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One United Properties SA (ONE) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of One United Properties SA RON 27.40, price RON 30.00, upside -8.7%, quality 41 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Real Estate · RO · ISIN ROJ8YZPDHWW8

OU Some data Sep 24, 2026

One United Properties SA

ONE · RO

Low PriorityFair Value upside is limited and quality is weak.

·Fair value 27.40 RON · Fairly valued (−9%)
!Quality 41/100
!Expensive Growth (revenue 3y +13.9 %/yr)
Highly profitable · 26.4% net margin (TTM)
!Low debt · negative free cash flow
·2.67% dividend yield
Ranks above peers (8/13)
!Moderate moat 61/100
!Evidence only medium, so the estimate is less certain
!Weak on valuation: 22 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

36.75 RON 16.21 RON Fair Value 27.40 RON Jul 2021 Sep 2026

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 16.21 RON – 36.75 RON · fair‑value band 24.76 RON – 37.89 RON · the 30.00 RON price screens above the 27.40 RON 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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Company profile

One United Properties SA, together with its subsidiaries, develops and sells real estate properties in Romania. It operates through Residential; and Office, Retail & Landbank segments. The company engages in the investment and development of residential, mixed-use, commercial, office, and hospitality real estate projects under the One brand.

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One United Properties SA, together with its subsidiaries, develops and sells real estate properties in Romania. It operates through Residential; and Office, Retail & Landbank segments. The company engages in the investment and development of residential, mixed-use, commercial, office, and hospitality real estate projects under the One brand. It also provides architecture services for group and non-group projects; project development; property management; and management services. In addition, the company leases office premises and retail spaces. One United Properties SA was incorporated in 2007 and is headquartered in Bucharest, Romania.

Stock analysis

One United Properties SA (ONE) currently trades at 30.00 RON, while our model-based Fair Value estimate is 27.40 RON, implying the stock looks roughly 9.5% fairly valued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 59.38 RON per share, and 5 of the 9 models we run sit above the 30.00 RON price.

Bear case: the Dividend Discount group reads lowest at 9.17 RON, and 4 of the 9 models stay below the price. Evidence for this calculation is medium.

Scenario range: 24.76 RON (bear) to 37.89 RON (bull), the price of 30.00 RON sits inside 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 41/100 (below-average quality), in the Real Estate sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

One United Properties SA reported revenue of 1.3B RON in FY2025 versus 715M RON in FY2021, a compound +15.1%/yr. Reported net income was 395M RON in FY2025, compounding +0.2%/yr from FY2021.

Key figures

Market cap 3.3B RON (≈ $716M) · P/E ratio 10.4 · P/S ratio 3.27 · EPS (TTM) 2.89 RON · Dividend yield 2.7% · Net margin 31.5% · Return on equity 9.5% · Return on assets (EBIT) 6.5%.

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 14% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at −9%, ONE screens richer than that median.

Fair Value models

Bear 24.76 RON Fair Value 27.40 RON Bull 37.89 RON
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 (1.53 RON 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.
Highest evidence
Residual Income 25.81 RON 29.07 RON 47.79 RON 71
EV/EBITDA 40.47 RON 55.99 RON 71.52 RON 67
EV/EBIT 53.38 RON 73.21 RON 93.04 RON 66
All 9 models by family
Dividend Discount
Gordon GGM 5.57 RON 10.04 RON 13.82 RON 65
DDM Multi-Stage 5.57 RON 9.17 RON 10.72 RON 64
Multiples
P/S Multiple 45.53 RON 60.71 RON 75.89 RON 58
P/B Multiple 44.54 RON 59.38 RON 74.23 RON 55
EV/EBIT 53.38 RON 73.21 RON 93.04 RON 66
EV/EBITDA 40.47 RON 55.99 RON 71.52 RON 67
EV/Revenue 26.70 RON 40.76 RON 54.82 RON 53
Asset-Based
NCAV (Graham) 14.85 RON 19.89 RON 29.69 RON 54
Economic Profit
Residual Income 25.81 RON 29.07 RON 47.79 RON 71

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Quality Score breakdown

Overall quality 41/100

Of which business quality 39 · Market factors (momentum, volatility) 69

Profitability 43
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 6
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 60
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−4.1%
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.
+13.9%
What shareholders gained per year (last 3 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 3 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.
−3.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.4%
Dividend (yield on the price)2.7%
Profit margin 2021 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.30% → 32%

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Peer GroupHow 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 · 578 stocks

Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 41 · Below median
Fair Value upside −9% · Below median
Profitability
Return on equity (TTM) 10% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 26% · Top 25%
Operating margin (TTM) 20% · Above median
Growth and dividend
Revenue growth −53% · Bottom 25%
Dividend yield (TTM) 2.7% · Below median
Balance sheet
Debt / equity 0.40× · Above median

Valuation Multiplesvs Real Estate - Development median · lower = cheaper

P/E (TTM) 10.4× · Cheaper than median
P/B 0.22× · Cheapest 25%
P/S (TTM) 0.59× · Cheaper than median
EV/EBITDA 2.8× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)22 · sector 47
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)38 · sector 11
HEALTH (low debt)80 · sector 83
DIVIDEND (yield)53 · sector 56

