LAMDA Development S.A. (LAMDA) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of LAMDA Development S.A. €5.62, price €6.19, upside -9.1%, quality 37 out of 100. Calculated from audited financials with 26 valuation models and 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 23, 2026.
How to read this chart
60‑month range €5.16 – €8.43 · fair‑value band €5.57 – €5.62 · the €6.19 price screens above the €5.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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LAMDA Development S.A., together with its subsidiaries, engages in the investment, development, and project management in commercial real estate market in Greece, Serbia, Romania, and Montenegro.
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LAMDA Development S.A., together with its subsidiaries, engages in the investment, development, and project management in commercial real estate market in Greece, Serbia, Romania, and Montenegro. Its development portfolio includes three shopping and leisure centers, including the Mall Athens and Golden Hall in Athens, as well as Mediterranean Cosmos in Thessaloniki; office complex in Greece and Romania; and Flisvos Marina in Faliro, as well as the metropolitan redevelopment of Hellinikon Airport area. The company was founded in 1977 and is based in Marousi, Greece.
Stock analysis
LAMDA Development S.A. (LAMDA) currently trades at €6.19, while our model-based Fair Value estimate is €5.62, implying the stock looks roughly 10.1% fairly valued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of €5.95 per share, and 2 of the 7 models we run sit above the €6.19 price.
Bear case: the Multiples group reads lowest at €5.10, and 5 of the 7 models stay below the price. Evidence for this calculation is medium.
Scenario range: €5.57 (bear) to €5.62 (bull), the price of €6.19 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 37/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
LAMDA Development S.A. reported revenue of €567M in FY2025 versus €79.7M in FY2021, a compound +63.3%/yr. Reported net income was €90.5M in FY2025, compounding −17.1%/yr from FY2021.
Key figures
Market cap €1.1B · P/E ratio 11.7 · P/S ratio 1.86 · EPS (TTM) €0.5300 · Net margin 16.0% · Return on equity 7.2% · Return on assets (EBIT) 2.0% · Operating margin −16.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (medium confidence).
What moves the price
The share trades about 21% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −3% fair-value upside, at −9%, LAMDA screens richer than that median.
Fair Value models
Bear €5.57Fair Value €5.62Bull €5.62
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 (€0.3877 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.51/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−11.9%
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.
+58.8%
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.
+52.9%
Start year 2020 (pandemic). Over 10 years: +31.8% 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.
+26.5%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+19.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.4%
Dividend (yield on the price)0.0%
Profit margin 2019 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.51% → 13%
2025 sits 152% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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.Real Estate - Development · 579 stocks
Beats the industry median on 2/12 measures
Overall it trails its industry peers.
Valuation
Quality Score38 · Bottom 25%
Fair Value upside−11% · Below median
Profitability
Return on equity (TTM)7% · Above median
Return on assets1% · Below median
Net margin (TTM)16% · Above median
Operating margin (TTM)−16% · Bottom 25%
Growth and dividend
Revenue growth−57% · Bottom 25%
Balance sheet
Debt / equity1.10× · Highest 25%
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
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). "LAMDA Development S.A. Fair Value". https://www.fairvalue-calculator.com/stock/LAMDA
Frequently asked questions
Is LAMDA Development S.A. (LAMDA) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €5.62 versus a price of €6.19, about −9% upside (fairly valued).
What is the fair value of LAMDA?
Our model-based fair value for LAMDA Development S.A. is €5.62 (as of Sep 23, 2026), built from audited fundamentals. The current price: €6.19.
What is the quality score of LAMDA?
LAMDA Development S.A. has a Quality Score of 37/100. 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 LAMDA Development S.A. (LAMDA)?
Our model-based price target is the fair value of €5.62 (as of Sep 23, 2026) from 7 valuation models. Cautious scenario €5.57, optimistic scenario €5.62. It is a calculation from audited fundamentals, not an analyst target.
What is the LAMDA Development S.A. stock forecast for 2026?
Our models put fair value at €5.62, about −9% upside versus a price of €6.19 (fairly valued). Cautious scenario €5.57, optimistic scenario €5.62. The calculation is refreshed regularly with new filings.
