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Haulotte Group SA (PIG) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Haulotte Group SA €6.54, price €2.18, upside +200.0%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Industrials · FR · ISIN FR0000066755

HG Thin data Sep 23, 2026

Haulotte Group SA

PIG · PA

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value €6.54 · Strongly undervalued (+200%)
!Quality 45/100
!Mixed Growth (revenue YoY −20.0 %/yr)
!Loss-making · -7.4% net margin (TTM)
✓Moderate debt · generates free cash flow
!Mixed vs. peers (6/14)
!Narrow moat 16/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

€5.48 €1.93 Fair Value €6.54 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range €1.93 – €5.48 · fair‑value band €3.86 – €9.33 · the €2.18 price screens below the €6.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Haulotte Group SA, through its subsidiaries, designs, manufactures, and distributes people and material lifting equipment in France and internationally.

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Haulotte Group SA, through its subsidiaries, designs, manufactures, and distributes people and material lifting equipment in France and internationally. Its products include people lifting equipment comprising push-arounds, vertical masts, scissor lifts, articulating and telescopic booms, trailer mounted booms, and lightweight self-propelled booms; military vehicles; and refurbished and second hand lifting machines. The company also offers spare parts; provides training, repair, and financing services; and rents lifting equipment. It serves civil and military applications; rental companies; and logistics, manufacturing, airport operations, maintenance, and retail sectors. Haulotte Group SA was founded in 1881 and is based in Lorette, France. Haulotte Group SA is a subsidiary of Solem SA.

Stock analysis

Haulotte Group SA (PIG) currently trades at €2.18, while our model-based Fair Value estimate is €6.54, implying the stock looks roughly 66.7% undervalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of €13.22 per share, and 11 of the 12 models we run sit above the €2.18 price.

Bear case: the Dividend Discount group reads lowest at €2.19, and 1 of the 12 models stay below the price. Evidence for this calculation is low.

Scenario range: €3.86 (bear) to €9.33 (bull), the price of €2.18 sits below 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 45/100 (below-average quality), in the Industrials sector.

Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.

Haulotte Group SA reported revenue of €512M in FY2025 versus €497M in FY2021, a compound +0.7%/yr. Reported net income was −€38.0M in FY2025.

Key figures

Market cap €68.4M · P/E ratio 4.7 · P/S ratio 0.12 · EPS (TTM) €0.4600 · Dividend yield 10.5% · Net margin −7.4% · Return on equity −21.6% · Return on assets (EBIT) 2.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 45 out of 100 (low confidence).

What moves the price

The share trades about 10% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 16% fair-value upside, at 200%, PIG screens cheaper than that median.

Fair Value models

Bear €3.86 Fair Value €6.54 Bull €9.33
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 (€0.3365 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
FCF DCF €8.84 €13.71 €19.57 80
Growth DCF €8.93 €13.22 €18.11 79
5Y EBITDA Exit €2.94 €5.18 €7.55 74
All 12 models by family
DCF Models
FCF DCF €8.84 €13.71 €19.57 80
5Y Revenue Exit €7.29 €13.10 €20.24 71
5Y EBITDA Exit €2.94 €5.18 €7.55 74
10Y Revenue Exit €7.57 €12.45 €18.53 66
10Y EBITDA Exit €5.49 €7.82 €10.45 69
Dividend Discount
Gordon GGM €1.53 €2.57 €3.33 68
DDM Multi-Stage €1.53 €2.19 €2.75 67
Multiples
EV/EBITDA n/a €0.0800 €1.43 62
EV/Revenue €6.80 €11.98 €17.17 52
Asset-Based
NCAV (Graham) €2.43 €3.26 €4.86 54
Growth DCF
Growth DCF €8.93 €13.22 €18.11 79
Rev-Margin DCF €7.29 €13.29 €20.01 71

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Quality Score breakdown

Overall quality 45/100

Of which business quality 45 · Market factors (momentum, volatility) 53

Profitability 26
Margins and returns on capital today
Quality Growth 24
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 20
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 44
Distance to the 52-week high (market factor)
Net Issuance 71
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. 55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
Profit margin (trend) ⓘ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.
2.3% (2020) → −1.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer Groupⓘ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.Farm & Heavy Construction Machinery · 154 stocks

Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 45 · Bottom 25%
Fair Value upside +200% · Top 25%
Profitability
Return on assets −1% · Bottom 25%
Net margin (TTM) −7% · Bottom 25%
Operating margin (TTM) −3% · Bottom 25%
Growth and dividend
Revenue growth −10% · Bottom 25%
Dividend yield (TTM) 10.5% · Top 25%
Balance sheet
Debt / equity 1.29× · Highest 25%

Valuation Multiplesvs Farm & Heavy Construction Machinery median · lower = cheaper

P/E (TTM) 4.7× · Cheapest 25%
P/B 0.54× · Cheapest 25%
P/S (TTM) 0.15× · Cheapest 25%
P/FCF 2.0× · Cheaper than median
PEG 20.05× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 40
FUTURE (revenue growth)0 · sector 30
PAST (return on equity)0 · sector 34
HEALTH (low debt)35 · sector 93
DIVIDEND (yield)100 · sector 42

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 Farm & Heavy Construction Machinery stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Caterpillar Inc CAT $808.01 $307.83 −62%
Deere & Company DE $709.48 $259.59 −63%
PACCAR Inc PCAR $112.09 $123.30 +10%
Daimler Truck Holding DTG €43.20 €50.31 +16%
Exor N.V EXO €72.85 €139.72 +92%
Sany Heavy Industry Co 600031 ¥17.72 ¥20.84 +18%
Traton SE 8TRA €34.86 €32.88 −6%
Metso Oyj METSO €18.09 €19.90 +10%
XCMG Construction Machinery Co 000425 ¥7.30 ¥14.52 +99%
Sinotruk (Hong Kong) Limited 3808 HK$36.80 HK$56.39 +53%

