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VERBUND AG (OEWA) Fair Value & Analysis

Utilities · DE · Market cap €20.4B

VA VERBUND AG OEWA · XETRA
Price€58.55
Fair Value€66.19
Upside+13.1%
Quality53/100
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Mixed Growth
Solidly profitable · 17.8% net margin
Low debt · generates free cash flow
3.42% dividend yield
Moderate moat 62/100
Evidence: Medium Range €31.09 – €88.10 Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 19 days ago

Fair value updated Jul 19, 2026, revised from €61.95 to €66.19 (+6.8%) since Jul 5, 2026. Share price +2.9% over the past month.

A solid business, screening 13% undervalued on our models.

What matters now

  • The model range is unusually wide (€31.09 to €88.10). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Our model range runs from €31.09 (bear) to €88.10 (bull), base €66.19. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 53/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

€93.51 €53.86 Fair Value €66.19 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range €53.86 – €93.51 · fair‑value band €31.09 – €88.10 · the €58.55 price screens below the €66.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

VERBUND AG (OEWA) currently trades at €58.55, while our model-based Fair Value estimate is €66.19, implying the stock looks roughly 13.1% undervalued today. We read business quality at 53/100 (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: medium), always confirm before acting.

Over the trailing twelve months, VERBUND AG generated revenue of €7.7B at a net margin of 17.8%. Revenue declined 15.5% year over year. It earns a return on equity of 13.5%. Net debt stands at €2.4B. Fundamentals as of Jul 19, 2026

Our scenario range runs from €31.09 (bear case) to €88.10 (bull case); at €58.55, 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 12% below its 52-week high and 8% 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 13%, OEWA 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 €13.84 €22.71 €35.44 80
Residual Income €29.35 €36.16 €72.03 76
Rev-Margin DCF €26.90 €49.11 €74.45 74
All 26 models by family
DCF Models
FCF DCF €13.53 €23.56 €38.86 38
Owner Earnings €19.93 €33.53 €54.28 31
5Y Revenue Exit €26.90 €49.50 €78.72 39
5Y EBITDA Exit €45.95 €85.14 €131.35 41
5Y P/E Exit €39.11 €72.35 €107.48 38
10Y Revenue Exit €20.65 €40.16 €66.95 36
10Y EBITDA Exit €34.03 €64.91 €107.13 37
10Y P/E Exit €29.67 €56.03 €88.91 35
Earnings-Based
Graham-Dodd €29.15 €90.79 €120.76 54
Lynch FV €19.75 €28.21 €36.67 50
PEG = 1.0 €19.75 €28.21 €36.67 46
EPV €41.15 €48.75 €55.40 59
Dividend Discount
Gordon GGM €25.71 €53.45 €84.80 70
DDM Multi-Stage €25.71 €42.52 €56.10 61
Multiples
P/E Multiple €64.31 €85.74 €107.18 63
P/S Multiple €43.25 €57.67 €72.08 58
P/B Multiple €54.66 €72.88 €91.10 55
EV/EBIT €76.61 €103.63 €130.65 53
EV/EBITDA €71.63 €97.00 €122.36 54
EV/Revenue €35.91 €53.21 €70.51 43
Asset-Based
NCAV (Graham) €14.88 €19.94 €29.77 50
Growth DCF
Growth DCF €13.84 €22.71 €35.44 80
Rev-Margin DCF €26.90 €49.11 €74.45 74
Economic Profit
Residual Income €29.35 €36.16 €72.03 76
ROIC Compounder €43.61 €56.78 €72.93 72
Growth Earnings
Growth-Adj P/E €53.47 €76.38 €99.29 68

Widest divergence: Growth Earnings (€76.38) versus Asset-Based (€19.94). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €7.7B
Revenue growth (YoY) -15.5%
Net margin 17.8%
Return on equity 13.5%
Free cash flow €550M FY2025
P/E ratio 15.3
More key figures
Operating margin 19.7%
EPS (TTM) €3.93
Dividend yield 3.5%
EPS growth (YoY) -32.0%
Net debt €2.4B FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 53 · Market factors (momentum, volatility) 50

Profitability 47
Margins and returns on capital today
Quality Growth 16
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 51
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 30
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

VERBUND AG, together with its subsidiaries, generates, trades, and sells electricity in Austria, Germany, France, Romania, Spain, and Luxembourg. It operates through Hydro, New Renewables, Sales, Grid, and All Other segments.

Full company description

VERBUND AG, together with its subsidiaries, generates, trades, and sells electricity in Austria, Germany, France, Romania, Spain, and Luxembourg. It operates through Hydro, New Renewables, Sales, Grid, and All Other segments. The company engages in the generation of hydropower, wind power, photovoltaic systems, and flexible storage systems; trading and sale activities, and business activities related to battery storage systems; electricity and thermal generation; and holds equity interests. It also offers electricity, gas, e-mobility, and large-scale photovoltaic systems. The company serves participants in energy exchange markets, traders, electric utilities, industrial companies, and household and commercial customers. VERBUND AG was founded in 1947 and is headquartered in Vienna, Austria.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

VERBUND AG reported revenue of €8.0B in FY2025 versus €4.8B in FY2021, a compound +13.8%/yr. Reported net income was €1.5B in FY2025, compounding +14.3%/yr from FY2021.

Growth Quality 80/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€8.0B
Latest YoY
−2.8%
Avg. growth/yr (3Y)
−8.2%
Avg. growth/yr (5Y)
+19.9%
Avg. growth/yr (20Y)
+6.8%
Revenue +13.8%/yr
FY21 €4.8B
FY22 €10.3B
FY23 €10.5B
FY24 €8.2B
FY25 €8.0B
Net income +14.3%/yr
FY21 €874M
FY22 €1.7B
FY23 €2.3B
FY24 €1.9B
FY25 €1.5B

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Cite: Fair Value Calculator (2026). "VERBUND AG Fair Value". https://www.fairvalue-calculator.com/stock/OEWA

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.

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10 more Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

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Adani Green Energy Limited ADANIGREEN ₹1,537 ₹170.50 -89%
AXIA Energia SA AXIAP $10.74 $9.65 -10%
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 VERBUND AG (OEWA) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €66.19 versus a price of €58.55, about +13% (undervalued).
What is the fair value of OEWA?
Our model-based fair value for VERBUND AG is €66.19 (as of Jul 19, 2026), built from audited fundamentals. The current price is €58.55.
What is the quality score of OEWA?
VERBUND AG has a Quality Score of 53/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of VERBUND AG (OEWA)?
VERBUND AG reported trailing-twelve-month revenue of about €7.7B (latest available figure, as of Jul 19, 2026).
What is the net profit margin of OEWA?
The net profit margin of VERBUND AG is about 17.8%, meaning it keeps roughly 17.8% of revenue as net income. Based on the latest reported figures.
Does VERBUND AG pay a dividend?
VERBUND AG currently shows a dividend yield of about 3.46% relative to its recent price (as of Jul 19, 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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