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TTS (Transport Trade Services) S.A (TTS) Fair Value & Analysis

Industrials · RO · Market cap 1.1B RON

TT TTS (Transport Trade Services) S.A TTS · RO
Price5.88 RON
Fair Value1.32 RON
Upside-77.6%
Quality35/100
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Expensive Growth
Thin margins · 0.0% net margin
Low debt · negative free cash flow
1.28% dividend yield
Trails peers (4/12)
Narrow moat 19/100
Evidence: Medium Range 0.8000 RON – 1.86 RON Share as image

Fair value as of: Jul 21, 2026

From 8 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 6.87 RON to 1.32 RON (−80.8%) since Jun 24, 2026. Share price −2.4% over the past month.

Below-average quality, and screening another 78% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1.86 RON). The favourable scenario is already priced in.
  • Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (0.8000 RON to 1.86 RON) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

950,366 RON 2.71 RON Fair Value 1.32 RON Jun 2021 Jun 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 2.71 RON – 950,366 RON · fair‑value band 0.8000 RON – 1.86 RON · the 5.88 RON price screens above the 1.32 RON fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

TTS (Transport Trade Services) S.A (TTS) currently trades at 5.88 RON, while our model-based Fair Value estimate is 1.32 RON, implying the stock looks roughly 77.6% overvalued today. The Quality Score stands at 35/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Trailing-twelve-month revenue stands at 653M RON. Revenue declined 1.1% year over year. It earns a return on equity of 0.2%. Net debt stands at 71.8M RON. Fundamentals as of Jul 21, 2026

Our scenario range runs from 0.8000 RON (bear case) to 1.86 RON (bull case); at 5.88 RON, the current price sits above 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 7% below its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -11% fair-value upside, at -78%, TTS screens richer 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (0.4600 RON to 5.48 RON). Read the values as a conservative anchor, not as a price target.
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 0.3900 RON 0.4600 RON 0.5100 RON 72
Gordon GGM 1.20 RON 1.30 RON 1.44 RON 70
DDM Multi-Stage 1.20 RON 1.43 RON 1.73 RON 61
All 8 models by family
Earnings-Based
EPV 0.3900 RON 0.4600 RON 0.5100 RON 59
Dividend Discount
Gordon GGM 1.20 RON 1.30 RON 1.44 RON 70
DDM Multi-Stage 1.20 RON 1.43 RON 1.73 RON 61
Multiples
EV/EBIT 0.7200 RON 1.00 RON 1.28 RON 53
EV/EBITDA 4.08 RON 5.48 RON 6.88 RON 54
EV/Revenue 0.6100 RON 0.9200 RON 1.23 RON 43
Asset-Based
NCAV (Graham) 2.45 RON 3.28 RON 4.90 RON 50
Economic Profit
ROIC Compounder 0.3900 RON 0.4600 RON 0.5100 RON 72

Widest divergence: Asset-Based (3.28 RON) versus Earnings-Based (0.4600 RON). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) 653M RON
Revenue growth (YoY) -1.1%
Net margin 0.0%
Return on equity 0.2%
Free cash flow −66.2M RON FY2025
Operating margin 1.1%
More key figures
Dividend yield 1.3%
EPS growth (YoY) -93.8%
Net debt 71.8M RON FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 35/100

Of which business quality 38 · Market factors (momentum, volatility) 72

Profitability 14
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 16
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 75
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

TTS (Transport Trade Services) S.A. provides freight forwarding services in Romania. The company operates through three segments: Shipping, River Transport, and Port Operations.

Full company description

TTS (Transport Trade Services) S.A. provides freight forwarding services in Romania. The company operates through three segments: Shipping, River Transport, and Port Operations. The company also provides direct or indirect transshipment services from ships to barges, and barges to wagons and trucks; storage services in the port of Constanta and other Danube ports;. In addition, it handles general cargo and bulk products consist of agricultural products, such as grain and feed products; chemicals and soda; steel scraps; raw materials, such as coal, coke, and ores; steel, wood, ballast and quarry, and petroleum products; and equipment. TTS (Transport Trade Services) S.A. was incorporated in 1997 and is headquartered in Bucharest, Romania.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TTS (Transport Trade Services) S.A reported revenue of 651M RON in FY2025 versus 599M RON in FY2021, a compound +2.1%/yr. Reported net income was −12.2M RON in FY2025.

Growth Quality 24/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
651M RON
Latest YoY
−11.2%
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.
−11.3%
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.
+4.6%
Revenue +2.1%/yr
FY21 599M RON
FY22 934M RON
FY23 1.2B RON
FY24 734M RON
FY25 651M RON
Net income
FY21 60.3M RON
FY22 164M RON
FY23 284M RON
FY24 19.1M RON
FY25 −12.2M RON

TTS screens 78% overvalued. Compare with United Parcel Service, Inc →

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Cite: Fair Value Calculator (2026). "TTS (Transport Trade Services) S.A Fair Value". https://www.fairvalue-calculator.com/stock/TTS

Peer Group

Integrated Freight & Logistics · 218 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 35 · Bottom 25%
Fair Value upside −78% · Bottom 25%
Return on equity (TTM) 0% · Below median
Return on assets 1% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth -1% · Below median
Dividend yield (TTM) 1.3% · Below median
Debt / equity 0.12× · Lower than median

Valuation Multiples vs Integrated Freight & Logistics median · lower = cheaper

P/B 0.26× · Cheaper than 75% of peers
P/S (TTM) 0.35× · Cheaper than median
EV/EBITDA 2.4× · 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 0 · sector 46
FUTURE 0 · sector 8
PAST 1 · sector 26
HEALTH 94 · sector 94
DIVIDEND 26 · sector 56

VALUE 0: the price sits above our fair-value range.

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 Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
United Parcel Service, Inc UPS $117.72 $104.58 -11%
FedEx Corporation FDX $314.69 $347.68 +10%
Deutsche Post AG DHL €57.22 €53.18 -7%
DSV A/S DSV kr 1,660 kr 712.57 -57%
Kuehne + Nagel International AG KNIN CHF 209.90 CHF 147.92 -30%
J.B. Hunt Transport Services, Inc JBHT $291.41 $133.80 -54%
S.F. Holding 002352 ¥31.91 ¥48.64 +52%
C.H. Robinson Worldwide, Inc CHRW $193.50 $86.56 -55%
Expeditors International of Washington, Inc EXPD $172.02 $115.95 -33%
ZTO Express (Cayman) Inc 2057 HK$181.40 HK$241.93 +33%

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Frequently asked questions

Is TTS (Transport Trade Services) S.A (TTS) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 1.32 RON versus a price of 5.88 RON, about −78% (overvalued).
What is the fair value of TTS?
Our model-based fair value for TTS (Transport Trade Services) S.A is 1.32 RON (as of Jul 21, 2026), built from audited fundamentals. The current price is 5.88 RON.
What is the quality score of TTS?
TTS (Transport Trade Services) S.A has a Quality Score of 35/100. 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 TTS (Transport Trade Services) S.A (TTS)?
TTS (Transport Trade Services) S.A reported trailing-twelve-month revenue of about 653M RON (latest available figure, as of Jul 21, 2026).
What is the net profit margin of TTS?
The net profit margin of TTS (Transport Trade Services) S.A is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
Does TTS (Transport Trade Services) S.A pay a dividend?
TTS (Transport Trade Services) S.A currently shows a dividend yield of about 1.28% relative to its recent price (as of Jul 21, 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.

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