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Philippos Nakas S.A (NAKAS) Fair Value & Analysis

Consumer Cyclical · GR · Market cap €21.6M

PN Philippos Nakas S.A NAKAS · AT
Price€3.34
Fair Value€2.42
Upside-27.5%
Quality63/100
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Mixed Growth
Thin margins · 6.5% net margin
Low debt
6.76% dividend yield
Mixed vs. peers (7/13)
Moderate moat 46/100
Evidence: Medium Range €1.86 – €3.36 Share as image

Fair value as of: Jul 17, 2026

From 23 valuation models · updated 24 days ago

Share price −0.6% over the past month.

A solid business, but screening 28% overvalued on our models.

What matters now

  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (€1.86 to €3.36) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€3.96 €0.5661 Fair Value €2.42 Jan 2020 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 €0.5661 – €3.96 · fair‑value band €1.86 – €3.36 · the €3.34 price screens above the €2.42 fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Philippos Nakas S.A (NAKAS) currently trades at €3.34, while our model-based Fair Value estimate is €2.42, implying the stock looks roughly 27.5% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Consumer Cyclical 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: medium).

Over the trailing twelve months, Philippos Nakas S.A generated revenue of €29.1M at a net margin of 6.5%. Revenue grew 7.2% year over year. It earns a return on equity of 10.1%. The stock trades on a trailing P/E of 41.5. Fundamentals as of Jul 17, 2026

Our scenario range runs from €1.86 (bear case) to €3.36 (bull case); at €3.34, 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 about 17% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -24% fair-value upside, at -28%, NAKAS 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 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
Highest evidence
Growth DCF €0.7600 €0.9000 €1.09 80
Residual Income €1.85 €1.83 €1.55 76
Rev-Margin DCF €1.36 €2.06 €2.85 74
All 23 models by family
DCF Models
FCF DCF €0.7500 €0.9000 €1.11 38
5Y Revenue Exit €1.36 €2.05 €2.99 39
5Y EBITDA Exit €2.05 €3.23 €4.68 41
5Y P/E Exit €1.37 €2.06 €2.83 38
10Y Revenue Exit €1.03 €1.53 €2.12 36
10Y EBITDA Exit €1.43 €2.19 €3.10 37
10Y P/E Exit €1.07 €1.53 €2.02 35
Earnings-Based
Graham-Dodd €0.8400 €1.57 €1.94 54
EPV €1.34 €1.49 €1.60 59
Dividend Discount
Gordon GGM €1.18 €1.48 €1.74 70
DDM Multi-Stage €1.18 €1.50 €1.81 61
Multiples
P/E Multiple €2.03 €2.70 €3.38 63
P/S Multiple €1.57 €2.09 €2.61 58
P/B Multiple €1.57 €2.09 €2.61 55
EV/EBIT €2.93 €3.86 €4.78 53
EV/EBITDA €3.63 €4.79 €5.95 54
EV/Revenue €2.02 €2.82 €3.63 43
Asset-Based
NCAV (Graham) €1.34 €1.80 €2.68 50
Growth DCF
Growth DCF €0.7600 €0.9000 €1.09 80
Rev-Margin DCF €1.36 €2.06 €2.85 74
Economic Profit
Residual Income €1.85 €1.83 €1.55 76
ROIC Compounder €1.34 €1.49 €1.60 72
Growth Earnings
Growth-Adj P/E €1.44 €2.06 €2.68 68

Widest divergence: Multiples (€2.70) versus Growth DCF (€0.9000). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €29.1M
Revenue growth (YoY) +7.2%
Net margin 6.5%
Return on equity 10.1%
P/E ratio 41.5
Operating margin 10.4%
More key figures
EPS (TTM) €0.0820
Dividend yield 6.8%
EPS growth (YoY) +13.5%

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

Quality Score breakdown

Overall quality 63/100

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

Profitability 37
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 80
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

Philippos Nakas S.A. distributes musical instruments in Greece. The company operates stores that offer acoustic musical instruments, including pianos, guitars, percussions, wind instruments, strings, etc.; and electronic musical instruments, such as keyboards, electric pianos, electric guitars, electric basses, guitar amplifiers, synthesizers, samplers, …

