Groep Brussel Lambert NV (GBLB) fair value: what the stock is really worth
We calculate from audited financials what Groep Brussel Lambert NV is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range €54.41 – €83.00 · fair‑value band €45.75 – €91.54 · the €74.40 price screens below the €91.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
Groupe Bruxelles Lambert SA invests in a portfolio of industrial, consumer goods, and business service companies in Belgium, other European countries, North America, and internationally. It operates through six segments: Holding, Imerys, Canyon, Affidea, Sanoptis, and GBL Capital and Sienna Investment Managers.
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Groupe Bruxelles Lambert SA invests in a portfolio of industrial, consumer goods, and business service companies in Belgium, other European countries, North America, and internationally. It operates through six segments: Holding, Imerys, Canyon, Affidea, Sanoptis, and GBL Capital and Sienna Investment Managers. The company was incorporated in 1902 and is headquartered in Brussels, Belgium.
Stock analysis
Groep Brussel Lambert NV (GBLB) currently trades at €74.40, while our model-based Fair Value estimate is €91.54, implying the stock looks roughly 18.7% undervalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of €78.42 per share, and 2 of the 3 models we run sit above the €74.40 price.
Bear case: the Asset-Based group reads lowest at €64.92, and 1 of the 3 models stay below the price. Evidence for this calculation is medium.
Scenario range: €45.75 (bear) to €91.54 (bull), the price of €74.40 sits inside 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 Financial Services sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Groep Brussel Lambert NV reported revenue of €6.4B in FY2025 versus €6.5B in FY2021, a compound −0.3%/yr. Reported net income was −€625M in FY2025.
Key figures
Market cap €9.4B · P/S ratio 1.43 · EPS (TTM) €−2.34 · Dividend yield 6.9% · Net margin −9.7% · Return on equity −3.8% · Return on assets (EBIT) 1.8% · Operating margin 8.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 11% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −25% fair-value upside, at 23%, GBLB screens cheaper than that median.
Fair Value models
Bear €45.75Fair Value €91.54Bull €91.54
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.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.
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
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
+5.0%
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.
+1.8%
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.
+0.4%
Revenue growth 25 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.
+10.0%
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Profit margin (trend) ⓘ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.
18.4% (2019) → 6.4% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+55.5%
Yearly growth needed for the next five years to justify today's price.
Compare Groep Brussel Lambert NV with another stock
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.Asset Management · 655 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score46 · Bottom 25%
Fair Value upside+24% · Above median
Profitability
Return on assets1% · Below median
Net margin (TTM)−9% · Bottom 25%
Operating margin (TTM)9% · Below median
Growth and dividend
Revenue growth6% · Above median
Dividend yield (TTM)6.9% · Top 25%
Balance sheet
Debt / equity0.59× · Highest 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
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Is Groep Brussel Lambert NV (GBLB) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of €91.54 versus a price of €74.40, about +23% upside (undervalued).
What is the fair value of GBLB?
Our model-based fair value for Groep Brussel Lambert NV is €91.54 (as of Sep 18, 2026), built from audited fundamentals. The current price: €74.40.
What is the quality score of GBLB?
Groep Brussel Lambert NV 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 Groep Brussel Lambert NV (GBLB)?
Our model-based price target is the fair value of €91.54 (as of Sep 18, 2026) from 4 valuation models. Cautious scenario €45.75, optimistic scenario €91.54. It is a calculation from audited fundamentals, not an analyst target.
What is the Groep Brussel Lambert NV stock forecast for 2026?
Our models put fair value at €91.54, about +23% upside versus a price of €74.40 (undervalued). Cautious scenario €45.75, optimistic scenario €91.54. The calculation is refreshed regularly with new filings.
What is the revenue of Groep Brussel Lambert NV (GBLB)?
Groep Brussel Lambert NV reported trailing-twelve-month revenue of about €6.5B (latest available figure, as of Sep 18, 2026).
Does Groep Brussel Lambert NV pay a dividend?
Groep Brussel Lambert NV currently shows a dividend yield of about 6.89% relative to its recent price (as of Sep 18, 2026).
What growth is priced into Groep Brussel Lambert NV (GBLB)?
For today's price to be fair in a discounted-cash-flow model, Groep Brussel Lambert NV would have to grow free cash flow by +55.5 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.4 % per year. As of Sep 18, 2026.
What discount rate (WACC) does the fair value of GBLB use?
Our models discount Groep Brussel Lambert NV at 9.0 %: a base by market capitalisation (large), damped by beta 0.68, country premium for Belgium. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Groep Brussel Lambert NV that is +55.5 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Groep Brussel Lambert NV (GBLB) delivered so far?
