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Ontex Group (ONTEX) Fair Value & Analysis

Consumer Defensive · BE · Market cap €192M

OG Ontex Group ONTEX · BR
Price€2.48
Fair Value€7.38
Upside+197.6%
Quality45/100
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Weak Growth
Loss-making · -11.6% net margin
Low debt · generates free cash flow
Trails peers (5/13)
Narrow moat 24/100
Evidence: High Range €3.87 – €13.25 Share as image

Fair value as of: Aug 13, 2026

From 15 valuation models · updated yesterday

Share price +12.5% over the past month.

Below-average quality, screening 198% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€3.87). The market is more pessimistic than our downside scenario.
  • The model range is unusually wide (€3.87 to €13.25). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

€10.80 €2.16 Fair Value €7.38 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range €2.16 – €10.80 · fair‑value band €3.87 – €13.25 · the €2.48 price screens below the €7.38 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Ontex Group (ONTEX) currently trades at €2.48, while our model-based Fair Value estimate is €7.38, implying the stock looks roughly 197.6% undervalued today. The Quality Score stands at 45/100 (below-average quality), in the Consumer Defensive 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, Ontex Group generated revenue of €1.8B at a net margin of -9.9%. Revenue declined 6.7% year over year. It earns a return on equity of 1.8%. The balance sheet holds a net cash position of €70.4M. Fundamentals as of Aug 13, 2026

Our scenario range runs from €3.87 (bear case) to €13.25 (bull case); at €2.48, the current price sits below 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 67% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -38% fair-value upside, at 198%, ONTEX 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 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 €0.0200 €0.8900 €2.26 80
Rev-Margin DCF €3.18 €7.11 €11.98 74
ROIC Compounder €3.47 €4.37 €5.10 72
All 15 models by family
DCF Models
FCF DCF €0.8600 €2.44 38
5Y Revenue Exit €3.18 €7.05 €12.72 39
5Y EBITDA Exit €7.55 €14.46 €23.68 41
10Y Revenue Exit €1.40 €4.18 €7.40 36
10Y EBITDA Exit €3.91 €8.36 €13.51 37
Earnings-Based
EPV €3.47 €4.37 €5.10 59
Dividend Discount
Gordon GGM €2.89 €3.41 €3.89 70
DDM Multi-Stage €2.89 €3.57 €4.27 61
Multiples
EV/EBIT €11.20 €16.29 €21.38 53
EV/EBITDA €17.09 €24.14 €31.19 54
EV/Revenue €6.83 €11.50 €16.17 43
Asset-Based
NCAV (Graham) €5.96 €7.99 €11.92 50
Growth DCF
Growth DCF €0.0200 €0.8900 €2.26 80
Rev-Margin DCF €3.18 €7.11 €11.98 74
Economic Profit
ROIC Compounder €3.47 €4.37 €5.10 72

Widest divergence: Multiples (€16.29) versus Growth DCF (€0.8900). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €1.7B
Revenue growth (YoY) -2.9%
Net margin -11.6%
Return on equity -13.8%
Free cash flow €42.8M FY2025
P/E ratio 12.3 as of Aug 6, 2026
More key figures
Operating margin 4.2%
EPS (TTM) €-1.56
EPS growth (YoY) -68.5%
Net cash €70.4M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 42 · Market factors (momentum, volatility) 27

Profitability 20
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 20
Earnings quality: real cash, not paper profit
Fin. Strength 32
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 93
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

Ontex Group NV develops, produces, and sells baby, feminine, and adult care products in Belgium, the United Kingdom, Italy, the United States, France, Poland, and internationally.

Full company description

Ontex Group NV develops, produces, and sells baby, feminine, and adult care products in Belgium, the United Kingdom, Italy, the United States, France, Poland, and internationally. The company offers baby care products, such as baby diapers and pants, and wet wipes under the Moltex, Free Life, Baby Charm, Helen Harper, and Swimmies brands; and feminine care products, including sanitary towels, panty liners, and tampons under the ConfiDaily, SatinSense, All night protection, Libera Safe, 4-in-1 protection, Multi-liquid liner brand names. It also provides adult care products comprising adult pants and diapers, incontinence towels, and bed protection under the iD, SERENITY, lille, orizon, and Kylie, as well as Nefertiti brands. The company sells its products to consumers, retailers, and institutional and private healthcare providers. Ontex Group NV was founded in 1979 and is headquartered in Aalst, Belgium.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ontex Group reported revenue of €1.8B in FY2025 versus €1.4B in FY2021, a compound +5.7%/yr. Reported net income was −€174M in FY2025.

Growth Quality 18/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€1.8B
Latest YoY
−5.3%
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.
+1.8%
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.
−3.3%
Avg. growth/yr (14Y) 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.
+2.7%
Revenue +5.7%/yr
FY21 €1.4B
FY22 €1.7B
FY23 €1.8B
FY24 €1.9B
FY25 €1.8B
Net income
FY21 −€61.9M
FY22 −€270M
FY23 €34.8M
FY24 €10.3M
FY25 −€174M
Character of growth · EPS growth decomposed (2014-2025) −15.0 % p.a.
Revenue per share −1.7 pp

of which total revenue +0.4 pp · buybacks/dilution −2.1 pp

EBIT margin −7.7 pp
Tax rate −0.4 pp
Residual (interest, one-offs) −5.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Ontex Group Fair Value". https://www.fairvalue-calculator.com/stock/ONTEX

Peer Group

Household & Personal Products · 252 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 45 · Bottom 25%
Fair Value upside +198% · Top 25%
Return on assets 2% · Below median
Net margin (TTM) -12% · Bottom 25%
Operating margin (TTM) 4% · Below median
Revenue growth -3% · Below median
Debt / equity 0.42× · Higher than 75% of peers

Valuation Multiples vs Household & Personal Products median · lower = cheaper

P/E (TTM) 12.3× · Cheaper than median
P/B 0.23× · Cheaper than 75% of peers
P/S (TTM) 0.13× · Cheaper than 75% of peers
P/FCF 5.2× · Pricier than median
EV/EBITDA 4.2× · 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 100 · sector 29
FUTURE 0 · sector 4
PAST 0 · sector 27
HEALTH 79 · sector 98
DIVIDEND 0 · sector 50

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 Household & Personal Products stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
The Procter & Gamble Company PG $144.26 $108.16 -25%
Unilever PLC ULN 1,080 MXN 973.58 MXN -10%
Hindustan Unilever Limited HINDUNILVR ₹2,063 ₹789.46 -62%
Essity AB ESSITYA kr 276.50 kr 250.02 -10%
Godrej Consumer Products Limited GODREJCP ₹936.90 ₹367.64 -61%
Marico Limited MARICO ₹855.00 ₹233.05 -73%
APR Co 278470 397,000 KRW 137,521 KRW -65%
Dabur India Limited DABUR ₹411.25 ₹175.59 -57%
PT Unilever Indonesia Tbk UNVR 1,760 IDR 1,928 IDR +10%
Amorepacific Corporation 090430 135,700 KRW 84,785 KRW -38%

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Frequently asked questions

Is Ontex Group (ONTEX) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €7.38 versus a price of €2.48, about +198% (undervalued).
What is the fair value of ONTEX?
Our model-based fair value for Ontex Group is €7.38 (as of Aug 13, 2026), built from audited fundamentals. The current price is €2.48.
What is the quality score of ONTEX?
Ontex Group has a Quality Score of 45/100. 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 Ontex Group (ONTEX)?
Ontex Group reported trailing-twelve-month revenue of about €1.8B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of ONTEX?
The net profit margin of Ontex Group is about -9.9%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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