Fluxys Belgium (FLUX) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of Fluxys Belgium stock €12.37, price €21.00, that is 41.1% below the price, quality 45 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range €11.86 – €26.95 · fair‑value band €10.49 – €15.33 · the €21.00 price screens above the €12.37 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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Fluxys Belgium SA, an infrastructure company, engages in transmission and storage of natural gas in Belgium.
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It offers terminalling services for liquefied natural gas (LNG); and transmits natural gas to distribution system operators, power stations, and industrial end-users in Belgium, as well as to transport natural gas to border points for transmission to other end-user markets in Europe.
The company also provides storage services, which enables customers to use buffer capacity flexibly through underground storage facilities of gas in Loenhout, Belgium; and engages in sale of standard bundled packages, composed of injection, and storage and withdrawing capacity activities.
In addition, it offers unloading and related services, including storage and regasification that transform the liquid gas into gas that can be injected in the grid; and transhipment services comprising ship-to-ship and ship-storage-ship. Further, the company is involved in the reinsurance business.
Fluxys Belgium SA was incorporated in 1929 and is based in Brussels, Belgium. Fluxys Belgium SA is a subsidiary of Fluxys SA.
Stock analysis
Fluxys Belgium (FLUX) currently trades at €21.00, while our model-based Fair Value estimate is €12.37, 41.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €14.38 per share, and 1 of the 14 models we run sit above the €21.00 price.
Bear case: the Asset-Based group reads lowest at €5.35, and 13 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €10.49 (bear) to €15.33 (bull), the price of €21.00 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 45/100 (below-average quality), in the Energy sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Fluxys Belgium reported revenue of €769M in FY2025 versus €606M in FY2021, a compound +6.2%/yr. Reported net income was €76.8M in FY2025, compounding +0.4%/yr from FY2021.
Key figures
Market cap €1.5B Small · P/E ratio 16.7 · P/S ratio 1.96 · EPS (TTM) €1.25 · Dividend yield 6.7% · Net margin 11.9% · Return on equity 16.2% · Return on assets (EBIT) 4.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (medium confidence).
What moves the price
The share trades about 9% below its 52-week high and 32% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −28% fair-value upside, at −41%, FLUX screens richer than that median.
Fair Value models
Bear€10.49Fair Value €12.37Bull€15.33
Price €21.00 · Downside -41.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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.Coverage ⓘCoverage = 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.
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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
+7.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.9%
Dividend (yield on the price)6.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.0.9% vs 2.4%, steady
Profit margin 2020 to 2025 ⓘ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.23% → 17%
News mood ⓘNews mood, the average tone of recent news (42 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Negative
Recent news coverage is more negative than average.
Price, fair value, quality and upside side by side.
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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.Oil & Gas Midstream · 81 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside−41.1% · Below median
Profitability
Return on equity (12 months)16.2% · Above median
Return on assets2.4% · Below median
Net margin (12 months)11.9% · Below median
Operating margin (12 months)22.0% · Below median
Growth and dividend
Revenue growth (quarter YoY)−4.0% · Bottom 25%
Dividend yield (12 months)6.7% · Top 25%
Balance sheet
Debt / equity1.63× · Above median
Valuation Multiplesvs Oil & Gas Midstream median · lower = cheaper
P/E (12 months)16.7× · Pricier than median
P/B2.50× · Pricier than median
P/S (12 months)1.96× · Cheaper than median
EV/EBITDA5.2× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 1
FUTURE (revenue growth)0· sector 100
PAST (return on equity)65· sector 56
HEALTH (low debt)19· sector 56
DIVIDEND (yield)100· sector 79
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Fluxys Belgium Fair Value". https://www.fairvalue-calculator.com/stock/FLUX.BR
Frequently asked questions
Is Fluxys Belgium (FLUX) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of €12.37 versus a price of €21.00, about 41% lower (overvalued).
What is the fair value of FLUX?
Our model-based fair value for Fluxys Belgium is €12.37 (as of Nov 1, 2026), built from audited fundamentals. The current price: €21.00.
What is the quality score of FLUX?
Fluxys Belgium has a Quality Score of 45/100. 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 Fluxys Belgium (FLUX)?
Our model-based price target is the fair value of €12.37 (as of Nov 1, 2026) from 14 valuation models. Cautious scenario €10.49, optimistic scenario €15.33. It is a calculation from audited fundamentals, not an analyst target.
What is the Fluxys Belgium stock forecast for 2026?
Our models put fair value at €12.37, about 41% lower versus a price of €21.00 (overvalued). Cautious scenario €10.49, optimistic scenario €15.33. The calculation is refreshed regularly with new filings.
