Santierul Naval Orsova SA (SNO) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Santierul Naval Orsova SA RON 16.40, price RON 25.00, upside -34.4%, quality 75 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 24, 2026.
How to read this chart
60‑month range 2.73 RON – 29.20 RON · fair‑value band 10.54 RON – 21.31 RON · the 25.00 RON price screens above the 16.40 RON fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Santierul Naval Orsova S.A. engages in the construction of river ships and floating structures in Romania. The company produces chemical tankers, container ships, gas tankers, salanda vessels, push-combination vessels, river and sea pontoons, barges, self-propelled barges, mixed barges, ro-ro barges, and ferry boats for people, cars and trucks.
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Santierul Naval Orsova S.A. engages in the construction of river ships and floating structures in Romania. The company produces chemical tankers, container ships, gas tankers, salanda vessels, push-combination vessels, river and sea pontoons, barges, self-propelled barges, mixed barges, ro-ro barges, and ferry boats for people, cars and trucks. It is also involved in renting ships; and logistics activities, as well as repairing of ships. Santierul Naval Orsova S.A. was founded in 1890 and is headquartered in Orsova, Romania.
Stock analysis
Santierul Naval Orsova SA (SNO) currently trades at 25.00 RON, while our model-based Fair Value estimate is 16.40 RON, implying the stock looks roughly 52.4% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 18.10 RON per share, and 3 of the 26 models we run sit above the 25.00 RON price.
Bear case: the Economic Profit group reads lowest at 3.48 RON, and 23 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 10.54 RON (bear) to 21.31 RON (bull), the price of 25.00 RON sits above 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 75/100 (high quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Santierul Naval Orsova SA reported revenue of 114M RON in FY2025 versus 72.9M RON in FY2021, a compound +11.9%/yr. Reported net income was 8.8M RON in FY2025.
Key figures
Market cap 286M RON (≈ $61.7M) · P/E ratio 22.1 · P/S ratio 1.69 · EPS (TTM) 1.13 RON · Dividend yield 3.7% · Net margin 7.7% · Return on equity 13.6% · Return on assets (EBIT) −0.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 237% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −20% fair-value upside, at −34%, SNO screens richer than that median.
Fair Value models
Bear 10.54 RONFair Value 16.40 RONBull 21.31 RON
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. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (1.11 RON 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.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.92/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+26.9%
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.
+26.9%
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.
+10.5%
Start year 2020 (pandemic)
Revenue growth 6 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.
+10.9%
’19
’20
’21
’22
’23
’24
’25
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.
+33.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.4%
Dividend (yield on the price)3.7%
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.−3% → 3%
2025 sits 87% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+16.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Romania: IMF forecast 4.3% a year to 2030, 5.2% from 2016 to 2025) that is about +11.3% a year for the price.
Compare Santierul Naval Orsova SA with another stock
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.Aerospace & Defense · 230 stocks
Beats the industry median on 13/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score75 · Top 25%
Fair Value upside−34% · Above median
Profitability
Return on equity (TTM)14% · Above median
Return on assets6% · Top 25%
Net margin (TTM)11% · Above median
Operating margin (TTM)16% · Above median
Growth and dividend
Revenue growth36% · Top 25%
Dividend yield (TTM)3.7% · Top 25%
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
P/E (TTM)22.1× · Cheapest 25%
P/B0.65× · Cheapest 25%
P/S (TTM)0.50× · Cheapest 25%
P/FCF5.4× · Cheaper than median
EV/EBITDA2.9× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 46
PAST (return on equity)54· sector 37
HEALTH (low debt)0· sector 93
DIVIDEND (yield)74· sector 17
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Santierul Naval Orsova SA Fair Value". https://www.fairvalue-calculator.com/stock/SNO
Frequently asked questions
Is Santierul Naval Orsova SA (SNO) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 16.40 RON versus a price of 25.00 RON, about −34% upside (overvalued).
What is the fair value of SNO?
Our model-based fair value for Santierul Naval Orsova SA is 16.40 RON (as of Sep 24, 2026), built from audited fundamentals. The current price: 25.00 RON.
What is the quality score of SNO?
Santierul Naval Orsova SA has a Quality Score of 75/100. 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 Santierul Naval Orsova SA (SNO)?
Our model-based price target is the fair value of 16.40 RON (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 10.54 RON, optimistic scenario 21.31 RON. It is a calculation from audited fundamentals, not an analyst target.
What is the Santierul Naval Orsova SA stock forecast for 2026?
Our models put fair value at 16.40 RON, about −34% upside versus a price of 25.00 RON (overvalued). Cautious scenario 10.54 RON, optimistic scenario 21.31 RON. The calculation is refreshed regularly with new filings.
What is the revenue of Santierul Naval Orsova SA (SNO)?
Santierul Naval Orsova SA reported trailing-twelve-month revenue of about 122M RON (latest available figure, as of Sep 24, 2026).
Does Santierul Naval Orsova SA pay a dividend?
