GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of GEK TERNA Holdings Real Estate Construction S.A €27.22, price €42.28, upside -35.6%, quality 32 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch GEK TERNA Holdings Real Estate Construction S.A for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range €7.86 – €47.18 · fair‑value band €17.53 – €29.22 · the €42.28 price screens above the €27.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Follow GEK TERNA Holdings Real Estate Construction in your weekly email
Every Wednesday you see whether GEK TERNA Holdings Real Estate Construction is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
GEK TERNA Holdings, Real Estate, Construction S.A., together with its subsidiaries, engages in the construction, real estate, mining, electricity, and concession businesses in Greece, the Balkans, the Middle East, Eastern Europe, the United States, and internationally.
Show more
GEK TERNA Holdings, Real Estate, Construction S.A., together with its subsidiaries, engages in the construction, real estate, mining, electricity, and concession businesses in Greece, the Balkans, the Middle East, Eastern Europe, the United States, and internationally. The company is involved in the construction of motorways, rail networks, buildings, hospitals, museums, industrial facilities, hydroelectric projects, dams, power plants, etc. for public and private sectors; and the financing, management, and commercial operation of concession projects, such as motorways and parking stations. It also develops and operates wind farms, hydroelectric projects, waste treatment and biogas production plants, and photovoltaic parks, as well as develops pumped storage and infrastructure projects. In addition, the company produces 905.3 MW of electric energy and trades in natural gas. Further, it engages in the acquisition, development, and exploitation of real estate properties, including business centers, industrial parks, entertainment parks, residential properties, hotels, etc.; production of quarry products; and exploitation of magnesite quarries. Additionally, the company operates thermal power plants with a total installed capacity of 147 MW and 435 MW in Viotia, Greece. GEK TERNA Holdings, Real Estate, Construction S.A. was formerly known as Ermis Real Estate Constructions Enterprises S.A. The company was founded in 1960 and is headquartered in Athens, Greece.
Stock analysis
GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA) currently trades at €42.28, while our model-based Fair Value estimate is €27.22, implying the stock looks roughly 55.3% overvalued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of €33.32 per share, and 1 of the 12 models we run sit above the €42.28 price.
Bear case: the Asset-Based group reads lowest at €13.10, and 11 of the 12 models stay below the price. Evidence for this calculation is medium.
Scenario range: €17.53 (bear) to €29.22 (bull), the price of €42.28 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 32/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
GEK TERNA Holdings Real Estate Construction S.A reported revenue of €3.9B in FY2025 versus €1.1B in FY2021, a compound +35.5%/yr. Reported net income was €139M in FY2025, compounding +29.2%/yr from FY2021.
Key figures
Market cap €4.7B · P/E ratio 30.4 · P/S ratio 1.10 · EPS (TTM) €1.39 · Dividend yield 0.9% · Net margin 3.6% · Return on equity 7.2% · Return on assets (EBIT) 4.1%.
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 10% below its 52-week high and 91% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at −36%, GEKTERNA screens richer than that median.
Fair Value models
Bear €17.53Fair Value €27.22Bull €29.22
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€1.02 per share) are deliberately not added.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.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+18.6%
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.
−0.7%
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.
+31.7%
Start year 2020 (pandemic). Over 10 years: +14.8% a year
Revenue growth 11 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.
+13.9%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
+42.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+41.7%
Dividend (yield on the price)0.9%
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.15% → 8%
Compare GEK TERNA Holdings Real Estate Construction S.A with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Engineering & Construction · 836 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score32 · Bottom 25%
Fair Value upside−36% · Below median
Profitability
Return on equity (TTM)7% · Above median
Return on assets2% · Below median
Net margin (TTM)4% · Above median
Operating margin (TTM)9% · Above median
Growth and dividend
Revenue growth0% · Below median
Dividend yield (TTM)0.9% · Below median
Balance sheet
Debt / equity2.83× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (TTM)30.4× · Priciest 25%
P/B2.68× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (TTM)1.37× · Pricier than median
EV/EBITDA17.2× · Priciest 25%
PEG0.67× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 28
FUTURE (revenue growth)2· sector 11
PAST (return on equity)29· sector 28
HEALTH (low debt)0· sector 94
DIVIDEND (yield)18· sector 41
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). "GEK TERNA Holdings Real Estate Construction S.A Fair Value". https://www.fairvalue-calculator.com/stock/GEKTERNA
Frequently asked questions
Is GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €27.22 versus a price of €42.28, about −36% upside (overvalued).
What is the fair value of GEKTERNA?
Our model-based fair value for GEK TERNA Holdings Real Estate Construction S.A is €27.22 (as of Sep 24, 2026), built from audited fundamentals. The current price: €42.28.
What is the quality score of GEKTERNA?
GEK TERNA Holdings Real Estate Construction S.A has a Quality Score of 32/100. 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 GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
Our model-based price target is the fair value of €27.22 (as of Sep 24, 2026) from 12 valuation models. Cautious scenario €17.53, optimistic scenario €29.22. It is a calculation from audited fundamentals, not an analyst target.
