ROMANDE ENERGIE SA (REHN) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of ROMANDE ENERGIE SA CHF 43.68, price CHF 48.40, upside -9.8%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 CHF 37.94 – CHF 54.12 · fair‑value band CHF 30.58 – CHF 51.67 · the CHF 48.40 price screens above the CHF 43.68 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Romande Energie Holding SA engages in the production, distribution, and marketing of electrical and thermal energy in Switzerland. It generates electricity through hydro, solar, wind, and biomass plants.
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Romande Energie Holding SA engages in the production, distribution, and marketing of electrical and thermal energy in Switzerland. It generates electricity through hydro, solar, wind, and biomass plants. The company also engages in managing and developing distribution of infrastructure for electricity and fibre optics; and develops installations fuelled by renewable energy sources, as well as the generation and power/heating distribution activities. In addition, the company offers marketing and related services, such as invoicing and call-centre operation; and customers cross-disciplinary expertise in the transition to green energy. Romande Energie Holding SA was founded in 1901 and is headquartered in Morges, Switzerland.
Stock analysis
ROMANDE ENERGIE SA (REHN) currently trades at CHF 48.40, while our model-based Fair Value estimate is CHF 43.68, implying the stock looks roughly 10.8% fairly valued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of CHF 55.66 per share, and 5 of the 14 models we run sit above the CHF 48.40 price.
Bear case: the Earnings-Based group reads lowest at CHF 5.97, and 9 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: CHF 30.58 (bear) to CHF 51.67 (bull), the price of CHF 48.40 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 54/100 (solid quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
ROMANDE ENERGIE SA reported revenue of CHF 788M in FY2025 versus CHF 614M in FY2021, a compound +6.4%/yr. Reported net income was CHF 79.5M in FY2025, compounding +24.7%/yr from FY2021.
Key figures
Market cap CHF 1.2B · P/S ratio 1.61 · EPS (TTM) CHF −0.0800 · Dividend yield 3.0% · Net margin 10.1% · Return on equity 3.7% · Return on assets (EBIT) 2.1% · Operating margin 6.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 21% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −34% fair-value upside, at −10%, REHN screens cheaper than that median.
Fair Value models
Bear CHF 30.58Fair Value CHF 43.68Bull CHF 51.67
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.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.
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.39/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−5.1%
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.
+2.0%
Revenue growth 5 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.
+8.8%
Start year 2020 (pandemic). Over 10 years: +4.1% a year
Revenue growth 20 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.
+2.5%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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 5 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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+2.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.1%
Dividend (yield on the price)3.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.19% vs −30%, picking up
Profit margin 2020 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.16% → 5%
2025 sits 68% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 24.1%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Price, fair value, quality and upside side by side.
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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.Utilities - Renewable · 210 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−10% · Below median
Profitability
Return on equity (TTM)4% · Above median
Return on assets1% · Below median
Net margin (TTM)10% · Above median
Operating margin (TTM)7% · Below median
Growth and dividend
Revenue growth−1% · Above median
Dividend yield (TTM)3.0% · Above median
Balance sheet
Debt / equity0.16× · Below median
Valuation Multiplesvs Utilities - Renewable median · lower = cheaper
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Cite: Fair Value Calculator (2026). "ROMANDE ENERGIE SA Fair Value". https://www.fairvalue-calculator.com/stock/REHN
Frequently asked questions
Is ROMANDE ENERGIE SA (REHN) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of CHF 43.68 versus a price of CHF 48.40, about −10% upside (fairly valued).
What is the fair value of REHN?
Our model-based fair value for ROMANDE ENERGIE SA is CHF 43.68 (as of Sep 23, 2026), built from audited fundamentals. The current price: CHF 48.40.
What is the quality score of REHN?
ROMANDE ENERGIE SA has a Quality Score of 54/100. 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 ROMANDE ENERGIE SA (REHN)?
Our model-based price target is the fair value of CHF 43.68 (as of Sep 23, 2026) from 15 valuation models. Cautious scenario CHF 30.58, optimistic scenario CHF 51.67. It is a calculation from audited fundamentals, not an analyst target.
What is the ROMANDE ENERGIE SA stock forecast for 2026?
Our models put fair value at CHF 43.68, about −10% upside versus a price of CHF 48.40 (fairly valued). Cautious scenario CHF 30.58, optimistic scenario CHF 51.67. The calculation is refreshed regularly with new filings.