Over the past 5 years revenue at Groep Brussel Lambert NV grew +0.4 % a year. The price currently implies +55.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Groep Brussel Lambert NV (GBLB) growing?
The median revenue growth in the sector is +8.1 % a year. That is the yardstick for the growth priced into Groep Brussel Lambert NV (+55.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Groep Brussel Lambert NV (GBLB)?
The free-cash-flow yield on the price is 0.73 %: that much free cash flow Groep Brussel Lambert NV produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Groep Brussel Lambert NV (GBLB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Groep Brussel Lambert NV it is €91.54 per share (as of Sep 18, 2026), against a price of €74.40. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Groep Brussel Lambert NV stock overvalued or undervalued in 2026?
As of Sep 18, 2026, GBLB trades below its calculated fair value: price €74.40, fair value €91.54, a gap of about +23% (undervalued). 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 GBLB?
No. The price is what the market pays today (€74.40); the fair value is what the company's own numbers justify (€91.54). For Groep Brussel Lambert NV the two are €17.14 per share apart. That gap is exactly why we show both numbers side by side.
How much is Groep Brussel Lambert NV worth?
The market values Groep Brussel Lambert NV at about €9.4B (market capitalisation, as of Sep 18, 2026). Per share that is €74.40; our models calculate a fair value of €91.54 per share.
What do the bullish and bearish scenarios say about GBLB?
Our models span a range for Groep Brussel Lambert NV: cautious scenario €45.75, base €91.54, optimistic €91.54 per share (as of Sep 18, 2026, price €74.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of GBLB?
The PEG ratio of Groep Brussel Lambert NV is 0.52 (P/E divided by earnings growth, as of Sep 18, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Groep Brussel Lambert NV (GBLB)?
Balance-sheet figures for Groep Brussel Lambert NV (as of Sep 18, 2026): return on equity −3.8%, debt of 0.59 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is GBLB from its 52-week high?
Groep Brussel Lambert NV trades at €74.40, about 11% below its 52-week high of €83.40 and 13% above the low of €65.88 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of €91.54 is for.
Which stocks are comparable to Groep Brussel Lambert NV?
From the same area (Financial Services) we also value Blackstone Inc, Investor AB, Brookfield Corporation, KKR & 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 Groep Brussel Lambert NV stock attractive at the current price?
The data as of Sep 18, 2026: price €74.40, calculated fair value €91.54 (+23%), Quality Score 45/100, from 4 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 GBLB calculated?
We run Groep Brussel Lambert NV through 4 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 €91.54, 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. Groep Brussel Lambert NV currently trades 23 % below its own fair value, and the market average says nothing about that. 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 Groep Brussel Lambert NV (GBLB)?
The closing price on Sep 21, 2026 was €74.40. Our model-based fair value is €91.54, about +23% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Groep Brussel Lambert NV right now?
Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (€45.75 to €91.54) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Groep Brussel Lambert NV (GBLB) come from?
Earnings per share at Groep Brussel Lambert NV grew +1.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.3 %, EBIT margin −9.7 %, tax rate −0.1 %, residual (interest, one-offs) +6.5 %. 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 Groep Brussel Lambert NV
How large is the market capitalisation of Groep Brussel Lambert NV (GBLB)?
The market capitalisation of Groep Brussel Lambert NV is €9.4B. 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 Groep Brussel Lambert NV (GBLB)?
The price-to-sales ratio of Groep Brussel Lambert NV is 1.43 (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 Groep Brussel Lambert NV (GBLB)?
Earnings per share at Groep Brussel Lambert NV are €−2.34. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Groep Brussel Lambert NV (GBLB)?
The dividend yield of Groep Brussel Lambert NV is 6.9%. 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 Groep Brussel Lambert NV (GBLB)?
The net margin of Groep Brussel Lambert NV is −9.7% (fiscal year 2025). 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 Groep Brussel Lambert NV (GBLB)?
The return on equity (ROE) of Groep Brussel Lambert NV is −3.8% (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 Groep Brussel Lambert NV (GBLB)?
On an EBIT basis the return on assets of Groep Brussel Lambert NV is 1.8% (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 Groep Brussel Lambert NV (GBLB)?
The operating margin of Groep Brussel Lambert NV is 8.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Groep Brussel Lambert NV (GBLB)?
Revenue at Groep Brussel Lambert NV is growing +6.2% versus a year earlier (3y avg +1.8%). 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 Groep Brussel Lambert NV (GBLB)?
Earnings per share at Groep Brussel Lambert NV are growing −31.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Groep Brussel Lambert NV (GBLB) carry?
The net debt of Groep Brussel Lambert NV is €6.8B (fiscal year 2025, ≈ 98.7 yrs of FCF). 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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Some data
Sep 18, 2026