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Papoutsanis S.A (PAP) Fair Value & Analysis

Consumer Defensive · GR · Market cap €94.0M

PS Papoutsanis S.A PAP · AT
Price€3.48
Fair Value€4.82
Upside+38.5%
Quality67/100
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Healthy Growth
Thin margins · 7.7% net margin
Moderate debt · generates free cash flow
2.59% dividend yield
Mixed vs. peers (8/14)
Moderate moat 51/100
Evidence: High Range €2.84 – €6.02 Share as image

Fair value as of: Jul 18, 2026

From 26 valuation models · updated 23 days ago

Share price +3.9% over the past month.

A solid business, screening 39% undervalued on our models.

What matters now

  • Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€2.84 to €6.02) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€3.99 €1.77 Fair Value €4.82 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range €1.77 – €3.99 · fair‑value band €2.84 – €6.02 · the €3.48 price screens below the €4.82 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Papoutsanis S.A (PAP) currently trades at €3.48, while our model-based Fair Value estimate is €4.82, implying the stock looks roughly 38.5% undervalued today. The Quality Score stands at 67/100 (solid 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, Papoutsanis S.A generated revenue of €79.7M at a net margin of 7.7%. Revenue declined 1.0% year over year. It earns a return on equity of 17.6%. Net debt stands at €18.4M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €2.84 (bear case) to €6.02 (bull case); at €3.48, 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 14% below its 52-week high and 29% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -26% fair-value upside, at 39%, PAP 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 €1.65 €3.20 €5.48 80
Residual Income €1.26 €1.58 €3.52 76
Rev-Margin DCF €2.27 €4.82 €8.47 74
All 26 models by family
DCF Models
FCF DCF €1.75 €3.04 €6.00 38
Owner Earnings €1.10 €2.47 €4.74 31
5Y Revenue Exit €2.27 €4.87 €8.85 39
5Y EBITDA Exit €6.25 €13.78 €24.66 41
5Y P/E Exit €2.44 €5.34 €8.94 38
10Y Revenue Exit €1.92 €4.23 €7.80 36
10Y EBITDA Exit €4.37 €10.24 €20.73 37
10Y P/E Exit €2.11 €4.49 €8.33 35
Earnings-Based
Graham-Dodd €1.56 €9.83 €13.74 54
Lynch FV €2.84 €4.05 €5.27 50
PEG = 1.0 €2.84 €4.05 €5.27 46
EPV €5.50 €6.23 €6.81 59
Dividend Discount
Gordon GGM €0.4900 €0.8200 €1.06 70
DDM Multi-Stage €0.4900 €0.7800 €0.8800 61
Multiples
P/E Multiple €3.61 €4.82 €6.02 63
P/S Multiple €2.92 €3.90 €4.87 58
P/B Multiple €2.92 €3.90 €4.87 55
EV/EBIT €11.42 €15.39 €19.37 53
EV/EBITDA €9.64 €13.02 €16.40 54
EV/Revenue €2.58 €3.91 €5.24 43
Asset-Based
NCAV (Graham) €0.6600 €0.8900 €1.33 50
Growth DCF
Growth DCF €1.65 €3.20 €5.48 80
Rev-Margin DCF €2.27 €4.82 €8.47 74
Economic Profit
Residual Income €1.26 €1.58 €3.52 76
ROIC Compounder €6.26 €7.93 €9.85 72
Growth Earnings
Growth-Adj P/E €4.04 €5.77 €7.50 68

Widest divergence: Growth Earnings (€5.77) versus Dividend Discount (€0.7800). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €79.7M
Revenue growth (YoY) -1.0%
Net margin 7.7%
Return on equity 17.6%
Free cash flow €5.8M FY2025
P/E ratio 15.1
More key figures
Operating margin 8.1%
EPS (TTM) €0.2300
Dividend yield 2.6%
EPS growth (YoY) +2.7%
Net debt €18.4M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 65 · Market factors (momentum, volatility) 55

Profitability 58
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 55
Distance to the 52-week high (market factor)
Net Issuance 84
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

Papoutsanis S.A. produces and sells soaps and liquid cosmetics in Greece. It offers shower gels, shampoos, hand washes, face cleansers, hand and body lotions, body oils, hair conditioners, hair masks and oils, hand creams, soaps, foam baths and shaving foams, liquid soaps, antiseptic hand gels, disinfectants, soap noodles, syndets, and melt and pour …

