Eurohold Bulgaria AD (EHG) Fair Value & Analysis
Utilities · PL · Market cap 2.2B PLN
Fair value as of: Jul 18, 2026
From 11 valuation models · updated 24 days ago
Fair value updated Jul 18, 2026, revised from 2.62 PLN to 5.69 PLN (+117.2%) since Jun 26, 2026. Share price +6.2% over the past month.
A solid business, screening 18% undervalued on our models.
What matters now
- The model range is unusually wide (3.16 PLN to 9.18 PLN). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Our model range runs from 3.16 PLN (bear) to 9.18 PLN (bull), base 5.69 PLN. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 53/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range 1.90 PLN – 19.00 PLN · fair‑value band 3.16 PLN – 9.18 PLN · the 4.82 PLN price screens below the 5.69 PLN fair value. Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Eurohold Bulgaria AD (EHG) currently trades at 4.82 PLN, while our model-based Fair Value estimate is 5.69 PLN, implying the stock looks roughly 18.1% undervalued today. The Quality Score stands at 53/100 (solid quality), in the Utilities 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: high), always confirm before acting.
Over the trailing twelve months, Eurohold Bulgaria AD generated revenue of 1.7B PLN at a net margin of 3.0%. Revenue grew 11.3% year over year. It earns a return on equity of 28.5%. Net debt stands at 646M PLN. Fundamentals as of Jul 18, 2026
Our scenario range runs from 3.16 PLN (bear case) to 9.18 PLN (bull case); at 4.82 PLN, the current price sits within 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. The share trades near its 52-week high and 125% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -27% fair-value upside, at 18%, EHG 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 11 models by family
Widest divergence: Growth DCF (2.96 PLN) versus Asset-Based (0.2400 PLN). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 81
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
Eurohold Bulgaria AD engages in the energy business in Bulgaria, North Macedonia, Greece, Romania, Belarus, Georgia, Ukraine, Spain, Italy, Poland, Germany, the United Kingdom, and the Netherlands. It operates through Energy, Insurance, and Financial Services segments.
Full company description
Eurohold Bulgaria AD engages in the energy business in Bulgaria, North Macedonia, Greece, Romania, Belarus, Georgia, Ukraine, Spain, Italy, Poland, Germany, the United Kingdom, and the Netherlands. It operates through Energy, Insurance, and Financial Services segments. The company offers energy services comprising access to and transmission of electrical energy through the power distribution network; connection of new users to the power distribution network; public supply and trading in electrical energy for residential and business customers; information, communication, and technological services; commercial consulting, purchase, and sale of equipment and materials; and production and trading of energy from renewable sources. It also provides general, life, and travel insurance. In addition, the company offers investment intermediary; investment banking; and asset management services. Further, it is involved in car leasing and sale; and brokerage activities. The company was founded in 1995 and is headquartered in Sofia, Bulgaria. Eurohold Bulgaria AD is a subsidiary of Starcom Holding AD.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Eurohold Bulgaria AD reported revenue of 1.6B PLN in FY2025 versus 2.1B PLN in FY2021, a compound −6.5%/yr. Reported net income was 52.4M PLN in FY2025, compounding +2.8%/yr from FY2021.
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Peer Group
Utilities - Regulated Electric · 154 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 Utilities - Regulated Electric 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 Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| NextEra Energy, Inc NEE | $88.80 | $32.94 | -63% |
| The Southern Company SO | $95.61 | $61.06 | -36% |
| Duke Energy Corporation DUK | $126.11 | $97.11 | -23% |
| National Grid plc NGG | 61,175 ARS | 44,377 ARS | -27% |
| American Electric Power Company AEP | $132.50 | $79.33 | -40% |
| Dominion Energy, Inc D | $70.08 | $46.92 | -33% |
| NTPC Limited NTPC | ₹341.85 | ₹377.16 | +10% |
| CEZ, a. s. CEZ | 232.40 PLN | 159.33 PLN | -31% |
| Power Grid Corporation POWERGRID | ₹283.55 | ₹252.77 | -11% |
| China National Nuclear Power Co 601985 | ¥8.91 | ¥7.69 | -14% |
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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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