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Athens Water Supply and Sewerage Company (EYDAP) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of Athens Water Supply and Sewerage Company €3.43, price €12.16, upside -71.8%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Utilities · GR · ISIN GRS359353000

AW Some data Sep 27, 2026

Athens Water Supply and Sewerage Company

EYDAP · AT

Weakest SetupStrongly overvalued and low quality.

!Fair value €3.43 · Strongly overvalued (−71.8%)
!Quality 50/100
!Weak Growth (revenue 5y +1.7 %/yr)
!Thin margins · 0.3% net margin (TTM)
!negative free cash flow
!Trails peers (2/11)
!Narrow moat 23/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 1 out of 100
!Weak on dividend: 3 out of 100
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€12.74 €5.24 Fair Value €3.43 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range €5.24 – €12.74 · fair‑value band €2.57 – €4.28 · the €12.16 price screens above the €3.43 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Athens Water Supply and Sewerage Company S.A., together with its subsidiaries, engages in the water supply and refinement, and sewerage and wastewater management activities in Greece.

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Athens Water Supply and Sewerage Company S.A., together with its subsidiaries, engages in the water supply and refinement, and sewerage and wastewater management activities in Greece. The company is involved in the design, construction, installation, operation, maintenance, development, and modernization / renovation of facilities and networks of water supply and sewerage. It operates a water distribution network of 14,000 kilometers; manages four water treatment plants with a total daily capacity of 1.8 million cubic water meters; a sewerage network of 8,500 kilometers; and three wastewater treatment centers in Psyttalia, Metamorphosis, and Thriasio. The company also engages in irrigation and rainwater collection activities. In addition, it produces electric energy through hydro, solar, biogas, natural gas, and thermal energy sources. Athens Water Supply and Sewerage Company S.A. was founded in 1980 and is headquartered in Athens, Greece. Athens Water Supply and Sewerage Company S.A. operates as a subsidiary of Hellenic Corporation of Assets & Participations S.A.

Stock analysis

Athens Water Supply and Sewerage Company (EYDAP) currently trades at €12.16, while our model-based Fair Value estimate is €3.43, implying the stock looks roughly 254.5% overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of €5.84 per share, and 0 of the 15 models we run sit above the €12.16 price.

Bear case: the Earnings-Based group reads lowest at €2.06, and 15 of the 15 models stay below the price. Evidence for this calculation is medium.

Scenario range: €2.57 (bear) to €4.28 (bull), the price of €12.16 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 50/100 (below-average quality), in the Utilities sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

Athens Water Supply and Sewerage Company reported revenue of €352M in FY2023 versus €324M in FY2019, a compound +2.1%/yr. Reported net income was €20.3M in FY2023, compounding −23.1%/yr from FY2019.

Key figures

Market cap €1.3B · P/S ratio 3.28 · Dividend yield 0.2% · Net margin 5.8% · Return on equity 0.2% · Return on assets (EBIT) 0.6% · Operating margin 10.1% · Revenue (TTM) €395M.

What moves the price

The share trades about 5% below its 52-week high and 93% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −41% fair-value upside, at −72%, EYDAP screens richer than that median.

Fair Value models

Bear €2.57 Fair Value €3.43 Bull €4.28
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income €5.38 €5.12 €5.00 76
Owner Earnings €5.25 €5.84 €6.93 75
EPV €4.48 €4.67 €4.83 70
All 15 models by family
DCF Models
Owner Earnings €5.25 €5.84 €6.93 75
Earnings-Based
Graham-Dodd €1.29 €2.06 €2.48 67
EPV €4.48 €4.67 €4.83 70
Dividend Discount
Gordon GGM €0.1500 €0.1800 €0.2100 69
DDM Multi-Stage €0.1500 €0.1900 €0.2400 67
Multiples
P/E Multiple €2.57 €3.43 €4.28 63
P/S Multiple €2.43 €3.24 €4.05 58
P/B Multiple €2.43 €3.24 €4.05 55
EV/EBIT €5.64 €6.50 €7.36 63
EV/EBITDA €7.98 €9.62 €11.26 64
EV/Revenue €5.15 €6.04 €6.94 52
Asset-Based
NCAV (Graham) €3.98 €5.33 €7.96 51
Economic Profit
Residual Income €5.38 €5.12 €5.00 76
ROIC Compounder €4.48 €4.67 €4.83 70
Growth Earnings
Growth-Adj P/E €1.83 €2.61 €3.39 67

