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naturenergie holding AG (NEAG) Fair Value & Analysis

Utilities · CH · Market cap CHF 1.0B

NH naturenergie holding AG NEAG · SW
PriceCHF 30.40
Fair ValueCHF 35.21
Upside+15.8%
Quality58/100
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Mixed Growth
Solidly profitable · 11.8% net margin
Low debt · generates free cash flow
3.14% dividend yield
Ranks above peers (12/14)
Moderate moat 59/100
Evidence: High Range CHF 21.27 – CHF 58.19 Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from CHF 69.32 to CHF 35.21 (−49.2%) since Jun 25, 2026. Share price −2.3% over the past month.

A solid business, screening 16% undervalued on our models.

What matters now

  • The model range is unusually wide (CHF 21.27 to CHF 58.19). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Our model range runs from CHF 21.27 (bear) to CHF 58.19 (bull), base CHF 35.21. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 58/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

CHF 43.84 CHF 26.06 Fair Value CHF 35.21 Jan 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range CHF 26.06 – CHF 43.84 · fair‑value band CHF 21.27 – CHF 58.19 · the CHF 30.40 price screens below the CHF 35.21 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

naturenergie holding AG (NEAG) currently trades at CHF 30.40, while our model-based Fair Value estimate is CHF 35.21, implying the stock looks roughly 15.8% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Utilities sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, naturenergie holding AG generated revenue of CHF 1.6B at a net margin of 11.8%. Revenue declined 11.0% year over year. It earns a return on equity of 14.7%. The balance sheet holds a net cash position of CHF 99.7M. Fundamentals as of Jul 16, 2026

Our scenario range runs from CHF 21.27 (bear case) to CHF 58.19 (bull case); at CHF 30.40, 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 11% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -30% fair-value upside, at 16%, NEAG screens cheaper 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 CHF 21.82 CHF 28.30 CHF 36.22 80
Residual Income CHF 36.95 CHF 44.16 CHF 90.51 76
Rev-Margin DCF CHF 43.72 CHF 71.37 CHF 101.95 74
All 26 models by family
DCF Models
FCF DCF CHF 21.62 CHF 28.95 CHF 38.42 38
Owner Earnings CHF 26.02 CHF 35.12 CHF 46.90 31
5Y Revenue Exit CHF 43.72 CHF 71.75 CHF 107.48 39
5Y EBITDA Exit CHF 43.85 CHF 71.99 CHF 104.44 41
5Y P/E Exit CHF 50.60 CHF 84.34 CHF 119.18 38
10Y Revenue Exit CHF 32.73 CHF 54.54 CHF 83.51 36
10Y EBITDA Exit CHF 34.27 CHF 54.69 CHF 81.43 37
10Y P/E Exit CHF 38.17 CHF 62.43 CHF 91.50 35
Earnings-Based
Graham-Dodd CHF 38.38 CHF 107.16 CHF 140.89 54
Lynch FV CHF 21.57 CHF 30.81 CHF 40.06 50
PEG = 1.0 CHF 21.57 CHF 30.81 CHF 40.06 46
EPV CHF 48.05 CHF 54.12 CHF 59.19 59
Dividend Discount
Gordon GGM CHF 7.48 CHF 13.48 CHF 18.56 70
DDM Multi-Stage CHF 7.48 CHF 11.13 CHF 14.41 61
Multiples
P/E Multiple CHF 76.19 CHF 101.58 CHF 126.98 63
P/S Multiple CHF 71.95 CHF 95.94 CHF 119.92 58
P/B Multiple CHF 54.61 CHF 72.81 CHF 91.02 55
EV/EBIT CHF 76.17 CHF 100.40 CHF 124.63 53
EV/EBITDA CHF 66.73 CHF 87.81 CHF 108.90 54
EV/Revenue CHF 62.28 CHF 87.48 CHF 112.68 43
Asset-Based
NCAV (Graham) CHF 20.23 CHF 27.10 CHF 40.45 50
Growth DCF
Growth DCF CHF 21.82 CHF 28.30 CHF 36.22 80
Rev-Margin DCF CHF 43.72 CHF 71.37 CHF 101.95 74
Economic Profit
Residual Income CHF 36.95 CHF 44.16 CHF 90.51 76
ROIC Compounder CHF 49.25 CHF 58.29 CHF 68.24 72
Growth Earnings
Growth-Adj P/E CHF 61.68 CHF 88.12 CHF 114.55 68

Widest divergence: Growth Earnings (CHF 88.12) versus Dividend Discount (CHF 11.13). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) CHF 1.6B
Revenue growth (YoY) -11.0%
Net margin 11.8%
Return on equity 14.7%
Free cash flow CHF 65.6M FY2025
P/E ratio 5.9
More key figures
Operating margin 16.3%
EPS (TTM) CHF 5.21
Dividend yield 3.1%
EPS growth (YoY) +15.0%
Net cash CHF 99.7M FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 58 · Market factors (momentum, volatility) 47

Profitability 54
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 51
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 81
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

naturenergie holding AG, through its subsidiaries, engages in the production, distribution, and sale of electricity under the Naturenergie brand in Switzerland and internationally. It operates through three segments: Customer-Oriented Energy Solutions, System-Relevant Infrastructure, and Renewable Generation Infrastructure.

