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Piraeus Port Authority S.A (PPA) Fair Value & Analysis

Industrials · GR · Market cap €976M

PP Piraeus Port Authority S.A PPA · AT
Price€44.25
Fair Value€52.43
Upside+18.5%
Quality66/100
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Expensive Growth
Highly profitable · 34.4% net margin
Low debt · generates free cash flow
5.06% dividend yield
Ranks above peers (9/14)
Wide moat 80/100
Evidence: High Range €28.28 – €87.61 Share as image

Fair value as of: Jul 18, 2026

From 23 valuation models · updated 23 days ago

Share price −1.0% over the past month.

A solid business, screening 18% undervalued on our models.

What matters now

  • The model range is unusually wide (€28.28 to €87.61). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Our model range runs from €28.28 (bear) to €87.61 (bull), base €52.43. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 66/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€47.73 €12.11 Fair Value €52.43 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 €12.11 – €47.73 · fair‑value band €28.28 – €87.61 · the €44.25 price screens below the €52.43 fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Piraeus Port Authority S.A (PPA) currently trades at €44.25, while our model-based Fair Value estimate is €52.43, implying the stock looks roughly 18.5% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Industrials 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, Piraeus Port Authority S.A generated revenue of €251M at a net margin of 34.4%. Revenue grew 0.2% year over year. It earns a return on equity of 20.1%. The balance sheet holds a net cash position of €116M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €28.28 (bear case) to €87.61 (bull case); at €44.25, 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 8% below its 52-week high and 25% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 67% fair-value upside, at 18%, PPA screens richer 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 €11.22 €14.19 €18.38 80
Residual Income €19.54 €25.85 €77.36 76
Rev-Margin DCF €15.65 €23.58 €33.63 74
All 23 models by family
DCF Models
FCF DCF €11.29 €14.62 €19.62 38
5Y Revenue Exit €15.65 €23.88 €35.12 39
5Y EBITDA Exit €36.16 €65.50 €102.59 41
5Y P/E Exit €38.71 €70.66 €107.27 38
10Y Revenue Exit €13.49 €20.26 €30.71 36
10Y EBITDA Exit €26.20 €47.88 €81.50 37
10Y P/E Exit €27.73 €51.30 €85.02 35
Earnings-Based
Graham-Dodd €23.43 €103.11 €141.13 54
Lynch FV €26.66 €38.08 €49.50 50
PEG = 1.0 €26.66 €38.08 €49.50 46
EPV €32.26 €35.84 €38.83 59
Multiples
P/E Multiple €54.28 €72.37 €90.46 63
P/S Multiple €15.05 €20.06 €25.08 58
P/B Multiple €43.94 €58.58 €73.23 55
EV/EBIT €60.85 €79.14 €97.42 53
EV/EBITDA €55.78 €72.37 €88.97 54
EV/Revenue €18.63 €24.05 €29.46 43
Asset-Based
NCAV (Graham) €8.94 €11.99 €17.89 50
Growth DCF
Growth DCF €11.22 €14.19 €18.38 80
Rev-Margin DCF €15.65 €23.58 €33.63 74
Economic Profit
Residual Income €19.54 €25.85 €77.36 76
ROIC Compounder €34.91 €42.27 €50.81 72
Growth Earnings
Growth-Adj P/E €43.93 €62.76 €81.59 68

Widest divergence: Growth Earnings (€62.76) versus Asset-Based (€11.99). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €251M
Revenue growth (YoY) +0.2%
Net margin 34.4%
Return on equity 20.1%
Free cash flow €12.7M FY2025
P/E ratio 11.3
More key figures
Operating margin 28.2%
EPS (TTM) €3.45
Dividend yield 5.1%
EPS growth (YoY) -41.5%
Net cash €116M FY2024

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

Quality Score breakdown

Overall quality 66/100

Of which business quality 65 · Market factors (momentum, volatility) 61

Profitability 61
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 36
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 51
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

Piraeus Port Authority S.A. provides port services at the port of Piraeus, Greece. The company offers containers, car-terminal, coastal shipping, cruise, Ro-Ro, shipbuilding, environmental, and logistics services. It provides mooring, cargo handling, loading, and unloading services, as well as goods storage, and cars handling and transportation services.

