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Sphera Franchise Group (SFG) Fair Value & Analysis

Consumer Cyclical · RO · Market cap 1.4B RON

SF Sphera Franchise Group SFG · RO
Price37.80 RON
Fair Value29.16 RON
Upside-22.9%
Quality61/100
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Healthy Growth
Thin margins · 3.4% net margin
Moderate debt · generates free cash flow
5.60% dividend yield
Mixed vs. peers (7/14)
Moderate moat 55/100
Evidence: High Range 21.87 RON – 36.45 RON Share as image

Fair value as of: Jul 18, 2026

From 26 valuation models · updated 23 days ago

Share price +0.8% over the past month.

A solid business, but screening 23% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (36.45 RON). The favourable scenario is already priced in.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

39.69 RON 9.87 RON Fair Value 29.16 RON Feb 2021 Jun 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 9.87 RON – 39.69 RON · fair‑value band 21.87 RON – 36.45 RON · the 37.80 RON price screens above the 29.16 RON fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Sphera Franchise Group (SFG) currently trades at 37.80 RON, while our model-based Fair Value estimate is 29.16 RON, implying the stock looks roughly 22.9% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Consumer Cyclical 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: high).

Over the trailing twelve months, Sphera Franchise Group generated revenue of 1.6B RON at a net margin of 3.4%. Revenue grew 3.9% year over year. It earns a return on equity of 37.6%. Net debt stands at 110M RON. Fundamentals as of Jul 18, 2026

Our scenario range runs from 21.87 RON (bear case) to 36.45 RON (bull case); at 37.80 RON, the current price sits above 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 4% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -47% fair-value upside, at -23%, SFG screens cheaper 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 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
Growth DCF 31.19 RON 47.91 RON 70.70 RON 80
Residual Income 7.33 RON 8.78 RON 30.22 RON 76
Rev-Margin DCF 25.21 RON 40.83 RON 59.97 RON 74
All 26 models by family
DCF Models
FCF DCF 31.34 RON 49.55 RON 75.57 RON 38
Owner Earnings 28.86 RON 45.71 RON 69.78 RON 31
5Y Revenue Exit 25.21 RON 40.77 RON 60.85 RON 39
5Y EBITDA Exit 43.43 RON 76.51 RON 116.57 RON 41
5Y P/E Exit 23.06 RON 36.56 RON 51.03 RON 38
10Y Revenue Exit 26.61 RON 40.97 RON 60.94 RON 36
10Y EBITDA Exit 38.09 RON 64.24 RON 101.56 RON 37
10Y P/E Exit 25.99 RON 38.23 RON 53.79 RON 35
Earnings-Based
Graham-Dodd 9.92 RON 38.32 RON 51.96 RON 54
Lynch FV 9.38 RON 13.40 RON 17.42 RON 50
PEG = 1.0 9.38 RON 13.40 RON 17.42 RON 46
EPV 14.95 RON 17.23 RON 19.12 RON 59
Dividend Discount
Gordon GGM 15.85 RON 28.57 RON 39.33 RON 70
DDM Multi-Stage 15.85 RON 26.09 RON 30.52 RON 61
Multiples
P/E Multiple 21.87 RON 29.16 RON 36.45 RON 63
P/S Multiple 18.59 RON 24.79 RON 30.98 RON 58
P/B Multiple 7.36 RON 9.82 RON 12.27 RON 55
EV/EBIT 33.92 RON 45.82 RON 57.71 RON 53
EV/EBITDA 57.09 RON 76.70 RON 96.31 RON 54
EV/Revenue 22.30 RON 32.60 RON 42.91 RON 43
Asset-Based
NCAV (Graham) 1.64 RON 2.19 RON 3.27 RON 50
Growth DCF
Growth DCF 31.19 RON 47.91 RON 70.70 RON 80
Rev-Margin DCF 25.21 RON 40.83 RON 59.97 RON 74
Economic Profit
Residual Income 7.33 RON 8.78 RON 30.22 RON 76
ROIC Compounder 16.14 RON 19.99 RON 24.13 RON 72
Growth Earnings
Growth-Adj P/E 16.42 RON 23.46 RON 30.49 RON 68

Widest divergence: DCF Models (40.97 RON) versus Asset-Based (2.19 RON). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.6B RON
Revenue growth (YoY) +3.9%
Net margin 3.4%
Return on equity 37.6%
Free cash flow 128M RON FY2025
P/E ratio 26.5
More key figures
Operating margin 3.5%
EPS (TTM) 1.41 RON
Dividend yield 5.6%
EPS growth (YoY) -32.2%
Net debt 110M RON FY2025

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

Quality Score breakdown

Overall quality 61/100

Of which business quality 58 · Market factors (momentum, volatility) 59

Profitability 61
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 39
Balance sheet, leverage, solvency risk
Investment 85
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 54
Distance to the 52-week high (market factor)
Net Issuance 84
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

Sphera Franchise Group S.A., together with its subsidiaries, operates quick service and takeaway restaurants. The company operates in three segments, Quick-Service Restaurants; Full-Service Restaurants; and Artisanal desert and cafes. It operates restaurants under the Kentucky Fried Chicken (KFC) brand in Romania, the Republic of Moldova, and Italy.