Full company description

Papoutsanis S.A. produces and sells soaps and liquid cosmetics in Greece. It offers shower gels, shampoos, hand washes, face cleansers, hand and body lotions, body oils, hair conditioners, hair masks and oils, hand creams, soaps, foam baths and shaving foams, liquid soaps, antiseptic hand gels, disinfectants, soap noodles, syndets, and melt and pour products, as well as accessories, such as dental and shaving kits, shower caps, sewing kits, vanity sets, combs, amenities trays, glass caps, shoe-shine sponges, shoe horn and mitt products, bath sponges, slippers, and display stands. The company offers its products under the AHAVA, Aromatics, Eau De Grece, Glycerine Soap, Good to declare, Karavaki, Natura, Olive Care, Olive Soap, Olivia, Olivia Fusion, Olivia Thinks, Papoutsanis, Papoutsanis For Kids, Sarbacane, and Skin Essentials brands. It also exports its products to Europe, the United States, Asia, Oceania, and internationally. The company was formerly known as Plias SA. Papoutsanis S.A. was founded in 1870 and is based in Chalcis, Greece.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Papoutsanis S.A reported revenue of €79.9M in FY2025 versus €54.8M in FY2021, a compound +9.9%/yr. Reported net income was €6.2M in FY2025, compounding +6.0%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€79.9M
Latest YoY
+20.6%
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.
+4.1%
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.
+14.4%
Avg. growth/yr (12Y) 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.
+14.3%
Revenue +9.9%/yr
FY21 €54.8M
FY22 €70.7M
FY23 €62.3M
FY24 €66.2M
FY25 €79.9M
Net income +6.0%/yr
FY21 €4.9M
FY22 €3.0M
FY23 €4.1M
FY24 €5.3M
FY25 €6.2M

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

Peer Group

Household & Personal Products · 244 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 67 · Above median
Fair Value upside +39% · Top 25%
Return on equity (TTM) 18% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth -1% · Below median
Dividend yield (TTM) 2.6% · Above median
Debt / equity 0.51× · Higher than 75% of peers

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

P/E (TTM) 15.1× · Cheaper than median
P/B 3.03× · Pricier than 75% of peers
P/S (TTM) 1.36× · Pricier than median
P/FCF 18.8× · Pricier than 75% of peers
EV/EBITDA 12.5× · 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 85 · sector 28
FUTURE 0 · sector 4
PAST 71 · sector 26
HEALTH 74 · sector 98
DIVIDEND 52 · sector 50

Insider activity: 45/100

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 Household & Personal Products stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
The Procter & Gamble Company PG $146.80 $108.16 -26%
Unilever PLC ULN 1,080 MXN 1,273 MXN +18%
Hindustan Unilever Limited HINDUNILVR ₹2,144 ₹1,000 -53%
Essity AB ESSITYA kr 279.00 kr 250.02 -10%
Godrej Consumer Products Limited GODREJCP ₹1,088 ₹367.64 -66%
Marico Limited MARICO ₹846.75 ₹233.05 -72%
APR Co 278470 375,000 KRW 151,222 KRW -60%
Dabur India Limited DABUR ₹429.45 ₹181.60 -58%
Kimberly-Clark de México, S. A. B. de C. V., KIMBERA 38.07 MXN 50.09 MXN +32%
PT Unilever Indonesia Tbk UNVR 1,730 IDR 1,934 IDR +12%

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Frequently asked questions

Is Papoutsanis S.A (PAP) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €4.82 versus a price of €3.48, about +39% (undervalued).
What is the fair value of PAP?
Our model-based fair value for Papoutsanis S.A is €4.82 (as of Jul 18, 2026), built from audited fundamentals. The current price is €3.48.
What is the quality score of PAP?
Papoutsanis S.A has a Quality Score of 67/100. 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 Papoutsanis S.A (PAP)?
Papoutsanis S.A reported trailing-twelve-month revenue of about €79.7M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of PAP?
The net profit margin of Papoutsanis S.A is about 7.7%, meaning it keeps roughly 7.7% of revenue as net income. Based on the latest reported figures.
Does Papoutsanis S.A pay a dividend?
Papoutsanis S.A currently shows a dividend yield of about 2.59% relative to its recent price (as of Jul 18, 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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