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Energy Solar Tech, S.A (ETC) Fair Value & Analysis

Utilities · ES · Market cap €43.7M

ES Energy Solar Tech, S.A ETC · MC
Price€1.43
Fair Value€1.46
Upside+2.1%
Quality38/100
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Expensive Growth
Thin margins · 2.7% net margin
Low debt · negative free cash flow
Ranks above peers (8/12)
Narrow moat 32/100
Evidence: High Range €1.09 – €1.82 Share as image

Fair value as of: Jul 16, 2026

From 17 valuation models · updated 25 days ago

Share price −23.5% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from €1.09 (bear) to €1.82 (bull), base €1.46. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 38/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (4 years)

€9.68 €1.32 Fair Value €1.46 Dec 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

44‑month range €1.32 – €9.68 · fair‑value band €1.09 – €1.82 · the €1.43 price screens below the €1.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Energy Solar Tech, S.A (ETC) currently trades at €1.43, while our model-based Fair Value estimate is €1.46, implying the stock looks roughly 2.1% fairly valued today. The Quality Score stands at 38/100 (below-average 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, Energy Solar Tech, S.A generated revenue of €64.3M at a net margin of 0.7%. Revenue grew 37.4% year over year. It earns a return on equity of 0.9%. Net debt stands at €9.9M. Fundamentals as of Jul 16, 2026

Our scenario range runs from €1.09 (bear case) to €1.82 (bull case); at €1.43, 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 55% below its 52-week high, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -30% fair-value upside, at 2%, ETC 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 Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income €1.21 €1.14 €0.9100 76
ROIC Compounder €0.8200 €0.9000 €0.9700 72
Gordon GGM €0.0300 €0.0500 €0.0600 70
All 17 models by family
DCF Models
Owner Earnings €1.81 €3.46 €6.35 31
Earnings-Based
Graham-Dodd €0.5500 €3.84 €5.38 54
Lynch FV €1.98 €2.83 €3.68 50
PEG = 1.0 €1.98 €2.83 €3.68 46
EPV €0.8200 €0.9000 €0.9700 59
Dividend Discount
Gordon GGM €0.0300 €0.0500 €0.0600 70
DDM Multi-Stage €0.0300 €0.0500 €0.0500 61
Multiples
P/E Multiple €1.09 €1.46 €1.82 63
P/S Multiple €1.03 €1.37 €1.72 58
P/B Multiple €1.03 €1.37 €1.72 55
EV/EBIT €1.83 €2.40 €2.98 53
EV/EBITDA €2.50 €3.31 €4.11 54
EV/Revenue €1.49 €2.09 €2.69 43
Asset-Based
NCAV (Graham) €0.9000 €1.21 €1.80 50
Economic Profit
Residual Income €1.21 €1.14 €0.9100 76
ROIC Compounder €0.8200 €0.9000 €0.9700 72
Growth Earnings
Growth-Adj P/E €2.48 €3.54 €4.60 68

Widest divergence: Growth Earnings (€3.54) versus Dividend Discount (€0.0500). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) €81.7M
Revenue growth (YoY) +37.4%
Net margin 2.7%
Return on equity 4.6%
Free cash flow −€1.3M FY2025
P/E ratio 20.4
More key figures
Operating margin 4.9%
EPS (TTM) €0.0800
EPS growth (YoY) -72.3%
Net debt €9.9M FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 40 · Market factors (momentum, volatility) 15

Profitability 35
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 39
Calm price path (market factor)
Momentum 8
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 54
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

Energy Solar Tech, S.A. primarily provides energy outsourcing services for solar plants in Spain, Chile, and internationally. It also acquires and develops photovoltaic systems, micro and mini wind power, hybrid cogeneration, hydrogen, biogas, and biomass; hydraulic pumping and storage; and specialized engineering.

Full company description

Energy Solar Tech, S.A. primarily provides energy outsourcing services for solar plants in Spain, Chile, and internationally. It also acquires and develops photovoltaic systems, micro and mini wind power, hybrid cogeneration, hydrogen, biogas, and biomass; hydraulic pumping and storage; and specialized engineering. The company was incorporated in 2020 and is based in Las Rozas de Madrid, Spain.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Energy Solar Tech, S.A reported revenue of €81.2M in FY2025 versus €4.2M in FY2021, a compound +109.3%/yr. Reported net income was €2.2M in FY2025, compounding +79.0%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€81.2M
Latest YoY
+26.1%
Avg. growth/yr (3Y) 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.
+80.5%
Avg. growth/yr (5Y) 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.
+197.3%
Revenue +109.3%/yr
FY21 €4.2M
FY22 €13.8M
FY23 €53.1M
FY24 €64.3M
FY25 €81.2M
Net income +79.0%/yr
FY21 €211K
FY22 €2.2M
FY23 €2.8M
FY24 €425K
FY25 €2.2M

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Cite: Fair Value Calculator (2026). "Energy Solar Tech, S.A Fair Value". https://www.fairvalue-calculator.com/stock/ETC

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 38 · Below median
Fair Value upside +2% · Above median
Return on equity (TTM) 5% · Above median
Return on assets 4% · Top 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 37% · Top 25%
Debt / equity 0.02× · Lower than 75% of peers

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/E (TTM) 20.4× · Pricier than median
P/B 1.05× · Cheaper than median
P/S (TTM) 0.62× · Cheaper than 75% of peers
EV/EBITDA 5.2× · 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 36 · sector 12
FUTURE 100 · sector 0
PAST 18 · sector 12
HEALTH 99 · sector 68
DIVIDEND 0 · sector 48

Insider activity: 40/100

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 16, 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 Energy Solar Tech, S.A (ETC) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of €1.46 versus a price of €1.43, about +2% (fairly valued).
What is the fair value of ETC?
Our model-based fair value for Energy Solar Tech, S.A is €1.46 (as of Jul 16, 2026), built from audited fundamentals. The current price is €1.43.
What is the quality score of ETC?
Energy Solar Tech, S.A has a Quality Score of 38/100. 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 Energy Solar Tech, S.A (ETC)?
Energy Solar Tech, S.A reported trailing-twelve-month revenue of about €64.3M (latest available figure, as of Jul 16, 2026).
What is the net profit margin of ETC?
The net profit margin of Energy Solar Tech, S.A is about 0.7%, meaning it keeps roughly 0.7% 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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