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EuroTeleSites AG (ETS) Fair Value & Analysis

Communication Services · AT · Market cap €731M

EA EuroTeleSites AG ETS · VI
Price€4.55
Fair Value€4.43
Upside-2.6%
Quality50/100
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Expensive Growth
Solidly profitable · 11.9% net margin
High debt · generates free cash flow
Mixed vs. peers (6/13)
Moderate moat 60/100
Evidence: High Range €2.57 – €5.53 Share as image

Fair value as of: Jul 17, 2026

From 24 valuation models · updated 24 days ago

Share price +2.2% over the past month.

A solid business, 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.
  • A fairly wide model range (€2.57 to €5.53) leaves room in how you read the outcome.
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Price vs Fair Value (3 years)

€5.84 €3.11 Fair Value €4.43 Sep 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

34‑month range €3.11 – €5.84 · fair‑value band €2.57 – €5.53 · the €4.55 price screens above the €4.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

EuroTeleSites AG (ETS) currently trades at €4.55, while our model-based Fair Value estimate is €4.43, implying the stock looks roughly 2.6% fairly valued today. The Quality Score stands at 50/100 (solid quality), in the Communication Services 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, EuroTeleSites AG generated revenue of €280M at a net margin of 11.9%. Revenue grew 7.6% year over year. It earns a return on equity of 8.8%. Net debt stands at €889M. Fundamentals as of Jul 17, 2026

Our scenario range runs from €2.57 (bear case) to €5.53 (bull case); at €4.55, 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 14% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 32% fair-value upside, at -3%, ETS screens richer 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 €9.35 €18.93 €34.00 80
Rev-Margin DCF €2.66 €5.39 €11.10 74
ROIC Compounder €0.7500 €1.37 €1.89 72
All 24 models by family
DCF Models
FCF DCF €10.23 €16.69 €36.00 38
Owner Earnings €5.09 €14.65 €32.38 31
5Y Revenue Exit €2.25 €4.62 €9.42 39
5Y EBITDA Exit €10.42 €21.13 €42.12 41
5Y P/E Exit €2.88 €7.94 €14.29 38
10Y Revenue Exit €4.90 €10.58 €12.78 36
10Y EBITDA Exit €10.43 €26.63 €54.52 37
10Y P/E Exit €5.40 €11.83 €21.18 35
Earnings-Based
Graham-Dodd €1.37 €9.54 €13.39 54
Lynch FV €4.93 €7.04 €9.15 50
PEG = 1.0 €4.93 €7.04 €9.15 46
EPV €0.7500 €1.37 €1.89 59
Multiples
P/E Multiple €3.17 €4.23 €5.28 63
P/S Multiple €2.50 €3.33 €4.16 58
P/B Multiple €2.57 €3.42 €4.28 55
EV/EBIT €4.26 €6.96 €9.65 53
EV/EBITDA €10.27 €14.97 €19.66 54
EV/Revenue €0.0800 43
Asset-Based
NCAV (Graham) €1.25 €1.67 €2.49 50
Growth DCF
Growth DCF €9.35 €18.93 €34.00 80
Rev-Margin DCF €2.66 €5.39 €11.10 74
Economic Profit
Residual Income €1.95 €2.05 €2.16 61
ROIC Compounder €0.7500 €1.37 €1.89 72
Growth Earnings
Growth-Adj P/E €6.45 €9.21 €11.97 68

Widest divergence: DCF Models (€11.83) versus Economic Profit (€1.37). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €280M
Revenue growth (YoY) +7.6%
Net margin 11.9%
Return on equity 8.8%
Free cash flow €171M FY2025
P/E ratio 23.0
More key figures
Operating margin 35.4%
EPS (TTM) €0.2000
EPS growth (YoY) +1.5%
Net debt €889M FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 49 · Market factors (momentum, volatility) 46

Profitability 28
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 92
Earnings quality: real cash, not paper profit
Fin. Strength 7
Balance sheet, leverage, solvency risk
Investment 30
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 82
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

EuroTeleSites AG provides telecommunications infrastructure and solutions under the EuroTeleSites brand in Austria, Bulgaria, Croatia, Slovenia, North Macedonia, Serbia, and Slovenia. The company offers various solutions for building and maintaining various telecommunications services.

