Matas A/S (MATAS) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Matas A/S DKK 144, price DKK 84.50, upside +70.3%, quality 52 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 24, 2026.
How to read this chart
60‑month range kr 60.80 – kr 150.21 · fair‑value band kr 89.66 – kr 179.92 · the kr 84.50 price screens below the kr 143.94 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Matas A/S operates a chain of retail stores that offer beauty, personal care, health and wellbeing, and household products in Denmark, Sweden, Norway, and internationally. Its products include cosmetics, fragrances, and skin and hair care products.
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Matas A/S operates a chain of retail stores that offer beauty, personal care, health and wellbeing, and household products in Denmark, Sweden, Norway, and internationally. Its products include cosmetics, fragrances, and skin and hair care products. The company also offers medicine and nursing products; vitamins, minerals, health supplements, specialty foods, and herbal medicinal products, as well as sports, nutrition, and exercise; mother and child care; sexual wellness; and oral, foot, intimate care, hair removal, and special skincare products. In addition, it provides house and garden products, including cleaning and maintenance, electrical products, interior decoration, and textiles; and clothing and accessories, such as footwear, hair ornaments, jewelry, and toilet bags. It operates through physical stores, wholesale, and websites, such as matas.dk. Matas A/S was founded in 1949 and is based in Allerød, Denmark.
Stock analysis
Matas A/S (MATAS) currently trades at kr 84.50, while our model-based Fair Value estimate is kr 143.94, implying the stock looks roughly 41.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 172.26 per share, and 18 of the 26 models we run sit above the kr 84.50 price.
Bear case: the Dividend Discount group reads lowest at kr 26.17, and 8 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 89.66 (bear) to kr 179.92 (bull), the price of kr 84.50 sits below 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 52/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Matas A/S reported revenue of 8.8B DKK in FY2026 versus 4.3B DKK in FY2022, a compound +19.2%/yr. Reported net income was 243M DKK in FY2026, compounding −3.2%/yr from FY2022.
Key figures
Market cap 3.2B DKK (≈ $488M) · P/E ratio 13.2 · P/S ratio 0.37 · EPS (TTM) kr 6.41 · Dividend yield 2.4% · Net margin 2.8% · Return on equity 6.5% · Return on assets (EBIT) 6.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 4% fair-value upside, at 70%, MATAS screens cheaper than that median.
Fair Value models
Bear kr 89.66Fair Value kr 143.94Bull kr 179.92
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 2026 figures (about 6 months old). Earnings retained since then (kr 2.15 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.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.7%
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.
+25.0%
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.
+16.1%
Start year 2021 (pandemic). Over 10 years: +9.9% a year
Revenue growth 16 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.
+7.1%
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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.
+0.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.6%
Dividend (yield on the price)2.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−2% vs −3%, steady
Profit margin 2021 to 2026 ⓘ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.9% → 6%
Start year 2021 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−1.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (Denmark: IMF forecast 2.1% a year to 2030, 2.0% from 2016 to 2025) that is about −3.9% a year for the price and +2.4% for the forecasts.
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.Specialty Retail · 229 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+70% · Top 25%
Profitability
Return on equity (TTM)7% · Below median
Return on assets4% · Above median
Net margin (TTM)3% · Above median
Operating margin (TTM)2% · Below median
Growth and dividend
Revenue growth6% · Above median
Dividend yield (TTM)2.4% · Below median
Balance sheet
Debt / equity0.72× · Highest 25%
Valuation Multiplesvs Specialty Retail median · lower = cheaper
P/E (TTM)13.2× · Cheaper than median
P/B0.85× · 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.
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). "Matas A/S Fair Value". https://www.fairvalue-calculator.com/stock/MATAS
Frequently asked questions
Is Matas A/S (MATAS) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 143.94 versus a price of kr 84.50, about +70% upside (undervalued).
What is the fair value of MATAS?
Our model-based fair value for Matas A/S is kr 143.94 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 84.50.
What is the quality score of MATAS?
Matas A/S has a Quality Score of 52/100. 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 Matas A/S (MATAS)?
Our model-based price target is the fair value of kr 143.94 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario kr 89.66, optimistic scenario kr 179.92. It is a calculation from audited fundamentals, not an analyst target.
What is the Matas A/S stock forecast for 2026?
Our models put fair value at kr 143.94, about +70% upside versus a price of kr 84.50 (undervalued). Cautious scenario kr 89.66, optimistic scenario kr 179.92. The calculation is refreshed regularly with new filings.
What is the revenue of Matas A/S (MATAS)?
Matas A/S reported trailing-twelve-month revenue of about 8.8B DKK (latest available figure, as of Sep 24, 2026).
Does Matas A/S pay a dividend?
Matas A/S currently shows a dividend yield of about 2.37% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Matas A/S (MATAS)?