Context: sector, industry, market

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

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Sun Hung Kai Properties Limited 0016 HK$109.10 HK$147.78 +35%
China Resources Land Limited 1109 HK$29.62 HK$74.05 +150%
Vinhomes Joint Stock Company VHM 68,200 VND 112,796 VND +65%
CK Asset Holdings 1113 HK$46.44 HK$71.69 +54%
Hongkong Land Holdings H78 $8.74 $1.52 −83%
DLF Limited DLF ₹675.00 ₹167.21 −75%
China Overseas Land & Investment Limited 0688 HK$12.43 HK$22.35 +80%
Lodha Developers Limited LODHA ₹1,163 ₹275.95 −76%
PT Pantai Indah Kapuk Dua Tbk, PANI 5,075 IDR 1,325 IDR −74%
Poly Developments and Holdings 600048 ¥5.64 ¥14.10 +150%

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Cite: Fair Value Calculator (2026). "One United Properties SA Fair Value". https://www.fairvalue-calculator.com/stock/ONE

Frequently asked questions

Is One United Properties SA (ONE) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 27.40 RON versus a price of 30.00 RON, about −9% upside (fairly valued).
What is the fair value of ONE?
Our model-based fair value for One United Properties SA is 27.40 RON (as of Sep 24, 2026), built from audited fundamentals. The current price: 30.00 RON.
What is the quality score of ONE?
One United Properties SA has a Quality Score of 41/100. 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 One United Properties SA (ONE)?
Our model-based price target is the fair value of 27.40 RON (as of Sep 24, 2026) from 9 valuation models. Cautious scenario 24.76 RON, optimistic scenario 37.89 RON. It is a calculation from audited fundamentals, not an analyst target.
What is the One United Properties SA stock forecast for 2026?
Our models put fair value at 27.40 RON, about −9% upside versus a price of 30.00 RON (fairly valued). Cautious scenario 24.76 RON, optimistic scenario 37.89 RON. The calculation is refreshed regularly with new filings.
What is the revenue of One United Properties SA (ONE)?
One United Properties SA reported trailing-twelve-month revenue of about 1.2B RON (latest available figure, as of Sep 24, 2026).
Does One United Properties SA pay a dividend?
One United Properties SA currently shows a dividend yield of about 2.67% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of One United Properties SA (ONE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For One United Properties SA it is 27.40 RON per share (as of Sep 24, 2026), against a price of 30.00 RON. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is One United Properties SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ONE trades above its calculated fair value: price 30.00 RON, fair value 27.40 RON, 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 ONE?
No. The price is what the market pays today (30.00 RON); the fair value is what the company's own numbers justify (27.40 RON). For One United Properties SA the two are 2.60 RON per share apart. That gap is exactly why we show both numbers side by side.
How much is One United Properties SA worth?
The market values One United Properties SA at about 3.3B RON (market capitalisation, as of Sep 24, 2026). Per share that is 30.00 RON; our models calculate a fair value of 27.40 RON per share.
What do the bullish and bearish scenarios say about ONE?
Our models span a range for One United Properties SA: cautious scenario 24.76 RON, base 27.40 RON, optimistic 37.89 RON per share (as of Sep 24, 2026, price 30.00 RON). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ONE?
One United Properties SA trades at a price-to-earnings ratio of 10.4 (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 27.40 RON is built from several models across several years. Other multiples: P/B 0.2, P/S 0.6, EV/EBITDA 2.8.
How solid is the balance sheet of One United Properties SA (ONE)?
Balance-sheet figures for One United Properties SA (as of Sep 24, 2026): return on equity 9.5%, debt of 0.40 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is ONE from its 52-week high?
One United Properties SA trades at 30.00 RON, about 14% below its 52-week high of 34.90 RON and 18% above the low of 25.52 RON (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 27.40 RON is for.
Which stocks are comparable to One United Properties SA?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, Vinhomes Joint Stock Company, CK Asset Holdings, 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 One United Properties SA stock attractive at the current price?
The data as of Sep 24, 2026: price 30.00 RON, calculated fair value 27.40 RON (−9%), Quality Score 41/100, from 9 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 ONE calculated?
We run One United Properties SA through 9 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 27.40 RON, 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. One United Properties SA 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 One United Properties SA (ONE)?
The closing price on Sep 23, 2026 was 30.00 RON. Our model-based fair value is 27.40 RON, about −9% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with One United Properties SA right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of One United Properties SA

How large is the market capitalisation of One United Properties SA (ONE)?
The market capitalisation of One United Properties SA is 3.3B RON (≈ $716M). 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 One United Properties SA (ONE)?
The price-to-sales ratio of One United Properties SA is 3.27 (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 One United Properties SA (ONE)?
Earnings per share at One United Properties SA are 2.89 RON (price ÷ EPS = P/E 10.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of One United Properties SA (ONE)?
The dividend yield of One United Properties SA is 2.7% (payout 27.7%). 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 One United Properties SA (ONE)?
The net margin of One United Properties SA is 31.5% (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 One United Properties SA (ONE)?
The return on equity (ROE) of One United Properties SA is 9.5% (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 One United Properties SA (ONE)?
On an EBIT basis the return on assets of One United Properties SA is 6.5% (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 One United Properties SA (ONE)?
The operating margin of One United Properties SA is 20.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at One United Properties SA (ONE)?
Revenue at One United Properties SA is growing −53.4% versus a year earlier (3y avg +13.9%). 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 One United Properties SA (ONE)?
Earnings per share at One United Properties SA are growing −80.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does One United Properties SA (ONE) generate?
The free cash flow of One United Properties SA is −73.2M RON (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 One United Properties SA (ONE) carry?
The net debt of One United Properties SA is 910M RON (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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