Watch Ceres Power Holdings PLC for free: we tell you when fair value or trend changes.

Ceres Power Holdings PLC (CWR) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Ceres Power Holdings PLC stock £1.64, price £2.64, that is 37.9% below the price, quality 41 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

EstimateBear £1.23 to bull £2.05 Growth analysisrevenue history, year by year Quality 41/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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Industrials GB · ISIN GB00BG5KQW09

Thin data Nov 10, 2026

Ceres Power Holdings PLC

CWR · LSE

Very expensive, weak quality

Our calculation puts a fair price 38% below what the stock costs today.

Quality 41/100

Mixed Growth (revenue 5y +11.6 %/yr in GBP)

Neutral coverage

Fair value £1.64 · Strongly overvalued

Loss-making · -130.6% net margin (TTM)

Negative free cash flow

Trails peers (0/9)

Narrow moat 12/100

Thin data

Estimate

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range £0.4794 – £12.64 · fair‑value band £1.23 – £2.05 · the £2.64 price screens above the £1.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Ceres Power Holdings plc engages in the development and commercialization of fuel cell and electrochemical technology in Europe, Asia, and North America.

Show moreShow less

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.

Stock analysis

Ceres Power Holdings PLC (CWR) currently trades at £2.64, while our estimate is £1.64, 38% below the price, so the stock looks overvalued today.

Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: £1.23 (bear) to £2.05 (bull), the price of £2.64 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.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Ceres Power Holdings PLC 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.

Key figures

Market cap £571M Small · P/S ratio 16.6 · EPS (TTM) £−0.2300 · Net margin −131% · Return on equity −27.5% · Return on assets (EBIT) −21.4% (5-year average) · Operating margin −60.1% · Revenue (TTM) £34.3M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (medium confidence).

What moves the price

The share trades about 69% below its 52-week high and 24% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −13% fair-value upside, at −38%, CWR screens richer than that median.

Fair Value

Bear £1.23 Fair Value £1.64 Bull £2.05

Price £2.64 · Downside -37.9%

Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 41/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 6

How much profit the company makes from its sales and capital

Quality Growth 4

Are margins and returns getting better?

Cashflow 0

Do the profits arrive as real cash?

Financial strength 96

Debt, balance sheet and risk of trouble

Investment 94

Does it invest with discipline instead of growing at any price?

Low Volatility 0

How calm the share price moves, does not count

Price momentum 9

Price momentum of the last 3 to 12 months, does not count

Near the 52-week high 4

Distance to the 52-week high, does not count

New shares 70

Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 25/100

Revenue is growing, but margins or cash flow do not fully confirm the trend.

Revenue growth 1 year

−37.1%

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.

+18.2%

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.

+11.6%

Start year 2020 (pandemic)

Revenue growth 20 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.

+35.9%

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Profit margin (trend) ⓘ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.

−53.3% (2020) → −145.1% (2025)

What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss

not computed

CWR screens overvalued: fair value 38% below the price. Compare with Contemporary Amperex Technology Co →

Earlier news

News mood ⓘNews mood, the average tone of recent news (43 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. Neutral

Recent news coverage is roughly neutral, about typical for how stocks are covered.

Ceres Power H1 Earnings Call Highlights Yahoo Finance · Sep 23, 2026
Ceres Power shares fall after broker's double downgrade to 'sell' after storming run Yahoo Finance · Jun 5, 2026
Ceres Power Rally Nears 1,000% As Fuel Cell Optimism Builds Yahoo Finance · May 7, 2026
Ceres surges after Goldman Sachs ups target Yahoo Finance · Apr 29, 2026

Compare Ceres Power Holdings PLC 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.Electrical Equipment & Parts · 590 stocks

Beats the industry median on 0/8 measures

Overall it trails its industry peers.

Valuation

Quality Score 41 · Bottom 25%

Fair Value upside −37.9% · Below median

Profitability

Return on assets −32.6% · Bottom 25%

Net margin (12 months) −130.6% · Bottom 25%

Operating margin (12 months) −60.1% · Bottom 25%

Growth and dividend

Revenue growth (quarter YoY) 7.9% · Below median

Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper

P/B 5.31× · Priciest 25%

P/S (12 months) 16.65× · Priciest 25%

Strength profile in five axes (Snowflake)

This stock

Sector peers

VALUE (fair-value potential)0 · sector 0

FUTURE (revenue growth)40 · sector 66

PAST (return on equity)0 · sector 25

HEALTH (low debt)0 · sector 97

DIVIDEND (yield)0 · sector 23

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate.

Stock	Price	Fair Value	vs Fair Value	Compare
Contemporary Amperex Technology Co 300750	¥249.95	¥648.35	+159%	vs CWR
Sungrow Power Supply Co 300274	¥79.60	¥182.32	+129%	vs CWR
NARI Technology Co 600406	¥23.40	¥29.39	+26%	vs CWR
Vertiv Holdings VRT	$194.22	$178.64	−8%	vs CWR
Samsung SDI Co 006400	456,000 KRW	395,019 KRW	−13%	vs CWR
Legrand SA LR	€135.60	€82.49	−39%	vs CWR
Prysmian S.p.A PRY	€107.20	€64.29	−40%	vs CWR
ABB Ltd ABBN	CHF 68.98	CHF 29.62	−57%	vs CWR
Delta Electronics (Thailand) Public Company DELTA	193.00 THB	39.14 THB	−80%	vs CWR
LG Energy Solution, Ltd 373220	330,500 KRW	53,325 KRW	−84%	vs CWR

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Ceres Power Holdings PLC: fair value per Fair Value Calculator

<a href="https://www.fairvalue-calculator.com/stock/CWR?utm_source=embed&amp;utm_medium=badge" target="_blank" rel="nofollow noopener"><img src="https://www.fairvalue-calculator.com/embed/CWR.LSE.svg" width="360" height="84" alt="Ceres Power Holdings PLC: fair value per Fair Value Calculator" style="border:0;max-width:100%" loading="lazy"></a>

Cite: Fair Value Calculator (2026). "Ceres Power Holdings PLC Fair Value". https://www.fairvalue-calculator.com/stock/CWR

Frequently asked questions

Is Ceres Power Holdings PLC (CWR) overvalued or undervalued?

