RHI Magnesita NV (RHIM) fair value: what the stock is really worth
As of Oct 26, 2026: fair value (intrinsic value) of RHI Magnesita NV stock £28.24, price £26.20, upside +7.8%, quality 49 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Fair value above price?Yes
Good quality?No
Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with oneYes, for free
Industrials · GB · Based in Austria · ISIN NL0012650360
RMBroad dataOct 27, 2026
RHI Magnesita NV
RHIM · LSE
Low PriorityFair Value upside is limited and quality is weak.
The stock costs about what our calculation considers fair.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 27, 2026.
How to read this chart
60‑month range £12.82 – £33.93 · fair‑value band £19.04 – £36.50 · the £26.20 price screens below the £28.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 27, 2026.
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RHI Magnesita N.V., together with its subsidiaries, develops, produces, sells, installs, and maintains refractory products and systems used in industrial high-temperature processes worldwide.
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The company offers magnesite and dolomite, and refractory bricks, as well as mixes, mortars and castables, and other specialized refractory products.
It also provides refractory engineering solutions, such as drawings or design of a linings concept, installation, supervision, maintenance, and recycling.
In addition, the company offers systems, sensors, machinery, and digital products; and sells internally produced raw materials, such as magnesite ore, dead-burned magnesia, and fused magnesia.
It serves customers in steel, cement, metals, lime, non-ferrous metals, glass, energy, environmental, and chemicals industries.
Additionally, it offers raw magnesite, caustic magnesia, sintered magnesia, dolomite and sintered dolomite, magnesia products, slag conditioners, magnesium oxide, spinels, agalmatolite, chromite, grogs, and commodities. RHI Magnesita N.V. was founded in 1834 and is headquartered in Vienna, Austria.
Stock analysis
RHI Magnesita NV (RHIM) currently trades at £26.20, while our model-based Fair Value estimate is £28.24, so the stock looks roughly fairly valued today (gap 7.2%).
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Valuation
Bull case: the DCF Models group reads highest at a median of £26.02 per share, and 8 of the 25 models we run sit above the £26.20 price.
Bear case: the Dividend Discount group reads lowest at £13.00, and 17 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: £19.04 (bear) to £36.50 (bull), the price of £26.20 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 49/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
RHI Magnesita NV reported revenue of €3.3B in FY2025 versus €2.6B in FY2021, a compound +6.7%/yr. Reported net income was €84.4M in FY2025, compounding −23.2%/yr from FY2021.
Key figures
Market cap £1.3B Small · P/E ratio 13.2 · P/S ratio 0.52 · EPS (TTM) £1.98 · Dividend yield 5.8% · Net margin 3.4% · Return on equity 9.9% · Return on assets (EBIT) 6.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 39% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −52% fair-value upside, at 8%, RHIM screens cheaper than that median.
Fair Value models
Bear£19.04Fair Value £28.24Bull£36.50
Price £26.20 · Upside +7.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (£0.3866 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.65/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−5.2%
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.
−0.1%
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.
+7.9%
Start year 2020 (pandemic). Over 10 years: +6.6% a year
Revenue growth 13 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.
+4.6%
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What shareholders gained per year (last 5 years) ⓘ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. Basis: EBIT basis.
+12.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.1%
Dividend (yield on the price)5.8%
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.−9.1% vs 3.1%, slowing
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.9% → 10%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+12.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +10.2% a year for the price and 0.0% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (86 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
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.Metal Fabrication · 255 stocks
Beats the industry median on 10/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside+7.8% · Above median
Profitability
Return on equity (12 months)9.9% · Above median
Return on assets1.9% · Below median
Net margin (12 months)3.4% · Below median
Operating margin (12 months)6.7% · Above median
Growth and dividend
Revenue growth (quarter YoY)−4.9% · Bottom 25%
Dividend yield (12 months)5.8% · Top 25%
Balance sheet
Debt / equity1.32× · Highest 25%
Valuation Multiplesvs Metal Fabrication median · lower = cheaper
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Is RHI Magnesita NV (RHIM) overvalued or undervalued?
As of Oct 27, 2026, our model estimates a fair value of £28.24 versus a price of £26.20, about +8% upside (fairly valued).
What is the fair value of RHIM?
Our model-based fair value for RHI Magnesita NV is £28.24 (as of Oct 27, 2026), built from audited fundamentals. The current price: £26.20.
What is the quality score of RHIM?
RHI Magnesita NV has a Quality Score of 49/100. 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 RHI Magnesita NV (RHIM)?
Our model-based price target is the fair value of £28.24 (as of Oct 27, 2026) from 25 valuation models. Cautious scenario £19.04, optimistic scenario £36.50. It is a calculation from audited fundamentals, not an analyst target.
What is the RHI Magnesita NV stock forecast for 2026?
Our models put fair value at £28.24, about +8% upside versus a price of £26.20 (fairly valued). Cautious scenario £19.04, optimistic scenario £36.50. The calculation is refreshed regularly with new filings.
What is the revenue of RHI Magnesita NV (RHIM)?
RHI Magnesita NV reported trailing-twelve-month revenue of about €3.3B (latest available figure, as of Oct 27, 2026).
Does RHI Magnesita NV pay a dividend?
RHI Magnesita NV currently shows a dividend yield of 5.76% relative to its recent price (as of Oct 27, 2026).
What growth is priced into RHI Magnesita NV (RHIM)?
