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RIAS A/S (RIAS-B) Fair Value & Analysis

Basic Materials · DK · Market cap 152M DKK (≈ $23.7M) · ISIN DK0010125848

What is RIAS A/S really worth?

RA RIAS A/S RIAS-B · CO
Pricekr 670.00
Fair Valuekr 817.51
Upside+22.0%
Quality62/100

A solid business, trading 18% below our fair value of kr 817.51.

As of Aug 20, 2026, the fair value of RIAS A/S is kr 817.51 per share against a price of kr 670.00, so the fair value sits 22% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

generates free cash flow

Risks

!Weak Growth (revenue 5y +0.6 %/yr)
!Thin margins · 1.1% net margin
!Trails peers (5/14)
!Narrow moat 24/100
!Weak on past: 7 out of 100

For context

·3.88% dividend yield
Evidence: High Range kr 613.14 – kr 1,022

Fair value as of: Aug 20, 2026

From 24 valuation models · updated 16 days ago

Share price +1.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
  • The price sits in the lower half of our model range, the side with the larger margin of safety.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

kr 745.00 kr 261.26 Fair Value kr 817.51 Dec 2019 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range kr 261.26 – kr 745.00 · fair‑value band kr 613.14 – kr 1,022 · the kr 670.00 price screens below the kr 817.51 fair value. Dashed = 300-day average. As of Aug 20, 2026.

Full chart & analysis →

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Analysis

RIAS A/S (RIAS-B) currently trades at kr 670.00, while our model-based Fair Value estimate is kr 817.51, implying the stock looks roughly 18.0% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Basic Materials sector. Bull case: the Multiples group reads highest at a median of kr 817.51 per share, and 15 of the 24 models we run sit above the kr 670.00 price. Bear case: the Dividend Discount group reads lowest at kr 343.81, and 9 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, RIAS A/S generated revenue of 300M DKK at a net margin of 1.1%. Revenue declined 2.1% year over year. It earns a return on equity of 1.8%. The balance sheet holds a net cash position of 29.6M DKK. Fundamentals as of Aug 20, 2026

Our scenario range runs from kr 613.14 (bear case) to kr 1,022 (bull case); at kr 670.00, 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 11% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −56% fair-value upside, at 22%, RIAS-B screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF best evidence kr 499.72 kr 572.94 kr 705.83 80
Growth DCF kr 506.40 kr 575.91 kr 691.34 77
Residual Income kr 676.19 kr 672.14 kr 582.06 76
All 24 models by family
DCF Models
FCF DCF best evidence kr 499.72 kr 572.94 kr 705.83 80
Owner Earnings kr 695.55 kr 812.54 kr 1,025 75
5Y Revenue Exit kr 620.81 kr 833.77 kr 1,155 71
5Y EBITDA Exit kr 705.50 kr 977.11 kr 1,349 73
5Y P/E Exit kr 606.90 kr 810.24 kr 1,062 69
10Y Revenue Exit kr 548.97 kr 705.42 kr 883.19 66
10Y EBITDA Exit kr 605.35 kr 785.93 kr 989.91 67
10Y P/E Exit kr 553.61 kr 692.20 kr 832.13 63
Earnings-Based
Graham-Dodd kr 327.01 kr 529.45 kr 639.43 67
EPV kr 529.05 kr 571.87 kr 606.62 70
Dividend Discount
Gordon GGM kr 298.11 kr 343.81 kr 388.77 69
DDM Multi-Stage kr 298.11 kr 364.75 kr 434.74 67
Multiples
P/E Multiple kr 613.14 kr 817.51 kr 1,022 63
P/S Multiple kr 613.14 kr 817.51 kr 1,022 58
P/B Multiple kr 613.14 kr 817.51 kr 1,022 55
EV/EBIT kr 865.16 kr 1,096 kr 1,327 63
EV/EBITDA kr 999.98 kr 1,276 kr 1,552 64
EV/Revenue kr 772.77 kr 1,030 kr 1,287 52
Asset-Based
NCAV (Graham) kr 483.48 kr 647.86 kr 966.96 51
Growth DCF
Growth DCF kr 506.40 kr 575.91 kr 691.34 77
Rev-Margin DCF kr 620.81 kr 842.75 kr 1,122 71
Economic Profit
Residual Income kr 676.19 kr 672.14 kr 582.06 76
ROIC Compounder kr 529.05 kr 571.87 kr 606.62 70
Growth Earnings
Growth-Adj P/E kr 436.80 kr 624.00 kr 811.21 67

Widest divergence: Multiples (kr 817.51) versus Dividend Discount (kr 343.81). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 47.4 as of May 31, 2026
P/S ratio 1.50 P/E × margin
EPS (TTM) kr 14.56 price ÷ EPS = P/E 47.4
Dividend yield 3.9% payout 179%
Net margin 3.2% FY2025
Return on equity 1.8% TTM
More key figures
Profitability
Return on assets (EBIT) 7.0% avg 5y
Operating margin −2.4% TTM
Growth
Revenue (TTM) 300M DKK TTM
Revenue growth (YoY) −2.1% 3y avg −3.6%
EPS growth (YoY) −29.9%
Balance sheet & cash flow
Free cash flow 8.8M DKK FY2025
Net cash 29.6M DKK FY2025

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 63 · Market factors (momentum, volatility) 56

Profitability 50
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 44
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

RIAS A/S processes, sells, and distributes of semi-finished plastic products in Denmark, Sweden, and internationally. The company offers roof solutions, including thermoplates, trapezoidal sheets, gutters, skylight panels, sunlux sinusoidal wave plates, onduline corrugated sheets, hobby boards, substrate, and moisture insulation sheets.