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Quality Score breakdown

Overall quality 50/100

Of which business quality 50 · Market factors (momentum, volatility) 84

Profitability 21
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 16
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 80
Price trend over the last 3–12 months (market factor)
52W Momentum 96
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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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. 21/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+2.4%
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.
+2.1%
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.
+1.7%
Revenue growth 9 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.
+0.8%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−17.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−17.5%
Dividend (yield on the price)0.2%
Profit margin 2018 to 2023 ⓘ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.20% → 7%

EYDAP screens 254% overvalued. Compare with American Water Works Company →

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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.Utilities - Regulated Water · 64 stocks

Beats the industry median on 2/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 50 · Above median
Fair Value upside −71.8% · Bottom 25%
Profitability
Return on equity (TTM) 0.2% · Bottom 25%
Return on assets 1.6% · Below median
Net margin (TTM) 0.3% · Bottom 25%
Operating margin (TTM) 10.1% · Below median
Growth and dividend
Revenue growth 17.3% · Top 25%
Dividend yield (TTM) 0.2% · Bottom 25%

Valuation Multiplesvs Utilities - Regulated Water median · lower = cheaper

P/B 1.74× · Pricier than median
P/S (TTM) 3.74× · Priciest 25%
EV/EBITDA 13.1× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)87 · sector 32
PAST (return on equity)1 · sector 30
HEALTH (low debt)0 · sector 65
DIVIDEND (yield)3 · sector 50

VALUE 0: the price sits above our fair-value range.

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 Utilities - Regulated Water stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
American Water Works Company AWK $130.91 $64.66 −51%
SBS SBS $5.18 $7.54 +46%
Essential Utilities, Inc WTRG $39.53 $23.30 −41%
Grandblue Environment Co 600323 ¥28.68 ¥57.09 +99%
American States Water Company AWR $82.80 $38.40 −54%
Chengdu Xingrong Environment Co 000598 ¥7.05 ¥9.09 +29%
California Water Service Group CWT $46.17 $25.75 −44%
Chongqing Water Group 601158 ¥3.98 ¥1.76 −56%
H2O America, through its subsidiaries, HTO $62.27 $29.35 −53%
Zhongshan Public Utilities Group 000685 ¥10.81 ¥14.39 +33%

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Cite: Fair Value Calculator (2026). "Athens Water Supply and Sewerage Company Fair Value". https://www.fairvalue-calculator.com/stock/EYDAP

