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Elvalhalcor Hellenic Copper and Aluminium Industry S.A (ELHA) Fair Value & Analysis

Industrials · GR · Market cap €1.8B

EH Elvalhalcor Hellenic Copper and Aluminium Industry S.A ELHA · AT
Price€3.73
Fair Value€4.60
Upside+23.5%
Quality57/100
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Healthy Growth
Thin margins · 3.3% net margin
Low debt · generates free cash flow
Ranks above peers (10/15)
Narrow moat 37/100
Evidence: High Range €2.31 – €7.25 Share as image

Fair value as of: Jul 15, 2026

From 24 valuation models · updated 26 days ago

Share price −24.9% over the past month.

A solid business, screening 23% undervalued on our models.

What matters now

  • The model range is unusually wide (€2.31 to €7.25). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

€5.72 €1.16 Fair Value €4.60 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range €1.16 – €5.72 · fair‑value band €2.31 – €7.25 · the €3.73 price screens below the €4.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Elvalhalcor Hellenic Copper and Aluminium Industry S.A (ELHA) currently trades at €3.73, while our model-based Fair Value estimate is €4.60, implying the stock looks roughly 23.5% undervalued today. The Quality Score stands at 57/100 (solid 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: high), always confirm before acting.

Over the trailing twelve months, Elvalhalcor Hellenic Copper and Aluminium Industry S.A generated revenue of €3.7B at a net margin of 3.3%. Revenue grew 11.3% year over year. It earns a return on equity of 11.4%. Net debt stands at €590M. Fundamentals as of Jul 15, 2026

Our scenario range runs from €2.31 (bear case) to €7.25 (bull case); at €3.73, 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 34% below its 52-week high and 69% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -72% fair-value upside, at 23%, ELHA 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
Growth DCF €0.9400 €2.14 €3.83 80
Residual Income €2.36 €2.54 €2.88 76
Rev-Margin DCF €2.15 €4.80 €8.14 74
All 24 models by family
DCF Models
FCF DCF €0.9700 €2.31 €4.33 38
Owner Earnings €1.18 €2.66 €4.88 31
5Y Revenue Exit €2.15 €4.89 €8.61 39
5Y EBITDA Exit €3.20 €7.00 €11.77 41
5Y P/E Exit €2.10 €4.77 €7.80 38
10Y Revenue Exit €1.54 €3.82 €7.31 36
10Y EBITDA Exit €2.28 €5.22 €9.69 37
10Y P/E Exit €1.62 €3.74 €6.71 35
Earnings-Based
Graham-Dodd €1.88 €8.27 €11.31 54
Lynch FV €2.14 €3.05 €3.97 50
PEG = 1.0 €2.14 €3.05 €3.97 46
EPV €1.67 €2.06 €2.38 59
Multiples
P/E Multiple €4.35 €5.80 €7.25 63
P/S Multiple €3.52 €4.70 €5.87 58
P/B Multiple €3.52 €4.70 €5.87 55
EV/EBIT €4.65 €6.59 €8.53 53
EV/EBITDA €5.12 €7.22 €9.32 54
EV/Revenue €2.99 €4.77 €6.55 43
Asset-Based
NCAV (Graham) €1.44 €1.93 €2.89 50
Growth DCF
Growth DCF €0.9400 €2.14 €3.83 80
Rev-Margin DCF €2.15 €4.80 €8.14 74
Economic Profit
Residual Income €2.36 €2.54 €2.88 76
ROIC Compounder €1.67 €2.06 €2.38 72
Growth Earnings
Growth-Adj P/E €3.52 €5.03 €6.54 68

Widest divergence: Growth Earnings (€5.03) versus Asset-Based (€1.93). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €3.7B
Revenue growth (YoY) +11.3%
Net margin 3.3%
Return on equity 11.4%
Free cash flow €77.1M FY2025
P/E ratio 17.0
More key figures
Operating margin 7.4%
EPS (TTM) €0.2800
EPS growth (YoY) +48.5%
Net debt €590M FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 55 · Market factors (momentum, volatility) 50

Profitability 44
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 32
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 61
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

Elvalhalcor Hellenic Copper and Aluminium Industry S.A. provides aluminum and copper processing industrial products and solutions. The company offers flat rolled aluminum products and solutions for sea, road, and rail transport; packaging; heating, ventilation, air conditioning, and refrigeration; building and construction; energy; and cookware industries.