Full company description

Piraeus Port Authority S.A. provides port services at the port of Piraeus, Greece. The company offers containers, car-terminal, coastal shipping, cruise, Ro-Ro, shipbuilding, environmental, and logistics services. It provides mooring, cargo handling, loading, and unloading services, as well as goods storage, and cars handling and transportation services. The company is also involved in the maintenance of port facilities. In addition, it offers port services, including water supply, marine fuel, solid and liquid wastewater reception, oil residue reception, electricity, fiber optic and internet, power supplies, repairs, space management, freight management, and telephone connection to ships. The company was founded in 1930 and is based in Piraeus, Greece. Piraeus Port Authority S.A. is a subsidiary of COSCO SHIPPING (Hong Kong) Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Piraeus Port Authority S.A reported revenue of €251M in FY2025 versus €154M in FY2021, a compound +12.9%/yr. Reported net income was €86.2M in FY2025, compounding +23.7%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€251M
Latest YoY
+8.6%
Avg. growth/yr (3Y)
+8.8%
Avg. growth/yr (5Y)
+13.5%
Avg. growth/yr (10Y)
+9.6%
Revenue +12.9%/yr
FY21 €154M
FY22 €195M
FY23 €220M
FY24 €231M
FY25 €251M
Net income +23.7%/yr
FY21 €36.8M
FY22 €52.9M
FY23 €66.8M
FY24 €87.5M
FY25 €86.2M

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Cite: Fair Value Calculator (2026). "Piraeus Port Authority S.A Fair Value". https://www.fairvalue-calculator.com/stock/PPA

Peer Group

Marine Shipping · 231 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 66 · Top 25%
Fair Value upside +19% · Above median
Return on equity (TTM) 20% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 34% · Top 25%
Operating margin (TTM) 28% · Top 25%
Revenue growth 0% · Below median
Dividend yield (TTM) 5.1% · Top 25%

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/E (TTM) 11.3× · Cheaper than median
P/B 2.52× · Pricier than 75% of peers
P/S (TTM) 4.50× · Pricier than 75% of peers
P/FCF 88.5× · Pricier than 75% of peers
EV/EBITDA 7.5× · 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 58 · sector 29
FUTURE 1 · sector 18
PAST 80 · sector 27
HEALTH 100 · sector 88
DIVIDEND 100 · sector 47

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 Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,828 ₹1,041 -43%
A.P. Møller - Mærsk A/S MAERSKA kr 16,520 kr 3,033 -82%
COSCO SHIPPING Holdings 601919 ¥13.98 ¥40.37 +189%
Shanghai International Port (Group) Co 600018 ¥5.17 ¥6.57 +27%
HMM Co 011200 20,050 KRW 33,855 KRW +69%
Ningbo Zhoushan Port Company 601018 ¥3.35 ¥5.58 +67%
Qingdao Port International Co 601298 ¥8.88 ¥15.97 +80%
JSW Infrastructure Limited JSWINFRA ₹330.05 ₹126.31 -62%
Wan Hai Lines Ltd 2615 80.70 TWD 212.79 TWD +164%
Wallenius Wilhelmsen ASA WAWI kr 137.70 kr 50.56 -63%

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Frequently asked questions

Is Piraeus Port Authority S.A (PPA) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €52.43 versus a price of €44.25, about +18% (undervalued).
What is the fair value of PPA?
Our model-based fair value for Piraeus Port Authority S.A is €52.43 (as of Jul 18, 2026), built from audited fundamentals. The current price is €44.25.
What is the quality score of PPA?
Piraeus Port Authority S.A has a Quality Score of 66/100. 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 Piraeus Port Authority S.A (PPA)?
Piraeus Port Authority S.A reported trailing-twelve-month revenue of about €251M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of PPA?
The net profit margin of Piraeus Port Authority S.A is about 34.4%, meaning it keeps roughly 34.4% of revenue as net income. Based on the latest reported figures.
Does Piraeus Port Authority S.A pay a dividend?
Piraeus Port Authority S.A currently shows a dividend yield of about 5.06% 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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