What is the revenue of Fluxys Belgium (FLUX)?
Fluxys Belgium reported trailing-twelve-month revenue of about €753M (latest available figure, as of Nov 1, 2026).
Does Fluxys Belgium pay a dividend?
Fluxys Belgium currently shows a dividend yield of 6.67% relative to its recent price (as of Nov 1, 2026).
What is the intrinsic value of Fluxys Belgium (FLUX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fluxys Belgium it is €12.37 per share (as of Nov 1, 2026), against a price of €21.00. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Fluxys Belgium stock overvalued or undervalued in 2026?
As of Nov 1, 2026, FLUX trades above its calculated fair value: price €21.00, fair value €12.37, a gap of about −41% (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 FLUX?
No. The price is what the market pays today (€21.00); the fair value is what the company's own numbers justify (€12.37). For Fluxys Belgium the two are €8.63 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fluxys Belgium worth?
The market values Fluxys Belgium at about €1.5B (market capitalisation, as of Nov 1, 2026). Per share that is €21.00; our models calculate a fair value of €12.37 per share.
What do the bullish and bearish scenarios say about FLUX?
Our models span a range for Fluxys Belgium: cautious scenario €10.49, base €12.37, optimistic €15.33 per share (as of Nov 1, 2026, price €21.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FLUX?
Fluxys Belgium trades at a price-to-earnings ratio of 16.7 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €12.37 is built from several models across several years. Other multiples: P/B 2.5, P/S 2.0, EV/EBITDA 5.2.
How solid is the balance sheet of Fluxys Belgium (FLUX)?
Balance-sheet figures for Fluxys Belgium (as of Nov 1, 2026): return on equity 16.2%, debt of 1.63 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is FLUX from its 52-week high?
Fluxys Belgium trades at €21.00, about 9% below its 52-week high of €23.00 and 32% above the low of €15.88 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of €12.37 is for.
Which stocks are comparable to Fluxys Belgium?
From the same area (Energy) we also value Enbridge Inc, The Williams Companies, Inc, Enterprise Products Partners L.P., Kinder Morgan, Inc, 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 Fluxys Belgium stock attractive at the current price?
The data as of Nov 1, 2026: price €21.00, calculated fair value €12.37 (−41%), Quality Score 45/100, from 14 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 FLUX calculated?
We run Fluxys Belgium through 14 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 €12.37, 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 14.9 % above its aggregate fair value. Fluxys Belgium 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 Fluxys Belgium (FLUX)?
The closing price on Oct 30, 2026 was €21.00. Our model-based fair value is €12.37, about 41% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fluxys Belgium right now?
The price sits above even our optimistic bull case (€15.33). The favourable scenario is already priced in. Weak quality (45/100) and above fair value at the same time, the margin of safety is missing on both counts.
Where does the earnings growth of Fluxys Belgium (FLUX) come from?
Earnings per share at Fluxys Belgium grew +3.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.6 %, EBIT margin −3.0 %, tax rate +1.8 %, residual (interest, one-offs) +2.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Fluxys Belgium
How large is the market capitalisation of Fluxys Belgium (FLUX)?
The market capitalisation of Fluxys Belgium is €1.5B. 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 Fluxys Belgium (FLUX)?
The price-to-sales ratio of Fluxys Belgium is 1.96 (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 Fluxys Belgium (FLUX)?
Earnings per share at Fluxys Belgium are €1.25 (price ÷ EPS = P/E 16.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fluxys Belgium (FLUX)?
The dividend yield of Fluxys Belgium is 6.7% (payout 112%). 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 Fluxys Belgium (FLUX)?
The net margin of Fluxys Belgium is 11.9% (last twelve months). 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 Fluxys Belgium (FLUX)?
The return on equity (ROE) of Fluxys Belgium is 16.2% (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 Fluxys Belgium (FLUX)?
On an EBIT basis the return on assets of Fluxys Belgium is 4.3% (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 Fluxys Belgium (FLUX)?
The operating margin of Fluxys Belgium is 22.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fluxys Belgium (FLUX)?
Revenue at Fluxys Belgium is growing −4.0% versus a year earlier (3y avg −13.6%). 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 Fluxys Belgium (FLUX)?
Earnings per share at Fluxys Belgium are growing +38.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Fluxys Belgium (FLUX) generate?
The free cash flow of Fluxys Belgium is −€147M (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 Fluxys Belgium (FLUX) carry?
The net debt of Fluxys Belgium is €258M (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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Nov 1, 2026