Whitestone Group (ROCK) Fair Value & Analysis
Industrials · BE · Market cap €173M
Fair value as of: Aug 6, 2026
From 13 valuation models · updated today
Fair value updated Aug 6, 2026, revised from €0.1700 to €2.01 (+1,082.4%) since Jul 25, 2026. Share price −1.1% over the past month.
A solid business, but screening 88% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (€2.71). The favourable scenario is already priced in.
- Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.
How to read this chart
60‑month range €3.00 – €77.00 · fair‑value band €1.86 – €2.71 · the €17.30 price screens above the €2.01 fair value. Dashed = 300-day average. As of Aug 6, 2026.
Analysis
Whitestone Group (ROCK) currently trades at €17.30, while our model-based Fair Value estimate is €2.01, implying the stock looks roughly 88.4% overvalued today. We read business quality at 62/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Whitestone Group generated revenue of €226M at a net margin of -1.0%. Revenue declined 9.8% year over year. It earns a return on equity of -5.5%. Net debt stands at €18.7M. Fundamentals as of Aug 6, 2026
Our scenario range runs from €1.86 (bear case) to €2.71 (bull case); at €17.30, the current price sits above that range. The share trades about 3% below its 52-week high and 41% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at -88%, ROCK 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.
All 13 models by family
Widest divergence: Asset-Based (€4.97) versus Economic Profit (€1.93). Highest evidence: Growth-Adj P/E (68).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 66
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
Whitestone Group SA engages in third-party asset management activities. It is also involved in private equity activities; invests in small and medium-sized enterprises; and manages a SICAV-SIF to investors, through a multi-asset fund, such as equities, bonds, and cash.
Full company description
Whitestone Group SA engages in third-party asset management activities. It is also involved in private equity activities; invests in small and medium-sized enterprises; and manages a SICAV-SIF to investors, through a multi-asset fund, such as equities, bonds, and cash. The company was formerly known as EVADIX SA and changed its name to Whitestone Group SA in September 2021. Whitestone Group SA was founded in 1999 and is based in Lasne, Belgium.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Whitestone Group reported revenue of €349M in FY2025 versus €83.8M in FY2021, a compound +42.9%/yr. Reported net income was €1.0M in FY2025.
ROCK screens 88% overvalued. Compare with Cintas Corporation →
Peer Group
Specialty Business Services · 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.
Valuation Multiples vs Specialty Business Services median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Cintas Corporation CTAS | $206.25 | $95.30 | -54% |
| RELX PLC RELX | $33.70 | $32.49 | -4% |
| Thomson Reuters Corporation TRI | C$133.87 | C$70.40 | -47% |
| Copart, Inc CPRT | $27.61 | $28.59 | +4% |
| Global Payments Inc GPN | $80.49 | $69.67 | -13% |
| RB Global, Inc RBA | C$156.43 | C$49.14 | -69% |
| UL Solutions Inc ULS | $87.76 | $33.62 | -62% |
| Brambles Limited BXB | A$18.79 | A$12.28 | -35% |
| Wolters Kluwer N.V WKL | €62.56 | €103.99 | +66% |
| Aramark ARMK | $56.74 | $13.73 | -76% |
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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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