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Fourlis Holdings (FOYRK) Fair Value & Analysis

Consumer Cyclical · GR · Market cap €248M

FH Fourlis Holdings FOYRK · AT
Price€4.07
Fair Value€5.45
Upside+34.1%
Quality49/100
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Expensive Growth
Thin margins · 3.6% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/14)
Narrow moat 35/100
Evidence: High Range €3.80 – €8.68 Share as image

Fair value as of: Jul 16, 2026

From 22 valuation models · updated 25 days ago

Share price −6.0% over the past month.

Below-average quality, screening 34% undervalued on our models.

What matters now

  • Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€3.80 to €8.68) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€5.02 €2.34 Fair Value €5.45 Apr 2021 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

60‑month range €2.34 – €5.02 · fair‑value band €3.80 – €8.68 · the €4.07 price screens below the €5.45 fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Fourlis Holdings (FOYRK) currently trades at €4.07, while our model-based Fair Value estimate is €5.45, implying the stock looks roughly 34.1% undervalued today. The Quality Score stands at 49/100 (below-average quality), in the Consumer Cyclical 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, Fourlis Holdings generated revenue of €609M at a net margin of 3.6%. Revenue grew 12.6% year over year. It earns a return on equity of 10.8%. Net debt stands at €93.2M. Fundamentals as of Jul 16, 2026

Our scenario range runs from €3.80 (bear case) to €8.68 (bull case); at €4.07, 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 20% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -24% fair-value upside, at 34%, FOYRK 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
Growth DCF €0.2100 €0.4700 €0.7500 80
Residual Income €3.68 €4.19 €6.79 76
ROIC Compounder €1.10 €1.31 €1.49 72
All 22 models by family
DCF Models
FCF DCF €0.2100 €0.4900 €0.8300 38
Owner Earnings €7.78 €10.57 €13.90 31
5Y Revenue Exit €1.02 €2.10 €3.46 39
5Y EBITDA Exit €5.17 €9.60 €14.69 41
5Y P/E Exit €4.40 €8.21 €12.11 38
10Y Revenue Exit €0.5800 €1.38 €2.40 36
10Y EBITDA Exit €2.87 €5.75 €9.50 37
10Y P/E Exit €2.45 €4.94 €7.87 35
Earnings-Based
Graham-Dodd €3.98 €10.44 €13.62 54
PEG = 1.0 €2.00 €2.85 €3.71 46
EPV €1.10 €1.31 €1.49 59
Multiples
P/E Multiple €9.65 €12.86 €16.08 63
P/S Multiple €7.45 €9.94 €12.42 58
P/B Multiple €7.45 €9.94 €12.42 55
EV/EBIT €3.04 €4.27 €5.50 53
EV/EBITDA €10.58 €14.33 €18.07 54
EV/Revenue €1.83 €2.90 €3.97 43
Asset-Based
NCAV (Graham) €2.11 €2.83 €4.22 50
Growth DCF
Growth DCF €0.2100 €0.4700 €0.7500 80
Economic Profit
Residual Income €3.68 €4.19 €6.79 76
ROIC Compounder €1.10 €1.31 €1.49 72
Growth Earnings
Growth-Adj P/E €7.52 €10.74 €13.96 68

Widest divergence: Growth Earnings (€10.74) versus Growth DCF (€0.4700). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €609M
Revenue growth (YoY) +12.6%
Net margin 3.6%
Return on equity 10.8%
Free cash flow €5.6M FY2025
P/E ratio 10.6
More key figures
Operating margin -3.2%
EPS (TTM) €0.4500
EPS growth (YoY) +92.4%
Net debt €93.2M FY2025

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

Quality Score breakdown

Overall quality 49/100

Of which business quality 45 · Market factors (momentum, volatility) 46

Profitability 44
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 23
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 74
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

Fourlis Holdings S.A., together with its subsidiaries, engages in the retail trading activities in Greece, Turkey, Romania, Bulgaria, and Cyprus, as well as e-commerce stores. The company is involved in the retail trade of home furniture and household goods through IKEA stores; and sporting goods through INTERSPORT and TAF stores.

