Euronext Athens Holding (HEHSF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Euronext Athens Holding $8.13, price $10.53, upside -22.8%, quality 74 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Euronext Athens Holding
HEHSF · USOvervalued / MonitorQuality is not strong enough to offset the price risk.
What runs behind every stock
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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 24, 2026.
How to read this chart
60‑month range $2.50 – $10.53 · fair‑value band $6.09 – $15.41 · the $10.53 price screens above the $8.13 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Euronext Athens Holding S.A. provides support services for the operation of the Greek capital market. The company operates through Trading, Post trading, Listing, Data Services, IT and digital services, and Ancillary services segments.
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Euronext Athens Holding S.A. provides support services for the operation of the Greek capital market. The company operates through Trading, Post trading, Listing, Data Services, IT and digital services, and Ancillary services segments. It provides clearing, settlement, and registry services; cross-border trades; initial public offers (IPOs) and corporate actions related services; data services, including information on the cash, bond, and derivatives market; and support services for other markets, such as the energy exchange group, education, rents, and event organization services. In addition, the company operates the infrastructure for various markets, including stocks, bonds, exchange-traded funds, and derivatives; and multilateral trading facility (MTF) for smaller companies. Further, it offers a clearing platform; information technology systems and infrastructure for trading, clearing, settlement, and registry; and technological and consulting solutions. Additionally, the company engages in activities relating to the provision of central securities depository services, as well as operate as a system administrator in the Athens Exchange Clearing House. The company was formerly known as Hellenic Exchanges - Athens Stock Exchange S.A. and changed its name to Euronext Athens Holding S.A. in April 2026. The company was founded in 1876 and is headquartered in Athens, Greece. Euronext Athens Holding S.A. operates as a subsidiary of Euronext N.V.
Stock analysis
Euronext Athens Holding (HEHSF) currently trades at $10.53, while our model-based Fair Value estimate is $8.13, 22.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $12.10 per share, and 5 of the 13 models we run sit above the $10.53 price.
Bear case: the Asset-Based group reads lowest at $1.69, and 8 of the 13 models stay below the price. Evidence for this calculation is high.
Scenario range: $6.09 (bear) to $15.41 (bull), the price of $10.53 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 74/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Euronext Athens Holding reported revenue of €85.8M in FY2025 versus €35.8M in FY2021, a compound +24.4%/yr. Reported net income was €31.6M in FY2025, compounding +40.1%/yr from FY2021.
Key figures
Market cap $535M · P/E ratio 16.7 · P/S ratio 6.15 · EPS (TTM) $0.6300 · Dividend yield 1.0% · Net margin 36.8% · Return on equity 26.4% · Return on assets (EBIT) 3.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 54% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −25% fair-value upside, at −23%, HEHSF screens cheaper than that median.
Fair Value models
All 13 models by family
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Set up alert →Quality Score breakdown
Of which business quality 70 · Market factors (momentum, volatility) 75
Revenue & earnings trend
Growth Forecast
HEHSF screens overvalued: fair value 23% below the price. Compare with S&P Global Inc →
Compare Euronext Athens Holding with another stock
Price, fair value, quality and upside side by side.
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.Financial Data & Stock Exchanges · 52 stocks
Valuation Multiplesvs Financial Data & Stock Exchanges median · lower = cheaper
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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| Deutsche Börse AG DB1 | €287.30 | €226.86 | −21% |
| Coinbase Global, Inc COIN | $189.29 | $185.08 | −2% |
| Nasdaq, Inc NDAQ | $91.85 | $41.61 | −55% |
| MSCI Inc MSCI | $539.76 | $262.25 | −51% |
| Cboe Global Markets, Inc CBOE | $253.26 | $247.55 | −2% |
| Hithink RoyalFlush Information Network Co 300033 | ¥204.10 | ¥135.82 | −33% |
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Frequently asked questions
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Key figures of Euronext Athens Holding
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