Full company description

Philippos Nakas S.A. distributes musical instruments in Greece. The company operates stores that offer acoustic musical instruments, including pianos, guitars, percussions, wind instruments, strings, etc.; and electronic musical instruments, such as keyboards, electric pianos, electric guitars, electric basses, guitar amplifiers, synthesizers, samplers, multi-effects, midi-files, etc. Its stores also provide consumer electronics-home systems comprising amplifiers, radio amplifiers, CD and DVD players, CD recorders, plasma TV, projectors, speakers, headphones, cables, and audio mounts and furniture; and professional-audiovisual systems that include mixing consoles, microphones, public address systems, intercom systems, guiding systems, conference systems, telecom systems, stands, and accessories. In addition, the company's stores offer professional lighting systems, which comprise moving heads, theater lightings, light effects for clubs, truss systems, architectural lighting system LEDs, etc.; professional computer audio products, including sound cards, sound and music software, DSP cards, interfaces and remotes, midi keyboards, etc.; and multimedia products, such as TV cards, video cards, Web cameras, PC and headphones, and DJ products for PC applications. Further, it publishes music books; and operates Keyboard Music Schools and Philippos Nakas conservatory. The company was founded in 1937 and is headquartered in Paiania, Greece.

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

Revenue & earnings trend

FY2018 – FY2022 · reported fiscal years

Philippos Nakas S.A reported revenue of €22.0M in FY2022 versus €21.2M in FY2018, a compound +1.0%/yr. Reported net income was €779K in FY2022, compounding +2.3%/yr from FY2018.

Growth Quality 49/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2022)
€22.0M
Latest YoY
+12.0%
Avg. growth/yr (3Y) 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.
+0.6%
Avg. growth/yr (5Y) 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.
+2.1%
Avg. growth/yr (7Y) 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.
+1.7%
Revenue +1.0%/yr
FY18 €21.2M
FY19 €21.7M
FY20 €20.5M
FY21 €19.7M
FY22 €22.0M
Net income +2.3%/yr
FY18 €711K
FY19 €740K
FY20 €530K
FY21 €1.0M
FY22 €779K

NAKAS screens 28% overvalued. Compare with Casey's General Stores, Inc →

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Cite: Fair Value Calculator (2026). "Philippos Nakas S.A Fair Value". https://www.fairvalue-calculator.com/stock/NAKAS

Peer Group

Specialty Retail · 221 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 63 · Above median
Fair Value upside −28% · Below median
Return on equity (TTM) 10% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 6% · Top 25%
Operating margin (TTM) 10% · Top 25%
Revenue growth 7% · Above median
Dividend yield (TTM) 6.8% · Top 25%
Debt / equity 0.21× · Higher than median

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/E (TTM) 41.5× · Pricier than 75% of peers
P/B 1.47× · Pricier than median
P/S (TTM) 0.86× · Pricier than 75% of peers
EV/EBITDA 8.3× · Pricier than median

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 36 · sector 23
PAST 40 · sector 27
HEALTH 90 · sector 94
DIVIDEND 100 · sector 51

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

Stock Price Fair Value vs Fair Value
Casey's General Stores, Inc CASY $827.04 $405.44 -51%
Williams-Sonoma, Inc WSM $222.84 $164.16 -26%
Ulta Beauty, Inc ULTA $479.57 $488.39 +2%
DICK'S Sporting Goods, Inc DKS $208.89 $181.10 -13%
Best Buy Co BBY $83.98 $109.12 +30%
China Tourism Group 601888 ¥52.90 ¥40.40 -24%
Tractor Supply Company TSCO $31.01 $35.52 +15%
Murphy USA Inc MUSA $618.57 $423.35 -32%
Five Below, Inc FIVE $197.71 $117.29 -41%
Taiwan Mobile Co 3045 110.50 TWD 80.98 TWD -27%

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Frequently asked questions

Is Philippos Nakas S.A (NAKAS) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of €2.42 versus a price of €3.34, about −28% (overvalued).
What is the fair value of NAKAS?
Our model-based fair value for Philippos Nakas S.A is €2.42 (as of Jul 17, 2026), built from audited fundamentals. The current price is €3.34.
What is the quality score of NAKAS?
Philippos Nakas S.A has a Quality Score of 63/100. 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 Philippos Nakas S.A (NAKAS)?
Philippos Nakas S.A reported trailing-twelve-month revenue of about €29.1M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of NAKAS?
The net profit margin of Philippos Nakas S.A is about 6.5%, meaning it keeps roughly 6.5% of revenue as net income. Based on the latest reported figures.
Does Philippos Nakas S.A pay a dividend?
Philippos Nakas S.A currently shows a dividend yield of about 6.76% relative to its recent price (as of Jul 17, 2026).

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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