Tessenderlo (TESB) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Tessenderlo stock €28.19, price €17.62, upside +60.0%, quality 49 out of 100. Rating: strongly undervalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.
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Tessenderlo
TESB · BRThe stock costs 38% less than our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range €16.96 – €34.15 · fair‑value band €20.81 – €35.57 · the €17.62 price screens below the €28.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Company profile
Tessenderlo Group NV, together with its subsidiaries, engages in the agriculture, valorizing bio-residuals, machinery, mechanical engineering, electronics, energy, and industrial solution businesses worldwide.
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It operates through five segments: Agro, Bio-Valorization, Industrial Solutions, Machines & Technologies, and T-Power.
The Agro segment engages in the production, marketing, and trading of crop nutrients, including liquid crop and potassium sulfate fertilizers, and organic soil improvers, and organic and non-organic crop protection products.
This segment offers its specialty fertilizers under Thio-Sul, KTS, K-Row 23, CaTs, GranuPotasse, SoluKem, SoluPotasse, and MAJOR 90 brands. The Bio-Valorization segment produces, sells, and trades in gelatins and collagen peptides, and proteins and fats.
The Industrial Solutions segment includes preassembled piping kits, project consultancy services, engineering support for ventilation solutions, sewage and rainwater solutions, and siphonic roof drainage systems; coagulants and other chemicals for the treatment of wastewater, and the purification of drinking water; and production and sale of industrial chemicals, such as bleach, sulfuric acid, sodium hydroxide, various grades of hydrochloric acid, and calcium chloride, as well as sulfur chemicals.
The Machines & Technologies segment engages in the design, development, production, sale, support, and service of weaving machines, upgrade kits and spare parts, and training course; engineered casting solutions; customized controllers; and precision parts.
The T-Power segment produces electricity through a combined cycle gas turbine of 425 MW capacity.
It serves agriculture, food, pharma, mining, construction, infrastructure, health and nutrition, chemical, textile, pet food, aqua feed, animal feed, bioenergy, biodiesel, oleo-chemistry, sanitary, machinery, engineering, and consumer goods.
The company was founded in 1919 and is headquartered in Brussels, Belgium.
Stock analysis
Tessenderlo (TESB) currently trades at €17.62, while our model-based Fair Value estimate is €28.19, implying the stock looks roughly 38% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €17.94 per share, and 5 of the 13 models we run sit above the €17.62 price.
Bear case: the Asset-Based group reads lowest at €3.21, and 8 of the 13 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €20.81 (bear) to €35.57 (bull), the price of €17.62 sits below 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 49/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Tessenderlo reported revenue of €2.8B in FY2025 versus €2.1B in FY2021, a compound +7.3%/yr. Reported net income was −€81.1M in FY2025.
Key figures
Market cap €1.0B Small · P/S ratio 0.36 · EPS (TTM) €−0.0600 · Dividend yield 0.8% · Net margin −0.2% · Return on equity −0.3% · Return on assets (EBIT) 6.0% (5-year average) · Operating margin 4.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 20 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 3% fair-value upside, at 60%, TESB screens cheaper than that median.
Fair Value models
All 13 models by family
The fair value above starts from this blend and is adjusted for a cyclical trough year.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
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Compare Tessenderlo with another stock
Price, fair value, quality and upside side by side.
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.Agricultural Inputs · 162 stocks
Valuation Multiplesvs Agricultural Inputs median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Materials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- P/S ratio by industry
- EBIT margin by industry
- PEG screener for stocks with fair value
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Agricultural Inputs stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Nutrien Ltd NTR | $71.48 | $83.09 | +16% | vs TESB |
| Qinghai Salt Lake Industry Co 000792 | ¥23.15 | ¥26.81 | +16% | vs TESB |
| The Mosaic Company MOS | $22.36 | $25.77 | +15% | vs TESB |
| Asia-potash International Investment (Guangzhou)Co.,Ltd., 000893 | ¥36.68 | ¥38.01 | +4% | vs TESB |
| ICL Group ICL | $4.68 | $4.84 | +3% | vs TESB |
| Yara International ASA YAR | kr 401.00 | kr 409.02 | +2% | vs TESB |
| CF Industries Holdings CF | $119.39 | $114.88 | −4% | vs TESB |
| UPL Limited UPL | ₹534.90 | ₹478.29 | −11% | vs TESB |
| Yunnan Yuntianhua Co 600096 | ¥26.22 | ¥17.67 | −33% | vs TESB |
| Coromandel International Limited COROMANDEL | ₹1,824 | ₹1,129 | −38% | vs TESB |
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