Full company description

Fourlis Holdings S.A., together with its subsidiaries, engages in the retail trading activities in Greece, Turkey, Romania, Bulgaria, and Cyprus, as well as e-commerce stores. The company is involved in the retail trade of home furniture and household goods through IKEA stores; and sporting goods through INTERSPORT and TAF stores. The company also operates IKEA stores. In addition, it has sporting goods stores under the The Athlete's Foot name in Greece and Turkey; and provides catering and warehousing services. The company was formerly known as Fourlis Bros S.A. and changed its name to Fourlis Holding S.A. in March 2000. The company was incorporated in 1950 and is headquartered in Marousi, Greece.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Fourlis Holdings reported revenue of €594M in FY2025 versus €440M in FY2021, a compound +7.8%/yr. Reported net income was €30.3M in FY2025, compounding +27.3%/yr from FY2021.

Growth Quality 61/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€594M
Latest YoY
+12.1%
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.
+5.8%
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.
+9.9%
Avg. growth/yr (11Y) 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.
+3.8%
Revenue +7.8%/yr
FY21 €440M
FY22 €501M
FY23 €524M
FY24 €530M
FY25 €594M
Net income +27.3%/yr
FY21 €11.5M
FY22 €19.2M
FY23 €19.2M
FY24 €20.0M
FY25 €30.3M

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Cite: Fair Value Calculator (2026). "Fourlis Holdings Fair Value". https://www.fairvalue-calculator.com/stock/FOYRK

Peer Group

Specialty Retail · 221 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 49 · Below median
Fair Value upside +34% · Above median
Return on equity (TTM) 11% · Above median
Return on assets 2% · Below median
Net margin (TTM) 4% · Above median
Operating margin (TTM) -3% · Bottom 25%
Revenue growth 13% · Top 25%
Debt / equity 0.35× · Higher than median

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/E (TTM) 10.6× · Cheaper than 75% of peers
P/B 1.31× · Pricier than median
P/S (TTM) 0.47× · Cheaper than median
P/FCF 51.5× · Pricier than 75% of peers
EV/EBITDA 7.6× · Pricier than median
PEG 1.73× · 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 79 · sector 29
FUTURE 63 · sector 23
PAST 43 · sector 27
HEALTH 82 · sector 94
DIVIDEND 0 · sector 51

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 Specialty Retail stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Casey's General Stores, Inc CASY $827.04 $405.44 -51%
Williams-Sonoma, Inc WSM $222.84 $164.16 -26%
Ulta Beauty, Inc ULTA $479.57 $488.39 +2%
DICK'S Sporting Goods, Inc DKS $208.89 $181.10 -13%
Best Buy Co BBY $83.98 $109.12 +30%
China Tourism Group 601888 ¥52.90 ¥40.40 -24%
Tractor Supply Company TSCO $31.01 $35.52 +15%
Murphy USA Inc MUSA $618.57 $423.35 -32%
Five Below, Inc FIVE $197.71 $117.29 -41%
Taiwan Mobile Co 3045 110.50 TWD 80.98 TWD -27%

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Frequently asked questions

Is Fourlis Holdings (FOYRK) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of €5.45 versus a price of €4.07, about +34% (undervalued).
What is the fair value of FOYRK?
Our model-based fair value for Fourlis Holdings is €5.45 (as of Jul 16, 2026), built from audited fundamentals. The current price is €4.07.
What is the quality score of FOYRK?
Fourlis Holdings has a Quality Score of 49/100. 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 Fourlis Holdings (FOYRK)?
Fourlis Holdings reported trailing-twelve-month revenue of about €609M (latest available figure, as of Jul 16, 2026).
What is the net profit margin of FOYRK?
The net profit margin of Fourlis Holdings is about 3.6%, meaning it keeps roughly 3.6% 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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