,000 KRW | 371,133 KRW | -55% |
| LS ELECTRIC Co 010120 | 190,000 KRW | 31,517 KRW | -83% |
| Sieyuan Electric Co 002028 | ¥151.73 | ¥71.69 | -53% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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