Santierul Naval Orsova SA currently shows a dividend yield of about 3.72% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Santierul Naval Orsova SA (SNO)?
For today's price to be fair in a discounted-cash-flow model, Santierul Naval Orsova SA would have to grow free cash flow by +16.1 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of SNO use?
Our models discount Santierul Naval Orsova SA at 10.9 %: a base by market capitalisation (nano), damped by beta 0.51, country premium for Romania. 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 Santierul Naval Orsova SA that is +16.1 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Santierul Naval Orsova SA (SNO) delivered so far?
Over the past 5 years revenue at Santierul Naval Orsova SA grew +10.5 % a year. The price currently implies +16.1 % 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 Santierul Naval Orsova SA (SNO) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Santierul Naval Orsova SA (+16.1 % 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 Santierul Naval Orsova SA (SNO)?
The free-cash-flow yield on the price is 3.96 %: that much free cash flow Santierul Naval Orsova SA produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Santierul Naval Orsova SA (SNO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Santierul Naval Orsova SA it is 16.40 RON per share (as of Sep 24, 2026), against a price of 25.00 RON. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Santierul Naval Orsova SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SNO trades above its calculated fair value: price 25.00 RON, fair value 16.40 RON, a gap of about −34% (overvalued). 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 SNO?
No. The price is what the market pays today (25.00 RON); the fair value is what the company's own numbers justify (16.40 RON). For Santierul Naval Orsova SA the two are 8.60 RON per share apart. That gap is exactly why we show both numbers side by side.
How much is Santierul Naval Orsova SA worth?
The market values Santierul Naval Orsova SA at about 286M RON (market capitalisation, as of Sep 24, 2026). Per share that is 25.00 RON; our models calculate a fair value of 16.40 RON per share.
What do the bullish and bearish scenarios say about SNO?
Our models span a range for Santierul Naval Orsova SA: cautious scenario 10.54 RON, base 16.40 RON, optimistic 21.31 RON per share (as of Sep 24, 2026, price 25.00 RON). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SNO?
Santierul Naval Orsova SA trades at a price-to-earnings ratio of 22.1 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 16.40 RON is built from several models across several years. Other multiples: P/B 0.7, P/S 0.5, EV/EBITDA 2.9.
How solid is the balance sheet of Santierul Naval Orsova SA (SNO)?
Balance-sheet figures for Santierul Naval Orsova SA (as of Sep 24, 2026): return on equity 13.6%. They feed the Quality Score of 75/100, which measures business quality independently of the share price.
How far is SNO from its 52-week high?
Santierul Naval Orsova SA trades at 25.00 RON, about 14% below its 52-week high of 29.20 RON and 237% above the low of 7.42 RON (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 16.40 RON is for.
Which stocks are comparable to Santierul Naval Orsova SA?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Safran SA, 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 Santierul Naval Orsova SA stock attractive at the current price?
The data as of Sep 24, 2026: price 25.00 RON, calculated fair value 16.40 RON (−34%), Quality Score 75/100, from 26 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 SNO calculated?
We run Santierul Naval Orsova SA through 26 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 16.40 RON, 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 13.2 % above its aggregate fair value. Santierul Naval Orsova 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 Santierul Naval Orsova SA (SNO)?
The closing price on Sep 24, 2026 was 25.00 RON. Our model-based fair value is 16.40 RON, about −34% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Santierul Naval Orsova SA right now?
A high-quality business (quality 75/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (21.31 RON). The favourable scenario is already priced in. A fairly wide model range (10.54 RON to 21.31 RON) leaves room in how you read the outcome.
Key figures of Santierul Naval Orsova SA
How large is the market capitalisation of Santierul Naval Orsova SA (SNO)?
The market capitalisation of Santierul Naval Orsova SA is 286M RON (≈ $61.7M). 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 Santierul Naval Orsova SA (SNO)?
The price-to-sales ratio of Santierul Naval Orsova SA is 1.69 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Santierul Naval Orsova SA (SNO)?
Earnings per share at Santierul Naval Orsova SA are 1.13 RON (price ÷ EPS = P/E 22.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Santierul Naval Orsova SA (SNO)?
The dividend yield of Santierul Naval Orsova SA is 3.7% (payout 82.2%). 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 Santierul Naval Orsova SA (SNO)?
The net margin of Santierul Naval Orsova SA is 7.7% (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 Santierul Naval Orsova SA (SNO)?
The return on equity (ROE) of Santierul Naval Orsova SA is 13.6% (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 Santierul Naval Orsova SA (SNO)?
On an EBIT basis the return on assets of Santierul Naval Orsova SA is −0.9% (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 Santierul Naval Orsova SA (SNO)?
The operating margin of Santierul Naval Orsova SA is 15.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Santierul Naval Orsova SA (SNO)?
Revenue at Santierul Naval Orsova SA is growing +36.1% versus a year earlier (3y avg +26.9%). 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 Santierul Naval Orsova SA (SNO)?
Earnings per share at Santierul Naval Orsova SA are growing +600% versus a year earlier. How much earnings per share grew versus a year earlier.
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