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Surteco Group (SUR) Fair Value & Analysis

Consumer Cyclical · DE · Market cap €153M

SG Surteco Group SUR · XETRA
Price€8.00
Fair Value€19.30
Upside+141.3%
Quality43/100
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Mixed Growth
Loss-making · -1.0% net margin
Moderate debt · generates free cash flow
Trails peers (5/14)
Narrow moat 25/100
Evidence: High Range €14.23 – €32.45 Share as image

Fair value as of: Jul 18, 2026

From 13 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from €19.01 to €19.30 (+1.5%) since Jun 25, 2026. Share price −17.5% over the past month.

Below-average quality, screening 141% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (€14.23). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (€14.23 to €32.45) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€36.95 €8.00 Fair Value €19.30 Oct 2020 Aug 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 €8.00 – €36.95 · fair‑value band €14.23 – €32.45 · the €8.00 price screens below the €19.30 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Surteco Group (SUR) currently trades at €8.00, while our model-based Fair Value estimate is €19.30, implying the stock looks roughly 141.3% undervalued today. The Quality Score stands at 43/100 (below-average quality), in the Consumer Cyclical 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, Surteco Group generated revenue of €810M at a net margin of -1.0%. Revenue declined 6.2% year over year. It earns a return on equity of -2.1%. Net debt stands at €312M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €14.23 (bear case) to €32.45 (bull case); at €8.00, the current price sits below 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 52% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 16% fair-value upside, at 141%, SUR 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
ROIC Compounder €11.29 €13.45 €15.21 72
Gordon GGM €2.09 €2.92 €3.65 70
DDM Multi-Stage €2.09 €2.77 €3.39 61
All 13 models by family
DCF Models
Owner Earnings €2.60 €5.24 €8.23 31
5Y Revenue Exit €7.82 €17.72 €30.03 39
5Y EBITDA Exit €25.19 €48.24 €74.06 41
10Y Revenue Exit €2.11 €9.05 €17.75 36
10Y EBITDA Exit €11.89 €26.57 €44.86 37
Earnings-Based
EPV €11.29 €13.45 €15.21 59
Dividend Discount
Gordon GGM €2.09 €2.92 €3.65 70
DDM Multi-Stage €2.09 €2.77 €3.39 61
Multiples
EV/EBIT €28.99 €40.88 €52.78 53
EV/EBITDA €57.28 €78.60 €99.93 54
EV/Revenue €18.77 €29.69 €40.60 43
Asset-Based
NCAV (Graham) €11.73 €15.71 €23.45 50
Economic Profit
ROIC Compounder €11.29 €13.45 €15.21 72

Widest divergence: Multiples (€40.88) versus Dividend Discount (€2.77). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) €810M
Revenue growth (YoY) -6.2%
Net margin -1.0%
Return on equity -2.1%
Free cash flow €7.0M FY2025
Operating margin 2.2%
More key figures
EPS (TTM) €-0.9200
EPS growth (YoY) +90.0%
Net debt €312M FY2025

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

Quality Score breakdown

Overall quality 43/100

Of which business quality 40 · Market factors (momentum, volatility) 26

Profitability 22
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 15
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 0
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

Surteco Group SE engages in the development, production, and sale of coated surface materials based on paper and plastic in Germany, rest of Europe, the United States, Asia, Australia, and internationally.

Full company description

Surteco Group SE engages in the development, production, and sale of coated surface materials based on paper and plastic in Germany, rest of Europe, the United States, Asia, Australia, and internationally. The company offers decor papers, finish foils, impregnates and release papers, melamine edgings, and paper-based edgebandings; plastic edgebandings, thermoplastic films, and cylinder engraving; and floor strip and skirting systems, wall edging systems, technical extrusions, and accessories. Its products are used for floors, caravan, wood-based material, home furniture, office, kitchen, door, and trade industries. The company was founded in 1999 and is based in Buttenwiesen, Germany.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Surteco Group reported revenue of €821M in FY2025 versus €757M in FY2021, a compound +2.1%/yr. Reported net income was −€14.3M in FY2025.

Growth Quality 36/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€821M
Latest YoY
−4.1%
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.
+3.2%
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.
+5.5%
Avg. growth/yr (19Y) 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.
+3.8%
Revenue +2.1%/yr
FY21 €757M
FY22 €748M
FY23 €835M
FY24 €857M
FY25 €821M
Net income
FY21 €47.8M
FY22 €25.2M
FY23 −€12.3M
FY24 €8.4M
FY25 −€14.3M

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Cite: Fair Value Calculator (2026). "Surteco Group Fair Value". https://www.fairvalue-calculator.com/stock/SUR

Peer Group

Furnishings, Fixtures & Appliances · 311 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 43 · Bottom 25%
Fair Value upside +141% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) -1% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth -6% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.51× · Higher than 75% of peers

Valuation Multiples vs Furnishings, Fixtures & Appliances median · lower = cheaper

P/B 0.49× · Cheaper than 75% of peers
P/S (TTM) 0.22× · Cheaper than 75% of peers
P/FCF 25.2× · Pricier than 75% of peers
EV/EBITDA 4.2× · Cheaper than 75% of peers
PEG 0.58× · 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 100 · sector 22
FUTURE 0 · sector 0
PAST 0 · sector 19
HEALTH 75 · sector 97
DIVIDEND 0 · sector 55

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥82.71 ¥107.22 +30%
Gree Electric Appliances, Inc 000651 ¥38.25 ¥88.02 +130%
Haier Smart Home Co 600690 ¥21.46 ¥36.04 +68%
King Slide Works Co 2059 8,655 TWD 1,917 TWD -78%
Guangdong Songfa Ceramics Co 603268 ¥155.59 ¥38.95 -75%
SharkNinja, Inc SN $154.53 $89.07 -42%
Hisense Home Appliances Group 000921 ¥26.33 ¥48.03 +82%
Zhejiang Supor Co 002032 ¥43.85 ¥44.84 +2%
COWAY Co 021240 96,700 KRW 112,530 KRW +16%
Ecovacs Robotics Co 603486 ¥50.13 ¥54.11 +8%

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Frequently asked questions

Is Surteco Group (SUR) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €19.30 versus a price of €8.00, about +141% (undervalued).
What is the fair value of SUR?
Our model-based fair value for Surteco Group is €19.30 (as of Jul 18, 2026), built from audited fundamentals. The current price is €8.00.
What is the quality score of SUR?
Surteco Group has a Quality Score of 43/100. 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 Surteco Group (SUR)?
Surteco Group reported trailing-twelve-month revenue of about €810M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of SUR?
The net profit margin of Surteco Group is about -1.0%, meaning it is currently running at a net loss. 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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