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STEICO SE (ST5) Fair Value & Analysis

Basic Materials · DE · Market cap €270M

SS STEICO SE ST5 · XETRA
Price€18.66
Fair Value€21.55
Upside+15.5%
Quality57/100
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Healthy Growth
Thin margins · 4.7% net margin
Low debt · generates free cash flow
1.07% dividend yield
Ranks above peers (9/14)
Narrow moat 34/100
Evidence: High Range €16.16 – €26.93 Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from €29.34 to €21.55 (−26.6%) since Jun 24, 2026. Share price −2.3% over the past month.

A solid business, screening 15% undervalued on our models.

What matters now

  • Our model range runs from €16.16 (bear) to €26.93 (bull), base €21.55. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 57/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€123.42 €16.76 Fair Value €21.55 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range €16.76 – €123.42 · fair‑value band €16.16 – €26.93 · the €18.66 price screens below the €21.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

STEICO SE (ST5) currently trades at €18.66, while our model-based Fair Value estimate is €21.55, implying the stock looks roughly 15.5% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Basic Materials 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, STEICO SE generated revenue of €385M at a net margin of 2.6%. Revenue grew 4.1% year over year. It earns a return on equity of 2.9%. Net debt stands at €97.5M. Fundamentals as of Jul 17, 2026

Our scenario range runs from €16.16 (bear case) to €26.93 (bull case); at €18.66, 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 32% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -32% fair-value upside, at 15%, ST5 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 €26.20 €36.06 €48.39 80
Residual Income €17.51 €16.82 €13.85 76
Rev-Margin DCF €26.86 €41.35 €58.85 74
All 26 models by family
DCF Models
FCF DCF €26.36 €37.24 €51.65 38
Owner Earnings €23.86 €33.57 €46.43 31
5Y Revenue Exit €26.86 €41.39 €60.21 39
5Y EBITDA Exit €32.39 €52.12 €75.72 41
5Y P/E Exit €21.21 €30.41 €40.16 38
10Y Revenue Exit €25.70 €37.80 €54.64 36
10Y EBITDA Exit €29.35 €44.30 €65.11 37
10Y P/E Exit €23.16 €31.15 €41.09 35
Earnings-Based
Graham-Dodd €8.62 €32.12 €43.42 54
Lynch FV €7.73 €11.04 €14.35 50
PEG = 1.0 €7.73 €11.04 €14.35 46
EPV €17.05 €18.73 €20.09 59
Dividend Discount
Gordon GGM €1.39 €2.33 €3.03 70
DDM Multi-Stage €1.39 €2.21 €2.51 61
Multiples
P/E Multiple €16.16 €21.55 €26.93 63
P/S Multiple €16.16 €21.55 €26.93 58
P/B Multiple €16.16 €21.55 €26.93 55
EV/EBIT €32.34 €42.11 €51.87 53
EV/EBITDA €41.04 €53.70 €66.36 54
EV/Revenue €28.44 €39.32 €50.20 43
Asset-Based
NCAV (Graham) €12.80 €17.15 €25.60 50
Growth DCF
Growth DCF €26.20 €36.06 €48.39 80
Rev-Margin DCF €26.86 €41.35 €58.85 74
Economic Profit
Residual Income €17.51 €16.82 €13.85 76
ROIC Compounder €17.05 €18.73 €20.09 72
Growth Earnings
Growth-Adj P/E €12.65 €18.07 €23.49 68

Widest divergence: DCF Models (€37.24) versus Dividend Discount (€2.21). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €385M
Revenue growth (YoY) +4.1%
Net margin 2.6%
Return on equity 2.9%
Free cash flow €37.8M FY2025
P/E ratio 15.1
More key figures
Operating margin 4.0%
EPS (TTM) €1.27
EPS growth (YoY) -62.6%
Net debt €97.5M FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 57 · Market factors (momentum, volatility) 26

Profitability 40
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 7
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

STEICO SE develops, produces, and markets ecological construction products made of renewable raw materials in Germany, Austria, Switzerland, Lichtenstein, France, Belgium, Netherlands, Luxemburg, South European countries, and internationally.