As of Nov 10, 2026, our estimate of fair value is £1.64 versus a price of £2.64, about 38% lower (overvalued).

What is the fair value of CWR?

Our estimate for Ceres Power Holdings PLC is £1.64 (as of Nov 10, 2026), built from audited fundamentals. The current price: £2.64.

What is the quality score of CWR?

Ceres Power Holdings PLC 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 Ceres Power Holdings PLC (CWR)?

Our calculated price target is the estimate of £1.64 (as of Nov 10, 2026). Cautious scenario £1.23, optimistic scenario £2.05. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.

What is the Ceres Power Holdings PLC stock forecast for 2026?

Our estimate puts fair value at £1.64, about 38% lower versus a price of £2.64 (overvalued). Cautious scenario £1.23, optimistic scenario £2.05. The calculation is refreshed regularly with new filings.

What is the revenue of Ceres Power Holdings PLC (CWR)?

Ceres Power Holdings PLC reported trailing-twelve-month revenue of about £34.3M (latest available figure, as of Nov 10, 2026).

What is the intrinsic value of Ceres Power Holdings PLC (CWR)?

Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ceres Power Holdings PLC it is £1.64 per share (as of Nov 10, 2026), against a price of £2.64.

Is Ceres Power Holdings PLC stock overvalued or undervalued in 2026?

As of Nov 10, 2026, CWR trades above its calculated fair value: price £2.64, fair value £1.64, a gap of about −38% (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 CWR?

No. The price is what the market pays today (£2.64); the fair value is what the company's own numbers justify (£1.64). For Ceres Power Holdings PLC the two are £1.00 per share apart. That gap is exactly why we show both numbers side by side.

How much is Ceres Power Holdings PLC worth?

The market values Ceres Power Holdings PLC at about £571M (market capitalisation, as of Nov 10, 2026). Per share that is £2.64; our models calculate a fair value of £1.64 per share.

What do the bullish and bearish scenarios say about CWR?

Our models span a range for Ceres Power Holdings PLC: cautious scenario £1.23, base £1.64, optimistic £2.05 per share (as of Nov 10, 2026, price £2.64). The range comes from different growth and margin assumptions, not from analyst opinions.

How solid is the balance sheet of Ceres Power Holdings PLC (CWR)?

Balance-sheet figures for Ceres Power Holdings PLC (as of Nov 10, 2026): return on equity −27.5%. They feed the Quality Score of 41/100, which measures business quality independently of the share price.

How far is CWR from its 52-week high?

Ceres Power Holdings PLC trades at £2.64, about 69% below its 52-week high of £8.45 and 24% above the low of £2.13 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of £1.64 is for.

Which stocks are comparable to Ceres Power Holdings PLC?

From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Delta Electronics (Thailand) Public Company, 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 Ceres Power Holdings PLC stock attractive at the current price?

The data as of Nov 10, 2026: price £2.64, calculated fair value £1.64 (−38%), Quality Score 41/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.

Is it still worth investing in stocks now?

The global stock market currently sits 15.1% above its aggregate fair value. Ceres Power Holdings PLC 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 Ceres Power Holdings PLC (CWR)?

The closing price on Nov 10, 2026 was £2.64. Our estimate is £1.64, about 38% lower (overvalued). We carry closing prices from our data provider, not a live tick.

What should I pay attention to with Ceres Power Holdings PLC right now?

The price sits above even our optimistic bull case (£2.05). 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. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Ceres Power Holdings PLC

How large is the market capitalisation of Ceres Power Holdings PLC (CWR)?

The market capitalisation of Ceres Power Holdings PLC is £571M. 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 Ceres Power Holdings PLC (CWR)?

The price-to-sales ratio of Ceres Power Holdings PLC is 16.6 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.

What are the earnings per share of Ceres Power Holdings PLC (CWR)?

Earnings per share at Ceres Power Holdings PLC are £−0.2300. Earnings per share over the last twelve months: total profit spread across every single share.

What is the net margin of Ceres Power Holdings PLC (CWR)?

The net margin of Ceres Power Holdings PLC is −131% (last twelve months). 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 Ceres Power Holdings PLC (CWR)?

The return on equity (ROE) of Ceres Power Holdings PLC is −27.5% (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 Ceres Power Holdings PLC (CWR)?

On an EBIT basis the return on assets of Ceres Power Holdings PLC is −21.4% (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 Ceres Power Holdings PLC (CWR)?

The operating margin of Ceres Power Holdings PLC is −60.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.

How fast is revenue growing at Ceres Power Holdings PLC (CWR)?

Revenue at Ceres Power Holdings PLC is growing +7.9% versus a year earlier (3y avg +18.2%). 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 Ceres Power Holdings PLC (CWR) generate?

The free cash flow of Ceres Power Holdings PLC is −£18.2M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.

How much net cash does Ceres Power Holdings PLC (CWR) hold?

Ceres Power Holdings PLC holds more cash than debt, £33.4M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.

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