Full company description

EuroTeleSites AG provides telecommunications infrastructure and solutions under the EuroTeleSites brand in Austria, Bulgaria, Croatia, Slovenia, North Macedonia, Serbia, and Slovenia. The company offers various solutions for building and maintaining various telecommunications services. It also provides space for installation of the required active components of the mobile network operator (MNO), including antennas, directional radio antennas, and air conditioning and access systems; contract management services comprising colocation management for existing and future contracts; and structure, air-conditioning, security, and energy systems maintenance services. In addition, the company supports the MNOs in electromagnetic fields (EMF) communication with authorities and tenants; offers built-to-suit and upgrading services, as well as energy services comprise alternative energy supply; and solutions for deployment and maintenance of wireless telecommunication networks. It serves mobile network operators, internet service providers, enterprises, and government agencies. The company was founded in 2023 and is headquartered in Vienna, Austria. EuroTeleSites AG operates as a subsidiary of América Móvil B.V.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

EuroTeleSites AG reported revenue of €276M in FY2025 versus €27.0M in FY2021, a compound +78.8%/yr. Reported net income was €33.4M in FY2025.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€276M
Latest YoY
+5.1%
Avg. growth/yr (3Y)
+68.4%
Revenue +78.8%/yr
FY21 €27.0M
FY22 €57.9M
FY23 €288M
FY24 €263M
FY25 €276M
Net income
FY21 −€70.9M
FY22 −€55.0M
FY23 €31.7M
FY24 €29.7M
FY25 €33.4M

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

Peer Group

Telecom Services · 252 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 50 · Below median
Fair Value upside −3% · Above median
Return on equity (TTM) 9% · Above median
Return on assets 3% · Above median
Net margin (TTM) 12% · Above median
Operating margin (TTM) 35% · Top 25%
Revenue growth 8% · Above median
Debt / equity 1.64× · Higher than 75% of peers

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 22.0× · Pricier than median
P/B 2.04× · Pricier than median
P/S (TTM) 3.02× · Pricier than 75% of peers
P/FCF 4.9× · Pricier than median
EV/EBITDA 9.0× · Pricier 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 30 · sector 30
FUTURE 38 · sector 15
PAST 35 · sector 28
HEALTH 18 · sector 89
DIVIDEND 0 · sector 72

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 Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥89.98 ¥109.88 +22%
T-Mobile US, Inc TMUS $187.61 $172.67 -8%
Bharti Airtel Limited BHARTIARTL ₹1,922 ₹941.55 -51%
China Telecom Corporation 601728 ¥6.01 ¥8.36 +39%
América Móvil, S.A. AMXB 23.07 MXN 30.35 MXN +32%
Vodafone Group VODN 259.50 MXN 507.27 MXN +95%
Advanced Info Service Public Company ADVANC 379.00 THB 286.77 THB -24%
Chunghwa Telecom Co 2412 133.50 TWD 100.00 TWD -25%
China Unicom (Hong Kong) Limited 0762 HK$6.50 HK$13.03 +100%
Telefónica, S.A TEFN 75.67 MXN 111.01 MXN +47%

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Frequently asked questions

Is EuroTeleSites AG (ETS) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of €4.43 versus a price of €4.55, about −3% (fairly valued).
What is the fair value of ETS?
Our model-based fair value for EuroTeleSites AG is €4.43 (as of Jul 17, 2026), built from audited fundamentals. The current price is €4.55.
What is the quality score of ETS?
EuroTeleSites AG has a Quality Score of 50/100. 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 EuroTeleSites AG (ETS)?
EuroTeleSites AG reported trailing-twelve-month revenue of about €280M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of ETS?
The net profit margin of EuroTeleSites AG is about 11.9%, meaning it keeps roughly 11.9% 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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