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Ennogie Solar Group A/S (ESG) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Ennogie Solar Group A/S stock DKK 1.84, price DKK 2.35, that is 21.7% below the price, quality 28 out of 100. Rating: 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.

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Technology DK · ISIN DK0010305077

ES Ennogie Solar Group A/S logo Thin data Nov 10, 2026

Ennogie Solar Group A/S

ESG · CO
Expensive, weak quality

Our calculation puts a fair price 22% below what the stock costs today.

Low debt
Revenue last quarter 23% below a year ago.
Fair value kr 1.84 · Overvalued
Quality 28/100
Weak Growth (revenue 3y −4.8 %/yr in DKK)
Loss-making · -7.8% net margin (TTM)
Negative free cash flow
Trails peers (1/10)
Narrow moat 12/100 · thin data
Thin data
Estimate
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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

kr 33.00 kr 1.47 Fair Value kr 1.84 Aug 2021 Nov 2026

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

How to read this chart

60‑month range kr 1.47 – kr 33.00 · fair‑value band kr 1.38 – kr 2.30 · the kr 2.35 price screens above the kr 1.84 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

Ennogie Solar Group A/S develops, manufactures, and sells building-integrated solar roofs and facades in Denmark and Germany. It also engages in battery solutions and installation business. Ennogie Solar Group A/S was founded in 1951 and is based in Herning, Denmark.

Stock analysis

Ennogie Solar Group A/S (ESG) currently trades at kr 2.35, while our estimate is kr 1.84, 22% below the price, so the stock looks overvalued today.

Show more

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: kr 1.38 (bear) to kr 2.30 (bull), the price of kr 2.35 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 28/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Ennogie Solar Group A/S reported revenue of 52.8M DKK in FY2025 versus 3.1M DKK in FY2021, a compound +103.9%/yr. Reported net income was −3.8M DKK in FY2025.

Key figures

Market cap 77.2M DKK (≈ $11.6M) Micro · P/S ratio 1.83 · EPS (TTM) kr −0.2500 · Net margin −7.1% · Return on equity −53.4% · Return on assets (EBIT) −27.0% (5-year average) · Operating margin −140% · Revenue (TTM) 51.9M DKK.

Competitive moat

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

What moves the price

The share trades about 51% below its 52-week high and 60% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 16% fair-value upside, at −22%, ESG screens richer than that median.

Fair Value

Bear kr 1.38 Fair Value kr 1.84 Bull kr 2.30
Price kr 2.35 · Downside -21.7%
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 28/100

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

Profitability 21
How much profit the company makes from its sales and capital
Quality Growth 73
Are margins and returns getting better?
Cashflow 2
Do the profits arrive as real cash?
Financial strength 30
Debt, balance sheet and risk of trouble
Investment 37
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 33
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 13
Distance to the 52-week high, does not count
New shares 21
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. 34/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+14.3%
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.
−4.8%
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.
+108.2%
Start year 2020 (pandemic). Over 10 years: −8.4% a year
Revenue growth 16 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.
−6.3%
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.
−26.3% (2020) → −5.3% (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

ESG screens overvalued: fair value 22% below the price. Compare with First Solar, Inc →

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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.Solar · 105 stocks

Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 28 · Bottom 25%
Fair Value upside −21.7% · Below median
Profitability
Return on assets −4.9% · Below median
Net margin (12 months) −7.8% · Below median
Operating margin (12 months) −140.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −22.8% · Bottom 25%
Balance sheet
Debt / equity 0.38× · Above median

Valuation Multiplesvs Solar median · lower = cheaper

P/B 3.95× · Priciest 25%
P/S (12 months) 1.49× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)4 · sector 18
FUTURE (revenue growth)0 · sector 5
PAST (return on equity)0 · sector 0
HEALTH (low debt)81 · sector 82
DIVIDEND (yield)0 · sector 26

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 Solar stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
First Solar, Inc FSLR $180.98 $392.02 +117% vs ESG
Hengdian Group 002056 ¥17.22 ¥31.86 +85% vs ESG
Jinko Solar Co 688223 ¥4.22 ¥6.49 +54% vs ESG
Waaree Energies Limited WAAREEENER ₹2,444 ₹3,613 +48% vs ESG
Nextpower Inc NXT $99.82 $115.38 +16% vs ESG
Hanwha Solutions Corporation 009830 24,400 KRW 26,751 KRW +10% vs ESG
Tongwei Co 600438 ¥11.97 ¥12.13 +1% vs ESG
Premier Energies Limited PREMIERENE ₹886.00 ₹646.51 −27% vs ESG
Shanghai Aiko Solar Energy Co 600732 ¥12.96 ¥7.22 −44% vs ESG
CSI Solar Co 688472 ¥8.97 ¥4.87 −46% vs ESG