Full company description

naturenergie holding AG, through its subsidiaries, engages in the production, distribution, and sale of electricity under the Naturenergie brand in Switzerland and internationally. It operates through three segments: Customer-Oriented Energy Solutions, System-Relevant Infrastructure, and Renewable Generation Infrastructure. The company generates electricity from hydropower, hydrogen, and photovoltaics sources. It also provides products and services in the areas of electricity, gas, heat, housing, photovoltaics and mobility for private and business customers; car sharing; and system and energy solutions for companies, such as heat pumps, combined heat and power plants, photovoltaic systems, battery storage systems, and charging stations for electric cars. In addition, the company offers solar solutions; PV contracting solutions; and e-car sharing solutions. Further, it is involved in the provision of construction, operation, and maintenance services; and electrical installations for single-family homes and apartment buildings, commercial buildings, and modern industrial plants. The company was formerly known as Energiedienst Holding AG and changed its name to naturenergie holding AG in May 2024. The company was founded in 1894 and is headquartered in Laufenburg, Switzerland. naturenergie holding AG is a subsidiary of EnBW Energie Baden-Württemberg AG.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

naturenergie holding AG reported revenue of CHF 1.6B in FY2025 versus CHF 1.1B in FY2021, a compound +8.5%/yr. Reported net income was CHF 187M in FY2025, compounding +22.0%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
CHF 1.6B
Latest YoY
−8.8%
Avg. growth/yr (3Y)
+1.2%
Avg. growth/yr (5Y)
+8.5%
Avg. growth/yr (22Y)
+6.5%
Revenue +8.5%/yr
FY21 CHF 1.1B
FY22 CHF 1.5B
FY23 CHF 2.0B
FY24 CHF 1.7B
FY25 CHF 1.6B
Net income +22.0%/yr
FY21 CHF 84.4M
FY22 CHF 99.1M
FY23 CHF 107M
FY24 CHF 179M
FY25 CHF 187M

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Cite: Fair Value Calculator (2026). "naturenergie holding AG Fair Value". https://www.fairvalue-calculator.com/stock/NEAG

Peer Group

Utilities - Renewable · 220 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 58 · Top 25%
Fair Value upside +16% · Above median
Return on equity (TTM) 15% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 12% · Above median
Operating margin (TTM) 16% · Above median
Revenue growth -11% · Below median
Dividend yield (TTM) 3.1% · Above median
Debt / equity 0.07× · Lower than 75% of peers

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/E (TTM) 5.9× · Cheaper than 75% of peers
P/B 0.94× · Cheaper than median
P/S (TTM) 0.80× · Cheaper than median
P/FCF 19.2× · Pricier than 75% of peers
EV/EBITDA 4.1× · Cheaper 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 54 · sector 15
FUTURE 0 · sector 0
PAST 59 · sector 12
HEALTH 96 · sector 68
DIVIDEND 63 · sector 48

Insider activity: 40/100

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 Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥27.99 ¥25.13 -10%
Ørsted A/S ORSTED kr 149.70 kr 31.40 -79%
Huaneng Lancang River Hydropower Inc 600025 ¥9.81 ¥5.57 -43%
Adani Green Energy Limited ADANIGREEN ₹1,537 ₹170.50 -89%
AXIA Energia SA AXIAP $10.74 $9.65 -10%
VERBUND AG OEWA €58.65 €66.19 +13%
BEP BEP $32.33 $73.35 +127%
BEPUN BEPUN C$44.56 C$10.15 -77%
Fortum Oyj FORTUM €19.89 €13.90 -30%
China Longyuan Power Group 001289 ¥16.21 ¥8.23 -49%

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Frequently asked questions

Is naturenergie holding AG (NEAG) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of CHF 35.21 versus a price of CHF 30.40, about +16% (undervalued).
What is the fair value of NEAG?
Our model-based fair value for naturenergie holding AG is CHF 35.21 (as of Jul 16, 2026), built from audited fundamentals. The current price is CHF 30.40.
What is the quality score of NEAG?
naturenergie holding AG has a Quality Score of 58/100. 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 naturenergie holding AG (NEAG)?
naturenergie holding AG reported trailing-twelve-month revenue of about CHF 1.6B (latest available figure, as of Jul 16, 2026).
What is the net profit margin of NEAG?
The net profit margin of naturenergie holding AG is about 11.8%, meaning it keeps roughly 11.8% of revenue as net income. Based on the latest reported figures.
Does naturenergie holding AG pay a dividend?
naturenergie holding AG currently shows a dividend yield of about 2.97% relative to its recent price (as of Jul 16, 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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