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Space Hellas S.A (SPACE) Fair Value & Analysis

Technology · GR · Market cap €43.4M

SH Space Hellas S.A SPACE · AT
Price€8.00
Fair Value€8.58
Upside+7.3%
Quality49/100
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Mixed Growth
Thin margins · 1.8% net margin
Moderate debt · generates free cash flow
Ranks above peers (8/13)
Narrow moat 36/100
Evidence: High Range €6.43 – €10.72 Share as image

Fair value as of: Jul 25, 2026

From 23 valuation models · updated 17 days ago

Share price +8.7% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from €6.43 (bear) to €10.72 (bull), base €8.58. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 49/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€9.68 €4.81 Fair Value €8.58 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range €4.81 – €9.68 · fair‑value band €6.43 – €10.72 · the €8.00 price screens below the €8.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

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Analysis

Space Hellas S.A (SPACE) currently trades at €8.00, while our model-based Fair Value estimate is €8.58, implying the stock looks roughly 7.3% fairly valued today. The Quality Score stands at 49/100 (below-average quality), in the Technology 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: high), always confirm before acting.

Over the trailing twelve months, Space Hellas S.A generated revenue of €153M at a net margin of 1.8%. Revenue grew 6.1% year over year. It earns a return on equity of 9.8%. Net debt stands at €64.7M. Fundamentals as of Jul 25, 2026

Our scenario range runs from €6.43 (bear case) to €10.72 (bull case); at €8.00, 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 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at 7%, SPACE 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 €0.8500 80
Residual Income €3.82 €3.97 €4.05 76
Rev-Margin DCF €5.16 €14.92 €27.43 74
All 23 models by family
DCF Models
FCF DCF €1.64 38
5Y Revenue Exit €5.16 €15.38 €29.58 39
5Y EBITDA Exit €11.27 €27.93 €49.19 41
5Y P/E Exit €2.94 €7.34 38
10Y Revenue Exit €1.34 €8.99 €21.18 36
10Y EBITDA Exit €5.22 €16.84 €35.14 37
10Y P/E Exit €1.22 €5.33 35
Earnings-Based
Graham-Dodd €2.92 €13.43 €18.43 54
Lynch FV €3.53 €5.04 €6.56 50
PEG = 1.0 €3.53 €5.04 €6.56 46
EPV €6.15 €7.56 €8.70 59
Multiples
P/E Multiple €6.43 €8.58 €10.72 63
P/S Multiple €5.47 €7.29 €9.11 58
P/B Multiple €5.47 €7.29 €9.11 55
EV/EBIT €19.03 €27.23 €35.42 53
EV/EBITDA €23.62 €33.35 €43.07 54
EV/Revenue €11.02 €18.12 €25.22 43
Asset-Based
NCAV (Graham) €2.52 €3.38 €5.04 50
Growth DCF
Growth DCF €0.8500 80
Rev-Margin DCF €5.16 €14.92 €27.43 74
Economic Profit
Residual Income €3.82 €3.97 €4.05 76
ROIC Compounder €6.53 €9.19 €12.46 72
Growth Earnings
Growth-Adj P/E €5.51 €7.87 €10.23 68

Widest divergence: Growth DCF (€14.92) versus Asset-Based (€3.38). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €153M
Revenue growth (YoY) +6.1%
Net margin 1.8%
Return on equity 9.8%
Free cash flow €2.1M FY2025
P/E ratio 15.6
More key figures
Operating margin 5.9%
EPS (TTM) €0.4300
EPS growth (YoY) +211%
Net debt €64.7M FY2025

Figures from reported company fundamentals · as of Jul 25, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 46 · Market factors (momentum, volatility) 57

Profitability 36
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 15
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 54
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.

About the company

Space Hellas S.A., a system integrator and value-added solutions provider, designs, supplies, implements, and supports information and communication technologies (ICT) and security solutions in Greece and internationally. The company operates through three segments: Technology Solutions and Services, Integration Projects, and Mobile Telecommunications.

Full company description

Space Hellas S.A., a system integrator and value-added solutions provider, designs, supplies, implements, and supports information and communication technologies (ICT) and security solutions in Greece and internationally. The company operates through three segments: Technology Solutions and Services, Integration Projects, and Mobile Telecommunications. It focuses on the design and implementation of telecommunication networks, information technology (IT) systems, managed services and data center facilities, security and IT security solutions, and OSS/BSS, as well as wireless and satellite networks solutions. The company offers a range of solutions and services that covers various needs in ICT and security technologies, such as data communications, IT and IT infrastructure, telecommunications, unified communications, information and physical security, audiovisual systems, etc. In addition, it provides consulting, training, transfer, project management, information security system development, and program development services. Further, the company offers trading and property investment services; Web-Intelligence specialized applications market and Big Data analytics for businesses and organizations; digital solutions for the agricultural sector, including farming monitoring and management systems, high-resolution weather forecasting, water resources monitoring and control services, and agricultural insurance services, as well as personalized solutions for companies and public bodies; and value-added services for mobile and computing environments, and the Internet. It serves banks and private companies, industries, store chains, telecommunications service providers, and ministries and government agencies, as well as the armed forces. Space Hellas S.A. was founded in 1985 and is headquartered in Agia Paraskevi, Greece.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Space Hellas S.A reported revenue of €153M in FY2025 versus €103M in FY2021, a compound +10.3%/yr. Reported net income was €2.8M in FY2025, compounding −7.9%/yr from FY2021.

Growth Quality 78/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€153M
Latest YoY
−1.5%
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.
+5.9%
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.
+13.6%
Avg. growth/yr (11Y) 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.
+12.2%
Revenue +10.3%/yr
FY21 €103M
FY22 €129M
FY23 €148M
FY24 €155M
FY25 €153M
Net income −7.9%/yr
FY21 €3.8M
FY22 €4.7M
FY23 €4.8M
FY24 €1.8M
FY25 €2.8M

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

Peer Group

Software - Application · 708 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 49 · Below median
Fair Value upside +7% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 4% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 6% · Above median
Revenue growth 6% · Below median
Debt / equity 1.45× · Higher than 75% of peers

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 15.6× · Cheaper than median
P/B 1.54× · Cheaper than median
P/S (TTM) 0.33× · Cheaper than 75% of peers
P/FCF 24.3× · Pricier than 75% of peers
EV/EBITDA 4.7× · 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 43 · sector 0
FUTURE 31 · sector 38
PAST 39 · sector 13
HEALTH 27 · sector 98
DIVIDEND 0 · sector 28

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 25, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is Space Hellas S.A (SPACE) overvalued or undervalued?
As of Jul 25, 2026, our model estimates a fair value of €8.58 versus a price of €8.00, about +7% (fairly valued).
What is the fair value of SPACE?
Our model-based fair value for Space Hellas S.A is €8.58 (as of Jul 25, 2026), built from audited fundamentals. The current price is €8.00.
What is the quality score of SPACE?
Space Hellas S.A has a Quality Score of 49/100. 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 Space Hellas S.A (SPACE)?
Space Hellas S.A reported trailing-twelve-month revenue of about €153M (latest available figure, as of Jul 25, 2026).
What is the net profit margin of SPACE?
The net profit margin of Space Hellas S.A is about 1.8%, meaning it keeps roughly 1.8% of revenue as net income. Based on the latest reported figures.

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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