Frequently asked questions

Is Athens Water Supply and Sewerage Company (EYDAP) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of €3.43 versus a price of €12.16, about −72% upside (overvalued).
What is the fair value of EYDAP?
Our model-based fair value for Athens Water Supply and Sewerage Company is €3.43 (as of Sep 27, 2026), built from audited fundamentals. The current price: €12.16.
What is the quality score of EYDAP?
Athens Water Supply and Sewerage Company 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 price target for Athens Water Supply and Sewerage Company (EYDAP)?
Our model-based price target is the fair value of €3.43 (as of Sep 27, 2026) from 15 valuation models. Cautious scenario €2.57, optimistic scenario €4.28. It is a calculation from audited fundamentals, not an analyst target.
What is the Athens Water Supply and Sewerage Company stock forecast for 2026?
Our models put fair value at €3.43, about −72% upside versus a price of €12.16 (overvalued). Cautious scenario €2.57, optimistic scenario €4.28. The calculation is refreshed regularly with new filings.
What is the revenue of Athens Water Supply and Sewerage Company (EYDAP)?
Athens Water Supply and Sewerage Company reported trailing-twelve-month revenue of about €395M (latest available figure, as of Sep 27, 2026).
Does Athens Water Supply and Sewerage Company pay a dividend?
Athens Water Supply and Sewerage Company currently shows a dividend yield of about 0.16% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of Athens Water Supply and Sewerage Company (EYDAP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Athens Water Supply and Sewerage Company it is €3.43 per share (as of Sep 27, 2026), against a price of €12.16. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Athens Water Supply and Sewerage Company stock overvalued or undervalued in 2026?
As of Sep 27, 2026, EYDAP trades above its calculated fair value: price €12.16, fair value €3.43, a gap of about −72% (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 EYDAP?
No. The price is what the market pays today (€12.16); the fair value is what the company's own numbers justify (€3.43). For Athens Water Supply and Sewerage Company the two are €8.73 per share apart. That gap is exactly why we show both numbers side by side.
How much is Athens Water Supply and Sewerage Company worth?
The market values Athens Water Supply and Sewerage Company at about €1.3B (market capitalisation, as of Sep 27, 2026). Per share that is €12.16; our models calculate a fair value of €3.43 per share.
What do the bullish and bearish scenarios say about EYDAP?
Our models span a range for Athens Water Supply and Sewerage Company: cautious scenario €2.57, base €3.43, optimistic €4.28 per share (as of Sep 27, 2026, price €12.16). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Athens Water Supply and Sewerage Company (EYDAP)?
Balance-sheet figures for Athens Water Supply and Sewerage Company (as of Sep 27, 2026): return on equity 0.2%. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is EYDAP from its 52-week high?
Athens Water Supply and Sewerage Company trades at €12.16, about 5% below its 52-week high of €12.74 and 93% above the low of €6.30 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of €3.43 is for.
Which stocks are comparable to Athens Water Supply and Sewerage Company?
From the same area (Utilities) we also value American Water Works Company, SBS, Essential Utilities, Inc, Grandblue Environment Co, 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 Athens Water Supply and Sewerage Company stock attractive at the current price?
The data as of Sep 27, 2026: price €12.16, calculated fair value €3.43 (−72%), Quality Score 50/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of EYDAP calculated?
We run Athens Water Supply and Sewerage Company through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €3.43, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. Athens Water Supply and Sewerage Company 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 Athens Water Supply and Sewerage Company (EYDAP)?
The closing price on Sep 25, 2026 was €12.16. Our model-based fair value is €3.43, about −72% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Athens Water Supply and Sewerage Company right now?
The price sits above even our optimistic bull case (€4.28). The favourable scenario is already priced in. Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Athens Water Supply and Sewerage Company

How large is the market capitalisation of Athens Water Supply and Sewerage Company (EYDAP)?
The market capitalisation of Athens Water Supply and Sewerage Company is €1.3B. 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 Athens Water Supply and Sewerage Company (EYDAP)?
The price-to-sales ratio of Athens Water Supply and Sewerage Company is 3.28 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Athens Water Supply and Sewerage Company (EYDAP)?
The dividend yield of Athens Water Supply and Sewerage Company is 0.2%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Athens Water Supply and Sewerage Company (EYDAP)?
The net margin of Athens Water Supply and Sewerage Company is 5.8% (fiscal year 2023). 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 Athens Water Supply and Sewerage Company (EYDAP)?
The return on equity (ROE) of Athens Water Supply and Sewerage Company is 0.2% (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 Athens Water Supply and Sewerage Company (EYDAP)?
On an EBIT basis the return on assets of Athens Water Supply and Sewerage Company is 0.6% (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 Athens Water Supply and Sewerage Company (EYDAP)?
The operating margin of Athens Water Supply and Sewerage Company is 10.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Athens Water Supply and Sewerage Company (EYDAP)?
Revenue at Athens Water Supply and Sewerage Company is growing +17.3% versus a year earlier (3y avg +2.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Athens Water Supply and Sewerage Company (EYDAP)?
Earnings per share at Athens Water Supply and Sewerage Company are growing −76.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Athens Water Supply and Sewerage Company (EYDAP) generate?
The free cash flow of Athens Water Supply and Sewerage Company is −€24.5M (fiscal year 2023). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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