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Kri-Kri Milk Industry S.A (KRI) Fair Value & Analysis

Consumer Defensive · GR · Market cap €938M

KK Kri-Kri Milk Industry S.A KRI · AT
Price€29.00
Fair Value€18.87
Upside-34.9%
Quality59/100
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Expensive Growth
Solidly profitable · 11.6% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/13)
Wide moat 74/100
Evidence: High Range €9.70 – €32.96 Share as image

Fair value as of: Jul 17, 2026

From 24 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from €19.88 to €18.87 (−5.1%) since Jun 24, 2026. Share price +3.6% over the past month.

A solid business, but screening 35% overvalued on our models.

What matters now

  • The model range is unusually wide (€9.70 to €32.96). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

€30.40 €4.69 Fair Value €18.87 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range €4.69 – €30.40 · fair‑value band €9.70 – €32.96 · the €29.00 price screens above the €18.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Kri-Kri Milk Industry S.A (KRI) currently trades at €29.00, while our model-based Fair Value estimate is €18.87, implying the stock looks roughly 34.9% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Kri-Kri Milk Industry S.A generated revenue of €352M at a net margin of 11.6%. Revenue grew 35.4% year over year. It earns a return on equity of 27.5%. Net debt stands at €7.5M. Fundamentals as of Jul 17, 2026

Our scenario range runs from €9.70 (bear case) to €32.96 (bull case); at €29.00, 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 near its 52-week high and 71% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -35%, KRI screens richer 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
Growth DCF €3.94 €6.69 €11.31 80
Residual Income €5.90 €7.90 €31.41 76
Rev-Margin DCF €8.77 €18.02 €31.67 74
All 24 models by family
DCF Models
FCF DCF €4.11 €6.31 €11.88 38
Owner Earnings €5.96 €11.71 €22.19 31
5Y Revenue Exit €8.77 €17.56 €33.60 39
5Y EBITDA Exit €10.74 €21.88 €40.82 41
5Y P/E Exit €11.99 €26.20 €44.51 38
10Y Revenue Exit €6.68 €15.25 €27.15 36
10Y EBITDA Exit €8.30 €18.57 €37.56 37
10Y P/E Exit €9.10 €20.69 €40.76 35
Earnings-Based
Graham-Dodd €7.04 €47.47 €66.52 54
Lynch FV €13.91 €19.88 €25.84 50
PEG = 1.0 €13.91 €19.88 €25.84 46
EPV €9.52 €10.76 €11.80 59
Multiples
P/E Multiple €16.30 €21.73 €27.16 63
P/S Multiple €11.97 €15.96 €19.95 58
P/B Multiple €13.19 €17.59 €21.99 55
EV/EBIT €16.56 €21.95 €27.35 53
EV/EBITDA €14.70 €19.47 €24.25 54
EV/Revenue €10.85 €15.34 €19.83 43
Asset-Based
NCAV (Graham) €2.24 €3.01 €4.49 50
Growth DCF
Growth DCF €3.94 €6.69 €11.31 80
Rev-Margin DCF €8.77 €18.02 €31.67 74
Economic Profit
Residual Income €5.90 €7.90 €31.41 76
ROIC Compounder €11.21 €14.90 €19.58 72
Growth Earnings
Growth-Adj P/E €19.27 €27.53 €35.79 68

Widest divergence: Growth Earnings (€27.53) versus Asset-Based (€3.01). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €352M
Revenue growth (YoY) +35.4%
Net margin 11.6%
Return on equity 27.5%
Free cash flow €9.8M FY2025
P/E ratio 22.9
More key figures
Operating margin 19.7%
EPS (TTM) €1.24
EPS growth (YoY) +91.7%
Net debt €7.5M FY2022

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 59 · Market factors (momentum, volatility) 84

Profitability 78
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 23
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 87
Price trend over the last 3–12 months (market factor)
52W Momentum 99
Distance to the 52-week high (market factor)
Net Issuance 82
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

Kri-Kri Milk Industry S.A. produces and sells dairy products in Greece. The company offers ice creams, yogurt, milk, and other products. It also exports its products to approximately 24 countries in Europe, the Balkans, and the Middle East. The company was founded in 1954 and is headquartered in Serres, Greece.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kri-Kri Milk Industry S.A reported revenue of €329M in FY2025 versus €135M in FY2021, a compound +25.0%/yr. Reported net income was €34.1M in FY2025, compounding +26.8%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€329M
Latest YoY
+28.2%
Avg. growth/yr (3Y)
+24.1%
Avg. growth/yr (5Y)
+21.2%
Avg. growth/yr (11Y)
+14.1%
Revenue +25.0%/yr
FY21 €135M
FY22 €172M
FY23 €216M
FY24 €256M
FY25 €329M
Net income +26.8%/yr
FY21 €13.2M
FY22 €3.2M
FY23 €32.3M
FY24 €34.5M
FY25 €34.1M

KRI screens 35% overvalued. Compare with Nestlé India Limited →

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Cite: Fair Value Calculator (2026). "Kri-Kri Milk Industry S.A Fair Value". https://www.fairvalue-calculator.com/stock/KRI

Peer Group

Packaged Foods · 653 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 59 · Above median
Fair Value upside −35% · Below median
Return on equity (TTM) 27% · Top 25%
Return on assets 14% · Top 25%
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 20% · Top 25%
Revenue growth 35% · Top 25%
Debt / equity 0.08× · Higher than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 22.9× · Pricier than median
P/B 7.33× · Pricier than 75% of peers
P/S (TTM) 3.08× · Pricier than 75% of peers
P/FCF 110.3× · Pricier than 75% of peers
EV/EBITDA 19.0× · Pricier 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 0 · sector 29
FUTURE 100 · sector 19
PAST 100 · sector 27
HEALTH 96 · sector 96
DIVIDEND 0 · sector 47

VALUE 0: the price sits above our fair-value range.

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 Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is Kri-Kri Milk Industry S.A (KRI) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of €18.87 versus a price of €29.00, about −35% (overvalued).
What is the fair value of KRI?
Our model-based fair value for Kri-Kri Milk Industry S.A is €18.87 (as of Jul 17, 2026), built from audited fundamentals. The current price is €29.00.
What is the quality score of KRI?
Kri-Kri Milk Industry S.A has a Quality Score of 59/100. 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 Kri-Kri Milk Industry S.A (KRI)?
Kri-Kri Milk Industry S.A reported trailing-twelve-month revenue of about €352M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of KRI?
The net profit margin of Kri-Kri Milk Industry S.A is about 11.6%, meaning it keeps roughly 11.6% 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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