For today's price to be fair in a discounted-cash-flow model, Matas A/S would have to grow free cash flow by -1.9 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of MATAS use?
Our models discount Matas A/S at 10.4 %: a base by market capitalisation (small), damped by beta 0.78, country premium for Denmark. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Matas A/S that is -1.9 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Matas A/S (MATAS) delivered so far?
Over the past 5 years revenue at Matas A/S grew +16.1 % a year. The price currently implies -1.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Matas A/S (MATAS) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Matas A/S (-1.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Matas A/S (MATAS)?
The free-cash-flow yield on the price is 18.95 %: that much free cash flow Matas A/S produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Matas A/S (MATAS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Matas A/S it is kr 143.94 per share (as of Sep 24, 2026), against a price of kr 84.50. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Matas A/S stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MATAS trades below its calculated fair value: price kr 84.50, fair value kr 143.94, a gap of about +70% (undervalued). 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 MATAS?
No. The price is what the market pays today (kr 84.50); the fair value is what the company's own numbers justify (kr 143.94). For Matas A/S the two are kr 59.44 per share apart. That gap is exactly why we show both numbers side by side.
How much is Matas A/S worth?
The market values Matas A/S at about 3.2B DKK (market capitalisation, as of Sep 24, 2026). Per share that is kr 84.50; our models calculate a fair value of kr 143.94 per share.
What do the bullish and bearish scenarios say about MATAS?
Our models span a range for Matas A/S: cautious scenario kr 89.66, base kr 143.94, optimistic kr 179.92 per share (as of Sep 24, 2026, price kr 84.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MATAS?
Matas A/S trades at a price-to-earnings ratio of 13.2 (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 kr 143.94 is built from several models across several years. Other multiples: P/B 0.9, P/S 0.4, EV/EBITDA 7.9.
How solid is the balance sheet of Matas A/S (MATAS)?
Balance-sheet figures for Matas A/S (as of Sep 24, 2026): return on equity 6.5%, debt of 0.72 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is MATAS from its 52-week high?
Matas A/S trades at kr 84.50, about 35% below its 52-week high of kr 130.74 and 1% above the low of kr 84.00 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 143.94 is for.
Which stocks are comparable to Matas A/S?
From the same area (Consumer Cyclical) we also value Alimentation Couche-Tard Inc, Casey's General Stores, Inc, Williams-Sonoma, Inc, Ulta Beauty, Inc, 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 Matas A/S stock attractive at the current price?
The data as of Sep 24, 2026: price kr 84.50, calculated fair value kr 143.94 (+70%), Quality Score 52/100, from 26 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 MATAS calculated?
We run Matas A/S through 26 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 kr 143.94, 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 14.0 % above its aggregate fair value. Matas A/S currently trades 70 % below its own fair value, and the market average says nothing about that. 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 Matas A/S (MATAS)?
The closing price on Sep 24, 2026 was kr 84.50. Our model-based fair value is kr 143.94, about +70% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Matas A/S right now?
The price is below even our cautious bear case (kr 89.66). The market is more pessimistic than our downside scenario. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (kr 89.66 to kr 179.92) leaves room in how you read the outcome.
Where does the earnings growth of Matas A/S (MATAS) come from?
Earnings per share at Matas A/S grew −4.0 % a year from 2015 to 2026. Broken into its drivers: revenue per share +10.3 %, EBIT margin −8.2 %, tax rate −0.8 %, residual (interest, one-offs) −4.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Matas A/S
How large is the market capitalisation of Matas A/S (MATAS)?
The market capitalisation of Matas A/S is 3.2B DKK (≈ $488M). 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 Matas A/S (MATAS)?
The price-to-sales ratio of Matas A/S is 0.37 (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 Matas A/S (MATAS)?
Earnings per share at Matas A/S are kr 6.41 (price ÷ EPS = P/E 13.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Matas A/S (MATAS)?
The dividend yield of Matas A/S is 2.4% (payout 31.2%). 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 Matas A/S (MATAS)?
The net margin of Matas A/S is 2.8% (fiscal year 2026). 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 Matas A/S (MATAS)?
The return on equity (ROE) of Matas A/S is 6.5% (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 Matas A/S (MATAS)?
On an EBIT basis the return on assets of Matas A/S is 6.1% (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 Matas A/S (MATAS)?
The operating margin of Matas A/S is 2.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Matas A/S (MATAS)?
Revenue at Matas A/S is growing +5.5% versus a year earlier (3y avg +25.0%). 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 Matas A/S (MATAS)?
Earnings per share at Matas A/S are growing −6.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Matas A/S (MATAS) carry?
The net debt of Matas A/S is 4.0B DKK (fiscal year 2026, ≈ 6.7 yrs of FCF). 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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