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Sonae, SGPS, S.A (SON) Fair Value & Analysis

Consumer Defensive · PT · Market cap €3.8B

SS Sonae, SGPS, S.A SON · LS
Price€1.98
Fair Value€2.25
Upside+13.9%
Quality86/100
Evidence: Medium Range €1.69 – €2.82

Fair value as of: Jun 24, 2026

From 26 valuation models · updated 5 days ago

Share price +2.3% over the past month.

Price vs Fair Value (12 months)

€1.98 €1.14 Fair Value €2.25 Jun 2025 Jun 2026

12‑month range €1.14 – €1.98 · fair‑value band €1.69 – €2.82 · the €1.98 price screens below the €2.25 fair value. As of Jun 24, 2026.

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Analysis

Sonae, SGPS, S.A (SON) currently trades at €1.98, while our model-based Fair Value estimate is €2.25 — implying the stock looks roughly 13.9% undervalued today. We read business quality at 86/100 (high quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium) — always confirm before acting.

Over the trailing twelve months, Sonae, SGPS, S.A generated revenue of €11.7B at a net margin of 1.8%. Revenue grew 7.4% year over year. It earns a return on equity of 8.0%. Net debt stands at €1.5B. Fundamentals as of Jun 24, 2026

Key figures & financial health

Revenue (TTM) €11.7B
Revenue growth (YoY) +7.4%
Net margin 1.8%
Return on equity 8.0%
Free cash flow €657M FY2025
P/E ratio 19.7
More key figures
Operating margin 3.4%
EPS (TTM) €0.1000
Dividend yield 3.1%
EPS growth (YoY) +10.8%
Net debt €1.5B FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.

About the company

Sonae, SGPS, S.A. operates a portfolio of businesses in retail, real estate, telecommunications, technology, and financial services in Portugal and internationally. The company operates through six segments: MC, Worten, Musti, Sierra, Bright Pixel, and NOS. It is involved in retailing in the food sector through a network of stores, such as Continente Modelo and Continente Bom Dia supermarkets, Continente hypermarkets, and Meu Super, a franchised supermarket; health and wellness markets under the Wells, Arenal, Druni, and other retail banners; bookshops and stationery under the Note! brand; and cafeterias and restaurants under the Bagga brand. The company also offers electronics and appliances through digital channels and physical stores; a range of services under the Worten Resolve and iServices brands; retail products and services for pets under the Musti ja Miri, Arken Zoo, Musti, Pet City, and ZU brands; telecommunication services, including Pay TV, broadband services, and cinema…

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sonae, SGPS, S.A reported revenue of €11.4B in FY2025 versus €7.0B in FY2021, a compound +12.8%/yr. Reported net income was €199M in FY2025, compounding −7.1%/yr from FY2021.

Revenue +12.8%/yr
FY21 €7.0B
FY22 €7.7B
FY23 €8.4B
FY24 €9.9B
FY25 €11.4B
Net income −7.1%/yr
FY21 €268M
FY22 €342M
FY23 €357M
FY24 €223M
FY25 €199M

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Frequently asked questions

Is Sonae, SGPS, S.A (SON) undervalued?
As of Jun 24, 2026, our model estimates a fair value of €2.25 versus a price of €1.98 — about +14% (undervalued). Model-based estimate, not financial advice.
What is the fair value of SON?
Our 21-model fair value for Sonae, SGPS, S.A is €2.25 (as of Jun 24, 2026), built from audited fundamentals. The current price is €1.98.
What is the quality score of SON?
Sonae, SGPS, S.A has a Quality Score of 86/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Sonae, SGPS, S.A (SON)?
Sonae, SGPS, S.A reported trailing-twelve-month revenue of about €11.7B (latest available figure, as of Jun 24, 2026).
What is the net profit margin of SON?
The net profit margin of Sonae, SGPS, S.A is about 1.8%, meaning it keeps roughly 1.8% of revenue as net income. Based on the latest reported figures.
Does Sonae, SGPS, S.A pay a dividend?
Sonae, SGPS, S.A currently shows a dividend yield of about 3.14% relative to its recent price (as of Jun 24, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.