What is the revenue of ROMANDE ENERGIE SA (REHN)?
ROMANDE ENERGIE SA reported trailing-twelve-month revenue of about CHF 788M (latest available figure, as of Sep 23, 2026).
Does ROMANDE ENERGIE SA pay a dividend?
ROMANDE ENERGIE SA currently shows a dividend yield of about 2.98% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of ROMANDE ENERGIE SA (REHN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ROMANDE ENERGIE SA it is CHF 43.68 per share (as of Sep 23, 2026), against a price of CHF 48.40. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is ROMANDE ENERGIE SA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, REHN trades above its calculated fair value: price CHF 48.40, fair value CHF 43.68, a gap of about −10% (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 REHN?
No. The price is what the market pays today (CHF 48.40); the fair value is what the company's own numbers justify (CHF 43.68). For ROMANDE ENERGIE SA the two are CHF 4.72 per share apart. That gap is exactly why we show both numbers side by side.
How much is ROMANDE ENERGIE SA worth?
The market values ROMANDE ENERGIE SA at about CHF 1.2B (market capitalisation, as of Sep 23, 2026). Per share that is CHF 48.40; our models calculate a fair value of CHF 43.68 per share.
What do the bullish and bearish scenarios say about REHN?
Our models span a range for ROMANDE ENERGIE SA: cautious scenario CHF 30.58, base CHF 43.68, optimistic CHF 51.67 per share (as of Sep 23, 2026, price CHF 48.40). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of ROMANDE ENERGIE SA (REHN)?
Balance-sheet figures for ROMANDE ENERGIE SA (as of Sep 23, 2026): return on equity 3.7%, debt of 0.16 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is REHN from its 52-week high?
ROMANDE ENERGIE SA trades at CHF 48.40, about 7% below its 52-week high of CHF 51.80 and 21% above the low of CHF 39.90 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 43.68 is for.
Which stocks are comparable to ROMANDE ENERGIE SA?
From the same area (Utilities) we also value China Yangtze Power Co, Ørsted A/S, Huaneng Lancang River Hydropower Inc, Adani Green Energy Limited, 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 ROMANDE ENERGIE SA stock attractive at the current price?
The data as of Sep 23, 2026: price CHF 48.40, calculated fair value CHF 43.68 (−10%), Quality Score 54/100, from 15 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 REHN calculated?
We run ROMANDE ENERGIE SA through 15 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 CHF 43.68, 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. ROMANDE ENERGIE 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 ROMANDE ENERGIE SA (REHN)?
The closing price on Sep 23, 2026 was CHF 48.40. Our model-based fair value is CHF 43.68, about −10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ROMANDE ENERGIE SA right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of ROMANDE ENERGIE SA
How large is the market capitalisation of ROMANDE ENERGIE SA (REHN)?
The market capitalisation of ROMANDE ENERGIE SA is CHF 1.2B. 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 ROMANDE ENERGIE SA (REHN)?
The price-to-sales ratio of ROMANDE ENERGIE SA is 1.61 (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 ROMANDE ENERGIE SA (REHN)?
Earnings per share at ROMANDE ENERGIE SA are CHF −0.0800. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ROMANDE ENERGIE SA (REHN)?
The dividend yield of ROMANDE ENERGIE SA is 3.0%. 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 ROMANDE ENERGIE SA (REHN)?
The net margin of ROMANDE ENERGIE SA is 10.1% (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 ROMANDE ENERGIE SA (REHN)?
The return on equity (ROE) of ROMANDE ENERGIE SA is 3.7% (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 ROMANDE ENERGIE SA (REHN)?
On an EBIT basis the return on assets of ROMANDE ENERGIE SA is 2.1% (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 ROMANDE ENERGIE SA (REHN)?
The operating margin of ROMANDE ENERGIE SA is 6.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ROMANDE ENERGIE SA (REHN)?
Revenue at ROMANDE ENERGIE SA is growing −0.6% versus a year earlier (3y avg +2.0%). 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 ROMANDE ENERGIE SA (REHN)?
Earnings per share at ROMANDE ENERGIE SA are growing −40.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ROMANDE ENERGIE SA (REHN) generate?
The free cash flow of ROMANDE ENERGIE SA is −CHF 16.6M (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does ROMANDE ENERGIE SA (REHN) carry?
The net debt of ROMANDE ENERGIE SA is CHF 141M (fiscal year 2024). 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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