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Ennogie Solar Group A/S: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Ennogie Solar Group A/S Fair Value". https://www.fairvalue-calculator.com/stock/ESG

Frequently asked questions

Is Ennogie Solar Group A/S (ESG) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is kr 1.84 versus a price of kr 2.35, about 22% lower (overvalued).
What is the fair value of ESG?
Our estimate for Ennogie Solar Group A/S is kr 1.84 (as of Nov 10, 2026), built from audited fundamentals. The current price: kr 2.35.
What is the quality score of ESG?
Ennogie Solar Group A/S has a Quality Score of 28/100. 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 Ennogie Solar Group A/S (ESG)?
Our calculated price target is the estimate of kr 1.84 (as of Nov 10, 2026). Cautious scenario kr 1.38, optimistic scenario kr 2.30. 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 Ennogie Solar Group A/S stock forecast for 2026?
Our estimate puts fair value at kr 1.84, about 22% lower versus a price of kr 2.35 (overvalued). Cautious scenario kr 1.38, optimistic scenario kr 2.30. The calculation is refreshed regularly with new filings.
What is the revenue of Ennogie Solar Group A/S (ESG)?
Ennogie Solar Group A/S reported trailing-twelve-month revenue of about 51.9M DKK (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Ennogie Solar Group A/S (ESG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ennogie Solar Group A/S it is kr 1.84 per share (as of Nov 10, 2026), against a price of kr 2.35.
Is Ennogie Solar Group A/S stock overvalued or undervalued in 2026?
As of Nov 10, 2026, ESG trades above its calculated fair value: price kr 2.35, fair value kr 1.84, a gap of about −22% (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 ESG?
No. The price is what the market pays today (kr 2.35); the fair value is what the company's own numbers justify (kr 1.84). For Ennogie Solar Group A/S the two are kr 0.5100 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ennogie Solar Group A/S worth?
The market values Ennogie Solar Group A/S at about 77.2M DKK (market capitalisation, as of Nov 10, 2026). Per share that is kr 2.35; our models calculate a fair value of kr 1.84 per share.
What do the bullish and bearish scenarios say about ESG?
Our models span a range for Ennogie Solar Group A/S: cautious scenario kr 1.38, base kr 1.84, optimistic kr 2.30 per share (as of Nov 10, 2026, price kr 2.35). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ennogie Solar Group A/S (ESG)?
Balance-sheet figures for Ennogie Solar Group A/S (as of Nov 10, 2026): return on equity −53.4%, debt of 0.38 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is ESG from its 52-week high?
Ennogie Solar Group A/S trades at kr 2.35, about 51% below its 52-week high of kr 4.82 and 60% above the low of kr 1.47 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of kr 1.84 is for.
Which stocks are comparable to Ennogie Solar Group A/S?
From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies Limited, 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 Ennogie Solar Group A/S stock attractive at the current price?
The data as of Nov 10, 2026: price kr 2.35, calculated fair value kr 1.84 (−22%), Quality Score 28/100. 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. Ennogie Solar Group A/S 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 Ennogie Solar Group A/S (ESG)?
The closing price on Nov 10, 2026 was kr 2.35. Our estimate is kr 1.84, about 22% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ennogie Solar Group A/S right now?
The price sits above even our optimistic bull case (kr 2.30). The favourable scenario is already priced in. Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Ennogie Solar Group A/S

How large is the market capitalisation of Ennogie Solar Group A/S (ESG)?
The market capitalisation of Ennogie Solar Group A/S is 77.2M DKK (≈ $11.6M). 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 Ennogie Solar Group A/S (ESG)?
The price-to-sales ratio of Ennogie Solar Group A/S is 1.83 (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 Ennogie Solar Group A/S (ESG)?
Earnings per share at Ennogie Solar Group A/S are kr −0.2500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Ennogie Solar Group A/S (ESG)?
The net margin of Ennogie Solar Group A/S is −7.1% (fiscal year 2025). 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 Ennogie Solar Group A/S (ESG)?
The return on equity (ROE) of Ennogie Solar Group A/S is −53.4% (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 Ennogie Solar Group A/S (ESG)?
On an EBIT basis the return on assets of Ennogie Solar Group A/S is −27.0% (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 Ennogie Solar Group A/S (ESG)?
The operating margin of Ennogie Solar Group A/S is −140% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ennogie Solar Group A/S (ESG)?
Revenue at Ennogie Solar Group A/S is growing −22.8% versus a year earlier (3y avg −4.8%). 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 Ennogie Solar Group A/S (ESG) generate?
The free cash flow of Ennogie Solar Group A/S is −7.7M DKK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ennogie Solar Group A/S (ESG) carry?
The net debt of Ennogie Solar Group A/S is 14.5M DKK (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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