Full company description

STEICO SE develops, produces, and markets ecological construction products made of renewable raw materials in Germany, Austria, Switzerland, Lichtenstein, France, Belgium, Netherlands, Luxemburg, South European countries, and internationally. The company offers flexible and stable wood fiber insulation panels, and facade insulation materials; sealing products for the building shell; and ETICS accessories, vapour barriers, and tools for processing insulation material. It also provides cavity wall and air-injected insulation made of wood fibers and cellulose flakes. In addition, the company offers construction products, such as I-joists and laminated veneer lumber products; fibreboards for pinboards or door fills, and other products for industrial applications; and natural fibre boards for applications in furniture industry. Further, the company involved in the timber wholesale business; and provision of seminar services to train craftsmen, architects, and trade representatives, as well as people building their own homes. STEICO SE was founded in 1986 and is headquartered in Feldkirchen, Germany. STEICO SE is a subsidiary of Kingspan Group plc.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

STEICO SE reported revenue of €407M in FY2025 versus €388M in FY2021, a compound +1.2%/yr. Reported net income was €17.8M in FY2025, compounding −22.0%/yr from FY2021.

Growth Quality 70/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€407M
Latest YoY
+4.4%
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.
−2.9%
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.
+5.7%
Avg. growth/yr (21Y) 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.
+9.3%
Revenue +1.2%/yr
FY21 €388M
FY22 €445M
FY23 €366M
FY24 €390M
FY25 €407M
Net income −22.0%/yr
FY21 €48.2M
FY22 €47.9M
FY23 €16.9M
FY24 €19.3M
FY25 €17.8M
Character of growth · EPS growth decomposed (2014-2025) +7.5 % p.a.
Revenue per share +7.1 pp

of which total revenue +8.2 pp · buybacks/dilution −1.1 pp

EBIT margin +0.5 pp
Tax rate +0.5 pp
Residual (interest, one-offs) −0.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "STEICO SE Fair Value". https://www.fairvalue-calculator.com/stock/ST5

Peer Group

Lumber & Wood Production · 76 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 57 · Above median
Fair Value upside +16% · Above median
Return on equity (TTM) 5% · Above median
Return on assets 2% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 3% · Above median
Revenue growth -1% · Below median
Dividend yield (TTM) 1.1% · Below median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Lumber & Wood Production median · lower = cheaper

P/E (TTM) 15.1× · Cheaper than median
P/B 0.87× · Pricier than median
P/S (TTM) 0.82× · Pricier than median
P/FCF 8.3× · Pricier than median
EV/EBITDA 5.8× · Cheaper than median

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 54 · sector 16
FUTURE 0 · sector 0
PAST 20 · sector 0
HEALTH 100 · sector 92
DIVIDEND 21 · sector 32

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 Lumber & Wood Production stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Simpson Manufacturing Co SSD $188.80 $147.92 -22%
West Fraser Timber Co WFG C$98.54 C$51.55 -48%
UFP Industries, Inc UFPI $85.93 $108.78 +27%
Stella-Jones Inc SJ C$78.93 C$96.01 +22%
Boise Cascade Company BCC $76.06 $51.92 -32%
Century Plyboards (India) Limited CENTURYPLY ₹799.50 ₹201.01 -75%
DeHua TB New Decoration Material Co 002043 ¥11.74 ¥14.78 +26%
Canfor Corporation CFP C$14.17 C$4.54 -68%
Interfor Corporation IFP C$13.45 C$6.43 -52%
Kangxin New Materials Co 600076 ¥3.05 ¥0.6700 -78%

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Frequently asked questions

Is STEICO SE (ST5) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of €21.55 versus a price of €18.66, about +15% (undervalued).
What is the fair value of ST5?
Our model-based fair value for STEICO SE is €21.55 (as of Jul 17, 2026), built from audited fundamentals. The current price is €18.66.
What is the quality score of ST5?
STEICO SE has a Quality Score of 57/100. 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 STEICO SE (ST5)?
STEICO SE reported trailing-twelve-month revenue of about €385M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of ST5?
The net profit margin of STEICO SE is about 2.6%, meaning it keeps roughly 2.6% 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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