Full company description

RIAS A/S processes, sells, and distributes of semi-finished plastic products in Denmark, Sweden, and internationally. The company offers roof solutions, including thermoplates, trapezoidal sheets, gutters, skylight panels, sunlux sinusoidal wave plates, onduline corrugated sheets, hobby boards, substrate, and moisture insulation sheets. It also offers semi-finished plastic products, such as plates, rods, tubes, foils, and accessories. It serves building, construction, chemical, machinery, offshore, food, furniture and packaging, public, and visual communication sectors. RIAS A/S was founded in 1959 and is headquartered in Roskilde, Denmark. RIAS A/S operates as a subsidiary of thyssenkrupp Facilities Services GmbH.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

RIAS A/S reported revenue of 303M DKK in FY2025 versus 308M DKK in FY2021, a compound −0.4%/yr. Reported net income was 9.6M DKK in FY2025, compounding −6.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
303M DKK
Latest YoY
−5.0%
Avg. revenue 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.
−3.6%
Avg. revenue 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.
+0.6%
Avg. revenue growth/yr (20Y) 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.
+0.7%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+6.2% · in DKK
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+2.3%
Dividend yield3.9%
Trend 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.5Y 2.3% vs 10Y 4.4%, steady
Operating margin (EBIT) 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.4.5% (2020) → 4.3% (2025) · steady
Worst earnings drop75% (2009) · in DKK
Revenue −0.4%/yr
FY21 308M DKK
FY22 339M DKK
FY23 313M DKK
FY24 319M DKK
FY25 303M DKK
Net income −6.6%/yr
FY21 12.6M DKK
FY22 17.0M DKK
FY23 12.5M DKK
FY24 13.6M DKK
FY25 9.6M DKK
Character of growth · EPS growth decomposed (2014-2025) +8.0 % p.a.
Revenue per share +1.6 %

of which total revenue +1.6 % · buybacks/dilution +0.0 %

EBIT margin +6.7 %
Tax rate −0.1 %
Residual (interest, one-offs) −0.3 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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

Peer Group

Building Materials · 258 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 62 · Top 25%
Fair Value upside +22% · Above median
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) −2% · Below median
Revenue growth −2% · Below median
Dividend yield (TTM) 3.9% · Above median

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 47.4× · Pricier than 75% of peers
P/B 0.79× · Cheaper than median
P/S (TTM) 0.51× · Cheaper than median
P/FCF 2.7× · Pricier than median
EV/EBITDA 9.1× · Pricier than median
PEG 2.15× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE63 · sector 18
FUTURE0 · sector 2
PAST7 · sector 15
HEALTH0 · sector 92
DIVIDEND78 · sector 44

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 Building Materials stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $96.05 $69.69 −27%
Holcim AG HOLN CHF 71.04 CHF 20.00 −72%
Vulcan Materials Company VMC $259.69 $114.48 −56%
UltraTech Cement Limited ULTRACEMCO ₹11,891 ₹4,718 −60%
Heidelberg Materials AG HEI €170.05 €167.96 −1%
Martin Marietta Materials, Inc MLM $543.90 $215.31 −60%
China Jushi Co 600176 ¥40.56 ¥13.22 −67%
Amrize AG AMRZ CHF 37.65 CHF 29.67 −21%
Grasim Industries Limited GRASIM ₹3,293 ₹1,245 −62%
CEMEX, S.A. CX $11.24 $11.31 +1%

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Frequently asked questions

Is RIAS A/S (RIAS-B) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of kr 817.51 versus a price of kr 670.00, about +22% upside (undervalued).
What is the fair value of RIAS-B?
Our model-based fair value for RIAS A/S is kr 817.51 (as of Aug 20, 2026), built from audited fundamentals. The current price: kr 670.00.
What is the quality score of RIAS-B?
RIAS A/S has a Quality Score of 62/100. 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 RIAS A/S (RIAS-B)?
RIAS A/S reported trailing-twelve-month revenue of about 300M DKK (latest available figure, as of Aug 20, 2026).
What is the net profit margin of RIAS-B?
The net profit margin of RIAS A/S is about 1.1%, meaning it keeps roughly 1.1% of revenue as net income. Based on the latest reported figures.
Does RIAS A/S pay a dividend?
RIAS A/S currently shows a dividend yield of about 3.88% relative to its recent price (as of Aug 20, 2026).
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