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Haulotte Group SA · Fair Value
€6.54 +67%Fair Value
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Cite: Fair Value Calculator (2026). "Haulotte Group SA Fair Value". https://www.fairvalue-calculator.com/stock/PIG

Frequently asked questions

Is Haulotte Group SA (PIG) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €6.54 versus a price of €2.18, about +200% upside (undervalued).
What is the fair value of PIG?
Our model-based fair value for Haulotte Group SA is €6.54 (as of Sep 23, 2026), built from audited fundamentals. The current price: €2.18.
What is the quality score of PIG?
Haulotte Group SA 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 price target for Haulotte Group SA (PIG)?
Our model-based price target is the fair value of €6.54 (as of Sep 23, 2026) from 12 valuation models. Cautious scenario €3.86, optimistic scenario €9.33. It is a calculation from audited fundamentals, not an analyst target.
What is the Haulotte Group SA stock forecast for 2026?
Our models put fair value at €6.54, about +200% upside versus a price of €2.18 (undervalued). Cautious scenario €3.86, optimistic scenario €9.33. The calculation is refreshed regularly with new filings.
What is the revenue of Haulotte Group SA (PIG)?
Haulotte Group SA reported trailing-twelve-month revenue of about €511M (latest available figure, as of Sep 23, 2026).
Does Haulotte Group SA pay a dividend?
Haulotte Group SA currently shows a dividend yield of about 10.48% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Haulotte Group SA (PIG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Haulotte Group SA it is €6.54 per share (as of Sep 23, 2026), against a price of €2.18. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Haulotte Group SA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, PIG trades below its calculated fair value: price €2.18, fair value €6.54, a gap of about +200% (undervalued). 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 PIG?
No. The price is what the market pays today (€2.18); the fair value is what the company's own numbers justify (€6.54). For Haulotte Group SA the two are €4.36 per share apart. That gap is exactly why we show both numbers side by side.
How much is Haulotte Group SA worth?
The market values Haulotte Group SA at about €68.4M (market capitalisation, as of Sep 23, 2026). Per share that is €2.18; our models calculate a fair value of €6.54 per share.
What do the bullish and bearish scenarios say about PIG?
Our models span a range for Haulotte Group SA: cautious scenario €3.86, base €6.54, optimistic €9.33 per share (as of Sep 23, 2026, price €2.18). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PIG?
Haulotte Group SA trades at a price-to-earnings ratio of 4.7 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €6.54 is built from several models across several years. Other multiples: PEG 20.1, P/B 0.5, P/S 0.2.
What is the PEG ratio of PIG?
The PEG ratio of Haulotte Group SA is 20.05 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Haulotte Group SA (PIG)?
Balance-sheet figures for Haulotte Group SA (as of Sep 23, 2026): return on equity −21.6%, debt of 1.29 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is PIG from its 52-week high?
Haulotte Group SA trades at €2.18, about 10% below its 52-week high of €2.42 and 10% above the low of €1.99 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €6.54 is for.
Which stocks are comparable to Haulotte Group SA?
From the same area (Industrials) we also value Caterpillar Inc, Deere & Company, PACCAR Inc, Daimler Truck Holding, 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 Haulotte Group SA stock attractive at the current price?
The data as of Sep 23, 2026: price €2.18, calculated fair value €6.54 (+200%), Quality Score 45/100, from 12 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 PIG calculated?
We run Haulotte Group SA through 12 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 €6.54, 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 13.0 % above its aggregate fair value. Haulotte Group SA currently trades 200 % below its own fair value, and the market average says nothing about that. 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 Haulotte Group SA (PIG)?
The closing price on Sep 24, 2026 was €2.18. Our model-based fair value is €6.54, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Haulotte Group SA right now?
The price is below even our cautious bear case (€3.86). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (€3.86 to €9.33) leaves room in how you read the outcome.
Where does the earnings growth of Haulotte Group SA (PIG) come from?
Earnings per share at Haulotte Group SA grew −9.6 % a year from 2013 to 2024. Broken into its drivers: revenue per share +5.7 %, EBIT margin −2.2 %, tax rate +0.6 %, residual (interest, one-offs) −13.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Haulotte Group SA

How large is the market capitalisation of Haulotte Group SA (PIG)?
The market capitalisation of Haulotte Group SA is €68.4M. 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 Haulotte Group SA (PIG)?
The price-to-sales ratio of Haulotte Group SA is 0.12 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Haulotte Group SA (PIG)?
Earnings per share at Haulotte Group SA are €0.4600 (price ÷ EPS = P/E 4.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Haulotte Group SA (PIG)?
The dividend yield of Haulotte Group SA is 10.5% (payout 49.7%). 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 Haulotte Group SA (PIG)?
The net margin of Haulotte Group SA is −7.4% (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 Haulotte Group SA (PIG)?
The return on equity (ROE) of Haulotte Group SA is −21.6% (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 Haulotte Group SA (PIG)?
On an EBIT basis the return on assets of Haulotte Group SA is 2.5% (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 Haulotte Group SA (PIG)?
The operating margin of Haulotte Group SA is −2.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Haulotte Group SA (PIG)?
Revenue at Haulotte Group SA is growing −9.9% versus a year earlier (3y avg −5.6%). 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 Haulotte Group SA (PIG)?
Earnings per share at Haulotte Group SA are growing −75.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Haulotte Group SA (PIG) generate?
The free cash flow of Haulotte Group SA is €39.1M (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 Haulotte Group SA (PIG) carry?
The net debt of Haulotte Group SA is €218M (fiscal year 2025, ≈ 5.6 yrs of FCF). 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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