Full company description

Elvalhalcor Hellenic Copper and Aluminium Industry S.A. provides aluminum and copper processing industrial products and solutions. The company offers flat rolled aluminum products and solutions for sea, road, and rail transport; packaging; heating, ventilation, air conditioning, and refrigeration; building and construction; energy; and cookware industries. It also provides aluminum foil and aluminum-based packaging materials for semi-rigid food containers, cable wraps, tea lights, heat exchange equipment, technical applications, household use, hair care, and li-ion batteries, as well as flexible packaging for food, pharma, and tobacco applications; and aluminum composite panels, corrugated sheets, false ceiling systems, pre-painted aluminum for rain gutters, pre-painted aluminum coils and sheets for roofing applications, functional coating systems, and coated aluminum strips for flashings and rolling shutters. In addition, the company offers aluminum rolling shutters and boxes; aluminum external boxes and profiles; octagonal galvanized axis and rolling shutter accessories; tubular motors and automations; fly screen systems; and titanium zinc products consisting of coils, strips, sheets, and accessories for facades, roofs, and rainwater drainage systems. Further, it provides copper tubes for water and heating networks, underfloor heating-cooling, air-conditioning, refrigeration, solar energy and geothermy, natural and medical gas, and various industrial applications; copper alloy wire and net for fish farm cages; rolled and extruded copper and copper alloy products used for various building and industrial applications; copper and aluminum enameled wires for transformers, motors, generators, refrigeration compressors, and automotive industry; copper wires for can industry and earthing; and coin blanks. The company was incorporated in 1977 and is based in Athens, Greece. Elvalhalcor Hellenic Copper and Aluminium Industry S.A. is a subsidiary of Viohalco S.A.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Elvalhalcor Hellenic Copper and Aluminium Industry S.A reported revenue of €3.6B in FY2025 versus €2.9B in FY2021, a compound +5.8%/yr. Reported net income was €103M in FY2025, compounding −1.9%/yr from FY2021.

Growth Quality 81/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€3.6B
Latest YoY
+5.1%
Avg. growth/yr (3Y)
−0.9%
Avg. growth/yr (5Y)
+12.2%
Avg. growth/yr (10Y)
+22.3%
Revenue +5.8%/yr
FY21 €2.9B
FY22 €3.7B
FY23 €3.3B
FY24 €3.4B
FY25 €3.6B
Net income −1.9%/yr
FY21 €112M
FY22 €159M
FY23 €28.5M
FY24 €103M
FY25 €103M

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Cite: Fair Value Calculator (2026). "Elvalhalcor Hellenic Copper and Aluminium Industry S.A Fair Value". https://www.fairvalue-calculator.com/stock/ELHA

Peer Group

Metal Fabrication · 243 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 57 · Above median
Fair Value upside +24% · Top 25%
Return on equity (TTM) 11% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 7% · Above median
Revenue growth 11% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.46× · Higher than 75% of peers

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/E (TTM) 17.0× · Cheaper than median
P/B 1.91× · Pricier than median
P/S (TTM) 0.55× · Cheaper than median
P/FCF 26.7× · Pricier than 75% of peers
EV/EBITDA 10.2× · Cheaper than median
PEG 0.13× · Cheaper than 75% of peers

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 65 · sector 0
FUTURE 57 · sector 35
PAST 46 · sector 21
HEALTH 77 · sector 95
DIVIDEND 0 · sector 25

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.

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Frequently asked questions

Is Elvalhalcor Hellenic Copper and Aluminium Industry S.A (ELHA) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of €4.60 versus a price of €3.73, about +23% (undervalued).
What is the fair value of ELHA?
Our model-based fair value for Elvalhalcor Hellenic Copper and Aluminium Industry S.A is €4.60 (as of Jul 15, 2026), built from audited fundamentals. The current price is €3.73.
What is the quality score of ELHA?
Elvalhalcor Hellenic Copper and Aluminium Industry S.A has a Quality Score of 57/100. 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 Elvalhalcor Hellenic Copper and Aluminium Industry S.A (ELHA)?
Elvalhalcor Hellenic Copper and Aluminium Industry S.A reported trailing-twelve-month revenue of about €3.7B (latest available figure, as of Jul 15, 2026).
What is the net profit margin of ELHA?
The net profit margin of Elvalhalcor Hellenic Copper and Aluminium Industry S.A is about 3.3%, meaning it keeps roughly 3.3% of revenue as net income. Based on the latest reported figures.

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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