Full company description

Sphera Franchise Group S.A., together with its subsidiaries, operates quick service and takeaway restaurants. The company operates in three segments, Quick-Service Restaurants; Full-Service Restaurants; and Artisanal desert and cafes. It operates restaurants under the Kentucky Fried Chicken (KFC) brand in Romania, the Republic of Moldova, and Italy. The company also operates a chain of pizza restaurants under the Pizza Hut (PH) brand name, as well as a chain of restaurants under the Taco Bell brand in Romania. The company also provides gelato, chocolate-based products, gourmet coffee, and Italian pastries under the Cioccolatitaliani brand name. Sphera Franchise Group S.A. was incorporated in 2017 and is headquartered in Bucharest, Romania.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sphera Franchise Group reported revenue of 1.6B RON in FY2025 versus 1.0B RON in FY2021, a compound +12.0%/yr. Reported net income was 56.3M RON in FY2025, compounding +32.2%/yr from FY2021.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.6B RON
Latest YoY
+1.8%
Avg. 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.
+6.1%
Avg. 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.
+17.3%
Revenue +12.0%/yr
FY21 1.0B RON
FY22 1.3B RON
FY23 1.5B RON
FY24 1.6B RON
FY25 1.6B RON
Net income +32.2%/yr
FY21 18.4M RON
FY22 37.6M RON
FY23 71.2M RON
FY24 96.8M RON
FY25 56.3M RON

SFG screens 23% overvalued. Compare with McDonald's Corporation →

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Cite: Fair Value Calculator (2026). "Sphera Franchise Group Fair Value". https://www.fairvalue-calculator.com/stock/SFG

Peer Group

Restaurants · 227 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 61 · Above median
Fair Value upside −23% · Below median
Return on equity (TTM) 38% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 3% · Above median
Operating margin (TTM) 4% · Below median
Revenue growth 4% · Below median
Dividend yield (TTM) 5.6% · Top 25%
Debt / equity 0.84× · Higher than 75% of peers

Valuation Multiples vs Restaurants median · lower = cheaper

P/E (TTM) 26.5× · Pricier than median
P/B 2.52× · Pricier than median
P/S (TTM) 0.20× · Cheaper than median
P/FCF 2.5× · Pricier than median
EV/EBITDA 2.4× · Cheaper than 75% of peers

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 3 · sector 28
FUTURE 20 · sector 20
PAST 100 · sector 16
HEALTH 58 · sector 97
DIVIDEND 100 · sector 58

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

Stock Price Fair Value vs Fair Value
McDonald's Corporation MCDS C$24.01 C$10.84 -55%
Starbucks Corporation SBUX $105.49 $35.83 -66%
Chipotle Mexican Grill, Inc CMG $34.63 $18.43 -47%
Yum! Brands, Inc YUM $163.54 $59.66 -64%
Restaurant Brands International Inc QSR C$104.19 C$36.37 -65%
Darden Restaurants, Inc DRI $195.74 $173.68 -11%
Yum China Holdings YUMC $43.90 $55.10 +26%
Texas Roadhouse, Inc TXRH $197.03 $104.89 -47%
Dutch Bros Inc BROS $68.36 $12.80 -81%
Domino's Pizza, Inc DPZ $322.18 $231.96 -28%

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Frequently asked questions

Is Sphera Franchise Group (SFG) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of 29.16 RON versus a price of 37.80 RON, about −23% (overvalued).
What is the fair value of SFG?
Our model-based fair value for Sphera Franchise Group is 29.16 RON (as of Jul 18, 2026), built from audited fundamentals. The current price is 37.80 RON.
What is the quality score of SFG?
Sphera Franchise Group has a Quality Score of 61/100. 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 Sphera Franchise Group (SFG)?
Sphera Franchise Group reported trailing-twelve-month revenue of about 1.6B RON (latest available figure, as of Jul 18, 2026).
What is the net profit margin of SFG?
The net profit margin of Sphera Franchise Group is about 3.4%, meaning it keeps roughly 3.4% of revenue as net income. Based on the latest reported figures.
Does Sphera Franchise Group pay a dividend?
Sphera Franchise Group currently shows a dividend yield of about 5.60% 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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