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Energiekontor AG (EKT) Fair Value & Analysis

Utilities · DE · Market cap €497M

EA Energiekontor AG EKT · XETRA
Price€34.95
Fair Value€29.08
Upside-16.8%
Quality33/100
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Expensive Growth
Highly profitable · 24.4% net margin
Moderate debt · negative free cash flow
2.74% dividend yield
Ranks above peers (8/13)
Wide moat 70/100
Evidence: High Range €21.81 – €60.73 Share as image

Fair value as of: Jul 20, 2026

From 17 valuation models · updated 21 days ago

Share price −4.9% over the past month.

Below-average quality, and screening another 17% overvalued on our models.

What matters now

  • Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The model range is unusually wide (€21.81 to €60.73). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (5 years)

€92.59 €29.66 Fair Value €29.08 Jun 2021 Aug 2026

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 €29.66 – €92.59 · fair‑value band €21.81 – €60.73 · the €34.95 price screens above the €29.08 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

Energiekontor AG (EKT) currently trades at €34.95, while our model-based Fair Value estimate is €29.08, implying the stock looks roughly 16.8% overvalued today. The Quality Score stands at 33/100 (below-average quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Energiekontor AG generated revenue of €168M at a net margin of 24.4%. Revenue grew 89.7% year over year. It earns a return on equity of 19.8%. Net debt stands at €616M. Fundamentals as of Jul 20, 2026

Our scenario range runs from €21.81 (bear case) to €60.73 (bull case); at €34.95, 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 about 33% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -30% fair-value upside, at -17%, EKT 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income €16.81 €22.82 €73.27 76
ROIC Compounder €21.46 €32.61 €43.89 72
Gordon GGM €3.89 €7.01 €9.66 70
All 17 models by family
DCF Models
Owner Earnings €8.20 €26.55 €57.50 31
Earnings-Based
Graham-Dodd €20.02 €115.83 €161.14 54
Lynch FV €32.70 €46.72 €60.73 50
PEG = 1.0 €32.70 €46.72 €60.73 46
EPV €19.57 €24.05 €27.78 59
Dividend Discount
Gordon GGM €3.89 €7.01 €9.66 70
DDM Multi-Stage €3.89 €6.41 €7.49 61
Multiples
P/E Multiple €39.74 €52.99 €66.24 63
P/S Multiple €22.63 €30.18 €37.72 58
P/B Multiple €21.81 €29.08 €36.35 55
EV/EBIT €38.05 €55.16 €72.26 53
EV/EBITDA €32.11 €47.23 €62.36 54
EV/Revenue €7.85 €16.90 €25.96 43
Asset-Based
NCAV (Graham) €8.08 €10.82 €16.15 50
Economic Profit
Residual Income €16.81 €22.82 €73.27 76
ROIC Compounder €21.46 €32.61 €43.89 72
Growth Earnings
Growth-Adj P/E €45.05 €64.36 €83.67 68

Widest divergence: Growth Earnings (€64.36) versus Dividend Discount (€6.41). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) €168M
Revenue growth (YoY) +89.7%
Net margin 24.4%
Return on equity 19.8%
Free cash flow −€78.5M FY2025
P/E ratio 18.2
More key figures
Operating margin 25.8%
EPS (TTM) €2.48
Dividend yield 2.1%
EPS growth (YoY) +57.4%
Net debt €616M FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 33/100

Of which business quality 29 · Market factors (momentum, volatility) 32

Profitability 43
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 17
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

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

Energiekontor AG, a project developer, engages in the planning, construction, and operation of wind and solar parks in Germany, Portugal, Scotland, and the united States. It owns and operates 39 wind and solar parks with a total generation capacity of around 400 megawatts. The company was founded in 1990 and is headquartered in Bremen, Germany.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Energiekontor AG reported revenue of €168M in FY2025 versus €157M in FY2021, a compound +1.8%/yr. Reported net income was €41.0M in FY2025, compounding +3.1%/yr from FY2021.

Growth Quality 36/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€168M
Latest YoY
+32.8%
Avg. growth/yr (3Y)
−3.6%
Avg. growth/yr (5Y)
+2.8%
Avg. growth/yr (21Y)
+11.6%
Revenue +1.8%/yr
FY21 €157M
FY22 €188M
FY23 €242M
FY24 €126M
FY25 €168M
Net income +3.1%/yr
FY21 €36.2M
FY22 €44.5M
FY23 €83.3M
FY24 €22.6M
FY25 €41.0M

EKT screens 17% overvalued. Compare with China Yangtze Power Co →

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Cite: Fair Value Calculator (2026). "Energiekontor AG Fair Value". https://www.fairvalue-calculator.com/stock/EKT

Peer Group

Utilities - Renewable · 220 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.

Quality Score 33 · Below median
Fair Value upside −17% · Below median
Return on equity (TTM) 20% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) 24% · Top 25%
Operating margin (TTM) 26% · Above median
Revenue growth 90% · Top 25%
Dividend yield (TTM) 2.7% · Above median
Debt / equity 1.38× · Higher than median

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/E (TTM) 12.2× · Cheaper than median
P/B 2.56× · Pricier than 75% of peers
P/S (TTM) 3.42× · Pricier than median
EV/EBITDA 9.1× · Cheaper than median

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.

VALUE 11 · sector 15
FUTURE 100 · sector 0
PAST 79 · sector 12
HEALTH 31 · sector 68
DIVIDEND 55 · sector 48

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

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 - Renewable stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥27.99 ¥25.13 -10%
Ørsted A/S ORSTED kr 149.70 kr 31.40 -79%
Huaneng Lancang River Hydropower Inc 600025 ¥9.81 ¥5.57 -43%
Adani Green Energy Limited ADANIGREEN ₹1,537 ₹170.50 -89%
AXIA Energia SA AXIAP $10.74 $9.65 -10%
VERBUND AG OEWA €58.65 €66.19 +13%
BEP BEP $32.33 $73.35 +127%
BEPUN BEPUN C$44.56 C$10.15 -77%
Fortum Oyj FORTUM €19.89 €13.90 -30%
China Longyuan Power Group 001289 ¥16.21 ¥8.23 -49%

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Frequently asked questions

Is Energiekontor AG (EKT) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of €29.08 versus a price of €34.95, about −17% (overvalued).
What is the fair value of EKT?
Our model-based fair value for Energiekontor AG is €29.08 (as of Jul 20, 2026), built from audited fundamentals. The current price is €34.95.
What is the quality score of EKT?
Energiekontor AG has a Quality Score of 33/100. 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 revenue of Energiekontor AG (EKT)?
Energiekontor AG reported trailing-twelve-month revenue of about €168M (latest available figure, as of Jul 20, 2026).
What is the net profit margin of EKT?
The net profit margin of Energiekontor AG is about 24.4%, meaning it keeps roughly 24.4% of revenue as net income. Based on the latest reported figures.
Does Energiekontor AG pay a dividend?
Energiekontor AG currently shows a dividend yield of about 2.08% relative to its recent price (as of Jul 20, 2026).

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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