What is the GEK TERNA Holdings Real Estate Construction S.A stock forecast for 2026?
Our models put fair value at €27.22, about −36% upside versus a price of €42.28 (overvalued). Cautious scenario €17.53, optimistic scenario €29.22. The calculation is refreshed regularly with new filings.
What is the revenue of GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
GEK TERNA Holdings Real Estate Construction S.A reported trailing-twelve-month revenue of about €3.9B (latest available figure, as of Sep 24, 2026).
Does GEK TERNA Holdings Real Estate Construction S.A pay a dividend?
GEK TERNA Holdings Real Estate Construction S.A currently shows a dividend yield of about 0.89% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GEK TERNA Holdings Real Estate Construction S.A it is €27.22 per share (as of Sep 24, 2026), against a price of €42.28. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is GEK TERNA Holdings Real Estate Construction S.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, GEKTERNA trades above its calculated fair value: price €42.28, fair value €27.22, a gap of about −36% (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 GEKTERNA?
No. The price is what the market pays today (€42.28); the fair value is what the company's own numbers justify (€27.22). For GEK TERNA Holdings Real Estate Construction S.A the two are €15.06 per share apart. That gap is exactly why we show both numbers side by side.
How much is GEK TERNA Holdings Real Estate Construction S.A worth?
The market values GEK TERNA Holdings Real Estate Construction S.A at about €4.7B (market capitalisation, as of Sep 24, 2026). Per share that is €42.28; our models calculate a fair value of €27.22 per share.
What do the bullish and bearish scenarios say about GEKTERNA?
Our models span a range for GEK TERNA Holdings Real Estate Construction S.A: cautious scenario €17.53, base €27.22, optimistic €29.22 per share (as of Sep 24, 2026, price €42.28). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GEKTERNA?
GEK TERNA Holdings Real Estate Construction S.A trades at a price-to-earnings ratio of 30.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €27.22 is built from several models across several years. Other multiples: PEG 0.7, P/B 2.7, P/S 1.4, EV/EBITDA 17.2.
What is the PEG ratio of GEKTERNA?
The PEG ratio of GEK TERNA Holdings Real Estate Construction S.A is 0.67 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
Balance-sheet figures for GEK TERNA Holdings Real Estate Construction S.A (as of Sep 24, 2026): return on equity 7.2%, debt of 2.83 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is GEKTERNA from its 52-week high?
GEK TERNA Holdings Real Estate Construction S.A trades at €42.28, about 10% below its 52-week high of €47.18 and 91% above the low of €22.10 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of €27.22 is for.
Which stocks are comparable to GEK TERNA Holdings Real Estate Construction S.A?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 GEK TERNA Holdings Real Estate Construction S.A stock attractive at the current price?
The data as of Sep 24, 2026: price €42.28, calculated fair value €27.22 (−36%), Quality Score 32/100, from 12 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 GEKTERNA calculated?
We run GEK TERNA Holdings Real Estate Construction S.A through 12 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 €27.22, 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 14.1 % above its aggregate fair value. GEK TERNA Holdings Real Estate Construction S.A 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 GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
The closing price on Sep 23, 2026 was €42.28. Our model-based fair value is €27.22, about −36% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GEK TERNA Holdings Real Estate Construction S.A right now?
The price sits above even our optimistic bull case (€29.22). The favourable scenario is already priced in. Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
Key figures of GEK TERNA Holdings Real Estate Construction S.A
How large is the market capitalisation of GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
The market capitalisation of GEK TERNA Holdings Real Estate Construction S.A is €4.7B. 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 GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
The price-to-sales ratio of GEK TERNA Holdings Real Estate Construction S.A is 1.10 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
Earnings per share at GEK TERNA Holdings Real Estate Construction S.A are €1.39 (price ÷ EPS = P/E 30.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
The dividend yield of GEK TERNA Holdings Real Estate Construction S.A is 0.9% (payout 27.0%). 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 GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
The net margin of GEK TERNA Holdings Real Estate Construction S.A is 3.6% (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 GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
The return on equity (ROE) of GEK TERNA Holdings Real Estate Construction S.A is 7.2% (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 GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
On an EBIT basis the return on assets of GEK TERNA Holdings Real Estate Construction S.A is 4.1% (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 GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
The operating margin of GEK TERNA Holdings Real Estate Construction S.A is 8.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
Revenue at GEK TERNA Holdings Real Estate Construction S.A is growing +0.3% versus a year earlier (3y avg −0.7%). 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 GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA)?
Earnings per share at GEK TERNA Holdings Real Estate Construction S.A are growing +6.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA) generate?
The free cash flow of GEK TERNA Holdings Real Estate Construction S.A is −€779M (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 GEK TERNA Holdings Real Estate Construction S.A (GEKTERNA) carry?
The net debt of GEK TERNA Holdings Real Estate Construction S.A is €4.3B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch GEK TERNA Holdings Real Estate Construction S.A in the live analysis
One click puts GEK TERNA Holdings Real Estate Construction S.A on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