What is the revenue of LAMDA Development S.A. (LAMDA)?
LAMDA Development S.A. reported trailing-twelve-month revenue of about €565M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of LAMDA Development S.A. (LAMDA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For LAMDA Development S.A. it is €5.62 per share (as of Sep 23, 2026), against a price of €6.19. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is LAMDA Development S.A. stock overvalued or undervalued in 2026?
As of Sep 23, 2026, LAMDA trades above its calculated fair value: price €6.19, fair value €5.62, a gap of about −9% (fairly valued). 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 LAMDA?
No. The price is what the market pays today (€6.19); the fair value is what the company's own numbers justify (€5.62). For LAMDA Development S.A. the two are €0.5650 per share apart. That gap is exactly why we show both numbers side by side.
How much is LAMDA Development S.A. worth?
The market values LAMDA Development S.A. at about €1.1B (market capitalisation, as of Sep 23, 2026). Per share that is €6.19; our models calculate a fair value of €5.62 per share.
What do the bullish and bearish scenarios say about LAMDA?
Our models span a range for LAMDA Development S.A.: cautious scenario €5.57, base €5.62, optimistic €5.62 per share (as of Sep 23, 2026, price €6.19). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LAMDA?
LAMDA Development S.A. trades at a price-to-earnings ratio of 11.7 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €5.62 is built from several models across several years. Other multiples: P/B 0.9, P/S 2.2, EV/EBITDA 25.6.
How solid is the balance sheet of LAMDA Development S.A. (LAMDA)?
Balance-sheet figures for LAMDA Development S.A. (as of Sep 23, 2026): return on equity 7.2%, debt of 1.10 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is LAMDA from its 52-week high?
LAMDA Development S.A. trades at €6.19, about 21% below its 52-week high of €7.83 and 5% above the low of €5.88 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of €5.62 is for.
Which stocks are comparable to LAMDA Development S.A.?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, CK Asset Holdings, Hongkong Land Holdings, DLF 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 LAMDA Development S.A. stock attractive at the current price?
The data as of Sep 23, 2026: price €6.19, calculated fair value €5.62 (−9%), Quality Score 37/100, from 7 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 LAMDA calculated?
We run LAMDA Development S.A. through 7 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 €5.62, 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. LAMDA Development 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 LAMDA Development S.A. (LAMDA)?
The closing price on Sep 23, 2026 was €6.19. Our model-based fair value is €5.62, about −9% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with LAMDA Development S.A. right now?
The price sits above even our optimistic bull case (€5.62). The favourable scenario is already priced in. The price sits close to our fair value, market and models broadly agree here, little valuation tension. The models converge in a tight band (€5.57 to €5.62), unusually little disagreement for a valuation. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of LAMDA Development S.A.
How large is the market capitalisation of LAMDA Development S.A. (LAMDA)?
The market capitalisation of LAMDA Development S.A. is €1.1B. 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 LAMDA Development S.A. (LAMDA)?
The price-to-sales ratio of LAMDA Development S.A. is 1.86 (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 LAMDA Development S.A. (LAMDA)?
Earnings per share at LAMDA Development S.A. are €0.5300 (price ÷ EPS = P/E 11.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of LAMDA Development S.A. (LAMDA)?
The net margin of LAMDA Development S.A. is 16.0% (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 LAMDA Development S.A. (LAMDA)?
The return on equity (ROE) of LAMDA Development 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 LAMDA Development S.A. (LAMDA)?
On an EBIT basis the return on assets of LAMDA Development S.A. is 2.0% (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 LAMDA Development S.A. (LAMDA)?
The operating margin of LAMDA Development S.A. is −16.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at LAMDA Development S.A. (LAMDA)?
Revenue at LAMDA Development S.A. is growing −57.4% versus a year earlier (3y avg +58.8%). 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 LAMDA Development S.A. (LAMDA)?
Earnings per share at LAMDA Development S.A. are growing +76.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does LAMDA Development S.A. (LAMDA) generate?
The free cash flow of LAMDA Development S.A. is −€86.0M (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 LAMDA Development S.A. (LAMDA) carry?
The net debt of LAMDA Development S.A. is €712M (fiscal year 2025). 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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