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Groupe Bruxelles Lambert SA (GBLB) Fair Value & Analysis

Financial Services · BE · Market cap €9.5B

GB Groupe Bruxelles Lambert SA GBLB · BR
Price€78.20
Fair Value€91.54
Upside+17.1%
Quality51/100
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Weak Growth
Loss-making · -9.3% net margin
Moderate debt · generates free cash flow
6.45% dividend yield
Mixed vs. peers (6/14)
Narrow moat 21/100
Evidence: Medium Range €45.75 – €139.23 Share as image

Fair value as of: Aug 6, 2026

From 10 valuation models · updated yesterday

Fair value updated Aug 6, 2026, revised from €103.74 to €91.54 (−11.8%) since Jul 26, 2026. Share price −0.3% over the past month.

A solid business, screening 17% undervalued on our models.

What matters now

  • The model range is unusually wide (€45.75 to €139.23). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

€83.00 €54.41 Fair Value €91.54 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.

How to read this chart

60‑month range €54.41 – €83.00 · fair‑value band €45.75 – €139.23 · the €78.20 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 Aug 6, 2026.

Full chart & analysis →

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Analysis

Groupe Bruxelles Lambert SA (GBLB) currently trades at €78.20, while our model-based Fair Value estimate is €91.54, implying the stock looks roughly 17.1% undervalued today. We read business quality at 51/100 (solid quality), in the Financial Services 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: medium), always confirm before acting.

Over the trailing twelve months, Groupe Bruxelles Lambert SA generated revenue of €6.5B at a net margin of -10.1%. Revenue grew 6.2% year over year. It earns a return on equity of -3.6%. Net debt stands at €6.8B. Fundamentals as of Aug 6, 2026

Our scenario range runs from €45.75 (bear case) to €139.23 (bull case); at €78.20, 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 6% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -51% fair-value upside, at 17%, GBLB 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 BearBaseBull Evidence
Highest evidence
Rev-Margin DCF €14.65 74
Gordon GGM €45.54 €90.74 €137.40 70
DDM Multi-Stage €45.54 €78.42 €95.78 61
All 10 models by family
DCF Models
5Y Revenue Exit €18.94 39
5Y EBITDA Exit €0.1100 €54.49 €125.14 41
10Y Revenue Exit €10.63 36
10Y EBITDA Exit €28.15 €98.97 37
Dividend Discount
Gordon GGM €45.54 €90.74 €137.40 70
DDM Multi-Stage €45.54 €78.42 €95.78 61
Multiples
EV/EBIT €3.11 €16.74 53
EV/EBITDA €27.68 €54.05 €80.42 54
Asset-Based
NCAV (Graham) €48.45 €64.92 €96.89 50
Growth DCF
Rev-Margin DCF €14.65 74

Widest divergence: Dividend Discount (€78.42) versus Multiples (€3.11). Highest evidence: Rev-Margin DCF (74).

Key figures & financial health

Revenue (TTM) €6.6B
Revenue growth (YoY) +6.2%
Net margin -9.3%
Return on equity -3.8%
Free cash flow €69.0M FY2025
Operating margin 8.8%
More key figures
EPS (TTM) €-2.34
Dividend yield 6.5%
EPS growth (YoY) -31.5%
Net debt €6.8B FY2025

Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 43 · Market factors (momentum, volatility) 64

Profitability 10
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 58
Distance to the 52-week high (market factor)
Net Issuance 100
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Groupe Bruxelles Lambert SA reported revenue of €6.4B in FY2025 versus €6.5B in FY2021, a compound −0.3%/yr. Reported net income was −€625M in FY2025.

Growth Quality 21/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€6.4B
Latest YoY
+5.0%
Avg. growth/yr (3Y)
+1.8%
Avg. growth/yr (5Y)
+0.4%
Avg. growth/yr (25Y)
+10.0%
Revenue −0.3%/yr
FY21 €6.5B
FY22 €6.1B
FY23 €6.5B
FY24 €6.1B
FY25 €6.4B
Net income
FY21 €279M
FY22 −€585M
FY23 €1.7B
FY24 €132M
FY25 −€625M

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Cite: Fair Value Calculator (2026). "Groupe Bruxelles Lambert SA Fair Value". https://www.fairvalue-calculator.com/stock/GBLB

Peer Group

Asset Management · 963 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 52 · Below median
Fair Value upside +17% · Above median
Return on assets 1% · Below median
Net margin (TTM) -9% · Bottom 25%
Operating margin (TTM) 9% · Below median
Revenue growth 6% · Above median
Dividend yield (TTM) 6.5% · Top 25%
Debt / equity 0.59× · Higher than 75% of peers

Valuation Multiples vs Asset Management median · lower = cheaper

P/B 0.94× · Cheaper than median
P/S (TTM) 1.65× · Cheaper than 75% of peers
P/FCF 158.5× · Pricier than 75% of peers
EV/EBITDA 18.6× · Pricier than 75% of peers
PEG 0.52× · Cheaper than 75% of peers

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 56 · sector 37
FUTURE 31 · sector 6
PAST 0 · sector 26
HEALTH 71 · sector 95
DIVIDEND 100 · sector 70

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 Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

Stock Price Fair Value vs Fair Value
Fondul Proprietatea SA FP $0.0420 $0.0800 +90%
BlackRock, Inc BLK $1,036 $504.81 -51%
Blackstone Inc BX $124.56 $16.35 -87%
Investor AB INVEB kr 394.40 kr 788.80 +100%
Brookfield Corporation BN C$62.45 C$10.12 -84%
KKR & Co KKR $100.94 $44.88 -56%
AB Industrivärden INDUA kr 532.50 kr 1,065 +100%
Jio Financial Services Limited JIOFIN ₹242.98 ₹40.19 -83%
Bajaj Holdings BAJAJHLDNG ₹10,398 ₹9,202 -12%
HDFC Asset Management Company HDFCAMC ₹2,729 ₹301.41 -89%

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Frequently asked questions

Is Groupe Bruxelles Lambert SA (GBLB) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of €91.54 versus a price of €78.20, about +17% (undervalued).
What is the fair value of GBLB?
Our model-based fair value for Groupe Bruxelles Lambert SA is €91.54 (as of Aug 6, 2026), built from audited fundamentals. The current price is €78.20.
What is the quality score of GBLB?
Groupe Bruxelles Lambert SA has a Quality Score of 51/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Groupe Bruxelles Lambert SA (GBLB)?
Groupe Bruxelles Lambert SA reported trailing-twelve-month revenue of about €6.5B (latest available figure, as of Aug 6, 2026).
What is the net profit margin of GBLB?
The net profit margin of Groupe Bruxelles Lambert SA is about -10.1%, meaning it is currently running at a net loss. 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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