For today's price to be fair in a discounted-cash-flow model, RHI Magnesita NV would have to grow free cash flow by +12.6 % per year for five years (discount rate 13.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.9 % per year. As of Oct 27, 2026.
What discount rate (WACC) does the fair value of RHIM use?
Our models discount RHI Magnesita NV at 13.0 %: a base by market capitalisation (small), damped by beta 1.41, country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For RHI Magnesita NV that is +12.6 % per year a year over ten years, using the same discount rate (13.0 %) and the same formula as our fair value.
How much growth has RHI Magnesita NV (RHIM) delivered so far?
Over the past 5 years revenue at RHI Magnesita NV grew +7.9 % a year. The price currently implies +12.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of RHI Magnesita NV (RHIM) growing?
The median revenue growth in the sector is +9.5 % a year. That is the yardstick for the growth priced into RHI Magnesita NV (+12.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of RHI Magnesita NV (RHIM)?
The free-cash-flow yield on the price is 12.06 %: that much free cash flow RHI Magnesita NV produces per unit of market value. When it exceeds the discount rate of our models (13.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of RHI Magnesita NV (RHIM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For RHI Magnesita NV it is £28.24 per share (as of Oct 27, 2026), against a price of £26.20. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is RHI Magnesita NV stock overvalued or undervalued in 2026?
As of Oct 27, 2026, RHIM trades below its calculated fair value: price £26.20, fair value £28.24, a gap of about +8% (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 RHIM?
No. The price is what the market pays today (£26.20); the fair value is what the company's own numbers justify (£28.24). For RHI Magnesita NV the two are £2.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is RHI Magnesita NV worth?
The market values RHI Magnesita NV at about £1.3B (market capitalisation, as of Oct 27, 2026). Per share that is £26.20; our models calculate a fair value of £28.24 per share.
What do the bullish and bearish scenarios say about RHIM?
Our models span a range for RHI Magnesita NV: cautious scenario £19.04, base £28.24, optimistic £36.50 per share (as of Oct 27, 2026, price £26.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of RHIM?
RHI Magnesita NV trades at a price-to-earnings ratio of 13.2 (as of Oct 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £28.24 is built from several models across several years. Other multiples: PEG 0.7, P/B 1.7, P/S 0.5, EV/EBITDA 6.1.
What is the PEG ratio of RHIM?
The PEG ratio of RHI Magnesita NV is 0.68 (P/E divided by earnings growth, as of Oct 27, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of RHI Magnesita NV (RHIM)?
Balance-sheet figures for RHI Magnesita NV (as of Oct 27, 2026): return on equity 9.9%, debt of 1.32 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is RHIM from its 52-week high?
RHI Magnesita NV trades at £26.20, about 17% below its 52-week high of £31.69 and 39% above the low of £18.89 (as of Oct 26, 2026). Distance from the high says nothing about value: that is what the fair value of £28.24 is for.
Which stocks are comparable to RHI Magnesita NV?
From the same area (Industrials) we also value ATI Inc, Carpenter Technology Corporation, Mueller Industries, Inc, Bharat Forge 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 RHI Magnesita NV stock attractive at the current price?
The data as of Oct 27, 2026: price £26.20, calculated fair value £28.24 (+8%), Quality Score 49/100, from 25 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 RHIM calculated?
We run RHI Magnesita NV through 25 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 £28.24, 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 12.7 % above its aggregate fair value. RHI Magnesita NV currently trades 7 % 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 RHI Magnesita NV (RHIM)?
The closing price on Oct 26, 2026 was £26.20. Our model-based fair value is £28.24, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with RHI Magnesita NV right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (£19.04 to £36.50) leaves room in how you read the outcome.
Where does the earnings growth of RHI Magnesita NV (RHIM) come from?
Earnings per share at RHI Magnesita NV grew +10.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.3 %, EBIT margin +2.2 %, tax rate +1.2 %, residual (interest, one-offs) +0.2 %. 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 RHI Magnesita NV
How large is the market capitalisation of RHI Magnesita NV (RHIM)?
The market capitalisation of RHI Magnesita NV is £1.3B. 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 RHI Magnesita NV (RHIM)?
The price-to-sales ratio of RHI Magnesita NV is 0.52 (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 RHI Magnesita NV (RHIM)?
Earnings per share at RHI Magnesita NV are £1.98 (price ÷ EPS = P/E 13.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of RHI Magnesita NV (RHIM)?
The dividend yield of RHI Magnesita NV is 5.8% (payout 76.2%). 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 RHI Magnesita NV (RHIM)?
The net margin of RHI Magnesita NV is 3.4% (last twelve months). 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 RHI Magnesita NV (RHIM)?
The return on equity (ROE) of RHI Magnesita NV is 9.9% (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 RHI Magnesita NV (RHIM)?
On an EBIT basis the return on assets of RHI Magnesita NV is 6.8% (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 RHI Magnesita NV (RHIM)?
The operating margin of RHI Magnesita NV is 6.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at RHI Magnesita NV (RHIM)?
Revenue at RHI Magnesita NV is growing −4.9% versus a year earlier (3y avg −0.1%). 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 RHI Magnesita NV (RHIM)?
Earnings per share at RHI Magnesita NV are growing +364% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does RHI Magnesita NV (RHIM) carry?
The net debt of RHI Magnesita NV is €1.5B (fiscal year 2025, ≈ 8.1 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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Broad data
Oct 27, 2026